Depreciation Schedule

ViperInBlack

Enthusiast
Joined
Oct 5, 2004
Posts
973
Reaction score
0
Has anyone accumulated the data regarding rate of depreciation of the Viper factored as to year, mileage, options, modifications, limited production and other considerations.

For example, assuming a stock 2003 SRT-10, with less than 5k miles, what would one expect to pay for a similar 2005?

To what extent does limited production (Mamba, VCA, etc), modifications and mileage impact that valuation.

Thanks,


Alice
 

SneakyPete

Enthusiast
Joined
Mar 19, 2002
Posts
703
Reaction score
0
Location
Miami, FL--> SLITHRN, USA
Has anyone accumulated the data regarding rate of depreciation of the Viper factored as to year, mileage, options, modifications, limited production and other considerations.

For example, assuming a stock 2003 SRT-10, with less than 5k miles, what would one expect to pay for a similar 2005?

To what extent does limited production (Mamba, VCA, etc), modifications and mileage impact that valuation.

Thanks,


Alice

You and I seem to be an the same page. here are few threads to review.

The best price to date that I have seen was a 2003 with 7x00 miles for $59,500.00. I ask simlar question in first link. Seems alot of people buy the car and dump/flip them quickly which is killing the prices and values. car market is soft, but this doesnt help either.


http://vca2.viperclub.org/forums/showflat.php?Cat=&Board=UBB21&Number=451809&Forum=UBB21&Words=price&Match=Entire%20Phrase&Searchpage=1&Limit=25&Old=1month&Main=451808&Search=true#Post451809

http://vca2.viperclub.org/forums/showflat.php?Cat=&Board=UBB21&Number=443363&page=2&view=collapsed&sb=5&o=&fpart=1
 
OP
OP
V

ViperInBlack

Enthusiast
Joined
Oct 5, 2004
Posts
973
Reaction score
0
Specifically, I was interested as to the rate of depreciated trade value. If one were to swap a 2003 for 2005 or 2004 for 2006. The market is down...are we talking $30k difference or greater?


Alice
 

SneakyPete

Enthusiast
Joined
Mar 19, 2002
Posts
703
Reaction score
0
Location
Miami, FL--> SLITHRN, USA
Specifically, I was interested as to the rate of depreciated trade value. If one were to swap a 2003 for 2005 or 2004 for 2006. The market is down...are we talking $30k difference or greater?


Alice

This what I have been struggling with also.

Just depends if you are willing to pay window sticker.

Right now you can get or trade in a 2003 for very low, low 60's. A new plain 2005 Windows at what $85,295.00, If you can get a dealer to dump one at invoice-$79,000. your are at around $20,000.difference. if you closer to window, it gets closer to a $25,000 differnce for basically the same car except a trunk mat and red brake calipers.
 

Bill Pemberton Woodhouse

VCA Member
Supporting Vendor
Joined
Jul 25, 2000
Posts
5,212
Reaction score
6
Location
Blair,Nebraska,USA
One of the single most valuable tools to keep resale up on your Viper or any other car,is not to assume because you saw a car go super cheap that that defines a market. A Forum can be it's own worst enemy , as the same folks who swear they know of a car that went for X, want Y plus when they sell it. In many cases they never saw the actual car that supposedly someone stole, nor do they have any actual proof the car actually did go for that. Amazing how many Ebay Vipers are never picked up, for example. The other task that one finds difficult to explain, is why owner's will drop the price of their car within a week or even days after their initial price offering. Please note that 50-90K cars do not sell overnight, so patience is the key. Once you start complaining about your car not selling, and dropping your price, vultures circle the Forums waiting for you to wilt and reduce your price again. Please learn to not be your own worst enemy, and be comfortable in the fact that a high quality , exotic will normally take months to sell ( nothing new here ). As an individual you are also hampered by potential financing issues, if the customer is not the highly sought after cash buyer. Vipers are still low numbered , hand built cars, and surprisingly, the super clean ones are actually becoming harder to find. What we find is the most important items buyers will be looking for are:

1. Color
2. Miles
3. Limited availability -either a unique car, or one that had a short color run
4. Condition
5. Warranty

These are not all of the criteria, nor are they in order, but it is not unusual to see cars that are sought after ( say a 1996 GTS for example ) to be all over the Galaxy on price. Is 42,000 a fair price , while 52,000 is too much on this vehicle? Absolutely not, if the higher price one is a super low mile garage Queen, and the other one is a high mileage track model. The resale , overall, for Vipers has stayed up better than virtually all exotics and semi-exotics, and the answer is quite simple ( and surprisingly non-emotional ) - they don't build hardly any. Dealers and customers alike will pay more for a 500 mile 2 year old Viper, over a 7,000 mile similar car, as we all seem to want that hardly used Snake, whether we intend it to be a garage queen or a daily driver.

Best advice I can give if you want to keep the value up, is not to Toot your horn if you buy one super low, because when you want to sell it, everybody knows what you paid, and human nature means everyone wants it to be lower than where you started. You also devalue everyone else's car, as they just start assuming this is the new norm. This is often completely erroneous, as many cars that go for what seem to be low prices are damaged goods ( wrecked, washed titles, buybacks, etc ). Though owners are not always aware of this, some are, but the price is all we see. We can all be our own worst enemies, but the value of a car is based on perception more often than fact, and the facts are that two cars with similar miles can be reasonably apart on price due to condition or color alone.

Get your Snake, be patient if you want to sell it, and keep your purchase to yourself, as the one you hurt is often yourself. Just my humble opinion, but hang in there , you have a very limited automobile by World's standards, and many lust after it, just like you have.
 
OP
OP
V

ViperInBlack

Enthusiast
Joined
Oct 5, 2004
Posts
973
Reaction score
0
Then one of the controllable factors is mileage.

If you trade every two years (as the scenario utlined above) what does the market feel is reasonable mileage.

If this were a Porsche (that's a car made in Germany or someplace), mileage could be in the 40s and you would be okay).

I get the impression that as mileage creeps above 5k, the car starts to plummet in value.

Hmmm, may that's why it is made so difficult to drive.

Alice
 

Bill Pemberton Woodhouse

VCA Member
Supporting Vendor
Joined
Jul 25, 2000
Posts
5,212
Reaction score
6
Location
Blair,Nebraska,USA
I beg to differ with you on the mileage issue, as a Porsche, a Ferrari, etc. will lose substantial value with high mileage. Taking them in trade , it is the same throughout the semi-exotic, and exotic realm.
 
OP
OP
V

ViperInBlack

Enthusiast
Joined
Oct 5, 2004
Posts
973
Reaction score
0
Bill:

Perhaps you are correct, but when I have traded 911s in the past (just as with Mercedes) no one seems alarmed at 40k miles. They have a different concept of German cars (I completely agree regarding Ferraris...a friend has a 512BB Boxer).

When you scan the ads on Viper, the ones with mileage in the teens seem to sit longer even though priced lower.

Then again, I reserve the right to have just made a perfectly inaccurate and inane analysis of the market.

Actually, it was just a question...not an opinion. My only true opinion is that I do not have one.

Alice
 

onerareviper

Enthusiast
Joined
Jul 18, 2001
Posts
2,457
Reaction score
0
Location
Pittsburgh, PA, USA
One of the single most valuable tools to keep resale up on your Viper or any other car,is not to assume because you saw a car go super cheap that that defines a market. A Forum can be it's own worst enemy , as the same folks who swear they know of a car that went for X, want Y plus when they sell it. In many cases they never saw the actual car that supposedly someone stole, nor do they have any actual proof the car actually did go for that. Amazing how many Ebay Vipers are never picked up, for example. The other task that one finds difficult to explain, is why owner's will drop the price of their car within a week or even days after their initial price offering. Please note that 50-90K cars do not sell overnight, so patience is the key. Once you start complaining about your car not selling, and dropping your price, vultures circle the Forums waiting for you to wilt and reduce your price again. Please learn to not be your own worst enemy, and be comfortable in the fact that a high quality , exotic will normally take months to sell ( nothing new here ). As an individual you are also hampered by potential financing issues, if the customer is not the highly sought after cash buyer. Vipers are still low numbered , hand built cars, and surprisingly, the super clean ones are actually becoming harder to find. What we find is the most important items buyers will be looking for are:

1. Color
2. Miles
3. Limited availability -either a unique car, or one that had a short color run
4. Condition
5. Warranty

These are not all of the criteria, nor are they in order, but it is not unusual to see cars that are sought after ( say a 1996 GTS for example ) to be all over the Galaxy on price. Is 42,000 a fair price , while 52,000 is too much on this vehicle? Absolutely not, if the higher price one is a super low mile garage Queen, and the other one is a high mileage track model. The resale , overall, for Vipers has stayed up better than virtually all exotics and semi-exotics, and the answer is quite simple ( and surprisingly non-emotional ) - they don't build hardly any. Dealers and customers alike will pay more for a 500 mile 2 year old Viper, over a 7,000 mile similar car, as we all seem to want that hardly used Snake, whether we intend it to be a garage queen or a daily driver.

Best advice I can give if you want to keep the value up, is not to Toot your horn if you buy one super low, because when you want to sell it, everybody knows what you paid, and human nature means everyone wants it to be lower than where you started. You also devalue everyone else's car, as they just start assuming this is the new norm. This is often completely erroneous, as many cars that go for what seem to be low prices are damaged goods ( wrecked, washed titles, buybacks, etc ). Though owners are not always aware of this, some are, but the price is all we see. We can all be our own worst enemies, but the value of a car is based on perception more often than fact, and the facts are that two cars with similar miles can be reasonably apart on price due to condition or color alone.

Get your Snake, be patient if you want to sell it, and keep your purchase to yourself, as the one you hurt is often yourself. Just my humble opinion, but hang in there , you have a very limited automobile by World's standards, and many lust after it, just like you have.

Perfectly stated! I get so p*ssed off when some a-hole starts quoting low-ball prices from EBAY. Never saw the car, doesn't know if it sold, could be a scam, etc... But what really hurts the market is when people buy into this BS, then price there Viper way too low due to a misconception of value or lack of patience in selling an exotic car. It hurts the value of our rare cars, IMO. With a car that is sooooo limited, we truly have some power in controlling the market and value or our beast. Collectors know this, but not the common guy. That's why Viper's will be worth mega-bucks 15-20 years from now when mainly collectors own them.... The collector knows better than to give a diamond away for peanuts....
 
OP
OP
V

ViperInBlack

Enthusiast
Joined
Oct 5, 2004
Posts
973
Reaction score
0
Talked to a high volume Viper dealer today. He said that aside from condition, he believes that mileage is a key factor in resale. No surprise there. He said mileage above 10k makes for a harder sale.

No surprise there either, I suppose.

Alice
 

Lee00blacksilverGTS

Enthusiast
Joined
Jul 27, 2000
Posts
6,595
Reaction score
1
Location
Severna Park, Maryland
Alice said....
"Talked to a high volume Viper dealer today. He said that aside from condition, he believes that mileage is a key factor in resale. No surprise there. He said mileage above 10k makes for a harder sale.

No surprise there either, I suppose."
Alice
------------------------------------------
Then you talked to TWO volume dealers today. The Pemberton gentleman above is probably the highest volume Viper dealer guy world wide.
 
OP
OP
V

ViperInBlack

Enthusiast
Joined
Oct 5, 2004
Posts
973
Reaction score
0
Lee:

This was the Buhler Viper people to whom I spoke. Nice to know of the Pemberton dealership. Thank you.

Alice
 

Joseph Houss

Former VCA National President
VCA Officer
Joined
Jul 19, 2000
Posts
3,330
Reaction score
1
Location
NJ USA
Bottom line is that our Vipers are definitely well above the norm (especially for exotics/performance cars) for maintaining their value.

Combine that with getting an awesome deal to begin with (hopefully from one of the Viper passionate dealers that advertise on our site), and your depreciation will be even less!
 

agentf1

Enthusiast
Joined
Dec 27, 2001
Posts
2,608
Reaction score
0
Location
Phila Suburbs
I think everybody (all marques) think their car is worth more than it really is when trying to sell and visa versa.
 

Lee00blacksilverGTS

Enthusiast
Joined
Jul 27, 2000
Posts
6,595
Reaction score
1
Location
Severna Park, Maryland
Inside joke.....Won't Bob Woodhouse be pleased to learn that the dealership is now called "The Pemberton Dealership?" LOL! Alice I should have explained...Bill works for Bob Woodhouse (You may have seen him on Speedvision in a Comp Coupe) The dealership is actually called Woodhouse, Bill is da Viper mogul there.
 
OP
OP
V

ViperInBlack

Enthusiast
Joined
Oct 5, 2004
Posts
973
Reaction score
0
Lee:

I am afraid I do not understand. Mr. Pemberton told me that it was *his* dealership but that "some guy named Bob thinks he owns it."

So naturally...

Alice

P.S. j/k
 
Top