Hi,
This is a prospective for someone who is looking to buy. The Viper is without question my emotional choice for a street/track car. I’m selling my NSX which is my favorite choice for a steer car. Not a very good track car.
Here is my prospective which is only “my” perspective. My choice is either a C6 Z06 or a Gen II viper. My heart wants the Viper but my head says that the Z06 is better in every way. So here is where it comes down to the numbers. The Z06 will be dropping in value quickly as they continue to build 7,000 units a year. I’ve already seen a few sell for $58K. Most are still in the low $60K but with a 435hp base Corvette arriving in 2 months, you can be sure they will soon be below $60K. They also tend to be driven a lot more than a Viper. Z06’s with 30K miles are only a year away. At that point you’ll be seeing some in the low $50K range and a few breaking into the high $40s.
The best Gen II vipers are being advertised for the low $50K. For the same $, I’ll always choose a Z06 over a Gen II viper just because it’s too good a deal to pass up. In short, my head won’t let me pay more than $55K for any Viper. The only Gen II viper I would consider paying over $50K for is one of the 10 Daytona replicas. The only one I would pay over $45K for is the 2002 FE. I would only pay over $40K for a 2001. In short, no stock pre-2001 Viper is worth over $40K to me. I would rather wait 2 years, drive my race car and wait for Z06’s with 30K miles to drop under $50K.
So here is what I see happening. As the Z06 enters the $50K range in 2008, it will put downward price pressure on the older Vipers. So will the availability of a 600hp Viper. In 2009 as the Z06 enters the high $40K range, I see it difficult to get over $45K for all but the most collectable of Vipers. In short, in two years in someone offered me a 2006 Z06 with 30K miles for $45K or a 2002 FE Viper with 30K miles for $45K, I would take the Z06.
At the moment, there is still a good $20K price difference between the Gen II Viper and the C6 Z06. In value, I think the Corvette is only worth about $5K more than the Viper. As the Z06 declines in price, it will force the Viper price to decline as well. Of course those who only love Vipers will have no other choice but those who value performance above all else will choose a C6 Z06 over a Gen II Viper.
Please note I only made comments about the Gen II because I won’t spend over $50K for my next car. If I could get a 2006 Viper for $50K, I would jump on that and forget the Z06. I don’t see that price for 5 to 10 years because they aren’t driven very often.
So, here I set waiting to see what I can get for between $40K and $50K. If I find a great deal on a Gen II, I’ll take it. If not, I’ll wait 2 years and by a 2006 Z06 with 30K miles for under $50K. Not as cool on the street but cooler on the track.
So what is a great deal? Probably Kelly Blue Book trade-in value + $1,000. I do see a lot of Vipers going to dealers because owners have tried without success to sell them on their own or they just don’t want to deal with tire kickers.
I’m happy to pay more than a dealer for a Viper but not more than $1,000 more. I’ve given myself 2 years to find the right car. 2001s and 2002s are still depreciating. Z06s, even faster. We all want the best deal we can get. I want the best deal I can get for under $50K. I hope I can find that in a Viper with-in the next 2 years. If not, I’ll just get a Z06.
Please note I think the Viper is wonderful. I just don’t think I could pay the same for a Gen II Viper and then watch a Z06 pass me on the track.
