SRT-10 Prices are really getting Low

[SneakyPete]

I have been waiting for the 2003 SRT price to creep down. most are now in $65,000.00 -67000.00

I drove by BMW dealer that had a 03 silver with 7000 miles on it. their asking price was 64,999.00, Told them I would pay low 60,000--up to 61,000.00. Manager said he would wait and see.

sales mgr. called me back and says I can have it for 61,000. I told him I am working on another deal with less miles for a similar price and was not really considering their car anymore. He starts barking about what can he do to get me into his car. He offered me the car for $500 over what they paid for it $59,500.00. I really can pass this up.

But with high Trade in/turnover of the SRT, how much lower will the prices crash.

jut trying to make the best decision

 

[Craig 201 MPH]

and this surprises anyone???? UP here dealers are discounting them 18K off MSRP! MSRP here is 128,000 and I have seen new 04's advertised for 110,000.

Just sayin.

 

[SneakyPete]

Is it just that demand for the car is not there? when is the price fallout going to level off. If I buy one now for $60,000 and 3 month later you could get one for $57,000. Thats some pretty heavy depreciation.

I really feel sorry for the people that bought new 04/05 they will have a hard time selling the car without taking a bath as dodge has really increased the window sticker without adding alot to it.

 

[NOMERCY]

I could care less. I never buy these things for their ROI anyway. If I enjoy it then that is all that matters.

 

[WANTED]

THIS IS THE BEST TIME OF YEAR TO BUY A SPORTS CAR, PLUS THE FACT THATS ITS A CONVERTIBLE, I THINK YOU HAVE A GREAT DEAL IF YOUR REALLY A BUYER I WOULD SAY JUMP ON IT WHILE ITS THERE. PERSONALLY I DONT THINK THEY WILL GO MUCH LOWER BUT THATS JUST MY $0.02 WORTH. A TON OF CAR FOR THE PRICE. GOOD LUCK YOU REALLY WILL ENJOY A STR/10, MUCH MORE REFINED.

TOM

 

[japon]

Hey Sneaky, give me the phone number of your dealer as I'm in the market right now.
thanks,
joe

 

[TZL]

Hey if someone out there knows of nice clean srt-10 that are around or under $60k. please let me know. send me an e-mail at [email protected]

thanks


ting

 

[Paul Hawker]

Florida dealers are notorious for dealing in "story" cars. Usually been wrecked, abused, flooded or have not clean titles.
Historically the lowest prices, and worst cars seem to come from Florida dealers.
I don't think these prices are representative of the rest of the country.
Prices of SRT's seem to hold at a $20,000 premium over Gen 2's and a $30,000 premium over Gen 1's.
Best not to consider any sports car an investment. Only very rare or super high end cars maintain premiums over the intermediate term.
Most of the cars selling used over sticker originally were restricted purchase or are selling at a smaller premium than new sales prices. (not necessarily sticker.)
Many VCA members were able to purchase there SRT's just slightly over invoice. This will be reflected in the used market prices.

 

[onerareviper]

I could care less. I never buy these things for their ROI anyway. If I enjoy it then that is all that matters.

Spoken like a true Aristocrat. Unfortunately, many of us don't have that luxury, although someday I hope to. High ROI is the only way we can justify this type of purchase, and the only way we can afford to make it....

Anyway, I never though I would consider a SRT-10. But if they are starting to dip into the 50's, I may have to take another look. Personally, I love white in the SRT10. Although, I don't see those dropping for a while. Black is my next favorite. Plently of those out there.... Never say never....

 

[Kelly06]

ALL car prices are soft right now. The initial start to this topic is not timely, amazing, scary, news or informative.

 

[TZL]

ah...I think your confusing something here, high ROI? very few cars have high ROI, if even positive ROI, maybe an Enzo or McLaren F1 or classic Ferrari

Its more like minimizing negative ROI........

High ROI is the only way we can justify this type of purchase, and the only way we can afford to make it....

 

[SneakyPete]

What amazes me that the difference from a 2005 @ almost $90,000 compared to a used 2003 with 7000 miles @ $60,000 with no issues is an eye openener for me.

Almost $30,000 is alot of upgrades, I wonder how many red break calipers, trunk mats and red leather interiors I can get for $30,000.00.

Makes me wonder if the difference between the 2003, 2004 and 2005 is that someone at team viper started watching MTV's **** my ride. Were there and performance upgrades?

 

[Casey]

Almost $30,000 is alot of upgrades, I wonder how many red break calipers, trunk mats and red leather interiors I can get for $30,000.00.

Forget upgrading the Already-New Interior.

$30k at Heffner's will get you 1000hp!!

 

[SneakyPete]

Almost $30,000 is alot of upgrades, I wonder how many red break calipers, trunk mats and red leather interiors I can get for $30,000.00.

Forget upgrading the Already-New Interior.

$30k at Heffner's will get you 1000hp!!

That what I am talking about.

 

[quickysrt]

i am to blame for prices tanking. i have owned 3 of them so far and have sold them for barely anything since i dont care. i should get some help.

 

[Y2K5SRT]

What amazes me that the difference from a 2005 @ almost $90,000 compared to a used 2003 with 7000 miles @ $60,000 with no issues is an eye openener for me.

Almost $30,000 is alot of upgrades, I wonder how many red break calipers, trunk mats and red leather interiors I can get for $30,000.00.

Actually, you are a little off - no, make that a lot. The 2005 lists at around $85K, WITH the $3,000 gas guzzler tax and destination fee (+/- $800). First guy pays that fee/tax and already the car is under $82K. Then figure that is MSRP, which most people tend not to pay. Invoice is $74,236 on a brand spankin new 2005. In other words, your $30K hit is less than half that. For a car with ZERO miles and full warranty for 3/36 (bumper-to-bumper) and 7/70 (powertrain). Remember that your 2003 already has 2/3's of it's bumper-to-bumper warranty gone. And this is again using your lowball dealer with the lowest price I have EVER heard on a 2003 (not typical by a long shot). Even Edmunds shows it in clean condition with those miles at a dealer trade-in price of $64,178. Which I'll bet you could get easy as a seller. Even you noted that most are in the $65-$67K range.

I find it amusing that most people tend to think that a new car loses 20% of it's value the minute your drive it off the lot and it becomes a used car. Yet the Viper some two years later is still under that figure (19.1% from original invoice) using low-ball dealers like the one listed above. At $65K, that figure dwindles to only a 12.4% drop - in two years and 7,000 miles. By contrast, a brand new 2004 Z06 is $45,662 at invoice. Age it two years and throw 7,000 miles on it and you can pick one up for $34,000 without blinking an eye. For those keeping score, that is a drop of 25.5%. BIG difference. Use MSRP as in your comparison, and the SRT drops 26.3% in two years vs a staggering 34.9% for the Z06 - using your lowball dealer vs. Z06 prices found on Autotrader. At $65,000 for a 2003 (still low but more typical) the Viper has dropped only 20.2% in two years and 7,000 miles from new. Nothing close to the Vette or others.

Bottom line: The SRT-10 is doing just fine, despite rumors to the contrary and with a few non-Viper dealers trying to liquidate them.

 

[SRTRICKY]

Hey man can you give me the number of your dealer. I'm interested. Do you know if the car has any accidents/paint work etc?

 

[ARMORGOD]

Is it just that demand for the car is not there? when is the price fallout going to level off. If I buy one now for $60,000 and 3 month later you could get one for $57,000. Thats some pretty heavy depreciation.

I really feel sorry for the people that bought new 04/05 they will have a hard time selling the car without taking a bath as dodge has really increased the window sticker without adding alot to it.

Dodge has not "really increased the sticker" and there is no price "fallout." Cars are depreciating assets. Period (rare Ferraris, and the like, are obviously exceptions). As far as the SRT being particularly bad, like Chris said, it's the opposite - it maintains it's value better than most.

You couldn't be more wrong.

As far as that dealer offering that SRT at such a low price, they probably got it in as a trade and may have really stuck it to the previous owner (not giving him a huge allowance for it). So now, they can offer it so low, and still turn a profit.

 

[Japson]

Paid invoice for my '04, then $35K with RSI and $10K with Tony at Venzano. I'm taking mine back home to the UK with me so I can scare the natives for a year, sell it and still have enough money to come back over here and buy another new one. They list at $130K over there!!!

 

[SylvanSRT]

they are just a three year old used car now.

 

[SneakyPete]

As far as that dealer offering that SRT at such a low price, they probably got it in as a trade and may have really stuck it to the previous owner (not giving him a huge allowance for it). So now, they can offer it so low, and still turn a profit.

I guess that would about some it up. and makes the most sense.

This was my first run at crunching numbers of this car used and the numbers caught me off guard.

 

[Mamba man steve]

i paid for my MAMBA WHITE 75,000. it was a bargin. if the prices drop so be it. i love the car i get thumbs up three or 4 times in a mile. the car handles it shifts great (B&M) i put belanger heahders my third VIPER in THREE years thrilled with it. stop complaining either sell it or love IT.

 

[Art 138]

Living in the FT. Lauderdale/Miami area I can tell you that some of these Vipers have been used by "exotic rentals" which is a high demand commodity particulary from tourists. For example, there are a hand full of SRTs in Mexico. Several of my friends from that Country have rented SRTs and Ferraris from such businesses. Many of these are sold off at the low end "whole sale". University Dodge and Pembroke Pines Dodge 15 miles north of Miami recently had black mamba's as an asking price of 94 thousand. A black regular SRT is in the Sun-Sentenial area newspaper for an asking price of 74,000, with around 4,000 miles.

 

[TZL]

here is a 2004 SRT-10 with 1900 miles for $65.5k looks like a good deal. I think i'll wait until this winter to see what cars in the mid-west end up going for.....


http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=2491299016

 

[2002_Viper_GTS_ACR]

A friend just emailed me wanting to know what I thought about him picking up a new 2004 SRT-10 for 10k off Sticker. I know we are rolling into 05, and thats probably the rational for the lower price, but man, 10k off sticker, this sounds like the Gen II's when the SRT-10 was coming out, and they couldnt give them away.

Jon

 

[Y2K5SRT]

$65.5K is a good deal, although the car was curbed which doesn't help (that and the pop can sitting in the middle of the interior shots). With invoice around $74K and the Buy It Now at $66.9K, it still didn't depreciate as much as many think is the norm when it leaves the lot (roughly 10% vs. the expected 20%).

As for the other guy getting $10K off sticker, that appears to be a little bit below invoice, but probably not a money loser for the dealership. Many dealers are simply not set up to carry these cars and want to make a fast buck - or get it out of their inventory. That is a lot of money to have ******* in a car for a small dealership that rarely gets that type of customer. Remember, your typical Dodge dealer sells more trucks than anything else. Right now the more "upscale" passenger cars from DC (besides the Magnum) are the 300 (Chrysler), Crossfire (Chrysler), Pacifica (Chrysler), and PT Cruiser (Chrysler). In other words, there are probably not a lot of folks going to look at trucks that decide to buy a Viper instead. However when they go in to drop some bucks on an SRT-6 Crossfire, then they are a more likely target - if Dodge carried them. In other words, many dealers continue to dump them because they don't have an audience to buy them to begin with.

 

[DodgeViper01]

What amazes me that the difference from a 2005 @ almost $90,000 compared to a used 2003 with 7000 miles @ $60,000 with no issues is an eye openener for me.

Almost $30,000 is alot of upgrades, I wonder how many red break calipers, trunk mats and red leather interiors I can get for $30,000.00.

Makes me wonder if the difference between the 2003, 2004 and 2005 is that someone at team viper started watching MTV's **** my ride. Were there and performance upgrades?

My opinion, go with a slightly used one and use some of the saved money to get the extended warranty. Brought this topic up last month and now it seems to be a huge issue. The SRT-10's just were not as popular. GEN I and II cars dropped but not as much as they had a lower MSRP and most liked them more. To eachs own. If the car makes you happy then so be it but many are not buying cars to just watch them tank.

 

[Y2K5SRT]

The SRT-10's just were not as popular. GEN I and II cars dropped but not as much as they had a lower MSRP and most liked them more. To eachs own. If the car makes you happy then so be it but many are not buying cars to just watch them tank.

Man, you just aren't gonna give up on this one, eh? First off, the quote you are using was already refuted (see above). The "$30,000 difference" was a nice number, but totally bogus. It estimates the 2005 $5K too high right off the bat, and forgets that it is retail vs. invoice (subtract another $10K). Not to mention that the 2005 increased in price by $800 over 2004. Then his used price is, by his own admittance, about $5-7K below the average market asking price. Suddenly your $30,000 difference is less than $8,000 - which is a VERY strong residual as compared to most cars "tanking" by 20% the minute the front tires leave the new car lot.

Now where I take issue is your comment that "GEN I and II cars dropped but not as much as they had a lower MSRP and most liked them more." Most liked them more? Maybe in your house (or while you apparently try to position yourself to get one). Let's look at the numbers based on production:

1998 (GTS, RT/10, GT2) Total Produced: 1216
1999 (GTS, RT/10, ACR) Total Produced: 1463
2000 (GTS, RT/10, ACR) Total Produced: 2007
2001 (GTS, RT/10, ACR) Total Produced: 1978
2002 (GTS, RT/10, ACR) Total Produced: 1622
2003 (SRT-10) Total Produced: 1875
2004 (SRT-10) Total Produced: 2435

See any trend? Despite a price increase of almost $10,000 (my '00 GTS with stripes stickered $10,070 less than a 2005) the SRT-10 sold out it's first year in advance and clipped ALL Viper sales in 3 out of the last 5 years the Gen II was made. Then it outsold EVERY SINGLE YEAR of Viper except for 1994 in only it's second year of production. I know, there are still 2004's on dealer lots - but there are also some 2002's if you look around. Hell, one of our local guys picked up a blue/white '97 GTS last year that was still on the showroom floor and still on the original MSO. Every one of them will be sold. Oh yeah, and while I personally favor the looks of a striped GTS over the SRT, I get a LOT of people that comment they like the SRT-10 more. Make it yellow with the side graphics and I hate to admit this thing gets more compliments in a week than my GTS got in six months. And I personally think my black/silver GTS looked more exotic.

Put it this way, I sold my 2003 SRT-10 in June for about 8% less than what I paid brand new. I am pretty sure that if ANY car took only an 8% hit from being new to being almost two years old that the seller would think they won the lottery. Yet some people like the apples to oranges scenarios (inflated 2005 MSRP vs. dealer auction price on used) and just can't let go. Just admit that you like the SRT-10 then bite the bullet and buy one. This Chicken Little routine is getting old and all you are doing is screwing with an already small market with wild speculation.

 

[DodgeViper01]

Y2K5SRT:

I am not wild about the looks of the SRT-10 or the interior but I will admit it is a very comfy car and it handles pretty nicely! Much better to drive more often. Maybe everyday.

Now as for the production route. Yes the first year it sold out but you have to admit that there are more SRT's than GEN II's that are new on the floor. Even if you compare a year after the production year for the GEN II and now for an 04 GEN III, I think there are more GEN III's. Not a war, just friendly talk.

Lastly, as for your sale of your SRT-10, DAMN you are lucky. I wish we could all do that with our cars.

Hope this clears up somethings Y2K. No harsh feelings.

 

[George Murray]

What amazes me that the difference from a 2005 @ almost $90,000 compared to a used 2003 with 7000 miles @ $60,000 with no issues is an eye openener for me.

Almost $30,000 is alot of upgrades, I wonder how many red break calipers, trunk mats and red leather interiors I can get for $30,000.00.

Makes me wonder if the difference between the 2003, 2004 and 2005 is that someone at team viper started watching MTV's **** my ride. Were there and performance upgrades?

Don't forget the hardened differential pin upgrade!