The price dropped again... 2003?

[2tall]

RT/10's from '98 went from like $53K to $47K in the last few weeks. (dealer retail on edmunds.com) Private party is only like $44K.

Is this normal or because the 2003 is coming out? What kind of depreciation hit can I expect when it really does come out.

I'd hate to buy one in April just to have it tank in August/Sept.

-B

 

[Craig 201 MPH]

Depreciation or not, it's a Viper. I can sorta see the concern for retail but seriously, do you think about that when your blasting down your favorite twisty two lane putting miles on, getting it dirty while accumulating stone chips? The car is a total thrill ride, and while I can appreciate that it can be considered an investment, leave that worrying to the stock market and your house.

Just my .02

Craig

 

[TAPROOT]

Edmunds also lists 98 Supras at 30K when They are $elling for $37-$40 (clean with decent miles).If you buy a 03 it will hold its value for a long long time.All vipers do. No one will sell a 98 Viper for 47K better yet 44K. Maybe Edmunds will

02.

 

[garolittle]

Well said Craig.

 

[Craig 201 MPH]

Garolittle, Being from a family of a 94 RT/10 and 96GTS when presented with the opportunity to drive them, it's just a blast. Once I buy one (only 18) I'll never sell it, just mod it if it feels slow. The 94 stock is hella fast enough for me.

Craig

 

[2tall]

It's not so much that I'm looking at an investment really, but the thought of having it depreciate lower (value drop like maybe ~$7000?) than what's left on the loan because the '03 is out leaves me a little queasy.

I should just wait until after the release, but then I can't have the car until the year after next.

Ah, blast it. Misewell just jump on it...

 

[Phil]

Edmunds is only a guide book or reference only book. The prices listed in Edmunds do not reflect the actual price the car is worth. I should say Edmunds is very conservative on the car price listings. Your car is always worth more than what Edmund listed for.

 

[Matt M PA]

Those books are worhtless when it comes to cars like Vipers. Chances are that the values dropped now, as the 2002 models are out now. (Or soon will be) These books just decpreciate cars away each year...no matter whee real world values are.

 

[slaughterj]

From what I've seen, Edmunds is always lower than KBB and NADA, and if you can't buy one for the price listed (which you can't), then it clearly isn't correct or a concern.

 

[Casey]

If anyone talks to Edmund here soon, tell him I am a buyer at $44!!! Although, I am sure there is a long line for buyers at that price!
Not a chance '98 will sell for that unless it has been salvaged titled!

 

[JonB]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by 2tall:
RT/10's from '98 went from like $53K to $47K in the last few weeks.....Is this normal or because the 2003 is coming out
<HR></BLOCKQUOTE>


Since Sept 23 began the build of the 2002 Model, all used Vipers just became 1 model year older. Those 'for the masses' estimators do not fit well with the realities of Viper buying..........but one reality is, all Vipes, 1992-2001, just got a year older.

 

[Fast Viper Dan]

The "Book" prices are for the insurance companies.
They will pay out on these amounts. A car like the viper is based on how bad someone wants it. We have one dealer in CA. that charges and gets 20k-30k over book. They don't sell vary many but they do sell.

 

[Richard K]

Brett, just get those points taken care of and get the **** thing! Your think'in too much when you could be driving.

 

[2tall]

You don't have to tell me. I'm the type of person that decides to do something, researches it to find in the ins and outs and does it. This waiting is killing me.

Plus, I decided to buy a house in Royal Oak this winter, so I have to go with a 98 instead of a 01...

But the points are down to 4 (maybe 6 depending on a little hearing today...), and the car will be mine in March of next year (when I'll either have 2 or 4 points) -- in plenty of time for the Detroit VOI!

Now the real problem -- I've dealt with Bill P. and Rob G. (Hillsdale). Both extremely nice and very honest and resourceful. I have to disappoint one of them, how to choose????

Better price or better service???

-B

 

[Tom and Vipers]

I hate to say it, but during the past couple of weeks, "the bottom has fell out" of the wholesale car auction prices.

My guess is that the wholesale market will stay depressed and may probably get worse as it typically does towards the end of the year.

Beware that in January, it can pick up dramatically on the day after New Year's.

 

[Kevin ACR]

Wouldn't you think that the drop in value is tied to the general drop in the economy? Look at your 401k, your personal investments, general business conditions or trying to make the sales numbers for the year. If people don't feel wealthy discretionary purchases have to become tougher to make, if for no other reason than it doesn't feel real good right now. Of course its a great time to be a buyer. JMHO.

 

[JonB]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by 2tall:

Now the real problem -- I've dealt with Bill P. and Rob G. (Hillsdale). Both extremely nice and very honest and resourceful. I have to disappoint one of them, how to choose????
Better price or better service???<HR></BLOCKQUOTE>

Confucious say:

"The fleeting taste of a better price becomes bitter when the taste of poor service is all that remains"

Bill P / Woodhouse is well-known for better price AND service!

 

[2tall]

You might as well just say "JonB say", when it comes to Vipers. You've got as much clout as Confucious

 

[NascarDave]

My guess,

If you look at the "Big 3" all offering 0% financing, it's usually cheaper to buy new than used. New cars have been selling like crazy which has put a big surplus of used on the market.

my .02,

Dave

 

[Tim]

We are coming into fall and in some parts of North America cars such of the Viper will depreciate slightly until spring when prices will go back up. As well all of North America is into a recession so us Viper owners will also be effected negatively at this time. Every year the prices will continue to go up on the new Vipers pricing them selves further out of reach of the average guy. Look at 30 year old Chargers, Darts etc where they built tens of thousands of them in each year. New they were selling for $3500 and today $20 to $30,000 even with 340’s and 440 Magnums. Of course these are cars that are in mint shape that have appreciated 600 plus % over 30 years. Our Vipers kept in decent shape will also continue to appreciate. Long term investment, you can’t lose. As well look at the fun that you can have. Who’s says you can’t make money and have fun at the same time. In the long run, we can’t lose if we look after what we have and keep the car close to stock. After market parts are nice but it is next to impossible in most case to recover that money.

Tim
94 RT10
Alberta Ca

 

[2tall]

Dave:

Explain to me how it's cheaper to buy new (because I'd sure like to). The first year's depreciation, gas guzzler, and lux tax are more than the 7% (or whatever) financing fees over 5 years, plus the monthly is higher anyway... Or at least that's my understanding.

Enlighten me.

 

[dancojax]

Now I don't know for sure, but I have always suspected that ALL of the value guide services use a formula to determine value.
I suspect that they can even tell you what percent of original purchace price the May 2006 value will be for a 2003 model right now.
I first came to this conclusion when the 'books' listed values for a 1963 Studebaker Avanti (with different values for each model) in about 1966. They listed 'average wholesale'; 'average retail'; and 'average loan'. As far as I could tell, not a single one was for sale or had been recently sold in the entire US. After a year or two, they just quit listing prices on cars like that.
I think it's all done with smoke and mirrors.