viper as a driver/ residual value?

[redlightrich]

Hi all, after being unsucsessful in selling my ride, I am at a point where I must make a decision. If I were to use my 06 coupe as my driver, and put approx 15k per year on it, what do you think it would be worth in say, 2 years assuming I take very good care of it. (no snow and so on). I paid too much by todays standards as I bought it when it just came out, so I would already take approx. a 20k hit. I think my depreciation will have to slow down from this point forward, any help would be appreciated. I thought maybe someone in the community is up on leases, which might be a good guide for me. Also, being in NJ, does this seem like a realistic car for a driver, assuming I dont need it in the snow. Would I need to change tires for something that sticks better in the cold and rain? Anyone use a gen 3 as a driver? if so, any gripes? I really appreciate any help. Thanks, Rich.

 

[Lee00blacksilverGTS]

Lot's of questions, but if you bought high, I would hold. Whether you drive it as a daily or just keep it for weekends. There will be a lot of surprises once the final production numbers come out for 06. Coupes will be pretty rare and there will be no Vipers made for a bit. Wait and see what happens.

 

[YellowViperSRT10]

I use my viper as my daily driver and love it. I go pretty much everywhere with it and never had so much fun!

 

[Newport Viper]

Mine is a dd, but I don't live in NJ.

 

[saleens281]

buy a ******. get a credit card and buy a car for 500 bucks and drive that in the winter, thats what im going to do, well if i ever get my viper

 

[99 R/T 10]

By having a second car, it will save a butt load on insurance cost too

 

[CCBrian]

I got caught earlier this year in my FE in both the rain and light snow. It was fine. My friend has a new '06 ZO6 and it was downright scary that same trip in the wet/snow. Differences in the tires were apparent at first signs of rain.

 

[badsnk]

I use my '04 mamba as a daily driver in upstate New York from mid March to end December. Have over 100,000 miles in vipers since my 96 RT/10. Stickier softer tires on the '96, but MUCH better wet capabiltity on the SRT as well as twice the milage out of the rears. Absolutely no problem in the rain, but snow a different matter.

 

[Chuck 98 RT/10]

Did you buy the car as an investment or to enjoy?

 

[Joseph Houss]

Great suggestions. As a NJ to NY commuter, I agree with Saleen's comments. Buy a second car (front wheel or AWD). Your advantages will be many:

1) Depreciation on your Viper will be MUCH less
2) Wear and tear on your Viper will be MUCH less
3) Insurance COULD actually go down (or stay close to the same) as now your primary car is a compact, less expensive car.. your Viper becomes "car #2" on the policy
4) Snow/rain won't be a problem
5) Gas savings at 15K miles per year would be significant (25-30 mpg versus 15 mpg)
6) Save thousands on Zaino as you won't have to polish the Viper every day!

Take a look at the gas savings:

15,000 miles at 15 mpg = 1000 gallons x $3.00 = $3000
15,000 miles at 25 mpg (conservatively) = 600 gallons x $3.00 = $1800

Difference = $1200 / 12 mos = $100 / mth

Now factor in the depreciation savings:

Viper with 30,000 miles versus Viper with 10,000 miles
Potentially $10,000 or more difference?

$10,000 / 24 months = $416.00 / mth

Correct me if I'm wrong but that equates to $516 per month that you could utilize for that PT cruiser or Caliber or ? lease!

Take a look at the PT Cruiser (or Dodge Caliber)... LOTS of deals out there... should be able to grab a new one for $14k or under or even lease something (just make sure you get 15k miles per year on the lease, as this will allow you to use it for ALL commuting activities, and enjoy the Viper for what it's best at!).

 

[slaughterj]

Screw all the preceding crap - drive the car!

 

[Tom F&L GoR]

Something doesn't look right when the VCA director/prez/sec/etc is advocating not driving a Viper...

 

[MikeR]

Its a hard decision. On one hand i want to drive it everywhere I go and find excuses to run errands on the weeekends. On the other hand, though its not an investment, I dont want the miles adding up too quickly.
I work for a Volvo dealer , so I bought an older wagon. I drive it to and from work. Use it to haul crap, load 40 galloons of water for my fish tank, etc. Dont have to worry about parking it at the grocery store. Fo rme it makes sense and makes it less stressful. I know sometimes theres places you just dont want to take the Viper and leave it parked.

 

[DEVILDOG]

Screw all the preceding crap - drive the car!

Agree.

 

[ulllose]

DRIVE THE DAMN THING.

 

[Tommy K]

You pay good money for these things, and everytime I chicken out either because of pending bad weather, or where I'm going...later I'm wishing I'd just had driven it! Working on some excercises...
"It's just a car, it's ok if it gets dirty"
"It's just a car, it's ok if it gets dirty"
"It's just a car, it's ok if it gets dirty"

You know how many people I hear say that they'd kill to have a Viper...Drive it bro, you only live once!

.02,
TK

 

[redlightrich]

thanks guys, no I didn't buy it as an investment, and really didnt care that I was paying full list to have it. I wanted #68, as that number is significant to me. I have other cars and trucks to drive in winter. My insurance is only 1050 per year on this car which I think is ok. Its just my situation is about to change, but hey what the heck, you're right, we only go around once, and my wife will take half the hit financilly so, I guess its a good problem to have! Still would love to know what lease company's hang on this as a residual value in 2 years.

 

[PatentLaw]

There is nothing wrong with Mr. Houss's calculations. They are realistic. Maintenance could also be a huge factor. New tires? All of it needs to be considered instead of "just drive it".

 

[YellowViperSRT10]

You pay good money for these things, and everytime I chicken out either because of pending bad weather, or where I'm going...later I'm wishing I'd just had driven it! Working on some excercises...
"It's just a car, it's ok if it gets dirty"
"It's just a car, it's ok if it gets dirty"
"It's just a car, it's ok if it gets dirty"

You know how many people I hear say that they'd kill to have a Viper...Drive it bro, you only live once!

.02,
TK

Haha, i say the same thing. Although i drive it everyday it looks like it is never driven since i wash it at least once a week and spend like 3-4 hours doing so. I am crazy about keeping it perfect, yet i stil use it everyday because the car is just to damn fun not to drive!

 

[Joseph Houss]

Something doesn't look right when the VCA director/prez/sec/etc is advocating not driving a Viper...

On the contrary Tom....

It's my experience at commuting that allows me to suggest this option.

When you are as passionate about a car as most Viper owners are, it is much more than just transportation. EVERYONE on this board surely feels this way. Yes, it would be awesome to drive a Viper every day. But to and from work is more of a chore.. than a hobby (although ANY time in a Viper is a good time).

Additionally, considering his geography, you still need transportation for those snowy weeks (months?)... as no one here would suggest driving their Viper in 6 inches of snow.... so why not grab another "commuter" for those drab, snowy, rainy, or just plain midweek days... and potentially save those Viper miles for even more years of enjoyment, and save gas, insurance, Zaino and wear and tear to boot?

Oh, by the way, ahem ..... RETIRED VCA director/prez/sec/etc.

Just my humble opinion.

 

[Tom F&L GoR]

My perspective: I'm 70 north of NYC and drive 11 months/yr. Car stays outside 100% of the time. Bought with 20,000 miles and has 85,000 miles and would be more except I bought a company car. I frequently commute to CT and get 22 mpg. I have more wear and tear from one Lime Rock event than all on-road miles. Otherwise I'll argue maintenance on a ****** will cost more than on a new Viper, or least be equal given the price of tires.

Logically you haven't saved any money with the second car, you've spent the same total amount. (And I'm still not sure about the total insurance of two cars costing less than one car.) KBB difference in private party sales of an '04 (selling in two years, so this is representative) with 20K and 40K miles is $69K vs. $62K, so the selling price difference due to "high" mileage decreases with age.

At the end of two years you "break even" but didn't drive the Viper as much. Hmmmm....

IMHO, passionate is buying a second Viper for daily use!

 

[Brad04Mamba]

My 04 white mamba listed for $87 i think, the residual after 39 months is 48K. Sorry can't help you on 24 months

 

[VENOMAHOLIC]

thanks guys, no I didn't buy it as an investment, and really didnt care that I was paying full list to have it. I wanted #68, as that number is significant to me. I have other cars and trucks to drive in winter. My insurance is only 1050 per year on this car which I think is ok. Its just my situation is about to change, but hey what the heck, you're right, we only go around once, and my wife will take half the hit financilly so, I guess its a good problem to have! Still would love to know what lease company's hang on this as a residual value in 2 years.

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IMHO, KBB and other appraisors are usually way off on value. It is very difficult to predict value of Vipers in general because they are a rare specialty car. Who would have thought a set of new ACR wheels would top $10,000 from a dealer for instance. I would have bought all I could and resold them today had I known.

I have noticed in general on all gen Vipers that once you get over that first hit of depreciation off the lot, depending on condition they hold value better than any other car. If you ever want to know what your Viper is worth, look in the classifieds and study what a similar Viper to yours is asking and how long it takes to sell.

As for the DD question, I hate being stuck in rush hour bumper to bumper in my Viper so driving to work is rare for me especially since I refuse to leave it in the lot with the top off for 10-12hrs. I drive it after work and on weekends enjoying the open roads.