Current SRT/10 Market Value Questions

[GlennSullivan]

Hi

I'm new here and the reason I've joined is I'm anticipating purchasing an SRT/10 vert shortly.

Currently I'm looking for some honest opinions on current market values on 04 and 05 SRT/10 verts.

First some background. In 05 I set our to buy either an 06 Z06 or an 06 Viper. I Always liked both cars but at the time the Z06 won out in my decision process. I've had it for 2 years now and am thinking it is time to add the Viper to my garage.

I'm looking at several used SRT/10 verts right now (04 & 05) and if everything checks out would like to make a "market correct" offer on one of the cars. When I say market correct, I'm not looking to steal the car, neither am I looking to buy a car high in a soft market and be short $10,000 next year. I want to be realistically fair to both myself (especially myself) and the current owner. In one case this is a private owner and the other it is a dealer.

That being said, it appears that the current Viper market is soft. I say this because there are scores of cars across the country currently for sale and brand new 600 HP cars are already going unsold at dealers and being offered at discounts (unheard of).

I watched last year while D/C dumped new 06 Vipers on the market at what had to be close to $20,000 off sticker, which hurt the resale value of 03, 04, 05 and previously sold 06 models. BTW this is currently happening in the Z06 market, but thats another story for another day.

I've been looking at asking prices vs selling prices and I'm seeing a huge descrepency in what people are asking for cars and what they are actually selling for, when they actually sell.

I've talked to friends of mine who manage high end car dealerships, they basically don't want Viper trades. I've looked at the current Galves books which every car dealer uses, but that only tells the wholesale side of the story.

Can some people "in the know" here shed some light on the current state of the used SRT/10 market?

Thanks for any assistance you can provide.

Glenn

 

[Vipermann]

Looks like you've already gathered lots of information. Most of the higher-priced sports cars are 'soft' these days. It's not a Viper-only thing. Low-mile, like-new Corvette Z06s are going for $50K-$55K ...

eBay Motors: Chevrolet : Corvette (item 270213142873 end time Feb-23-08 19:00:02 PST)

eBay Motors: Chevrolet : Corvette (item 130198235733 end time Feb-23-08 16:49:34 PST)

eBay Motors: Chevrolet : Corvette (item 280200608223 end time Feb-23-08 09:10:19 PST)

If you buy anything new for over $75K, any sports car, you're going to lose $10K-$15K as you drive it off the lot.

 

[Smog Dog]

Looks like you've already gathered lots of information. Most of the higher-priced sports cars are 'soft' these days. It's not a Viper-only thing. Low-mile, like-new Corvette Z06s are going for $50K-$55K ...

eBay Motors: Chevrolet : Corvette (item 270213142873 end time Feb-23-08 19:00:02 PST)

eBay Motors: Chevrolet : Corvette (item 130198235733 end time Feb-23-08 16:49:34 PST)

eBay Motors: Chevrolet : Corvette (item 280200608223 end time Feb-23-08 09:10:19 PST)

If you buy anything new for over $75K, any sports car, you're going to lose $10K-$15K as you drive it off the lot.

My thoughts exactly. He's already done plenty of shopping. It's a good time to buy, particularly if you don't have something to trade.

 

[wallbanger]

basically if >10k miles shoot for under 50k if <10k miles shoot for just over 50k

i sold my 03 7 months ago now at the asking price in 10 days... A few mods that are valued and u might want to look for and i believe the reason my car sold so quick

1. A car that has the crossover pipes and removed for decrease in cabin heat and replaced with hf cats and/or corsa exhaust
2. Clear bra ... those that don't have one wish they would have gotten one particularly on side sills
3. Run flats replaced with PS2s and onboard compressor
4. Any rims other than the old heavy 10 spoke
5. DC performance computer flash or replacement greatly improves the running of the car and is specific to your car mods
6. 180(i think) thermostat
7. custom floor matts
8. mgw shifter
9. upgraded spark pluggs(ask racer robbbie), manual transmission and rear diff fluid changed

Also the buyer wants serivce records, and the original replaced parts like the original computer , gear shifter etc

btw my buyer was a vette owner

car cover is also a nice touch.... all these things show that u took care of the car......AND for some reason the words single owner doctor driven seem to help...

Also don't count out the 03 models....i purchased mine with 300 miles on the odometer... it was a late production with red calipers... i rode it hard for 19 months and put 18k miles on it with no problems(recalls had been done)

 

[Nine Ball]

I've been considering picking up a 2nd Viper, an early SRT convertible like yourself. I've seen them selling in the low $40s with hardly any miles on them. As long as you like red, silver, or black, there are tons of them ready to be bought. An SRT Viper in the $40s is a screaming deal for what you get.

And yes, all pricey toys are currently soft on the market right now. Good time to be a buyer, bad time to be a seller. Look at this 12K mile C6Z that sold for $50K yesterday:

eBay Motors: Chevrolet : Corvette (item 320219853386 end time Feb-22-08 10:40:51 PST)

 

[GlennSullivan]

Thanks for your comments, even though I'm a new guy!

Believe me, I'm fully aware of the Z06 situation, When I picked up my 06 from Kerbeck I paid sticker (71,000), had the #54 delivery spot in the US and could have sold it for 15,000 over anytime during the next year.

Today if I needed to sell the Z06, I'd get probably $55,000 because brand new cars which sticker for 78,000 are being dumped by dealers for 68,000, 10,000 discount. oh well.

I look at e-bay and see so very few Vipers actually changing hands that I'm not sure what a private market sale is these days.

Galves says that wholesale on an 04 with 3,000 to 5,000 miles should be 45,000 to 46,000. I'm thinking a good private sale offer should be 50,000 51,000. Am I in the ballpark?

 

[Lee00blacksilverGTS]

Thanks for your comments, even though I'm a new guy!

Believe me, I'm fully aware of the Z06 situation, When I picked up my 06 from Kerbeck I paid sticker (71,000), had the #54 delivery spot in the US and could have sold it for 15,000 over anytime during the next year.

Today if I needed to sell the Z06, I'd get probably $55,000 because brand new cars which sticker for 78,000 are being dumped by dealers for 68,000, 10,000 discount. oh well.

I look at e-bay and see so very few Vipers actually changing hands that I'm not sure what a private market sale is these days.

Galves says that wholesale on an 04 with 3,000 to 5,000 miles should be 45,000 to 46,000. I'm thinking a good private sale offer should be 50,000 51,000. Am I in the

ballpark?

I don't think you can pin it down that neatly. Referencing Wallbangers post above I think the car would be higher if it met his specs. It would be higher to me personally if it was a known car being sold by a private individual, ESPECIALLY someone here. It's pretty easy to guess how a viper was treated when you can evaluate the owner. Or rely on a dealer like Woodhouse or BJ Motors. The break in procedure on these cars is critical for the first thousand miles, not following that or ignoring the oil change right after that can show up a lot later with nasty problems .No reason not to pay a few grand more for the perfect car from the perfect owner.

 

[GlennSullivan]

I don't think you can pin it down that neatly. Referencing Wallbangers post above I think the car would be higher if it met his specs. It would be higher to me personally if it was a known car being sold by a private individual, ESPECIALLY someone here. It's pretty easy to guess how a viper was treated when you can evaluate the owner. Or rely on a dealer like Woodhouse or BJ Motors. The break in procedure on these cars is critical for the first thousand miles, not following that or ignoring the oil change right after that can show up a lot later with nasty problems. No reason not to pay a few grand more for the perfect car from the perfect owner.

Makes very good sense. Like with everything else pedigree has value

 

[DodgeViper01]

Hi

I'm new here and the reason I've joined is I'm anticipating purchasing an SRT/10 vert shortly.

Currently I'm looking for some honest opinions on current market values on 04 and 05 SRT/10 verts.

First some background. In 05 I set our to buy either an 06 Z06 or an 06 Viper. I Always liked both cars but at the time the Z06 won out in my decision process. I've had it for 2 years now and am thinking it is time to add the Viper to my garage.

I'm looking at several used SRT/10 verts right now (04 & 05) and if everything checks out would like to make a "market correct" offer on one of the cars. When I say market correct, I'm not looking to steal the car, neither am I looking to buy a car high in a soft market and be short $10,000 next year. I want to be realistically fair to both myself (especially myself) and the current owner. In one case this is a private owner and the other it is a dealer.

That being said, it appears that the current Viper market is soft. I say this because there are scores of cars across the country currently for sale and brand new 600 HP cars are already going unsold at dealers and being offered at discounts (unheard of).

I watched last year while D/C dumped new 06 Vipers on the market at what had to be close to $20,000 off sticker, which hurt the resale value of 03, 04, 05 and previously sold 06 models. BTW this is currently happening in the Z06 market, but thats another story for another day.

I've been looking at asking prices vs selling prices and I'm seeing a huge descrepency in what people are asking for cars and what they are actually selling for, when they actually sell.

I've talked to friends of mine who manage high end car dealerships, they basically don't want Viper trades. I've looked at the current Galves books which every car dealer uses, but that only tells the wholesale side of the story.

Can some people "in the know" here shed some light on the current state of the used SRT/10 market?

Thanks for any assistance you can provide.

Glenn

2004 - 2005 with low mileage (under 10,000 miles) should be around $50,000 to $58,000. Anything over that is really not worth it as you can get into a 2006. I would say that the mid $50s is where you want to be and under if you can. Be patient and the deals will become available. Good resources are eBay, Autotrader, Cars.com, The VCA Classifieds, Woodhouse, etc.

Anything with higher mileage is lower but hard to tell you an exact price since a 15,000 mile car will be a bit higher than a 30,000 mile car. Personally, if you can find a car with higher mileage that looks like a 10,000 mile car, go with it, especially if you are going to drive the car often. That way you will minimize the amount lost over time.

 

[TexasSnake]

Do not purchase any newer model sports car if one of your main objectives is to turn around and resale it in the near future expecting to get close to what you paid for it...

..now older classic cars would be a different story, as they are selling at sometimes crazy prices.

Buy a Viper (or any newer sports car) because you want to enjoy it and have fun in it, otherwise you are fighting a lost cause.

Take care...

 

[Venomiss]

http://forums.viperclub.org/dealer-...-dealerships-post-good-first-time-buyers.html

"In case you didn't see this.
Here are two pages from Viper owners with critiques on used/new Viper dealerships from all over the country. Covers buying and service and might come in helpful.

Thought about meeting some Viper owners in your area? In our club we have quite a few members who sell their cars by word of mouth. The bonus being you actually meet the owner along with getting the history on the car you purchase.
Good luck in your hunt and welcome!

 

[Nine Ball]

I look at e-bay and see so very few Vipers actually changing hands that I'm not sure what a private market sale is these days.

Shopping for a Viper online is a bit misleading compared to shopping for a Corvette. I took about 4 months looking for my Viper, and in that period of time I probably only saw a couple new cars come on the market each week. But, the problem was that dozens of them were on the market for several months. They simply weren't selling. Keep in mind that there are very few Vipers out there compared to Corvettes, so you won't see as many for sale. Typically on ebay, I was seeing a rough average of ~100 total Vipers for sale at any given time. That includes all years of Vipers.

 

[GlennSullivan]

Shopping for a Viper online is a bit misleading compared to shopping for a Corvette. I took about 4 months looking for my Viper, and in that period of time I probably only saw a couple new cars come on the market each week. But, the problem was that dozens of them were on the market for several months. They simply weren't selling. Keep in mind that there are very few Vipers out there compared to Corvettes, so you won't see as many for sale. Typically on ebay, I was seeing a rough average of ~100 total Vipers for sale at any given time. That includes all years of Vipers.

With 06-08 Z06 Corvettes, it was only a matter of time before supply caught up with demand. Build 8000 units a year and eventually you will outstrip demand for an $80,000 americal specialty car.

I was actually suprised with the low Viper production that I was seeing so many going unsold in the last few years. I always thought that Vipers had a strong following and that the relatively low production would keep the values relatively stable.

I'm not in any particular hurry. I'd prefer to by a car in a private sale transaction (although not opposed to a dealer sale) and I am willing to wait for a no stories, no excuses car somewhere not too far away where I can personally go and inspect the car prior to purchase.

 

[Freiherr]

Inspecting a Viper personally before you purchase it is a must, I think.

Plus, in my special case fortunately it wasn´t too far away at all: just one 10hrs transatlantic flight and a 2hrs drive from Orlando to Saint Petersburg and the same way back afterwards.

Guess I was just lucky.....

 

[GlennSullivan]

Inspecting a Viper personally before you purchase it is a must, I think.

Plus, in my special case fortunately it wasn´t too far away at all: just one 10hrs transatlantic flight and a 2hrs drive from Orlando to Saint Petersburg and the same way back afterwards.

Guess I was just lucky.....

Wow, That is some trip, and expense to look at a car!

 

[GlennSullivan]

I finally found what I was looking for. 2004 Red Vert with 3200 miles. The car is in perfect condition, not a scratch on it as you would expect of a car with that mileage.

I took the advice from some here and paid a little more for an original owner, no stories car.

 

[Phoenix SRT]

And what did you pay?

 

[GlennSullivan]

And what did you pay?

53000 with the Corsa and the original exhaust plus a cover.
The exhaust and cover added value for me and so did the
fact that I did not have to fly to inspect the car or
ship it back home, which would have added several thousand
to the overall cost to acquire the vehicle.

 

[Venomiss]

Congratulations on your new Viper and be sure to join us!