03 SRT-10 9K miles sold for 62.5K

[AG98RT10]

OK this is getting scary. Just talked with the gentleman who sold this car in one day (surprise!). Someone got a very great deal.
http://www.autotrader.com/fyc/vdp.jsp?car_id=168655404&dealer_id=&car_year=2003&make=DODGE&distance=any&max_price=99000&model=VIPER&advcd_on=n&end_year=2004&min_price=0&first_record=101&address=24012&search_type=used&advanced=n&start_year=2003&=&color=&cardist=1024

When the 03's drop below 60 next spring, I may have to have one...

 

[quickysrt]

most of the guys that sell em that cheap are like me. i didnt care about taking a hit on my 03 so i just sold it to the first guy that could have me a good amount of money fast.

 

[quickysrt]

i realy want a gallardo with e-gear. if only they depreciated as fast as our cars.

 

[quickysrt]

ok ok last post...i just checked on that link and i didnt even sell my car that cheap. thats pathetic. why are they depreciating that bad? wonder what my mamba will be worth in a year?

 

[Y2K5SRT]

why are they depreciating that bad? wonder what my mamba will be worth in a year?

In a word, they aren't. The guy above sold his car in one day - also referred to as "emergency liquidation". It is a very small market (SRT-10) and who controls the pricing? The sellers, especially when it comes to used Vipers. One Viper does not a market make. He could have sold it for $50K in that same day and everybody would have worried that the sky was falling. Again, it is one car.

Put it this way, eight weeks ago I sold my 2003 SRT-10 for $69K with 7,000 miles on it. So does that mean the market dropped over 10% in just two months? Nope. That means that some guy dumped his SRT-10 and caused a small blip in the market. But like the stock market, if people follow this very poor example in droves, then you can worry.

Bottom line: If you can't get at least $67K for a clean '03 with under 10K miles, you aren't trying...

 

[AG98RT10]

Well, I wouldn't be so hasty to dismiss the effect of this "one guy's" action... Also, consider the coupe may come out next year, further speeding the depreciation as hundreds of SRT-10 owners dump their low-mileage roadsters for the new coupe. I spent a dime to talk with him, and the car was "perfect." A dealer bought it, btw.
I really think the benchmark right now for nice 03's is somewhere beween 62 and 65. 04's aren't that much behind that mark (69-74K). What I think will happen is the 03 and 04 values will start to merge at 60-65 in the next six months. Summer driving season is almost over and "getting peak value time" is already passed.
I've got about 46K in my RT and would be hard-pressed to get that out of it. I think it's just the name of the game: pay to play.
Sorry, but those are the depreciation facts of life as I see 'em. Pity the guy who payed 86K for an SRT less than a year ago. What a beating.
Do ya think Dodge has these things priced too high??

 

[quickysrt]

just because the coups come out doesnot mean that the convertibles should suffer. not everyone wants a coup and not everyone wants a convertible.

 

[AG98RT10]

Well, I agree in part, with you. I don't particularly want a coupe either. But, no one can deny the effect it's going to have when the coupe finally comes out - many, many Gen III roadsters will flood the market over a couple of years, and that WILL depreciate the price.

I'm counting on it, since I must have an SRT-10 someday. Great car.

 

[GR8_ASP]

I agree with Chris on this. Most of the agreement in the low ball pricing is from non-SRT owners. Fortunately, SRT's are relatively rare
on the used car market and if the owner is willing to wait until a buyer comes he can price it reasonably. Only fire sale needs will result
in a 62K SRT. Now how many of these fire sale cars do you think will exist?

The same thing has happened with the Gen I and II. Listening to these forums, mostly by enthusiasts, you would think you could pick up a
Gen I for less than 30K and a Gen II in the 30's. My opinion is that is pure horsepucky. Yes, someone somewhere needing an immediate sale
probably has sold for that low. But that does not mean ALL will sell that low.

Because of the relative rareness the owners should have a significant degree of control over pricing. There is not much non-Viper competition
in the Viper class to provide a lot of price competition and pressure.

My $0.02

 

[quickysrt]

we need to destroy a shipment of srt10's on there way to dealerships(or just hide them in my back yard, i wont play with em i promise) that way their is a huge demand and resale prices will come up.

 

[Y2K5SRT]

Well, I wouldn't be so hasty to dismiss the effect of this "one guy's" action... I spent a dime to talk with him, and the car was "perfect." A dealer bought it, btw.

And there is where I rest my case. Assuming the dealer didn't buy it for himself, he bought it to make money. And he will make money by putting it closer to the real market value and not $62.5. My bet is that the car sells again within the month for at least $65K. And nobody will post anything about it and the last we will have heard about this car was $62.5.

Unfortunately, this creates an opportunity for buyers and does affect the market when it is so incredibly small to begin with. It goes like this: A guy (or gal) is looking for a used SRT-10. Where do they look first after the local paper has none? The VCA forums. What do they see? "SRT-10 sold for $62.5" Do they find any at that price? Nope. But do they use that as a bargaining tool for those that are for sale? If they know how to buy, you betcha. They tell that seller, "Well gee, I could have bought a similar '03 for $62.5 just last week. You are way out of line on that $69K." The seller doesn't bite, but does start to worry he is priced too high. He drops his price by $2K, as do 1/3 of the other sellers that get called. Now you have a market fluctuation due to this one seller who sold too low - and who sold to a dealer no less.

My advice to ALL Viper owners (Gen I/II/III): Be patient and ask what you truly think your car is worth. One of our local members has a pristine '98 GTS that he absolutely loves and very recently joked that he would sell it - for $62K. Imagine his surprise when he got a real offer of $61K (and turned it down). The used Viper market is a lot smaller than you think and you can get what you need out of most of them. Just have patience, good advertising, and don't give in to the "fire sale" mentality - you hurt yourself and the rest of the Viper market. Oh yeah, and this also holds true for new Vipers at some of these dealers that can't sell them for $10K over sticker for six months - and decide to dump them instead. They also put a hurtin' on the Viper market as a whole.

Anyway, just my thoughts on this. No flame to you at all AG98RT10, especially since you are a potential SRT-10 buyer and want to see prices drop. Can't blame you a bit!

 

[ledfoot]

[email protected] was one wide post..............

 

[JKNUST]

I think AG98RT10 wants an SRT!

I paid $80K, or was it $90K, for my used 03 SRT a few weeks ago .... so I'm bringing the market back up now that I own one and reported that price! For those on the hunt..... keep the deals a wee bit quieter! Once you own an SRT, you'll understand. It's like kissing and telling....

You must be registered for see images

Whatever I paid, it was worth it... the car is a blast!

 

[Kelly06]

I agree with SRT on this. Not everyone wants a coupe. It will level out over the long run. Anyway, who wants such a great car as the viper without both options? For once, look at the vettes, their verts cost way over base and hold the value.

 

[FLOORIN04]

Maybe the guy was hard up for $$$$$.Either way i hope a dealer did not buy this.Hopefully a new member will apear out of this.

 

[WANTED]

if you read the guys post a dealer is the one who bought the
car, so i really wouldn't worry to much about it. also the car did
have alot of miles on it for a viper that is only one year old.
kissing and telling is not the best idea either as was noted
earlier in this post. i just purchased a new 03 myself and is
currently on its way, bought it from a dealer who one year ago
purchased it from someone who had a certificate and paid over
sticker for it. they tried for over a year to profit from it and got
greedy which in turn stopped them from getting a buyer. the car
still had the plastic on it. i wont say what i purchased it for
but it does help being in the right place at the right time. i
spoke with a few dealers to compare what i was paying with some
of them offering to buy it from me before i titled the car which
to me means the only ones getting these cars at the price stated
above are the dealers and maybe some lucky few who get to the
seller before they do, like i did. dealer auctions tell all and
if you check manhiem results you will find 03's going for low to
mid 60's which have miles on them, like the one above. very low mile
03's will go higher. the 04's are going in the high 60's to low
70's. 2 weeks ago at manhiem a 04 with very low miles went for 76k.
so i really wouldn't worry about the sky falling unless your in
financial trouble and need to sell asap. another thing i have found
is that when selling if the buyer lives closer to you and can come
over to see the car they tend to pay more by being able to see it. i
sold my o2 rt/10 graphite with 9200 miles on it 3 weeks ago for
over 60k, there is a market for these cars as long as your not
desperate.

just my $0.02 worth

by the way gen III much much much more refined car.

tom

 

[AG98RT10]

Maybe the guy was hard up for $$$$$.Either way i hope a dealer did not buy this.Hopefully a new member will apear out of this.

A little more info, when I called the guy who sold it, he did say the dealer bought it "for himself." Now, I realize that might not mean that much, given that dealers will say just about anything... I did remark that his price was the lowest I'd ever seen and he just said,"I didn't want to mess around with it, and needed the garage space for my new Bentley." No kidding...

Anyway, YES, I would love to have an SRT-10 some day (not in the market for a coupe at all) and I will sell my '98 RT for the first 55K that shows up!

 

[imsa2004]

I was watching a03 at a dealer auction last week. It had 2100 miles and brought 66k. A black 03 with 5000 miles
brought 66.5k.

 

[RavenFan_94]

Ok, let me shed some light on the sotry. I almost bought this car about three months ago. He was orgially asking $72k. The best price I could get from him at the time was $69k. I suppose, as reported, that he decided not to wait and sold the car pretty cheaply. However, this one has been for sale on Autotrader for the better part of the summer.

We can speculate that there will be a few 'firesale' type stories if/when the coupe is announced, with some guys just needing to get out of their cars. I do fully agree with past precendance of the GTS in 96 a full 4 years after production of the RT. I don't recall the GTS killing the values of the RT's and don't see it playing out any differetnly. Seems only logical that the SRT Coupe will affect values of the GTS more so than the SRT?