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Are people "dumping" their Vipers. What will happen to resale

Discussion in 'General Viper Discussion' started by MuscleJunkie, Aug 26, 2011.

  1. MuscleJunkie

    MuscleJunkie Enthusiast

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    Seems to be alot of Vipers out on the market these days. I can't imagine what this is doing to resale value. Are people just dumping them to cut their losses? I'd imagine that with the announcement of the upcoming model, that will just bring value down even more. Am I missing something here?

    Moderator edit No links to ads that are not in the classifieds here please.
     
  2. speedracervr4

    speedracervr4 Enthusiast

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    I honestly don't see a big change from when I bought mine three years ago. Approximately the same amount of Vipers on ebay,autotraders and forums. They're cheaper than then because of the mileage and age depreciation.
     
  3. MuscleJunkie

    MuscleJunkie Enthusiast

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    I don't remember but I am sure there are some here that do. What happened to GEN II and GEN I values when GEN III was released?
     
  4. FrgMstr

    FrgMstr Guest

    I would say the value on the Gen III cars has gone up since I bought mine in October of last year.
     
  5. Gus Strakes

    Gus Strakes Enthusiast

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    For me I think my cars are holding value. Next month will be 8 years since I bought my FE. It had 900 miles on it, perfect condition, and I bought it for slightly less than the one I just saw on fleabay with 3900 miles (8 years later). I know, I know, asking is one thing, but it still makes me smile to see that on a web sight that typically attracts bottom feeders.
     
  6. VYPR BYT 94

    VYPR BYT 94 Enthusiast

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    After a certain point, the book value means nothing. The Gen1's are like 20 years old now... best time to buy one because of how the banks look at things with book values. Just around the corner the value starts to go up now because they are moving toward a different classification. Cars are different than houses in that regard. Who wants to buy a classic house? :)
     
  7. JLorello

    JLorello Viper Owner

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    There has been a consistent 110-130 vipers on EBay since early this year when I started looking for mine.
     
  8. Mopar Steve

    Mopar Steve Enthusiast

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    I just purchased a GTS this month. I had been looking for a NICE GTS for a while before I bought mine. There are several rough cars available but very few nice cars. The nice examples will always bring a premium price. I have also watched prices rising on both gen 1 and gen 2 cars. I got mine for a "fair" price. I would have liked to get a better buy but the selection wasn't that large and I was willing to pay for a better quality car.
     
  9. STUGOTS

    STUGOTS Enthusiast

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    same here, got mine in Dec and they went WAY up since
     
  10. Twister

    Twister Enthusiast

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    yep....remember back in 09 when you could find 03s for 36 and 08s for 59......

    now 03s are solid 40 and 08s are solid 65
     
  11. TheMilkman

    TheMilkman Enthusiast

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    I just went and edited my current ad. It does feel like you are dumping the car when you are selling it at or below blue book.
    It seems a number of people can't get loans on cars valued over Blue Book.

    So, if you want to see a "Dumped" 2008 Coupe, check my ad
     
  12. JohnnyViper

    JohnnyViper Enthusiast

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    awww ad not approved yet :(
     
  13. FastZilla

    FastZilla Enthusiast

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    What is a "FE"?
     
  14. BlknBlu

    BlknBlu Enthusiast

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    Final edition

    Bruce
     
  15. FastZilla

    FastZilla Enthusiast

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    Thx - I'm being a smarty pants - stuck in a airport - drinking heavily :)
     
  16. viper_itch

    viper_itch Enthusiast

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    yeah, I'd say things are basically the same from when I started my search last winter for an '08

    I think ebay has about 10 up there... That's about right. Prices are basically the same too..
     
  17. Canuck

    Canuck Viper Owner

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    There is a lot of financial turmoil in the USA, which is where most Vipers are.

    Families are faced with a choice of foreclosure, health crisis, college tuition (student loan agencies arent lending anymore) and possible job loss.

    This is a change from the boom years when Vipers were bought in an age of prosperity.

    Pulling the trigger on selling a Viper means opening up an injection of Cash, and also ceasing the ongoing costs of insuring, repair, etc.

    Gets a bit crowded on sales side if everyone does this at once, since buyer's market is small, making prices fall despite the US currency being worth less but the Viper being the same fixed item in replacement material, while currency moves.

    When stocks are so low, blue chips become accidental high-yielding dividends, meaning if one was considering selling Viper anyway in few years, could sell Viper cheaper than book value now, invest, and end up with more than the book value in cash next year.

    If one wants to make money, there are better ways than a Viper. If get happiness from a kick-ass car though, then among ways to purchase a car for around $30,000, then dollar-for-dollar, a Viper is the best value around today, for both price stability and possibility of appreciation.
     
  18. Bill Pemberton Woodhouse

    Bill Pemberton Woodhouse VCA Member VCA Member

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    Everytime someone posts something like this we get a myriad of answers, some based on actuality , whereas others are about as concrete as given by " Martha the Mystic" who sees all and tells all.

    The simple reality is that compared to a year ago , based on virtually all the guides ( remember these are not the Bible , just educated guesses and they do vary ) , the Banks ( which determine what they will loan on a used machine ), and Dealers, used Vipers have stabilized or actually gone up a little.

    Though an increase of 1 or 2 thousand may not seem like much, the willingness of the Banks to loan more tells a different tale as ever since the Government intervention , booking out a car is the new , normal trend. Since Vipers are booking out better at the Banks, it is easier for Dealers/Sellers/Buyers to get a loan accomplished.

    I often wonder when lots of comments of dumping,etc. start permeating a Forum ,with folks who often are not Club members or even own a Viper, are they trying to artifically bring about the perception? At present the market is not only fairly normal, really clean Vipers are getting scarce, IMHO.
     
  19. viperdrummer

    viperdrummer Enthusiast

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    If folks are dumping late models they are not doing a good job of it. I may have miscounted, but I saw only 2. 2009 Vipers on ebay and 13 2010s. Not many . I just bought my second 2010.

    What is mystifying to me (and not just because I own one) is the low prices first year 1992s go for. It may take awhile but being first year and such low production I would think folks are missing out not scarfing up these.
     
  20. plumcrazy

    plumcrazy Enthusiast

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    bill, some of us are members and own vipers. some of us look around at the economy and can see things going on around us, some of us are not afraid to speak the truth, some of us are NOT viper dealers trying to keep the price of vipers up to make a living, some of us realize its summer and that pricing on cars (exotics especially) are going to stabilize this time of year....but thats just some of us.. :)
     
  21. Smog Dog

    Smog Dog Enthusiast

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    I will be amazed if your Viper does not sell quickly at that price! Good luck!

    Bill
     
  22. Nine Ball

    Nine Ball Enthusiast

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    I've been seeing used Viper values increase over the last 2 years. The low point was 2008. Same with cars like the Ford GT, those have gone up too.
     
  23. v10enomous

    v10enomous Enthusiast

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    This price seems like a realistic price to actually sell the car. There was a red 09 coupe with no stripes with under 3k miles that just sold for $66k on ebay the other day. The guy who works on my car sold his venom red 08 no stripes vert with 1,100 miles on it a year and a half ago for $60k. He also sold his 07 Zo6 and took the money from both for a 2010 ZR1. New Vipers depreciate about the same as any other brand new car in the first two or three years. There are 323 Vipers for sale on Autotrader which is higher than normal but I don't think people are dumping them.


     
  24. Nine Ball

    Nine Ball Enthusiast

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    Autotrader sucks. Half of the ads on that site are outdated and are left up by dealerships as ads to attract you to call them. The cars are long sold or gone, ads remain.
     
  25. Bill Pemberton Woodhouse

    Bill Pemberton Woodhouse VCA Member VCA Member

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    Plum,

    Perception is not always the truth. The fact that all the guides and the Banks are now valuing Vipers higher than they did a year ago is just the situation. Whereas no one is saying the economy is great the facts are it is now easier to get a loan on a Viper as they are carrying higher book prices. Since the Government intervention it has been tougher to get loans without large sums down , and this has eased in the past year. With values up this has made it easier for folks to buy Vipers from individuals , dealers ,etc.

    This has nothing to do with working at a Dealership and is simply analysing the market , but being in said market daily does mean I need to follow trends, and since we have to put more in Vipers now to trade, and so do other Dealers, that also lends credibility to said market conditions . Do they vary around the Country , sure, but not sure why you would be upset if values have gone up or stabilized? Not a big rise at all, but one just the same.
     
  26. viperdrummer

    viperdrummer Enthusiast

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    Interesting thread . A few observations.

    1. Agree Autotrader is not a good gauge. Stale
    2. Late 2010 --2011 market is much different than in 09 when I bought a new vert at $75k(yep)
    3 I have bought 2 2010s and haggling changed. (though the vert I bought this week for a number of reasons was a steal)
    4. Dealers can"wish" the market all they want but the market is what it is and now it is stronger. The things that dealers could do to manipulate the market result in jail time and none of the ones on here are in that category.

    I think any significant Viper dealer would tell you the same thing--the market has picked up. Will it hold? Who knows?
     
  27. plumcrazy

    plumcrazy Enthusiast

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    for the record, id NEVER say bill would do anything wrong to get himself in that kinda trouble...
     
  28. viperdrummer

    viperdrummer Enthusiast

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    Plum-- agree my comment had nothing to do with BP. Just that dealers, have little control. I think what BP said was consistent with what buyers and dealers in the current market are finding. If and when the 2013 comes out I may be real sorry to be holding 2. 2010s.
     
  29. Coloviper

    Coloviper Enthusiast

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    Cars are worth what the individual is willing to pay. Comes down to condition, colors, options, etc. There will always be cheap "storied" cars out there, more expensive garage queens and tasteful mod cars as well somewhere in the middle. Market seems to be picking up a little from what I see in available cars and the costs, resulting in slightly higher prices for certain cars, etc. While the economy is not running on all 10 cylinders, is definitely not running on 2 either as the major news channels try to convince everyone of. There are hardships galore in the economy but other sectors that are busting at the seams. Just depends on what industry you fall in.


    Until manufacturing comes back to this country, and the US stops pushing the damn globalization model, it will continue to run on an odd number of cylinders. Wish the flood waters would have washed out Washington and we had to rebuild the government from scratch. All sides are the problem right now, with the major media networks backing and trying to "make news".
     
  30. bluesrt

    bluesrt Enthusiast

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    2013 vipers will be untouchable for a year or 2- so i dont think we have to worry to much about value,as a matter of fact i bet the 08 and up cars will slightly go up in value till the new car wears off
     

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