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Discussion Starter #1
Would like advise on whether or not this is a good deal. Went looking at ZO6s today and came across a new one at a dealership close to my home. It has the following options:
Memory Package, Body Side Molding, and Electrochromic Mirrors. Sticker price is 52540.00. Without much converstation with the dealer, he knocked of 5k. Then he mentioned the 2k incentive from Chevy or 0% financing for 60 months. Does this sound like a resonable price or should he come down more in the price? Any suggestions would be appreciated.
 

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So the dealer's down to 45,500 right now? That's a decent price, assuming it's a new close-out 2003. Wait a few more days and you might get him down another couple grand. The closer it gets to Dec 31st, the more he'll want your business. :cool:

If you get the car for 42 grand, you will be a HERO
 

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Mr. Casino
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Kerbeck's has a 2004 on their home page for $45,352. Maybe you can leverage your dealer by showing him the ad.

http://www.kerbeck.com
 

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Grey Squirrel
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Check out Kerbeck Chevrolet. Why buy a leftover 2003 when you can buy a 2004 for 14% off the sticker price. I bought my 2004 from him and no one even came close to his price. Besides, the 04 might be worth something down the road as it is the last C5. Wishful thinking on my part but you never know. Go for the 2004! :partyon:
 

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elints said:
Kerbeck's has a 2004 on their home page for $45,352. Maybe you can leverage your dealer by showing him the ad.

http://www.kerbeck.com

what a great site.......thanks for posting it. They got a lot of 04's there. Went thru every single site they had.......great fun:excited:
 

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I want 45k and 0% on a yellow 04 Z06. Is this possible?

Is the 0% and 2k back only for 2003's before Dec 31st? If so, I better get on it.

I have never bought a new car, so I am not sure how it all works.
 

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Discussion Starter #10
You should be able to pick up a new 2003 for 45k or cheaper. The GM incentive is either 0% financing for 60 months or 2k off invoice. It is good till the end of the year. But you can pick up a new 2004 ZO6 for anywhere between 45-47K. As the date gets closer to the C6, you might even get a better deal on the 2004s. Check out Criswell and Kerbeck dealership. They seem to have the lowest prices.
 

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Damn, so the 0% deal is just till the end of the year?

That means I have about a week. How hard is it to get 0% from the dealer without the GM incentive?

Basically, I just want to know if I should buy my Z06 before the end of the year or wait?

I don't want to wish I had bought it now in June, and I don't want to wish I had waited come spring.

Please help me make my decision. I have decided new, decided 04, decided color, now I just need to know when to buy to get the best deal.
 

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Grey Squirrel
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JDWK, go with the 2004. Kerbeck Chevrolet will sell it to you for $45352. That's 14% off the sticker and about $700 or so under the invoice. Chevrolet is offering 5.9% financing for up to 60 months. Kerbeck uses Chase automotive financing and can get 4.9% for up to 60 months. No one is going to give you the $2,000 rebate and 0% financing. You may have a hard time finding anyone with a 2003 Z06 left in the color you want. Most dealers get an allocation each year on the number of Corvettes they can sell, and they also tell them when they can order them. Alot of people do not qualify for the 0% financing from GMAC. You have to have near perfect credit. The 2003 is discounted $2000 off the sticker not the invoice. And most dealers do not discount to much else off the sticker. You have to go to a high volume Corvette dealer such as Kerbeck. Check around, I'll be willing to bet you can't find a much better deal on an 03 than an 04 from Kerbeck.

www.kerbeck.com
 

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Ponch, thanks for the info.

Yeah, I am not sure if I will qualify for 0%. In fact, I probably won't. I have perfect credit, own a house, but I am only 23 so I don't have a lot of credit to begin with.

5.9% or even 4.9% isn't great, that is around $100 a month of wasted cash. At least the rest of the money is just depreciating with the vette, which pretty damn good compared to most cars.

I am trying to look a this from a financial perspective. Vette's hold their value exceptionally well. In fact, they hold it so well that $45k for a Z06 is one of the most sensible new car purchases out there. In three years, the 04 Z06's book will still be in the upper 30s.

That is only a loss of about $2500 a year, which isn't bad at all to own your dream car. Hell, my 96 MX-6 lost 2k on it's book value this past year, not counting the 1k I spent in maintenance and upgrades. But add 5.9% and you are losing an additional $1300 a year to the bank. $3800 isn't quite as good a deal, still very much worth the reward, but it makes the decision harder.

My dad is a financial wizard. I will talk to him and see what he thinks is best. Although he may tell me to go to hell, since he still hasn't bought himself a vette. He keeps buying Hondas and saying his next car will be a vette. He is just too practical now.

I want to avoid that road at all costs. If that means a $750/mo car payment and a little less cash to throw around in retirement, so be it.
 

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Discussion Starter #14
JD, must be nice to own at vette at 23!!!..I was 43 before buying my first vette, and I was like your dad with the hondas, datsuns etc etc. before the vette.

From what the dealer told me there are no incentives on 04 models yet, only on the 03 models.

Earlier today I was speaking with my financial advisor, and he suggested to me that a home equity loan might be a better road to take, as the interest is tax deductable. Just another thought. Also the dealer might give you a better deal if you have a check in hand to pay cash?
 

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Grey Squirrel
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If you took a $40,000 loan at 4.9% for 60 months it would cost you $753 per month, $86.35 of that would be intrest. You have to watch though, is it worth it to have such a high payment for the car. You may be better taking the down payment from a home equity line so you can write that intrest off each year. Basically I financed half and took half from the home equity. The interest payment on the equity loan is very small, maybe $50 per month + $415 payment = $465 rather than $753. And if I don't like the car, I sell it and repay the equity portion. I'm no financial wizard but I saved myself almost $300 per month.
 

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Discussion Starter #16
Ponch I totally agree with you. This is what I plan to do when I buy either a 04 ZO6 or the new C6.:agree:
 

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Grey Squirrel
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I went with the 2004 coupe from Kerbeck, I love that car. I have to look at the C6 for a while when it comes out to see if it will grow on me. From the pics I've seen, I'm not to sure if I'm going to like it. I showed my wife the ad pic for the C6 and she didn't like it at all. So I'll stay with the pop up headlights for now.
 

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I thought about the home equity loan already, although I don't have near enough equity built yet since I have only had the house for seven months.

I get offers all the time in the mail about loans at rediculously low interest rates, but those are always ARMs. Besides, it would just seem stupid to take out a second mortgage already even if it would give me some leverage at the dealer.

I have absolutely no debt right now (except for the house), and I would love to just pay cash for the Z06. Unfortunately, it would take about two years to do so at my current rate of investment, and even then it would be better to take a low rate on the car and keep the money liquid. So what is the point in waiting? The only advantage gained will be security since I will have the cash to back it up. Assuming I don't blow it on other things, or the market crashes again.

The C6 Z06 will be out then, and it may be a better car, but it will be MUCH more expensive, and I need a second car now.
 

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Discussion Starter #19
Ponch, once again I am in agreement with you. I was pretty hyped up about the C6, but when I saw the photos I was not impressed. I'll most likely purchase an 04 ZO6 come March/April time frame.

Never owned a car where the ext. paint was black. Understand they are pretty hard to keep clean? Not into the red or white, and my 96 is yellow. Would like the electron blue, if GM offered it. Maybe the grey? Any suggestions?

IRIGHTI :smokin:
 

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My MX-6 is black, and so is my friends '02 Z06. Black is my favorite color, but it is terribly hard to keep looking good. You have to wash it all the time, but no color will give you the satisfaction that black gives after a good bath.

The biggest problem is that it shows everything, and after a year or two you can see all the spider marks and faint scratches from just the dust and dirt in the air. Thankfully, you can only notice that stuff in direct sunlight. In the garage, at night, or even under the slightest clowd cover it looks great.

I love black, but since I already own a black car, I am going with yellow. I think every car forum I have ever been a member of has a few good threads on color debates. I doubt this one is any different.
 
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