Could vehicle appreciate in value?
Asked by Guru9Z312Z Dec 22, 2020 at 01:50 PM about the 2016 Chevrolet Camaro 1SS Convertible RWD
Question type: Car Selling & Trading In
Camaro ss convertible 2016 18,600 miles
close to excellent condition. Garage kept. I
want to pay off $20,000. and keep. Can it
appreciate?
4 Answers
A 2016 isn't collectible, but could be worth something in maybe another 40 years. But then again maybe not when everything is electric and you can't find gasoline.
Nope. It will go down in value for years to come. It will probably bottom out in 20 years or so and if it is super clean and low miles it might start to come back up eventually.
If you want a collectible get the most expensive and rarest model, leave it in climate controlled garage and only put 500 miles a year on it going to car shows.
As others have said, probably not right now. But if you can wait 20 or 30 years, maybe. People look back on their youth with sugar coated memories and become nostalgic for cars and things from that time in their lives. We're starting to see prices rise again for Camaros and Firebirds from the 80s and 90s for that reason. Then you have the younger people who have heard their parents stories about that simpler time and think it would be great to have a car like their Parents or an older sibling had. Another draw for the young is that you don't see a 20 or 30 year old vehicle everyday. So that makes it cool to! For example my 94 Fleetwood Limousine draws attention whenever I take it out. It's usually a younger person who has never seen one who approaches me with questions about the car. To me the car isn't that old, but in reality it is. Especially to someone who is in their twenties. So, I would say buy the Camaro, drive it, and enjoy it. Don't look for it to be worth millions anytime soon! Plus if you factor in the storage costs, you'll never get a return on your investment anyhow! Hope that helps! Jim