I have some experience with dealerships since I worked for 4 of them over 5 years as a line tech (mechanic) and 2 years as a foreman.

What you are talking about is great if you do not like money and you need a way to get rid of it. Buying older used car from a dealer is like buying costume jewelry at a high end jewelry store. It’s the same stuff that is at the dollar store but it just cost way more.

I cannot think of any 1997 Camaro that is worth 20k. Maybe a 1997 SS with the LT-4/ 6 speed with under 50K miles that has had all normal items that fail with time replaced with GM parts. Keep in mind a collector car like that goes down in value every time you drive it. Course you can find stuff at high end dealers that will ask more than 20k but keep in mind the dealers most likely paid less than half of their asking price on the car. If a dealer is asking $9999 I would bet he paid around $4000 for it and has another $200 in labor cleaning it. Same car from a small lot 7K from a private 5K or less.
Financing an old car can be problematic. Many places will not finance over 12 years old, the ones that will are going to charge higher rates regardless of your credit score. Dealers also get kick backs (AKA service fees) for the financing. Your best bet is to find a credit union or use your existing bank. I once bough an older car by refinancing a newer car I had which let me keep my 1.9% rate. Had I just financed the older car it would have been at 3.9% at the same credit union.

The best way to get a deal at the dealer is to show up with financing already handled and you tell them the price you are willing to pay. Do it on or near the end of the month and be firm. The last car I bought from a dealer was a 1986 Monte SS. I told them what I was willing to pay they laughed at me. Salesman called me the next day with an offer, I told him not to call me again unless then can do my deal. He called me 2 more times trying to negotiate, I hung up on him both times. The 4th call he just said we will take the deal. That was on a Friday before the end of the month. Sales managers report sales by month and if you get luckily they are below their monthly goal and don’t mind breaking even on a car if it puts their sales numbers above their goal. I have even heard of sales mangers taking a loss on a car just to make a goal. Salesman like to act like they are doing you a favor and they are doing everything for you and they are in charge. You are in charge.
The best cars almost NEVER get traded in at the dealerships. You have a garage kept cream puff and your going to trade it in for 20% less then what you can sell it out right? Most car guys have a list of friend/family that would take their car off their hands for full blue book+ because they know the car.

No matter what it is still critical to get the car checked out especially if it is at the dealers. In most cases the car is either an auction car or the seller was dumping it at the dealers. Let’s say the car starts shifting funny some times, mechanic pulls the pan fined bad stuff, quotes the customer $2500 to repair the trans. It is still a low miles valuable car he doesn’t want to sell it to a friend or family member or even online. He dumps it at a dealer as a trade in. It happens every day. That car is now a hot potato, no one wants to be holding it when the trans goes. Someone is going to get stuck with it. I cannot tell you how many times I have given customers large quotes and was told “I will just trade it in”. Car Fax is a great thing but keep in mind no one has to report anything to car fax. Dealers and insurance companies do report but anything done to the car outside of those two will not show on a Car Fax. If a car was wrecked and the driver did not have insurance and had a semi complete repair done at joe smo's body shop it will not be on the Carfax.

Make sure you keep an eye on the blue book valve. Insurance company will not care what you paid for the car. If it is totaled you get current value. You put 5K down on a 10K car someone rear ends you at the first stoplight your insurance is giving you the current BB value. If that is $6200 then that is what you are getting.

 

Wow I just looked at the Kelly Blue book value on low miles Z28, when did the floor fall out on these. 1995 Z with 35K miles is $5500 from a dealer on the high end with $4700 being average. $4100 is average on private sales. That is 35,000 miles on a Z in perfect condition or as KKB says top 3% of the cars out there. Most companies that finance older cars are going to look at KBB value and offer 80% of that, Meaning on the below car the max loan would be around $4400.

http://www.kbb.com/chevrolet/camaro/...icetype=retail

 

woh 93 is 32 to 48

 

I wonder if its the winter issue in my area, not many people buy sports cars in winter unless it is a great deal. Kelly advertises it uses real/recent sale prices.

 

ya the cars don't have much value they go bye the average cost in the Area we live ,so yes most of our 4th gems are not worth much only to us ,but I would say ,the right car with say 30.000 on it say one owner I could see paying $8000.00 an if it le1 ss then even better keep looking on craigs list an local adds ,I would stay away from dealers bring your 75 point check list ,an small floor jack ,take long test drive ,let it sit an idle a long time,have magnifying glass an flash light last year I seen a 2001 ss with 60.000 for $4000.00 make an offer ,then 96 plum color exactly like my 95 zr1 wheels $2750.00 with 78.000 miles ,so for $6750.00 could have had 2 fine cars that were gone in days live an learn ,most fixer uppers are not worth fixing ,then when we get into builds just forget about it,i could have bought them both an had the 3800 to ,builds cost more money its just a fact,but do I realy need 3 Camaros 2 is great ,if you want power like said ,if you want great gas saver an still get up go pretty good the 3800 is a great car ,most just spend as much as you can get z28 for though,i got to say some of the best places, I have seen the deals are RI NY NJ PENN just got to do a lot of searching .

 

The blue book is low. I just bought a 2002 v6 camaro last fall. I did pay more than I wanted .I liked the car,great shape,never drove in snow,35,000 miles,auto,old man driven. I paid 7000.00,at a dealer, I know,but I wanted it.
I am nervous about getting hit or cracking it up as the value is less than I paid,I will have to be cautious,but hey it's still sweet ride.
I have also ben driving it in the snow,it's okay,I did put snow tires on it,it helped immensely! I'm more worried about ice buildup in the jambs,when I open the door there is a lot of ice crunching going on,those plastic parts make me nervous .

 

Hello Allen, I am John. I have a 94 z28, just replaced motor, new tranny (4L60E) auto, fuel pump, exhaust, cold air intake and some other odds and ends. Car still needs some work. As of right now, I seem to be having some electrical issue with it and am just frustrated with the whole GM company. If you are still interested in it, I am selling for 1500.00 also just put 4 New 245-55-16's on as well
If interested, contact me at ....jondawg44601@yahoo.com
thanx,
John

 

Ok so Ive done some more shopping & found this.
2002 Chevrolet Camaro - Flushing, MI
An 02 Z28 with only 1,150 miles. Listed for $18k. Still think that price too high?

 

That car is a beauty! If that's what you want that's the one to get.

 

I agree with 80sz, I dont mind paying over Blue Book value for one. Why? Because I do not plan on using one as a daily driver. Just a summer driver/show car. I'd be crazy to use one as a daily in this area. Our Western New York winters would destroy it within a few years.