Find the depreciation rate of your Chevrolet Camaro in the graph below.
Vehicles depreciate at different rates, and by identifying the factors that impact your vehicle’s depreciation, you can gain a greater understanding of its long-term value and total cost of ownership. The steepest drop in value normally takes place in the first year after purchase, after which the vehicle depreciates more slowly. Then, after the five-year mark, the average annual depreciation begins to tick down at a slow but steady pace. The Camaro seems to defy the normal pattern, though, with an erratic pattern of depreciation in the initial five-year window.
Keep in mind that just because the vehicle costs the least to own in the sweet spot we have outlined here, you still may not want to own the vehicle during these depreciation sweet spot years. Although vehicles depreciate less as they get older, they have more repairs. Duh right? However, keep in mind that repairs don’t just cost you money, they cost you time. Reliability is the difference between being able to make it to your destination on time or missing an opportunity because the car broke down.
Check out our article on the best and worst years of the Chevrolet Camaro to see our reliability ratings for all years of the Camaro between 2001-2022. We also cover MPG, safety ratings, and a number of other factors. We pulled data from CR-Vs registered in our app and surveyed owners to get you data-backed answers on just how good or bad each year of the Camaro is.
If you want to know the depreciation and maintenance costs for your particular vehicle, use our free “Total Cost of Ownership” tool available in the FIXD App – Android or IOS.
If you like our online tools and articles consider purchasing our FIXD sensor for $19.99 (this is 67% OFF). It’s our flagship product. With it, you scan your car for common engine problems.
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Chevrolet Camaro Depreciation
| Model Years | Mileage | Amount Depreciated | Residual Value Percentage | Resale Value |
| 2001 | 264,000 | $ 20,305.38 | 5.1% | $1,092 |
| 2002 | 252,000 | $ 22,083.75 | 5.1% | $1,175 |
| 2003 | 240,000 | N/A | N/A | N/A |
| 2004 | 228,000 | N/A | N/A | N/A |
| 2005 | 216,000 | N/A | N/A | N/A |
| 2006 | 204,000 | N/A | N/A | N/A |
| 2007 | 192,000 | N/A | N/A | N/A |
| 2008 | 180,000 | N/A | N/A | N/A |
| 2009 | 168,000 | N/A | N/A | N/A |
| 2010 | 156,000 | $ 23,426.86 | 18.4% | $5,278 |
| 2011 | 144,000 | $ 22,668.29 | 20.4% | $5,798 |
| 2012 | 132,000 | $ 21,905.78 | 23.5% | $6,739 |
| 2013 | 120,000 | $ 21,630.50 | 27.0% | $7,986 |
| 2014 | 108,000 | $ 20,321.31 | 32.0% | $9,567 |
| 2015 | 96,000 | $ 17,769.85 | 38.1% | $10,921 |
| 2016 | 84,000 | $ 17,279.49 | 44.4% | $13,779 |
| 2017 | 72,000 | $ 15,624.02 | 50.2% | $15,760 |
| 2018 | 60,000 | $ 15,562.39 | 50.7% | $15,973 |
| 2019 | 48,000 | $ 10,083.25 | 66.7% | $20,237 |
| 2020 | 36,000 | $ 9,643.33 | 69.3% | $21,720 |
| 2021 | 24,000 | $ 5,774.92 | 80.5% | $23,854 |
| 2022 | 12,000 | $ 2,510.73 | 90.7% | $24,535 |
| 2023 | 0 | N/A | N/A | N/A |
The chart above conveys the approximate depreciation for a Chevrolet Camaro. It’s based on Kelley Blue Book data since 2001, assuming a vehicle in standard trim, a generic color such as black or white, and a mileage of 12,000 per year. It’s important to note that Chevrolet discontinued the Camaro after the 2002 model year but brought it back into production in 2010.
Keep in mind that the auto market was heavily affected in 2020 and beyond. Automakers selling new cars during the COVID pandemic raised prices which caused a spike in demand in the used car market as people tried to save money. Many automakers, however, did not drop prices after the pandemic, they kept them so they could make a larger profit.
This is why the most recent years of many vehicles have seemingly experienced less depreciation. Some may have even appreciated due to the heightened levels of inflation created.
Factors That Impact the Chevrolet Camaro Depreciation Rate
An automaker’s reputation, as well as the individual reputations of its vehicles, has a considerable impact on depreciation. The more reliable the brand, the more likely it will retain its value over the long term. Chevrolet has struggled with its reputation for a while, but there are some gems in its lineup, and the Camaro is one of them. Indeed, while Chevrolet may be “one of the less reliable brands” per Consumer Reports, the Camaro is appealing for its legendary status and refined performance.
Brand reputation is just one of the factors that inform a vehicle’s depreciation rate. Here are some others to consider.
Age
To determine a vehicle’s age, you have to look at its model year — a designation that indicates a model’s release version more so than its calendar year of release. Typically, the current model year is the one that holds the most value because it offers the latest and greatest features. New products, in general, are more appealing to consumers because they seem to promise a value or experience that was previously unavailable.
We can see how novelty affects vehicle value when a new model year comes out. Imagine that you bought a brand-new 2023 Chevrolet Camaro, but then the 2024 model hits the market the very next day. Overnight, you would see a steep plunge in the value of your practically unused vehicle because it had become an outgoing model.
Body Type
Body type is a classification based on a vehicle’s general size and shape. The following body types are what you’re most likely to encounter at a dealership:
- Sedans
- Coupes
- Sports cars
- Hatchbacks
- Station wagons
- Sport utility vehicles
- Minivans
- Pickup trucks
The Chevrolet Camaro is a sports car. It’s a two-door vehicle designed with performance in mind. The general rule is that sports cars depreciate faster than other types of vehicles, partly because they tend to cost more, and most secondhand buyers aren’t willing to pay a premium for a used performance vehicle.
With that being said, the Chevrolet Camaro appears to be an outlier in the sports car category. For one thing, it’s much less expensive than other sports cars, with a starting MSRP of just $26,400 for the 2023 model year. Moreover, having developed legendary status in the pantheon of American automobiles, the Camaro also has what Karl Brauer, executive analyst at iSeeCars, calls “aspirational appeal,” so many consumers consider the status worth attaining even through the secondhand market.
Mileage
Mileage indicates how far a vehicle has traveled. On average, American drivers put 12,000 miles per year on their odometers, so we used this value in our models. If you divide a vehicle’s total mileage by its age, you can determine whether the vehicle has clocked below- or above-average mileage.
With more travel comes more wear and tear, and that correlates with higher chances of encountering mechanical issues. In turn, secondhand buyers are less likely to pay high prices for high-mileage vehicles given the likelihood of having to pay for repairs and replacements.
Overall Condition
Overall condition refers to how well a vehicle runs and how good it looks. A vehicle in good condition should be free of glaring mechanical problems and cosmetic blemishes, both inside and out. If your vehicle checks all the boxes, then it should fetch a higher price on the secondhand market, as you’d be saving the buyer the need to pursue their own repairs and restoration services.
Aside from performing or paying for reconditioning, here are some proactive measures you can take to help ensure that your vehicle remains in good condition:
- Drive carefully so that you avoid accidents, which can damage the body, interior, and mechanical components.
- Shelter or cover your vehicle when it isn’t in use. This protects it from the elements, which can cause damage.
- Follow your maintenance schedule. Routine services are effective for preventing mechanical failure and identifying issues as they arise.
- Clean your vehicle regularly. This not only keeps it looking good but also removes corrosive materials in the undercarriage that may accumulate during winter (e.g., from road salt).
Color
Your vehicle’s color relates to its popularity. Supply and demand affect your vehicle’s depreciation because value reflects how much consumers are willing to pay, and consumers generally don’t want to pay for a vehicle whose looks don’t match their tastes. That being the case, here is the general hierarchy of value for vehicle colors:
- Desirable paints in relatively low availability
- Desirable paints in high availability
- Undesirable paints
If you want to get a sense of which paints fall into each of the above categories, take a look at the 2023 color study by iSeeCars. Compared to an average of 22.5% depreciation over three years, the study found that yellow, beige, orange, and green vehicles depreciated much more slowly (from 13.5% to 19.2%), whereas brown and gold cars depreciated significantly faster (24% and 25.9%, respectively). Cars in common colors such as blue and gray depreciated on par with the average.
Other Costs of Chevrolet Camaro Ownership
In addition to depreciation, consider these other costs of ownership to assess your Camaro’s long-term value.
Insurance
A vehicle’s characteristics are among the factors that go into determining an auto insurance rate. The safer a vehicle is, the more likely it is to attract a lower monthly premium and vice versa. In general, though, insurance providers don’t consider sports cars to be safe. Vehicles such as the Camaro reach high top speeds and are marketed to consumers who may exhibit risky behaviors on the road.
Consequently, insuring the Chevrolet Camaro can be a costly pursuit. Based on data from model years 2015-2020, we found that the average cost of full coverage for the Camaro is $2,294 per year compared to the “,630 average for all vehicle models.
Maintenance
Routine maintenance is important for keeping a vehicle in optimal working order as well as for identifying issues that may lead to failure down the line. With diligent maintenance, you help ensure that your vehicle remains in a condition that can fetch a higher price on the used market.
Our data shows that the cost of maintaining a Chevrolet Camaro is $475 per year. That’s quite low, especially considering that the average maintenance cost for all vehicles is $694 per year. Some Camaro model years are on the costlier side, however, so we recommend checking out our graph on current market values versus repair costs in our Best & Worst Years article. The summary, though, is that you should avoid the following model years if you want to minimize how much you spend on maintenance:
- 2002
- 2012
The 2002 model year is especially costly, with an average of $1,375 per year. The 2012 model year is less expensive but still significantly higher than average at $781 per year.
The Best Model Year To Buy a Chevrolet Camaro
Based on factors including price and reliability (but not depreciation), our choice for the best Chevrolet Camaro model years to buy are the 2013-2015 and 2016-2021, but check out our article on the best and worst years of the Camaro to get the whole story.
We recommend the above model years because they have excellent reliability ratings, terrific fuel economy, and low costs of ownership. With the 2013 model year you also fall within the ownership sweet spot.
Buying a Chevrolet Camaro New vs. Used
| 20-Year Projection | ||
| Years Since Purchased | Depreciated Value | With Inflation |
| 1 | $23,945 | $26,434 |
| 2 | $21,252 | $24,834 |
| 3 | $18,295 | $21,491 |
| 4 | $17,609 | $20,762 |
| 5 | $13,385 | $15,706 |
| 6 | $13,253 | $15,512 |
| 7 | $11,722 | $13,741 |
| 8 | $10,058 | $11,860 |
| 9 | $8,448 | $9,995 |
| 10 | $7,128 | $8,524 |
| 11 | $6,204 | $7,542 |
| 12 | $5,386 | $6,731 |
| 13 | $4,858 | $6,178 |
| 14 | $2,930 | $3,766 |
| 15 | $2,719 | $3,442 |
| 16 | $2,323 | $2,912 |
| 17 | $1,822 | $2,278 |
| 18 | $1,531 | $1,927 |
| 19 | $1,082 | $1,354 |
| 20 | $950 | $1,171 |
A brand-new 2023 Chevrolet Camaro in the base trim with standard options has an MSRP of $26,400. In three years, with an annual mileage of 12,000 miles, we estimate it will have a depreciated value of $18,295, which equals a total accumulated depreciation of $8,105. In comparison, a used 2020 Camaro has a current value of $21,720, which is $9,643.33 less than its inflation-adjusted original MSRP of $31,363.33. So, based on our estimate, a new Camaro would be the slightly better choice in terms of value retention, but buying the used vehicle allows you avoid the initial depreciation.
These figures don’t account for individual factors, however. For an estimate that more closely reflects your circumstances, we recommend using Kelley Blue Book’s My Car’s Value tool. If you’re in the market for a used vehicle, use our buying checklist to make sure you cover all your bases.
Methodology
We calculated our data using the base-level trim of every Camaro model year from 2001 to 2023. Using base-level trims as our reference point allows us to maintain some degree of consistency in our findings, as there are no upgrades or optional features to elevate price points and skew our figures. Also, the resale value figures we’ve presented don’t account for variables such as the COVID-era chip shortage, vehicle condition, and modes of sale, all of which may affect the amount of money your Camaro can fetch on the used market.
Keep in mind, there are large economic factors at play here too and the sale of new cars has caused shifts in the used market too. There is a stark difference in the cost of vehicles due to car manufacturers seeking higher profit margins after COVID as detailed by CNN and posted by CBS channel 58:
“… (T)he auto industry saw sky-high profits even as sales plummeted. Domestic manufacturers of cars and car parts saw a profit of $32 billion through the third quarter of 2022 (the latest data available) — their largest profit since 2016. Car dealerships also reported record-breaking profits through Q3, according to auto-retail advisers Haig Partners.
That’s because pandemic-era pent-up consumer demand remained strong as supply shifted, allowing automakers to increase their prices and their profit margins. Cars and trucks were sold nearly as soon as they hit dealership lots, and the average price paid for a vehicle in December soared to a near-record high of $46,382, according to J.D. Power.
Data from the Labor Department’s November Consumer Price Index shows American consumers are paying about 20% more for cars than they were in 2019.
The trend could continue into next year — research website Edmunds expects new-car sales to hit 14.8 million in 2023, a marginal increase from last year but well below pre-pandemic levels.
The auto industry has entered a new era: Less choice, higher prices and larger profit margins. So far it seems to be working for them.”
This shift by car companies to create higher profit margins by taking advantage of the heavily-reported-on chip shortage panic of COVID has had rebounding effects upon the value of used cars.
Be aware that newer years (the latest 3-4 model years) may be inflated in price because of this and depending on how big this problem is for the model you are considering – it may even be inflating the price of the older model years.
Frequently Asked Questions About Vehicle Depreciation
Do Chevrolet Camaros hold their value?
Chevrolet Camaros seem to hold their value well, particularly compared to other vehicle types. Many vehicles lose around 60% of their value in the first five years, but the Camaro retains more than 50% in the same time frame. We can’t say for certain why this is the case, but it may have to do with the aspirational appeal that Karl Bauer talks about.
But don’t forget that your Camaro may hold more or less value depending on an array of factors. Besides age, condition, and color, you should also think about where and how you sell your car. Some geographical markets may have a higher demand for Camaros than others, and selling your car in a private sale tends to yield more money than a dealer trade-in.
What are the best years of the Chevrolet Camaro to buy and which ones should I avoid?
We think the best years of the Chevrolet Camaro, at least in the 21st century, are the 2013-2015 and 2016-2021 model years. With these, you get solid reliability, good fuel economy, and low costs of ownership.
On the other hand, you may want to avoid the following model years because of their high maintenance costs, increased risk of engine problems, and other mechanical issues:
- 2001-2002
- 2010-2012
What's high mileage for a Chevrolet Camaro?
Given that the Camaro is a sports car, a class of vehicles that owners tend to push to the limits of power, it may not be capable of as much mileage as a sedan, SUV, or pickup truck. The average mileage for a Camaro, accounting for age, ranges from 75,000 miles to 125,000 miles. With that in mind, we’d say that anything above 100,000 miles is high.
How old of a Chevrolet Camaro should I buy to avoid most of the depreciation?
If your goal is to avoid as much depreciation as you can, then we recommend going for a Camaro from model years 2010-2013. Do be careful, however, as only the 2013 Camaro meets our recommendation criteria, while the 2010-2012 Camaros may present some problems.
References
(2023.) Chevrolet. Consumer Reports. Retrieved Nov. 2, 2023, from https://www.consumerreports.org/cars/chevrolet
(2021.) The Best and Worst Cars for Depreciation. Wane 15. Retrieved Nov. 2, 2023, from https://www.wane.com/news/the-best-and-worst-cars-for-depreciation
(2023.) The Best and Worst Car Colors for Resale Value. iSeeCars. Retrieved Nov. 2, 2023, from https://www.iseecars.com/car-color-study
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