When the long-awaited seventh-generation Nissan Z arrived in 2022, the market went into a frenzy. Supply was tight, and many buyers had run out of patience, scrambling to get a new Z. The situation prompted some dealers to treat those cars as limited-production exotics.
A few dealers introduced incredible market adjustments to see if buyers would pay through the nose for the new sports car. However, many shoppers walked off and decided to wait. It now appears that patience was justified, as the market has cooled considerably four years later. Valuations suggest that a two-year-old Z is now going for around $15,000 less than its average sticker price when new, while brand-new Zs are no longer consistently commanding the OEM sticker. The state of the market doesn’t suggest the Z has suddenly become a bad car, but it points to a more normalized market.
The $130,000 Nissan Z Window Sticker Aged Terribly
2024 Nissan Z red exterior front 3/4 in cityNissan
2024 Nissan Z Sport Specifications
Engine
3.0-liter VR30DDTT twin-turbo V6
Transmission
Six-speed manual or nine-speed automatic
Drivetrain
Rear-wheel drive
Power
400 hp
Torque
350 lb-ft
At launch, Nissan wanted to position its modern Z as an affordable Japanese performance car. The company gave it 400 hp, a standard six-speed manual, rear-wheel drive, and styling reminiscent of the original 240Z. Nissan also released a very limited Proto Spec version with bronze RAYS wheels, yellow brake calipers, special interior details, and a production run of 240 cars in the US.
The rarity prompted some eye-watering dealer activity, with one dealership in Washington adding a $73,881 market adjustment and a $1,195 protection package to a Proto Spec car in August 2022. All told, that resulted in a $129,991 figure that would more than double the car’s MSRP and certainly push that special Z into exotic pricing space. Other reports emerged showing adjustments across the country, often in the mid-five-figure range.
In this situation, buyers were clearly being asked to pay a hefty premium for the privilege of owning one of these cars, and the state of things wasn’t helped by the broader post-pandemic new-car market.
But it was still important for everyday buyers to look beyond the hype and understand that the regular Z was never going to be a one-year collectible. The Japanese company would keep building Z cars, which meant the launch frenzy would always tail off, followed by a resumption of normal service.
In Less Crazy Times, Patience Has A $15k Price Tag
2024 Nissan Z Heritage interior front shot of cabin and dashNissan
Normal supply did indeed resume, and by 2024, those crazy mark-ups were gone. Automotive data firm CarEdge uses an average new price of $56,222 for a 2024 Z in its depreciation model. When you look at the average valuation for a two-year-old example, the difference is clear. That two-year-old car should be around $41,000, representing a roughly $15,000 difference between the two.
Much will, of course, depend on the actual version of the car, with the Performance trim and, especially, the NISMO cars likely to be far more expensive. It may also be possible to find cars with lower resale or trade-in values, and every valuation depends on specification, condition, mileage, location, and transaction type. In any case, the underlying takeaway is clear, and the broad direction is unmistakable. Those eye-watering launch premiums have long since disappeared, and those who were patient can now reap their rewards.
The Z Didn’t Suddenly Become Less Special
2024 Nissan Z NismoNissan
Mechanically, the Nissan Z that’s now reaching the used market is still the same proposition that generated the original hype. After all, both the Z Sport and Performance use the 3.0-liter VR30DDTT twin-turbo V6, which produces 400 hp and 350 lb-ft of torque. Buyers could choose between a six-speed manual and a nine-speed automatic, with every version sending power to the rear wheels. Testers found that a manual Z would reach 60 mph in 4.5 seconds, while the automatic managed 4.3 seconds, with an estimated top speed of 155 mph.
The Sport grade is lighter and perhaps a simpler entry point than the Performance, but the latter has all the hardware that many enthusiasts still want. Those buyers can look forward to features like a mechanical limited-slip differential, larger brakes, 19-inch forged RAYS wheels, and rev-match shifting on manual cars.
The Z’s current pricing presents a stark contrast to that dealer-markup era. For example, a two-year-old Z now costs the same as a 2026 Toyota Camry XSE. Buyers can get a relatively new, 400-hp, twin-turbo coupe for the same price as a well-equipped mainstream sedan. Meanwhile, a new 2026 Toyota GR Supra 3.0 starts at $58,300, so a used Z undercuts it, too.
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The New Car Market Is Sending The Same Message
2027 Nissan Z RefreshNissan
In some cases, used-car depreciation can be a sign that brand-new examples are struggling to hold their sticker prices. A base 2026 Z starts at $44,265 including destination. However, one outlet shows an average transaction price of $43,763 over the last eight weeks. Certainly, that’s not a huge discount by any means, at around 1% or so, but it’s definitely symbolic compared to what happened in 2022. There’s no reason to pay a market adjustment at one showroom when another dealer would sell at MSRP or even a little less.
Sales volumes also help explain the depreciation angle. Nissan sold 3,164 examples of the Z in the US in 2024 and 5,487 in 2025. When more cars are on the road, it eventually means more trade-ins and more used choices. It’s also interesting to see that demand for new Z cars appears to have cooled down as well. Throughout the first half of 2026, Nissan reported only 1,705 sales of this car, down 55% from the same period in 2025.
All of this means there’s effective pressure on prices from both directions. Used sellers must compete with other used cars, while dealers will have to compete with discounts on their unsold stock. So, when all the dust settles, it seems that the Z is merely a sports car in a competitive market again.
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The Buyers Who Waited Now Have The Leverage
2024 Nissan Z Interior view of a Manual ShifterNissan
In the sports car world, depreciation can hurt anyone who buys at the wrong moment, but the payoff for those who paused in 2022 is that they now have far more choices. For a start, they could pursue a discounted new 2025 car, negotiate for a 2026 model, or search for a two-year-old car in which the first owner absorbed a significant portion of the depreciation.
The right answer may also depend on the trim, with a cheaper Sport version appealing to those who want the 400 hp engine and manual gearbox. The Performance Z is for those who would prefer a limited-slip differential, stronger brakes, and forged wheels as well. The situation would obviously depend on mileage, condition, accident history, service records, remaining warranty, transmission type, and equipment. Buyers should also look closely at the tires and brakes on this type of performance car.
Meanwhile, there may be additional market pressure ahead, as Nissan now has a refreshed 2027 Z (below). It has Sport and Performance models with a redesigned front bumper and grille, among other changes, and there’s also a new NISMO grade that now offers a manual. So, when these cars arrive in 2026, this will give dealers another reason to move old and new inventory and could give used buyers an extra bargaining point.
2027 Nissan ZNissan
The Nissan Z’s current depreciation levels show that the launch market was overinflated. There was limited supply at launch, and some dealers responded by marking up prices to match the perceived demand. It’s hard to believe that the same coupe that once generated a $130,000 price now sits in a market where two-year-old examples go for $41,000.
Enthusiasts who laughed at the idea of paying six figures for a Nissan, it’s payoff time. They can finally sample a Nissan Z at realistic money and enjoy its 400 hp, rear-wheel drive, and available manual transmission. As they don’t have to pay the artificial scarcity tax, they’re undoubtedly glad that the market has finally remembered what this Z was meant to cost.
Sources: Nissan, TrueCar, CarEdge.
