I shamelessly drive my '15 Z51 3LT 7 Speed whenever I can (weather permitting) and refuse to keep a garage queen. It's around 45K miles now. Fortunately, this pushrod, NA engine is so damn simple, it's fairly bullet proof. I'll probably sell mine around 65-70K miles for a good deal. Plenty of fun left for the next guy.
I still have my C6 2006, 3LT, Z51 Manual with only 33400 miles on it. Vararam (recently replaced with a new one) and BnB Bullet exhaust with the X pipe.
I went through a divorce I didn't want, came into some money and bought myself a new C6 (a 7 years ago) . I loved driving it all over North America. I put 80,000 miles on it in 2 years. An AR15 and a long range rifle in the truck where legal. Picked up lots of chicks with it (I have no guilt or shame) . I had many of the best times of my life in that car. I will get another one. The south will rise again.
I just bought a new 2019 base C7 stingray for $52,000. White with black rims-19” front, 20” back tires. It also has the performance exhaust. I studied the C8 and believe it is a engineering marvel but I have own every new C3-C6 and now C7 but the mid engine and short hood will have to grow on me. Maybe a C8 in 3 or 4 years. Great video.
Batchou SNELL A little over $64,000. My wife runs the dealership and I was able to get dealer hold-back and loyalty monies. $52,000 including taxes. Hope that helps.
I recently picked up a 2016 C7 Z06 7 speed with the 3LZ package, and just over 20k miles for about $55k, which I consider to be a great deal. I got the manual because I learned that 85% of C7s, especially the Z06, were automatics. With the C8 coming, and manual transmissions disappearing from the Corvette lineup, I figured now was a good time to snag a manual Z06 at a good price. I don't know if it will appreciate in value, but I plan to drive it anyway, so I'm not that worried about mileage. it's a place holder until I get my C8.
I totally agree with you I bought a manual 15 ZO6 and I hope it holds its value over an automatic. I’m saving up for a C8 too but I will wait for the Z06 to come out.
If C8 was just another C7 evolution, then these rules would apply, but C8 is such a leapfrog jump, that makes C7 way behind. Once you C8 running around the streets, in a few months, C7 prices will hit the bottom. You can probably buy a new C7 from dealer below invoice price.
Purchased my 5th Corvette last year, Shark Grey, Convertible with Z51, LT3 package, all the options . Used under 7,000 miles for $52k. No more real convertibles, gotta have a soft top for me. Two coupes, two convertibles, nothing like a drop top, on a Corvette. To me the C5 had the best lines, C4 was the cheapest, never buy the color red, or yellow again, didn’t like the white either, my blue was the favorite, but the Shark Grey, is growing on me. Maybe a new 2021 or 2022, better yet just add a Elderbrock Supercharger to the Z51 for $10k, and be happy evermore. I’ll own a Corvette till the day I die, owned them for over 30 years now. No one every makes a comment about my new pickup, but I always get accolades about the Vette. I’ve owned 3-Porsche, 2-Jaguar, 1-Mercedes, 1-BMW’s, 2-Camaro’s, and 2-Mustangs, plus Toyota’s etc... Corvettes are the safest road car, and the smoothest with the Magnetic Ride, best all around car I’ve ever owned. Just need to purchase tires regularly, and use a good radar detector. No other time have I ever got stopped at 97 and was asked to keep it below 80. Own a Corvette once in your life, you’ll always remember how it make you feel, nothing is quite the same. Chevrolet Corvette, longest continued production automobile in the world. Just my 2 cents, and it sure beats walking...
Great analysis. C7s have been purchased by younger buyers than previous generation Vettes. So if the tendency for younger buyers to go for new releases persists, then we could predict that the C8 might cause an increase in the supply of C7s (so I hope anyway). If that's the case, C7s are bound to become even better deals than they are now.
July 2019 bought a 2016 white on red 30k miles for $37.5 out the door ... 2LT / mag ride / non-performance exhaust .... added borlas and an x like and sounds 💪🏻
Your dreaming, unless you are going to get high miles no option base. Best case fall of 2020 you might get a good 2lt for $40k if you want one in the spring you'll pay another $4k and you can do that today, because it now fall and prices are the lowest this time of yr and the spring is the highest, so the prices now will be what they will be in the spring.
Me too. Looking for good deal on a C7 GS. Once the boomers start seeing the C8s on the street in the next 1-2 years, they’ll trade in the C7s hand over fist at low to mid at $20k to dealers. They’ll say they want to finally own the mid engine corvette they thought they’d never see before they die. Dealers will turn around and sell em at KBB for no haggle pricing for high 20s and low 30s. Probably with 30-60k miles. Get it in the 70s for low low 20s. Kids aren’t driving anymore let alone a manual sports car and then have a 2 car garage and driveway to park it in. Can’t afford it with all the student debt and massive rent and housing price increase in the past decade. No parking in the city in your apartment or townhouse or pay $400/mo for a space. (Ask me how I know). As for the boomer, when you’re in the twilight of your life you don’t think rationally, and the consequence of losing money on a trade in for the baddest corvette in existence with Ferrari looks and performance won’t matter anymore. All this adds up to a second wave of depreciation for the c7 and sports cars in general in the next decade. ICE based manual cars won’t be practical to daily drive, may even be outlawed, and will become the antiquated “old muscle cars” of the next generation aside from the rarest cream of the crop halo cars.
@@miked.7722 z51 2LT with 20k miles are 42-45k right now. Base stingray is 38-42. They won't be in the low 30's but the base 2014 1lt stingrays should hit below 35k next year.
Wow, you actually made graphs and logical analysis about my dream car`s depreciation. I`m so surprised that someone with such a talent and dedication exists on TH-cam. I can`t be any happier finding someone so smart giving us specific data. Man, I`m so amazed by how smart people could do these stuff. Anyways Corvettes are pretty slow at depreciating but it will definitely get cheaper as the time goes on. I`m hoping it will reach the C6 level of affordability. Actually, I wish everyone will start thinking that C7 is old, outdated and lame so that they will depreciate quickly since I`m not going to buy it as a status symbol.
True, the depreciation on the Corvettes is quite slow. In the video about the C8 i also included the depreciation curve for the C6, this might give you an idea how long you still need to wait. You can find the video over here:th-cam.com/video/9wE5f2UWLgQ/w-d-xo.html
NEW 2020 C8 MID-ENGINE CORVETTE QUALITY CONTROL ISSUES REPORTED IN THE DUEL-CLUTCH TRANSMISSION, EXTERIOR PANELING FITS, & STITCHING OF THE INTERIOR. C8's, like recent European high-performance sport cars, do NOT come with a manual transmission providing a greatly increased driving experienced fun & satisfaction, unfortunately. I'm very happy with my beautiful C7 Corvette Stingray w/ Z-51 package and manual transmission that is a "must have" for a sport car. It provides me w/ a very satisfying sound and impressive power for street/highway driving without being top-dog on the race track. And I will never attempt to drive even close to the roughly 185 MPH speed capability. When my high insurance is due, I'm sure I will still be very happy and just have to push the extra cost out of my mind, hahah. :)
Gave the thumbs up based on the research, organization and presentation. However there is one significant point on which we disagree - your conclusion that buying a car with higher miles is a bad deal. The relative flat mileage curve means that for drivers/buyers who really like to drive, buying the models with more than 40k miles will have depreciation per mile of essentially zero. It should be simple to pick from your analysis the point at which the per mile depreciation curve is appropriately shallow and jump in the pool right there. 35k to 50k miles? The other big question, which you appropriately left open, is what effect the huge paradigm shift this much anticipated move to mid-engined configuration will have on the front-engined predecessors. Will it make them dinosaurs or will C-6 and C-7 models become highly preferred and sought choices. So it is probably best to wait 2 years to see. The market will resist a precipitous drop in the first instance, as sellers will prefer keeping their cars to selling below what they think they are worth.
Thanks for the thumbs up. You make some good points. The idea of the fair purchasing price is to find a car which is a safe buy and offers relatively good value for money. Looking at it purely from a depreciation perspective you are absolutely right; these cars are not the cars which will depreciate the least. For that you would indeed need to go for a higher mileage car. This would be also a good idea if you plan to the drive it a lot. The disadvantage of the higher mileage cars is however that, especially for the ones which have only a moderately higher mileage, there is a lower mileage alternative available for almost the same price. I.e the mileage increase is not in proportion to the price decrease. When it comes to the C8, it is of course difficult to predict how it will impact the prices and i'm not sure any analytics would help there. Nevertheless, if you would be interesting in the possible depreciation path of the C8, you can check out the full C8 video: th-cam.com/video/9wE5f2UWLgQ/w-d-xo.html
Where are you pulling all this data from? I'm assuming you're using an API from a big website which provides loads of cars for sale. Either way, awesome video. I really want to know how you got this data though, or if you have a website where you can view similar data for any vehicles.
Thanks! I indeed use data from the most well known second hand car websites. As far as i'm aware, there is no ready made API available ;) . I do, however, sometimes make custom analyses for people. You can shoot me a message on insta (link in description) if you are interested in that.
Fourwheel Trader - Car depreciation analysis I’ve been thinking about putting together a machine learning program for the purpose of plotting out vehicle value based on miles and age. Awesome to see you do it!
Just bought a 2018 C7 3LT with the Z51 package and manual trans for $45,500. (it's red and has the performance seats). New price last year was just over $78k in this spec.
Thanks. Bought from a dealer who needed to clear stock and it passed a full PPI. Currently being shipped to my home in Auckland New Zealand. Rare to see one on this side of the world.
Love your videos, but I wish you would have compared the C7 average to the C6 average and even the C5. In my opinion, that would have given an indication of the likelihood of the pending depreciation over the next few years once the C8 has actually hit the market. Still, I love number crunching, and you sir, do a fantastic job at it. Very much appreciated. Cheers!
@@Monstar760 You might want to check out my video on the C8. There I'm using the depreciation curves of both the C7 and C6 to try and say something meaningful about the depreciation of the C8.
Couple of thoughts, are there regional pricing differences? Secondly, you appear to only have done the Base Stingray. I am a little surprised to see a base stingray in the 80K range. I am wondering if you might have some bad starting data. Finally, I would love if you did this for the Z06!
It's a good idea to include regional differences. Definitely something to work on. I was also a bit surprised about these price levels for base stingrays. There might be a few grandsports in the analyses since it is not always clearly stated that it concerns a grandsport version. Although, there are quite a few base stingrays listed over 80k. These are mainly cars with the Z51 package and in 3LT trim. For most of these, I suspect that the advertisements are outdated. I will add the Z06 to the list.
Great data but it follows a pretty standard pattern so not that surprising. I got my 14 Z51 3LT 7 speed over a year ago. 18k in mileage and $44k - right in the sweet spot of the market. My car stickered at $75k new! The thing to understand about ‘Vettes are most a garage queens so low mileage is actually the norm. Also with summer only tires these cars see no snow. Then with a composite body and aluminum subframe no worries with rust. Great GT car - it eats up the miles and tears up the track. The rear hatch is massive it holds more then your average sedan. Love mine 👍🏼
True, the data is not too surprising. Though i would say that they average depreciation is relatively low compared to some of the competitors. Enjoy your Vette, unfortunately we hardly see them here in Europe.
Actually low miles isn't the norm but definitely desired more with the VETTE than other vehicles which is why miles more than years typically is the baseline for depreciation. For example a 2014 with low miles (under 15,000) with cost you more than a 2016 and possibly 17 with say 40,000 or more miles on it. The Stingray looks the exact same from 2014- and up.
You have similar accent to my dad; we’re from Finland 🇫🇮, but I was raised in the USA. You look Swedish, so some similarity in language if that’s the case. Anyhow, good video - easy to follow.
$60k Corvette C8 is a supercar. A C8 at $60k is relatively cheap enough that I'm keeping my C7 manual transmission for 3 pedal engagement fun when I get a C8. Unlike other cars that I've owned in that I normally tradein to lower the cost of the new car. Wow, the interior seat colors, dash colors, door colors, drive mode switch colors, seat belt colors. World's 1st car with a GPS lift.
@@tasiahoustoulakis3963 Tesla is not a car, it's a smartphone on wheels, and not even a good one otherwise it would have been an iPhone on wheels with Apple Carplay. You've got a very pretty face.
In Hoovie's depreciation video someone in the comment section was saying the C8 would depreciate used ferraris..What do you think? I thought they are cars with 2 totally different demographics, and ferrari owners on avg are not cost conscious at all. Also most ferraris are international to the USA. Does the international supply of these collectable type cars affect local (i.e. USA for example) market prices?
I don't have any data to back this up, but in my opinion, the C8 won't affect the depreciation of used Ferraris. As amazing as the C8 is in terms of performance for money, it doesn't come with the image, status, and desirability of a Ferrari. The cars serve different purposes. You can easily daily the new C8 whereas I don't think many people would daily a 360. I'm not familiar with the number of internationally sourced Ferraris to the US market, so I would need to have a look at the numbers before I could say anything about the specific situation. In general, however, the larger the supply the lower the market prices. See for example the depreciation on the R8V10+'s and Mclaren's for which there is no production limit. With respect to international supplies, it depends to a large extent on the degree to which internationally sourced cars are seen as offering equal quality as cars sold in the US.
Great analysis. However he is taking MSRP values. For instance stores like Kerbeck, King Criswell offer huge discounts on brand new models. It's not unusual to get an 2019 LT1 Automatic with an MSRP of $55k for $46k. So the depreciation algorithm model should start at the actual discounted price not MSRP. If depreciation is approx $3200 per year the value for an LT1 auto in 2022 is approx $37k which is also the algorithm value for a 2016. Then there is supply. There are still over 6,000 unsold brand new sitting on lots C7, add the trades coming in for the C8 and there is a tsunami of inventory which will not only drive the C7 values down but C6 and C5. My projection is that by Feb2020 a 2016 LT1 will be at $32.5 and 2017 at $37k. As always in Capitalist driven supply and demand market the faster GM and Chevrolet pump out the C8 the quicker the value drop on the C6 and C5
It is difficult to account for discounts on top of the advertised prices because the height of the discount can vary quite a bit. In an ideal world though, doing the same analysis with the actual selling prices would give more accurate results. Unfortunately, it is not possible to get that data. Having said that, discounts on C7 increased a lot since the release of this video and part of those discounts might be reflected in the advertised prices. Hence, time for an update :)
*i just bought my 2014 procharge C7 Stingray 3LT manual with 31K miles for $42K out the door price about 3 month ago. that car was heavily modified with aftermarket carbon fiber and stuff including the pro charger so i just got myself a steal with $41k out the door price. Found out i got one of the rare Night Race Blue color with only about 890 coupe of those color where made before the color was discontinued. Glad i didn't bought the GTR over the C7. Just be warned, if you are planning to finance your new/used C7, better put at least $10k+ or more down payment on it and the insurance will be just as much. you will be looking at around $1.2k to $2k for 6 month for a C7 alone if you dont have any other way to help lower your insurance. Your C7 car payment + insurance will be about $1K per month. Maybe more or maybe less depend on your down payment on the car and insurance but expect $1k per month in total.*
@@DivadNoodeldehm-lz2gm 30 years old. im with Geico. still deciding if i should change to progressive or something cheaper. the Corvette is my daily drive so i only have one car insure.
@@Tewthpaste I'm 38 and have 2 as my DD's. They're with USAA and are combined with homeowners. The homeowners gives big discounts on auto btw. Geographic location may have something to do with it too....
There indeed is usually a gap formed when the new model comes out. Here you can see the gap between the C6 and C7: th-cam.com/video/9wE5f2UWLgQ/w-d-xo.html
Thoroughly enjoyed your talk and data presentation. I am pleased to report I with my MBA from Hopkins instinctively followed your guidance. I sold my 2007 Z06 w/25,000 miles for $35k and bought a 2014 Z51 Auto with 5,000 miles for $45,000. And I am thrilled with the car and my choice. Great lecture, Dennis
Low mileage leaves a cost effective option for extended warranty. That could factored in to. A 5 year old car, 5,000 miles, Chevy Hot Rod warranty to 40,000 miles, zero deductible, bumper to bumper was cheap to me. $1,800. Made the whole deal worry free.
Correct me if I’m wrong, 4 years from now, I could expect a 2016 C7 stingray 1LT 7 speed manual with currently 30k miles to depreciate $ 3,207 per year or a total of approx $12,828 ? I’m looking at 2016 1LT with 30k miles Listed for $36k on the web at Corvetteworld.com in Texas. So In 4 years that would be approx selling for $23k ? Please confirm/comment , thanks !
Great video man! Would love to see an update of this! If you were to guess what would you say a 60-65k c8 market value would be? Do you think they will hit under 50k in that time frame as production is really ramped up and some dealers begin to have size able inventory? I am currently saving for a used one in the future when there are no crazy markups.
@@fourwheeltrader thank you! That video was really helpful. You do some really great work! Do you plan on updating this into next year again to include the c8 in the chart also?
uhh i think his data is round of my local dealers are amazing. theres a 2018 3lt grand sport with 10k miles for 56k msrp and a 2017 z06 3zt for 58k msrp and 12k miles near me.. I predict unless the C8 flops by the first few delivery and owner review videos come out the price for c7s will take another 10% hit.
Love the C7. Absolutely stunning car. I wonder how much this applies to the UK market assuming you can find one. I can see 2 currently. Have you ever done one on the UK market for MX-5 mk4s or mk3s?
It is indeed difficult to say something about the UK market for the C7 because there are so few cars for sale. Next week's video will be based on the UK market but not for the MX5 unfortunately. Though, I thought you mentioned you would be interested in an analysis of the Boxster?
This indeed only shows the stingrays, you can find the video for the Z06 over here: th-cam.com/video/e538zlio2RA/w-d-xo.html . The one for the C8 you can find over here: th-cam.com/video/9wE5f2UWLgQ/w-d-xo.html
Is the C7 really going to depreciate any more than normal because of the C8? Some people will still want the manual trans and even the front engine. I know I don't want to lose my manual, even if the C8 is "better".
I think that looking to the full curve of the C6 and C7 gives a pretty good impression of how the C7 values will develop. You can see that curve in this video: th-cam.com/video/9wE5f2UWLgQ/w-d-xo.html
I’m 6’ even and fit even with a helmet. My brother is 6’4 and he doesn’t. My knees will occasionally brush the bottom of the steering column. I have to telescope the wheel all the back. You can raise and lower the seat plus change the angle bottom. I had to mess with the adjustment a lot to get it perfect. The C8 has more leg room per GM.
The prices have come down quite a bit over the last year, and will probably come down more now that they are producing the 2020 C8s again, and as more C8s hit the streets.
Wait all you want. While you wait I am enjoying my 2019 manual grand sport. Waiting for the price to drop is like waiting for the next generation cellphone because it will have better features. At the end of the day, you'll wait forever.
I have 2016 C7 Z06 3LZ with Navigation and PDR, competition seats...etc. pretty much everything but Z07 package. 22k miles, custom red/black interior. For $59 900 if anyone is looking for one.
I plan on getting a C7 Stingray 1LT 7 speed manual in about 4 years ... non Z51 package. Hopefully in 4 years a great condition low mileage (under 50k) will be about $25k. Now (MAy 2020) they’re selling for about 33-36k for a low mileage one.
I own a C7 Z06 7spd and I absolutely love the car it’s insanely fast and looks awesome. I’m hoping that because it’s a rare manual it will hold its value a little better.
@Pos dem you could be right, I love vettes, especially the c3 shape and except for the severely neutered model years the performance for the money, even if they level out, is second to none.
I won't buy a c67 any more, I got my heart set on a 2020 , I don't think any body would buy a 2019 c7 for the same amount off money that a c7 cost now when you can buy a 2020 for the same amount of money u can buy a c7 I would go for a 2020,
C7 values on the second hand market are going to absolutely tank as soon as the C8 comes out. They drop by an average of 10k every time a new Corvette model is released. I'm really wondering how you came up with only losing a few hundred dollars. Maybe you're not in the US? Cause if you've ever watched the Corvette market the values absolutely go to shit when a new model is released. You buy a C7 for 42k now and you'll lose your ass. Just wait.
You can see in the video how i come up with those numbers ;) . On a more serious note, in the video for which i will put the link below, i included also the prices of the C6. By looking to the combination of the models you can get an idea of the impact of a new model on prices and the longer term depreciation. th-cam.com/video/9wE5f2UWLgQ/w-d-xo.html
This guy doesn't have a clue. Knowone who wants a c8 will even think about a c7 and knowing who buys a newer nice Corvette cares about depreciation they get what they want and can afford it
The Design is smooth not as busy or edgy as the other two, also the C6 rear is perfect. (like my wife ha), comfortable the other two are cramped. The interior design is better also everthing is open (radio, ac etc) while the C7 everything faces the driver with a useless grab bar for most drivers. Ive driven all (own multilple vettes) except the C8 yet a few people i know have sat in them. (cramped if over 6 ft is what im told)
U can pick up a new 19 for around $15k off sticker from the big reputable dealers. I personally don’t like the ugly C7 rear, cylinder deactivation & the problematic 8spd auto. Those buying a used with an 8spd auto better do ur homework.. Early Z06s had overheating issues. C6 is the last newer Vette I’d ever own.
If you buy a car and your concern is depreciation than you can't afford the car. If you can't pay for it cash at least 2x comfortably, you can't afford. Your economic education has been taught to you by those who want to keep you in debt because that's how they stay wealthy. Notice I said "wealthy" and not rich..... there's a difference.
I shamelessly drive my '15 Z51 3LT 7 Speed whenever I can (weather permitting) and refuse to keep a garage queen. It's around 45K miles now.
Fortunately, this pushrod, NA engine is so damn simple, it's fairly bullet proof. I'll probably sell mine around 65-70K miles for a good deal. Plenty of fun left for the next guy.
Good for you I did the opposite and now regret it. My C8 will not be a garage queen like my C7 was
I still have my C6 2006, 3LT, Z51 Manual with only 33400 miles on it. Vararam (recently replaced with a new one) and BnB Bullet exhaust with the X pipe.
C7Z06 is my dream.
I went through a divorce I didn't want, came into some money and bought myself a new C6 (a 7 years ago) . I loved driving it all over North America. I put 80,000 miles on it in 2 years. An AR15 and a long range rifle in the truck where legal. Picked up lots of chicks with it (I have no guilt or shame) . I had many of the best times of my life in that car. I will get another one. The south will rise again.
@@qwertyui859 I can't like this enough
32k miles
C7 2016 3LT z51 package
43k
White black rims red calipers red seats black spoiler might get.
I just bought a new 2019 base C7 stingray for $52,000. White with black rims-19” front, 20” back tires. It also has the performance exhaust. I studied the C8 and believe it is a engineering marvel but I have own every new C3-C6 and now C7 but the mid engine and short hood will have to grow on me. Maybe a C8 in 3 or 4 years. Great video.
Congrats with the new car!
Congrats! What was the MSRP?
Batchou SNELL A little over $64,000. My wife runs the dealership and I was able to get dealer hold-back and loyalty monies. $52,000 including taxes. Hope that helps.
Such a good deal! I hope it’s manual.
adriano wallin I hope it’s not, that manual nonsense is overrated and not needed. I’m glad the c8 is only automatic
I recently picked up a 2016 C7 Z06 7 speed with the 3LZ package, and just over 20k miles for about $55k, which I consider to be a great deal. I got the manual because I learned that 85% of C7s, especially the Z06, were automatics. With the C8 coming, and manual transmissions disappearing from the Corvette lineup, I figured now was a good time to snag a manual Z06 at a good price. I don't know if it will appreciate in value, but I plan to drive it anyway, so I'm not that worried about mileage. it's a place holder until I get my C8.
You did get a great deal depending on how it's been driven. Congrats
I totally agree with you I bought a manual 15 ZO6 and I hope it holds its value over an automatic. I’m saving up for a C8 too but I will wait for the Z06 to come out.
I plan on getting a c7 within the next few years hopefully I’ll find one for a fair price and not too many miles on it
This channel is such a good idea, keep pumping out these videos!
Thanks. There will be a new video every saturday ;)
If C8 was just another C7 evolution, then these rules would apply, but C8 is such a leapfrog jump, that makes C7 way behind. Once you C8 running around the streets, in a few months, C7 prices will hit the bottom. You can probably buy a new C7 from dealer below invoice price.
True, i heard that the discounts on the C7 are huge.
Purchased my 5th Corvette last year, Shark Grey, Convertible with Z51, LT3 package, all the options . Used under 7,000 miles for $52k. No more real convertibles, gotta have a soft top for me. Two coupes, two convertibles, nothing like a drop top, on a Corvette. To me the C5 had the best lines, C4 was the cheapest, never buy the color red, or yellow again, didn’t like the white either, my blue was the favorite, but the Shark Grey, is growing on me. Maybe a new 2021 or 2022, better yet just add a Elderbrock Supercharger to the Z51 for $10k, and be happy evermore. I’ll own a Corvette till the day I die, owned them for over 30 years now. No one every makes a comment about my new pickup, but I always get accolades about the Vette. I’ve owned 3-Porsche, 2-Jaguar, 1-Mercedes, 1-BMW’s, 2-Camaro’s, and 2-Mustangs, plus Toyota’s etc... Corvettes are the safest road car, and the smoothest with the Magnetic Ride, best all around car I’ve ever owned. Just need to purchase tires regularly, and use a good radar detector.
No other time have I ever got stopped at 97 and was asked to keep it below 80.
Own a Corvette once in your life, you’ll always remember how it make you feel, nothing is quite the same.
Chevrolet Corvette, longest continued production automobile in the world. Just my 2 cents, and it sure beats walking...
Thanks for sharing your story
Great analysis. C7s have been purchased by younger buyers than previous generation Vettes. So if the tendency for younger buyers to go for new releases persists, then we could predict that the C8 might cause an increase in the supply of C7s (so I hope anyway). If that's the case, C7s are bound to become even better deals than they are now.
What did you use to scrape this data?
July 2019 bought a 2016 white on red 30k miles for $37.5 out the door ... 2LT / mag ride / non-performance exhaust .... added borlas and an x like and sounds 💪🏻
Congrats on the car.
I will buy my c7 in the low 30k range when c8 sales start!!
Iron John brand new?
used under 30k miles
Your dreaming, unless you are going to get high miles no option base. Best case fall of 2020 you might get a good 2lt for $40k if you want one in the spring you'll pay another $4k and you can do that today, because it now fall and prices are the lowest this time of yr and the spring is the highest, so the prices now will be what they will be in the spring.
Me too. Looking for good deal on a C7 GS. Once the boomers start seeing the C8s on the street in the next 1-2 years, they’ll trade in the C7s hand over fist at low to mid at $20k to dealers. They’ll say they want to finally own the mid engine corvette they thought they’d never see before they die. Dealers will turn around and sell em at KBB for no haggle pricing for high 20s and low 30s. Probably with 30-60k miles. Get it in the 70s for low low 20s. Kids aren’t driving anymore let alone a manual sports car and then have a 2 car garage and driveway to park it in. Can’t afford it with all the student debt and massive rent and housing price increase in the past decade. No parking in the city in your apartment or townhouse or pay $400/mo for a space. (Ask me how I know). As for the boomer, when you’re in the twilight of your life you don’t think rationally, and the consequence of losing money on a trade in for the baddest corvette in existence with Ferrari looks and performance won’t matter anymore. All this adds up to a second wave of depreciation for the c7 and sports cars in general in the next decade. ICE based manual cars won’t be practical to daily drive, may even be outlawed, and will become the antiquated “old muscle cars” of the next generation aside from the rarest cream of the crop halo cars.
@@miked.7722 z51 2LT with 20k miles are 42-45k right now. Base stingray is 38-42. They won't be in the low 30's but the base 2014 1lt stingrays should hit below 35k next year.
Just bought a 2014 with 19k miles. Glad this video shows I should do ok, depreciation wise!
Wow, you actually made graphs and logical analysis about my dream car`s depreciation. I`m so surprised that someone with such a talent and dedication exists on TH-cam. I can`t be any happier finding someone so smart giving us specific data. Man, I`m so amazed by how smart people could do these stuff.
Anyways Corvettes are pretty slow at depreciating but it will definitely get cheaper as the time goes on. I`m hoping it will reach the C6 level of affordability. Actually, I wish everyone will start thinking that C7 is old, outdated and lame so that they will depreciate quickly since I`m not going to buy it as a status symbol.
True, the depreciation on the Corvettes is quite slow. In the video about the C8 i also included the depreciation curve for the C6, this might give you an idea how long you still need to wait. You can find the video over here:th-cam.com/video/9wE5f2UWLgQ/w-d-xo.html
NEW 2020 C8 MID-ENGINE CORVETTE QUALITY CONTROL ISSUES REPORTED IN THE DUEL-CLUTCH TRANSMISSION, EXTERIOR PANELING FITS, & STITCHING OF THE INTERIOR. C8's, like recent European high-performance sport cars, do NOT come with a manual transmission providing a greatly increased driving experienced fun & satisfaction, unfortunately. I'm very happy with my beautiful C7 Corvette Stingray w/ Z-51 package and manual transmission that is a "must have" for a sport car. It provides me w/ a very satisfying sound and impressive power for street/highway driving without being top-dog on the race track. And I will never attempt to drive even close to the roughly 185 MPH speed capability. When my high insurance is due, I'm sure I will still be very happy and just have to push the extra cost out of my mind, hahah. :)
Gave the thumbs up based on the research, organization and presentation. However there is one significant point on which we disagree - your conclusion that buying a car with higher miles is a bad deal. The relative flat mileage curve means that for drivers/buyers who really like to drive, buying the models with more than 40k miles will have depreciation per mile of essentially zero. It should be simple to pick from your analysis the point at which the per mile depreciation curve is appropriately shallow and jump in the pool right there. 35k to 50k miles?
The other big question, which you appropriately left open, is what effect the huge paradigm shift this much anticipated move to mid-engined configuration will have on the front-engined predecessors. Will it make them dinosaurs or will C-6 and C-7 models become highly preferred and sought choices. So it is probably best to wait 2 years to see. The market will resist a precipitous drop in the first instance, as sellers will prefer keeping their cars to selling below what they think they are worth.
Thanks for the thumbs up. You make some good points. The idea of the fair purchasing price is to find a car which is a safe buy and offers relatively good value for money. Looking at it purely from a depreciation perspective you are absolutely right; these cars are not the cars which will depreciate the least. For that you would indeed need to go for a higher mileage car. This would be also a good idea if you plan to the drive it a lot. The disadvantage of the higher mileage cars is however that, especially for the ones which have only a moderately higher mileage, there is a lower mileage alternative available for almost the same price. I.e the mileage increase is not in proportion to the price decrease.
When it comes to the C8, it is of course difficult to predict how it will impact the prices and i'm not sure any analytics would help there. Nevertheless, if you would be interesting in the possible depreciation path of the C8, you can check out the full C8 video: th-cam.com/video/9wE5f2UWLgQ/w-d-xo.html
Where are you pulling all this data from? I'm assuming you're using an API from a big website which provides loads of cars for sale. Either way, awesome video. I really want to know how you got this data though, or if you have a website where you can view similar data for any vehicles.
Thanks! I indeed use data from the most well known second hand car websites. As far as i'm aware, there is no ready made API available ;) . I do, however, sometimes make custom analyses for people. You can shoot me a message on insta (link in description) if you are interested in that.
Fourwheel Trader - Car depreciation analysis I’ve been thinking about putting together a machine learning program for the purpose of plotting out vehicle value based on miles and age. Awesome to see you do it!
Right now, Mid November one can find MANY 1LT 2019 C7's at $50K or a bit below. Look at Kerbeck in NJ, Mac Maulkiin, etc. The big volume dealers
Sounds like it is time to make an update video
Just bought a 2018 C7 3LT with the Z51 package and manual trans for $45,500.
(it's red and has the performance seats).
New price last year was just over $78k in this spec.
Congratulations. That's an amazing car you got yourself.
Thanks. Bought from a dealer who needed to clear stock and it passed a full PPI. Currently being shipped to my home in Auckland New Zealand. Rare to see one on this side of the world.
Great price but whats the mileage
Did anyone else notice the interesting editing at 3:54?
That is a rendering glitch :)
Love your videos, but I wish you would have compared the C7 average to the C6 average and even the C5. In my opinion, that would have given an indication of the likelihood of the pending depreciation over the next few years once the C8 has actually hit the market. Still, I love number crunching, and you sir, do a fantastic job at it. Very much appreciated. Cheers!
Thanks. Your suggestion sounds like a good idea for a next video ;)
@@fourwheeltrader i would be interested in this. I'm considering a c5, c6 and MAYBE a c7 as a carryover until the c8 used market appears.
@@Monstar760 You might want to check out my video on the C8. There I'm using the depreciation curves of both the C7 and C6 to try and say something meaningful about the depreciation of the C8.
NADA can provide even more information than an algorithm...
Couple of thoughts, are there regional pricing differences? Secondly, you appear to only have done the Base Stingray. I am a little surprised to see a base stingray in the 80K range. I am wondering if you might have some bad starting data. Finally, I would love if you did this for the Z06!
It's a good idea to include regional differences. Definitely something to work on. I was also a bit surprised about these price levels for base stingrays. There might be a few grandsports in the analyses since it is not always clearly stated that it concerns a grandsport version. Although, there are quite a few base stingrays listed over 80k. These are mainly cars with the Z51 package and in 3LT trim. For most of these, I suspect that the advertisements are outdated. I will add the Z06 to the list.
Great data but it follows a pretty standard pattern so not that surprising. I got my 14 Z51 3LT 7 speed over a year ago. 18k in mileage and $44k - right in the sweet spot of the market. My car stickered at $75k new! The thing to understand about ‘Vettes are most a garage queens so low mileage is actually the norm. Also with summer only tires these cars see no snow. Then with a composite body and aluminum subframe no worries with rust. Great GT car - it eats up the miles and tears up the track. The rear hatch is massive it holds more then your average sedan. Love mine 👍🏼
True, the data is not too surprising. Though i would say that they average depreciation is relatively low compared to some of the competitors. Enjoy your Vette, unfortunately we hardly see them here in Europe.
Actually low miles isn't the norm but definitely desired more with the VETTE than other vehicles which is why miles more than years typically is the baseline for depreciation. For example a 2014 with low miles (under 15,000) with cost you more than a 2016 and possibly 17 with say 40,000 or more miles on it. The Stingray looks the exact same from 2014- and up.
You have similar accent to my dad; we’re from Finland 🇫🇮, but I was raised in the USA. You look Swedish, so some similarity in language if that’s the case. Anyhow, good video - easy to follow.
Thanks! I'm Dutch but I live in Finland.
*What's your opinion on the new Corvette C8? Did Chevrolet make a mistake by moving the engine to the middle?*
$60k Corvette C8 is a supercar. A C8 at $60k is relatively cheap
enough that I'm keeping my C7 manual transmission for 3 pedal engagement
fun when I get a C8. Unlike other cars that I've owned in that I normally tradein to lower the cost of
the new car. Wow, the interior seat colors, dash colors, door colors, drive mode switch colors, seat belt
colors. World's 1st car with a GPS lift.
I'm also a fan of the C8. The value for money is just amazing. I would probably be in the market for one if i would be living in the US.
It's not world's first. Tesla has done it a few years ago on their model s. But the c8 is a very nice looking car.
@@tasiahoustoulakis3963 Tesla is not a car, it's a smartphone on wheels, and not even a good one otherwise it would have been an iPhone on wheels with Apple Carplay.
You've got a very pretty face.
In Hoovie's depreciation video someone in the comment section was saying the C8 would depreciate used ferraris..What do you think? I thought they are cars with 2 totally different demographics, and ferrari owners on avg are not cost conscious at all.
Also most ferraris are international to the USA. Does the international supply of these collectable type cars affect local (i.e. USA for example) market prices?
I don't have any data to back this up, but in my opinion, the C8 won't affect the depreciation of used Ferraris. As amazing as the C8 is in terms of performance for money, it doesn't come with the image, status, and desirability of a Ferrari. The cars serve different purposes. You can easily daily the new C8 whereas I don't think many people would daily a 360.
I'm not familiar with the number of internationally sourced Ferraris to the US market, so I would need to have a look at the numbers before I could say anything about the specific situation. In general, however, the larger the supply the lower the market prices. See for example the depreciation on the R8V10+'s and Mclaren's for which there is no production limit. With respect to international supplies, it depends to a large extent on the degree to which internationally sourced cars are seen as offering equal quality as cars sold in the US.
Or you could just look for a car that has 80k+ miles and get it cheap af. Those engines don’t start having problems till 300k+ miles
That's also a way to go :)
Great analysis. However he is taking MSRP values. For instance stores like Kerbeck, King Criswell offer huge discounts on brand new models. It's not unusual to get an 2019 LT1 Automatic with an MSRP of $55k for $46k. So the depreciation algorithm model should start at the actual discounted price not MSRP. If depreciation is approx $3200 per year the value for an LT1 auto in 2022 is approx $37k which is also the algorithm value for a 2016. Then there is supply. There are still over 6,000 unsold brand new sitting on lots C7, add the trades coming in for the C8 and there is a tsunami of inventory which will not only drive the C7 values down but C6 and C5. My projection is that by Feb2020 a 2016 LT1 will be at $32.5 and 2017 at $37k.
As always in Capitalist driven supply and demand market the faster GM and Chevrolet pump out the C8 the quicker the value drop on the C6 and C5
It is difficult to account for discounts on top of the advertised prices because the height of the discount can vary quite a bit. In an ideal world though, doing the same analysis with the actual selling prices would give more accurate results. Unfortunately, it is not possible to get that data. Having said that, discounts on C7 increased a lot since the release of this video and part of those discounts might be reflected in the advertised prices. Hence, time for an update :)
*i just bought my 2014 procharge C7 Stingray 3LT manual with 31K miles for $42K out the door price about 3 month ago. that car was heavily modified with aftermarket carbon fiber and stuff including the pro charger so i just got myself a steal with $41k out the door price. Found out i got one of the rare Night Race Blue color with only about 890 coupe of those color where made before the color was discontinued. Glad i didn't bought the GTR over the C7. Just be warned, if you are planning to finance your new/used C7, better put at least $10k+ or more down payment on it and the insurance will be just as much. you will be looking at around $1.2k to $2k for 6 month for a C7 alone if you dont have any other way to help lower your insurance. Your C7 car payment + insurance will be about $1K per month. Maybe more or maybe less depend on your down payment on the car and insurance but expect $1k per month in total.*
Er, where are you and how old are you? I have a Z06 and Z51 insured and both put together are less than 2K per year.
@@DivadNoodeldehm-lz2gm 30 years old. im with Geico. still deciding if i should change to progressive or something cheaper. the Corvette is my daily drive so i only have one car insure.
@@Tewthpaste I'm 38 and have 2 as my DD's. They're with USAA and are combined with homeowners. The homeowners gives big discounts on auto btw. Geographic location may have something to do with it too....
Wish you would have included the Z06...
There is a seperate video on my channel which covers the z06 ;)
@@fourwheeltraderI saw that and thanx.
How did you do this analysis?
I do all my analyses in Python.
C7 will drop like a rock after the c8 has been out a year
There indeed is usually a gap formed when the new model comes out. Here you can see the gap between the C6 and C7: th-cam.com/video/9wE5f2UWLgQ/w-d-xo.html
Helpful analysis. Thanks.
Thoroughly enjoyed your talk and data presentation. I am pleased to report I with my MBA from Hopkins instinctively followed your guidance. I sold my 2007 Z06 w/25,000 miles for $35k and bought a 2014 Z51 Auto with 5,000 miles for $45,000. And I am thrilled with the car and my choice. Great lecture, Dennis
That is great to hear Dennis. Enjoy the car.
Low mileage leaves a cost effective option for extended warranty. That could factored in to. A 5 year old car, 5,000 miles, Chevy Hot Rod warranty to 40,000 miles, zero deductible, bumper to bumper was cheap to me. $1,800. Made the whole deal worry free.
@@DennisMurphey That's a good point. Especially for the supercars a (soon to be) expired factory warranty has a significant effect on the price.
Please do an analysis on the Dacia Sandero.
Original suggestion! First time a Dacia comes up.
Correct me if I’m wrong, 4 years from now, I could expect a 2016 C7 stingray 1LT 7 speed manual with currently 30k miles to depreciate $ 3,207 per year or a total of approx $12,828 ?
I’m looking at 2016 1LT with 30k miles Listed for $36k on the web at Corvetteworld.com in Texas. So In 4 years that would be approx selling for $23k ?
Please confirm/comment , thanks !
Great video man! Would love to see an update of this! If you were to guess what would you say a 60-65k c8 market value would be? Do you think they will hit under 50k in that time frame as production is really ramped up and some dealers begin to have size able inventory? I am currently saving for a used one in the future when there are no crazy markups.
Check out this video: th-cam.com/video/PWjKCcw0HiU/w-d-xo.html
@@fourwheeltrader thank you! That video was really helpful. You do some really great work! Do you plan on updating this into next year again to include the c8 in the chart also?
Definitely. I will probably update this before the end of the year.
@@fourwheeltrader awesome look forward to it!
uhh i think his data is round of my local dealers are amazing. theres a 2018 3lt grand sport with 10k miles for 56k msrp and a 2017 z06 3zt for 58k msrp and 12k miles near me.. I predict unless the C8 flops by the first few delivery and owner review videos come out the price for c7s will take another 10% hit.
Interested in discussing some potential business ventures?
Sure, please send me a message at fourwheeltrader@gmail.com
Love the C7. Absolutely stunning car. I wonder how much this applies to the UK market assuming you can find one. I can see 2 currently. Have you ever done one on the UK market for MX-5 mk4s or mk3s?
It is indeed difficult to say something about the UK market for the C7 because there are so few cars for sale. Next week's video will be based on the UK market but not for the MX5 unfortunately. Though, I thought you mentioned you would be interested in an analysis of the Boxster?
@@fourwheeltrader Yes that's right, the Boxster and MX-5 are top of my shopping list at the moment.
Not to sound ignorant but it’s really that rare to see American cars there in the UK? Vettes / mustangs / chargers ?
Saving up for the C8
Is this just a breakdown of the stingrays? There was no breakdown between the Stingray, Z06, and ZR1
This indeed only shows the stingrays, you can find the video for the Z06 over here: th-cam.com/video/e538zlio2RA/w-d-xo.html . The one for the C8 you can find over here: th-cam.com/video/9wE5f2UWLgQ/w-d-xo.html
Oh ok. Thanks for the clarification
Is the C7 really going to depreciate any more than normal because of the C8? Some people will still want the manual trans and even the front engine. I know I don't want to lose my manual, even if the C8 is "better".
I think that looking to the full curve of the C6 and C7 gives a pretty good impression of how the C7 values will develop. You can see that curve in this video: th-cam.com/video/9wE5f2UWLgQ/w-d-xo.html
I just bought a 2014 Z51 7 speed with 11k miles on it for 42k.
Congrats on your new car!
Nice metrics, but the new values may cause a revisit
I fully agree, prices dropped significantly. Good input for a new video.
If you do a new one, add top three best C7 deals (2014-2019) according to the metrics. Would love to see that, as I am in buy mode 😂... I subscribed
Ill be buying a c6 z06 6speed
Got 1 myself, still think its best looking corvette. C6 Z06 only comes with 6sp. If you still want 1 ill sell mine
I loved my 2008 Z06, best Vette I have owned.
Prices seem to have escalated a little bit over the past year. Plus miles seem to drive price more than years with the C7.
This is a more recent analysis th-cam.com/video/PWjKCcw0HiU/w-d-xo.html
Am I the only one who cannot fit in a C7 Corvette properly? I am only 6 ft 1 in tall. I need about 2 to 3 more inches of legroom.
I’m 6’ even and fit even with a helmet. My brother is 6’4 and he doesn’t. My knees will occasionally brush the bottom of the steering column. I have to telescope the wheel all the back. You can raise and lower the seat plus change the angle bottom. I had to mess with the adjustment a lot to get it perfect. The C8 has more leg room per GM.
What's the source of the data?
Off subject, but please tell me where I can buy these glasses
They are from 'Modo'.
My plan is to wait for the c8 to come out and hope for insane discounts on an unsold c7. Is this stupid? What do y’all think?
Bilderburger You can already get insane discounts. 20k off msrp on some models.
Smart
Hellcat / Hellcat analysis between two door and four door. (Charger v Challenger might be interesting).
The prices have come down quite a bit over the last year, and will probably come down more now that they are producing the 2020 C8s again, and as more C8s hit the streets.
Yeah i should make an update video about the c7 market
Wait all you want. While you wait I am enjoying my 2019 manual grand sport. Waiting for the price to drop is like waiting for the next generation cellphone because it will have better features. At the end of the day, you'll wait forever.
But does the Vette help you get chicks?
Scott Blackwell Well it does better than a Prius.
I have 2016 C7 Z06 3LZ with Navigation and PDR, competition seats...etc. pretty much everything but Z07 package. 22k miles, custom red/black interior. For $59 900 if anyone is looking for one.
I plan on getting a C7 Stingray 1LT 7 speed manual in about 4 years ... non Z51 package. Hopefully in 4 years a great condition low mileage (under 50k) will be about $25k. Now (MAy 2020) they’re selling for about 33-36k for a low mileage one.
You may be absolutely correct!!!
What about a grand sports and a zo6 c7?
Those would need to be covered in a seperate video ;)
I own a C7 Z06 7spd and I absolutely love the car it’s insanely fast and looks awesome. I’m hoping that because it’s a rare manual it will hold its value a little better.
Forget the C7 I'm going after a C6Z!
My video on the c8 includes the depreciation curve (or whats left of it) of the C6.
C6 is the best Corvette ever made and it will stay that way.
Well done!!!
Thanks. Which car would you like to see analyzed next?
Great video!!!
They'll drop more than that, or people will be stuck with them, I wager.
@Pos dem you could be right, I love vettes, especially the c3 shape and except for the severely neutered model years the performance for the money, even if they level out, is second to none.
whoa, this is old,, how about an update
Coming up in a few weeks
I would still go for the C8.
Great info thnx
German? Notice you start counting with the thumb... Great content.
Haha, I'm not German though.
I won't buy a c67 any more, I got my heart set on a 2020 , I don't think any body would buy a 2019 c7 for the same amount off money that a c7 cost now when you can buy a 2020 for the same amount of money u can buy a c7 I would go for a 2020,
Great video
As a c7 owner- I don’t like this video :-) (I didn’t click dislike) if you can pick one up- do so. You will not be disappointed.
I am a Manuel fan, but I am going to get an automatic C7, it's just so fast.
C7 values on the second hand market are going to absolutely tank as soon as the C8 comes out. They drop by an average of 10k every time a new Corvette model is released. I'm really wondering how you came up with only losing a few hundred dollars. Maybe you're not in the US? Cause if you've ever watched the Corvette market the values absolutely go to shit when a new model is released. You buy a C7 for 42k now and you'll lose your ass. Just wait.
You can see in the video how i come up with those numbers ;) . On a more serious note, in the video for which i will put the link below, i included also the prices of the C6. By looking to the combination of the models you can get an idea of the impact of a new model on prices and the longer term depreciation.
th-cam.com/video/9wE5f2UWLgQ/w-d-xo.html
The C7 is a beautiful car, the C8 looks llike a container of play doe screwed a box of legos!
This guy doesn't have a clue. Knowone who wants a c8 will even think about a c7 and knowing who buys a newer nice Corvette cares about depreciation they get what they want and can afford it
Surprise, some people actually do care ;)
I’ll stick with C7 no matter what.. C8 looks like NSX.. 😖
No way I will buy any tracked C7$!!! REGUARDLESS HOW CHEAP!!!😎😎😎
Just bought a ‘15 c7z z07 for 52k with 34k miles.
Congrats on the new car!
Fourwheel Trader - Car depreciation analysis thanks
sorrey way 2 complicated!
I c brand new c7 starting at 40k 2019. Go to cars.com. and see for yourself. 2019 c7 starting in the low 40k range
The situation in the video shows a snapshot of the market at that moment. It was made 3-4 months, prices might have moved
Twaine H. Horse feathers!
C6 > C7 / C8
What do you like more about the C6?
The Design is smooth not as busy or edgy as the other two, also the C6 rear is perfect. (like my wife ha), comfortable the other two are cramped. The interior design is better also everthing is open (radio, ac etc) while the C7 everything faces the driver with a useless grab bar for most drivers. Ive driven all (own multilple vettes) except the C8 yet a few people i know have sat in them. (cramped if over 6 ft is what im told)
U can pick up a new 19 for around $15k off sticker from the big reputable dealers. I personally don’t like the ugly C7 rear, cylinder deactivation & the problematic 8spd auto. Those buying a used with an 8spd auto better do ur homework.. Early Z06s had overheating issues. C6 is the last newer Vette I’d ever own.
German accent.....ien pom fritz bitte
I'm not German though ;)
@@fourwheeltrader oh sorry.....
Have no idea what this guy talking about...
What specifically do you think is not clear?
C8 isn’t a corvette
If you buy a car and your concern is depreciation than you can't afford the car. If you can't pay for it cash at least 2x comfortably, you can't afford.
Your economic education has been taught to you by those who want to keep you in debt because that's how they stay wealthy.
Notice I said "wealthy" and not rich..... there's a difference.
Great video