Ain't no way no body gonna pay that much for a car just to watch it loose all it's value, the only people that says stupid stuff like that are people that don't have one and can't afford one!
@Grumpyskater the E-ray would be a great option and you get more performance out the base model engine. After seeing some base 3LTs cross into the $100k MSRP range buying the E-ray becomes more appealing, especially with what you are getting standard on the E-ray.
I ordered my 23 Stingray in September of 22 for 10k above MSRP. I knew those numbers would go down in a year or so, but I got what I wanted built to order in three months total, cheaper than the markups on used ones then. I’m never planning on selling it and I put 10,000 miles on it in year one ( 1 mile for each $1 of markup) The fun and memories I made with my son is what I wanted.
I love that!!! At the end of the day it's your money and your life, live it to your desires because it's really all about the experiences and memories you make. One day you will be gone and no matter how much you have saved up won't matter anyways
All Corvettes drop in value, then stablize, then eventually climb in value! Just enjoy ownership. One of the few cars that are safe investments at any model year.
Kinda sorta if it’s a 5 thousand mile garage queen, even then not really, I own a c6 z06 I bought new, which is a garage queen it has just under 11k on it and I’m still gonna lose around 30k, I paid 85/90 with the loan, I’ll be lucky to get 60, very lucky
@@DanielBenzs65AMG I bought a 2001 C5 for $52,000. I dare anyone to be able to sell one for that price or higher, so I agree with you that Corvettes that are made in large numbers will likely never rise enough in value to be profitable to an original owner. I had so many issues with my 01 that I am done with Corvettes. The number of electronic boards in them mean that at some point, replacements will not be available.
@ my z06 just collects dust, once I picked up an 07 s65 on a whim I decided to park it and sell later, most likely for a newer s65 so I haven’t had any issues at all with the corvette and shouldn’t since ill rarely drive it again other than up my driveway just to let it run every month or so and not get flat spots in the tires, that’s my first corvette ever so I have nearly zero experience other than the 11k in mileage I put on the z06, the s65 has been extremely pricy to maintain and sort out but I’m close and I love it, but ill always love gm, just got into Mercedes later in life, I expect to get 55-60 tops for the vette, no complaints there, I don’t see cars as investments
This is an interesting topic because people can only see through their own eyes, how I try to look at it is people pay for what they want and the only justification is they can afford to spend what they did; while others have commitments or views and chose not to. Its like going to the airport and choosing not to eat or get drinks. No one that goes to the airport doesn't understand the food and drinks will be sold at a huge premium. Some people sit down eat full meals and have several drinks, others may be more price conscious and just by a snack and drink; while some will wait until they not at the airport to get food and drinks. Everyone has a philosophy on why the spend the way they do and regardless of which spender they are there's no wrong answer. The problem is people who couldn't afford the premium pricing want to make their decision to wait and get a lower price the best purchase decision that could've been made.
i own a 2021 c8 and had a oil leak around the transmission , the dealer had to remove transmission to repair and the bill was $18,000 to replace a 15 dollar seal, what a ripoff
I'm sorry to hear that, but that's also extreme! Unless you did some modifications to the engine or tans the power train warranty should've covered that since it's 5 years 60k miles. Did you shop around? There are dealers doing engine replacements for less and body repair shops replacing transmissions and doing body work on a cheaper bill. That doesn't make sense to me.... but I know myself I spend money for what I want but I shop around because I don't like to feel ripped off or exploited. Seems like they were taking advantage.
@SidLee-r5f If you peruse the the corvetteforum's C8 problems folder, you'll find many owners with transmission replacements. 2022 was an especially bad year for them. There are also many other quality and reliability issues listed, enough so that many potential buyers have backed off from buying a C8. I was one. I also backed off from buying a Lotus Emira for similar reasons.
Also, spec matters... I've seen gray and black ones sit on the lot for days, and torch red and red mist ones that are sold in 1-3 days after arriving. Can't forget about the desirability of the spec... and Vette buyers tend to be very particular.
@ARZiehm that's amazing because everyone isn't getting that deal. I understand why they are advertising it and what they are giving up to make most of those deals. But the discounts aren't adding up to 10% off and their own disclaimer says some rebates are being applied which you may not qualify for like recent college grad, military, competitors ownership etc. The issue with this is they are making this deal to get money on the back end. They can't sell all C8s and only 1k-1200 people will be able to take advantage of it. If you get the deal it doesn't matter to you what everyone else is paying, but in the grand scheme of things one dealer discounting cars heavily doesn't change the market when 40k cars are being sold and over 37k of them aren't being sold the same way.
@@ICNVDE From the contract I have with them, it's just a flat 10% off - no rebates/discounts, etc. Seemed like a temporary thing as it ended at the end of Oct. I got lucky pulling the trigger when I did for sure though. For comparison, my local dealer was only willing/able to do $1500 off msrp. Just seems like MM sells a lot of vettes and the margins don't matter much when their volume is that high. Definitely not the same for most dealers! Agreed with you overall though.
That's all that matters and truthfully if you keep the car like 40% of the owners will the current market value doesn't really matter until you are looking to sell.
You are right, but dealers can only get markup pricing when the value of the car matches the increase. Everyone sees value differently, but the truth of the matter is it's what you pay for it. People say the value of the C8 has fallen but the average purchase price of a c8 today is $85k plus TTL, and a new 2LT is the common 2024 C8 sold for $83k plus TTL after discounts. I only mention this because $1350 for 84 mos is what a large amount of corvette owners are willing to disclose for payments. But $1608 at 72 mos is what good credit is pulling with 8.74%.... either way people are willing to pay over $30k to own one. While the C7 was the only corvette option they struggled to sell Z06s for $82k and convince people to pay $1250 for 72 mos...or $90k overall for a car. What's remarkable is.... like you said the C7 grand sports and Z06s are becoming rare today and are selling between $47k-$78k but the average payments for a C7 Z06 still add up to $10k-$15k over the sale price which is still under $85k. When you look at it the cars still aren't seen by potential owners as worth more than $90k even with the crazy interest rates.
I see that but you also need to pay attention, some of that pricing or discounts you can't get to and some dealers are using 2025 MSRP pricing to show a discount advantage in purchasing a 2024 with a rebate. The New Corvette sales game is dirty.
Soooo glad I traded my 2022 2Lt HTC after having 6 months of fun with it. I saw this coming then. I just went to the Chevy site and 2024's new are a minimum $10k off MSRP. There are 1572 available for sale NEW within 2k miles of New York. People may not be trading them because they are buried in them. And it is 2025 in 3 weeks, saturated market.
If you don't plan to truly own a car that's always the goal, to enjoy it before you lose big on it. If you don't mind me asking what was your ownership plan for the car? You had a 2022 with a 2 year payment head start vs the current market, you wouldn't have been buried in the car. You probably had a better interest rate than what's being offered today. Buying a 2020-2022 car wasn't a bad purchase if you bought it before Oct of 2022. Being buried in the car isn't why many people aren't trading them; they aren't trading them because you can't replace it with anything else at a reasonable price. The cars have $10k discounts and 8% - 10.5% interest rates. People are paying the same amount in car notes compared to 2020-2022 purchases. Also most true Corvette owners and buyers, buy their corvette with the intent to own it for 3-5 years and not put heavy miles on them. It's not about them making money off the car it's about the ownership experience, the brotherhood and having a car that respected in the Corvette Community. Many new to the brand owners focus on the value and not the culture.... Corvette loyalist focus on the events, the brotherhood and unity it brings to their community, the Corvette is more than just a car, to some it's a lifestyle.
@@ICNVDE I bought it in Feb 2023 3k miles. So, I got the used car discount and paid cash. The car was ceramic coated, Vossen wheels, full Z-51 package. It was great, my plan was drive it for the summer and trade it in Aug 2023 to recoup most of my costs. That is when the C-8's started dropping in value. No offense but I could care less about the so-called culture. I ride a 2021 Harley Ultra Limited and do not own one piece of clothing or gear with any HD insignia. Just not my thing. The video title refers to how bad are C-8 prices now. My opinion is Bad.
I just bought a 2025, from Rick Conti. He just started offering 10% off MSRP, on all remaining 2024's... and HUGE discounts below MSRP, on 2025 Models, including Custom Orders! I called the Top Five dealers... and they are dealing to get rid of 2024's and just a little bit on in-stock 2025's, but they don't want to bother too much, with a custom order! It's time to buy a NEW $90k C8, for $81k!!!
I will say this again, New car dealers are not going to loose money on a new corvette sell. Many of the dealers don't have a new 2024 new car inventory so the 10% off is just a ploy to get people in to buy a 2025. The are willing to move some on 2025 pricing because they trying to sell a car and they know you will be hard pressed to find a 2024 for the 10% discount. If you looking to get that $90k for $81 deal you will work for it, because you have to find a dealer still sitting on one after discounting the car since AUG of 2024. No one is really giving any big discounts on 24 Z06s and even searching the internet there are just over 200 left and majority are still requesting MSRP. The ones with discounts are showing $3k or less on average with a few $5k discounts here and there. What I believe you are about to see is a cut back on base C8 production an increase on E-ray and Z06 production which will make it harder to get a new base C8 and allow them to meet the demand for the other cars. Don't be surprised if 2025 production numbers don't exceed 30k, GM has a history of cutting production numbers towards the end of the generations run.
@@ICNVDE Well, my intention going in was to Custom Order (exactly the way I wanted it) a 2025. The top 4-dealers didn't even want to talk about a custom order 2025... all they wanted to talk about was a 2024, with a big discount. I called Rick Conti... and he said no problem, I'm sitting on current allocations for Blurple and Yeller... and I also have allocations for Habanero, both leather and sueded! I spec'd a 3LT custom trim... and the price was more than MSRP -$6k! So, my thought was why buy a Year Old, in-stock '24, that isn't the one that you want, for MSRP -$7k to -$10!
I don't know why so many people act like the are surprised it did or as if it wasn't suppose to happen. Maybe they just been waiting to say I told you so and believe that people who paid the higher money are upset with their decision.
My opinion is that the C8's actual value hasn't "dropped", the ridiculous over pricing has finally been realed in. So I agree with you that the C8 is depreciating "on schedule". It's all those people that paid ridiculous amounts over MSRP that are up in arms about it. There is ZERO chance i would have paid over MSRP on that, or any other car! However, the C7 Z06 and ZR1 are holding strong, at least for manuals, due to the C8 only being available in scumomatic. I would have bought a C8 when i bought my 2019 Z06 of it had been available in manual.
I completely agree with the value not dropping but I'm not all the way with you on the over MSRP concept. Anything over $20k "in my opinion" was excessive but there has been some people that paid $30k over who's cars have depreciated very well with the market shift. Take a look at th-cam.com/video/sreRSC_Z2Ak/w-d-xo.html this video explains my stance on that topic. I believe people were cool with the $20k over they just misunderstood the market. I say that because many people are paying the same car notes payment wise today they would've paid with the $20k markups in 2021 to own a car. So was it really about the markup or a false sense of not being ripped off with the purchase? Why will people pay a high interest rate and accept that payment vs 0.9% with an additional $20k on top. $107k is $107K regardless of how you get there.
@@ICNVDE I wouldn't do either. I didn't get where I am today by overpaying for everything. My interest rate on my Z06 is already higher than I would like, but I told them I wasn't buying it at the rate the initially came back with.
@@puterg0d Understood, but let me ask one final question or present a different stance. Your interest rate isn't 0% correct? So would you still purchased your Z06 if the total of all your payments was the selling price for the car and they offered that for 0%? My point is many people focus on a fake price for the car , the actual price of the car is what you are willing to pay overall for it. You stating your initial interest rate offer was something you refused to pay, that's no difference than saying I will not buy the car for $20k over I will only pay $15k over. You can still shop the markups like you do interest rates. What people need to understand is in both situations you have control, people lie to them selves and say they have no control over the interest rates. That's why they will take on a crazy payment for a lower costing car vs a higher priced car for a lower interest rate.
After GM flooded the market with C8s, how could the value NOT go down? And one look at all the issues that owners are experiencing (on the corvetteforum) will explain why many potential owners are holding back. They are no longer highly desirable.
You are right GM did flood the market, but just being honest with you the value isn't really going down like you think. On the used market they selling $6k ($54K) less than what they costed brand new in 2020 ($60k). It took 177k cars built for them to offer a rebate to help sell one. We are 5 model years in and people are excited to get $5k-$10k off to still pay more for the same car today than it MSRP'd for 3 model years ago. That's marketing at its best!!! The ownership issues are not something I would wish on any one but every car built regardless of what it is has some issues and the C8 is not exempt from that trend. Despite what you see in the forums that's still only a small percent compared to the volume of cars on the street... there are over 182k corvettes made and 96% are registered to an owner. Plus there is still an entire market waiting for used cars to drop in value another $10k to become an owner... they are still highly desired, the only reason you would think they aren't is you not actually out in the car community and talking to the people still trying to get their hands on one.
@ICNVDE Consumer Reports magazine acquires more owner-supplied data regarding reliability and quality that any other magazine. The C8 Corvette is ranked third among 2-seat sportscars, behind the Porsche 718 and the Toyota Supra 3.0. Both of those cars have been more reliable than the C8. So no, not all cars have as many problems as do C8s.
@@davepaturno4290 You're correct but a lot of the issues they found in there, reports came down to paint imperfections, some trim issues and body or interior misalignments. There are mechanical and electrical problems out there but more complaints about cosmetics and nonmechanical issues.
@ICNVDE I did see more than a few about the convertible top mechanism seizing, headlight covers leaking, porosity -inducing transmission cases, and leaking gaskets.
LOL, when did we start trusting salesmen for financial advise? Hopefully no one committed to that in 2023, but yes there were some Z06 owners that did buy at that pricing.... many abandon ship when the prices started falling and were able to only loose $10-$15k, but honestly if you plan to keep the car and the payment fits in your budget sometimes you have to just enjoy the car you own. Trying to get out and start over may cost you to lose big.
@@killerjhul Sorry to hear that and I'm glad you are ok!!! Maybe it worked out for the best... Enjoy your ownership and drive the car, to many people get it but never really drive it and enjoy what it has to offer. It's the perfect quick out of town get away car and being behind the wheel on the open road is priceless.
@ICNVDE I am trying to drive it every day! 🤣 it's tough as winter settles in New England. Trying to break 500 miles before year end. Half way there now.
Here's what I've seen thus far, the advertisement say 10% for 2024 models, but the deadline was 9/30/2024. They are still giving discounts on the car but they not equaling 10% and they have actually expressed the 10% is over, but they still are willing to offer discounts on the 24 models to get them gone. They are not offering huge discounts on the 25 models but you may be able to get something if you are persistent.
I just bought a ‘23 LT 1 with Z51 and 2k in additional options - 5500 miles for 66k which is 9k under the sticker …. 20 months left on FW…. I think it was a good deal …. I’ve been searching nationwide since 1/24…. Dealers are still living in 2021 and 2022 with their pricing ..
Not a bad purchase, and depending on which side of the coin you are on with the dealer pricing can shape the way you view the market. If you looking to unload your car the aggressive dealer pricing makes it easier for you to do so and get some money from your sell. If you looking to buy, it makes you realize you waited for nothing and could've purchased the car for similar pricing quite some time ago and been enjoying the car for some years. The market will dip again next season and for the people who don't mind owning 20k mile 20-22 cars they will believe they made the smart decision by waiting. Truthfully the difference in $10k-$15k in a selling price on a car with twice the miles over 2 years isn't really a deal, but that's my POV. I'd rather have the ownership experience earlier in life.
Market is stable?? WRONG! I have a friend that bought a 2025 Z06- Z07 package for $12,000 BELOW MSRP! If you are thinking about selling your odd colored bronze car, you should do it NOW!!
If your friend bought an 2025 Z06 with Z07 for $12k below MSRP, congrats for him!!! People are struggling to get deals on the remaining 2024 Z06s on the market today. Also NO NEW CAR DEALER IS TAKING A LOSS ON A NEW CORVETTE SELL, I don't know one C8 Z06 that has $12k worth of profit in it. They can sit on a 2025 for a year and still not take a loss, because if GM makes a car they can't sell GM will offer incentives to help them move it. If GM is not offering rebates on a 2024 Z06 or base 2025 model corvettes why would there be a reason to discount the 2025 that much? I hate to tell you your friend lied to you or you're lying right here to get your 5 mins of fame. It doesn't matter what the selling price of the car says as long as the numbers add up to pay off the vehicle make sense before the OTD numbers. For instance if your trade is worth 10k but i give you 6k and you agree I can knock up to 4k off my selling price to make a deal. If i charge a $2k corvette prep fee i can discount the car up to another $2k to make a deal. It doesn't matter how the numbers are applied as long as they are there. Here's a little background on me, I actually sold cars before to include new Corvettes and still have friends in the car business that do. So i know how Corvette sells work and 95% of the dealer tricks to make money. I was an assistant used car manager before I walked away and I took pride in learning how to be a great used car appraiser. The biggest aspect of being a car appraiser is projecting what the market will do 90 days in advance. The other factor is knowing how to construct a deal and how to generate floor traffic.
@ICNVDE You should do some market research! Many dealers are offering a 10% discount on new Corvettes. His Z06 had an MSRP of $177,000. $12,000 is no where near 10% on this car. No trade. He bought it from a dealer in California. He did have to pay $1,200 shipping. He shopped for 3 months until he found this car. He did not want white with tension blue interior, but it was the best deal in the USA. Trade your Brown Brick for that Porsche. It's value is falling like a stone.
I've had the car just under 4 years, it's a fun drive but I'm positioning myself to make a huge purchase within the next 18 mos. I'm looking to get something more exotic and rare for my area.
That typically happens with every model when it's first released but after 6-8 months the market starts to correct it's self. The C8 was able to hold those crazy values for a few years which made the extras not hurt so bad.
I owned a 2001 cash on the hood. I only buy a car with cash. I'd like a C8, but it's not a manual. I'm looking for a Cadillac Blackwing manual. Some C8's are still selling for +$100K. Why not get the same car that's larger and a supercar also.
I understand that type of thinking as well, i often go back and forth myself. i think you can't go wrong with either purchase but it two different personality vehicles so get the one that best matches yours.
And who is surprised? All higher-end performance vehicles take a huge hit during the first 5-8 years. Corvette folks are just noticing it more because vettes have always been different since they have never really been into the budget supercar class until the C8. The M8 competition and the E & GT63 AMG S cars all lose between 40-50% of their initial sticker price during the first 5 or so years. This is because a majority of the folks who buy them are buying a new vehicle every 2-3 years because they would NEVER be caught dead in a "used car". The price on these cars stabilizes at that point and usually slowly climbs again, especially if the car has the rarer options, or the maker stops production. Look at the Mercedes S65 coupe. You could buy them used all day for actually less than what you had to pay for a S63 coupe, then Mercedes announced they would no longer be making the V12 car and overnight S65 pricing jumped back into the 6 figure range for a 3-4 year old coupe. Corvette owners have never really fallen into the same class of buyer as those of many of the other high-end posh type cars. They have always been more motorsports addicts who are in love with the mystic surrounding the Corvette and very few seem to buy the vette as an investment as most of us plan on keeping ours forever, or until we upgrade to the next one.
I do not disagree with you, I believe the over production of this car has really hurt what could've been a legendary run on value for the C8. if Gm would've stuck to their prediction of 125k-150k total cars built including all versions, the C8 would've been legendary for value, it took 170k cars being built to get the first rebate. What I believe is there are so many new owners to the brand and since this is an entry level supercar platform many working class and lower income people thought they were buying a true supercar that would maintain value, not really understanding most heavily produced supercars loose value as well because they still sell in a $180k price range. I love your S65 coupe comparison because I really want to get my hands on one and there is really never more than 10 for sell nationwide at one time. So availability keeps the pricing high but it's still heavily discounted compared to what you could originally buy one for. If the goal is to get a car and drive it while maintaining some nice equity in the car, you have to look at something 3-4 years old with low production number and expect to pay some slightly unreasonable preventive maintenance cost. It typically works out well as long as that car isn't a Maserati Grandturismo
I worked with a guy and he asked me if I wanted to come over and look at his Corvette he just bought. So I go over and see a bunch of parts on a pallet 😱 I said what’s so special about that 🤔 he said it’s vin number is no. 1 off the line for that years Corvette 😱 he told me a couple days later a Guy from Chicago came up with a box full of money 💴 and bought it 😱
He lied to you, so you shouldn't trust the guys you work with. VIN no1 for corvettes and Camaro's have been bought by Rick Hendrick's and the few models he doesn't own haven't switched ownership in over 10 years. VIN no1 for the corvettes never get driven and are worth well into six figures. He's tried to buy the ones he doesn't own for over $350k each and the owners wouldn't part ways with the cars. He paid over $1 million for VIN no 1 of the 2023 C8 Z06 and Vows to own VIN No1 for the C8 ZR1.
This latest C8 Vette is okay. However, IMO, it just does not look like a Vette without the big front engine with the long hood? I like the C6s and the C7s better. I even miss the pop-up headlights from the C3s. In addition, why Automatic Transmissions?? If you are going to make a Sports Car like this, then all Models should come Standard with either a 7 or 8-Speed Manual Transmission. I am a Vette old-schooler and a traditionalist who thinks that GM needs to stop trying to design cars like the Europeans and stick to American Tradition.
You're not the first person I've heard say that, but how do you say it does not look like a real corvette? I ask people that because there were 2 corvettes before the C3, Zora designed a mid engine corvette in the 70s he wanted to release in the late 70's or 80s. Most people that make that statement don't care for the C1 or C2 as well. The C3 Corvette was a design made to look more European and change the focus to more performance. If you really look at all the corvettes from the C3 forward they've all had a European connection to their look so saying the C8 isn't sticking to the tradition is in accurate because that's exactly what they're doing. Not making a stick shift was a controversial decision but being truthful adding a stick shift would actually limit the performance and technology of the C8 if they chose to go that route. The stick shift is out dated and limits performance, why do you think all the other supercars have moved away from them and went to dual clutches? If Chevy would've made a stick shift they would've just created a problem, although there are several stick shift junkies out there who would buy one. It would be an inferior car to the automatics which would out perform it in every aspect. The sales that are already low would be dramatically less, you would have a community of stick shift owners asking why their car doesn't match up with the performance of the automatics and it would be Chevy saying to the world we can't make a true supercar for an affordable price wo we came up with this gimmick. The C8 is what it was meant to be, the best engineering marvel by Chevy engineers and the corvette that was built to bring respect to the Corvette badge. The C8 has now put the Corvette name on the world stage and dominated all conversations about performance and car sells. No other Corvette could've sold 200k cars, all I say is stop trying to make an argument of why you hate it and embrace why it's the best corvette ever built.
@ICNVDE I know that Automatics outperform Manuals, but, I still like Manuals (Stick Shifts) better. I would buy a good used C7 with a Manual before I would buy C8. I do not care about the Technological Goodies that come with the C8. Despite your statements about the C8, in my mind, it still does not look like a Corvette because of the Mid-Engine Design. Thanks for the Reply.
@@kevinsmith8003 I can't fault you for what you like and knowing what you want. There aren't that many true die hard manual owners out there, I believe true manual owners are a dying breed. We are living in a world today where it's all about the next technological advance and doing more with less physical effort. Actually being engaged with the car while getting the performance out of it isn't something many new owners to the Corvette brand because of the C8 will ever understand. I hope you get the car that will give that driving experience to you, the C7 Z06 or ZR1 nay be that animal you looking for... lets face it no matter how amazing one person sees something it may bee the worst option to another... but in the end it's all about finding what makes you happy and that's all I ever want any one to do, so find that car that does it for you and share it with us!!!!
That's amazing and I know several owners that go to road america each year and test their driving skills with their cars I haven't driven at road america but I have been on 2 other tracks and it's a fun experience.
Statistics show the C8 series cars brought in new buyers demographics that were never in the Corvette market. That alone says the price wont drop like you think it will. The BMW 3series crowd is gone as well as the JDM crowd, but the EV crowd is growing. That leaves the C8 crowd of buyers in a very unique position never before seen in Corvette history. Dont think that the future will see this particular series relegated to CHEAP status anytime soon.
Yes the C8 has brought in new buyers to the market place but you also have to understand it will be the first sports car to ever have over a 200,000 models built. It's slowly drifting into the realm of to many cars for the market and that's why rebates were released. If they continue to push out more than 20k units a year it will become just like every other Corvette built before. I thought they would deliberately not make more than 150k cars total to keep some value with it but it looks like making every dime you can became the strategy.
I got burned on what I thought was a great deal. I bought a 6 month old slightly used loaded 2023 C8 at $12K below list. The seller had paid $10K over list. I thought it was depreciation-proof for a year or two. I tried to sell it 6 months later after $6K for full paint protection. The market was already collapsing. The best I could get was another $10K below what I paid. All-in-all, I think it cost me $20K to drive it for 6 months, the same as the first owner lost for his 6 months of fun. It's not just the Corvette. The whole car market, which got over-inflated, is ina free-fall.
You were correct unless you paid cash, if you would've kept the car and paid the car note for 2 years the payments would've balanced out. The $6k full paint protection is a long term investment, if you didn't plan to keep the car long term i wouldn't have invested that money. The market is crazy but the cars are typically selling $12k-$15k below list today that number will get smaller when the spring comes around.... right now is a bad time to get the most for your trade but its the right time to get a great deal on a replacement. All sports car selling prices are down, and you can negotiate the value of your trade... dealers are low balling on trade values right now and begging to move cars. This is typically why I get my sports cars this time of year, you can't beat the deals.
It's not surprising because most summer car drivers buy in Feb and sell in Aug. When you look at sports cars as a toy and not a purchase you can buy (rent) a car in Feb and sell in Aug and typically if its used and you keep the miles under 3500 from the purchase. You will loose the taxes and maybe $2k dollars. Many people will spend that to drive a nice sports car each summer. With more C8s flooding the used market under 5k miles, if you don't plan to keep it; why would you buy a new one? Look at it on a bigger scale, you own the car for 8 mos and it cost you $8k dollars. Renting one from a rental car company is over a $100 a day.
Corvettes have never held their value.........this is nothing new. Buying a new car, especially a new Corvette is a good way to make your bank account evaporate. When it comes to Chevies, Camaros hold their value a lot better than Corvettes, but any car you buy brand new loses a fifth of it's value when you drive it off the lot. If you want to buy a performance car and holding it's value is very important to you.....Shelby Mustangs and Hellcat Dodges are a better choice.
It's the economy. The Corvette is amazing. Still think the C6 is awesome. I saw the C7 in a neon yellow with some graphics and I wanted it. The thing about the Corvette generations is that no matter what year you buy, they all look good. I like the mid engine, I don't need a ZR1, I would like a ZR1, but if I could get a ZO6, I would be so happy. Love the cars in your video. Keep it going.
Thanks!!! You are 100% correct but what happens is there has been an influx of new buyers to the corvette market who only came for the midengined plat form. They are use to markets with less activity and lies so they are to invested in making the right financial decision vs owning a car they truly love to drive.
You right. Economics 101. Supply and demand. Chevrolet put a Corvette emblem on it. Chevrolet wrote Corvette on the Window sticker. Chevrolet determines what is or is not a Vette. Why are ppl so stupid?😊
LOL, I think we have drifted into a space where logic is not the right answer and how people feel is prioritized more. People who have nothing to do with the creation process feel lie the have the most to say about how it should be.
Nicely done video. There are dealers out there On east coast selling new vettes at $6-10k under MSRP. My buddy just got a 2LT 2025 convertible at $8000 off MSRP
@MattChristensen-zy2yr What people advertise and what people can actually buy is two different things. Since GM introduced rebates, selling a car with rebates and at invoice would make it possible to get to close to $8k so it could happen. getting to $10k off would take all the starts aligning but my point is no dealership is selling the C8 for a loss and they advertise these prices applying discounts everyone can't qualify for. I will never tell anyone what they paid for a car but I also know the top line can say anything it's how the numbers are applied getting to the OTD price that matter.
Nice ride. Enjoy it and stop worrying about depreciation, etc. Your car is already considered "high mileage" and not particularly collectable. At the end of the day it's still a mass-produced Detroit vehicle. Expecting it to retain its original value is just plain silly.
Thanks, I truly loved the car and it was never about a collectable for me. I bought it to drive it to my hearts content. The funny thing about being in the car community is you realize people try to evaluate things at the wrong time. For a corvette to be a collectable you need VIN 1-50, something extremely rare about it and in most cases 10 years for recognition, 20 for acknowledgement of the rare models, 30 for inclusion of that generation and 40 plus for miles to not really matter. I never planned to own my car 10 years, but if I bought another car today and made my corvette a Sunday driver going forward; in 2030 my car's value would separate itself from the pack and be higher than a normal C8. By 2040 it would be significantly valued more than a normal C8 and after 2050 it would be in its own category and miles would never make it lower than a general C8.... I'm truly a car enthusiast and watch these things across brands, from my father parking his 82 Coupe Deville and 84 Monte Carlo SS in 1999, he paid under $5k for each car in the early 90s to selling the SS after sitting in the garage for 8 years in 2007 for $16k with 72k miles and people offering $20k for the Coupe Deville Today and it hasn't been driven since 2001 with 51k miles. It all depends on WHEN you sell it. I started looking at the value now because I'm about to sell mine soon and people always ask how's it holding up because they felt i should've waited to buy one. I still can't understand why people want to tell other people how and when to spend they money.
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People that wanted the early models paid a premium, nothing unusual about that. Now 2024 & 2025 models are in dealer showrooms and selling at MSRP or slightly below. The C8 is still a bargain compared to other mid engine super cars and probably one of the very best designs GM has ever released. Your personal car looks fantastic.
Thanks!!! I agree there was nothing unusual about people paying a premium to get the earlier model. I feel because that premium lasted so long many buyers who wait for huge discounts got offended and now today since those discounts are starting to become available they want t o justify their decisions to wait by saying "I told you so" and they were right.
Cars are not an investment. There are a couple Ferraris that appreciate but that’s not 99.9% of the market. I bought a 2023 C8 with 8k miles for 67k, I justified it in my head that it couldn’t depreciate that much, but it will depreciate. I will sell it with 10k more miles in 5 years and I hope I get 55k. It’s just cars.
That's a good way to approach it but I would hope you put more than 2k miles a year on this car over the next 5 years... its truly a fun drive and an amazing road trip car
@@ICNVDE Agreed, it's not for lack of trying...I just don't drive it to work cause of the parking situation. So, weekend drives only. In a few years, the extended warranty will be up and I'll trade in again for another fun weekend driver.
Have a 22 2LT HTC with performance exhaust, front lift, low wing, and upgraded wheels. It was $86k + tax. It’s one of the best cars I’ve ever owned and worth the money. If you are thinking about getting one, just do it. You won’t regret it.
That's what i tell everyone, especially if you can get it at MSRP or with a rebate now. Stop worrying about the resale on day one buy the car because you want the experience it brings.
The cope is strong in here. There are people 30,40 and 50K upside down thinking it’s cool because it’s a C8. I want one but I’m waiting because there are some really good values out there. Seen some Zs with about 6-8K miles 2LZ package for 120K. There was a time that you couldn’t touch a Z 1LZ for less than 140K on a good day. Give it another 12 months and you’ll see them between 90-100K. Now that the market is going to make a hard correction, deals are going to be abound. Enjoy your cars but stop acting that being 30K upside down on a car is a cool thing.
I don't think anyone has made the statement that being 30, 40 and 50k upside down is a cool thing. Being quite honest with you, most but not all the people that made the decision to pay $100k over for a Z06 had money to play with and probably dumped it once they got $20k-$25k upside down. To many people make the false assumption that when a Car starts to tank you say oh no and stay buried in it. You don't finance cars selling $100k over sticker, you put an absurd amount of cash down and when your car starts to trend downward you trade that car in or sell it out right and get out. But incase you did take out a loan on the car, when you cross the $150k range most cars are financed for 10 to 15 years. It makes the car notes more manageable. You drive it for 4-5 years and move on into another vehicle that depreciates less. If you did take a 7 year loan the payments would be so high that you would knock off $32k to $37k of principle each year. You have to be committed to that payment for at least 3 years when you signed up and somewhere around the 20 payment mark you will be right side up.... the car will not depreciate faster than the equity payments of 3 years. I can't deny your prediction of a Z for 90k to 100k in 12 months a base 2 year old car losing 10k in value isn't absurd, but the more equipped cars will depreciate slower. The reason you see so many cars discounted now is dealers ordered well equipped vehicles and everyone wasn't in the market for a Z06 north of $145k. But I don't see a 1LZ being less than $80k for another 32 months and i don't see GM producing cars that's not selling so they can take a loss. Now that dealers are discounting the cars to move them, production numbers will start to slow down. On the Zs and E-ray production may increase because they seem to be the cars people are targeting more. Good luck in your pursuit of a Z06
Congrats, way to find the deal that worked for you!!! The used car market is a great way to get a good deal on a car, but it's often hard to compare. No two used cars are the same and how we approached selling them. Every area and region has their trends, like White, Black, Red and silver cars sell better in Chicago with black being the top seller. So you will see more of those colors on the used market in our area. The other colors tend to be advertised for less even though it could be similarly equipped. Vehicle history plays a factor as well, the cars that got delivered with GM "I Owe Yous" tend to be valued less. Remember there was a stint when GM was delivering cars without working parts because of chip shortages with the promise to add them later. Even if the chips got added later dealers low ball the value on those cars as if the work wasn't installed correctly or an issue they need to repair. So a lot of those cars are listed for sell slightly lower than others. Doesn't mean its ab ad car just the resale will maybe lower when you go to move it. The same thing applies to cars with a lot of added on color deletes and over rides to get a desired spec and combination. The fluff money on the invoice is ignored when it comes to setting the value for the car. Did they show you the MSRP for the car or are you comparing it to today's MSRP?
I paid what the car was worth to me, and I've kept each of my cars for decades. I only care about prices when buying. The price of what I'd be selling to by the car is a bigger concern when buying.
That's the basic principle behind buying any car, but so many people today are concerned about the next owner...lol. I hear so many people talking about resale value it drives me crazy. So what you are saying is you bought the car for the status of saying you have it or had it at one point, but you wont actually enjoy or drive the car because you want to make sure you can get the most for it when you sell it. I don't really understand that logic but it's very common in the corvette community. I wish more buyers would buy it to enjoy it not to sit at car meets in front of it.
They aren't the only location, the internet is a great place for many people but there are still people out there that don't want to buy things over it and believe in buying from their local area. So there are people willing to pay that money just so they can get the car local.
I'm seen some dealers offering $10k discounts for the '24's. Now that we're coming up on the 5th year of the 8th generation it's historically typical that sales numbers will start dropping off. GM is no doubt feverishly working on the C9 design.
What's crazy is people get stuck on today, GM has been working on the C9 before the e-ray came out. Everyone likes to argue about what prototype car is on the street and where. Gm started working on the C8 back in 2016 they had working models with over 65k miles when they did Jay Leno's test drive of the C7 ZR1. When they were testing the C8 Z06 they had they had E-ray and ZR1 models in camo as well. People never understood why the engineers wouldn't rev the car.... that's why. You hear people always saying during the track test they hear different types of engine sounds, that's why. Prototypes and engineering on these cars start when they are dangling something else in your face.... They didn't come up with these designs and ideas just after they made the last version.... some people actually think they do.
Would I be making a mistake trading in a 2023 C8 Z51 70 th Anniversary Edition coupe with the optional duel ceramic stripe in White Pearl with GT2 seats 6900 miles owned one year so far it had 2800 miles when I picked it up . For a factory new C8 E Ray coupe in Hester Purple. ? It’s about $20 grand more avg concerned about depreciation value for both cars what do you suggest?
This is a good question and I struggle with getting a real feel for the E-ray Market. I look at the Acura NSX, the cars that are starting to have recharging issues are selling for a lot less than cars that aren't. Not saying they are bad but they won't recharge over 70-80% any more on the battery. So the electrical assist doesn't work as long as it did 8 years ago. Buying a NSX today you have to be concerned about that battery and hybrid system. The warranty on the hybrid battery is 10years but there is crazy regulations about the number of cells that have to be dead and a certain amount in a row for it to be enforced. It's a similar concept with the E-ray and in my opinion replacing a battery will be costly down the line and new technology keeps coming out, so if you look at the old Hybrid Tahoe's and Escalade's from 2007 and 2008, replacing the batteries are expensive and technology has advanced so they not even using that same battery setup today and their isn't a conversion for those vehicles. So I believe evaluating the E-ray for a long term purchase will be hard and many of those cars may have the electrical assist aspect disconnected in 10-15 years down the line. The 70th will always have a unique market and corvette purest trying to own one. Historically anniversary editions typically stay $3k-$7K above the market value of the base cars. If you looking to just enjoy a car for the next 10 years or less get the E-ray it will blow you away. I don't believe the E-ray will make it to base C8 pricing in the future with depreciation but that $20k gap will probably be close to $10k in 5-7 years, so you have to ask yourself is the added performance worth the money. I believe the Z06 is a more solid purchase and will hold value better.
My wife told me to buy a Corvette just before she died.. And to enjoy it. My son said to buy a Shelby. More curb appeal, he said.. I bought the Shelby and I am glad I did
Sorry for your loss and I actually agree with your wife, if you looking for a car that you truly can enjoy the Corvette was it. The Shelby isn't a bad alternative but the ownership experience is completely different. Owning a corvette is so much more than just owning the car and when I try to explain it to people they never get it until they buy one, I made a video about it but people still couldn't relate.
Maaaan I figured your C8 would be valued more since it's a discontinued color. I have a 2019 GS....I'm on the fence with getting a C8 only because of the passenger seating being too cramped.
here's the thing, having a rare car only matters to a person looking to own something rare. I get appraisals from some locations higher than other because they know it's rare or they specialize in selling unique cars, they not afraid to hold the car a little longer to get top dollar. The locations that's just looking to move a unit group it with every other car, but it goes both ways.... I got an ultra rare S-coupe from a dealer that was selling it like just another Benz. When I moved it i got top dollar from a dealer that knew what it was. I'm not trying to find the right location to move it right now, I'm trying to find the best deal with it to own my next car.
I’ve been a Porsche guy for 25 years but when I heard the Z06 motor and the Chevy guy begged me to sell my 6 year old 911 gt3 I got into a new Z06/Z07 3LT and gave me cash on top of that. So I thought I was in for about 130,000. But I saw the values going down. New 23 and 24 Z06s like mine selling for $140,000 ( with $165,000 MSRP and no miles) so I got out and traded it on a Lamborghini. I think Chevy is building to many too fast. The Z06 is a super car but GM needs to tighten up some things. It tramlines. The CCB brakes are mushy and the DCT is lazy . That’s all programming. Once they get those fixed it’ll be a great car.
Jim you have had a journey with car ownership in a short time, but you also are what I consider a conscious buyer who makes the logical financial decision vs enjoyment of the car. Your actions/decisions were dead on and something I would've done if in the same situation. The only thing I will say is there is no such thing as a new 23 selling for under MSRP and despite what you may believe there aren't any New Z06s selling for 25K under MSRP. 85% of 23 Z06s were preorder cars and almost every non pre order cars sold over MSRP. Welcome to the average Joe/Corvette car market of smoke and mirrors. There are so many tricks dealers use to make people believe they can buy a car for huge discounts but they can't. The cheapest Z06 for sale today is a 2023 1LT with no options but an add on Lo Jack for $500 is $104,561 with 16k miles. The starting price for the 23 Z06 was $105,300 lets say under $107k with gas guzzler tax. So even with miles you aren't saving $5k. Many dealers are advertising Z06 with huge discounts but they are using slightly more equipped vehicles with the 2025 pricing showing you are saving money by buying a 2024 Z06 with a $3k discount. The cars that show bigger discounts have discounts in the price you can't get and $995 dealer add on fees on top of the listed price. To many people look at the advertised price but not how they get to it. NO NEW CAR DEALER SELLS A NEW CAR FOR A LOSS the manufacture always steps in and takes the hit because they built a product that wouldn't sell. They will dealer trade the car to a different market before they take a loss. If you understand this then you know it's a game to get people in the door and get them focused on payments.
They are nice cars to own, look at a C6 or C7 they are more down to earth in pricing and there is a handling difference between the C8 from those two but the power isn't to far off and both cars are still fun drives. They may be more wallet friendly.
@ my ride is 1994 Rusty Chevy pickup with 280,000 miles on it , if I had an extra 25K laying around I’d buy the Buell Super Cruiser motorcycle being released in 2025 , 185 hp , goes 180 mph , just over 400 lbs , and it’s a cruiser , I’m more into bikes , but not crotch rockets , and I haven’t had a loan payment in 33 years , and I don’t want one ! And snowmobiling is more fun , no speeding tickets , over 100 mph in a car don’t they yank your license and impound your car ?
You are 100% correct, but what you may not be aware of is before the Covid pandemic over 70% of cars sold for the advertised price, 7% sold for more than the advertised price and 22% sold for less than the advertised price. Since the pandemic to present times, the cars sold for less than the advertised price has went down to under 18% and the other 2 areas have seen increases. A lot of people don't argue prices anymore they are carmax conditioned. Plus many dealers have started adopting the no haggle pricing and they let the lender dictate their discounts. At the end of the day the advertised pricing you see on the internet is typically the competitive price for that area. If they advertise to high no one calls or comes to see the car, if it's to low it sells within 2 weeks. It's a good reference point because dealers are going to always make offers to buy cars based off what they expect to sell them for within 60 days. Most dealers will discount the car $2k over two months and they want to make a minimum of $2.5k in profit so they will typically offer you $5-$6k less than what they plan to sell it for plus repair costs. If you understand the market in your area, you can get the best deals. The reason I started buying cars from other states was I made money on cars keeping them less than a year and selling them in my local market.
@@jimbeam4111 I don't believe that was a mistake because when GM issue rebates they give a specific dollar amount not a percent, when people negotiate price they work in dollars not percent, when you look at out of pocket cost you look at a specific dollar amount not a percent. You're looking for a one response fit all situations and that doesn't exist. The reason I used dollars is the vast majority of owners and buyers focus on dollars not %. When you start focusing on percent's people think you trying to pull a fast one on them or use smoke and mirrors to confuse them. Ask a person how much they pay in taxes on a new car purchase in their area, they will tell you in less than a min the percent or an average percent for their area. Show them a specific selling price for a car and ask them what the taxes would be and over 90% of buyers will give you an estimate or take longer than 4 mins to give you an answer without a calculator. So using percent's is the easiest way to manipulate numbers when talking to people. I want people to understand what I'm talking about because it's basic math not question the concept because they struggle understanding the actual numbers. The advertised pricing of cars is what makes people call in or pursue a purchase. Many cars sell at the advertised price because people shop online or want to buy a car online. Online car sales sell at advertised price 96% of the time because all dealers show their hand. And customers only contact the dealer that has one of the cheapest prices for the car they desire to own. Dealers really don't have to do anything but wait for you to cave, which 96% of buyers do. So understand when I made the video I specifically chose to address the over whelming vast majority of corvette owners that bought their car for the advertised price and the few that got $2k or less in discounts that can objectively apply the conversation concept to what is taking place in the market. Not the small percent that got one off deals or believe they can get something better but haven't attempted to buy a car.
I bought a 2020 corvette z51, 1 LT at MSRP during COVID for 67k and sold it to a dealership for 59k with 28k miles a month ago. Car sold within two weeks at the dealership for 61k. Evidence to show its still holding its value and for me the best value I had for a car in 4 years I owned it, almost like having a free car for 4 years. Sold the car as I'm getting an Eray for MSRP on the way at level 3100.
See your story is the one people don't understand and miss. Like you said "it was almost like driving a free car," but it really was more like renting a car with unlimited miles for less than $4k a year. That's the value people don't recognize or over look.
Thanks, BTW that was such an underrated car and I really wanted one back then. Today I've seen 5 that have been LS swapped and those things are ridiculous... If i had a shop and some downtime over the winter, that's what I would do.
@@michaelramsey3986 Sounds like a real stunning car, I'm sure theres a community growing with it. Don't let it go it's going to be one of those timeless classics that's rare. It may never hit a $100k rareness but it will be a car that when you see it at a show or try to find one in 5 to 10 years that will make people say I should've bought one.
Its the same thing with the BMW M car market. These dealers car creating an artificial market. In no world is a car with 10k-20k miles worth +/- $5k of a brand new vehicle same spec.
@MrBruce-oc8ht So I have to say this again, you can advertise any price doesn't mean you can buy one! Ciocca doesn't have any new 2024 CORVETTES TO SELL, that is marketing to get you in the door. Once they get you in they switch you to a 2025 and try to focus on the payments not the OTD price.
Year 1 depreciation 20% Year 2 depreciation 10% Year 3 depreciation 10% Year 4 depreciation 5% Year 5 depreciation 5% Example $100,000 purchase price after year 5 the vehicles value is roughly $58,482 give or take a percentage or two for condition. So that is a net loss of $41,518 or roughly 41.5% of the initial purchase price (the year over year percentages are off the reduced value of the vehicle at that time). Vehicles just as primary real estate are not investments, they are necessities to live with shelter and to be used to get to work to earn an income. If you’re not daily driving this corvette then it is a toy, an extremely expensive toy.
Paid 54k for my zl1 , sold it for 47k and a 2.5k gm incentive after driving it 3 years and 35k miles . Thats 4.5k $ for 36 month or 125 $ a month 😅😂 Know the game , play it wisely . I will do even better this time 😊❤
@jimbeam4111 I always use similar numbers to figure out when I should buy car and what i project to loose when looking to get out of it. So I typically look for 2-3 year old cars because most of the depreciation has been absorbed. Then I figure out how long i anticipate on owning the car which is typically 30 months and plan my exit strategy from day one. The one difference between me and other owners is I drive everything like its a daily, if its safe to operate the car in the weather conditions I'm getting behind the wheel. Sometime I wish I would've thought of DDE, my friends and neighbors were saying I was crazy because I was driving sports car and convertibles with the top down with snow on the ground back in 1997, just didn't have super car money...lol. Thanks for sharing the info hopefully it helps someone.
So lol I actually have a video coming where i'm talking about this because I keep looking at C7 Z06s as a potential purchase. It's a car i would like to own for long term. The C8 market is FLOODED which has helped keep the C7 Z06s in demand because of the power they produce for the cost of an entry level C8. The C8 has the look and amazing low end performance which for many older corvette loyalist is enough. If you're price conscious and looking for the bang for your buck it's hard to make an argument against the C7 Z06 because in my opinion its the only logical answer.
@@ICNVDE yea bruh you’re right I had to trade my C7 Z06 back in July and the manager bought it for himself on the spot!! Gave me 61k. I’m still crying-miss her so much!
Florida is it's own market, prices tank in Florida because it's one of the few places you can drive them all year round and out of state buyers are skeptical of the conditions because of all the storms.
I completely understand and it will get there. You aren't the only one and it also reminds us that no matter how so many people believe everyone that wants the car has one, there is still a market that hasn't been tapped yet waiting patiently.
What do you think of C-7 and C-8 that have very low miles that have had 3 owners???I mean people buy a car like this and only keep it 6 months or a 1 1/2 years???Would you buy a Corvette like this???Is there some thing wrong with the car or did the just bite off more than they could chew??? I have a C-8 but look at the market just to see how the values hold up and the prices.
I like your question and I will make a more detailed video about this! Keeping it simple, i would use the tools available to me to make the best decision. I think history and market awareness matters, but if you would buy any other car on the economy with 3 or more owners don't look at the Corvette any differently. I believe every corvette generation has had some type of bug which is typically addressed as the model years progress. Many fixes aren't costly to address out of your own pocket today and most were taken care of by the manufacture. The only thing that concerns me about used corvettes is, they are high performance GT cars that were built so any mechanically inclined consumer could work on them. The lack of documented servicing history would concern me, and a history of over servicing would be a concern as well. But many old school corvette owners adopt this philosophy that you can't over service a car. Although it is a true statement to an extent, you can also create a false sign of a car with issues/problems. A lot of potential buyers will avoid that car and dealers will lower the value of it. When it comes to owning a sports car, many people have different purchasing philosophies. The more expensive a car gets it tends to have a higher turnover rate. In most cases it's not because the car has issues, it's because people who are financial conscious typically understand the longer they own the car the more out of pocket cost they will pay. I touched basis on this a little in this video but ultimately it comes down to a budget for the seasonal ownership and living with in it. Overall I believe you can find a good multi-owner car, there have been some concerns about both generations that could create concern. But in most cases they have been addressed and the cars which have been repaired has an additional added coverage attached to the car that will carry over to the new owner if applicable.
I own a C 7 zo6 when the car came out the basic stingray was over 100 thousand I knew I never buy this car it was overpriced it might been 60 thousand you couldn’t buy one GM screw their self on the c8 60 thousand before you put anything on it you need understand they made a lot c8 which make it not the one to buy.
I completely understand but GM making the other versions of the C8 starting over a $100k has also forced a lot of people into the stingray. There are a few nice discounts on the Z06 and The E-ray but it's heavily equipped cars with MSRPs over $140k. The average and historical corvette buyer isn't in the market for a $120k plus car.... that's why the C7 ZR1s struggled to sell everyone was waiting for them to drop below $90k before the started chasing them... and they never did. The base C8 stingray will be the only corvette many corvette owners ever own and even though the market is flooded with them, it'll still be a while before you can buy one for under $45k with a clean title....
@ ok c7 zr1 was car they made one year it started a 140K because only one year in production and being Zr 1 it set up be the car buy to set in garage because the low number and price would climb my zo 6 was 91k that’s 49k over mine and just second faster made know scent to me to buy unless you gonna set on it for a profit which most people did. C8 that difference story once GM understood the buyers a young man with deep pocket who would sell his soul to buy that car. GM chose the young man then over their loyalty older buyer and price them out. Personally I don’t like the car and I will not but that car at any price just don’t like it…..
@@dwightmurray9763 That's the beauty of the corvette community and market. You saw the C7 ZR1 as the car to be purchased and sit in a garage. Many of the ZR1s purchased were driven and if you truly look at the ones that hit the market place today they have more miles than base C7 Corvettes garage kept for no reason. Unless you plan on keeping a car for 30 plus years for premium value the miles don't matter. But my point behind the C7 ZR1 pricing was 70% of the cars didn't sell for MSRP, they actually sold $10k-$12k under. The same for the C6 ZR1 which is the most driven and heavily modified corvette that corvette loyalist look to buy and build upon. Loyal corvette owners aren't in the market for $100k cars.... they just not. GM didn't choose younger buyers over their loyal older buyers, they just made a decision not to give them anything for free. They maximized the performance out the 6.2L v8 and gave it to them for a steal. Lets be real, the Audi R8 V8 cost more and doesn't have near the same performance capabilities. Every thing else they brought out is a ground breaking first and they said if you want the performance and technology you have to pay for it. Hybrid Corvette (E-Ray) you got to pay, Highest Reving Horse Power v8 ever (C8 Z06) you got to pay, The fastest corvette ever made (C8 ZR1) you got to pay and the first Corvette Hyper Car (Zora) you got to pay. It's not about screwing over their old customers it's about showcasing their engineering capabilities to the world and still getting fairly compensated for doing it while making it obtainable to the middle class. I know some people will say it's not obtainable but if you can buy a New Range Rover SVR or a used R8, 911 GT3, McLaren or Huracan you can afford the new performance C8s with a factory warranty.
GM, in my opinion, just missed on the styling of this model. Even an old Pantera is a better looking mid engine car in my opinion. I know it has the performance. Get those ugly headlights off the front fenders! I prefer 1998 and earlier styling. Yes I've owned Corvettes and even an XKE Jaguar from the 60's.
@rondyechannel1399 they didn't win over everyone with the styling but I actually love it for their first go around. It was dramatic enough to draw people in but historic enough to see the history of the previous generation. I know they can't make everyone happy but it seems to be a crowd favorite for the most part.... remember they barely made 94K C7s and they're a few units short of doubling that number today with over 96% of those cars in a customer's hand.
I would dis agree with the over valued from the start, but since they are looking to put over 200k cars on the street I have to agree. The only thing I would say is based off the amount of cars that's out there I'm actually surprised its doing as good as it is, I would've expected the car to be doing quite worse. If any one would've said in 2020 there would be 177k cars made by the end of 2024 and the cars would be selling less than $10k under MSRP with 40k miles i would've said you are crazy.
@ICNVDE I am going to help you out. The pandemic plays a role in how many they were building. Now inflation, it was supposed to be about 30k a year. Now, do the math. Mass production 🙌 😅🤣😂
Nice car and a close friend of mine has one, I thought about the coupe as a 2nd vehicle. Its nice styling and reliable but the C7 was a more engaging and fun drive. If you want more of a luxury appeal then go with the LC but getting a C7 could save you more money and the driving experience performance wise will be much better.
I almost agree with you projection, but I think it will be more like $42k-$62k. My question to you is what are you trying to compare? C7 ZR1 $124k-$148K 5 years later $180k-$250k A base C6 corvette $52-$69k 10 years later $10k-$28K either way the C8 still seems like a good purchase with less depreciation compared to other corvettes of the past.
@ An S&P 500 index fund would be smarter than any car overtime is an investment, even the Ferraris from the 1960s that are selling for millions. Cars are not good investments. 🙂 Also don’t forget, of the newer Porsches, the only one that really holds its value extremely well is the GT3 class. But let us not forget that in order to even get on the list to purchase one, one must have established a “special relationship“ with their dealership, wherein one is required to have purchased several lesser Porsches. So factor in the depreciation and lost sales tax/insurance costs etc. for the ownership of those vehicles, coupled with the $100,000 markup for a GT3 variant… the index fund just looks better and better. 🤣 So if we get back to the Porsches in the same class as this C8 Corvette, if you look at the MSRP to MSRP depreciation cost of each, historically the Corvettes have still been less expensive by virtue of the fact that they hold their value comparably to the Porsches , the Porsches have a bit of an edge percentage wise but they cost so much more, ownership cost for the Corvette is still much less. not to mention insurance and maintenance etc…. Pretty hard to fill a glove on this thing in terms of what it offers for the money, and it’s just an absolute blast to drive as well. I had a 2020 and traded it on us 2023 Z06 which is even more insane. Love it!
That's truly an opinion, the styling and design has been admired by so many; think about this... they made over 177k cars and 96% of them are registered to an owner. I think that alone speaks volume since that type of production is unheard of, especially for sports cars.
used will drop another 5k in the next few months. There sitting for a while. It will take a year to get the economy going strong again. So i think it will be a buyers market for all of 2025
I think a lot is going to change with the economy over the nest 2 years, but the fact corvettes are sitting isn't the issue. The corvette sells will go up 2 weeks after the new year and sports car typically corvette sells go up in tax season. So basing todays market on the trend for prices drops i wouldn't completely agree with. Look at the history of corvette sells, the C4-C6 sat on the average corvette dealer lots an average of 6 months the C7 sat on lots around 5 months. Franchise Dealers and Sports car dealers expect to hold sports cars 5-8 months. The 5 dealers I took my car to and every out of state dealer I've contacted over the past 5 weeks about unloading my car all say the same thing "I have to sit on this car until late march before I hit the 3 mos window to truly try to sell it." So with them understanding this the panic people believe dealers are going to have because the car has been sitting really isn't there. Dealers play Chess while consumers typically play checkers. If you really want to get a good deal on a sports car, buy it in November and December. Regardless of the location you in, it may be cheaper depending on certain regions but it will always be cheaper that time of year.
@ brotha car sales in general is in the tank. I have been to several talking to sales guys and it’s bad . Not even debatable. Many have had to go find salary jobs . Some are still doing well but most are not. The interest rates will not come down enough to matter over the next 12 months . Look at the massive layoffs by several of the major car manufacturers and the layoffs keep rolling in daily with more to come . You can’t compare this to anything in the past . High prices and inflation is never been this bad. The amount of price reduction and multiple dealers giving 10 percent off msrp on new orders speaks for itself . Also the amount of c8 on the road is very high and that will play a roll as this car continues to sale 5 years after it was introduced. So in 3 years an updated newer model c8 will likely be released . That will drive the prices down even more . As z06 prices fall that will also have an effect . Bottom line if you are trying to get top dollar you better sale it now but it likely want sale at the price you want . I have several saved cars from auto trader and car gurus . Many have been on the lot for over two months now . Sorry but the prices will continue to fall to about an average of 5k less than the current used c8 market value . 5 k ain’t nothing anyways lol I don’t see them going below the 5 k mark until the updated c8 is released in a few years . Sorry man it’s a buyers market and I am here for it!! So regardless they will still sale ok on the used market because the prices are falling towards that 5 k off mark i mentioned
I would like to know how you came up with that number, I disagree on three levels and I'll tell you why. 1. This car changed the brand name of the car and made Corvette the most desired vehicle for ownership. It was car of the year 2 years in a row, the #1 selling car in America 3 model years in a row and had a waiting list for ownership for 4 model years. At 150k cars produced which is unheard of for a sports car and should've been the max number of cars EVER produced, they were still getting people to pay over MSRP to own one. 2. As a midengined sports/super car it's better than the Audi R8 V8 in every aspect which people felt was the best bargain/entry level supercar. For what the C8 is, in my opinion the performance it gives says it should've started around $70k-$80k which many thought it would. Honestly that's why it was so easy for dealers to charge $15k-$20k in markups when it came out and was selling out quicker than they could produce one. If we did a real world market comparison the purchase price of the car would average over $75k. I feel the $69,995 starting price today should've been the minimum starting price in 2020. 3. The mass production of this car in my opinion is what killed the value; but what else can you really buy that provides the same status, reliability and performance? It took making over 177K cars for them to introduce rebates to help sell it. There hasn't been another car in the world with this type of production volume and still have people waiting to become an owner. For that reason alone I would say it's worth $60k and if you want to be real about it, GM raised the price to $69,995 5 model years later and people are happily bragging about getting $5k-$10k off to buy one new for the same money it sold for when it came out.... so I guess truthfully it's a $60k car.
Brother I own 2024 was order I paid $92000 I love it. I enjoy it. I don’t care where the price go just enjoy it
I really can’t wait to get my own! I envy you sir! I’m 28 but in 2 years I’ll be able to get my own. I’m leaning towards the AWD hybrid!
Ain't no way no body gonna pay that much for a car just to watch it loose all it's value, the only people that says stupid stuff like that are people that don't have one and can't afford one!
@ I did, I over paid for my telluride but I love it
They are bad ass and they look better then a Lamborghini Ferrari or buggati and way more reliable. The new vett is stunning
@Grumpyskater the E-ray would be a great option and you get more performance out the base model engine. After seeing some base 3LTs cross into the $100k MSRP range buying the E-ray becomes more appealing, especially with what you are getting standard on the E-ray.
I ordered my 23 Stingray in September of 22 for 10k above MSRP. I knew those numbers would go down in a year or so, but I got what I wanted built to order in three months total, cheaper than the markups on used ones then. I’m never planning on selling it and I put 10,000 miles on it in year one ( 1 mile for each $1 of markup) The fun and memories I made with my son is what I wanted.
I love that!!! At the end of the day it's your money and your life, live it to your desires because it's really all about the experiences and memories you make. One day you will be gone and no matter how much you have saved up won't matter anyways
Ordered my ‘24 c8 like I wanted it also, at MSRP but I did have to wait 10 months. 7k miles on mine & I don’t plan on selling, MAYBE for a z06
All Corvettes drop in value, then stablize, then eventually climb in value! Just enjoy ownership. One of the few cars that are safe investments at any model year.
So true
Wrong.
Kinda sorta if it’s a 5 thousand mile garage queen, even then not really, I own a c6 z06 I bought new, which is a garage queen it has just under 11k on it and I’m still gonna lose around 30k, I paid 85/90 with the loan, I’ll be lucky to get 60, very lucky
@@DanielBenzs65AMG I bought a 2001 C5 for $52,000. I dare anyone to be able to sell one for that price or higher, so I agree with you that Corvettes that are made in large numbers will likely never rise enough in value to be profitable to an original owner.
I had so many issues with my 01 that I am done with Corvettes. The number of electronic boards in them mean that at some point, replacements will not be available.
@ my z06 just collects dust, once I picked up an 07 s65 on a whim I decided to park it and sell later, most likely for a newer s65 so I haven’t had any issues at all with the corvette and shouldn’t since ill rarely drive it again other than up my driveway just to let it run every month or so and not get flat spots in the tires, that’s my first corvette ever so I have nearly zero experience other than the 11k in mileage I put on the z06, the s65 has been extremely pricy to maintain and sort out but I’m close and I love it, but ill always love gm, just got into Mercedes later in life, I expect to get 55-60 tops for the vette, no complaints there, I don’t see cars as investments
crazy how many people here pay for markups and find a way to justify it.
This is an interesting topic because people can only see through their own eyes, how I try to look at it is people pay for what they want and the only justification is they can afford to spend what they did; while others have commitments or views and chose not to. Its like going to the airport and choosing not to eat or get drinks. No one that goes to the airport doesn't understand the food and drinks will be sold at a huge premium. Some people sit down eat full meals and have several drinks, others may be more price conscious and just by a snack and drink; while some will wait until they not at the airport to get food and drinks. Everyone has a philosophy on why the spend the way they do and regardless of which spender they are there's no wrong answer. The problem is people who couldn't afford the premium pricing want to make their decision to wait and get a lower price the best purchase decision that could've been made.
i own a 2021 c8 and had a oil leak around the transmission , the dealer had to remove transmission to repair and the bill was $18,000 to replace a 15 dollar seal, what a ripoff
Hope that was covered under warranty…
I'm sorry to hear that, but that's also extreme! Unless you did some modifications to the engine or tans the power train warranty should've covered that since it's 5 years 60k miles. Did you shop around? There are dealers doing engine replacements for less and body repair shops replacing transmissions and doing body work on a cheaper bill. That doesn't make sense to me.... but I know myself I spend money for what I want but I shop around because I don't like to feel ripped off or exploited. Seems like they were taking advantage.
@SidLee-r5f If you peruse the the corvetteforum's C8 problems folder, you'll find many owners with transmission replacements. 2022 was an especially bad year for them. There are also many other quality and reliability issues listed, enough so that many potential buyers have backed off from buying a C8. I was one. I also backed off from buying a Lotus Emira for similar reasons.
$300 in labor and parts. The rest is all profit.
For the ones who bought this car to enjoy it the value dropping doesn’t mean anything
100% facts
Ordered a 2025 from MacMulkin custom, and they are doing 10% off. For my spec, that's nearly 10 grand under msrp. Crazy. Took it in a heartbeat!
Also, spec matters... I've seen gray and black ones sit on the lot for days, and torch red and red mist ones that are sold in 1-3 days after arriving. Can't forget about the desirability of the spec... and Vette buyers tend to be very particular.
I saw a 1LT base for under MSRP it is $7,000 less than MSRP at cioco
Could you please share a few more details about your build & who your salesman was? I'm ready to order!
@ARZiehm that's amazing because everyone isn't getting that deal. I understand why they are advertising it and what they are giving up to make most of those deals. But the discounts aren't adding up to 10% off and their own disclaimer says some rebates are being applied which you may not qualify for like recent college grad, military, competitors ownership etc. The issue with this is they are making this deal to get money on the back end. They can't sell all C8s and only 1k-1200 people will be able to take advantage of it. If you get the deal it doesn't matter to you what everyone else is paying, but in the grand scheme of things one dealer discounting cars heavily doesn't change the market when 40k cars are being sold and over 37k of them aren't being sold the same way.
@@ICNVDE From the contract I have with them, it's just a flat 10% off - no rebates/discounts, etc. Seemed like a temporary thing as it ended at the end of Oct. I got lucky pulling the trigger when I did for sure though. For comparison, my local dealer was only willing/able to do $1500 off msrp.
Just seems like MM sells a lot of vettes and the margins don't matter much when their volume is that high. Definitely not the same for most dealers! Agreed with you overall though.
I agree with you. Prices ebb and flow with the market, so be careful to think something is true without all the facts.
I bought my 23 stingray htc Z51 for sticker. Know it’s value has come down. But I am still happy I bought it.
That's all that matters and truthfully if you keep the car like 40% of the owners will the current market value doesn't really matter until you are looking to sell.
I went to wendys for lunch yesterday. The spicy chicken sandwich was $7.99. I paid $5.39
lol... great deal!!!
LOL. Dealer markups do not increase the 'value'. I see C8s everywhere. But its rare to see those beautiful C7 Grand Sports and Z06s.
You are right, but dealers can only get markup pricing when the value of the car matches the increase. Everyone sees value differently, but the truth of the matter is it's what you pay for it. People say the value of the C8 has fallen but the average purchase price of a c8 today is $85k plus TTL, and a new 2LT is the common 2024 C8 sold for $83k plus TTL after discounts. I only mention this because $1350 for 84 mos is what a large amount of corvette owners are willing to disclose for payments. But $1608 at 72 mos is what good credit is pulling with 8.74%.... either way people are willing to pay over $30k to own one. While the C7 was the only corvette option they struggled to sell Z06s for $82k and convince people to pay $1250 for 72 mos...or $90k overall for a car.
What's remarkable is.... like you said the C7 grand sports and Z06s are becoming rare today and are selling between $47k-$78k but the average payments for a C7 Z06 still add up to $10k-$15k over the sale price which is still under $85k. When you look at it the cars still aren't seen by potential owners as worth more than $90k even with the crazy interest rates.
Right now online they are giving 5-8K under MSRP
I see that but you also need to pay attention, some of that pricing or discounts you can't get to and some dealers are using 2025 MSRP pricing to show a discount advantage in purchasing a 2024 with a rebate. The New Corvette sales game is dirty.
Soooo glad I traded my 2022 2Lt HTC after having 6 months of fun with it. I saw this coming then. I just went to the Chevy site and 2024's new are a minimum $10k off MSRP. There are 1572 available for sale NEW within 2k miles of New York. People may not be trading them because they are buried in them. And it is 2025 in 3 weeks, saturated market.
If you don't plan to truly own a car that's always the goal, to enjoy it before you lose big on it. If you don't mind me asking what was your ownership plan for the car? You had a 2022 with a 2 year payment head start vs the current market, you wouldn't have been buried in the car. You probably had a better interest rate than what's being offered today.
Buying a 2020-2022 car wasn't a bad purchase if you bought it before Oct of 2022. Being buried in the car isn't why many people aren't trading them; they aren't trading them because you can't replace it with anything else at a reasonable price. The cars have $10k discounts and 8% - 10.5% interest rates. People are paying the same amount in car notes compared to 2020-2022 purchases.
Also most true Corvette owners and buyers, buy their corvette with the intent to own it for 3-5 years and not put heavy miles on them. It's not about them making money off the car it's about the ownership experience, the brotherhood and having a car that respected in the Corvette Community. Many new to the brand owners focus on the value and not the culture.... Corvette loyalist focus on the events, the brotherhood and unity it brings to their community, the Corvette is more than just a car, to some it's a lifestyle.
@@ICNVDE I bought it in Feb 2023 3k miles. So, I got the used car discount and paid cash. The car was ceramic coated, Vossen wheels, full Z-51 package. It was great, my plan was drive it for the summer and trade it in Aug 2023 to recoup most of my costs. That is when the C-8's started dropping in value. No offense but I could care less about the so-called culture. I ride a 2021 Harley Ultra Limited and do not own one piece of clothing or gear with any HD insignia. Just not my thing. The video title refers to how bad are C-8 prices now. My opinion is Bad.
Just be glad you are not paying $325k for a Mustang GTD with only 800 HP! Can you imagine trying to DUMP ONE of those for $200k in 2 years!
Ford is on crack. Mustangs are nice, but GTD is overpriced even if you can afford it.
I still like the 550 Premium.
Collectors will buy that just like Ford gt.
I'm not ready for that headache yet but I think it will be a collectors car 5 to 10yrs down the road.
I just bought a 2025, from Rick Conti. He just started offering 10% off MSRP, on all remaining 2024's... and HUGE discounts below MSRP, on 2025 Models, including Custom Orders! I called the Top Five dealers... and they are dealing to get rid of 2024's and just a little bit on in-stock 2025's, but they don't want to bother too much, with a custom order! It's time to buy a NEW $90k C8, for $81k!!!
I will say this again, New car dealers are not going to loose money on a new corvette sell. Many of the dealers don't have a new 2024 new car inventory so the 10% off is just a ploy to get people in to buy a 2025. The are willing to move some on 2025 pricing because they trying to sell a car and they know you will be hard pressed to find a 2024 for the 10% discount. If you looking to get that $90k for $81 deal you will work for it, because you have to find a dealer still sitting on one after discounting the car since AUG of 2024. No one is really giving any big discounts on 24 Z06s and even searching the internet there are just over 200 left and majority are still requesting MSRP. The ones with discounts are showing $3k or less on average with a few $5k discounts here and there. What I believe you are about to see is a cut back on base C8 production an increase on E-ray and Z06 production which will make it harder to get a new base C8 and allow them to meet the demand for the other cars. Don't be surprised if 2025 production numbers don't exceed 30k, GM has a history of cutting production numbers towards the end of the generations run.
@@ICNVDE Well, my intention going in was to Custom Order (exactly the way I wanted it) a 2025. The top 4-dealers didn't even want to talk about a custom order 2025... all they wanted to talk about was a 2024, with a big discount. I called Rick Conti... and he said no problem, I'm sitting on current allocations for Blurple and Yeller... and I also have allocations for Habanero, both leather and sueded! I spec'd a 3LT custom trim... and the price was more than MSRP -$6k! So, my thought was why buy a Year Old, in-stock '24, that isn't the one that you want, for MSRP -$7k to -$10!
Not a limited car or anything special, of course the real market price of C8 will come down once the initial hoopla faded.
I don't know why so many people act like the are surprised it did or as if it wasn't suppose to happen. Maybe they just been waiting to say I told you so and believe that people who paid the higher money are upset with their decision.
They are not losing value at all. I am still seeing these what was supposed to be $58k cars in the upper $60k range used as the lowest prices.
Exactly what I've been saying
My opinion is that the C8's actual value hasn't "dropped", the ridiculous over pricing has finally been realed in. So I agree with you that the C8 is depreciating "on schedule". It's all those people that paid ridiculous amounts over MSRP that are up in arms about it. There is ZERO chance i would have paid over MSRP on that, or any other car! However, the C7 Z06 and ZR1 are holding strong, at least for manuals, due to the C8 only being available in scumomatic. I would have bought a C8 when i bought my 2019 Z06 of it had been available in manual.
I completely agree with the value not dropping but I'm not all the way with you on the over MSRP concept. Anything over $20k "in my opinion" was excessive but there has been some people that paid $30k over who's cars have depreciated very well with the market shift. Take a look at th-cam.com/video/sreRSC_Z2Ak/w-d-xo.html this video explains my stance on that topic. I believe people were cool with the $20k over they just misunderstood the market. I say that because many people are paying the same car notes payment wise today they would've paid with the $20k markups in 2021 to own a car. So was it really about the markup or a false sense of not being ripped off with the purchase? Why will people pay a high interest rate and accept that payment vs 0.9% with an additional $20k on top. $107k is $107K regardless of how you get there.
@@ICNVDE I wouldn't do either. I didn't get where I am today by overpaying for everything. My interest rate on my Z06 is already higher than I would like, but I told them I wasn't buying it at the rate the initially came back with.
@@puterg0d Understood, but let me ask one final question or present a different stance. Your interest rate isn't 0% correct? So would you still purchased your Z06 if the total of all your payments was the selling price for the car and they offered that for 0%?
My point is many people focus on a fake price for the car , the actual price of the car is what you are willing to pay overall for it. You stating your initial interest rate offer was something you refused to pay, that's no difference than saying I will not buy the car for $20k over I will only pay $15k over. You can still shop the markups like you do interest rates. What people need to understand is in both situations you have control, people lie to them selves and say they have no control over the interest rates. That's why they will take on a crazy payment for a lower costing car vs a higher priced car for a lower interest rate.
Both Ciocca and Macmulkin have over 100 C8's on their lots.
Yeah and they both are advertising huge discounts for 2024 models.
After GM flooded the market with C8s, how could the value NOT go down? And one look at all the issues that owners are experiencing (on the corvetteforum) will explain why many potential owners are holding back.
They are no longer highly desirable.
You are right GM did flood the market, but just being honest with you the value isn't really going down like you think. On the used market they selling $6k ($54K) less than what they costed brand new in 2020 ($60k). It took 177k cars built for them to offer a rebate to help sell one. We are 5 model years in and people are excited to get $5k-$10k off to still pay more for the same car today than it MSRP'd for 3 model years ago. That's marketing at its best!!! The ownership issues are not something I would wish on any one but every car built regardless of what it is has some issues and the C8 is not exempt from that trend. Despite what you see in the forums that's still only a small percent compared to the volume of cars on the street... there are over 182k corvettes made and 96% are registered to an owner. Plus there is still an entire market waiting for used cars to drop in value another $10k to become an owner... they are still highly desired, the only reason you would think they aren't is you not actually out in the car community and talking to the people still trying to get their hands on one.
@ICNVDE Consumer Reports magazine acquires more owner-supplied data regarding reliability and quality that any other magazine. The C8 Corvette is ranked third among 2-seat sportscars, behind the Porsche 718 and the Toyota Supra 3.0. Both of those cars have been more reliable than the C8. So no, not all cars have as many problems as do C8s.
@@davepaturno4290 You're correct but a lot of the issues they found in there, reports came down to paint imperfections, some trim issues and body or interior misalignments. There are mechanical and electrical problems out there but more complaints about cosmetics and nonmechanical issues.
@ICNVDE I did see more than a few about the convertible top mechanism seizing, headlight covers leaking, porosity -inducing transmission cases, and leaking gaskets.
But wait when I paid $50k ADM (for 2023 C8 base) the salesman told me "it's like money in the bank" hahahahahahahahaha
LOL, when did we start trusting salesmen for financial advise? Hopefully no one committed to that in 2023, but yes there were some Z06 owners that did buy at that pricing.... many abandon ship when the prices started falling and were able to only loose $10-$15k, but honestly if you plan to keep the car and the payment fits in your budget sometimes you have to just enjoy the car you own. Trying to get out and start over may cost you to lose big.
My 1st 2024 C8 2LT Z51 was an MSRP order, my second 2024 3LT Z51 Vert was with a decent discount.
Did you keep the first car? How much of a discount did you get?
@ICNVDE 1st C8 was a total loss. Truck blew a stop sign. T-boned it. 😵
Around 7% off.
@@killerjhul Sorry to hear that and I'm glad you are ok!!! Maybe it worked out for the best... Enjoy your ownership and drive the car, to many people get it but never really drive it and enjoy what it has to offer. It's the perfect quick out of town get away car and being behind the wheel on the open road is priceless.
@ICNVDE I am trying to drive it every day! 🤣 it's tough as winter settles in New England. Trying to break 500 miles before year end. Half way there now.
Just bought a 21 low mile z51 3lt. 94k sticker and i paid 66k. Kbb had it at 74k.
Congrats on your purchase, enjoy the car and DRIVE IT you won't be disappointed
Just bought a 2024 2LT from Ciocca for $10,200 under MSRP. Very Happy.
Here's what I've seen thus far, the advertisement say 10% for 2024 models, but the deadline was 9/30/2024. They are still giving discounts on the car but they not equaling 10% and they have actually expressed the 10% is over, but they still are willing to offer discounts on the 24 models to get them gone. They are not offering huge discounts on the 25 models but you may be able to get something if you are persistent.
I just bought a ‘23 LT 1 with Z51 and 2k in additional options - 5500 miles for 66k which is 9k under the sticker …. 20 months left on FW…. I think it was a good deal …. I’ve been searching nationwide since 1/24…. Dealers are still living in 2021 and 2022 with their pricing ..
Not a bad purchase, and depending on which side of the coin you are on with the dealer pricing can shape the way you view the market. If you looking to unload your car the aggressive dealer pricing makes it easier for you to do so and get some money from your sell. If you looking to buy, it makes you realize you waited for nothing and could've purchased the car for similar pricing quite some time ago and been enjoying the car for some years.
The market will dip again next season and for the people who don't mind owning 20k mile 20-22 cars they will believe they made the smart decision by waiting. Truthfully the difference in $10k-$15k in a selling price on a car with twice the miles over 2 years isn't really a deal, but that's my POV. I'd rather have the ownership experience earlier in life.
Market is stable?? WRONG! I have a friend that bought a 2025 Z06- Z07 package for $12,000 BELOW MSRP! If you are thinking about selling your odd colored bronze car, you should do it NOW!!
If your friend bought an 2025 Z06 with Z07 for $12k below MSRP, congrats for him!!! People are struggling to get deals on the remaining 2024 Z06s on the market today. Also NO NEW CAR DEALER IS TAKING A LOSS ON A NEW CORVETTE SELL, I don't know one C8 Z06 that has $12k worth of profit in it. They can sit on a 2025 for a year and still not take a loss, because if GM makes a car they can't sell GM will offer incentives to help them move it. If GM is not offering rebates on a 2024 Z06 or base 2025 model corvettes why would there be a reason to discount the 2025 that much? I hate to tell you your friend lied to you or you're lying right here to get your 5 mins of fame. It doesn't matter what the selling price of the car says as long as the numbers add up to pay off the vehicle make sense before the OTD numbers. For instance if your trade is worth 10k but i give you 6k and you agree I can knock up to 4k off my selling price to make a deal. If i charge a $2k corvette prep fee i can discount the car up to another $2k to make a deal. It doesn't matter how the numbers are applied as long as they are there.
Here's a little background on me, I actually sold cars before to include new Corvettes and still have friends in the car business that do. So i know how Corvette sells work and 95% of the dealer tricks to make money. I was an assistant used car manager before I walked away and I took pride in learning how to be a great used car appraiser. The biggest aspect of being a car appraiser is projecting what the market will do 90 days in advance. The other factor is knowing how to construct a deal and how to generate floor traffic.
@ICNVDE You should do some market research! Many dealers are offering a 10% discount on new Corvettes. His Z06 had an MSRP of $177,000. $12,000 is no where near 10% on this car. No trade. He bought it from a dealer in California. He did have to pay $1,200 shipping. He shopped for 3 months until he found this car. He did not want white with tension blue interior, but it was the best deal in the USA.
Trade your Brown Brick for that Porsche. It's value is falling like a stone.
Your personal Vette looks really good, especially with those wheels and that spec. Why are you looking to move it?
I've had the car just under 4 years, it's a fun drive but I'm positioning myself to make a huge purchase within the next 18 mos. I'm looking to get something more exotic and rare for my area.
@@ICNVDE love your rare car color but gotta have shiny black rims on it
It placed the price too high in the first place! Back to reality now!
That typically happens with every model when it's first released but after 6-8 months the market starts to correct it's self. The C8 was able to hold those crazy values for a few years which made the extras not hurt so bad.
I owned a 2001 cash on the hood. I only buy a car with cash. I'd like a C8, but it's not a manual. I'm looking for a Cadillac Blackwing manual. Some C8's are still selling for +$100K. Why not get the same car that's larger and a supercar also.
I understand that type of thinking as well, i often go back and forth myself. i think you can't go wrong with either purchase but it two different personality vehicles so get the one that best matches yours.
And who is surprised? All higher-end performance vehicles take a huge hit during the first 5-8 years. Corvette folks are just noticing it more because vettes have always been different since they have never really been into the budget supercar class until the C8. The M8 competition and the E & GT63 AMG S cars all lose between 40-50% of their initial sticker price during the first 5 or so years. This is because a majority of the folks who buy them are buying a new vehicle every 2-3 years because they would NEVER be caught dead in a "used car". The price on these cars stabilizes at that point and usually slowly climbs again, especially if the car has the rarer options, or the maker stops production. Look at the Mercedes S65 coupe. You could buy them used all day for actually less than what you had to pay for a S63 coupe, then Mercedes announced they would no longer be making the V12 car and overnight S65 pricing jumped back into the 6 figure range for a 3-4 year old coupe. Corvette owners have never really fallen into the same class of buyer as those of many of the other high-end posh type cars. They have always been more motorsports addicts who are in love with the mystic surrounding the Corvette and very few seem to buy the vette as an investment as most of us plan on keeping ours forever, or until we upgrade to the next one.
I do not disagree with you, I believe the over production of this car has really hurt what could've been a legendary run on value for the C8. if Gm would've stuck to their prediction of 125k-150k total cars built including all versions, the C8 would've been legendary for value, it took 170k cars being built to get the first rebate.
What I believe is there are so many new owners to the brand and since this is an entry level supercar platform many working class and lower income people thought they were buying a true supercar that would maintain value, not really understanding most heavily produced supercars loose value as well because they still sell in a $180k price range. I love your S65 coupe comparison because I really want to get my hands on one and there is really never more than 10 for sell nationwide at one time. So availability keeps the pricing high but it's still heavily discounted compared to what you could originally buy one for.
If the goal is to get a car and drive it while maintaining some nice equity in the car, you have to look at something 3-4 years old with low production number and expect to pay some slightly unreasonable preventive maintenance cost. It typically works out well as long as that car isn't a Maserati Grandturismo
I worked with a guy and he asked me if I wanted to come over and look at his Corvette he just bought. So I go over and see a bunch of parts on a pallet 😱 I said what’s so special about that 🤔 he said it’s vin number is no. 1 off the line for that years Corvette 😱 he told me a couple days later a Guy from Chicago came up with a box full of money 💴 and bought it 😱
He lied to you, so you shouldn't trust the guys you work with. VIN no1 for corvettes and Camaro's have been bought by Rick Hendrick's and the few models he doesn't own haven't switched ownership in over 10 years. VIN no1 for the corvettes never get driven and are worth well into six figures. He's tried to buy the ones he doesn't own for over $350k each and the owners wouldn't part ways with the cars. He paid over $1 million for VIN no 1 of the 2023 C8 Z06 and Vows to own VIN No1 for the C8 ZR1.
@ this happened in the 80’s
This latest C8 Vette is okay. However, IMO, it just does not look like a Vette without the big front engine with the long hood? I like the C6s and the C7s better. I even miss the pop-up headlights from the C3s. In addition, why Automatic Transmissions?? If you are going to make a Sports Car like this, then all Models should come Standard with either a 7 or 8-Speed Manual Transmission. I am a Vette old-schooler and a traditionalist who thinks that GM needs to stop trying to design cars like the Europeans and stick to American Tradition.
You're not the first person I've heard say that, but how do you say it does not look like a real corvette? I ask people that because there were 2 corvettes before the C3, Zora designed a mid engine corvette in the 70s he wanted to release in the late 70's or 80s. Most people that make that statement don't care for the C1 or C2 as well. The C3 Corvette was a design made to look more European and change the focus to more performance. If you really look at all the corvettes from the C3 forward they've all had a European connection to their look so saying the C8 isn't sticking to the tradition is in accurate because that's exactly what they're doing.
Not making a stick shift was a controversial decision but being truthful adding a stick shift would actually limit the performance and technology of the C8 if they chose to go that route. The stick shift is out dated and limits performance, why do you think all the other supercars have moved away from them and went to dual clutches? If Chevy would've made a stick shift they would've just created a problem, although there are several stick shift junkies out there who would buy one. It would be an inferior car to the automatics which would out perform it in every aspect. The sales that are already low would be dramatically less, you would have a community of stick shift owners asking why their car doesn't match up with the performance of the automatics and it would be Chevy saying to the world we can't make a true supercar for an affordable price wo we came up with this gimmick.
The C8 is what it was meant to be, the best engineering marvel by Chevy engineers and the corvette that was built to bring respect to the Corvette badge. The C8 has now put the Corvette name on the world stage and dominated all conversations about performance and car sells. No other Corvette could've sold 200k cars, all I say is stop trying to make an argument of why you hate it and embrace why it's the best corvette ever built.
@ICNVDE I know that Automatics outperform Manuals, but, I still like Manuals (Stick Shifts) better. I would buy a good used C7 with a Manual before I would buy C8. I do not care about the Technological Goodies that come with the C8. Despite your statements about the C8, in my mind, it still does not look like a Corvette because of the Mid-Engine Design.
Thanks for the Reply.
@@kevinsmith8003 I can't fault you for what you like and knowing what you want. There aren't that many true die hard manual owners out there, I believe true manual owners are a dying breed. We are living in a world today where it's all about the next technological advance and doing more with less physical effort. Actually being engaged with the car while getting the performance out of it isn't something many new owners to the Corvette brand because of the C8 will ever understand. I hope you get the car that will give that driving experience to you, the C7 Z06 or ZR1 nay be that animal you looking for... lets face it no matter how amazing one person sees something it may bee the worst option to another... but in the end it's all about finding what makes you happy and that's all I ever want any one to do, so find that car that does it for you and share it with us!!!!
These c8's are everywhere. All over northern Virginia at least. I'm not surprised to hear of the value drop.
Yeah, they are turning up more frequently this year
these cars are dropping faster then a Rolex 😅
lol no lies there
Bro it would be cool if u explore the c8 market in your vids
i do from time to time, more so leading into car season. When I get some time I'll make another one before the year ends.
gd channel gd info thx New Sub !!! I have a c7 and might purchase a c8 but there prices are all over the place !
Thanks for the sub! The prices have been like this for the past 4 years hopefully we seem some stability soon.
My Uncle has friend that always buys a new Corvette every other year , he takes them to Road America and pounds them !
That's amazing and I know several owners that go to road america each year and test their driving skills with their cars I haven't driven at road america but I have been on 2 other tracks and it's a fun experience.
Great information.You know the true market.I think it will be slow drop in price. God bless.
Thanks for watching and thanks for your comment.
Statistics show the C8 series cars brought in new buyers demographics that were never in the Corvette market. That alone says the price wont drop like you think it will. The BMW 3series crowd is gone as well as the JDM crowd, but the EV crowd is growing. That leaves the C8 crowd of buyers in a very unique position never before seen in Corvette history. Dont think that the future will see this particular series relegated to CHEAP status anytime soon.
Yes the C8 has brought in new buyers to the market place but you also have to understand it will be the first sports car to ever have over a 200,000 models built. It's slowly drifting into the realm of to many cars for the market and that's why rebates were released. If they continue to push out more than 20k units a year it will become just like every other Corvette built before. I thought they would deliberately not make more than 150k cars total to keep some value with it but it looks like making every dime you can became the strategy.
I got burned on what I thought was a great deal. I bought a 6 month old slightly used loaded 2023 C8 at $12K below list. The seller had paid $10K over list. I thought it was depreciation-proof for a year or two. I tried to sell it 6 months later after $6K for full paint protection. The market was already collapsing. The best I could get was another $10K below what I paid. All-in-all, I think it cost me $20K to drive it for 6 months, the same as the first owner lost for his 6 months of fun. It's not just the Corvette. The whole car market, which got over-inflated, is ina free-fall.
You were correct unless you paid cash, if you would've kept the car and paid the car note for 2 years the payments would've balanced out. The $6k full paint protection is a long term investment, if you didn't plan to keep the car long term i wouldn't have invested that money. The market is crazy but the cars are typically selling $12k-$15k below list today that number will get smaller when the spring comes around.... right now is a bad time to get the most for your trade but its the right time to get a great deal on a replacement. All sports car selling prices are down, and you can negotiate the value of your trade... dealers are low balling on trade values right now and begging to move cars. This is typically why I get my sports cars this time of year, you can't beat the deals.
My area is flooded with vetts at the car lots. sitting for over 60days 😬
It's not surprising because most summer car drivers buy in Feb and sell in Aug. When you look at sports cars as a toy and not a purchase you can buy (rent) a car in Feb and sell in Aug and typically if its used and you keep the miles under 3500 from the purchase. You will loose the taxes and maybe $2k dollars. Many people will spend that to drive a nice sports car each summer. With more C8s flooding the used market under 5k miles, if you don't plan to keep it; why would you buy a new one? Look at it on a bigger scale, you own the car for 8 mos and it cost you $8k dollars. Renting one from a rental car company is over a $100 a day.
Proof please. Where is this. Average days on market is nowhere near that for new C8.
@jamesh1641 there is no proof.
So no one should have bought a C8 Corvette for the last 4 years until the prices came down?😂
That's the message the people seem to be delivering.... obviously I didn't agree with that
Corvettes have never held their value.........this is nothing new. Buying a new car, especially a new Corvette is a good way to make your bank account evaporate. When it comes to Chevies, Camaros hold their value a lot better than Corvettes, but any car you buy brand new loses a fifth of it's value when you drive it off the lot. If you want to buy a
performance car and holding it's value is very important to you.....Shelby Mustangs and Hellcat Dodges are a better choice.
C6 hold 50% msrp 20 years later
@winstonmccollum8992 I agree with you except for the Hellcat dodges, but compared to a base C8 they are doing better.
It's the economy. The Corvette is amazing. Still think the C6 is awesome. I saw the C7
in a neon yellow with some graphics and I wanted it. The thing about the Corvette generations is that no matter what year you buy, they all look good. I like the mid engine,
I don't need a ZR1, I would like a ZR1, but if I could get a ZO6, I would be so happy.
Love the cars in your video. Keep it going.
Thanks!!! You are 100% correct but what happens is there has been an influx of new buyers to the corvette market who only came for the midengined plat form. They are use to markets with less activity and lies so they are to invested in making the right financial decision vs owning a car they truly love to drive.
You right.
Economics 101.
Supply and demand.
Chevrolet put a Corvette emblem on it. Chevrolet wrote Corvette on the Window sticker.
Chevrolet determines what is or is not a Vette. Why are ppl so stupid?😊
LOL, I think we have drifted into a space where logic is not the right answer and how people feel is prioritized more. People who have nothing to do with the creation process feel lie the have the most to say about how it should be.
Enjoy it and drive it car the do depreciation 🎉
EXACTLY
Nicely done video. There are dealers out there On east coast selling new vettes at $6-10k under MSRP. My buddy just got a 2LT 2025 convertible at $8000 off MSRP
Where ? Send me the info and I will buy one at the end of the month for that price
@MattChristensen-zy2yr What people advertise and what people can actually buy is two different things. Since GM introduced rebates, selling a car with rebates and at invoice would make it possible to get to close to $8k so it could happen. getting to $10k off would take all the starts aligning but my point is no dealership is selling the C8 for a loss and they advertise these prices applying discounts everyone can't qualify for. I will never tell anyone what they paid for a car but I also know the top line can say anything it's how the numbers are applied getting to the OTD price that matter.
I dont care about the value i love it and not planning on selling it
That's what I'm talking about!!!
Nice ride. Enjoy it and stop worrying about depreciation, etc. Your car is already considered "high mileage" and not particularly collectable. At the end of the day it's still a mass-produced Detroit vehicle. Expecting it to retain its original value is just plain silly.
Thanks, I truly loved the car and it was never about a collectable for me. I bought it to drive it to my hearts content. The funny thing about being in the car community is you realize people try to evaluate things at the wrong time. For a corvette to be a collectable you need VIN 1-50, something extremely rare about it and in most cases 10 years for recognition, 20 for acknowledgement of the rare models, 30 for inclusion of that generation and 40 plus for miles to not really matter. I never planned to own my car 10 years, but if I bought another car today and made my corvette a Sunday driver going forward; in 2030 my car's value would separate itself from the pack and be higher than a normal C8. By 2040 it would be significantly valued more than a normal C8 and after 2050 it would be in its own category and miles would never make it lower than a general C8....
I'm truly a car enthusiast and watch these things across brands, from my father parking his 82 Coupe Deville and 84 Monte Carlo SS in 1999, he paid under $5k for each car in the early 90s to selling the SS after sitting in the garage for 8 years in 2007 for $16k with 72k miles and people offering $20k for the Coupe Deville Today and it hasn't been driven since 2001 with 51k miles. It all depends on WHEN you sell it. I started looking at the value now because I'm about to sell mine soon and people always ask how's it holding up because they felt i should've waited to buy one. I still can't understand why people want to tell other people how and when to spend they money.
People that wanted the early models paid a premium, nothing unusual about that. Now 2024 & 2025 models are in dealer showrooms and selling at MSRP or slightly below. The C8 is still a bargain compared to other mid engine super cars and probably one of the very best designs GM has ever released. Your personal car looks fantastic.
Thanks!!! I agree there was nothing unusual about people paying a premium to get the earlier model. I feel because that premium lasted so long many buyers who wait for huge discounts got offended and now today since those discounts are starting to become available they want t o justify their decisions to wait by saying "I told you so" and they were right.
I may buy one if it drops to 45 -50 same as Hellcat
I can understand that logic, there are a few out there now for $54k-$60k I'm sure if you wait a year that $50k will be in reach.
Cars are not an investment. There are a couple Ferraris that appreciate but that’s not 99.9% of the market. I bought a 2023 C8 with 8k miles for 67k, I justified it in my head that it couldn’t depreciate that much, but it will depreciate. I will sell it with 10k more miles in 5 years and I hope I get 55k. It’s just cars.
That's a good way to approach it but I would hope you put more than 2k miles a year on this car over the next 5 years... its truly a fun drive and an amazing road trip car
@@ICNVDE Agreed, it's not for lack of trying...I just don't drive it to work cause of the parking situation. So, weekend drives only. In a few years, the extended warranty will be up and I'll trade in again for another fun weekend driver.
@@jerryholtorf253 Understood!!!
Just bought an eray it's sick as hell
I can only imagine, the base C8 low end performance was exciting, to increase that with the E-ray.... ENJOY IT!!!!!
lol I still have the voicemail from a dealer salesman telling the dealer fee is only 25000! lol I bought a c63s.
lol, congrats on that C63s it's a fun drive as well
@@ICNVDE appreciate it! It’s a real cabriolet my whole family can go for a drive
Have a 22 2LT HTC with performance exhaust, front lift, low wing, and upgraded wheels. It was $86k + tax. It’s one of the best cars I’ve ever owned and worth the money. If you are thinking about getting one, just do it. You won’t regret it.
That's what i tell everyone, especially if you can get it at MSRP or with a rebate now. Stop worrying about the resale on day one buy the car because you want the experience it brings.
The cope is strong in here. There are people 30,40 and 50K upside down thinking it’s cool because it’s a C8. I want one but I’m waiting because there are some really good values out there. Seen some Zs with about 6-8K miles 2LZ package for 120K. There was a time that you couldn’t touch a Z 1LZ for less than 140K on a good day. Give it another 12 months and you’ll see them between 90-100K. Now that the market is going to make a hard correction, deals are going to be abound. Enjoy your cars but stop acting that being 30K upside down on a car is a cool thing.
I don't think anyone has made the statement that being 30, 40 and 50k upside down is a cool thing. Being quite honest with you, most but not all the people that made the decision to pay $100k over for a Z06 had money to play with and probably dumped it once they got $20k-$25k upside down.
To many people make the false assumption that when a Car starts to tank you say oh no and stay buried in it. You don't finance cars selling $100k over sticker, you put an absurd amount of cash down and when your car starts to trend downward you trade that car in or sell it out right and get out.
But incase you did take out a loan on the car, when you cross the $150k range most cars are financed for 10 to 15 years. It makes the car notes more manageable. You drive it for 4-5 years and move on into another vehicle that depreciates less. If you did take a 7 year loan the payments would be so high that you would knock off $32k to $37k of principle each year. You have to be committed to that payment for at least 3 years when you signed up and somewhere around the 20 payment mark you will be right side up.... the car will not depreciate faster than the equity payments of 3 years.
I can't deny your prediction of a Z for 90k to 100k in 12 months a base 2 year old car losing 10k in value isn't absurd, but the more equipped cars will depreciate slower. The reason you see so many cars discounted now is dealers ordered well equipped vehicles and everyone wasn't in the market for a Z06 north of $145k. But I don't see a 1LZ being less than $80k for another 32 months and i don't see GM producing cars that's not selling so they can take a loss. Now that dealers are discounting the cars to move them, production numbers will start to slow down. On the Zs and E-ray production may increase because they seem to be the cars people are targeting more. Good luck in your pursuit of a Z06
I bought a 22 HTC 3LT in May and it was 95% of the spec that I would’ve ordered new. Mines with low miles and I paid 14K under MSRP.
Congrats, way to find the deal that worked for you!!! The used car market is a great way to get a good deal on a car, but it's often hard to compare. No two used cars are the same and how we approached selling them. Every area and region has their trends, like White, Black, Red and silver cars sell better in Chicago with black being the top seller. So you will see more of those colors on the used market in our area. The other colors tend to be advertised for less even though it could be similarly equipped. Vehicle history plays a factor as well, the cars that got delivered with GM "I Owe Yous" tend to be valued less. Remember there was a stint when GM was delivering cars without working parts because of chip shortages with the promise to add them later. Even if the chips got added later dealers low ball the value on those cars as if the work wasn't installed correctly or an issue they need to repair. So a lot of those cars are listed for sell slightly lower than others. Doesn't mean its ab ad car just the resale will maybe lower when you go to move it. The same thing applies to cars with a lot of added on color deletes and over rides to get a desired spec and combination. The fluff money on the invoice is ignored when it comes to setting the value for the car. Did they show you the MSRP for the car or are you comparing it to today's MSRP?
@ they did show me the MSRP, in fact they gave me a copy of the window sticker.
I paid what the car was worth to me, and I've kept each of my cars for decades. I only care about prices when buying. The price of what I'd be selling to by the car is a bigger concern when buying.
That's the basic principle behind buying any car, but so many people today are concerned about the next owner...lol. I hear so many people talking about resale value it drives me crazy. So what you are saying is you bought the car for the status of saying you have it or had it at one point, but you wont actually enjoy or drive the car because you want to make sure you can get the most for it when you sell it. I don't really understand that logic but it's very common in the corvette community. I wish more buyers would buy it to enjoy it not to sit at car meets in front of it.
I just bought a 23 c8 lt2 with the z51 package and height adjustment with 5k miles for $67k in Cleveland
Congrats, enjoy that car and add your 5k to it!!!
The New Stingrays in San Antonio NORTHSIDE Chevrolet dealer are still 10k over Msrp. Ridiculous!
They aren't the only location, the internet is a great place for many people but there are still people out there that don't want to buy things over it and believe in buying from their local area. So there are people willing to pay that money just so they can get the car local.
I'm seen some dealers offering $10k discounts for the '24's. Now that we're coming up on the 5th year of the 8th generation it's historically typical that sales numbers will start dropping off. GM is no doubt feverishly working on the C9 design.
What's crazy is people get stuck on today, GM has been working on the C9 before the e-ray came out. Everyone likes to argue about what prototype car is on the street and where. Gm started working on the C8 back in 2016 they had working models with over 65k miles when they did Jay Leno's test drive of the C7 ZR1. When they were testing the C8 Z06 they had they had E-ray and ZR1 models in camo as well. People never understood why the engineers wouldn't rev the car.... that's why. You hear people always saying during the track test they hear different types of engine sounds, that's why. Prototypes and engineering on these cars start when they are dangling something else in your face.... They didn't come up with these designs and ideas just after they made the last version.... some people actually think they do.
Would I be making a mistake trading in a 2023 C8 Z51 70 th Anniversary Edition coupe with the optional duel ceramic stripe in White Pearl with GT2 seats 6900 miles owned one year so far it had 2800 miles when I picked it up . For a factory new C8 E Ray coupe in Hester Purple. ? It’s about $20 grand more avg concerned about depreciation value for both cars what do you suggest?
This is a good question and I struggle with getting a real feel for the E-ray Market. I look at the Acura NSX, the cars that are starting to have recharging issues are selling for a lot less than cars that aren't. Not saying they are bad but they won't recharge over 70-80% any more on the battery. So the electrical assist doesn't work as long as it did 8 years ago. Buying a NSX today you have to be concerned about that battery and hybrid system. The warranty on the hybrid battery is 10years but there is crazy regulations about the number of cells that have to be dead and a certain amount in a row for it to be enforced.
It's a similar concept with the E-ray and in my opinion replacing a battery will be costly down the line and new technology keeps coming out, so if you look at the old Hybrid Tahoe's and Escalade's from 2007 and 2008, replacing the batteries are expensive and technology has advanced so they not even using that same battery setup today and their isn't a conversion for those vehicles. So I believe evaluating the E-ray for a long term purchase will be hard and many of those cars may have the electrical assist aspect disconnected in 10-15 years down the line. The 70th will always have a unique market and corvette purest trying to own one. Historically anniversary editions typically stay $3k-$7K above the market value of the base cars. If you looking to just enjoy a car for the next 10 years or less get the E-ray it will blow you away. I don't believe the E-ray will make it to base C8 pricing in the future with depreciation but that $20k gap will probably be close to $10k in 5-7 years, so you have to ask yourself is the added performance worth the money. I believe the Z06 is a more solid purchase and will hold value better.
My wife told me to buy a Corvette just before she died.. And to enjoy it. My son said to buy a Shelby. More curb appeal, he said.. I bought the Shelby and I am glad I did
Sorry for your loss and I actually agree with your wife, if you looking for a car that you truly can enjoy the Corvette was it. The Shelby isn't a bad alternative but the ownership experience is completely different. Owning a corvette is so much more than just owning the car and when I try to explain it to people they never get it until they buy one, I made a video about it but people still couldn't relate.
My c8 was delivered 11/17/23 love the car got it for 2000 under msrp
Congrats and enjoy it, you closing in on the 1year anniversary... do you still love it?
I just keep paying cash for property. I take the rent money and pay my lease payments.
That's how I think as well, I look to create another stream or source of income to generate the revenue for the toys
Maaaan I figured your C8 would be valued more since it's a discontinued color. I have a 2019 GS....I'm on the fence with getting a C8 only because of the passenger seating being too cramped.
here's the thing, having a rare car only matters to a person looking to own something rare. I get appraisals from some locations higher than other because they know it's rare or they specialize in selling unique cars, they not afraid to hold the car a little longer to get top dollar. The locations that's just looking to move a unit group it with every other car, but it goes both ways.... I got an ultra rare S-coupe from a dealer that was selling it like just another Benz. When I moved it i got top dollar from a dealer that knew what it was. I'm not trying to find the right location to move it right now, I'm trying to find the best deal with it to own my next car.
I’ve been a Porsche guy for 25 years but when I heard the Z06 motor and the Chevy guy begged me to sell my 6 year old 911 gt3 I got into a new Z06/Z07 3LT and gave me cash on top of that. So I thought I was in for about 130,000. But I saw the values going down. New 23 and 24 Z06s like mine selling for $140,000 ( with $165,000 MSRP and no miles) so I got out and traded it on a Lamborghini. I think Chevy is building to many too fast. The Z06 is a super car but GM needs to tighten up some things. It tramlines. The CCB brakes are mushy and the DCT is lazy . That’s all programming. Once they get those fixed it’ll be a great car.
Jim you have had a journey with car ownership in a short time, but you also are what I consider a conscious buyer who makes the logical financial decision vs enjoyment of the car. Your actions/decisions were dead on and something I would've done if in the same situation. The only thing I will say is there is no such thing as a new 23 selling for under MSRP and despite what you may believe there aren't any New Z06s selling for 25K under MSRP. 85% of 23 Z06s were preorder cars and almost every non pre order cars sold over MSRP. Welcome to the average Joe/Corvette car market of smoke and mirrors. There are so many tricks dealers use to make people believe they can buy a car for huge discounts but they can't. The cheapest Z06 for sale today is a 2023 1LT with no options but an add on Lo Jack for $500 is $104,561 with 16k miles. The starting price for the 23 Z06 was $105,300 lets say under $107k with gas guzzler tax. So even with miles you aren't saving $5k.
Many dealers are advertising Z06 with huge discounts but they are using slightly more equipped vehicles with the 2025 pricing showing you are saving money by buying a 2024 Z06 with a $3k discount. The cars that show bigger discounts have discounts in the price you can't get and $995 dealer add on fees on top of the listed price. To many people look at the advertised price but not how they get to it. NO NEW CAR DEALER SELLS A NEW CAR FOR A LOSS the manufacture always steps in and takes the hit because they built a product that wouldn't sell. They will dealer trade the car to a different market before they take a loss. If you understand this then you know it's a game to get people in the door and get them focused on payments.
Never drove a Vette before , but I bet they handle nice , way beyond my wallet
They are nice cars to own, look at a C6 or C7 they are more down to earth in pricing and there is a handling difference between the C8 from those two but the power isn't to far off and both cars are still fun drives. They may be more wallet friendly.
If you can afford a new Hyundai you can afford a C6. I went with the C6!
@ my ride is 1994 Rusty Chevy pickup with 280,000 miles on it , if I had an extra 25K laying around I’d buy the Buell Super Cruiser motorcycle being released in 2025 , 185 hp , goes 180 mph , just over 400 lbs , and it’s a cruiser , I’m more into bikes , but not crotch rockets , and I haven’t had a loan payment in 33 years , and I don’t want one ! And snowmobiling is more fun , no speeding tickets , over 100 mph in a car don’t they yank your license and impound your car ?
Best gifts to humanity:
1) medical science
2) democracy
3) Corvettes
(Not specifically in that order lol)
lol.... I love that!
Should add capitalism to that list as there would be no Corvette without it.
Being "listed at that price" doesn't mean it sold or is selling for that price
You are 100% correct, but what you may not be aware of is before the Covid pandemic over 70% of cars sold for the advertised price, 7% sold for more than the advertised price and 22% sold for less than the advertised price. Since the pandemic to present times, the cars sold for less than the advertised price has went down to under 18% and the other 2 areas have seen increases. A lot of people don't argue prices anymore they are carmax conditioned. Plus many dealers have started adopting the no haggle pricing and they let the lender dictate their discounts. At the end of the day the advertised pricing you see on the internet is typically the competitive price for that area. If they advertise to high no one calls or comes to see the car, if it's to low it sells within 2 weeks.
It's a good reference point because dealers are going to always make offers to buy cars based off what they expect to sell them for within 60 days. Most dealers will discount the car $2k over two months and they want to make a minimum of $2.5k in profit so they will typically offer you $5-$6k less than what they plan to sell it for plus repair costs. If you understand the market in your area, you can get the best deals. The reason I started buying cars from other states was I made money on cars keeping them less than a year and selling them in my local market.
Your mistake is using dollars and not percentages.
@@jimbeam4111 I don't believe that was a mistake because when GM issue rebates they give a specific dollar amount not a percent, when people negotiate price they work in dollars not percent, when you look at out of pocket cost you look at a specific dollar amount not a percent. You're looking for a one response fit all situations and that doesn't exist. The reason I used dollars is the vast majority of owners and buyers focus on dollars not %. When you start focusing on percent's people think you trying to pull a fast one on them or use smoke and mirrors to confuse them.
Ask a person how much they pay in taxes on a new car purchase in their area, they will tell you in less than a min the percent or an average percent for their area. Show them a specific selling price for a car and ask them what the taxes would be and over 90% of buyers will give you an estimate or take longer than 4 mins to give you an answer without a calculator. So using percent's is the easiest way to manipulate numbers when talking to people. I want people to understand what I'm talking about because it's basic math not question the concept because they struggle understanding the actual numbers.
The advertised pricing of cars is what makes people call in or pursue a purchase. Many cars sell at the advertised price because people shop online or want to buy a car online. Online car sales sell at advertised price 96% of the time because all dealers show their hand. And customers only contact the dealer that has one of the cheapest prices for the car they desire to own. Dealers really don't have to do anything but wait for you to cave, which 96% of buyers do. So understand when I made the video I specifically chose to address the over whelming vast majority of corvette owners that bought their car for the advertised price and the few that got $2k or less in discounts that can objectively apply the conversation concept to what is taking place in the market. Not the small percent that got one off deals or believe they can get something better but haven't attempted to buy a car.
I bought a 2020 corvette z51, 1 LT at MSRP during COVID for 67k and sold it to a dealership for 59k with 28k miles a month ago. Car sold within two weeks at the dealership for 61k. Evidence to show its still holding its value and for me the best value I had for a car in 4 years I owned it, almost like having a free car for 4 years. Sold the car as I'm getting an Eray for MSRP on the way at level 3100.
See your story is the one people don't understand and miss. Like you said "it was almost like driving a free car," but it really was more like renting a car with unlimited miles for less than $4k a year. That's the value people don't recognize or over look.
For the pricing difference, I would rather just keep my 2009 Saturn sky turbo. You do have a pretty vette bro.
Thanks, BTW that was such an underrated car and I really wanted one back then. Today I've seen 5 that have been LS swapped and those things are ridiculous... If i had a shop and some downtime over the winter, that's what I would do.
@ICNVDE my Saturn sky is ruby red, automatic, with just 7,600 miles on her. Prettiest car I've ever had.
@@michaelramsey3986 Sounds like a real stunning car, I'm sure theres a community growing with it. Don't let it go it's going to be one of those timeless classics that's rare. It may never hit a $100k rareness but it will be a car that when you see it at a show or try to find one in 5 to 10 years that will make people say I should've bought one.
@ICNVDE thanks pal, it is the prettiest color scheme they had, ruby red with black racing stripes. Black top and black interior.
Its the same thing with the BMW M car market. These dealers car creating an artificial market. In no world is a car with 10k-20k miles worth +/- $5k of a brand new vehicle same spec.
Exactly, only Ferrari's do that!!!
Wow car prices go down? Honestly good most cars are wayyyyy over priced. Let them go down to something realistic where im actually willing to buy them
You aren't the only one that feels that way and hopefully the prices drop to where you need them to become an owner. It's a good car for the money!!!
Ciocca in Atlantic city is 10% off MSRP FOR 2024 models
@MrBruce-oc8ht So I have to say this again, you can advertise any price doesn't mean you can buy one!
Ciocca doesn't have any new 2024 CORVETTES TO SELL, that is marketing to get you in the door. Once they get you in they switch you to a 2025 and try to focus on the payments not the OTD price.
Year 1 depreciation 20%
Year 2 depreciation 10%
Year 3 depreciation 10%
Year 4 depreciation 5%
Year 5 depreciation 5%
Example $100,000 purchase price after year 5 the vehicles value is roughly $58,482 give or take a percentage or two for condition.
So that is a net loss of $41,518 or roughly 41.5% of the initial purchase price (the year over year percentages are off the reduced value of the vehicle at that time).
Vehicles just as primary real estate are not investments, they are necessities to live with shelter and to be used to get to work to earn an income.
If you’re not daily driving this corvette then it is a toy, an extremely expensive toy.
Paid 54k for my zl1 , sold it for 47k and a 2.5k gm incentive after driving it 3 years and 35k miles . Thats 4.5k $ for 36 month or 125 $ a month 😅😂
Know the game , play it wisely .
I will do even better this time 😊❤
@jimbeam4111 I always use similar numbers to figure out when I should buy car and what i project to loose when looking to get out of it. So I typically look for 2-3 year old cars because most of the depreciation has been absorbed. Then I figure out how long i anticipate on owning the car which is typically 30 months and plan my exit strategy from day one. The one difference between me and other owners is I drive everything like its a daily, if its safe to operate the car in the weather conditions I'm getting behind the wheel. Sometime I wish I would've thought of DDE, my friends and neighbors were saying I was crazy because I was driving sports car and convertibles with the top down with snow on the ground back in 1997, just didn't have super car money...lol. Thanks for sharing the info hopefully it helps someone.
@jeffnoob8448 EXACTLY
C8’s are just sitting,while everybody wants a C7 Z06!
I have a C7 ZR1 I bought it new
So lol I actually have a video coming where i'm talking about this because I keep looking at C7 Z06s as a potential purchase. It's a car i would like to own for long term. The C8 market is FLOODED which has helped keep the C7 Z06s in demand because of the power they produce for the cost of an entry level C8. The C8 has the look and amazing low end performance which for many older corvette loyalist is enough. If you're price conscious and looking for the bang for your buck it's hard to make an argument against the C7 Z06 because in my opinion its the only logical answer.
@@ICNVDE yea bruh you’re right I had to trade my C7 Z06 back in July and the manager bought it for himself on the spot!! Gave me 61k. I’m still crying-miss her so much!
It's all about supply and demand. And the economy. The economy is changing and you will see it change even more now that election is over.
you are sop right!!!
Prices down here in FL are tanking
Florida is it's own market, prices tank in Florida because it's one of the few places you can drive them all year round and out of state buyers are skeptical of the conditions because of all the storms.
I’m waiting for a lower price as well. Like c6 grandsport prices!
I completely understand and it will get there. You aren't the only one and it also reminds us that no matter how so many people believe everyone that wants the car has one, there is still a market that hasn't been tapped yet waiting patiently.
@ truth! 🙏🏽
Drive you car have fun
Exactly
I can care less, i love my car and i have 32k miles on it.
That's what I'm talking about!!!! Drive it and enjoy it.
I paid 7500 for a c3 now it's worth 20,000 dollars! Lol 😆
The funny thing about that is most old cars have appreciated but it typically takes 20 years and to really see it and 30 or 40 years.
What do you think of C-7 and C-8 that have very low miles that have had 3 owners???I mean people buy a car like this and only keep it 6 months or a 1 1/2 years???Would you buy a Corvette like this???Is there some thing wrong with the car or did the just bite off more than they could chew??? I have a C-8 but look at the market just to see how the values hold up and the prices.
I like your question and I will make a more detailed video about this! Keeping it simple, i would use the tools available to me to make the best decision. I think history and market awareness matters, but if you would buy any other car on the economy with 3 or more owners don't look at the Corvette any differently. I believe every corvette generation has had some type of bug which is typically addressed as the model years progress. Many fixes aren't costly to address out of your own pocket today and most were taken care of by the manufacture.
The only thing that concerns me about used corvettes is, they are high performance GT cars that were built so any mechanically inclined consumer could work on them. The lack of documented servicing history would concern me, and a history of over servicing would be a concern as well. But many old school corvette owners adopt this philosophy that you can't over service a car. Although it is a true statement to an extent, you can also create a false sign of a car with issues/problems. A lot of potential buyers will avoid that car and dealers will lower the value of it.
When it comes to owning a sports car, many people have different purchasing philosophies. The more expensive a car gets it tends to have a higher turnover rate.
In most cases it's not because the car has issues, it's because people who are financial conscious typically understand the longer they own the car the more out of pocket cost they will pay. I touched basis on this a little in this video but ultimately it comes down to a budget for the seasonal ownership and living with in it. Overall I believe you can find a good multi-owner car, there have been some concerns about both generations that could create concern. But in most cases they have been addressed and the cars which have been repaired has an additional added coverage attached to the car that will carry over to the new owner if applicable.
like your car
Thanks!!
I own a C 7 zo6 when the car came out the basic stingray was over 100 thousand I knew I never buy this car it was overpriced it might been 60 thousand you couldn’t buy one GM screw their self on the c8 60 thousand before you put anything on it you need understand they made a lot c8 which make it not the one to buy.
I completely understand but GM making the other versions of the C8 starting over a $100k has also forced a lot of people into the stingray. There are a few nice discounts on the Z06 and The E-ray but it's heavily equipped cars with MSRPs over $140k. The average and historical corvette buyer isn't in the market for a $120k plus car.... that's why the C7 ZR1s struggled to sell everyone was waiting for them to drop below $90k before the started chasing them... and they never did.
The base C8 stingray will be the only corvette many corvette owners ever own and even though the market is flooded with them, it'll still be a while before you can buy one for under $45k with a clean title....
@ ok c7 zr1 was car they made one year it started a 140K because only one year in production and being Zr 1 it set up be the car buy to set in garage because the low number and price would climb my zo 6 was 91k that’s 49k over mine and just second faster made know scent to me to buy unless you gonna set on it for a profit which most people did. C8 that difference story once GM understood the buyers a young man with deep pocket who would sell his soul to buy that car. GM chose the young man then over their loyalty older buyer and price them out. Personally I don’t like the car and I will not but that car at any price just don’t like it…..
@@dwightmurray9763 That's the beauty of the corvette community and market. You saw the C7 ZR1 as the car to be purchased and sit in a garage. Many of the ZR1s purchased were driven and if you truly look at the ones that hit the market place today they have more miles than base C7 Corvettes garage kept for no reason.
Unless you plan on keeping a car for 30 plus years for premium value the miles don't matter. But my point behind the C7 ZR1 pricing was 70% of the cars didn't sell for MSRP, they actually sold $10k-$12k under. The same for the C6 ZR1 which is the most driven and heavily modified corvette that corvette loyalist look to buy and build upon. Loyal corvette owners aren't in the market for $100k cars.... they just not.
GM didn't choose younger buyers over their loyal older buyers, they just made a decision not to give them anything for free. They maximized the performance out the 6.2L v8 and gave it to them for a steal. Lets be real, the Audi R8 V8 cost more and doesn't have near the same performance capabilities. Every thing else they brought out is a ground breaking first and they said if you want the performance and technology you have to pay for it. Hybrid Corvette (E-Ray) you got to pay, Highest Reving Horse Power v8 ever (C8 Z06) you got to pay, The fastest corvette ever made (C8 ZR1) you got to pay and the first Corvette Hyper Car (Zora) you got to pay.
It's not about screwing over their old customers it's about showcasing their engineering capabilities to the world and still getting fairly compensated for doing it while making it obtainable to the middle class. I know some people will say it's not obtainable but if you can buy a New Range Rover SVR or a used R8, 911 GT3, McLaren or Huracan you can afford the new performance C8s with a factory warranty.
Drive the car vett $60…000 hell no
GM, in my opinion, just missed on the styling of this model. Even an old Pantera is a better looking mid engine car in my opinion. I know it has the performance. Get those ugly headlights off the front fenders! I prefer 1998 and earlier styling. Yes I've owned Corvettes and even an XKE Jaguar from the 60's.
@rondyechannel1399 they didn't win over everyone with the styling but I actually love it for their first go around. It was dramatic enough to draw people in but historic enough to see the history of the previous generation. I know they can't make everyone happy but it seems to be a crowd favorite for the most part.... remember they barely made 94K C7s and they're a few units short of doubling that number today with over 96% of those cars in a customer's hand.
Lol, it was overvalued from the start. It's right, where it needs to be. Mass production, not a 1000 per year 😅😅😅
I would dis agree with the over valued from the start, but since they are looking to put over 200k cars on the street I have to agree. The only thing I would say is based off the amount of cars that's out there I'm actually surprised its doing as good as it is, I would've expected the car to be doing quite worse. If any one would've said in 2020 there would be 177k cars made by the end of 2024 and the cars would be selling less than $10k under MSRP with 40k miles i would've said you are crazy.
@ICNVDE I am going to help you out. The pandemic plays a role in how many they were building. Now inflation, it was supposed to be about 30k a year. Now, do the math. Mass production 🙌 😅🤣😂
I’d rather have a LC500 convertible
Nice car and a close friend of mine has one, I thought about the coupe as a 2nd vehicle. Its nice styling and reliable but the C7 was a more engaging and fun drive. If you want more of a luxury appeal then go with the LC but getting a C7 could save you more money and the driving experience performance wise will be much better.
MAKE AMERICA GREAT AGAIN 👍👍
C6 ZR1 $80-100k
Ten years from now 80-100k
C8 corvette 70-100k
C8 ten years from now 35-50k
I almost agree with you projection, but I think it will be more like $42k-$62k. My question to you is what are you trying to compare? C7 ZR1 $124k-$148K 5 years later $180k-$250k A base C6 corvette $52-$69k 10 years later $10k-$28K either way the C8 still seems like a good purchase with less depreciation compared to other corvettes of the past.
🇺🇸❤️🤍💙🙏
Sponsored by Porsche
LOL the Porsche may be a smarter short term investment
@ An S&P 500 index fund would be smarter than any car overtime is an investment, even the Ferraris from the 1960s that are selling for millions. Cars are not good investments. 🙂 Also don’t forget, of the newer Porsches, the only one that really holds its value extremely well is the GT3 class. But let us not forget that in order to even get on the list to purchase one, one must have established a “special relationship“ with their dealership, wherein one is required to have purchased several lesser Porsches. So factor in the depreciation and lost sales tax/insurance costs etc. for the ownership of those vehicles, coupled with the $100,000 markup for a GT3 variant… the index fund just looks better and better. 🤣
So if we get back to the Porsches in the same class as this C8 Corvette, if you look at the MSRP to MSRP depreciation cost of each, historically the Corvettes have still been less expensive by virtue of the fact that they hold their value comparably to the Porsches , the Porsches have a bit of an edge percentage wise but they cost so much more, ownership cost for the Corvette is still much less. not to mention insurance and maintenance etc…. Pretty hard to fill a glove on this thing in terms of what it offers for the money, and it’s just an absolute blast to drive as well. I had a 2020 and traded it on us 2023 Z06 which is even more insane. Love it!
It’s a car dah.
Exactly!!!
They're ugly, even more if they park next to Euro sport cars.
That's truly an opinion, the styling and design has been admired by so many; think about this... they made over 177k cars and 96% of them are registered to an owner. I think that alone speaks volume since that type of production is unheard of, especially for sports cars.
car sucks
Sorry you feel that way, being behind the wheel of it I feel the exact opposite
Just a car I got a vett
You're 100% correct
used will drop another 5k in the next few months. There sitting for a while. It will take a year to get the economy going strong again. So i think it will be a buyers market for all of 2025
I think a lot is going to change with the economy over the nest 2 years, but the fact corvettes are sitting isn't the issue. The corvette sells will go up 2 weeks after the new year and sports car typically corvette sells go up in tax season. So basing todays market on the trend for prices drops i wouldn't completely agree with. Look at the history of corvette sells, the C4-C6 sat on the average corvette dealer lots an average of 6 months the C7 sat on lots around 5 months. Franchise Dealers and Sports car dealers expect to hold sports cars 5-8 months.
The 5 dealers I took my car to and every out of state dealer I've contacted over the past 5 weeks about unloading my car all say the same thing "I have to sit on this car until late march before I hit the 3 mos window to truly try to sell it." So with them understanding this the panic people believe dealers are going to have because the car has been sitting really isn't there. Dealers play Chess while consumers typically play checkers. If you really want to get a good deal on a sports car, buy it in November and December. Regardless of the location you in, it may be cheaper depending on certain regions but it will always be cheaper that time of year.
@ brotha car sales in general is in the tank. I have been to several talking to sales guys and it’s bad .
Not even debatable. Many have had to go find salary jobs .
Some are still doing well but most are not.
The interest rates will not come down enough to matter over the next 12 months .
Look at the massive layoffs by several of the major car manufacturers and the layoffs keep rolling in daily with more to come .
You can’t compare this to anything in the past . High prices and inflation is never been this bad.
The amount of price reduction and multiple dealers giving 10 percent off msrp on new orders speaks for itself .
Also the amount of c8 on the road is very high and that will play a roll as this car continues to sale 5 years after it was introduced.
So in 3 years an updated newer model c8 will likely be released . That will drive the prices down even more .
As z06 prices fall that will also have an effect .
Bottom line if you are trying to get top dollar you better sale it now but it likely want sale at the price you want .
I have several saved cars from auto trader and car gurus .
Many have been on the lot for over two months now .
Sorry but the prices will continue to fall to about an average of 5k less than the current used c8 market value .
5 k ain’t nothing anyways lol
I don’t see them going below the 5 k mark until the updated c8 is released in a few years .
Sorry man it’s a buyers market and I am here for it!!
So regardless they will still sale ok on the used market because the prices are falling towards that 5 k off mark i mentioned
That is a 50k car all day long. Not a penny more
I would like to know how you came up with that number, I disagree on three levels and I'll tell you why.
1. This car changed the brand name of the car and made Corvette the most desired vehicle for ownership. It was car of the year 2 years in a row, the #1 selling car in America 3 model years in a row and had a waiting list for ownership for 4 model years. At 150k cars produced which is unheard of for a sports car and should've been the max number of cars EVER produced, they were still getting people to pay over MSRP to own one.
2. As a midengined sports/super car it's better than the Audi R8 V8 in every aspect which people felt was the best bargain/entry level supercar. For what the C8 is, in my opinion the performance it gives says it should've started around $70k-$80k which many thought it would. Honestly that's why it was so easy for dealers to charge $15k-$20k in markups when it came out and was selling out quicker than they could produce one. If we did a real world market comparison the purchase price of the car would average over $75k. I feel the $69,995 starting price today should've been the minimum starting price in 2020.
3. The mass production of this car in my opinion is what killed the value; but what else can you really buy that provides the same status, reliability and performance? It took making over 177K cars for them to introduce rebates to help sell it. There hasn't been another car in the world with this type of production volume and still have people waiting to become an owner. For that reason alone I would say it's worth $60k and if you want to be real about it, GM raised the price to $69,995 5 model years later and people are happily bragging about getting $5k-$10k off to buy one new for the same money it sold for when it came out.... so I guess truthfully it's a $60k car.