Depreciation now that 2015's are out?
#21
I too would like to see listings of 2014 C7's that are priced below $50K. So far I have not seen a single one in that range. I still see plenty of 2014's priced in the mid 60's and a few in the upper 50's. Many can say that the prices have dropped drastically but let's see some PROOF!
#22
Race Director
Those of us that staged our cars before the price increases are in a good place. After March 3rd, the '14 Z51 increased by about $4k.
I've never worried about depreciation on any car I've ever owned. I never even consider resale value. I keep cars until I'm bored and then move on. That being said, I intend to take the C7 into retirement with me in a couple years.
I've never worried about depreciation on any car I've ever owned. I never even consider resale value. I keep cars until I'm bored and then move on. That being said, I intend to take the C7 into retirement with me in a couple years.
#23
Drifting
Biggest hit on depreciation always comes before the ink is dry. From that point it is typically a fairly even slope downward.
Your target numbers are reasonable... Just keep saving up so that you are ready when you make the decision to purchase - you will not be disappointed!
Your target numbers are reasonable... Just keep saving up so that you are ready when you make the decision to purchase - you will not be disappointed!
#24
Safety Car
I'd have to disagree. A loaded low miles 2010 is not worth near the same as a stripped low miles used 2014 1LT C7.
KBB on a loaded 2010 GS Coupe with low miles is $37k+/-
KBB on a stripped 2014 1LT Coupe with low miles is $53k-+/-
KBB is probably a bit high on both, and they don't always factor true supply/demand accurately.
There may be a few 2010's "for sale" with an asking price near the price of a C7, but they won't sell for that.
KBB on a loaded 2010 GS Coupe with low miles is $37k+/-
KBB on a stripped 2014 1LT Coupe with low miles is $53k-+/-
KBB is probably a bit high on both, and they don't always factor true supply/demand accurately.
There may be a few 2010's "for sale" with an asking price near the price of a C7, but they won't sell for that.
$53,000 .kerbeck selling new for $50,000 with gm supplier discount maybe
$46,000 so your saying used is more money than A new one.
Ok if you say so.
#25
Again, the KBB is high on both. However, KBB shows the difference between the 2 cars, regardless of actual selling price, at $16k. Seems about right since the 2010 has depreciated for a whopping 4 additional years.
Loaded cars usually have a faster rate of depreciation off MSRP too. So, a "loaded" GS isn't going to retain as much of it's value as a moderately equipped one. Meaning, a loaded $65k MSRP GS is not worth too much more than a $60k MSRP "moderately" equipped one, right now.
KBB is way off? OK if you say so.
Even, $46k is still 25% higher than $37, right?
Last edited by RedC7AZ; 10-24-2014 at 12:51 PM.
#26
I could only wish that you were right. As a person who wants a C7.. but is in no rush to trade the C6 I barely drive for one.. Exactly where are these heavy depreciations? Or are you looking into some magic crystal ball that shows made up numbers.
Can anyone even show me a link for ANY used C7 that is priced below the $50k mark? Remember this is car that was selling for $52k brand new!!
Can anyone even show me a link for ANY used C7 that is priced below the $50k mark? Remember this is car that was selling for $52k brand new!!
#27
Safety Car
...and a 2010 GS isn't going to sell for $37k either. Demand for C6s sunk a bit when the C7 was released.
Again, the KBB is high on both. However, KBB shows the difference between the 2 cars, regardless of actual selling price, at $16k. Seems about right since the 2010 has depreciated for a whopping 4 additional years.
Loaded cars usually have a faster rate of depreciation off MSRP too. So, a "loaded" GS isn't going to retain as much of it's value as a moderately equipped one. Meaning, a loaded $65k MSRP GS is not worth too much more than a $60k MSRP "moderately" equipped one, right now.
KBB is way off? OK if you say so.
Even, $46k is still 25% higher than $37, right?
Again, the KBB is high on both. However, KBB shows the difference between the 2 cars, regardless of actual selling price, at $16k. Seems about right since the 2010 has depreciated for a whopping 4 additional years.
Loaded cars usually have a faster rate of depreciation off MSRP too. So, a "loaded" GS isn't going to retain as much of it's value as a moderately equipped one. Meaning, a loaded $65k MSRP GS is not worth too much more than a $60k MSRP "moderately" equipped one, right now.
KBB is way off? OK if you say so.
Even, $46k is still 25% higher than $37, right?
#28
Beg to differ
My 2014 I bought to keep.
I have zero issues so your first year comment is BS. I think about 95% of 14 owners will agree with me.
This car is the best Corvette I have ever owned and I don't think about depreciation at all. I'm getting my money's worth everyday with this beautiful car and had it while it was the hottest thing out. People taking pictures and thumbs up everywhere. So many people asking about it and starting conversations just because they are interested in the new Corvette.
And the way it drives.......that alone has made everyday I have used it, that much more enjoyable.
I have zero issues so your first year comment is BS. I think about 95% of 14 owners will agree with me.
This car is the best Corvette I have ever owned and I don't think about depreciation at all. I'm getting my money's worth everyday with this beautiful car and had it while it was the hottest thing out. People taking pictures and thumbs up everywhere. So many people asking about it and starting conversations just because they are interested in the new Corvette.
And the way it drives.......that alone has made everyday I have used it, that much more enjoyable.
#29
Burning Brakes
Resale prices
I recently sold my 2014 2LT BACK TO DEALER FOR $54K...TRADED it in early for a 2015 Z51 2LT which I wont see until end of December...and already miss it!!. Hard a tough time getting anything higher than the 54k. Had 4500 miles.
#31
You "traded it in" to the dealer, correct? People never get what they want on a trade in.
#32
Safety Car
Please show me a single example of ANY used C7 selling below $50,000.
Shouldnt be that hard to do. This is a car that started at $52,000 new.. and has been on the streets for 16 months.
And one that YOU claim will be selling for 50% of its value after 60 months.
#33
Safety Car
Just do an Internet search for crankshaft end play issues, and Z51 oil ingestion problems, well as engine vibration at idle, and The list go's on. I currently own 14 Z51 that's been out of service for 25 days now. problems documented by factory with no solutions. If you own a z51 it will suffer the same problems. Just look up car and driver article with their long term test car eating a motor at 6000 miles. This is the 8th vette I've owned over the years and sadly the worst. If you don't use your car as a daily driver you may not see these problems , but for the daily driver the new LT1 is without doubt the worst small block Chevy to date. I wish you luck with yours, and for those thinking buying one you may want to research my problems list before dropping 70k.
I just got the 1LT no options.So far so good.I do have A little rough idle
But I'm hoping that's because the cam might be A little stronger.I can hope.I drive it daily.Keeping my fingers crossed. Good luck to Ya.
#35
Just do an Internet search for crankshaft end play issues, and Z51 oil ingestion problems, well as engine vibration at idle, and The list go's on. I currently own 14 Z51 that's been out of service for 25 days now. problems documented by factory with no solutions. If you own a z51 it will suffer the same problems. Just look up car and driver article with their long term test car eating a motor at 6000 miles. This is the 8th vette I've owned over the years and sadly the worst. If you don't use your car as a daily driver you may not see these problems , but for the daily driver the new LT1 is without doubt the worst small block Chevy to date. I wish you luck with yours, and for those thinking buying one you may want to research my problems list before dropping 70k.
#36
Le Mans Master
[QUOTE=RedC7AZ;1588110677
5 year old C6s are not selling anywhere near the price of used 1 year old 2014 C7s.[/QUOTE]
REALLY?
5 year old C6s are not selling anywhere near the price of used 1 year old 2014 C7s.[/QUOTE]
REALLY?
#37
Thats not what I asked.
Please show me a single example of ANY used C7 selling below $50,000.
Shouldnt be that hard to do. This is a car that started at $52,000 new.. and has been on the streets for 16 months.
And one that YOU claim will be selling for 50% of its value after 60 months.
Please show me a single example of ANY used C7 selling below $50,000.
Shouldnt be that hard to do. This is a car that started at $52,000 new.. and has been on the streets for 16 months.
And one that YOU claim will be selling for 50% of its value after 60 months.
#38
Lt1
Kind of makes me feel A little better that I didn't get the Z51.
I just got the 1LT no options.So far so good.I do have A little rough idle
But I'm hoping that's because the cam might be A little stronger.I can hope.I drive it daily.Keeping my fingers crossed. Good luck to Ya.
I just got the 1LT no options.So far so good.I do have A little rough idle
But I'm hoping that's because the cam might be A little stronger.I can hope.I drive it daily.Keeping my fingers crossed. Good luck to Ya.
GM is sending engineer down to inspect my car on Tuesday. Mechanic that worked on my car has years of experience with the vettes, and was the one that found the crank to be out of spec. Sadly dealer is telling me only an engineer can make that assessment?? So if the engineer is going to inspect to attempt to refute a certified vette mechanics claim, how much faith should we have in GM's service practices? I was also asked why i took the car to 3 different dealers and i simply stated the first two could not address the issue. Fact is in Florida a car is an automatic lemon after 30 days of down time, and that is rapidly approaching. I think they fear they will have to buy it back, and since my research has revealed several cases of crankshaft tolerance issues, another recall is all they'll need. Can you imagine if they have to recall all LT1 motors for manufacturing defects? Bring back the old LT5 of the original ZR1. Now that was a motor.
If your a GM fan just look to the past, and you'll see they kill off any quality product they ever built (Buick Grand National, Caprice based impala SS, LT5 Vette, ect..), and replace it with half-assed junk, and use us as the test mules.
Sadly I traded my 2014 3000 mile ZL1 Camaro for this thing, and as much as they try to compare the vette to it, i'm sorry to say 580 Supercharged Horse is terribly missed and regardless of what you read it stomps the 460 Horse Vette.
Best of luck, and I hope your one of the lucky owners with no problems.
#39
Le Mans Master
#40
I could easily buy one and solve the problem, but why should I have to spend money on aftermarket non emmissions certified parts on a 70K car. I cant wait to see how the new ZO6 fairs, as it uses a basically beefed up version of the same motor. Add a supercharger and boost to the equation, and you'll see a real mess occur.