Workaholic7

I'm one of the kids who grew up in the 90's with posters of the C5 Corvette, Ferrari F355, and Lamborghini Diablo hanging above their bed. Never would I imagine I'd be in a financial position at my age to buy a dream car. As soon as I saw the C7 in pictures over two years ago, I knew one day I must have one. That day has come faster than I thought.

A little about me...I'm Chris and I live in a relatively small town in Iowa, went to college at a state university and got my bachelor's and my first job out of college gives me about $65k/ year in which to fund my lifestyle. I graduated in 2013 with $28k in student loan debt and will have it paid off by this coming January. I have a low cost of living which has allowed me to save up quite a chunk of money in my 401k, ROTH IRA, and other investment account. I now want to splurge on myself a bit with a new (or possibly preowned) Stingray.

My questions are...I'm looking to buy in May or June...would it be prudent to waste two months of ownership time to buy a 2015 as the 2016s are appearing on dealer lots? What type or discount or incentive would I be able to score?

I'm looking at buying a base coupe 1lt with the ZF1 package, performance exhaust, and the 8 speed automatic. The supplier price Is about $55k..will it be possible to find any preowned 1lt cars for around $45k this coming summer? I like to be prudent with my money and a low mileage C7 would make my wallet happy.

What's my best course of action in obtaining my dream car? Will it be possible to beat supplier pricing?

Any info is greatly appreciated!! Thank you and I hope to soon be a proud member of the C7 community!

Chris

Skid Row Joe

The more time that passes, the more used C7s will be up for sale at lower prices. With the Internet, it makes shopping for one Nationally a piece of cake. I think you're on the right track. Just choose the used C7 you can afford when the time is right.

0v3rc10ck3d

That's a lot of money to spend....I just bought one on Saturday for 55k. I make about 145k a year at 29 years old and it was probably more than I should have spent on a car. You're in a really good position for your age but I wouldn't buy one if i were you....it really is a lot of money on a depreciating asset even if you can "technically" afford one.

Randy G.

I bought my first Corvette when I was 17. Didn't care if it depreciated or not. I didn't consider it an asset...but the girls did.

Workaholic7

I appreciate the replies so far. I'm really not looking for financial advice as far as whether I should or shouldn't buy one. More so wanting to know what used 2015 1lt C7s will be going for in the early summer and when incentives may start popping up on the 2015 inventory to make way for the 2016.

I would really like to order from a forum vendor when the time is right. Locally there isn't much in the way of C7 inventory and dealers are still asking msrp out in Iowa whereas other dealers seem to be offering a few thousand on the 2015s.

I'd comfortably like to be around $45k...is this doable or are my expectations out of line?

I'm trying to figure out what realistically I should be budgeting for to get into either a preowned 1lt 2015 or a new, "leftover" 2015. I'm willing to travel for the right vehicle.

Randy G.

I'm sure you've been monitoring the C7 for sale section here on the CF. Several want out of their 2014's as their 2015 Z06's are arriving. Might find a deal.

Brubie

Right now MacMulkin Chevrolet is discounting 1lT Z51's for 10 percent off sticker. Has about five of them priced from 56,000 to 58,500. So in June of next year you should have no problem picking one up close to 55,000. Good luck in your future purchase

mikez06

You wouldn't be the new "Bachelor" would you? Chris from Iowa...

jschindler

I've been on this forum for a seriously long time. My advice in the future if you don't want financial advice is to not mention your age if you are under 25, or financial status at any age. Halfway through your post I knew what was coming.

Good luck on whatever you decide.

AORoads

Not only do I agree w. Jim above, but also the non-requested financial advice. However, with that said, you will not be able to "order" a new car for $45K in my opinion as you option it in post 1. And you will not, imo, find a $45K used car UNLESS you go to a '14 and even then it might be difficult. But that '14 does not meet your criteria for an A8 automatic. If you drop that to an A6, then I think at least it is potentially possible. Also, your search radius will probably have to be hundreds if not more miles from Iowa. Just sayin'....

rcooper

I am from Iowa,also,and agree that you should use the internet to search for that used one. Given that the market is a bit small there.
There is a guy here in Austin that is getting ready to sell his '14 A.W. do to a bunch of speeding tickets. Not an abused car, just likes to drive fast. I am sure that there will be many to choose from in the upcoming months.
I know that my supplier pricing is expiring in mid May of 2015, so I am gathering that the offer is getting close to expiring then also. If going new order about mid March and get your car in early May, assuming that you use a dealer with allocation.
And, as for money advice...it's yours, spend it the way you want, you seem to have a fairly level head so I don't think that buying a car you want is anyone else's business.
Asking for opinions is good, if you can put up with the extraneous crap that comes with those opinions.

Steve Garrett

Chris, welcome to CorvetteForum!

You might consider contacting one of our Vendors from the site. Tell them what you are looking for, your price range and when you want to purchase your C7. Keep in contact with them and see what they have to offer. That way, you're starting the process early, which will hopefully result in you getting exactly what you want.

Rave

As for buying a used Vette, while a low mileage C7 might make your wallet happy, it's good to keep in mind you'll be opening the door from everything from a pampered Vette to ragged one, and the exterior views may not provide you with hints (either way) of how the car was treated or maintained. My suggestion is to pay a bit more and buy a new Vette so you know the full history of your car.

As you can see in the video clip below, there are no prerequisite IQ and/or driving skill tests necessary to purchase a Vette, and body shops can work wonders:


Good luck with your decision.

EcoBrick Bob

If you could settle for a 7 speed stick, there is a Night Race Blue Z51 that was just traded in at Karl Chevrolet in Ankeny. (a good friend's car who has had over 40 new Vettes over the years and keeps his cars in better than new condition) Karl also has 30 2015's in stock for sale. While lots of small dealers get Vettes in IA, when it comes to selection, Karl is only game in the area.

If you go new, you can also get a "courtesy delivery" locally in IA if you purchase from one of the Forum large Vette dealers.

thrilled

I would say 1st be patient.Then see how much you spend A month.Then add the price in for monthly payment,gas,insurance etc.After doing all this and you feel that your not cutting your money close then go for it.
If I was you I would definitely get the student loans paid off.
To me the C7 is A real game changer.I have never had A car like this.Good luck to Ya.

Landru

At 24 have you checked what insurance will cost?
Unless money's no object, might do some legwork now to get a handle on what you'll be paying beyond the cost of the car.
GL, hope you get your dream car.

LDYSTIG

I'm 25 and don't make it a point to reveal my age unless the thread/topic is age-related. If you feel that you are financially able to purchase a Corvette, it's really no one's business how you spend your money.

That being said, back on topic - locating a used, low mileage '15 car with the options you are wanting for less than $50K will probably be a tough find. Then again, this is all speculation based upon market demand and availability come Summer and the internet is your friend. Good luck!

Workaholic7

I appreciate the information and replies thus far. I'll try to respond as much as possible:

I figured I'd be fighting an uphill battle trying to locate a used '15 for under $50k but with supplier pricing on used 1lt's being around $54K with a few options, it may not be impossible (I hope).

Yes I have...currently my Geico policy is $99/ month with full coverage on my current daily driver and adding the Stingray would increase this to $170/ month. For my age, I didn't think this was unreasonable at all.

If I don't order from one of the forum dealers, I'll either order from Karl Chevrolet or Jerry's Chevrolet in Beresford, SD (a bit closer, I'm located in NW Iowa). But I really appreciate Mike Furman's multiple threads of pictures and he seems to be a great guy to deal with in my various readings on this forum. I'd be very happy to give him my business even if a peon like me probably isn't quite like his usual, high-dollar customers.

I do understand this which is why a 2015 "leftover" car would be ideal. This is really what I'm keeping my eye out for.

Thank you for the welcome! I appreciate it!

I'll probably contact one of the forum dealers in the coming months if I don't see anything pop up on autotrader that trips my trigger. I don't know many of the forum dealers except for Mike at Criswell or MacMulkin from reading numerous threads on here.

How long does supplier pricing last? I'm eligible to get the credit union discount, which is the same as far as I know, but haven't request it yet because I didn't know when your request expired?

As far as the financial advice...I appreciate your sentiments. If I truly felt that buying a Stingray would be pushing my budget too tightly, I wouldn't consider one.

I didn't think I would find any "new" cars for $45K but thought it might be possible to find a few used ones hovering around there. If I were to go with a brand new car, I'd put my budget at $50K-ish but with the prerequisite options of the NPP exhaust, 8 speed, and ZF1 package along with also being torch red with a black interior (I know...I'm not picky at all ).

Well I am "A" bachelor however I'm not remotely good-looking enough to be "THE" bachelor!

I've been browsing MacMulkin, Criswell, and Kerbeck for the past few weeks to gauge the market and most seem to be offering close to supplier pricing for in-stock vehicles. Hoping that the market will soften a bit and GM will start offering their own incentives on 2015 Stingrays to ease my pain.

Again thank you to everyone who has contributed thus far!

Algiers

Welcome to the forum. The C7 is great car and you'll definitely enjoy so don't let anyone talk you out of it.

You won't really be in "leftover" time yet in May or June. This year they didn't switch over the factory from 2014-2015 until early August. I'm not sure if it will be exactly the same but I assume it will be close. That's not to say there won't be deals but I doubt you'll get any "get this car off my lot" crazy deals.

I wouldn't worry about it expiring since from what I'm told they don't remove it from a model once it's on there. As far as your credit union request expiring, you can always just sign up again if you get a number and it expires before you purchase. I think there's a limit but it's really more of formality and wouldn't be a problem realistically.

Stay picky and get exactly what you want. What you're looking for might be kind of hard to find but it's by no means an unusual build. The 50k is probably a bit of stretch though. You might get close but I doubt you can get a new one for 50. Who knows though you might get lucky. Keep an eye out and keep checking the big dealers.

Woodson

Enjoy. I'm jealous...