Values tanking
10-25-2016, 04:49 PM
#41
Pro
I guess I don't get the GS craze. I have a Z51 which I've made my own, headers, side skirts, etc. I could never ever drive a Z51 to its limits on the street or at the track for that matter. At one time the C7 Z51 used to be considered a track beast and now all of a sudden it's yesterday old news. The car will still out perform 99% of the cars on the road. Enjoy what you have and make it your own!!! It's a gorgeous car.
I have done the same thing....no need for the GS for me...-M
10-25-2016, 04:57 PM
#42
Le Mans Master
Been shopping for a while, with winter setting in up North and West... it will only get better/worse, depending on which end you are on. You think values are in the tank on 2016 C7's, try selling a 2016 Camaro!! I took a huge hit, but managed to "claw" my way back up in my trade in value when I used that as leverage to buy my latest C7 LB Z51-3LT w/ MRC & NPP, had 2.5k on the ticker...$54k.
I had to drive 800+ miles but well worth it
I had to drive 800+ miles but well worth it
10-25-2016, 05:16 PM
#44
10-25-2016, 05:27 PM
#45
Team Owner
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St. Jude Donor '05
GM is not helping" -- how so? How should GM be "helping"?
What kind of "value holding" were you expecting from a regular production GM car?
What kind of "value holding" were you expecting from a regular production GM car?
Yrs ago someone started a myth that every new corvette was somehow going to be a rare collector we all see the threads. 1 of xxx....build date blah...none of it really matters. Take the hit enjoy what you got
how could anyone buy a new car and expect not to lose thier shirt?
mass produced Chebbies not foreign exotics.
10-25-2016, 05:33 PM
#46
Great for us shareholders!
GM is making a ton of money. These numbers below are for the 3rd Q only.
GM Earnings More Than Double
General Motors Co. doubled net income and notched record revenue in the third quarter amid strong truck sales in the U.S., but Brexit fallout threatens to derail the auto maker's drive to post its first annual profit in European operations since 1998.
GM on Tuesday posted net income attributable to common shareholders of $2.77 billion for the period ended Sept. 30, up from $1.36 billion reported in the same period a year ago. The Detroit auto maker said operating profit excluding one-time factors equaled $1.72 a share, breezing past Wall Street expectations of $1.45 a share.
Revenue rose 10% to $42.83 billion, a quarterly record for the company and substantially higher than analyst forecasts of $39.3 billion for the period. Shares of GM rose above $33 in premarket trading, higher than the initial public offering price in 2010.
The results provide a view into GM nearly three years after Mary Barra took over as chief executive and encountered a costly safety crisis that dented earnings and cost billions of dollars to resolve. While missing a Europe profit target will cloud the company's string of record earnings performances in recent quarters, GM has emerged as one of the most profitable mainline car companies in the world.
..
GM is making a ton of money. These numbers below are for the 3rd Q only.
GM Earnings More Than Double
General Motors Co. doubled net income and notched record revenue in the third quarter amid strong truck sales in the U.S., but Brexit fallout threatens to derail the auto maker's drive to post its first annual profit in European operations since 1998.
GM on Tuesday posted net income attributable to common shareholders of $2.77 billion for the period ended Sept. 30, up from $1.36 billion reported in the same period a year ago. The Detroit auto maker said operating profit excluding one-time factors equaled $1.72 a share, breezing past Wall Street expectations of $1.45 a share.
Revenue rose 10% to $42.83 billion, a quarterly record for the company and substantially higher than analyst forecasts of $39.3 billion for the period. Shares of GM rose above $33 in premarket trading, higher than the initial public offering price in 2010.
The results provide a view into GM nearly three years after Mary Barra took over as chief executive and encountered a costly safety crisis that dented earnings and cost billions of dollars to resolve. While missing a Europe profit target will cloud the company's string of record earnings performances in recent quarters, GM has emerged as one of the most profitable mainline car companies in the world.
..
Last edited by nmvettec7; 10-25-2016 at 05:34 PM.
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10-25-2016, 08:40 PM
#50
Was thinking about upgrading my 14K mile 2015 3LT Z51 coupe to a 2016 equipped identically, (but of course with front cameras, extra tranny cooling, pull down hatch, and D steering wheel), but the trade in offered on mine was pitiful so I will keep it a while longer.
I don't track it so don't really need the extra cooling and I have a curb alert for the front and it's not that big a pain to push the hatch closed. I'll wait till something leaps and bounds ahead of my C7 comes along and then think about taking my licks.
I don't track it so don't really need the extra cooling and I have a curb alert for the front and it's not that big a pain to push the hatch closed. I'll wait till something leaps and bounds ahead of my C7 comes along and then think about taking my licks.
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Flex182 (11-01-2016)
10-25-2016, 08:49 PM
#51
Racer
^^^^ I'm curious what you all are being offered for trades on Z51 cars. I'm on the other side of this and often see 2014/2015 cars listed for $50 - $54 for 2LT and $52 - $56 for 3LT. I like to have an idea what these dealers have into them. If anyone cares to share this information, reply or PM is fine. Thanks.
Last edited by Steve Garrett; 10-27-2016 at 12:07 AM. Reason: No need to re-quote the previous post, especially if you're the next person posting.
10-25-2016, 09:07 PM
#52
Racer
Great for us shareholders!
GM is making a ton of money. These numbers below are for the 3rd Q only.
GM Earnings More Than Double
General Motors Co. doubled net income and notched record revenue in the third quarter amid strong truck sales in the U.S., but Brexit fallout threatens to derail the auto maker's drive to post its first annual profit in European operations since 1998.
GM on Tuesday posted net income attributable to common shareholders of $2.77 billion for the period ended Sept. 30, up from $1.36 billion reported in the same period a year ago. The Detroit auto maker said operating profit excluding one-time factors equaled $1.72 a share, breezing past Wall Street expectations of $1.45 a share.
Revenue rose 10% to $42.83 billion, a quarterly record for the company and substantially higher than analyst forecasts of $39.3 billion for the period. Shares of GM rose above $33 in premarket trading, higher than the initial public offering price in 2010.
The results provide a view into GM nearly three years after Mary Barra took over as chief executive and encountered a costly safety crisis that dented earnings and cost billions of dollars to resolve. While missing a Europe profit target will cloud the company's string of record earnings performances in recent quarters, GM has emerged as one of the most profitable mainline car companies in the world.
..
GM is making a ton of money. These numbers below are for the 3rd Q only.
GM Earnings More Than Double
General Motors Co. doubled net income and notched record revenue in the third quarter amid strong truck sales in the U.S., but Brexit fallout threatens to derail the auto maker's drive to post its first annual profit in European operations since 1998.
GM on Tuesday posted net income attributable to common shareholders of $2.77 billion for the period ended Sept. 30, up from $1.36 billion reported in the same period a year ago. The Detroit auto maker said operating profit excluding one-time factors equaled $1.72 a share, breezing past Wall Street expectations of $1.45 a share.
Revenue rose 10% to $42.83 billion, a quarterly record for the company and substantially higher than analyst forecasts of $39.3 billion for the period. Shares of GM rose above $33 in premarket trading, higher than the initial public offering price in 2010.
The results provide a view into GM nearly three years after Mary Barra took over as chief executive and encountered a costly safety crisis that dented earnings and cost billions of dollars to resolve. While missing a Europe profit target will cloud the company's string of record earnings performances in recent quarters, GM has emerged as one of the most profitable mainline car companies in the world.
..
10-25-2016, 09:07 PM
#53
Melting Slicks
This is what happens when you buy a car at msrp when invoice is 10 grand below it. It's going to be even worse for the Z06 crowd. Don't buy at msrp and you won't get your shirt stolen off your back.
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sam90lx (10-26-2016)
10-25-2016, 09:08 PM
#54
I think what the OP's seeing is a dismal trade-in offer, against what a new C7 can be bought for after a deep discount. Coupled with what Chevrolet dealers are asking for used C7s, it's disheartening to upgrade in dollars. Unless he can sell it private party, which I would think isn't too attractive for many buyers, versus buying from a dealer. I know I wouldn't be interested in buying used private party, on a C7.
10-25-2016, 09:49 PM
#55
Le Mans Master
I'll say this, when I first started to shop for a Corvette a year-and-a-half ago the prices on used to C7s was just stupid. People were commonly asking more than brand new ones and getting it apparently. So I ended up with a good C6 instead.
You know, when you buy a new car it's supposed to be worth 20% less the next day. That's just normal.
You know, when you buy a new car it's supposed to be worth 20% less the next day. That's just normal.
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sam90lx (10-26-2016)
10-25-2016, 10:06 PM
#56
Values may be down now, but just wait until the political winds blow new CAFE standards in that effectively make it impossible to produce sports cars with big V8 engines - then everybody holding one of these cars will see the turnaround.
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Flex182 (11-01-2016)
10-25-2016, 10:10 PM
#57
I think what the OP's seeing is a dismal trade-in offer, against what a new C7 can be bought for after a deep discount. Coupled with what Chevrolet dealers are asking for used C7s, it's disheartening to upgrade in dollars. Unless he can sell it private party, which I would think isn't too attractive for many buyers, versus buying from a dealer. I know I wouldn't be interested in buying used private party, on a C7.
10-25-2016, 10:32 PM
#58
Moderator
If you do a cash flow analysis on your method, I can't believe it's much different. My take on all this is people quit your whining and enjoy your life. It's not an investment.
10-25-2016, 10:39 PM
#59
Team Owner
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St. Jude Donor '12-'13-'14-'15-'16-'17
Over 100,000 C7s have already been sold. There will be no "turnaround" that makes them appreciate, at least not in the lifetime of most members here. If you want an appreciating asset stay away from mass produced Chevrolets.
10-25-2016, 10:46 PM
#60
Le Mans Master
Member Since: Sep 2012
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St. Jude Donor '15-'16,'18
New cars, with very few exceptions, are terrible investments. The higher priced ones usually take the biggest hits on depreciation. Look up what a 3 year old Bentley is worth. Corvettes are not an exception. They build a lot of them and discounts are plentiful. 