40% of Corvette Buyers Are Paying Cash
It probably comes as no surprise to you that more Corvette owners paid cash for their rides than for any other muscle cars. And that’s what Experian is claiming to be true.
According to the credit site (via CheatSheet), 0nly 56.9% of buyers financed the purchase of their new front-engine American sports car, which is an extraordinarily low number in the current market. There were 32,000 new Corvette registrations in the period of review, meaning that a full 12,896 Corvettes were purchased with cold hard greenbacks.
Melinda Zabritzki, Experian‘s senior director of automotive finance, explains it best:
“With the Viper and the Corvette being on the higher end of the muscle cars reviewed, it’s not that surprising that a higher percentage of consumers paid for them in cash. Our findings show that those buyers had the highest credit scores, which could indicate that they have more disposable income.”
When the Corvette is as good as the C7 variants are, it’s hard to argue that it isn’t worth the money. If you have the spare cash laying around, there are very few ways to spend it better than on a new ‘Vette.
Chime in with your thoughts on the forum. >>