boonie c4

I recently was contacted by the Chevy dealership's sales manager that I had purchased my 2012 G.S. Corvette from with a offer to buy back my Corvette at $2k more than I paid for it 3 years ago, sight unseen. So I took my Corvette to Carmax for estimated they only offered -$1k less than my original purchase price, so what's going on here that's caused my Corvette to appreciate in price? For example my friend 9 months ago paid $52k for his 2017 C7 Z06 now that same dealership offered him $72k to buy it back. How long will these good times last?

saplumr

Until the factories get back to full speed. There is little inventory of any vehicles right now.

QuickSilver20

Also this is the used car market in general with all cars for the most part. A lot of plants were shut down due to COVID and are still experiencing supply chain shortages so less new cars are being produced. This in turn is causing less incentives for new cars and having a downstream impact of used cars holding their value better.

87SAM

Until you have the cash in your hand, I would be wary of any stipulations.

R&L's C6

Straight out purchase buy back or on a trade? Used auto market is up, but not that much.

Dano523

Really easy, with Covid causing the price of cars to sky rocket, either dealer has a buyer that wants your car, or wants to get you into newer vet, and why the offer in the first place. The glitch with this, is the all the prices of cars have skyrocketed, and if you sell your car now, and try to pick up another at the same time, will be dealing with skyhig prices on the new one as well.

So my take, if you are looking to pick up say a C8 when the prices do drop back down/normal out again, don't mind being without a vet for a while, let him have the car if in fact he is going to buy the car back at the total OTD price you paid, with a 2K extra as well. The C8 grand sport is expected to be around $70K, and would be a win/win for both you and the dealer.

DSOMC6

Many auto dealerships mail-out, make calls etc with offers to buy your vehicle (for some inflated price) quite often as part of marketing. It's simply a ploy to get you on the premises and they couldn't care less how po'd the vehicle owner gets when they don't even come close to the original price offered.

Try selling it directly to said dealership for the price quoted and see what the outcome is.

OlyC6

The over-market offer is the hook... then once you pull your rig into their bay... the magnifying glass is out.. and they will most likely nickel & dime the value down to something in their favor so when they resell the rig.. they will maximize margin.