If want to keep value or go up. Get a C3 or last C2

 

It is GM, of course they will be $10k off and have tons of rebates. Probably this time next year when 2015s are hitting the lot and they are clearing out the 14s.

 

You are making the assumption that there will be lots of '14s sitting on the lots. I just don't see that being the case given how difficult it will be to get the first year car. You might be right in '16 for '15s on the lot but you will not see this for a couple of years. Demand early on will outstrip supply. When that stops, you will see the bigger discounts.

 

Probably true value wise. Unfortunately those cars suck massively compared with the new stuff. C2s and C3s are uncomfortable, slow, and generally just a PIA. You can have every one of those old rattletraps.

 

When the 05's came out they were still hot in the fall of 05, dealers around here were still asking 1-10K over MSRP. I think even Kerbeck was still at MSRP for the ones sitting on the lot.

This is a much nicer car!

 

You are missing the point here... C2s and C3s are collectibles. People don't buy them to race or track them. They don't buy them for technology. They buy them to collect cars and own a piece of history. The most expensive Ferrari in the world today isn't a current model year car!! It is an OLD one that performs NOTHING like the new ones.

So, someone buying a C2 isn't buying it worrying about rattles, performance, technology or anything like that.

 

It will certianly drop faster than buying one next year or later for 2 big reasons. One is what you hit on, next year you can get a much better deal after the hype wears off, maybe even later this year. Also the last 3 Models of Corvette's the First year has had a ton of issues, resale on the 1984, 1997, and 2005 is lower, most people avoid them.

Just my 2 cents, I personally would wait for a 2015. Get a much better deal and let them work out the bugs.

 

Exactly same thing that happened with the Charger, Camaro, and GT500. The GT500 was the worst, all those idiots paid $20-30K over MSRP and a year or so later they were going for MSRP. Think about that depreciation. One thing about the GT500 is it still goes for MSRP, Ford has done a good job keeping it up to date.

My bet would be rebates start on the 2015 model year. Under MSRP I think will start before that.

 

This 2014 c7 will hold close to msrp for at least three years...

GM will raise the msrp annually as well...(a grand. A year or there abouts)

Higher performance models will come and continue showroom traffic as well..keeping lstandard model hot.

This is not a surprise like the collapse of 2008 in the economy so demand for 2 seat sports cars in general wont fall off a cliff ...stuffing inventory at dealerships everywhere and production will struggle to meet demand....

History should not be used to determine there will be 10 grand discounts until possibly the final year of c7 production..(whenever that is)

As far as ownership of a 2014 and the desire to sell....shortly after purchase...worst case scenarios would be close to 24 and 36 month residuals...

Best case scenario for owners wishing to sell will be closer to the 5 grand a year depreciation as a private sale for the first three years.

I fully expect as the 8 speed automatic appears along with some other improvements..(if that's even possible price hikes at msrp will unfortunately occur.

Good for the private owner selling...bad for new corvette buyers..


Buying the 2014 is a smart move if the time is right for you to buy a new corvette..

I'm still impressed as hell that Greg2000 got 48 grand trade in on his 6 or 10 month old grand sport he paid 52 on a few months back.

I'd say Greg2000 made a smart move....

That's pretty rare to take such a minimal loss...

If you are buying a new 2014 c7 coupe with z51 and MRC npp and might want to move to a z06 should the mood strike...

I would assume slightly better residuals than the already impressive deal greg2000 got...as you trade in your c7 z51 with MRC and NPP.

I think those three options will continue to be high demand even on the secondary market.

The motivation to trade in versus sell privately is the savings many states offer on sales tax of the new purchase when trading in...

Otherwise your cost in sales tax alone could reach 5 grand in and of itself...depending on your state regulations and tax rate.

 

Who cares ! I am sure not buy it cause it is a good investment !!!

 

I liked all your points, but these are just wrong.

This is a car like any other car, nothing magical about it. It will not hold close to MSRP for one year, let alone 3 years. These same arguments were said about the C6. I bought my 2005 from a private party in April 2006. Car had 4500 miles on it, and a window sticker of 60k. Price paid=$45000. No one buys a car and expects it to hold any type of value what so ever, the only car of recent that comes to mind that bucks the trend was the Ford GT. But a mass produced car like the C7, no way. Mass availability=no rarity=year over year depreciation. That's how the market works.

Oh and people trade in their cars cause they are lazy and its way easier then dealing with knuckleheads who want to take your car out for a joy ride!

 

I could be wrong but I think JerriVette meant that the car would stay close to MSRP when sold new from a dealer for a couple of years... i.e. no significant dealer discounts. I agree with this but only because it will take a while to get through the initial larger demand and when that slows, the discounts will follow.

I agree that the minute it leaves the lot it will start to depreciate...period.

 

You could be right although I remember low mileage used c5 s selling very close to MsRp the first year back in 1997.

I think the c6 which I also own after two c5 s and a z06...were and are fine cars..I'm not quite sure they were as revolutionary as the c5 was.

What the c7 will be...whether it leans more towards the c5 or the c6 with regards to being seen as revolutionary or evolutionary by consumers in the marketplace is still up for debate...

I gave three actual scenario projections of what depreciation could be like on the new c7 in the first, second and third years..

With each discussion or scenario it offers the original poster a good range of where he will be should he decide to sell early on.

Consider each of the three scenerios I mentioned and lean towards the one that each of you believe to hold true...

Only time will tell and of course there are always exceptions..

Thank you for the complement even if we disagree...although I will mention my preferred suggestion on value depreciation is approximately 5 grand a year for the first three years as the best guideline so in actuality we are in agreement.

Remember I mentioned Lease residuals should be the worst case scenerio for private sale situations...within allotted time frames.

Gthal you are correct as I feel GM is in a much better position to hold the balance between demand and supply of the new generation corvette than they were with the c6. Also of note is the fact the original c6 was initially paired with the very low volume Cadillac XLR and that was part of its relatively mild generational shift. (Again not an insult to the wonderful C6 )

Gm will or could also mildly raise the price(~1000 dollars) annually on the c7...IMO

I do believe a C7 in traditional colors (ie torch red and black)with z51, MRC and NPP with the manual 7 speed will offer the greatest attraction in the residual pricing.

Just shooting the breeze ...

 

Someone remember to come back to these threads in 3 years and compare C7 resale guesstimates to reality.

 

I did the same thing here 6 years ago and my formula turned out very accurate. Everybody can do a search and find my responses to these issues many times. I have done lengthy studies on the subject.

I would also like to add for those who want to claim that Corvettes have such poor depreciation because they are "mass produced cars" that the Corvette has been on the top 10 list for Edmund's highest resale value after 5 years since at least the last 12 years that I know of. ALL cars depreciate approximately the same. There is very little difference between the best and the worst with some exceptions. A discontinued/limited production specialty may be the exception on the upside. And I DON'T mean Porsche. That's mass produced too.

If I get energetic I'll find the previous posts or make a new one describing my formula for depreciation.

 

There are two unknowns right now. First will there be any significant mechanical issue ? And second will there be a performance increase in the first couple years.

My 01 z06 ended up being the one year only 385 hp car and of course still today is known as a " oil burner ". Neither did wonders for resale.

 

...so says drMUSTANG.

 

 

Here's my prediction. In 2017 you will see $70,000 3LT 2014 stingrays with 25,000 miles retailing for $38,500.then they will level off in the mid to low $30k range for the next 3 years.
I am basing this on my own experience when I purchased a 2007 vette in 2010.

 

I'm sorry, what part of my post is incorrect?

Are the old cars fast? NO

Are the old cars comfortable? NO

Are the old cars a PIA to tune and keep in running order? YES

Some guys love the old Vettes and I respect that. I wrestled with those old jackass carts for years and have first hand, very extensive experience with them. You would have to be nuts to prefer those heaps to what is available now.