2014 Pricing
Thread Starter
Burning Brakes
Joined: Aug 2006
Posts: 1,147
Likes: 18
From: Thompsons Station Tennessee
2014 Pricing
I just finished browsing the C7 for sale forum. What I noticed that there were a lot of low mile "as should be" cars for sale for various reasons. What I find perplexing is that the sale prices are very close to MSRP. There are a few that will knock off up to $4000 off of MSRP but if they look at other cars on the forum, there are Dealers knocking off up to $8000 on new cars! I don't want to sound pessimistic but I would think that making a decision to buy a brand new car as opposed to a used one is a no brainer when the new one is thousands cheaper?
And yes I know everyone wants a deal and I am no exception. I have had 13 Corvettes and bought and sold most of them but none at the asking price.
Just my take on things.
And yes I know everyone wants a deal and I am no exception. I have had 13 Corvettes and bought and sold most of them but none at the asking price.
Just my take on things.
Race Director
Joined: May 2006
Posts: 16,854
Likes: 535
There may be many 2014 C7 owners just testing the market. Not serious about selling, but just curious as to whether they could sell the car after just a few months and not lose any money or perhaps make money.
The asking price will indicate who the serious used C7 sellers are.
The asking price will indicate who the serious used C7 sellers are.
Instructor
Joined: Oct 2013
Posts: 173
Likes: 23
There may be many 2014 C7 owners just testing the market. Not serious about selling, but just curious as to whether they could sell the car after just a few months and not lose any money or perhaps make money.
The asking price will indicate who the serious used C7 sellers are.
The asking price will indicate who the serious used C7 sellers are.
Melting Slicks
Joined: Feb 2013
Posts: 2,489
Likes: 579
From: Central Gulf Coast Florida
I took delivery on 10/1/13 at an MSRP of $71,000. My guess is that I might get $61,000 now. Vettes have a good resale value, but the drop the first year of a new generation is steep.
Instructor
Joined: Apr 2013
Posts: 106
Likes: 4
From: Driftwood, TX
New inventory discounts
New car inventory discounts seem to be higher on non-Z51's and convertibles - so if that is what your are after, then good deal.
Also most new inventory is highly optioned cars which has more margin (around 9% on base car and 12% on options), thus dealer can offer bigger discounts. Again great if you want them. I have not noticed any discount correlation on color but I bet the less popular colors will sit longer and will be further reduced along with the time value. JMO.
Also most new inventory is highly optioned cars which has more margin (around 9% on base car and 12% on options), thus dealer can offer bigger discounts. Again great if you want them. I have not noticed any discount correlation on color but I bet the less popular colors will sit longer and will be further reduced along with the time value. JMO.
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Le Mans Master
Joined: Oct 2001
Posts: 8,489
Likes: 917
From: Alaska
I been a member for well over 10 years and the one thing that has stayed constant is the vast majority of members here think there car is worth "gold" when they are trying to sell it. But when it is something they want to buy that car is only worth "lead".
Toss in the fact they can run a ad for free only compounds the issue.
Just my two cents worth.
Toss in the fact they can run a ad for free only compounds the issue.
Just my two cents worth.
Race Director
Joined: May 2006
Posts: 16,854
Likes: 535
I think a lot of 2014 owners (and dealers) are operating with a false sense of the market. When the '14s came out, especially in smaller markets the Corvette was a novelty and dealers had their way being able to charge MSRP or more. Those that paid such high prices still believe that they can (should) get close to that now...despite the fact that the car is a year old (even if new) and up to now, depreciation hasn't even been a factor. After review of the current market, one would ask the logical question of why should I buy a 2014 when I get a new 2015 for just a small amount more. When the depreciation factor finally hits home on the 2014 model year (probably within a month) as winter kicks in, you're going to see prices drop considerably.
Last edited by RedC7AZ; Oct 10, 2014 at 07:36 PM.
Race Director
Joined: Aug 2010
Posts: 12,641
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From: Houston TX
Instructor
Joined: Aug 2006
Posts: 222
Likes: 0
From: Texas
Vettes are alot better than vipers. My car stickered for $127,000 highest offer i have now is $73,000
Last edited by forensicsteve; Oct 11, 2014 at 07:45 AM.
Melting Slicks
Joined: Sep 2013
Posts: 2,299
Likes: 466
From: Long Island New York
The reality is the C7 supply has caught up to sales and that is why you see the 8% discounts on 2015 C7's - $5,000 on a $60,000 MSRP (which is either a 1LT Z51 Coupe, a 1LT Convertible or a 2LT Coupe) and more in terms of dollars, not percent on optioned, higher MSRP cars.
The used market will start to drop very quickly, and I would expect to see a low mileage (under 5,000 mi) 2014 that had an MSRP of $55,000 (2015 MSRP $60,000) sell for $47,500 (15% of original MSRP).
The used market will start to drop very quickly, and I would expect to see a low mileage (under 5,000 mi) 2014 that had an MSRP of $55,000 (2015 MSRP $60,000) sell for $47,500 (15% of original MSRP).
Thread Starter
Burning Brakes
Joined: Aug 2006
Posts: 1,147
Likes: 18
From: Thompsons Station Tennessee
You all are right!! I was just curious about what I would hear from my comments. When I think back to buying my first Vette, it was a 66 Convertible with only a radio and positraction. Sticker was $4600, I got it for $4000 and the Dealer had to trade off 2 sedans to get it. For the present, I think I will keep my 03 Convertible and put another 1500 miles on it next year!
Melting Slicks
Joined: Aug 2010
Posts: 2,345
Likes: 7
From: Hollywood CA
Team Owner
Joined: Jul 2006
Posts: 97,155
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From: Calgary, AB. There's a reason why white was the only color offered on every year Corvette. Proud Canadian German Jamaican!
St. Jude Donor '09, '12-'13-'14-'15-'16-'17
My C5 'vert MN6 with all options Black Booked for 21k last year (I sold it Sept 2013), it was an '03 with 120,000 kms, not too many 10 year old cars are worth that much and remember, Black Book isn't retail, add another 3k on to that selling it privately.