Was offered 50000 for my 15 z51 coupe 2lt mag ride, pdr and chrome wheels 12,700 miles car listed for 69500 or so. Oh torch red.
Is this the going rate now 30% loss in 12 months.
The market that soft.
z51vett
Doug

 

From what I've seen the last few weeks that will re-sell at a dealer for about 57-60, so I think they're kind of low-balling you. I've been specifically looking for lightly used '15 z51 F55 NPP cars.

Oh, heh, 1st post I guess.

 

That might be a little soft but then no one paid retail for the car in the first place. Most seem to be getting almost 9 to 10% off on purchase which makes used ones selling for $57-60K more reasonable. Having said that, $50K trade-in is reasonable from the dealer standpoint because he has to make some money in it. He should be willing to put his mark up on the $50K and give you another $3 or $4K with enough haggling. Corvette or no Corvette, you are going to take a bath selling a car in the first year of ownership.

 

When I bought my '14 3LT Z51 used it was a year old and had 7,800 miles. It was $59 or about $15K less than the original MSRP of about $74K. With the same markdown, the dealer would resell your car for $55.5. Looks like you are in Georgia? I guess that's an advantage cause here in MN, a dealer would probably have to plan on sitting on it until spring before it would re-sell. In my neck of the woods, this time of year is a tough time to be selling a sports car - people generally won't be looking until spring unless they are looking to order a new one for spring delivery.

Also, I put the information you provided into KBB and came up with a trade in value of $51342 if its an Auto in excellent condition and $51642 if its a manual (interesting that according to KBB a manual is worth more )

Also, look at the discounts people are getting on new 2016's from the forum dealers. How high can you price a used one before potential buyers say "screw it I'll just get a new one"?

So the dealer might be a bit low, but in my experience not all that low. Guess you really have to want whatever it is you are trading on.

PS: just out of curiosity I put the information on my car (2014 Z51 3LT plus mag ride and NPP) into KBB and it came out $51,447 at trade in. So I guess its like I've always believed...that first year is a killer!

 

You can buy a new '16 at 8-9% off msrp right now. I'd figure $10-12K off for a '15 and the mileage so 52-53 would be what I would expect to see if the car you were trading it on was priced right.

You can always get more selling it private party, depending on your state you may lose 2-4K in tax savings so you have to figure that in the private party price.

 

Yeah I think market will not be good for Vettes for a while.

Seems like either production has gone way up or sales have gone way down.

When I went in for an oil change last week my dealer had over 30 Corvettes on the lot (8 of them being Z06).

In May, when I purchased, the dealer had a total of 6 on the lot and most of them were custom ordered and already spoken for.

 

Saw a 15 Z51 3LT last month with mag ride loaded, 11000 miles at a dealer. Could of been had for under $56000

 

As has been said often, cars are not good investments.

 

Indeed.

Trading in 1 year old cars you bought new is an expensive hobby no matter what the nameplate says.

 

Another factor to consider, you are entering the traditional "slow season" for Corvette sales, so any pre-owned vette a dealer takes in now could sit for MONTHS.

Good luck

 

About a month ago I almost pulled the trigger on trading in for a Z06
Was at $55.8k for my 14 3LT, MSRP 71k new. 6.5k miles.

 

I don't think I could do that deal, either. May as well ride it for a while,

 

I think the reason the price on the used ones are going down is because GM is pushing a lot of corvettes out of the factory.
Auto Trader has over 5300 2016 Corvettes for sale and over 1400 are ZO6
and I'm sure there are more corvettes on dealer lots that aren't on Auto Trader.

 

If this is accurate, it backs up my theory that there's gonna be some deals on Z06s this winter. That's a boatload of inventory for a car that typically MSRPs over $90k.

 

Even so, your car won't ever be worth more than it is today.

 

...all of which are being ordered by dealers to secure allocations for the next model-yr...
creating a downward-push on prices to clear-out the units from dealer lots.

 

Auctions results from 9/14/2015 to 12/14/2015.......these cars are bought at auction and can be seen marked up $3000-$6000 on dealers lots. Some never see a dealers lots, which can make the C7 a great buy at auction when having low miles. The condition of the vehicle is always listed.

 

I too entertained the thought of trading in my white/red '15 2LT, M7, Z51 on a new Z06, but the dealer tried to rape me on the trade. Other than "the three big corvette dealers," all the other dealers wanted sticker for a Z06. Dealers have to make a "reasonable" profit, of course. However, making $6k on my trade and another $6k on a Z06 is gouging.

 

I'd agree with most of the posts with how it's going at this time with Trade in prices.
To add to that, the Discounts are now at 12% for 2016's.
May not be a fair comparison but Traded my 2009 in 6 weeks ago for a 2016 with 9% discount off the 2016.
They gave me KKB pricing for it which I thought was low until I checked KBB and found they gave me Top Trade value.
Yes they'll sell it for more but probably not until Spring time.
In the last 6 weeks since I bought the 2016 at 9% off and now seeing 12% off I was like, gee if only I waited
But I just checked my 2009 Trade in Value on KBB, and it's Trade in Value dropped more than $1,500.00 since 6 weeks ago.
Wouldn't of made much difference if I had waited

 

I'd say the dealer is perhaps a bit low on the trade price, but not totally out of the ballpark. The first year drop in value is always a killer.