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All new cars take a huge hit the first year... the real issue is year 2-4. Corvettes actually hold their value over a 4 year period better than most cars.
So I was looking at the price of used c7s on cargurus and wow does the price drop
That's more than 10,000 in 2 years
With a price like that, what does a 2016 have that the 14's and 15's don't?
First it is 2 or 1 year NEWER ...second as one laughing person said earlier .... a front end camera plus the two toned seat option and third colors that are not available on the 2 previous years. Amazing how people shoot down things that THEY DON'T HAVE or COULDN'T GET.
The price drops, as they should. As others have said, vette prices hold up pretty well, but a 2014 is now 2 years old and the 2017's will be rolling off the production line at the end of June, making the 14's 3 years old, which is just over 2 months from now. Give those 14's another 4 or 5 months, and they'll drop another 5 grand.
First it is 2 or 1 year NEWER ...second as one laughing person said earlier .... a front end camera plus the two toned seat option and third colors that are not available on the 2 previous years. Amazing how people shoot down things that THEY DON'T HAVE or COULDN'T GET.
2016's also have the pull down retractor on the hatch, hardware (and now software) for Android Auto and Apple's CarPlay.
A brand New 2016 3LT Z51 coupe can be purchased right now at Kerbeck for $70,396 so the depreciation isn't that great. The other 2 cars are almost 3 model years old. A brand new 2016 1LT can be purchased at Kerbeck right now for $51,250 vs $44,995 for a 2014 with over 31,000 miles.
The bargain is the 2014 Z51 3LT...that's a savings of almost $18k. However there are dealers on this forum offering $20k off list for 2015 leftovers/ demos if yellow is your color.
I'm really not seeing bargains out there on used Stringrays just yet.
Last edited by direct007; Apr 13, 2016 at 07:19 PM.
This doesn't surprise me at all. 2 years difference, lower miles, who knows what other options either car has outside of the 3LT interior, car history, etc.
Purchasing a new car will always be a bad 'financial investment' - they all depreciate. I've been pretty happy with how the C7 prices seem to be holding up. Better than many/most, but still depreciating for sure.
For me, purchasing a new C7 was an 'emotional investment'. I can guarantee you, from MPOV, I've certainly received more than $5k/year of enjoyment. My wife agrees too. Converted her on the first long road trip. She gets it for sure too.
Many makes/models depreciate much faster. Really took a financial bath by buying a new Maserati Gran Turismo S as few years back, but I sure enjoyed it. But I like the C7 sooooo much more.
Last edited by Hopper12; Apr 13, 2016 at 10:20 PM.
I just bought a 2014 silverado ltz to upgrade my daily driver, it's a nice truck, but after detailing it you notice all the little issues that exist from a careless previous owner, (very minor, but the I will always know) my corvette is still perfect though as I bought it new take care of it
And the problem with depreciation is that unless you are driving a 10 year old vehicle with 150k miles, you are going to have to absorb some of it
Last edited by awright2009; Apr 13, 2016 at 10:35 PM.
From what I can tell, cars lose roughly 15% of their value each year. A rule of thumb is a loss of 50% of value every 5 years. It seems like the first year is worse because 15% of big number is larger than 15% of a smaller number.
All new cars take a huge hit the first year... the real issue is year 2-4. Corvettes actually hold their value over a 4 year period better than most cars.
Truth. You're going to take a big hit the moment you buy the car. After that, year 1 and 2 depreciate the fastest. After year 3 and 4 start to go on, they don't depreciate as much in general.
66k for that used 2016 3LT Z51 is damn high... I can buy a brand new fully loaded one for 70k from Kerbeck/McMulkin/Conti. So if you think about it, after 1 year it only lost 4k; not bad at all IMO
As for the older models, they lose more "value" because they lack some of the options that people have grown to not be able to live without (Front Curb Camera, A8 Transmission, etc)
Depreciation
