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Values tanking

 
Old 10-25-2016, 04:49 PM
  #41  
managerman
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Originally Posted by Streetrod782 View Post
I guess I don't get the GS craze. I have a Z51 which I've made my own, headers, side skirts, etc. I could never ever drive a Z51 to its limits on the street or at the track for that matter. At one time the C7 Z51 used to be considered a track beast and now all of a sudden it's yesterday old news. The car will still out perform 99% of the cars on the road. Enjoy what you have and make it your own!!! It's a gorgeous car.

I have done the same thing....no need for the GS for me...

-M


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Old 10-25-2016, 04:57 PM
  #42  
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Originally Posted by bbrown450 View Post
Been shopping for a while, with winter setting in up North and West... it will only get better/worse, depending on which end you are on. You think values are in the tank on 2016 C7's, try selling a 2016 Camaro!! I took a huge hit, but managed to "claw" my way back up in my trade in value when I used that as leverage to buy my latest C7 LB Z51-3LT w/ MRC & NPP, had 2.5k on the ticker...$54k.
I had to drive 800+ miles but well worth it
So true on the Camaro!~Traded my '17 Camaro RS with only 2000 miles...MSRP $33,305 Trade in value $25,000. That for a car with only $1300 markup to invoice!
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Old 10-25-2016, 04:58 PM
  #43  
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My dealer gave me $33K trade in May for my 2009 C6 Vert. 3LT with 6K miles, on a major discounted 2016
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Old 10-25-2016, 05:16 PM
  #44  
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Originally Posted by bbcb View Post
I have my 2016 c7 auto 2lz 1400 miles listed for $ 46,800 ..no takers.. $ 65,000 sticker 13 months ago...
Great price and I am sure you will sell it. Patience is important.
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Old 10-25-2016, 05:27 PM
  #45  
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GM is not helping" -- how so? How should GM be "helping"?
What kind of "value holding" were you expecting from a regular production GM car?

Yrs ago someone started a myth that every new corvette was somehow going to be a rare collector we all see the threads. 1 of xxx....build date blah...none of it really matters. Take the hit enjoy what you got
how could anyone buy a new car and expect not to lose thier shirt?
mass produced Chebbies not foreign exotics.
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Old 10-25-2016, 05:33 PM
  #46  
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Great for us shareholders!

GM is making a ton of money. These numbers below are for the 3rd Q only.

GM Earnings More Than Double

General Motors Co. doubled net income and notched record revenue in the third quarter amid strong truck sales in the U.S., but Brexit fallout threatens to derail the auto maker's drive to post its first annual profit in European operations since 1998.

GM on Tuesday posted net income attributable to common shareholders of $2.77 billion for the period ended Sept. 30, up from $1.36 billion reported in the same period a year ago. The Detroit auto maker said operating profit excluding one-time factors equaled $1.72 a share, breezing past Wall Street expectations of $1.45 a share.

Revenue rose 10% to $42.83 billion, a quarterly record for the company and substantially higher than analyst forecasts of $39.3 billion for the period. Shares of GM rose above $33 in premarket trading, higher than the initial public offering price in 2010.

The results provide a view into GM nearly three years after Mary Barra took over as chief executive and encountered a costly safety crisis that dented earnings and cost billions of dollars to resolve. While missing a Europe profit target will cloud the company's string of record earnings performances in recent quarters, GM has emerged as one of the most profitable mainline car companies in the world.

..

Last edited by nmvettec7; 10-25-2016 at 05:34 PM.
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Old 10-25-2016, 05:36 PM
  #47  
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I really don't care about depreciation. I'm driving my '14 Z51 3LT until they stop making gasoline or I die. To me the car is priceless!
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Old 10-25-2016, 06:14 PM
  #48  
GreenGA
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Originally Posted by RedC7AZ View Post
Dealerships are selling leftover ONE YEAR OLD "new" 2016s for 20% off.
Sell the car yourself and forget the lowball trade offer.
Well, not all dealerships... Today I found a leftover Z06 that really piqued my interest but so far the dealer thinks his 3k discount is sufficient.

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Old 10-25-2016, 07:18 PM
  #49  
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Buy a boat. Then the depreciation on the corvette will look great!
john
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Old 10-25-2016, 08:40 PM
  #50  
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Was thinking about upgrading my 14K mile 2015 3LT Z51 coupe to a 2016 equipped identically, (but of course with front cameras, extra tranny cooling, pull down hatch, and D steering wheel), but the trade in offered on mine was pitiful so I will keep it a while longer.

I don't track it so don't really need the extra cooling and I have a curb alert for the front and it's not that big a pain to push the hatch closed. I'll wait till something leaps and bounds ahead of my C7 comes along and then think about taking my licks.
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Old 10-25-2016, 08:49 PM
  #51  
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^^^^ I'm curious what you all are being offered for trades on Z51 cars. I'm on the other side of this and often see 2014/2015 cars listed for $50 - $54 for 2LT and $52 - $56 for 3LT. I like to have an idea what these dealers have into them. If anyone cares to share this information, reply or PM is fine. Thanks.

Last edited by Steven Bell; 10-27-2016 at 12:07 AM. Reason: No need to re-quote the previous post, especially if you're the next person posting.
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Old 10-25-2016, 09:07 PM
  #52  
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Originally Posted by nmvettec7 View Post
Great for us shareholders!

GM is making a ton of money. These numbers below are for the 3rd Q only.

GM Earnings More Than Double

General Motors Co. doubled net income and notched record revenue in the third quarter amid strong truck sales in the U.S., but Brexit fallout threatens to derail the auto maker's drive to post its first annual profit in European operations since 1998.

GM on Tuesday posted net income attributable to common shareholders of $2.77 billion for the period ended Sept. 30, up from $1.36 billion reported in the same period a year ago. The Detroit auto maker said operating profit excluding one-time factors equaled $1.72 a share, breezing past Wall Street expectations of $1.45 a share.

Revenue rose 10% to $42.83 billion, a quarterly record for the company and substantially higher than analyst forecasts of $39.3 billion for the period. Shares of GM rose above $33 in premarket trading, higher than the initial public offering price in 2010.

The results provide a view into GM nearly three years after Mary Barra took over as chief executive and encountered a costly safety crisis that dented earnings and cost billions of dollars to resolve. While missing a Europe profit target will cloud the company's string of record earnings performances in recent quarters, GM has emerged as one of the most profitable mainline car companies in the world.

..
That's great news. I was unaware, thanks for the post. 😊
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Old 10-25-2016, 09:07 PM
  #53  
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This is what happens when you buy a car at msrp when invoice is 10 grand below it. It's going to be even worse for the Z06 crowd. Don't buy at msrp and you won't get your shirt stolen off your back.
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Old 10-25-2016, 09:08 PM
  #54  
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I think what the OP's seeing is a dismal trade-in offer, against what a new C7 can be bought for after a deep discount. Coupled with what Chevrolet dealers are asking for used C7s, it's disheartening to upgrade in dollars. Unless he can sell it private party, which I would think isn't too attractive for many buyers, versus buying from a dealer. I know I wouldn't be interested in buying used private party, on a C7.
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Old 10-25-2016, 09:49 PM
  #55  
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I'll say this, when I first started to shop for a Corvette a year-and-a-half ago the prices on used to C7s was just stupid. People were commonly asking more than brand new ones and getting it apparently. So I ended up with a good C6 instead.
You know, when you buy a new car it's supposed to be worth 20% less the next day. That's just normal.
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Old 10-25-2016, 10:06 PM
  #56  
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Values may be down now, but just wait until the political winds blow new CAFE standards in that effectively make it impossible to produce sports cars with big V8 engines - then everybody holding one of these cars will see the turnaround.
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Old 10-25-2016, 10:10 PM
  #57  
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Originally Posted by Skid Row Joe View Post
I think what the OP's seeing is a dismal trade-in offer, against what a new C7 can be bought for after a deep discount. Coupled with what Chevrolet dealers are asking for used C7s, it's disheartening to upgrade in dollars. Unless he can sell it private party, which I would think isn't too attractive for many buyers, versus buying from a dealer. I know I wouldn't be interested in buying used private party, on a C7.
Indeed that's the other factor on cars like this - most people will not buy a $50K+ used car from a private party. Too much risk. That empowers dealers to low ball trade in values because they know that private party sales are impossible and people are stuck with their cars unless they trade them in. Its not just this brand, its true across all cars. Which is why I mostly lease now - no worry about trade in values if you flip to another car every 3 years.
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Old 10-25-2016, 10:32 PM
  #58  
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Originally Posted by nyca View Post
Which is why I mostly lease now - no worry about trade in values if you flip to another car every 3 years.
If you do a cash flow analysis on your method, I can't believe it's much different. My take on all this is people quit your whining and enjoy your life. It's not an investment.
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Old 10-25-2016, 10:39 PM
  #59  
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Originally Posted by nyca View Post
Values may be down now, but just wait until the political winds blow new CAFE standards in that effectively make it impossible to produce sports cars with big V8 engines - then everybody holding one of these cars will see the turnaround.
Over 100,000 C7s have already been sold. There will be no "turnaround" that makes them appreciate, at least not in the lifetime of most members here. If you want an appreciating asset stay away from mass produced Chevrolets.
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Old 10-25-2016, 10:46 PM
  #60  
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Originally Posted by Zjoe6 View Post
If you do a cash flow analysis on your method, I can't believe it's much different. My take on all this is people quit your whining and enjoy your life. It's not an investment.
New cars, with very few exceptions, are terrible investments. The higher priced ones usually take the biggest hits on depreciation. Look up what a 3 year old Bentley is worth. Corvettes are not an exception. They build a lot of them and discounts are plentiful.
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