Values tanking
10-26-2016, 11:03 PM
#81
When I traded in my 2014 they pulled up the auctions and offered me auction value. I said I couldn't do that so they offered me $2K over auction value to make the deal. So I ended up getting Auction value + $2,000 + extra 7% in tax savings ... that amount turned out to be what dealers were asking used or on eBay ... so I took the deal. Plus letting dealer handle everything and not selling privately does have some value. Keep in mind also when trading you have to look at both sides of the deal ... Dealer can charge you MSRP for new car and give you crazy high Trade in value. Or they can give you crazy MSRP discount but crappy trade-in value.
JUST REMEMBER THIS EVERYTIME YOU THINK ABOUT TRADING IN YOUR PRACTICALLY BRAND NEW "EARLY" C7 Z51 CAR FOR A BRAND NEW C7 Z OR C7 G/S. THE HOUSE ALWAYS WINS. NO MATTER WHICH WAY YOU SPIN IT, THE HOUSE ALWAYS WINS. No that being said, I know everyone including myself wants the latest and greatest thing and Chevrolet is making it extremely tempting to purchase a brand new Corvette. Regardless if its the GrandSport, the Z51, the base, or the Z06...They are def offering some absolutely amazing deals on all of their cars in general to push that inventory off their lot. Honestly they probably only make a few bucks.. They make there money in service and in there finance department. Thats where the money is made! Chevrolet is pumping out so many of these c7's they dont know what to do with them... literaly... Today I saw a 2016 Stage 3 pack Z06 arctic white with black interior, carbon ceramic brakes, Comp seats, with 298 miles on it..It sold for $71,000.00. Thats well over a $109k car selling for $40k cheaper than what it should be...They need to stop pumping these things out to be honest..
I randomly saw this 70-80 year old women driving a new c7 z06 a8 vert the other day and I felt so damn sorry for that car... I dont think she ever passed 2k rpm's...
such a waste of a car...IMHO
The following users liked this post:
pbergmann (10-27-2016)
10-26-2016, 11:29 PM
#82
The c6 sold in high volume for 4 model years. then slowed down.
So far its the same as the c7.
http://tech.corvettecentral.com/2013...ction-numbers/
So far its the same as the c7.
http://tech.corvettecentral.com/2013...ction-numbers/
Of course, C6 MY 5 also happened to coincide w/ the "Great Recession of 2008," when GM was also flirting w/ bankruptcy until the "great bailout."
Last edited by Foosh; 10-26-2016 at 11:30 PM.
10-27-2016, 12:51 AM
#84
Team Owner
Member Since: Sep 2001
Location: Denison, TX
Posts: 22,551
Received 232 Likes
on
119 Posts
2022 C8 of the Year Finalist - Unmodified
CI 3-4-5-6-7-8-9-10 Veteran
St. Jude '03-'04-'05-'06-'07-'08-'09-'10-'16
It's a car. They depreciate.
I don't understand how this is a surprise!
I don't understand how this is a surprise!
10-27-2016, 07:14 AM
#85
"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?
We've been down this road. As with EVERY new gen of Corvette, the first year or two is the worst as far as short/medium term value goes -- prices are at or above MSRP due to initial high demand. A few short years later, things are back to normal, with all GM discounting available, and pop goes the little bubble.
First ones in get hit hardest. But they also got to play with the newest toy first!
What kind of "value holding" were you expecting from a regular production GM car?
We've been down this road. As with EVERY new gen of Corvette, the first year or two is the worst as far as short/medium term value goes -- prices are at or above MSRP due to initial high demand. A few short years later, things are back to normal, with all GM discounting available, and pop goes the little bubble.
First ones in get hit hardest. But they also got to play with the newest toy first!
They will really go bat crap crazy when the C8 hits the streets.
Glad I have a C4, I could care less about the value.
The following users liked this post:
pbergmann (10-27-2016)
10-27-2016, 01:57 PM
#88
Team Owner
JUST REMEMBER THIS EVERYTIME YOU THINK ABOUT TRADING IN YOUR PRACTICALLY BRAND NEW "EARLY" C7 Z51 CAR FOR A BRAND NEW C7 Z OR C7 G/S. THE HOUSE ALWAYS WINS. NO MATTER WHICH WAY YOU SPIN IT, THE HOUSE ALWAYS WINS. No that being said, I know everyone including myself wants the latest and greatest thing and Chevrolet is making it extremely tempting to purchase a brand new Corvette. Regardless if its the GrandSport, the Z51, the base, or the Z06...They are def offering some absolutely amazing deals on all of their cars in general to push that inventory off their lot. Honestly they probably only make a few bucks.. They make there money in service and in there finance department. Thats where the money is made! Chevrolet is pumping out so many of these c7's they dont know what to do with them... literaly... Today I saw a 2016 Stage 3 pack Z06 arctic white with black interior, carbon ceramic brakes, Comp seats, with 298 miles on it..It sold for $71,000.00. Thats well over a $109k car selling for $40k cheaper than what it should be...They need to stop pumping these things out to be honest..
I randomly saw this 70-80 year old women driving a new c7 z06 a8 vert the other day and I felt so damn sorry for that car... I dont think she ever passed 2k rpm's... such a waste of a car...IMHO
I randomly saw this 70-80 year old women driving a new c7 z06 a8 vert the other day and I felt so damn sorry for that car... I dont think she ever passed 2k rpm's...
such a waste of a car...IMHOThen she returns the next year and at 82 years of age, rips off a 171 MPH run. Top speed of a 350 HP C5 coupe is 176 MPH, so she wasn't leaving anything on the table.
When was the last time you ran 97% of your Z06's top speed in your 650 HP Z06? I feel so sorry for YOUR Z06.
Last edited by JoesC5; 10-27-2016 at 02:12 PM.
The following users liked this post:
mschuyler (10-27-2016)
10-27-2016, 02:35 PM
#89
I agree. What a waste of 300 horsepower when a 81 year old grandmother can drive 166.3 MPH with only 350 horsepower in her C5.
https://youtu.be/nOyyRM7wS70
Then she returns the next year and at 82 years of age, rips off a 171 MPH run. Top speed of a 350 HP C5 coupe is 176 MPH, so she wasn't leaving anything on the table.
https://youtu.be/ifI1Nof3ZVs
When was the last time you ran 97% of your Z06's top speed in your 650 HP Z06? I feel so sorry for YOUR Z06.
https://youtu.be/nOyyRM7wS70
Then she returns the next year and at 82 years of age, rips off a 171 MPH run. Top speed of a 350 HP C5 coupe is 176 MPH, so she wasn't leaving anything on the table.
https://youtu.be/ifI1Nof3ZVs
When was the last time you ran 97% of your Z06's top speed in your 650 HP Z06? I feel so sorry for YOUR Z06.
The following users liked this post:
pdiddy972 (10-31-2016)
10-27-2016, 02:48 PM
#91
Team Owner
Okay. Car & Driver did instrumented testing of the 2009 Z06(just like mine, and with a measly 505 horsepower) and it accelerated from zero to 150 MPH in 17.4 seconds.
They also did the exact same testing of a 2015 Z06 and it took 17.8 second to reach 150 MPH. This senior citizen(me) is not afraid to accelerate his C6 Z06 at WOT to high speeds, and I just proved that the 82 year old grandmother has probably driven her C5 at a higher top speed than most of the "youngsters" in their C7's.
The person that I responded to was trying to denigrate an old lady because he thought she was wasting her precious Z06's horsepower.
Well, I posted up videos of an old lady driving the snot out of her car, so there is absolutely no reason to rag on senior citizens driving high powered Corvettes in a store's parking lot at less than WOT. And then he tries to further denigrate senior citizens by him saying she would probably wreck her Corvette in the parking lot.
The speed limit on the expressway close to me is 70 MPH. So let's take our Z06's out there and run up to 70 MPH. And since we will be breaking the law by driving faster than 70, lets go all out and do a 70 MPH acceleration run all the way to 198 MPH. This 74 YO senior citizen in his C6 Z06 against you(how old are you?) in your C7 Z06. Okay? If you get to 198 before I do, I'll pay your travel expenses.
They also did the exact same testing of a 2015 Z06 and it took 17.8 second to reach 150 MPH. This senior citizen(me) is not afraid to accelerate his C6 Z06 at WOT to high speeds, and I just proved that the 82 year old grandmother has probably driven her C5 at a higher top speed than most of the "youngsters" in their C7's.
The person that I responded to was trying to denigrate an old lady because he thought she was wasting her precious Z06's horsepower.
Well, I posted up videos of an old lady driving the snot out of her car, so there is absolutely no reason to rag on senior citizens driving high powered Corvettes in a store's parking lot at less than WOT. And then he tries to further denigrate senior citizens by him saying she would probably wreck her Corvette in the parking lot.
The speed limit on the expressway close to me is 70 MPH. So let's take our Z06's out there and run up to 70 MPH. And since we will be breaking the law by driving faster than 70, lets go all out and do a 70 MPH acceleration run all the way to 198 MPH. This 74 YO senior citizen in his C6 Z06 against you(how old are you?) in your C7 Z06. Okay? If you get to 198 before I do, I'll pay your travel expenses.
Last edited by JoesC5; 10-27-2016 at 05:05 PM.
The following users liked this post:
Flex182 (11-01-2016)
10-27-2016, 03:10 PM
#92
Team Owner
Yep, in MY years 1-4, the C6 was built in the same numbers as the current C7. In MY year 5, production fell to 1/2 of the previous production numbers.
Of course, C6 MY 5 also happened to coincide w/ the "Great Recession of 2008," when GM was also flirting w/ bankruptcy until the "great bailout."
Of course, C6 MY 5 also happened to coincide w/ the "Great Recession of 2008," when GM was also flirting w/ bankruptcy until the "great bailout."
The C7 has recently gone into their 4th year of production, and sales are falling faster than sales of the C6 early into it's 4th year of production.
GM did not offer 10% rebates on left over 2007's(3rd year of production), like they are doing on left over 2016's(3rd year of production), to move them off the dealer's lots. They didn't have to.
The following users liked this post:
Micster (10-27-2016)
10-27-2016, 03:15 PM
#93
Yes, I know, first they flirted, then they did it. I was on Capitol Hill and worked on the bailout. Sounds like we're saying exactly the same thing. The law of supply and demand has a uncanny way of rationalizing markets.
Last edited by Foosh; 10-27-2016 at 03:19 PM.
10-27-2016, 04:34 PM
#94
Racer
Speaking of C6 Z06s; I bought my 06 Z06 in the summer of 09, price was in the low 40's for a mid $60K MSRP car, if I recall correctly. So here we are three years into the C7 and folks are complaining that the prices are dropping, I’d say they are about right, actually a little high. It seems they are only now starting to dip below $50K for a 14 mid $60K MSRP car. We should see those cars selling in the low $40K range next year using recent Corvette history as a guide.
10-27-2016, 04:51 PM
#95
Race Director
Member Since: Sep 2006
Location: (S) Walton County NW FL
Posts: 10,712
Received 1,101 Likes
on
853 Posts
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.
..
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.
..
10-27-2016, 05:08 PM
#96
Team Owner
10-27-2016, 05:20 PM
#97
If you really want a GS then sell your own, wait until the end of the run 17's when the throw incentives and rebates on all of the flood of GS they well have to move. Plus if did not notice the US economy is in a world of hurt now.
10-27-2016, 06:46 PM
#98
Melting Slicks
Member Since: May 2006
Location: Williamsburg VA
Posts: 3,498
Received 517 Likes
on
303 Posts
St. Jude Donor '08-'09-'10-'11-'12-'13-'14-'15-'16
Just looks that way
I think it just looks worse because of the high starting value. Was just offered $43k on a $70k 2014 vert. That's 60% of original MSRP. 2014 is 4 model years old, looks like the car dropped an average of 10%/MY. Now, look at a $80k vert and losing the same 10%/MY and you can expect an offer at $48k. Still 60% of original MSRP, but, now it LOOKS like a whole lot worse. Still 60% value after 4 MY isn't that bad IMHO.
10-28-2016, 12:14 AM
#99
JUST REMEMBER THIS EVERYTIME YOU THINK ABOUT TRADING IN YOUR PRACTICALLY BRAND NEW "EARLY" C7 Z51 CAR FOR A BRAND NEW C7 Z OR C7 G/S. THE HOUSE ALWAYS WINS. NO MATTER WHICH WAY YOU SPIN IT, THE HOUSE ALWAYS WINS. No that being said, I know everyone including myself wants the latest and greatest thing and Chevrolet is making it extremely tempting to purchase a brand new Corvette. Regardless if its the GrandSport, the Z51, the base, or the Z06...They are def offering some absolutely amazing deals on all of their cars in general to push that inventory off their lot. Honestly they probably only make a few bucks.. They make there money in service and in there finance department. Thats where the money is made! Chevrolet is pumping out so many of these c7's they dont know what to do with them... literaly... Today I saw a 2016 Stage 3 pack Z06 arctic white with black interior, carbon ceramic brakes, Comp seats, with 298 miles on it..It sold for $71,000.00. Thats well over a $109k car selling for $40k cheaper than what it should be...They need to stop pumping these things out to be honest..
I randomly saw this 70-80 year old women driving a new c7 z06 a8 vert the other day and I felt so damn sorry for that car... I dont think she ever passed 2k rpm's... such a waste of a car...IMHO
I randomly saw this 70-80 year old women driving a new c7 z06 a8 vert the other day and I felt so damn sorry for that car... I dont think she ever passed 2k rpm's...
such a waste of a car...IMHO
10-28-2016, 10:26 AM
#100
Melting Slicks
Yep, in MY years 1-4, the C6 was built in the same numbers as the current C7. In MY year 5, production fell to 1/2 of the previous production numbers.
Of course, C6 MY 5 also happened to coincide w/ the "Great Recession of 2008," when GM was also flirting w/ bankruptcy until the "great bailout."
Of course, C6 MY 5 also happened to coincide w/ the "Great Recession of 2008," when GM was also flirting w/ bankruptcy until the "great bailout."
I make decent money but not enough to afford the msrp cliff these cars fall off of from early buyers. I'd rather get that invoice pricing at 0% offered 3-4 years into production.