Options that give you the least value for the price
03-13-2018, 02:42 PM
#61
Team Owner
As time goes on, the options you've added to your new C7 will be worthless in the resale market anyways. You just need to look at the prices of used C5s and C6s right now, you won't get any extra money for the cars that have the top trim level or Z51 or the transparent roof, etc. The value is determined by the overall condition of the car and the mileage on it.
And even in the short term, extra options don't add much value. If you add $15,000 in options and sell your car 2 years later you probably won't even get $5000 extra compared to the same car with zero options.
And even in the short term, extra options don't add much value. If you add $15,000 in options and sell your car 2 years later you probably won't even get $5000 extra compared to the same car with zero options.
Bingo! that's is why I spent on a new 1lz and comp seats. With the 30k saved from buying loaded. I bought a new truck as well.
Have your cake and eat it too!
Options are winners for the new dealer but purchase loser's raising your cost with not much actual value
The following users liked this post:
Patman (03-13-2018)
03-13-2018, 03:04 PM
#62
Tech Contributor
Member Since: Oct 1999
Location: Charlotte, NC (formerly Endicott, NY)
Posts: 40,089
Received 8,928 Likes
on
5,333 Posts
Very subjective, and largely depends on who you will be selling the car to. Trading the car to a dealer, one should not expect to get anything back. For private party, it is a whole different game. Someone may be looking specifically for PDR, HUD, Aero package, stripes, specific color, etc. This person will be willing to pay more to get what he wants. When I was buying my car, new, I had specific options I was looking for and wouldn't compromise for lower price. If I were to buy used, it would have been the same. I'd be willing to pay more to get what I want.
That being said, there are few options that are very overpriced, like the carbon dash, carbon roof, carbon hood insert, aero package. They look very good, but the price is steep. I personally have the carbon dash and the exposed carbon aero package. Too pricey, yes.... but I wanted it.
That being said, there are few options that are very overpriced, like the carbon dash, carbon roof, carbon hood insert, aero package. They look very good, but the price is steep. I personally have the carbon dash and the exposed carbon aero package. Too pricey, yes.... but I wanted it.
Sometimes getting some of the price of the option back on resale isn't what counts. Take the 3LZ option. On the used market after a couple of years it doesn't add a lot of value since there are so many 2LZs available and a car is car to a large number of used purchasers who are also looking to stretch their money to get into a newer Corvette.
However, if your car is a 3LZ being compared to a 2LZ at about the same price the 3LZ interior brings more attention and a higher likelihood of sale after prospective buyers sit in both of them.
Then you have something like the NAV/PDR. For most drivers it won't make a lot of difference but there is a subset of potential owners who are looking to upgrade from C5s or C6s and are looking for cars with the PDR portion feature especially since it can't be added after the car is built. If you don't have it in your car those people won't even bother looking at your car.
Bill
The following 2 users liked this post by Bill Dearborn:
Skid Row Joe (03-13-2018),
Yatagon41 (03-14-2018)
03-13-2018, 03:11 PM
#63
Melting Slicks
I really like the chrome wheels but I can't disagree that they are a waste of money. If they don't flake, peel or get sandblasted, they will enhance the value. But then again, if chrome is trending out, you might be right.
PDR the biggest waste to me. It was a stand alone option on my '15 and I never used it.
PDR the biggest waste to me. It was a stand alone option on my '15 and I never used it.
03-13-2018, 03:15 PM
#64
Race Director
That was one of the options I decided I needed to have on mine. I love the way they look (especially with the black wheels) and I simply don't have the patience to have taken off the stock ones and painted them myself. (and unless you are VERY good, it will never look as good as the factory painted ones)
03-13-2018, 04:25 PM
#65
Burning Brakes
Member Since: Jan 2017
Location: Saint Clair Shores Michigan
Posts: 767
Received 218 Likes
on
153 Posts
Why is the Selectable VIN so expensive? Meaning, what goes into the process that makes the end result so expensive to the customer? When ordering my vehicle last year, I never understood that and immediately bypassed the option. All I know is that it isn't going to mean much unless a celebrity owns it, but that's more on the actual owner compiling to the vehicle's value (Ex: Jay Leno's 2019 C7 Corvette with Custom VIN).
03-13-2018, 08:04 PM
#66
E-Ray, 3LZ, ZER, LIFT
Member Since: Sep 2007
Location: NE South Carolina
Posts: 29,487
Received 9,619 Likes
on
6,625 Posts
Why is the Selectable VIN so expensive? Meaning, what goes into the process that makes the end result so expensive to the customer? When ordering my vehicle last year, I never understood that and immediately bypassed the option. All I know is that it isn't going to mean much unless a celebrity owns it, but that's more on the actual owner compiling to the vehicle's value (Ex: Jay Leno's 2019 C7 Corvette with Custom VIN).
Price seems crazy but then again it is done around the GM computer system and they have to be sure what is requested is was not used and won't be used in the future.Guess it is a lot cheaper than Rick Hendrick's first C7 Coupe and first C7 Vert. He paid $1,100,000 for the Coupe and got a deal on the Vert, only an even million! That was at Barrett Jackson for Charity!
03-13-2018, 09:31 PM
#67
Race Director
As time goes on, the options you've added to your new C7 will be worthless in the resale market anyways. You just need to look at the prices of used C5s and C6s right now, you won't get any extra money for the cars that have the top trim level or Z51 or the transparent roof, etc. The value is determined by the overall condition of the car and the mileage on it.
And even in the short term, extra options don't add much value. If you add $15,000 in options and sell your car 2 years later you probably won't even get $5000 extra compared to the same car with zero options.
And even in the short term, extra options don't add much value. If you add $15,000 in options and sell your car 2 years later you probably won't even get $5000 extra compared to the same car with zero options.
03-13-2018, 09:39 PM
#68
03-13-2018, 09:59 PM
#70
Race Director
Also Exposed Carbon Fiber on hood ... $1995 vs. painted Carbon Fiber hood.
03-13-2018, 11:03 PM
#71
Race Director
Member Since: Mar 2010
Location: T-Town WA
Posts: 15,100
Received 3,626 Likes
on
2,348 Posts
2016 C6 of Year Finalist
03-14-2018, 12:44 AM
#72
Le Mans Master
$30,000 in options? I find that hard to believe.
03-14-2018, 07:48 AM
#73
Race Director
Maybe in the first few years, but I was referencing C5s and C6s. So what I mean is that once a car is much older, the added value of just about every option goes down to nothing. So the same thing will happen with the C7s once they reach that age too.
03-14-2018, 07:49 AM
#74
Race Director
03-14-2018, 08:03 AM
#75
Melting Slicks
The market has consistently determined that Base 1LT cars with no options (so a MN7, non-NPP, standard color) bring the highest resale as a percentage of cost new - although often not the easiest to resell.
On a resale basis, it would seem that a GS 2LT MN7 in white, red or gray would be the easiest to move.
Since car choice is very personal, many options are worth nothing in the resale or trade market: extra cost paint, chrome or machined wheels, stripes, interior trim, A8 vs MN7, transparent or exposed CF tops, etc.
03-14-2018, 08:10 AM
#76
Team Owner
Member Since: Jun 2005
Location: Northern, VA
Posts: 46,104
Received 2,481 Likes
on
1,944 Posts
St. Jude Donor '15
"In honor of jpee"
^ Have to disagree on only 1 point above: A8 vs. M7. Since most Corvette owners are Auto Trans drivers, A8 is clearly the easier car to sell and can be more than a zero dollar increase over an M7.
03-14-2018, 11:53 AM
#77
I think my build may be guilty of both sides of the spectrum--good bang for the buck and bad as others have pointed out!
Good: 2LT, two-tone seats (now $395 vice $295)
Bad: Carbon dash, painted calipers, racing stripe
Here's a couple others I second-guess the value looking at my sticker:
Black wheels with red stripe for $1,495. Same wheels, just $$$ to paint and stripe?
GS Heritage package for $795. Let's see: stickers, aluminum "brushed" hash marks and floor mats. Not great value
Red seat belts: $395 For a different color seat belt, LOL??
But, put them all together, and the car is still a great value relatively speaking and the options are part of what makes the car special to me. A few things could have been bought aftermarket for less, but some of those I wouldn't want done aftermarket personally (carbon dash, for example). Some of these options I knew weren't good value, but would be very difficult imo to do later on (red seat belts), so I got them anyway. It's funny because the carbon dash was too expensive and was the last option I added to my build, but when I look at C7's without the carbon dash, they look really plain like they're missing something to me. It's money well-spent, even if not a good value imo.
Other low-value choices I made: Jake caps ($210), sill plates ($275) and indoor vehicle cover ($435). A HIGH-value choice I will get absolutely NO value for is the personalize name & VIN plaque ($200), but man it makes me smile every time I see it!
Great discussion guys!
Good: 2LT, two-tone seats (now $395 vice $295)
Bad: Carbon dash, painted calipers, racing stripe
Here's a couple others I second-guess the value looking at my sticker:
Black wheels with red stripe for $1,495. Same wheels, just $$$ to paint and stripe?
GS Heritage package for $795. Let's see: stickers, aluminum "brushed" hash marks and floor mats. Not great value
Red seat belts: $395 For a different color seat belt, LOL??
But, put them all together, and the car is still a great value relatively speaking and the options are part of what makes the car special to me. A few things could have been bought aftermarket for less, but some of those I wouldn't want done aftermarket personally (carbon dash, for example). Some of these options I knew weren't good value, but would be very difficult imo to do later on (red seat belts), so I got them anyway. It's funny because the carbon dash was too expensive and was the last option I added to my build, but when I look at C7's without the carbon dash, they look really plain like they're missing something to me. It's money well-spent, even if not a good value imo.
Other low-value choices I made: Jake caps ($210), sill plates ($275) and indoor vehicle cover ($435). A HIGH-value choice I will get absolutely NO value for is the personalize name & VIN plaque ($200), but man it makes me smile every time I see it!
Great discussion guys!
03-14-2018, 01:41 PM
#78
Race Director
If you are suggesting the Z51 or convertible will bring $5,000 or $4,000 more respectively in resale than the cost of the option, you would be very wrong. 3 years out (2015's) Z51's sell for about $2,500 more than non-Z51's and convertibles sell for at most $1,500 more than a comparable coupe; and taking it further, 3LT's sell for $3,500 more and 2LT's sell for $2,500 more than 1LT's.
The market has consistently determined that Base 1LT cars with no options (so a MN7, non-NPP, standard color) bring the highest resale as a percentage of cost new - although often not the easiest to resell.
On a resale basis, it would seem that a GS 2LT MN7 in white, red or gray would be the easiest to move.
Since car choice is very personal, many options are worth nothing in the resale or trade market: extra cost paint, chrome or machined wheels, stripes, interior trim, A8 vs MN7, transparent or exposed CF tops, etc.
The market has consistently determined that Base 1LT cars with no options (so a MN7, non-NPP, standard color) bring the highest resale as a percentage of cost new - although often not the easiest to resell.
On a resale basis, it would seem that a GS 2LT MN7 in white, red or gray would be the easiest to move.
Since car choice is very personal, many options are worth nothing in the resale or trade market: extra cost paint, chrome or machined wheels, stripes, interior trim, A8 vs MN7, transparent or exposed CF tops, etc.
Also, you are incorrect in regard to M7s being easiest to move as the market for M7s is very small compared to A8s. Dealers will tell you they don't typically order M7s for inventory because they sit on their lots so long.
The following users liked this post:
ATC (03-19-2018)