Used C7 Values
07-05-2018, 09:09 AM
#1
Intermediate
Thread Starter
Used C7 Values
Hello forum members,
I am looking to upgrade my 04 C5. I’ve been looking at 16/17 C7 Z06’s & 17/18 GS’s. What can I use to fairly access used values on these cars? I’ve looked at NADA, KBB, CarGurus etc. Prices seem to be all over the place. I’ve read on here that the M7 cars are slow movers at dealers. If there is any truth in this does this affect value at all over the A8? Thanks for the help as always.
I am looking to upgrade my 04 C5. I’ve been looking at 16/17 C7 Z06’s & 17/18 GS’s. What can I use to fairly access used values on these cars? I’ve looked at NADA, KBB, CarGurus etc. Prices seem to be all over the place. I’ve read on here that the M7 cars are slow movers at dealers. If there is any truth in this does this affect value at all over the A8? Thanks for the help as always.
Popular Reply
07-05-2018, 09:53 AM
Melting Slicks
Check out Corvette DNA - its an app for Android or Apple. I use that because its an up to date database of what Vettes are selling for. Its for Vettes only, and you can add each and every option of a car you're looking at to see if it adds value or not - best Corvette Value app around - period.
07-05-2018, 09:39 AM
#2
Burning Brakes
Figure about a 25% take rate for the M7. From what I see the value is about the same. Assuming the manual is dead with the launch of the C8 some could argue the value of the M7 cars will remain strong for the enthusiasts that prefer to row their own gears.
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07-05-2018, 09:53 AM
#3
Melting Slicks
Check out Corvette DNA - its an app for Android or Apple. I use that because its an up to date database of what Vettes are selling for. Its for Vettes only, and you can add each and every option of a car you're looking at to see if it adds value or not - best Corvette Value app around - period.
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07-05-2018, 12:35 PM
#4
Instructor
Corvette may not be making the M7 in a few more years.
07-05-2018, 01:50 PM
#5
Team Owner
Sales of the C7 have fallen drastically since the release of the 2019's. In the first six months of 2018, GM dealers have only sold 10,242 C7's and that includes leftover 2017 and leftover 2018 C7's that were sitting on the dealer's showroom floor. If the sales keep declining, GM will be forced to offer some really serious rebates to try and kick start lackluster sales of the 2019's. Very good chance that the 2019's will be around for another twelve months before the 2020's go into production.
The dealers are not seeing the foot traffic for the current C7 and are not ordering for their instore inventory. GM has to do something(they know what it takes) to get their dealers to start ordering 2019's for instore inventory, to keep production levels up at Bowling Green.
If GM offers huge rebates for current 2019's, that will suppress sales of used C7's causing their prices to also decline.
The dealers are not seeing the foot traffic for the current C7 and are not ordering for their instore inventory. GM has to do something(they know what it takes) to get their dealers to start ordering 2019's for instore inventory, to keep production levels up at Bowling Green.
If GM offers huge rebates for current 2019's, that will suppress sales of used C7's causing their prices to also decline.
Last edited by JoesC5; 07-05-2018 at 01:55 PM.
07-05-2018, 04:13 PM
#6
Intermediate
Thread Starter
Interesting you mention this in your response. I went to a dealer today to see a GS M7. It’s a small dealer keep in mind. They had 4 new C7’s in stock. Not one was a 19, in fact 3 were 17’s. I looked at the GS but really liked a 2017 Z06. I was told that they had sent this Z to auction along with 2 others. This one didn’t sell and has 460 miles on it which I thought was odd and would certainly hamper a sale on this car as most wouldn’t want those miles on it. Might be a great deal to be had on it, however. Thanks!
07-05-2018, 04:52 PM
#7
Racer
I’ve been window shopping for a C7 for like a year and a half, and am only recently a serious shopper. What I’ve found during that time shopping is that the used market is just not discounted enough to make me seriously consider it. Particularly here I see sellers quoting the “discount” off msrp to justify their asking price even though the reality is that no one who is doing their homework is paying more than 88% of msrp on a new one. Im almost certainly going to just order one in Elkhart lake blue at the end of August when it’s available unless I find a deal I can’t walk away from between now and then.
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CWA318 (07-05-2018)
07-05-2018, 09:01 PM
#8
Burning Brakes
Sales of the C7 have fallen drastically since the release of the 2019's. In the first six months of 2018, GM dealers have only sold 10,242 C7's and that includes leftover 2017 and leftover 2018 C7's that were sitting on the dealer's showroom floor. If the sales keep declining, GM will be forced to offer some really serious rebates to try and kick start lackluster sales of the 2019's. Very good chance that the 2019's will be around for another twelve months before the 2020's go into production.
The dealers are not seeing the foot traffic for the current C7 and are not ordering for their instore inventory. GM has to do something(they know what it takes) to get their dealers to start ordering 2019's for instore inventory, to keep production levels up at Bowling Green.
If GM offers huge rebates for current 2019's, that will suppress sales of used C7's causing their prices to also decline.
The dealers are not seeing the foot traffic for the current C7 and are not ordering for their instore inventory. GM has to do something(they know what it takes) to get their dealers to start ordering 2019's for instore inventory, to keep production levels up at Bowling Green.
If GM offers huge rebates for current 2019's, that will suppress sales of used C7's causing their prices to also decline.
Agreed. Experienced this first hand when I traded my 2016 Camaro SS. The trade in value was miserable but a big part of the problem is that all the new ones had huge rebates on them. If you think the C7 sales have declined look at the Camaro. They have a huge amount of unsold supply and the reaction to the 2019 refresh so far is not positive.
07-05-2018, 10:43 PM
#9
Intermediate
Thread Starter
There sure seems to be quite a bit of inventory out there between 17’s, 18’s and 19’s. Does anyone know what typical discounts are to be had on the 19’s? How about incentives?
07-05-2018, 11:00 PM
#10
Melting Slicks
Member Since: Nov 2012
Location: Gettysburg PA
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2020 C8 of the Year Finalist - Unmodified
Check out Corvette DNA - its an app for Android or Apple. I use that because its an up to date database of what Vettes are selling for. Its for Vettes only, and you can add each and every option of a car you're looking at to see if it adds value or not - best Corvette Value app around - period.
07-06-2018, 12:13 AM
#11
Burning Brakes
Good lord, I had not seen the 2019 Camaro yet. That is the most hideous Chevrolet I have ever seen. Maybe like a late 70s Nova compares.
Agreed. Experienced this first hand when I traded my 2016 Camaro SS. The trade in value was miserable but a big part of the problem is that all the new ones had huge rebates on them. If you think the C7 sales have declined look at the Camaro. They have a huge amount of unsold supply and the reaction to the 2019 refresh so far is not positive.
07-06-2018, 12:31 AM
#12
Race Director
There are still new 16’s floating around out there. Found one 3LT vert MSRP of 81k for under 60k. I have found new 19’s for prices only a few k above used.
With new cars from 16,17 and 18 on lots being discounted no way in this market I would consider used.
With new cars from 16,17 and 18 on lots being discounted no way in this market I would consider used.
07-06-2018, 09:35 AM
#13
Team Owner
Agreed. Experienced this first hand when I traded my 2016 Camaro SS. The trade in value was miserable but a big part of the problem is that all the new ones had huge rebates on them. If you think the C7 sales have declined look at the Camaro. They have a huge amount of unsold supply and the reaction to the 2019 refresh so far is not positive.
People also feel the same way about the Bolt and the Volt. Not selling either.
While GM's sales are up a little, it's sporty cars are way down. GM's SUV's(with their great profit margin) are the saving grace for GM.
07-06-2018, 09:38 AM
#14
Racer
Yep, the Camaro's are also falling off the cliff. Down 30.6% in the first six months of 2018 compared to the first six months of 2017.
People also feel the same way about the Bolt and the Volt. Not selling either.
While GM's sales are up a little, it's sporty cars are way down. GM's SUV's(with their great profit margin) are the saving grace for GM.
People also feel the same way about the Bolt and the Volt. Not selling either.
While GM's sales are up a little, it's sporty cars are way down. GM's SUV's(with their great profit margin) are the saving grace for GM.
07-06-2018, 11:38 AM
#15
Team Owner
All these FWD and AWD CUV's are nothing but 4 door sedans with a 2 inch lift kit and new body panels to raise the roof another 4 inches. Underneath, they are still a 4 door FWD sedan, but with a higher center of gravity(great for performing a roll over when you swerve to keep from hitting that idiot that just crossed 3 lanes of heavy traffic at the very last second, to use the exit ramp). Not a big deal to change over a factory producing 4 door FWD sedans to one that is producing 4 door FWD CUV's.
Last edited by JoesC5; 07-06-2018 at 11:40 AM.
07-06-2018, 11:46 AM
#16
Racer
All these FWD and AWD CUV's are nothing but 4 door sedans with a 2 inch lift kit and new body panels to raise the roof another 4 inches. Underneath, they are still a 4 door FWD sedan, but with a higher center of gravity(great for performing a roll over when you swerve to keep from hitting that idiot that just crossed 3 lanes of heavy traffic at the very last second, to use the exit ramp). Not a big deal to change over a factory producing 4 door FWD sedans to one that is producing 4 door FWD CUV's.
true. I just find it shocking that a car like the fusion doesn’t make them enough money to justify keeping the line. It’s just crazy to think that they find so little value in the car market at this point. I agree totally with what you’re saying, which is why crossovers are uninteresting to me. It seems like a big gamble to me hoping that the people that would have bought a fusion would still buy ford and not just go buy a Hyundai Sonata.
07-06-2018, 12:03 PM
#17
Team Owner
true. I just find it shocking that a car like the fusion doesn’t make them enough money to justify keeping the line. It’s just crazy to think that they find so little value in the car market at this point. I agree totally with what you’re saying, which is why crossovers are uninteresting to me. It seems like a big gamble to me hoping that the people that would have bought a fusion would still buy ford and not just go buy a Hyundai Sonata.
I have thought about getting a taller CUV(taller than my current sedan). I can't see **** anymore driving on the Interstate because I'm surrounded by tall CUV's SUV's and pickups. Every time I go to a restaurant or the grocery store, when I return to my car there is a tall CUV/SUV/pickup parked on both sides of me and I can' see to back out of the parking spot until I'm halfway out. I can't see woman pushing her grocery cart and a couple of her kids running in front of her, etc). I have come very close to hitting a cart/kid and a bunch of cars, because of not being able to see over the tall CUV's/SUV's and pickups. When the weather is nice, I will park away from the crowd so no one is parked along side of my car.
My problem is that I have two 4-post lifts in my 2 car garage so I'm limited in the height of the car/CUV that I can park under one of my lifts.
07-06-2018, 12:09 PM
#18
Le Mans Master
One thing I have noticed about corvette in general having owned and traded in 3 of them c5-7 is that they have always done exceptional at resale-trade in time. I traded in my last corvette a 2014 stingray 2lt with 14k miles on it a year ago and got an amazing $44,000. Same day you could have bought a brand new 2017 for 49k at a large volume dealership. Things have declined since then but if you buy a new one at a deep discount from a dealer you won’t lose much on it in a couple of years should you decide to let it go.
My my examples are as follows
99 c5 coupe purchased used for $22k, almost 5 years and 50k miles later I sold it for 17k.
2006 c6 coupe I purchased used for $30k, al,ost 7 years and 30k miles later traded the car in for 22k.
2014 c7 stingray coupe purchased used from a dealer for $47k had the car for just under a year and put around 6k miles on it traded it in at a dealer for $44k.
Doing the math corvette ownership over about 13 years cost me $102 dollars a month lol.
im pretty much saying find a good deal even if it’s not the "best deal" and sleep easy. Your money stays pretty safe in a corvette, especially if you buy new at a discount or used at a fair price.
My my examples are as follows
99 c5 coupe purchased used for $22k, almost 5 years and 50k miles later I sold it for 17k.
2006 c6 coupe I purchased used for $30k, al,ost 7 years and 30k miles later traded the car in for 22k.
2014 c7 stingray coupe purchased used from a dealer for $47k had the car for just under a year and put around 6k miles on it traded it in at a dealer for $44k.
Doing the math corvette ownership over about 13 years cost me $102 dollars a month lol.
im pretty much saying find a good deal even if it’s not the "best deal" and sleep easy. Your money stays pretty safe in a corvette, especially if you buy new at a discount or used at a fair price.
Last edited by brooklync5; 07-06-2018 at 12:09 PM.
07-06-2018, 12:14 PM
#19
Racer
I have thought about getting a taller CUV(taller than my current sedan). I can't see **** anymore driving on the Interstate because I'm surrounded by tall CUV's SUV's and pickups. Every time I go to a restaurant or the grocery store, when I return to my car there is a tall CUV/SUV/pickup parked on both sides of me and I can' see to back out of the parking spot until I'm halfway out. I can't see woman pushing her grocery cart and a couple of her kids running in front of her, etc). I have come very close to hitting a cart/kid and a bunch of cars, because of not being able to see over the tall CUV's/SUV's and pickups. When the weather is nice, I will park away from the crowd so no one is parked along side of my car.
My problem is that I have two 4-post lifts in my 2 car garage so I'm limited in the height of the car/CUV that I can park under one of my lifts.
My problem is that I have two 4-post lifts in my 2 car garage so I'm limited in the height of the car/CUV that I can park under one of my lifts.
07-06-2018, 01:45 PM
#20
Intermediate
Thread Starter
Here’s an update. Found a 2018 GS 1LT. Black/Black 4K miles used. Has MSRP of $73170. Thoughts on a price of $57900? Might be able to negotiate a bit lower.