Way too much number crunching for me. My formula is find what I want negotiate a price I think is fair, buy it drive it and enjoy it.

 

Markets for cars differ from area to area. It's the same for Corvettes.

 

 

I had been looking for around a year. What I found is certain options really affected the negotiability because of availability. PDR, M7, Heritage package, and MRC(if a Z51). If a car was missing many of those they seemed to sit around for a long time and could be negotiated. If it had those options they went pretty quickly. 2 of the cars that I went to see actually sold to out of state buyers between the time they listed and me getting to the dealer later that day. For whatever reason I found the best used deals at luxury or exotic dealers who got it on trade.

I started debating buying a new one and emailed with MacMulikin several times. They were great. They really helped me out and I was close to buying new. I then found and ended up buying a used 2017 GS LT2, M7, PDR, Heritage package, clear bra on nose/rockets/rear quarter with 750 miles on it from a dealer in FL. It was about $7k below a new one similarly equipped minus the Heritage package and paint protection. The warranty was the obvious big difference. The car I bought was like new and I could buy an extended warranty if wanted. Apples to apples minus it being brand new from the dealer it was about $6 to $8k less to buy a low mileage C7 GS when you include taxes then brand new with some of the great incentives currently available.

 

Maybe not making fair comparisons? So according to the Chevrolet site a 1lt GS stickers for about 66,500 and a 2lt Z51 for about 66k. So you can get the GS for about 55k new. But my 2016 is a 2lt Z51 and with all other options the original sticker was 73,500 and a 2018 equipped the same way right now stickers for 75K. I paid 47,500 a month ago for my 16 with 5100 miles. Book said value was 55k. So every single option has to be taken into account to see where the sticker difference and final buying price is and the book value on a used one is only a guideline to buying. I know the chrome rims on mine was close to a 2000 dollar option on the sticker vs painted black so as I said the options on the new and used have to be equal before getting a fair price comparison.

 

Bought my 2019 GS through MacMulkin at 13% off MSRP. And that was a custom order, not simply one from inventory

(paid just over $64K)

 

The fact if the matter is, you've made the case for buying brand new.

When you cannot afford new,; then you're relegated to the used market. In your scenario, you're not gaining a thing in buying used. Why? Because it's 2 to 3 years old depreciation, that's why.

 

I can't find this car listed on the actual George Chevy website. So unless you already bought it, make sure to confirm it's available. It looks like this dealership only has 2 Vettes in stock so I assume they are not high volume dealers and may want to just get rid of the 2018 that they still have left since they probably don't get many calls for Corvettes.

Discounts of 20%-25% have been non existent this year. I'm sure it's possible for a one off discounts on a particular car that a dealership really wants to get rid off. But as far as a large sale on all or most stock a dealer has, it hasn't happen this year.

If you find 20-25% in stock on one that you actually like such as the color and options, then buy it ASAP. This year, I've only seen mostly around 12% off give or take a few.

 

 

I ran into the same thing, I was negotiating a used 2017 for 55k, (Same specs as my car) 2lt, LBR on black w chrome wheels... then ended up buying the same car/specs a 2019 from McMulkin for 58k. It was a lucky no brainer thing, but I agree with you 2nd hand prices are still high, which is good for resale value. I am also certain that it will vary a little bit on the area you are searching in as well.

 

I agree. That's kind of my point in comparison buying though. If you like all those options you do better buying used because of it not netting the resale. So my car stickers for 75kish with the options on there. Even if I get 20% off new that's 60kish plus delivery etc. Since the options don't net the resale value I got the 2016 low mileage for 47,500 and saved about 13k from buying new.

 

Interesting topic.

True economic theory in play.
I think the issue is that KBB et al are trying to produce data for one report that covers
all regions of the USA.

True, options added to base return little on the KBB valuation model.

Owners look at their "babies" as investments.

Dealers/ flippers wish to make strong profit when resold.

GM discounts, free financing, etc skew the OEM prices by a strong margin perhaps 20%.
(I paid $75K, my GM employee neighbor paid $60K)

I don't know the answer.

FWIW I'm original owner of a Honda mini bike that cost $400 brand new. Some KBB data indicates $1.5K.
Market is indicating $3.5K. I would not even consider selling at $3.5K, unless desperate for cash.

 

The only time you look at resale value in 4-5 years is when getting an Accord. Too many factors when talking about V8 toys that may or may not be desirable. We are due for a recession, hike in gas prices, heavier emissions restrictions and a general push to get everyone off gas. Either one with 50-60k will be worth nothing since there will be thousands of examples with 10k or less miles. Look how many Z06's are on the market, barely driven, competing for a sale. Do you really think something with a ton of miles is going to demand anyone's attention?

 

Wait, I had read several threads in the past month on Mustang forums that the new GT500 is going to be reaching near $100k. Where are you getting any reassurances that you can get it in the $70k range?

I own a GT500 right now, it's a great car, it holds value pretty well once it gets over the first hump of depreciation. My private seller value / trade in is around half of what the original owner paid for it, and that's with only 12,000 miles on it. I bought it after the depreciation so I could no joke sell it / trade it for about what I paid, but you can't say that for the original buyer when he got rid of it.

Whether you buy a GT500 or a C8 be ready to eat a lot of depreciation rapidly, the winner is going to be the guy who gets it from you 3-5 years later when you want something new.

With all that said, I'm shifting from a lifelong Mustang fan to a Corvette owner with the C8. If Chevy didn't go mid-engine I would have bought a new GT500.