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new to the forum. I'm looking into getting a new Stingray GS. This will be my first sports car. Dad owned a 85 vette so now its my turn. My question is on resale. I plan on keeping the car for 3-3/12 years and then going for a c8 once its been in production a year or two. Car will mainly be used for a short commute, weekend drives etc. Point is it won't be a garage queen.
So in short- if i spend 60K (at someplace like kerbecks or macmulkin) will i take a bath in 3 years? Im cross shopping with a used Porsche Cayman S from 14-16 and their resale seems very strong...however the vette is way more car for the money and If i can go new I would prefer it.
Are you completely opposed to buying used cause other than that, anytime you buy new your going to take a bath in the short term... Just a thought - most used C7's have less than 5000 miles on them - so they are barely even touched...but if you want new - then unfortunately the car buying game is not setup for you to come out on top.
Well some used are barely touched, and some are touched as in a collision. And you don't find out until after you buy it. I read about it all the time on this forum. Also the new are not always that much more than used depending on discounts from dealers. And finally doing a financial analysis on this type of purchase doesn't make a whole lot of sense. It's a toy.
Agreed, the budget was 55-60K and i prefer new (knowing full well i will lose in the short term), used GS are in the mid 50's so for a few grand more at one of the large vette dealers i can go brand new.
I guess I'm saying, is the downside with these cars very high. If i look at a jag f type r, the car is 100k new, and after 3 years is worth 50K maybe 60K. is a GS likely to only be worth 25K in three years? i dont think so but i dont know (hence corvette forum post).
And no not completely opposed to buying used, but if the diff between used and new is 4k then ill go new.
You need to clarify what you’re looking for. There is no Stingray GS. There’s the base car that’s the Stingray and there’s the GS that shares the wide body and much more with the Z06.
After the above, you need to sort out trim level and options.
For $60k I’ll guess you’re looking at a 2LT Stingray
I didnt buy my Vette for resale I bought it to drive. I bought my 2015 3LT Z51 in December of 2017. It had 50 k miles on it but was in excellent condition. I bought it for $40K the original sticker price was over $76 K so you can get a rough idea of depreciation if the Vette is driven which it needs. get one drive it enjoy it and dont worry about resale
that seems like a very fair price for a 2019...…………. there is a used 2017 here in the Motor City area, 1LT, auto. as well with Z07 option for 54K plus taxes, title fees, etc.
as long as YOU would be happy, these are not appreciating assets...………. so expect some depreciation as time goes on
Beautiful car!! My problem is this unless it's negotiable: "Must finance a minimum of $25,000 through GM Financial." I'm not a fan of being pushed into financing anything, much less 25k.
Hi and welcome. It'll be worth about half of what you paid for it new in that time of ownership you mention. Yes. I would call that taking a bath. I have had mine three years and am willing to take a hit on trade going up to a Z06. But I don't care about the money part of it anymore at my stage in life. You can't take it with you as they say.
Beautiful car!! My problem is this unless it's negotiable: "Must finance a minimum of $25,000 through GM Financial." I'm not a fan of being pushed into financing anything, much less 25k.
Yep, just learned about this myself. You might have seen the thread. There is a financing condition to that price if you read the fine print. You could finance it and just pay it off right away and deal with getting the title updated. There is a reason the discount is so good and that is because of the financing condition. You could also try Kerbeck. I haven't checked their prices lately. I bought mine form MacMulkin and they did a great job with the selling process. Easy peasy.
Yes i saw the financing part. Im fine with financing through them provided its not something silly like 5%.
I have 800+ credit with no debt (outside of my last couple years payment on a wrangler). So i would hope to get somewhere in the low to mid 2's. I'll have to call and find out.
Kerbecks i checked can do 2.9% for good credit which seems pretty fair.
Beautiful car!! My problem is this unless it's negotiable: "Must finance a minimum of $25,000 through GM Financial." I'm not a fan of being pushed into financing anything, much less 25k.
Can you finance and then pay it off? Is there a pre-payment penalty?
Corvettes have rough depreciation, like most cars, though that is coupled with driving it. If you put miles on it gets even worse because most corvette buyers are a bit fussy, to be nice.
I would go used if you plan on keeping for 3 years. Find someone else's garage queen. Tons of 2017 and even 2018s out there.
Hi and welcome. It'll be worth about half of what you paid for it new in that time of ownership you mention. Yes. I would call that taking a bath. I have had mine three years and am willing to take a hit on trade going up to a Z06. But I don't care about the money part of it anymore at my stage in life. You can't take it with you as they say.
A 2019 Grandsport should be worth quite a bit more than $30,000 in 3 years from now.
I think so too. Used only appeals to me because I plan on driving a lot. Don’t want to baby anything. I’m anticipating putting on at least 30k mileage in 3 years for whatever I get (used or new)
Agreed, the budget was 55-60K and i prefer new (knowing full well i will lose in the short term), used GS are in the mid 50's so for a few grand more at one of the large vette dealers i can go brand new.
I guess I'm saying, is the downside with these cars very high. If i look at a jag f type r, the car is 100k new, and after 3 years is worth 50K maybe 60K. is a GS likely to only be worth 25K in three years? i dont think so but i dont know (hence corvette forum post).
And no not completely opposed to buying used, but if the diff between used and new is 4k then ill go new.
You said it yourself above. The new Grand Sport is only a few grand more, therefore used it only lost a few grand in value.
Last edited by 2cnd Chance; 01-01-2019 at 02:55 PM.
01-01-2019, 12:42 PM
Stingray GS Resale?
