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C7 Resale Values?

 
Old 01-13-2019, 12:01 PM
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rmorin1249
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Default C7 Resale Values?

Once all the new C7s are sold and the initial flurry of C8 sales are done will C7 resale values stabilize, continue to fall or maybe even rise a bit? I understand there are a lot Corvette followers that are not enthralled with the midengine design. Could this work in favor of maintaining values of quality late model FE cars?
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Old 01-13-2019, 12:02 PM
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KenHorse
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Doubtful
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Old 01-13-2019, 12:09 PM
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Zjoe6
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GM does not want you to figure this out. Think of it like predicting the stock market. Not gonna happen. So make your decision and do not rely on keyboard experts.
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Old 01-13-2019, 12:09 PM
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Not a chance.
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Old 01-13-2019, 12:12 PM
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I guess this spring is time to sell my C7.
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Old 01-13-2019, 12:16 PM
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too early to say. There are just too many factors to consider. There is a huge oversupply of unsold C7s on dealers lots. The pricing of the new C8 could factor in. The economy could be a major factor and then you have to consider the millenials. What will they do? They will be the big driver to what happens with the C8. You also need to consider the auto market is in transistion right now. There will be many new EV models coming online soon with all manufacturers introducing many new models over the next 5 years. The ICE could be considered a dinosaur when EVs gain traction. There could be a point in time you might not be able to give away an ICE vehicle.
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Old 01-13-2019, 12:19 PM
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Landru
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GM built a whole lot of C7s from '14 onward.
Now, 7's are being marketed w/ ridiculous discounts.
Trade-in value's brutal due to said discounts coupled w/ high prod #s further accelerate depreciation.

Will C7 appreciate after C8, or ever?
Wouldn't count on appreciation until sometime after 2050 & C17.
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Old 01-13-2019, 12:54 PM
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Most likely not, unless the C8 is a complete sales disaster due to cost, style, performance, etc.
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Old 01-13-2019, 01:20 PM
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JK 23112
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I doubt that anybody buying a C7 brand new (such as myself) did so as some kind of an "investment" -- especially since we all knew that the C8 has been in the works for awhile and would be released for 2020 or 2021. My 2017 is my first Corvette and I had originally intended to buy a brand new Mustang GT coupe, but realized that I would "lose" less money over five or six years of low-mileage ownership with a Corvette than with the horrible depreciation of a Mustang. Plus, the "cool factor" of a Corvette is incomparable.

Don't get me wrong, though. I had four Mustang GT coupes over several years and loved every one of them. The Mustang GT is an outstanding car. The 2019 Bullitt Mustang is truly a wonderful car and is priced a lot closer to a new 2019 1LT Corvette than you might imagine. Ford also coaxed 480 horsepower out of a 5.0L engine in comparison to 460 ponies from the GM 6.2L block. That's pretty admirable on the part of Ford. The Mustang GT also has rev-matching with the 6-speed manual AND an exhaust mode selector.


Anyway, nobody knows for sure what the pricing will be on the C8 - but maybe GM will end up putting the car out of the reach of many would-be buyers. From a performance standpoint, a mid-engine car with DOHC V8s putting out 600 & 800 ponies is going to be amazing. If it is priced up into the stratosphere, our gently used C7s may hang onto a dollar a bit more tightly, however. If a new C8 is above 100 grand, dropping half that for a four-year-old Stingray with low miles might not hurt so badly for a budding Corvette enthusiast. Additionally, someone insisting upon a 'Vette with a manual transmission is going to have to buy a C7 - since the new C8 will be offered only with an automatic.

Maybe it is just a game of wait and see, huh?
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Old 01-13-2019, 01:32 PM
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MikeERWNC
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Here is something to think about...
Do you see anyone running out and paying top dollar for a C4 - C5 - C6?
The C7 is going to end up as unwanted and selling as cheaply as those cars are.
Once the baby-boomers die, no one will want the C1 - C2 - C3 either. Maybe a museum?
Cars are disposable tools. Use and replace.
A Corvette is not an investment.
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Old 01-13-2019, 02:02 PM
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Originally Posted by MikeERWNC View Post
Here is something to think about...
Do you see anyone running out and paying top dollar for a C4 - C5 - C6?
The C7 is going to end up as unwanted and selling as cheaply as those cars are.
Once the baby-boomers die, no one will want the C1 - C2 - C3 either. Maybe a museum?
Cars are disposable tools. Use and replace.
A Corvette is not an investment.
People still want 32 Fords.
On the whole, you are correct, however there are certain cars that will endure. I suspect the tri fives will be popular for many decades to come, this goes for the so called mid year (1963-67 Vettes) also.
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Old 01-13-2019, 02:09 PM
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I'm going to go against the grain a bit here. Not everyone are/will be interested in a mid engine Corvette, and it is possible with the ME that GM will push the Corvette into an even smaller niche market. If that happens we may not see the usual amount of depreciation on the C7. But, what do I know.
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Old 01-13-2019, 03:15 PM
  #13  
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The one poster hit the nail on the head. Itís not the C8 that is the issue. ICE vehicles are in the last decade of a 100 year run. You wonít be able to give one away by 2030 unless itís a collectible. To many vettes built for that to happen.

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Old 01-13-2019, 03:29 PM
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Originally Posted by MikeERWNC View Post
Here is something to think about... Use and replace.
A Corvette is not an investment.
Don't tell that to the new owners of #2 & #5!


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Old 01-13-2019, 03:39 PM
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You also have to add into the equation if you bought NEW or USED. Obviously if you bought USED, you didn't take the initial depreciation hit, and (mostly likely) wont lose that much off your purchase price...of course that is if you maintained the car and didn't put tens of thousand of miles on it (several factors come into play here).

If you bought NEW - well then, your going to take a hit no matter when you sell it - but you are correct that you will minimize the loss on ANY Vette (if bought new or used) if resold in the Spring / Summer months - that's when you see a spike in interest for these types of cars.
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Old 01-13-2019, 04:45 PM
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Used (if that's what you are asking) C7s are NOT going up in value any time soon, if ever. GM can't consistently fix them now when there are issues: what does that portend as a "collector" car down the road?

Btw, I just saw an essentially no-mileage Mako Pace-car edition sell at Mecum for mid-to high $40s. Not how I'd have wanted to "invest" that money at the time.
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Old 01-13-2019, 04:50 PM
  #17  
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Yes I think you've nailed it because a lot of people will have nothing to do with midengine. For my future Corvettes, I'll be looking back. Already started, I want to jump now before the masses clog the buying frenzy of all Corvettes NOT mid engine.
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Old 01-13-2019, 04:51 PM
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Originally Posted by VNAMVET View Post
Don't tell that to the new owners of #2 & #5!
I have watched some of those Auctions. Those bidders are old as F^<K!
If you are going to quote me, quote the entire statement. Sure- Those sold high. The bidder was probably a baby-boomer who had zero cash in 1965-69 and wanted the car then.
Now he has one foot in the grave and wants to relive his youth with a decent IRA backing him. That is your generation. With only a few more years on this side of the dirt, I can understand why you would be driving a Corvette.
And/ Or wanting a C3. I like the C2-C3 Corvettes, but I would never want to own one. Once your generation dies, the value will diminish. Talk to your kids... They could give two ***** about the car you drive. The 5MPG might even **** some of them off.
The current Mexi-China C7 Corvette is kind of disappointing, I am pretty sure this is my last Corvette.
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Old 01-13-2019, 04:57 PM
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The C7 is so head and shoulders above the previous model (C6, ) I would look for strong resale as it continues it's state of the art superiority for quite some time to come. Be happy you bought one!!
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Old 01-13-2019, 04:59 PM
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Originally Posted by MikeERWNC View Post
I have watched some of those Auctions. Those bidders are old as F^<K!
If you are going to quote me, quote the entire statement. Sure- Those sold high. The bidder was probably a baby-boomer who had zero cash in 1965-69 and wanted the car then.
Now he has one foot in the grave and wants to relive his youth with a decent IRA backing him. That is your generation. With only a few more years on this side of the dirt, I can understand why you would be driving a Corvette.
And/ Or wanting a C3. I like the C2-C3 Corvettes, but I would never want to own one. Once your generation dies, the value will diminish. Talk to your kids... They could give two ***** about the car you drive. The 5MPG might even **** some of them off.
The current Mexi-China C7 Corvette is kind of disappointing, I am pretty sure this is my last Corvette.
I would like to congratulate you on your feeble attempt to "**** off" more than half of the people on here!
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