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Found the right car, scared to pull the trigger

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Found the right car, scared to pull the trigger

 
Old 02-12-2019, 10:43 PM
  #41  
Kevin A Jones
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Originally Posted by 17C7 View Post
Just buy it no car is an investment.
A C7 is no investment, however there's other cars out there (including some Corvettes) that are not only investments, but good ones.
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Old 02-12-2019, 10:44 PM
  #42  
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Originally Posted by GShunter View Post
Finally, after a 4 long month search for the perfect C7, i managed to find my dream. Its a beautiful 2017 GS 2LT M7 3k miles, with the color and options of my choice. I am buying the car at about 66% of the original MSRP. I think thats a good deal I am working with the dealership and my bank to finish up the formalities.
And then i did the stupid mistake of doing some research on the C7 resale values and now i can't stop to think,
When the C8 comes out later this year/early next year, will C7 take a big hit in depreciation? Any C6 owners here who can comment on C6 resale values when the C7 came out?
Is this a wrong time to buy a C7?
Sounds like you’re over thinking this. Focus on the first line of your post.

Last edited by Big Lebowski; 02-12-2019 at 10:45 PM.
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Old 02-12-2019, 11:10 PM
  #43  
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I personally think people are nuts for buying now.

Wait for 6 months *ish till more info on the c8 comes out. 1) you will really see if you can get a MUCH better car for the semi- same price. (of $169K)
2) if you see and dont like, the c7 will be cheaper and there WILL be people selling like mad. Either way its a win.



P.S. You know you want the C8.. you can feel it. Your looking at the pictures everyday. There is being happy and then there is being mid engine happy. Being one more step closer to a super car. All you have to do is .... just wait a little longer........
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Old 02-12-2019, 11:52 PM
  #44  
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Originally Posted by Billy346 View Post
Hey Joe- You forgot to mention that you bought the 3LT for 20% off and that you absolutely love it and canít see why anyone would want anything else.
Hey Billie - I'm just glad I didn't get a 1LT.

Last edited by Skid Row Joe; 02-12-2019 at 11:59 PM.
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Old 02-12-2019, 11:58 PM
  #45  
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Originally Posted by lostsoul View Post
I personally think people are nuts for buying now.

Wait for 6 months *ish till more info on the c8 comes out. 1) you will really see if you can get a MUCH better car for the semi- same price. (of $169K)
2) if you see and dont like, the c7 will be cheaper and there WILL be people selling like mad. Either way its a win.



P.S. You know you want the C8.. you can feel it. Your looking at the pictures everyday. There is being happy and then there is being mid engine happy. Being one more step closer to a super car. All you have to do is .... just wait a little longer........
That's exactly right. Other than the "$169K, pricetag." The C8 is basically here. Unless he
wants to roll the dice on the C8, being auto only. However, he's a used car buyer, so it doesn't matter how close the C8 is. His C7 will absolutely take a hit when the C8 is in showrooms. That's kind of a no-brainer.

Last edited by Skid Row Joe; 02-12-2019 at 11:59 PM.
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Old 02-13-2019, 01:50 AM
  #46  
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Originally Posted by mschuyler View Post
If your one remaining concern is resale value before you even have the car, maybe you shouldn't buy it. You're already visualizing selling it in your own mind. That's not much of a commitment. Go all in, or go home.
Interesting point. Except for maybe stocks and bonds,, I don't worry about a price down the road. The interim enjoyment is the reward and it has a cost. So does going out to dinner, going to a movie, a weekend away, or any other enjoyable endeavor. Enjoyment has a cost and often you don't know how much the enjoyment will be until you cover that cost. So the question is, to some extent, how much you are willing to risk financially to see what that enjoyment will be.

Another consideration might be the length of time it took for you to find just the right combination of car and price for what you want. If you lose that opportunity and it takes another four months to find another one, if you can, you will already be into summer and will have lost some good fun in the meantime for probably not much difference in cost.

Take a deep breath, try to make the best decision for your particular situation, and good luck.
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Old 02-13-2019, 06:59 AM
  #47  
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Old 02-13-2019, 07:11 AM
  #48  
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Default Buy it

Hey

you found the car of your dreams....BUY IT....

a nice M7

Donít forget to drive it like you stole it....and ENJOY,,the ride
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Old 02-13-2019, 07:15 AM
  #49  
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Originally Posted by Skid Row Joe View Post
That's exactly right. Other than the "$169K, pricetag." The C8 is basically here. Unless he
wants to roll the dice on the C8, being auto only. However, he's a used car buyer, so it doesn't matter how close the C8 is. His C7 will absolutely take a hit when the C8 is in showrooms. That's kind of a no-brainer.
I think that the C7 to C8 transition will not be similar to the C6 to C7 transition in the sense that Chevy may choose to start at the top with a rebranded ZR1 (maybe MR1 ), before they scale down to provide a base model. If so, then C7 production lines will coexist with C8 ones in the near term.
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Old 02-13-2019, 08:12 AM
  #50  
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I would bet the C8 will be considerably more expensive than the C7; why would Chevrolet sell a mid-engine car in the league of Lambo and Ferrari and charge $60K (like the sticker price on a base C7)? No, I think the C8 will tend to keep the value of all Corvettes somewhat higher. I would not be surprised to see a $10K price jump, making late model C7's more valuable. Besides, I suspect the 2020/1st-year C8's will have numerous quality issues...normal teething pains of a new model.

Not sure if this is a precise comparison, but my other automotive "love" is my Jeep Wrangler Sahara that I bought new 28 months ago. A dealer gave me a cash offer at 85% of original price at the two-year mark, mainly because the redesigned JL took a $5K price jump, which lifted the price of all the used late models. Little known fact: Jeep Wranglers are among the lowest cost of ownership of all cars...not because they get good gas mileage or have cheap insurance, (that's for sure), but because the depreciate much slower than other cars.
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Old 02-13-2019, 08:41 AM
  #51  
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Sounds like you found your dream car, As many of the other posters have said, go get the car & don't look back...C7 Corvettes are not a good investment, so go out & enjoy the car
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Old 02-13-2019, 09:02 AM
  #52  
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I have never bought a car with resale value in mind. Buy the car you want and use it, otherwise what is the point of having it? Almost no cars are investments, and those that are are generally garage queens who lose value if you do drive them.

On the other hand, if the concern is because it may put you in a financial situation down the road that you can't get out of, maybe it is better to let it walk.

Originally Posted by lostsoul View Post
Wait for 6 months *ish till more info on the c8 comes out. 1) you will really see if you can get a MUCH better car for the semi- same price. (of $169K)
Or you could wait six more months, have GM still be tight lipped about anything related to it, and most of the summer season is gone and a car you want at a price you are willing to pay has went to another happy owner.
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Old 02-13-2019, 09:23 AM
  #53  
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OP, Hope you bought that low priced C7. 34% off MSRP on a low mileage 2017 is a crazy low price.
Also, trying to predict what the previous generation Corvette prices will do when a new generation is introduced can't be done because each generation reacts differently. But if you want to know about the C6, I was pricing a low mileage C6 and came close to buying a 2009 coupe in late 2014. Over 6 years (the 2015s were out), the car had depreciated 44% off MSRP. Using that example, your C7 will depreciate another 10% over the next four years.
I would put zero faith in that prediction, but if you wanted to know what happened to C6 values, that's a true story using an actual example, not hypothetical.
In my opinion, the C7 you are considering is well priced. I bought my then 2 year old 2014, certified C7 at around 23% off new car (2016) MSRP and I was thrilled to get it at that price. So 34% off for 2 years old is very good. I doubt you'll be able to find the exact car you want, like this one, with low mileage, like this one at this price when the C8 is announced.
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Old 02-13-2019, 09:31 AM
  #54  
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Sounds like a good deal. Get it and enjoy it. The cars depreciate no matter what. They arenít an investment. Hell I bought mine new at 12% off. So Iím in the hole if I wanted to sell. Itís so much fun so thatís not happening.
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Old 02-13-2019, 12:33 PM
  #55  
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Originally Posted by GShunter View Post
Finally, after a 4 long month search for the perfect C7, i managed to find my dream. Its a beautiful 2017 GS 2LT M7 3k miles, with the color and options of my choice. I am buying the car at about 66% of the original MSRP. I think thats a good deal I am working with the dealership and my bank to finish up the formalities.
And then i did the stupid mistake of doing some research on the C7 resale values and now i can't stop to think,
When the C8 comes out later this year/early next year, will C7 take a big hit in depreciation? Any C6 owners here who can comment on C6 resale values when the C7 came out?
Is this a wrong time to buy a C7?
Anyone who buys anything for re-sale value is failing to understand the meaning of life.
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Old 02-13-2019, 01:04 PM
  #56  
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Originally Posted by jefnvk View Post


Or you could wait six more months, have GM still be tight lipped about anything related to it, and most of the summer season is gone and a car you want at a price you are willing to pay has went to another happy owner.

True, but you know a good 50% or more that bought a year before the c8 release will be kicking themselves. Even if its a tad more expensive. It would feel like dark shadow of doubt when you see your wifes sister grown up.
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Old 02-13-2019, 02:20 PM
  #57  
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Originally Posted by N875ED View Post
I would bet the C8 will be considerably more expensive than the C7; why would Chevrolet sell a mid-engine car in the league of Lambo and Ferrari and charge $60K (like the sticker price on a base C7)? No, I think the C8 will tend to keep the value of all Corvettes somewhat higher. I would not be surprised to see a $10K price jump, making late model C7's more valuable. Besides, I suspect the 2020/1st-year C8's will have numerous quality issues...normal teething pains of a new model.

Not sure if this is a precise comparison, but my other automotive "love" is my Jeep Wrangler Sahara that I bought new 28 months ago. A dealer gave me a cash offer at 85% of original price at the two-year mark, mainly because the redesigned JL took a $5K price jump, which lifted the price of all the used late models. Little known fact: Jeep Wranglers are among the lowest cost of ownership of all cars...not because they get good gas mileage or have cheap insurance, (that's for sure), but because the depreciate much slower than other cars.
The C8 will not be in the same league as Lambo and Ferrari. It will still be a mass produced, relatively affordable sports car.
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Old 02-13-2019, 04:46 PM
  #58  
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Originally Posted by Sub Driver View Post
The C8 will not be in the same league as Lambo and Ferrari. It will still be a mass produced, relatively affordable sports car.
I disagree - I think the changes to the Corvette are to directly compete with those types of world class sports cars. Tadge himself said the C7 made all the changes they did to compete in the world class category of sports cars - you think the C8 will be any less? Why do so many videos and sports car magazine always put a high-end Vette up against a Ferrari or Lambo? Yes its mass produced, but a ZR1 is $140k AND folks out there continually seem to keep think they are comparable in some capacity... Im not saying one is better or faster than the other - but people do consider them in the same "league" otherwise they wouldn't make the comparisons...

Just a sample of comparisons I found in less than 2 minutes searching:




(even back in C6 days)...
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Old 02-13-2019, 04:56 PM
  #59  
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Look at the 67 to 68 changeover!! Everyone was holding of for the 68 but now it's the 67 that is worth so much more. Buy now!
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Old 02-13-2019, 05:00 PM
  #60  
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^^^ Yeah, but that was over 50 years ago. Not sure many on here will care what a Ď17 GS will be worth in the next 1/2 century

Last edited by sTz; 02-13-2019 at 05:01 PM.
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