Found the right car, scared to pull the trigger
#41
Race Director
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dvilin (02-13-2019)
#42
Le Mans Master
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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?
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?
Last edited by Big Lebowski; 02-12-2019 at 10:45 PM.
#43
Banned Scam/Spammer
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........
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........
#44
#45
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........
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........
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.
#46
Le Mans Master
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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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dcooper23 (02-14-2019)
#49
Instructor
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.
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.
#50
Advanced
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.
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.
#51
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2023 C6 of the Year Finalist - Unmodified
2022 C6 of the Year Finalist - Unmodified
2021 C6 of the Year Finalist - Unmodified
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
#52
Melting Slicks
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.
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.
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.
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.
#53
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St. Jude Donor '16-'17,'22,'24
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.
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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GS60th#47 (02-13-2019)
#54
Sounds like a good deal. Get it and enjoy it. The cars depreciate no matter what. They aren’t an investment. Hell I bought mine new at 12% off. So I’m in the hole if I wanted to sell. It’s so much fun so that’s not happening.
#55
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?
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?
#56
Banned Scam/Spammer
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.
#57
Banned Scam/Spammer
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.
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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Foosh (02-14-2019)
#58
Melting Slicks
Just a sample of comparisons I found in less than 2 minutes searching:
#60
Le Mans Master
^^^ Yeah, but that was over 50 years ago. Not sure many on here will care what a ‘17 GS will be worth in the next 1/2 century
Last edited by sTz; 02-13-2019 at 05:01 PM.