Found the right car, scared to pull the trigger
Thread Starter
Instructor
Joined: Aug 2018
Posts: 165
Likes: 34
From: North Cal
Found the right car, scared to pull the trigger
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?
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?
Former Vendor
Joined: Dec 2016
Posts: 3,574
Likes: 2,412
From: Lookin over Hoover Dam
The resale value is comp to the relative market, not to what's ahead of it. C7's in the year JUST prior to the C8 will only become difficult to sell because if someone were to finance the number to get that last yr used C7, the step to a C8 would be obvious. That said, no one has a clue what C8 is, when it's actually going on sale, what the price is, etc.
With C7, the issue was, people who'd paid good money on 2013 Z06's got trapped in them, or took a small hit because the C7Z51's and anticipation of C7Z's were in play. Right now, a GS of that year is as safe as a C7 buy as you can get in my opinion. The GS has largely been sold by media and by many enthusiasts as the C7 to own. Adequately powered, extremely capable, etc. That being a 2017, it's the "cheapest" C7 GS one could buy, so I feel those values are going to hold off regardless what comes out. There is DEMAND waiting for C7 GS's...by enthusiasts and by people who want the perks of the wide car without the cost of the C7Z.
I'd buy that car if it's within your means...as long as it's a good deal. You've got 2019 and 2020 GS owners who have more to worry about than you do, as long as your price and loan is right.
With C7, the issue was, people who'd paid good money on 2013 Z06's got trapped in them, or took a small hit because the C7Z51's and anticipation of C7Z's were in play. Right now, a GS of that year is as safe as a C7 buy as you can get in my opinion. The GS has largely been sold by media and by many enthusiasts as the C7 to own. Adequately powered, extremely capable, etc. That being a 2017, it's the "cheapest" C7 GS one could buy, so I feel those values are going to hold off regardless what comes out. There is DEMAND waiting for C7 GS's...by enthusiasts and by people who want the perks of the wide car without the cost of the C7Z.
I'd buy that car if it's within your means...as long as it's a good deal. You've got 2019 and 2020 GS owners who have more to worry about than you do, as long as your price and loan is right.
Team Owner
Joined: Nov 2007
Posts: 45,278
Likes: 8,553
From: Rochester, NY
If it is the car you want buy it and enjoy it. Why worry about resale values, it is not like you are buying a house to flip for a profit. When the C8 comes out very doubtful it will have any significant impact on the C7 prices. As a matter of fact if the C8 is not well received due to factors such as design, price, or performance it could have a favorable impact on the C7 resale prices and demand. Nobody knows for sure and certainly nothing to worry about.
Thread Starter
Instructor
Joined: Aug 2018
Posts: 165
Likes: 34
From: North Cal
The resale value is comp to the relative market, not to what's ahead of it. C7's in the year JUST prior to the C8 will only become difficult to sell because if someone were to finance the number to get that last yr used C7, the step to a C8 would be obvious. That said, no one has a clue what C8 is, when it's actually going on sale, what the price is, etc.
With C7, the issue was, people who'd paid good money on 2013 Z06's got trapped in them, or took a small hit because the C7Z51's and anticipation of C7Z's were in play. Right now, a GS of that year is as safe as a C7 buy as you can get in my opinion. The GS has largely been sold by media and by many enthusiasts as the C7 to own. Adequately powered, extremely capable, etc. That being a 2017, it's the "cheapest" C7 GS one could buy, so I feel those values are going to hold off regardless what comes out. There is DEMAND waiting for C7 GS's...by enthusiasts and by people who want the perks of the wide car without the cost of the C7Z.
I'd buy that car if it's within your means...as long as it's a good deal. You've got 2019 and 2020 GS owners who have more to worry about than you do, as long as your price and loan is right.
With C7, the issue was, people who'd paid good money on 2013 Z06's got trapped in them, or took a small hit because the C7Z51's and anticipation of C7Z's were in play. Right now, a GS of that year is as safe as a C7 buy as you can get in my opinion. The GS has largely been sold by media and by many enthusiasts as the C7 to own. Adequately powered, extremely capable, etc. That being a 2017, it's the "cheapest" C7 GS one could buy, so I feel those values are going to hold off regardless what comes out. There is DEMAND waiting for C7 GS's...by enthusiasts and by people who want the perks of the wide car without the cost of the C7Z.
I'd buy that car if it's within your means...as long as it's a good deal. You've got 2019 and 2020 GS owners who have more to worry about than you do, as long as your price and loan is right.
Melting Slicks
Joined: Mar 2001
Posts: 2,145
Likes: 340
From: Just About 40 Min's from NYC
Sounds like a great rate, I would just check the used car books to confirm your priced correct for our market. Its a tough time as every one might want a C8 and our values can go to **** over night , or they could hate them and want a C7 . I can tell you buyer remorse is normally after you purchase
Safety Car
Joined: Aug 2003
Posts: 3,678
Likes: 34
From: Fayetteville GA
If it's everything you've been looking for, buy it. If you let it get away, you'll always be trying to find another one that meets your dream. May not happen again with everything you want on the car.
Melting Slicks
Joined: Dec 2017
Posts: 2,012
Likes: 955
From: Central Commiefornia
From an investment perspective, cars are the worst possible vehicle (pun intended)...
For me the return on investment is the smile I get every time I see the car, and the enjoyment of driving it both in normal traffic and in a "spirited" environment...
Resale shmesale... buy it to ENJOY IT... that's the payback!
For me the return on investment is the smile I get every time I see the car, and the enjoyment of driving it both in normal traffic and in a "spirited" environment...
Resale shmesale... buy it to ENJOY IT... that's the payback!
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Safety Car
Joined: Feb 2016
Posts: 4,980
Likes: 3,826
From: Bainbridge Island WA
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.
Team Owner
Joined: May 2004
Posts: 31,802
Likes: 2,423
From: DFW/Long Island
Cars are depreciating assets, every car loses value.
Burning Brakes
Joined: Oct 2017
Posts: 883
Likes: 407
Don't get cold feet and let it slip away. These are excellent cars. The fun of owning them and driving them is well worth the price paid and the depreciation hit. I have no regrets about the decision to purchase mine. (Even though my wife just about burned me alive when I showed up with it unannounced.)
Burning Brakes
Joined: Dec 2015
Posts: 1,232
Likes: 421
From: Lake of the Ozarks, Missouri
If you were to die next week, on the way to the pearly gates would you "regret" if you passed on buying the car? You never know what is around the next corner, live for today!
Team Owner
Joined: Aug 2007
Posts: 136,140
Likes: 2,433
From: I live my life by 2 rules. 1) Never share everything you know. 2)
St. Jude Donor '11-'12-'13, '16-'17-'18
I sold my '14 Z51 and recently bought a '19 GS, equipped the way and in the color I wanted (ordered it) , all the while knowing full well the anticipation (and inevitability) of the C8. I was able to buy it at 13% off MSRP which only sweetened the deal.
I have no regrets
I have no regrets
Thread Starter
Instructor
Joined: Aug 2018
Posts: 165
Likes: 34
From: North Cal
Safety Car
Joined: Jan 2018
Posts: 3,952
Likes: 1,369
From: Mesa AZ
66% is good, if its the car you want make the deal. You can't think about what happens when the new model comes out as new models aways do. If you think like that, you'll never buy a new car. Get it, and enjoy it.
Team Owner
Joined: Aug 2006
Posts: 24,697
Likes: 1,180
From: Raleigh
It’s going to depreciate. Sounds like your purchase price is good, sounds like you like the car. If you can afford it buy it and enjoy it. Let the depreciation fall where it may. Chalk it up to the cost of fun.
Le Mans Master
Joined: Dec 2014
Posts: 6,140
Likes: 2,745
From: Northeast
Not sure about the commitment remark, as I’ve never considered buying a car with the intent of infinite ownership. I know that I’ll eventually trade it in on something newer when I get bored, but I certainly don’t fret over resale knowing that most all cars depreciate... 2017 GS included.
If you managed to have found your “dream,” and it’s the “right car,” and it’s within your budget, then “pull the trigger.” Chasing newer and better will never be caught, so try to enjoy what makes you happy today.
If you managed to have found your “dream,” and it’s the “right car,” and it’s within your budget, then “pull the trigger.” Chasing newer and better will never be caught, so try to enjoy what makes you happy today.
Moderator
Joined: Feb 2006
Posts: 39,156
Likes: 18,001
From: DFW Area TX
Autobytel 10 Sports Cars:That Hold Their Value
KBB Best Resale Awards - High Performance Car
Chevrolet Corvette - Undercutting every single direct competitor with a vengeance, the Chevrolet C7 Corvette comes with an obvious advantage in the resale value category. What has always been a powerful muscle car is now a bona fide track star and borderline luxury car, as well. When you bring that kind of performance to the $60,000 price segment, sometimes one-half or even one-third the price of offerings from Porsche and Ferrari, the used market will be kind. This rings true for the base Corvette Stingray, the sharper Corvette Grand Sport, and the mighty Corvette Z06 alike. Chevrolet struck gold with its newest halo vehicle, and owners can feel confident they’ll do the same.
#3 - Chevrolet Corvette resale value is booming as big as Chevy's V8-powered grin machine leaps off the line and stitches corners together with track-chilling accuracy.
Resale Value
Resale Value
- at 36 months: 51.1%
- at 60 months: 37.4%