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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, 06:50 PM
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GShunter
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Default 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?
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Old 02-12-2019, 06:53 PM
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speedlink
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If you like the price go for it. When the C8 finally is introduced, there will be quite a few buyers that will want the C7 for quite a while!
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Old 02-12-2019, 06:56 PM
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K.I.T.T.
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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.
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Old 02-12-2019, 07:00 PM
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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.
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Old 02-12-2019, 07:07 PM
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GShunter
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Originally Posted by K.I.T.T. View Post
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.
Well said, my local bank is pretty good, actually i should say awesome. They offer a 2.7% at 60 months. Based on my research, thats pretty good for a used car.
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Old 02-12-2019, 07:12 PM
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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
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Old 02-12-2019, 07:14 PM
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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.
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Old 02-12-2019, 07:17 PM
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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!
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Old 02-12-2019, 07:22 PM
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mschuyler
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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.
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Old 02-12-2019, 07:24 PM
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Thunder22
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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.
I was just about to say something similar, he hasn't even bought the car yet and he's worried about selling it.

Cars are depreciating assets, every car loses value.
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Old 02-12-2019, 07:39 PM
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If it helps any I traded a 2013 3LZ C6 Z06 in 2017 for $46K at a Cadillac dealership. It was low mileage
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Old 02-12-2019, 07:41 PM
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Billy346
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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.)
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Old 02-12-2019, 07:41 PM
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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!
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Old 02-12-2019, 07:44 PM
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KenHorse
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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
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Old 02-12-2019, 07:46 PM
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Originally Posted by Bajaholic View Post
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!
Fair point, i dont want this car to be the one that got away
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Old 02-12-2019, 07:47 PM
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SingleTrackMinded
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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.
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Old 02-12-2019, 07:47 PM
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Somebody else already took the big depreciation hit. You won’t get hurt too bad. All cars go down in value every year.
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Old 02-12-2019, 07:48 PM
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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.
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Old 02-12-2019, 07:52 PM
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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.
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Old 02-12-2019, 07:54 PM
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Autobytel 10 Sports Cars:That Hold Their Value
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.
KBB Best Resale Awards - High Performance Car
#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
  • at 36 months: 51.1%
  • at 60 months: 37.4%
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