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Which to buy...and when to buy? New C7 used C7 or wait for the C8?

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Which to buy...and when to buy? New C7 used C7 or wait for the C8?

 
Old 03-12-2019, 04:26 PM
  #1  
HRT
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Default Which to buy...and when to buy? New C7 used C7 or wait for the C8?

Soon to buy my first corvette !!! But which one🤔..
Seem like right now is a good time to buy new ... But it seems as each month rolls by the deals are getting better and better. I would hate to think I got a good deal and then see that someone else got a better deal. I hate getting rip off at a dealership .. If I buy new I would get a 1LT auto no options
Used C7s are priced very good right now. But buying a used car can be a blessing and a curse .. I know y'all understand. I really don't want to spend a lot of money on someone else's problems.. If I buy used I would spend less than 40k and hope to get a 2LT.
Then we have the C8!!!
Which in my mind is going to change the game.. Especially if the entry level price is about the same as the C7..
I would for sure get a base C8..
Well for now I'm confused..
thanks in advance for all the feed back... Y'all are a bunch of great people.. See you all on the road soon..
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Old 03-12-2019, 04:36 PM
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Depends on your financial situation... if you have money to burn buy a discounted C7 now. Enjoy it... trade and take the loss when the C8 comes out. If I couldn't afford to do that I would wait to see what the C8 brings before buying a C7. However, it could be over a year before C8s hit the dealers and even longer if you're not already on a wait list before you actually get one. So you could have 1.5 years of enjoying a C7.
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Old 03-12-2019, 04:38 PM
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Depends. First of the c8 isnt even announced yet. 2nd even if it was announced you dont know the price point. It could be a lot more than you wanna spend for a base.Third lets say its at a price point you can swing, it might not be one you can get for the first year or 2 if dealers are marking them for over msrp. That said if you were on a budget, i dont think waiting for the c8 is the right path for you.

New vettes hold thier value pretty well..if you bought it 4 years ago. I would avoid new vettes simply because the c8 is close to hatching which will drive the value of the c7 down when they debut. A used c7 is the sweet spot. As long as you do your due diligence, i say go for it now.
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Old 03-12-2019, 04:45 PM
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I dont think I woukd touch a C8 tge first two years. Whole new car design as well as new drivetrain. Let others help GM debug it. I was faced with same decision and figured I can enjoy my C7 a fes years and if I like the C8 can always upgrade later. If I ever move to C8 I would prefer a wide body model as well which typicallycomes a few years after initial release.
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Old 03-12-2019, 05:14 PM
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you can get 15% off or more on a C7. C8 you will be paying MSRP or more when it comes out. Something to consider, even a slight price bump bringing C8 to 60-65k compared to 45k-50k for a base C7.
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Old 03-12-2019, 05:20 PM
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Speculating about what happens when the C8 could cause you to miss out on great deals on a new C7. IF and thats a big IF the C8 is not received well then prices on C7's could go up and if the C8 is great then C7s will be cheaper. Buy now enjoy a great C7 and if the C8 floats your boat then the first year mark ups will disappear and then you can buy a C8
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Old 03-12-2019, 05:25 PM
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I would buy a new C7 now as I have the same concerns as you with buying used. Nobody knows when the C8 will be introduced, power plants, looks, performance or cost. As time goes on of course you will see better deals but when do you decide a deal is good enough and start enjoying your C7. Stop over thinking and waiting for the best deal ever. Get what you want ASAP and enjoy it.
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Old 03-12-2019, 05:28 PM
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Buy a C7 now and enjoy a few months of it being the most recent Corvette and the last front engine Corvette. Life is short...do it now and enjoy.
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Old 03-12-2019, 05:39 PM
  #9  
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HRT


Hey thank you for your kind words!

I found their are many intelligent and knowledgeable women and men on this forum as well!


It is imperative to review your financial position and your life goals for the future? ie Personal financial advisor?

Most importantly- We are facing a turbulent and volatile U.S. election, next year!

None of us can predict the outcome!

So hedge your bets, do a "cost benefit analysis," and follow the "least cost approach" if you must have a Corvette, now.

Regardless, the new C8 will ultimately accelerate our C7 deprecation initially. Over time who knows?

Many thanks,

Ray

Last edited by Rayland; 03-12-2019 at 05:54 PM.
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Old 03-12-2019, 05:46 PM
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No way your getting a good deal on C8. You'll be paying a premium for it right out of the gate. A mid engine 'Vette has been rumored for years, thus there is pent up demand for it and dealers will be taking advantage of this for sure. C7 stocks are pilling up already for this very reason. Advantage here is new C7s having great discounts (that will only improve) in order to clear out inventory. Of course the best deal is a used C7 because no matter how well these car's hold their value they still take that initial depreciation hit driving off the lot. Honestly with so many garage queens out there a used C7 is still very much "like new".

Personally I wouldn't wait... too many unknowns and time keeps ticking while you sit on the fence. If you want a 'Vette get one.
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Old 03-12-2019, 05:56 PM
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I would go with a nice slightly used C7, at least that away that new car depreciation has already been accounted for. So if you want to get out of it quickly it's not such a financial hit.
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Old 03-12-2019, 07:00 PM
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I bought my 2017 brand new (factory order) just over two years ago. I have one of the "garage queen" cars and have no bones about it. I doubt I will be in the market for a C8 at all -- as I am kind of "old school" and am not quite sure about the whole mid-engine thing. I also think that the C8 will be priced far above the C7........and you know dealerships will be adding ADP (additional dealer profit) to the bottom line price.

The C7 is a proven drive train and the cars have been reliable. There is probably no better time than now to get yourself behind the wheel of a new (or almost new) C7. Just be sure to get a MANUAL TRANSMISSION if you can - as the C8 is rumored to be automatic only.

Good luck!!
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Old 03-12-2019, 07:16 PM
  #13  
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Buy a good used C7 now. Ferrari took years to perfect the rear engine car --- do you think GM will have a 99% good record right out of production???
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Old 03-12-2019, 07:33 PM
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If the C8 looks anything like some of the renders we've seen get the nicest C7 you can afford
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Old 03-12-2019, 08:06 PM
  #15  
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Hey HRT, welcome! Im the only one on this but if you can wait and don't need a lot of storage GET THE 8......it will be great!
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Old 03-12-2019, 08:40 PM
  #16  
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HRT, There's one consideration that hasn't been mentioned, buying a certified used C7. A low mileage, certified used C7 comes with the remainder of the new car warranty, then GM adds one more year of B2B coverage. If you buy a C7 that has an in service date from early 2018 (like a late sale 2017) it will actually have the same warranty as a new C7. As for buying someone else's problem, you can be sure to avoid this by simply asking the dealer for the VIS report (this report shows ALL the repairs and maintenance performed on the vehicle. If there was a problem the VIS report will have it because the dealer doesn't get paid for warranty work unless they submit the work to GM via the computer system that generates this report. You can look at it like this, someone else broke in the car for you, assured you that it didn't have any gremlins/problems, then you come along and buy it for much less than a new, discounted C7.
I would include considering buying a certified used from a dealer that's a considerable distance from your house because if you've checked out the report on the car, plus the Carfax and the Autocheck, all that remains is viewing/driving the car you chose before paying for it.
It's a simple process that can save you thousands. Then if you like the C8, you can sell the C7. If you sell it privately, the warranty is transferable. Some dealers value a certified car at trade-in because they can resell it with the extended new car warranty.
You might want to consider this route if you can find what you want at a really good price because it's less risk than buying used with no additional warranty. BTW, you won't find many certified used C7s below $40K, but it can be worth the additional bucks.
FYI, I went this route and saved about 8 to 9% compared to buying a new, discounted C7.

Last edited by roadbike56; 03-12-2019 at 08:42 PM.
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Old 03-12-2019, 09:09 PM
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Never ever hesitate to buy new if you have the ability to do so. I bought a new, loaded, 3LT C7 convertible at a substantial discount off MSRP, (-20%).Absolutely no regrets!!

..Since GM started making C7s in 2013, I'm back into buying new Corvettes after a 43 year hiatus!!

..Many of us will trade for a new C8, and some of us with C7s, will just add another new C8 Corvette.



..
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Old 03-12-2019, 09:59 PM
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I pretty much always recommend getting something "newly used" - somebody else can eat that initial depreciation, and then you can enjoy a basically brand new car. My Z06 had 2,500 miles on it and I got a very reasonable deal - out the door for over 22% less than msrp, still have warranty intact, etc.

I'm tempted by the C8, but I will be enjoying my 2017 for 5-8 more years and then will evaluate if the C8 is right for me, no way I'd get the first (or likely second) model year of a new generation. Heck, I limited myself to 17's and up to make sure I didn't run into the heating issues that seemed to plague many early C7's.
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Old 03-12-2019, 10:16 PM
  #19  
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I wouldn't buy one of the first C8s as you won't know what you are getting quality wise and you will pay top dollar. New C7s are a bargain and the forum sponsor dealers have quite a bit to choose from.
Take you time and get what you want at a good price. Good luck!
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Old 03-12-2019, 10:20 PM
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From whatever spy pics I saw C8 doesnt look as good as C7 and absence of a manual is a big no to me , I am getting the C7 now.

Last edited by boss2k; 03-12-2019 at 10:21 PM.
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