Used C7 value tanking
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Racer
Joined: May 2011
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Used C7 value tanking
Awhile back I ran a calculation using Kelly Blue Book on the value of my 2015 Z51 and thought it would interesting to see what the value is today after the C8 reveal. Not sure how accurate or how often they adjust their calculations based on demand but putting in the same data, the value of my car tanked a whopping $47. What I found interesting is that putting the same information into the calculation except changing the transmission from auto to manual, the value increased $1,354 which indicates the demand for a manual transmission.
If you believe Kelly Blue Book, the value of a used C7 is still not tanking as some would lead you to believe on the C8 board. Condition and mileage Is still the main factor but maybe this will change when the C8 actually becomes available. I believe those with manual trans may actually see higher demand in the future.
If you believe Kelly Blue Book, the value of a used C7 is still not tanking as some would lead you to believe on the C8 board. Condition and mileage Is still the main factor but maybe this will change when the C8 actually becomes available. I believe those with manual trans may actually see higher demand in the future.
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Jul 25, 2019, 04:42 PM
Burning Brakes
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I didn't buy mine as an investment or because I needed one. I brought it because I just wanted it.
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With a $47 drop in value, better rush out to the dealer and get on the C8 list. Sure do not want to take much more of a hit on the car. 
Le Mans Master
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No kidding. The C8 has been public for a whole week. This won't really be meaningful until C8s have been in private hands for at least a few months.
Melting Slicks
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From: Keizer Oregon
I would expect the hardest hit to be late model loaded Stingray's that sold for MSRP or above. Someone who recently spent $80k on a loaded 3LT C7 will likely have a hard time unloading it for anything more than the base level C8.
I think Grand Sports and Z06's (particularly manual cars) will continue to depreciate at a normal rate as the C8 does not replace exactly what they do.
Additionally, older C7 Stingray's are already in a different price class than the C8. There are plenty of buyers out there for a $35k-$45k C7, that will not be shopping C8's
I think Grand Sports and Z06's (particularly manual cars) will continue to depreciate at a normal rate as the C8 does not replace exactly what they do.
Additionally, older C7 Stingray's are already in a different price class than the C8. There are plenty of buyers out there for a $35k-$45k C7, that will not be shopping C8's
Burning Brakes
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Drifting
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From: Raleigh, NC
C8 will tank the value now but indirectly. With dealers offering $12,000 to $20,000 off on 2019's short term prices in the auctions will kill used prices. Once the dealer inventory clears the market should stabilize at some level.
Last edited by BEAR-AvHistory; Jul 25, 2019 at 12:27 PM.
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Pro
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^^^ This - I do really like the C8 interior and the car in general. I have a Z06 so I'll take a harder hit in a year... but I don't quite trust platform until the car has been out a couple years. It is probably wise to wait a couple years and see what happens. The C7 is still a nice desirable car for those who don't want to stretch to something over $70k. As much as I do like the C8 I cannot bring myself to trade in my C7Z + cash to get a base C8. IMHO, In a couple years that gap will probably close as prices stabilize.
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I'm a former car dealer & I just traded my C5 for a 2014 Stingray coupe 3LT. I got a good deal and it was close to me. I may wait for a used C8 & trade up. 2014 will hold it's value starting in the 3rd year.
Le Mans Master
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^^^ This - I do really like the C8 interior and the car in general. I have a Z06 so I'll take a harder hit in a year... but I don't quite trust platform until the car has been out a couple years. It is probably wise to wait a couple years and see what happens. The C7 is still a nice desirable car for those who don't want to stretch to something over $70k. As much as I do like the C8 I cannot bring myself to trade in my C7Z + cash to get a base C8. IMHO, In a couple years that gap will probably close as prices stabilize.
Pro
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I've been looking at C6's to get an idea of how much my car will be worth in a few years if I do decide to get a C8. I was seeing $20-30k for a 10+ year non-widebody C6. It doesn't look like they go much lower than $20k unless you have a high mileage Corvette. Mine is manual is a '15 Z51 too, so it will be interesting to see if those prices match up in a few years.
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I have found when shopping for cars, that if properly filled out for condition/miles/etc, KBB is pretty accurate, in my area at least, for retail values that dealers are asking, and for the trade in that dealers offer. Whatever the bottom number is on trade in value, that's usually what the dealers are trying to offer, or just under that.
I ran my GS recently and found the value to be holding pretty well. It is an M7 and maybe that is part of it.
I have had the car a year, and the first 9 months of that, it was in the garage a lot. I decided to drive the crap out of it, and will continue to do so until 2nd or 3rd year of C8 and then buy one of those. I have 10k miles on my GS now, but typically put 12-15k a year as a daily driver, so it'll have 40k or so when I start looking for a C8. The GS is still a great car, and I will still enjoy it over the next year or two, but I do really like what I see of the C8 so far. My neighbor is #2 on the list of allocations at our local dealer, and is ordering the rapid blue. He will let me drive it when it arrives, so I'll get a lot better look and idea of the car when it arrives early next year.
I ran my GS recently and found the value to be holding pretty well. It is an M7 and maybe that is part of it.
I have had the car a year, and the first 9 months of that, it was in the garage a lot. I decided to drive the crap out of it, and will continue to do so until 2nd or 3rd year of C8 and then buy one of those. I have 10k miles on my GS now, but typically put 12-15k a year as a daily driver, so it'll have 40k or so when I start looking for a C8. The GS is still a great car, and I will still enjoy it over the next year or two, but I do really like what I see of the C8 so far. My neighbor is #2 on the list of allocations at our local dealer, and is ordering the rapid blue. He will let me drive it when it arrives, so I'll get a lot better look and idea of the car when it arrives early next year.
Race Director
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People get all excited when they see what KBB says their trade in value is, and then they visit a dealer and he offers them thousands less. Dealers make up their own rules when it comes to trade in value, KBB really means squat.
Drifting
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lol @ going by KBB. Go by real world numbers. These guys with their listed C7s for C8 $ will be keeping them. No one with sense will pay C8 $ for a C7 (C7 ZR1 not included as of today)
Drifting
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I've been looking at C6's to get an idea of how much my car will be worth in a few years if I do decide to get a C8. I was seeing $20-30k for a 10+ year non-widebody C6. It doesn't look like they go much lower than $20k unless you have a high mileage Corvette. Mine is manual is a '15 Z51 too, so it will be interesting to see if those prices match up in a few years.