C7 values getting weaker
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Melting Slicks
Joined: Mar 2003
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From: Port Saint Lucie, Florida
C7 values getting weaker
Hi
Do to the 2020 mid engine coming out how bad do you think it will hurt C7 sales. Today there are deals on new C7’s. But what about resales?
Do to the 2020 mid engine coming out how bad do you think it will hurt C7 sales. Today there are deals on new C7’s. But what about resales?
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Jan 18, 2020, 11:57 PM
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Don't think it will do anything more than what the introduction of past generations did. The C7 will continue to depreciate. There will still be buyers that like the FE cars and will not want to spend the cash for a C8 right now. Perhaps those that absolutely have to have a manual tranny will be willing to pay a premium for one - I could see that happening.
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From: Gulf Coast AL
You’ve asked this before https://www.corvetteforum.com/forums...rt-the-c7.html and there have been a number of recent threads on the same topic... just do a google search (forum search is lacking) on the subject. Nobody can predict what will happen, but there are just as many reasons why the C8 won’t likely impact the C7 pricing very much as there are reasons why it might. For those that want a manual transmission, the C8 isn’t on their radar. For those that don’t like buying the first year of a new, radically different generation of a car... the C8 won’t be on their radar for at least a couple of years. There were enough preorders that there won’t likely be a significant number of C8s available for purchase on dealership lots for a while to come, and the few that are available will likely be at a large markup... so again they won’t likely have a large impact on C7 pricing. Everybody that is waiting around to find pristine, low mileage, clean title C7s for the price of a Corolla will be waiting a very long time.
Melting Slicks
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Well first off the base C7's at big discount and C8 are two different price points two different buyers. The C7 Z06 is selling out in manual. The C7Z06 will hold it's money over all the rest considering the discounts. Lower production
plus the 650 hp makes it a winning car to hold. C7 guys want to upgrade to them.
C8's will see what is up after they get smoked by the Z06's running around most have at least intakes. Which gets them a big power to weight advantage. The 0-60 is only good from a dead stop where the traction and gears give it the number. But highway rolls are different it becomes a power to weight battle. MY GUESS! The track numbers from the Z06's will show it considerably still beating GT 500 and C8 at the track just it will be much faster getting respect low numbers so prices will keep very well as the hot car!
plus the 650 hp makes it a winning car to hold. C7 guys want to upgrade to them.
C8's will see what is up after they get smoked by the Z06's running around most have at least intakes. Which gets them a big power to weight advantage. The 0-60 is only good from a dead stop where the traction and gears give it the number. But highway rolls are different it becomes a power to weight battle. MY GUESS! The track numbers from the Z06's will show it considerably still beating GT 500 and C8 at the track just it will be much faster getting respect low numbers so prices will keep very well as the hot car!
Last edited by SpeedyVette; Jan 18, 2020 at 11:42 PM.
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No one knows what will happen. Cars are not like the stock market. If the value of a particular model goes down, owners don't panic and sell so they can buy again before values go up. In fact, many owners simply decide to stay with the car they have, and that affects the model they intended to buy.
Consider that as the entry level price for used C7s enters a new lower level, buyers who have been waiting for it to hit that level, grab those cars quickly. It's happened to the C7 every year in the past and will continue that way. So yes, the C7 will continue to depreciate but nowhere near where the doom and gloom predicted by some.
However, if anyone wants to experience serious depreciation, just go out and buy a new C8 at full MSRP. Then in about 18 months to two years, when the discounts start, you can deduct two years depreciation and an additional amount for the discounts. Think about it, would you pay the same price for an equally equipped used C7 if you could have a new C7 for the same money with the same options? Of course not. That's what's going to happen to every one of those lining up to buy the new C8 this year.
Consider that as the entry level price for used C7s enters a new lower level, buyers who have been waiting for it to hit that level, grab those cars quickly. It's happened to the C7 every year in the past and will continue that way. So yes, the C7 will continue to depreciate but nowhere near where the doom and gloom predicted by some.
However, if anyone wants to experience serious depreciation, just go out and buy a new C8 at full MSRP. Then in about 18 months to two years, when the discounts start, you can deduct two years depreciation and an additional amount for the discounts. Think about it, would you pay the same price for an equally equipped used C7 if you could have a new C7 for the same money with the same options? Of course not. That's what's going to happen to every one of those lining up to buy the new C8 this year.
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Racer
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Melting Slicks
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If you bought used, the value is barely impacted... Right now, I can sell my 17GS Vert for at least $2,000 more than I paid for it... That's never an option when buying new - you always lose money. Some folks care - others dont... 
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Also Corvette sales are seasonal. In another two months prices will start rising as people who want one this coming driving season will be out looking for them. Best time to sell a Corvette is in the spring best time to purchase one is late fall or winter.
Bill
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Truthfully I think my MSRP was like 110k on mine and if you tried to give me that... I still would not sell it... absolutely love my car... first car I ever just loved everything about it... I must be in a minority, but have no interest in C8 at all, it's just a nice attempt so far... needs a lot of work, I have to like the lines and look of a car first before I consider it.. hopefully they will get there someday and I am above ground to see it.
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Melting Slicks
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I’m no going to repeat what Bill just posted I will agree with his post. If you are looking to sell now wrong time. In the spring will determine how the value is on the C7. Yes if you own. C7 Z06 common sense it will have a better Value especially M7.
Last edited by ZO6 cracker; Jan 19, 2020 at 02:34 PM.
Melting Slicks
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Traded my 14 Z51 M7 2LT with 37k miles in for $34,200 at the end of September. I found the dealer that bought it at auction and they initially listed it for $39,990, then $36,990, then $34,990 and it finally sold last week. I think I got out at a good time, wondering what it would be worth this spring