Used Corvette purchasing question about value
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Heel & Toe
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Used Corvette purchasing question about value
I’m currently looking for a c7 for 30-35k. What should I get if I’m looking for the least depreciation ? ( I’m gonna sell the car within a year and get a hellcat or z06) Should I get a 14 or 15+ if I want auto? I found a guy selling a 14 6-spd auto 3lt with 47k mileage for 30k, is that a good deal?
Race Director
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From: SE WI
I'm not a depreciation expert but I'd think the 14 with those miles has had most of its value depreciated. Also the 14 is known to have the best auto of all C7's. Without seeing the car and checking what its value is online, it sounds like a good deal.
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I’m currently looking for a c7 for 30-35k. What should I get if I’m looking for the least depreciation ? ( I’m gonna sell the car within a year and get a hellcat or z06) Should I get a 14 or 15+ if I want auto? I found a guy selling a 14 6-spd auto 3lt with 47k mileage for 30k, is that a good deal?
Drifting
Joined: Mar 2020
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From: Upper Michigan
I would use KBB trade value as a reference. I also recently shopped for a used C7. I found that the newer models with low mileage seem to hold there value. Mileage would be one of my main concerns. I sell and trade my cars every couple of years and low miles has helped me with resale. I missed out on a 2017 1LT with 3200 miles for 39K. It was just like new and a dealer picked it up for resale. The deals are out there. Shop Autotrader and Cars.com. I found some good deals in the past at a distance and had the car shipped to my door. Good luck on your future purchase!
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I have been very happy with my ‘14 A6. $30K for the ‘14 you mention is not a bad deal if the car has no problems.
Safety Car
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30K is a good deal with those miles as long as there are no issues, clean title, no accidents, etc.... Did a quick nationwide search and this is the best deal I could find currently on a 14' or 15' coupe with what appears to be a clean bill of health as long as 5 owners does not scare you. It is a 2LT which is nice vs a 1LT. Personally I would go with a 14' with the A6 vs a 15' with the A8 all other things about the car being equal.
https://www.bobsteelechevy.com/Vehic...gurus_listings
https://www.bobsteelechevy.com/Vehic...gurus_listings
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Thread Starter
Heel & Toe
Joined: Apr 2020
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That’s exactly what I’m doing. But most sellers right now price their car way more than trade in value, many even more than a private value range.
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Heel & Toe
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I think that is the cheapest c7 with under 50k mileage, but it does fall within the kbb private sell range. The car is already taken by someone else, and I will keep looking for my first vette.
Thread Starter
Heel & Toe
Joined: Apr 2020
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I would use KBB trade value as a reference. I also recently shopped for a used C7. I found that the newer models with low mileage seem to hold there value. Mileage would be one of my main concerns. I sell and trade my cars every couple of years and low miles has helped me with resale. I missed out on a 2017 1LT with 3200 miles for 39K. It was just like new and a dealer picked it up for resale. The deals are out there. Shop Autotrader and Cars.com. I found some good deals in the past at a distance and had the car shipped to my door. Good luck on your future purchase!
Drifting
Joined: Nov 2005
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to paraphrase an ancient saying " “In the country of the poor, the cash buyer man is king”
You've got a wad of cash today. Keep it. Add to it, THEN buy that demon or Z06 when the pot allows, or maybe it stays the same.. in this financial upheaval, there is simply going to be fewer buyers for luxury goods, like Corvettes and Demons. Prices will fall. it will take less money will buy MORE car.
Buy a place holder today and it may be your long term car next year and for a few more years. Simply because there will be no buyers at the price for which you would let it go.
Anecdotal experience. My brother has been looking for another vette for months. used to be the minute he pushed the "value my trade" button a dealers salesman would be all over him like white on rice. Since mid-March when he has solicited a trade-in quote......Crickets.....no calls, emails or texts from dealers wanting to talk to him.
You've got a wad of cash today. Keep it. Add to it, THEN buy that demon or Z06 when the pot allows, or maybe it stays the same.. in this financial upheaval, there is simply going to be fewer buyers for luxury goods, like Corvettes and Demons. Prices will fall. it will take less money will buy MORE car.
Buy a place holder today and it may be your long term car next year and for a few more years. Simply because there will be no buyers at the price for which you would let it go.
Anecdotal experience. My brother has been looking for another vette for months. used to be the minute he pushed the "value my trade" button a dealers salesman would be all over him like white on rice. Since mid-March when he has solicited a trade-in quote......Crickets.....no calls, emails or texts from dealers wanting to talk to him.
Thread Starter
Heel & Toe
Joined: Apr 2020
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the used price for hellcat is stupidly high. There are tons of hellcats sitting in the lot for more than 6 month and still unwilling to lower price. For z06, it’s just out of my price range right now. I want to experience all American cars before I go back to my country.
Thread Starter
Heel & Toe
Joined: Apr 2020
Posts: 13
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to paraphrase an ancient saying " “In the country of the poor, the cash buyer man is king”
You've got a wad of cash today. Keep it. Add to it, THEN buy that demon or Z06 when the pot allows, or maybe it stays the same.. in this financial upheaval, there is simply going to be fewer buyers for luxury goods, like Corvettes and Demons. Prices will fall. it will take less money will buy MORE car.
Buy a place holder today and it may be your long term car next year and for a few more years. Simply because there will be no buyers at the price for which you would let it go.
Anecdotal experience. My brother has been looking for another vette for months. used to be the minute he pushed the "value my trade" button a dealers salesman would be all over him like white on rice. Since mid-March when he has solicited a trade-in quote......Crickets.....no calls, emails or texts from dealers wanting to talk to him.
You've got a wad of cash today. Keep it. Add to it, THEN buy that demon or Z06 when the pot allows, or maybe it stays the same.. in this financial upheaval, there is simply going to be fewer buyers for luxury goods, like Corvettes and Demons. Prices will fall. it will take less money will buy MORE car.
Buy a place holder today and it may be your long term car next year and for a few more years. Simply because there will be no buyers at the price for which you would let it go.
Anecdotal experience. My brother has been looking for another vette for months. used to be the minute he pushed the "value my trade" button a dealers salesman would be all over him like white on rice. Since mid-March when he has solicited a trade-in quote......Crickets.....no calls, emails or texts from dealers wanting to talk to him.
Safety Car
Joined: Aug 2018
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From: Western WI
Anecdotal experience. My brother has been looking for another vette for months. used to be the minute he pushed the "value my trade" button a dealers salesman would be all over him like white on rice. Since mid-March when he has solicited a trade-in quote......Crickets.....no calls, emails or texts from dealers wanting to talk to him.
You CAN sell a Corvette during a Pandemic you just have to price the car to sell. Then turn around and pick up the replacement for a great Pandemic priced deal as well. In the end the result winds up being nearly exactly the same exchange but guys come on this forum all the time wondering why dealers and owners are not giving away their Corvette's and then when it comes time to sell or trade wonder why they cannot get top dollar for their car... Endless cycle.
Last edited by JDSKY; Apr 9, 2020 at 12:33 PM.
Thread Starter
Heel & Toe
Joined: Apr 2020
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Mid-March and no buyers or dealers willing to take a trade? That's a surprise......If he wanted another Vette six months ago he should have listed his car for sale six months ago and found the Vette he wanted at the going rates. What probably happened is he wanted more for his car than he was willing to sell or trade it for AND he wanted the deal of the century or at least to pay much less than what that replacement Vette was actually worth.
You CAN sell a Corvette during a Pandemic you just have to price the car to sell. Then turn around and pick up the replacement for a great Pandemic priced deal as well. In the end the result winds up being nearly exactly the same exchange but guys come on this forum all the time wondering why dealers and owners are not giving away their Corvette's and then when it comes time to sell or trade wonder why they cannot get top dollar for their car... Endless cycle.
You CAN sell a Corvette during a Pandemic you just have to price the car to sell. Then turn around and pick up the replacement for a great Pandemic priced deal as well. In the end the result winds up being nearly exactly the same exchange but guys come on this forum all the time wondering why dealers and owners are not giving away their Corvette's and then when it comes time to sell or trade wonder why they cannot get top dollar for their car... Endless cycle.
Safety Car
Joined: Aug 2018
Posts: 3,977
Likes: 1,822
From: Western WI
you are absolutely right, and that is what people are think when they try to sell their car and get another car. In general, cheaper car will not be affected by the corona virus as much as those joy car( corvette), so I think but a corvette in this situation is a good option, just wait for some time for the market
Melting Slicks
Joined: Oct 2016
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From: Lehigh Valley PA
Download Corvette DNA. Look up the year, model, options, etc you want and it will tell you the value of that specific car. That will give you the ammunition you need when going to go see a used Vette. If you find a Vette you like, add all the details of that car into Corvette DNA and see how close it is to the asking price. If the asking price is lower - you are either getting a good deal or there is some bad history with the car. If the price is close or higher - then you know what to negotiate too.
Its worked on the past 6 Vette's Ive purchased in the past 4 years and I havent lost a dime on anyone Ive ever sold.
Its worked on the past 6 Vette's Ive purchased in the past 4 years and I havent lost a dime on anyone Ive ever sold.
Tech Contributor
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The big depreciation hits come in the first two to three years after that depreciation percentage drops way off. The major hit comes on the first day you drive out of the dealer's lot with the car.
Bill
Bill