C7 value increasing
Burning Brakes
Joined: Apr 2018
Posts: 882
Likes: 486
Could be more and more smart folks knowing the C7 is the most advanced FE vette ever made, and it's a great looker too have decided they want one.
Racer
Joined: Feb 2019
Posts: 341
Likes: 272
From: South Florida
The pricing on C7 is through the roof. I got what I paid for my 2019 after nearly 2 years of driving it. I have a nothing special 1LT with front splitter and side skirts. I decided to sell early while I wait for my C8 to be delivered in Feb.
Le Mans Master
Joined: Sep 2012
Posts: 8,777
Likes: 145
Not sure if serious, but the next time that the auto version of a car is more desirable a few years down the line will be the first that I'm aware of.
The C7 is still new and probably doesn't matter yet, but ten years from now the manuals will be more desirable, as always.
If this market crash comes to pass, I'll be first in line to pick up the bargain basement priced manual 997s, 991, R8, ZR1s or whatever else is out there for cheap.
The listed dealer trade in value of mine is currently almost exactly what I paid brand new in May 2019... but as mentioned it is all newish daily driver-able cars that are affected.
We're about to sell my girlfriend's 2013 BMW; she bought it less than a year ago for 17xxx and going to list it for 25k.
Safety Car
Joined: Mar 2018
Posts: 4,754
Likes: 1,650
Not sure if serious, but the next time that the auto version of a car is more desirable a few years down the line will be the first that I'm aware of.
The C7 is still new and probably doesn't matter yet, but ten years from now the manuals will be more desirable, as always.
If this market crash comes to pass, I'll be first in line to pick up the bargain basement priced manual 997s, 991, R8, ZR1s or whatever else is out there for cheap.
The listed dealer trade in value of mine is currently almost exactly what I paid brand new in May 2019... but as mentioned it is all newish daily driver-able cars that are affected.
We're about to sell my girlfriend's 2013 BMW; she bought it less than a year ago for 17xxx and going to list it for 25k.
Keep dreaming. You are not keeping up with changing trends occurring in the automobile market and the rapid cultural changes occurring across America. Just like GM has abandoned the manual transmission in Corvette, current generations of Americans are doing so as well. People like you are in denial to what's occurring. C7s will never become a collectors car like the C2 did. Your C7 M7 eventually will find it's way in some field somewhere.
p...
Last edited by MMD; Nov 11, 2020 at 04:56 PM.
Le Mans Master
Joined: Jul 2004
Posts: 5,040
Likes: 939
From: Bonney Lake Washington
Its not just Vettes
Used car values are consistently up pretty well across the board:
a. Lack of supply of new (covid of course)
b. Lack of jobs; this wondrous covid/Trump disaster of an economy and the high unemployment it has created has priced new cars out of reach and has bled over
to the used car market
c. Banks and auto related loans are not as easy to get...still easier than a home mortgage but not the easy process it used to be plus banks/cu's
are charging more, especially to those on the economic fringe
I looked around about two months ago just out of curiosity and my little red Corvette sat with offers in the high thirties. I'm now seeing low to mid 40's. Paid 50 for the car
2 1/2 years ago.
Will it last? Of course not; traditional seasonal drops in sales, a better economy once a vaccine becomes widely distributed and the employment rate rises but if you're thinking of selling/trading in, now is the time (I'm not, retired, its paid for and with only about 16.6K miles much driving to do)
a. Lack of supply of new (covid of course)
b. Lack of jobs; this wondrous covid/Trump disaster of an economy and the high unemployment it has created has priced new cars out of reach and has bled over
to the used car market
c. Banks and auto related loans are not as easy to get...still easier than a home mortgage but not the easy process it used to be plus banks/cu's
are charging more, especially to those on the economic fringe
I looked around about two months ago just out of curiosity and my little red Corvette sat with offers in the high thirties. I'm now seeing low to mid 40's. Paid 50 for the car
2 1/2 years ago.
Will it last? Of course not; traditional seasonal drops in sales, a better economy once a vaccine becomes widely distributed and the employment rate rises but if you're thinking of selling/trading in, now is the time (I'm not, retired, its paid for and with only about 16.6K miles much driving to do)
Safety Car
Joined: Mar 2018
Posts: 4,754
Likes: 1,650
Used car values are consistently up pretty well across the board:
a. Lack of supply of new (covid of course)
b. Lack of jobs; this wondrous covid/Trump disaster of an economy and the high unemployment it has created has priced new cars out of reach and has bled over
to the used car market
c. Banks and auto related loans are not as easy to get...still easier than a home mortgage but not the easy process it used to be plus banks/cu's
are charging more, especially to those on the economic fringe
I looked around about two months ago just out of curiosity and my little red Corvette sat with offers in the high thirties. I'm now seeing low to mid 40's. Paid 50 for the car
2 1/2 years ago.
Will it last? Of course not; traditional seasonal drops in sales, a better economy once a vaccine becomes widely distributed and the employment rate rises but if you're thinking of selling/trading in, now is the time (I'm not, retired, its paid for and with only about 16.6K miles much driving to do)
a. Lack of supply of new (covid of course)
b. Lack of jobs; this wondrous covid/Trump disaster of an economy and the high unemployment it has created has priced new cars out of reach and has bled over
to the used car market
c. Banks and auto related loans are not as easy to get...still easier than a home mortgage but not the easy process it used to be plus banks/cu's
are charging more, especially to those on the economic fringe
I looked around about two months ago just out of curiosity and my little red Corvette sat with offers in the high thirties. I'm now seeing low to mid 40's. Paid 50 for the car
2 1/2 years ago.
Will it last? Of course not; traditional seasonal drops in sales, a better economy once a vaccine becomes widely distributed and the employment rate rises but if you're thinking of selling/trading in, now is the time (I'm not, retired, its paid for and with only about 16.6K miles much driving to do)
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Burning Brakes
Joined: Apr 2018
Posts: 882
Likes: 486
Plus, C7s
Let's not forget new car prices are up, discounts are less and fewer cars are available because of the shutdowns. There's also a demand for C7s that has only grown.over the last few months.
Has nothing to do with Trump's economy, which is roaring right now, or current unemployment which is now better than at any time during Obama's presidency. The slight blip in prices you're seeing in the Corvette used car market is not a Corvette thing. The entire used car market is on an uptick. It has to so with sever restrictions state democrats leaders had in restricting America's economy due to Covid. Manufacturing has been down badly for at least 6 months but is now recovering slowly now. Soon you will see used car prices move sharply downward when the new car market ramps up production in new cars and manufacturing is in full gear. If you're holding out to selling your used car later with the hopes of making a killing you will be sadly mistaken when you see used car prices plummet by summer 2021.
Last edited by C7nut; Nov 11, 2020 at 06:30 PM.
Advanced
Joined: Mar 2019
Posts: 53
Likes: 27
From: Michigan
I have owned many manual trans cars over the years, more than enough to know that I wanted my last Corvette (and most expensive car I ever bought) to be a manual, and got exactly what I wanted, not thinking about whether only 11% or is it 10 % of other people are gonna be interested in it, if it ever goes up for sale. And I’ll let my kids worry about what it’s worth. In the meantime, I’ll keep slapping that leather shift ball and telling myself what this car is worth to me. Just Sayin, Not Tellin ‘17 Vert Z06 Z07 3LZ M7
1964 Olds 442 M4
1978 Honda Civic M5
1989 Toyo GT A4
2013 Wrangler M6
1964 Olds 442 M4
1978 Honda Civic M5
1989 Toyo GT A4
2013 Wrangler M6
CF Community Team
Joined: Apr 2016
Posts: 14,106
Likes: 7,402
From: Pittsburgh
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Like the other posters stated, all used Corvette prices are up right now
Pro
Joined: Jun 2007
Posts: 647
Likes: 135
From: Big Canoe Georgia
It's all about supply and demand, right? If demand for the M7 is dwindling but the supply is dwindling at a faster rate, well then....................
Not sure about demand. Obviously low because so few were made when new. But is demand decreasing from this starting low position? Maybe so with an aging population, I simply do not know.
Supply is definitely dwindling as cars age out and no new ones are built.
Not sure about demand. Obviously low because so few were made when new. But is demand decreasing from this starting low position? Maybe so with an aging population, I simply do not know.
Supply is definitely dwindling as cars age out and no new ones are built.
Race Director
Joined: Sep 2007
Posts: 16,557
Likes: 2,106
From: Peoria/Phoenix AZ
C6 of Year Finalist (performance mods) 2019
Advanced
Joined: Feb 2017
Posts: 83
Likes: 41
C7 value increasing
I was amazed when my Chevy dealer salesman called me last week and told me he could sell my car at a great price if I was interested.
Mine is a 2015 Z06 Convertible with 9100 miles. I’m not interested in selling but it was nice to hear the value has gone up instead of tanking after the C8 arrived.
Mine is a 2015 Z06 Convertible with 9100 miles. I’m not interested in selling but it was nice to hear the value has gone up instead of tanking after the C8 arrived.
