When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
I have a low mileage C7 Z51 and just thought it would be interesting to see what one of these companies that offer to purchase your car would give me for it. First time about 4 months ago was the first offer. I put the same information in their website (same company) 6 weeks ago and to my surprise they offered me $2000 more for the car. Last week I did the same thing and they increased their offer another $2000 dollars (mid forties).
I wonder if demand for low mileage C7 is increasing due to not only the shortage of C8s but also the problems being posted with the C8.
I definitely did not expect value to increase.. Just wondering if C6 values increase when it was difficult to get a C7 in 2014 or is this more about the C8 problems or possible problems being posted
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)
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.
It’s a COVID thing, not a C7 thing... I just purchased a new truck and got top dollar on my traded truck. M7s should fetch more, but used car prices will eventually level out.
It’s a COVID thing, not a C7 thing... I just purchased a new truck and got top dollar on my traded truck. M7s should fetch more, but used car prices will eventually level out.
New car sales of manual transmissions have been waning for the better part of a decade. I believe I read in 2019 Corvette manual transmissions amounted to only 11% of total sales volume that year. Why would anybody with a M7 C7 think their vehicle value will be at a premium when the auto buying public has been moving away from manual transmissions?
New car sales of manual transmissions have been waning for the better part of a decade. I believe I read in 2019 Corvette manual transmissions amounted to only 11% of total sales volume that year. Why would anybody with a M7 C7 think their vehicle value will be at a premium when the auto buying public has been moving away from manual transmissions?
Because of the simple fact you cannot buy a new Corvette with a M7?. And haven't you noticed lately it is much easier to sell a M7 than a auto.
An article in US News and World Report about a year ago stated that only 18% of American drivers could operate a manual trans and that number is dropping quickly.
I've always had manual Vettes and one of my current DDs is a manual and it's unfortunate but in not too many years a very small % of Americans will even know what a manual trans is must less know how to drive one.
Drivers age plays a part in manual vs automatic. I have owned a number of manuals, including a C2 Vette, along with several DD. Enjoyed them all. I bought a new 2016 Stingray A8. Two years ago my left leg had problems and I could not even get in or out of the car. As things improved I was very happy that I had the A8!
From: In a parallel universe. Currently own 2014 Stingray Coupe.
C7 of the Year - Modified Finalist 2021
MO Events Coordinator
St. Jude Co-Organizer
St. Jude Donor '03 thru '25
NCM Sinkhole Donor
CI 5, 8 & 11 Veteran
Yes, used car prices overall are up, partly I believe because there is a general shortage of new cars on the lots for buyers to choose from. If you are looking to sell your car, now may be a good time.
In general used car values are up. The lack of new car sales has created a lack of used inventory.
C7 prices are up due to the lack of trade ins on the very limited supply of C8s. If you want new-ish Corvette right now you have no choice but to get a used C7. This is creating extra supply and demand pressure.
Because of the simple fact you cannot buy a new Corvette with a M7?. And haven't you noticed lately it is much easier to sell a M7 than a auto.
Now is the last time to unload your M7. There will be a market crash in manual transmission prices in the very near future. This tech is dead and nobody other than die hards are going to want them.
As a small side hobby, I like to buy, fix up and flip Vettes. I normally focus on C4's but even their prices are WAAAAY high right now... I used to pick up super clean C4s for around $7k to $9k are now asking $12k to $15k...its crazy. C6's that were around $30k to $32k are now asking $35k to $37k... And as we all know, C7 prices are insane right now.
It’s a COVID thing, not a C7 thing... I just purchased a new truck and got top dollar on my traded truck. M7s should fetch more, but used car prices will eventually level out.
When I asked my Corvette salesman how Covid was affecting their business he said they had a hard time getting good used cars for their lot. People hanging on for now.
It all comes down to supply and demand. C8s not very available if you want Corvette right now today, unless you want to be fleeced, but next best thing is available in the C7. And their supplies are diminished If there are particular options wanted. When a buyer finds what he, or she wants, they are willing to pay a premium.
As far as the auto vs manual thing. I do know that if someone wants a manual and has never driven one they can be taught to drive it in about 10 minutes. I did that with my two grandkids. One girl one boy about 20 years old. They learned very well, but said thanks, but no thanks. They would prefer automatics.
I swing both ways. No difference to me. When I buy the Corvette there are a number of things preferential over the transmission. I know I'm an outlier. But for the guys and gals that want a manual they better jump right on one if they find it. I think that they may be able to fetch a little more money. Just a guess on my part.
C7 value increasing
