C7 Prices
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Heel & Toe
Joined: Nov 2022
Posts: 17
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C7 Prices
I keep reading about C7 prices becoming slightly better for buyers more recently than last year. Is there an explanation for this or is this not the case? I know we won’t see 2019 prices but I’m trying to gauge if it’s better for me to wait longer to buy one. Thanks.
Burning Brakes
Joined: Mar 2022
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From: Hershey, PA
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There was just another thread on this recently. I bought mine this past spring and I continued to watch prices fall as the year went on. Not drastically, but they have come down. There's many different reasons for this. Time of year certainly has something to do with it, a lot of people think a recession is coming, and we knew the crazy market was just never going to last forever. Also, the fact that more people might be trading in their C7's for C8's so you're seeing more on the market.
You could go on and on buy you get the idea. As far as when to buy, that's almost like gambling. You can continue to wait and see how low prices really go. I bought when I found the exact car I was looking for. I knew I was paying more for it, but I had the money and didn't want to "let this one get away."
Good luck with your search!
You could go on and on buy you get the idea. As far as when to buy, that's almost like gambling. You can continue to wait and see how low prices really go. I bought when I found the exact car I was looking for. I knew I was paying more for it, but I had the money and didn't want to "let this one get away."
Good luck with your search!
Le Mans Master
Joined: Feb 2006
Posts: 5,979
Likes: 4,142
From: Kansas City, MO
If you want one of the dime-a-dozen generic specs, then wait. Black/white/red car, black interior, few options, average mileage, etc. Those are cheap and will continue to get cheaper, and they're always available.
If you want something special with unique options, hard to find colors, or especially low mileage, then buy it when you find it if you have the means. I had been looking for a very specifically spec'd Grand Sport Collector's Edition for about 2 years. The stars finally aligned and I was able to snag one when it popped up and another buyer backed out. It was a little above market, but I don't care. I'm going to hang on on to it for a long time. I'm driving it and enjoying it instead of wringing my hands trying to time the market to save a few bucks.
If you want something special with unique options, hard to find colors, or especially low mileage, then buy it when you find it if you have the means. I had been looking for a very specifically spec'd Grand Sport Collector's Edition for about 2 years. The stars finally aligned and I was able to snag one when it popped up and another buyer backed out. It was a little above market, but I don't care. I'm going to hang on on to it for a long time. I'm driving it and enjoying it instead of wringing my hands trying to time the market to save a few bucks.
Racer
Joined: Oct 2022
Posts: 436
Likes: 227
From: San Diego
To the OP, yes, they have been coming down a bit in price over the past year. I just bought my 2019 in July and noticed they already had been coming down a bit by then. I'm sure as financing gets more and more expensive that has affected prices a lot.
In general I've noticed since the beginning of the year that prices.. at least in California have come down about ten percent in general.
Le Mans Master
Joined: Jul 2004
Posts: 5,040
Likes: 939
From: Bonney Lake Washington
Reasons for prices returning to a more "normal" state:
A. Time of year
B. Much higher interest rates makes buying more expensive so used looks better
C. Finally seeing some new car stock, depending on maker, from just a few days supply to weeks
D. Higher interest rates for dealers means cars sitting costs much more, impetus to finally deal below sticker on some new cars
E. (Reasonable) frustration with car prices meant less actual purchases
A. Time of year
B. Much higher interest rates makes buying more expensive so used looks better
C. Finally seeing some new car stock, depending on maker, from just a few days supply to weeks
D. Higher interest rates for dealers means cars sitting costs much more, impetus to finally deal below sticker on some new cars
E. (Reasonable) frustration with car prices meant less actual purchases
Corvette Enthusiast
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If you like it buy it. I purchased mine last February. Sure I overpaid. I have been enjoying the Corvette very much the last 10 months and you cant put a price on things that bring you joy.
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Melting Slicks
Joined: Jan 2018
Posts: 2,812
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From: Wauconda Il
I say if you see something you really want and could afford it pull the trigger now regardless of price. Especially if it’s something unique. May never find that combo again and you’ll be missing out on starting your many miles of smiles. Good luck . Happy Holidays!
Tech Contributor
Joined: Oct 1999
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From: Charlotte, NC (formerly Endicott, NY)
Bill
Racer
Joined: Oct 2022
Posts: 436
Likes: 227
From: San Diego
It might not be a good idea to wait since the recession may not happen. Unemployment is very low, there is a shortage of workers, fuel prices are dropping down to pre-pandemic levels and inflation is dropping. None of those things should cause a recession. All of the economic indicators are indicating we may have had a small recession a few quarters ago but for the future, they are pointing to no recession or a barely noticeable recession. However, if enough people believe we are going to be in a recession and pull back on their economic activity in order to reduce expenses we will end up in one due to herd mentality. If you don't want a recession or depression then don't act like you are expecting one.
Bill
Bill
I do feel like the recent tech layoffs are case of copycat syndrome. Companies laying off because of the fear of recession... Like it's some sort of self fulfilling prophecy. Can really thank the media for that. "Loud Playoffs!" Lmao.
Instructor
Joined: Feb 2016
Posts: 190
Likes: 184
From: MD
If you want one of the dime-a-dozen generic specs, then wait. Black/white/red car, black interior, few options, average mileage, etc. Those are cheap and will continue to get cheaper, and they're always available.
If you want something special with unique options, hard to find colors, or especially low mileage, then buy it when you find it if you have the means. I had been looking for a very specifically spec'd Grand Sport Collector's Edition for about 2 years. The stars finally aligned and I was able to snag one when it popped up and another buyer backed out. It was a little above market, but I don't care. I'm going to hang on on to it for a long time. I'm driving it and enjoying it instead of wringing my hands trying to time the market to save a few bucks.
If you want something special with unique options, hard to find colors, or especially low mileage, then buy it when you find it if you have the means. I had been looking for a very specifically spec'd Grand Sport Collector's Edition for about 2 years. The stars finally aligned and I was able to snag one when it popped up and another buyer backed out. It was a little above market, but I don't care. I'm going to hang on on to it for a long time. I'm driving it and enjoying it instead of wringing my hands trying to time the market to save a few bucks.
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Yes, prices seems to be moderating a bit and of course for the colder states, winter has an effect on buying habits. If you happen to see a car that hits all the checkmarks on your wish list, you may want to go ahead and make the purchase - otherwise someone else will most likely grab the deal. I would say prices will continue the downward trend but it may be a slow decline.