Downward trend
Thread Starter
Drifting
Joined: Nov 2017
Posts: 1,325
Likes: 581
From: Conway South Carolina
Downward trend
I've been searching for the "Right" car for some time now, and there's been a definite drop in prices. I have a number of cars flagged for price reductions, and they're all going down. Many will say it's that time of year, but it's been trending down for awhile now. I'm on all the different sites looking, comparing, and keeping records of price drops. Even on sites such as BAT, I see a lot of bids that don't reach the sellers reserve for one reason or another. Even dealers are starting to see the handwriting on the wall. I've had two tell me recently that after lowering the price that it was as low as they would go, only to have them contact me a few days later to ask what I would offer. Then there's the rumor of Carvana going belly up, which would flood the market with a lot of C7's. Then there's the threat of a recession next year, and interest rates going up certainly aren't helping, but being a cash buyer that really doesn't affect me. But a lot of sellers seem to not want to let go of how prices were last spring. The market has definitely shifted. I'm not sure how to predict just how low they'll go, but for now I'll just sit on the sidelines and wait and see. Thoughts?
Popular Reply
Dec 24, 2022, 05:37 PM
Le Mans Master
Joined: Mar 2016
Posts: 9,160
Likes: 4,009
From: 2019 CMG Z06
Glad I waited to enjoy my dream Corvette by purchasing at an optimal price - Said no one ever on their deathbed.
Get it and enjoy it.
Merry Christmas
Get it and enjoy it.
Merry Christmas
Banned Scam/Spammer
Joined: Nov 2008
Posts: 4,381
Likes: 493
From: Central Fl. Leesburg
We're on the same page about this. I've been watching 2019 verts for 2 yrs and they're now back down to where they were 2 yrs ago. I just had my 2014 coupe beautified with paint correction and ceramic, looks too good to trade so I'll wait patiently. The '19 is now 4 yrs old!!!
Race Director
Joined: Oct 2011
Posts: 15,049
Likes: 1,613
From: Holly Springs NC
St. Jude Donor '16-'17,'22,'24
What I found is the Corvette market takes a big dip when the weather turns cold around mid-December. Dealers that have used Corvettes want to move them because the market won't turn around until mid-February. When you hit mid-February to March first, dealers start buying Corvettes to have inventory when spring hits so prices will be very stable or actually increase. .When spring comes, forget it. Prices only go up.
As for a recession, with this administration pumping money into the economy, even with a slow down in the stock market, the job market was still begging for people. So I don't know that a recession will affect C7 prices. However, a good indicator will be to watch used C8 prices. If they continue to fall it will affect C7 prices.
As for Carvana, I'm in the dark, but doubt that will have a huge impact on prices.
Most members here who have been in your position will tell you the same thing. If you're serious about buying, at some point you have to bite the bullet and buy. The point is, if you find a car you really like and want and the price seems good, buy it. That's exactly what I did. Bought mine on the first business day in 2016 and never looked back.
Instructor
Joined: Feb 2021
Posts: 227
Likes: 70
About 5 months ago, I bought a 2014 Z51 3LT with just 14k miles for $50k from Carvana. My son (20) returned from college, will be a commuter student driving 20+ miles each way, 5 days a week. I decided to sell my car, get two lesser used cars, one for him and one for me.
I returned to sell to Carvana, the car now with 19k miles. They offered me just $41k for it. Privately, tried to sell it locally and got two offers in the $47k range, turned them down.
My sons college resumes on January 19th or so. I will try and see if I get better offers. Local dealers are selling for $50k.
I returned to sell to Carvana, the car now with 19k miles. They offered me just $41k for it. Privately, tried to sell it locally and got two offers in the $47k range, turned them down.
My sons college resumes on January 19th or so. I will try and see if I get better offers. Local dealers are selling for $50k.
Corvette Stories
The Best of Corvette for Corvette Enthusiasts
10 Reasons the C6 Z06 is Still A Performance Benchmark After 20 Years
Joe Kucinski
How Much Horsepower Every Corvette Engine "LOST" in 1972
Joe Kucinski
Top 10 DOs and DON'Ts for Protecting Your Convertible Top!
Michael S. Palmer
Top 10 Most Explosive Corvettes Ever Made: Power-to-Weight Ratio Ranked!
Joe Kucinski
150 hp to 1,250 hp: Every Corvette Generation Compared by the Specs That Matter
Joe Kucinski
8 Coolest Corvette Pace Cars (and Replicas) of All Time
Verdad Gallardo
Top 10 Corvette Engines RANKED by Peak Torque (70+ Years of Muscle!)
Joe Kucinski
Corvette ZR1X Will Be Pacing the Indy 500, And Could Probably Race, Too!
Verdad Gallardo
Top 10 Corvettes Coming to Mecum Indy 2026!
Brett Foote
Team Owner
Joined: Sep 2010
Posts: 32,042
Likes: 4,610
About 5 months ago, I bought a 2014 Z51 3LT with just 14k miles for $50k from Carvana. My son (20) returned from college, will be a commuter student driving 20+ miles each way, 5 days a week. I decided to sell my car, get two lesser used cars, one for him and one for me.
I returned to sell to Carvana, the car now with 19k miles. They offered me just $41k for it. Privately, tried to sell it locally and got two offers in the $47k range, turned them down.
My sons college resumes on January 19th or so. I will try and see if I get better offers. Local dealers are selling for $50k.
I returned to sell to Carvana, the car now with 19k miles. They offered me just $41k for it. Privately, tried to sell it locally and got two offers in the $47k range, turned them down.
My sons college resumes on January 19th or so. I will try and see if I get better offers. Local dealers are selling for $50k.
Good luck getting "$50K private sale," when dealers are getting the same amount for them.
Administrator
Joined: Mar 2001
Posts: 368,136
Likes: 24,734
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
Yeah, good luck getting $50K on a private sale if dealers are asking that for theirs retail. But, you never know.
Drifting
Joined: Sep 2003
Posts: 1,927
Likes: 67
From: Saw' em off TX
Sounds like you’re trying to convince the market that it’s wrong. The market is never wrong. It is what it is. If you can’t get a cheap c7 yet then that’s the market price. If you wait and can get it cheaper then there you go.
there’s no doubt it will be cheaper one day but it will also be older and less modern. Take your pick.
there’s no doubt it will be cheaper one day but it will also be older and less modern. Take your pick.
Burning Brakes
Joined: Dec 2001
Posts: 886
Likes: 273
From: Greenwell Springs La.
Burning Brakes
Joined: Jun 2021
Posts: 801
Likes: 408
From: NC
Bought my 19 GS M7 new with a 12% discount. Keeping it for a long time. Sitting in heated garage with 2500 miles on it waiting for spring. The other stall in my garage will get a C8 as the prices come down from the moon. How's your Bitcoin doing? Over $50,000 a year ago. Cash will be king by next spring.
Last edited by Blackwater0323; Dec 25, 2022 at 05:22 PM. Reason: sp
CF Community Team
Joined: Apr 2016
Posts: 14,120
Likes: 7,414
From: Pittsburgh
2025 C6 of the Year Finalist - Unmodified
2024 C6 of the Year Finalist - Unmodified
2023 C6 of the Year Finalist - Unmodified
2022 C6 of the Year Finalist - Unmodified
2021 C6 of the Year Finalist - Unmodified
About 5 months ago, I bought a 2014 Z51 3LT with just 14k miles for $50k from Carvana. My son (20) returned from college, will be a commuter student driving 20+ miles each way, 5 days a week. I decided to sell my car, get two lesser used cars, one for him and one for me.
I returned to sell to Carvana, the car now with 19k miles. They offered me just $41k for it. Privately, tried to sell it locally and got two offers in the $47k range, turned them down.
My sons college resumes on January 19th or so. I will try and see if I get better offers. Local dealers are selling for $50k.
I returned to sell to Carvana, the car now with 19k miles. They offered me just $41k for it. Privately, tried to sell it locally and got two offers in the $47k range, turned them down.
My sons college resumes on January 19th or so. I will try and see if I get better offers. Local dealers are selling for $50k.
Team Owner
Joined: Nov 2007
Posts: 45,267
Likes: 8,542
From: Rochester, NY
What do I think you ask. Well bought my 2019 M7 Z06 Vert brand new in 2018 I believe 10% off msrp. But if I was in the market and found what I wanted I would buy it. I am not one to sit on the sidelines and wait for that ultimate deal or price drop, etc. etc.
Instructor
Joined: Apr 2018
Posts: 198
Likes: 102
From: Allegheny National Forest
About 5 months ago, I bought a 2014 Z51 3LT with just 14k miles for $50k from Carvana. My son (20) returned from college, will be a commuter student driving 20+ miles each way, 5 days a week. I decided to sell my car, get two lesser used cars, one for him and one for me.
I returned to sell to Carvana, the car now with 19k miles. They offered me just $41k for it. Privately, tried to sell it locally and got two offers in the $47k range, turned them down.
My sons college resumes on January 19th or so. I will try and see if I get better offers. Local dealers are selling for $50k.
I returned to sell to Carvana, the car now with 19k miles. They offered me just $41k for it. Privately, tried to sell it locally and got two offers in the $47k range, turned them down.
My sons college resumes on January 19th or so. I will try and see if I get better offers. Local dealers are selling for $50k.