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I’ve been looking for a C7Z for almost a full year. When I first started looking, M7 C7Zs with 100k MSRP were running about 50-60k. A year later, they’re 70-80k, a massive difference. They’re honestly leaving my price bracket and i’m hoping I can still get one.
Used cars obviously don’t usually appreciate, especially so soon. Even 458s and Huracans depreciate harder- their prices stabilize, but don’t appreciate much.
I can’t seem to understand why they are appreciating so drastically and am concerned about how this may affect the future value, or whether I should wait. My best theories are as follows, not in any order.
1. COVID inflation. It’s harder to buy cars at auction, and values of some other models of cars have been rising in conjunction.
2. The limited C8. Two years have been sold out for the C8; they are still sold at a significant markup (80-120k) for a 55k MSRP car. This means people want vettes but can’t get them, so they’re getting the C7Z, which is a comparative discount. I’m worried that once the C8 is widely available, C7 prices will fall hard.
3. C8Z. This is a double edged sword; maybe people are waiting for the C8Z to release, and buying C7Z until that happens. The C8Z will also have less hp and torque than the C7Z. Though it will undoubtedly be faster, some people like numbers and may buy the C7Z instead for that reason alone.
4. M7/Front Engine. People want to own the last generation of manual or front engine vettes. This is corroborated by the fact that M7s are sold at a premium to A8s, despite A8 being a 1K+ option and being the faster car.
Now this is all great stuff but i’m really not sure what to do. I don’t see how these prices can be sustainable- some of these 2015 C7Zs are being sold with 20K miles for only 10K less than their MSRP. I don’t want to buy used and get hit with severe depreciation instantly, which is suspect may happen when the C8 becomes widely available.
My options are basically to throw in the towel and get a lame GT-R or AMG-GT, wait for prices to drop (assuming they do and I have the patience), or to bite the bullet and buy a C7Z for around 70K. Would love to hear your thoughts and feedback.
Decent deals can still be found. Prices have risen a bit due to folks not being able to get a hold of new cars. I just sold my 17Z M7 for 68k. It had an original MSRP of 100k and feel we both got a fair deal.
around 70k isnt bad at all for a Z depending on color, trim, mileage, etc.. I had a few come up in the mid 60s to lower 70ks but they weren't exactly what i wanted.
so it comes down to your exact specs u want, which may make the price higher..
i was quite happy getting one in a color i liked for just under 62k with 22k miles back in late nov. this was having it shipped as well not seeing it in person.
i had a few pop up with lower miles, newer, better color but i didnt want to spend 75k+ before taxes and tags, etc..
i bought a vette because i wanted it, regardless of the prices going up or down or as an investment.
basically keep searching and u might need to expand your searching parameters or just keep at it.
It’s pretty simple, not everyone likes the new C8! They want the traditional front engine, manual, convertible Vette. I think they wanted to wait and see what they were like and said NOPE! It is what it is. Keep waiting...
I’ve been looking for a C7Z for almost a full year. When I first started looking, M7 C7Zs with 100k MSRP were running about 50-60k. A year later, they’re 70-80k, a massive difference. They’re honestly leaving my price bracket and i’m hoping I can still get one.
Used cars obviously don’t usually appreciate, especially so soon. Even 458s and Huracans depreciate harder- their prices stabilize, but don’t appreciate much.
I can’t seem to understand why they are appreciating so drastically and am concerned about how this may affect the future value, or whether I should wait. My best theories are as follows, not in any order.
1. COVID inflation. It’s harder to buy cars at auction, and values of some other models of cars have been rising in conjunction.
2. The limited C8. Two years have been sold out for the C8; they are still sold at a significant markup (80-120k) for a 55k MSRP car. This means people want vettes but can’t get them, so they’re getting the C7Z, which is a comparative discount. I’m worried that once the C8 is widely available, C7 prices will fall hard.
3. C8Z. This is a double edged sword; maybe people are waiting for the C8Z to release, and buying C7Z until that happens. The C8Z will also have less hp and torque than the C7Z. Though it will undoubtedly be faster, some people like numbers and may buy the C7Z instead for that reason alone.
4. M7/Front Engine. People want to own the last generation of manual or front engine vettes. This is corroborated by the fact that M7s are sold at a premium to A8s, despite A8 being a 1K+ option and being the faster car.
Now this is all great stuff but i’m really not sure what to do. I don’t see how these prices can be sustainable- some of these 2015 C7Zs are being sold with 20K miles for only 10K less than their MSRP. I don’t want to buy used and get hit with severe depreciation instantly, which is suspect may happen when the C8 becomes widely available.
My options are basically to throw in the towel and get a lame GT-R or AMG-GT, wait for prices to drop (assuming they do and I have the patience), or to bite the bullet and buy a C7Z for around 70K. Would love to hear your thoughts and feedback.
So, I got my C7Z for just under 70k with all the stickers/plastic wrap still on the car and less than 100 miles on it.
A few days before this car appeared, I was getting ready to buy a CPO AMG GTR with 1.5k mi. on it. At the time, I knew very clearly how horrible the depreciation is on AMGs is but never thought much about Corvettes. I was trying to negotiate the price down to 120k from 139k, knowing very well that it'll be worth 20k less in a year or two with my offer. The dealer didn't budge and I decided that the C7Z was the right car for me.
2 weeks after I got the C7Z, the dealer calls me saying that they accept 120k. I told them no thanks.
Half a year later, my C7Z is worth more than I paid for it and the GTR value keeps plummeting. One of the best decisions that I ever made - this is my first American sports car and it blew me away more than any other car I've ever owned (I track my vehicles). Got on the wait list for the C8Z almost instantly.
Considering the numbers you're talking about, the 458 will be an atrocious investment. Every mile you put on a Ferrari destroys it's value and brings the engine closer to inevitable failure. The Huracan is probably a decent option - great engine, etc but they will keep holding their value even with some mileage.
Decent deals can still be found. Prices have risen a bit due to folks not being able to get a hold of new cars. I just sold my 17Z M7 for 68k. It had an original MSRP of 100k and feel we both got a fair deal.
So, I got my C7Z for just under 70k with all the stickers/plastic wrap still on the car and less than 100 miles on it.
A few days before this car appeared, I was getting ready to buy a CPO AMG GTR with 1.5k mi. on it. At the time, I knew very clearly how horrible the depreciation is on AMGs is but never thought much about Corvettes. I was trying to negotiate the price down to 120k from 139k, knowing very well that it'll be worth 20k less in a year or two with my offer. The dealer didn't budge and I decided that the C7Z was the right car for me.
2 weeks after I got the C7Z, the dealer calls me saying that they accept 120k. I told them no thanks.
Half a year later, my C7Z is worth more than I paid for it and the GTR value keeps plummeting. One of the best decisions that I ever made - this is my first American sports car and it blew me away more than any other car I've ever owned (I track my vehicles). Got on the wait list for the C8Z almost instantly.
Considering the numbers you're talking about, the 458 will be an atrocious investment. Every mile you put on a Ferrari destroys it's value and brings the engine closer to inevitable failure. The Huracan is probably a decent option - great engine, etc but they will keep holding their value even with some mileage.
Don't overthink it - get the Z
458 & Huracan are out of my range, but I do think the 458 is timeless. If I could get a Z for 70k with no miles I would in a heartbeat but I don’t have that option. Only reason I mentioned AMG-GT is because I think it’s closer to bottoming out depreciation-wise. Also about 70K used, but 120-160K MSRP.
Wait at least until the winter. Vette prices will be down because of the season, and Covid will probably be over. And there might be news about the C8 z coming out.
Both of those are more supply crunch then infaltion. We haven't had inflation hit yet, wait until it does. Meanwhile there just isn't enough supply of houses or cars:
“Demand is perfectly stimulated from improving consumer sentiment, recovering jobs, accumulated pandemic savings, tax refund season, and American Rescue Plan cash payments,” *** Chief Economist Jonathan Smoke said in an email. “Supply was decimated last year by COVID-19 shutdowns reducing new vehicle production, and used supply was reduced from strong demand last summer. Production remains limited as supply chains struggle to overcome issues like the semiconductor shortages.”
When we started working from home, I sold my C7 M7 2014 with the idea of saving the monthly payment and insurance because the car was sitting in the garage for 5 months. My intention was to save that money and use it to have a higher down payment for a z06 when I was required to go back to the office.
I am going back to the office next month, my plan was designated to fail with actual prices, I would be paying more today including the savings. Good thing, few days after I sold the C7 base I found locally a Z07 M7 2LZ 9k miles with an asking price of 62k and I ended getting it for 58k. I have seen similar cars in the mileage range for 67-69K today.
Remember that there are a number of folks in the Corvette resale world who know a Hell of a lot more about long term value trending than we do.
When my 1994 C4 ZR1 was almost four years old, I realized that a factory replacement engine was still selling for around $32,000. I went down to see Corvette Mike in Anaheim, California and Dick Guldstrand in Culver City and asked, “Are these ZR1s going to appreciate significantly in the future or can I safely sell it now? They both said feel free to sell it. Corvette Mike in particular said, the future appreciation point is generally around 400 units. Once it goes well last that production number, you need to consider that you might have a car that will most likely not leap in value in less than about 20 to 30 years.
I bought that max equipped Z new for $54,000 due to the revolt by other buyers over the months long delay in getting transmissions to the Bowling Green factory. I was lucky. At the sell point for me, 3+ years later, I was able to get $42,000 and Corvette a Mike that because of general desirability issues, it probably would not drop much in the next 10 years nor would it go up much. Both Mike and Dick were dead on and I valued their counsel.
I’m only saying that it may we’ll be that that magic “400” number may still kind of apply when considering what C7 ZR1 and even C7 Z06 car valuations will do over the next 10 years or so.
Just finished ordering 2021 Dodge Limited Big Horn today. Dealer asked what I would take for my ‘19 Z 2LZ M7 LBR/Kalahari & I said $70K. After he scanned the door barcode for all equipment & looking it over casually, he said I was undervaluing it. Have you ever heard of such a thing from a dealer 😳? Few minutes later he repeated that. I explained the convenience (dealer trade-in) outweighed the dollar difference. He verbally told me if the rebates offered went up he would honor them also. CRAZY 😜. I guess today’s ride home in 70* sunshine with top off was it till I bring it back to them. Not going to chance getting in a wreck. I will miss this my 3rd C7. It ALWAYS put a smile on my face just starting it!!! First car I’ve ever traded where dealer owed me money back & no sales tax involved either since Arkansas deducts trade/sold vehicle from new car purchase price. I’ll keep my Forum membership in case I get lonely 😩
Last edited by madrob2020; 04-22-2021 at 08:26 PM.
As far as future valuation of C7 Z’s, keep in mind that Ferrari recently announced their production of a car with an 818 Hp 9,500 RPM naturally aspirated engine, the most powerful road car engine Ferrari has ever built. And, Ferrari has put that engine in their FE (as in Front Engine) 812 Superfast. So, as much as some in the Corvette fan world want to desperately believe, this move by Ferrari again indicates that the FE sports cars are not dead and and are not relics of a bygone era.
Whereas Ferrari has continued to produce both FE and ME sports cars, Corvette likely would have done the exact same thing except that Corvette needs an introductory price point of about $60,000 and they couldn’t maintain that target without abandoning any prospect of dual ME and FE car lines. There is nothing wrong with that real world decision by GM. They know their buyers very well after almost 70 years. The style and the performance must be there, but low sticker price remains the single overriding consideration and that is something that the Euros simply don’t have to be quite so worried about.
Would Corvette execs like to again bring out an updated FE car to be a marketplace companion to their wonderful C8? I believe that is quite likely, but not probable while they are wedded to such a rigid bottom line price point. Again, Corvette likely is trodding the smartest market savvy path, but in so doing they have had to give up a pretty phenomenal FE heritage and the unique utility of a track capable daily driver road trip high performance car with one of the few manual transmissions still around. That is a market that Corvette could perhaps still uniquely control and work to their advantage.
All of those economic and marketing considerations notwithstanding, if you have a C7 Z06 (Z07) or C7 ZR1, especially with the M7, you may be in a more favorable valuation position than many believe, especially with the looming leap to electric drive sports cars by Corvette and even most Euro companies. So, maybe just enjoy your unique C7 American made FE high performance cars and patiently see where the valuations go over the next few years.
I have no intention of getting rid of my Z but out of curiosity I requested a trade in value for my 2019 M7 1LZ (10K miles), definitely a sellers market.
By the way, last summer people here in these forums were saying the same thing "wait for winter, prices will go down" and never happened.
04-21-2021, 06:44 AM
C7Z value
