Resale Value
Thread Starter
Burning Brakes
Joined: May 2018
Posts: 984
Likes: 574
From: Fort Worth, TX
Resale Value
The new ZR1 is definitely a marvel in terms of bang for the buck, however donyoi guys feel it will go the way of the C6 ZR1 where you can pick them up for cheap? I saw C6 ZR1s for less than my C7 Grand Sport and am considering one of those as I still think it’s amazing, not to mention faster than anything I’ve owned. Also depending on price I might try to grab a C8, another reason I think the price not hold on these C7 ZR1s.
Team Owner
Joined: Sep 1999
Posts: 41,732
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From: Springfield MO
GM **** on the guys who had purchased their C6 ZR1's at around $125,000, when they released the C7 Z06 for around $90,000.
That killed the resale value of a used C6 ZR1 in a heartbeat.
Better wait to see what kind of crap GM does to the C7 Z06/ZR1's's resale value when they release the mid engine Corvette next year for, say, $65,000 as some in the C8 section believe with all their little hearts.
That killed the resale value of a used C6 ZR1 in a heartbeat.
Better wait to see what kind of crap GM does to the C7 Z06/ZR1's's resale value when they release the mid engine Corvette next year for, say, $65,000 as some in the C8 section believe with all their little hearts.
Thread Starter
Burning Brakes
Joined: May 2018
Posts: 984
Likes: 574
From: Fort Worth, TX
That’s what I was thinking. I’ve heard all kinds of prices from about 70-120. I’ve also heard Starr power is 550-600. So if that’s the case at well under 100k I don’t see the resale value being good on a C7 ZR1.
Team Owner
Joined: Sep 1999
Posts: 41,732
Likes: 1,718
From: Springfield MO
But, when GM came out with the C6 Z06, they didn't **** on the C5 Z06 owners by having the C6 Z06 priced lower then the old C5 Z06, so my 1998 C5 held it's value extremely well.
I think my C5 had very little deprecation over my 10.5 year ownership. My C6 Z06 had a great resale value until GM **** on the C6 ZR1 owners driving the value of their cars down, which in turn drove the value of my Z06 down, which in turn drove the value of the base C6 down.
Last edited by JoesC5; Jun 9, 2018 at 08:35 PM.
Drifting
Joined: Nov 2017
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My 1998 C5 had a MSRP of ~$40,000 and I paid ~$39,000 for it. I traded it in 10.5 years later on a new C6 Z06. I purchased the C6 Z06 using a legitimate GM employees discount. No haggling over price as it was set by GM including the maximum DOC fee the dealer could charge me($75). THEN I made the deal on trading my C5 in. They allowed me $17,575 on it. They then put it on their used car lot at $21,500. It sold two weeks later to a guy in Kansas who was in town visiting his daughter when he drove past Reliable Chevrolet and saw my old C5 on their used car lot. He drove it home. I doubt that Reliable dropped the price very much of their $21,500 asking price(August 2008).
But, when GM came out with the C6 Z06, they didn't **** on the C5 Z06 owners by having the C6 Z06 priced lower then the old C5 Z06, so my 1998 C5 held it's value extremely well.
I think my C5 had very little deprecation over my 10.5 year ownership. My C6 Z06 had a great resale value until GM **** on the C6 ZR1 owners driving the value of their cars down, which in turn drove the value of my Z06 down, which in turn drove the value of the base C6 down.
But, when GM came out with the C6 Z06, they didn't **** on the C5 Z06 owners by having the C6 Z06 priced lower then the old C5 Z06, so my 1998 C5 held it's value extremely well.
I think my C5 had very little deprecation over my 10.5 year ownership. My C6 Z06 had a great resale value until GM **** on the C6 ZR1 owners driving the value of their cars down, which in turn drove the value of my Z06 down, which in turn drove the value of the base C6 down.
Team Owner
Joined: Sep 1999
Posts: 41,732
Likes: 1,718
From: Springfield MO
The C7 Z06 was nor just a N/A 7L Z06 with 12 more horsepower and one more gear vs the old C6 Z06.
If anything, the C7 Z06 should have been called a C7 ZR1 as that is really the model it replaced(the C6 ZR1).
The C7 Z06 should have been called a ZR1(as it really replaced the C6 ZR1 and not the C6 Z06) and the existing C7 ZR1 should have been called a ZR1 stage II(or whatever) to be more accurate.
Drifting
Joined: Nov 2012
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It depends on how good the C8 looks and how the C7 ages. I personally never warmed up to the back end of the C7 despite finding the rest of it very sexy. I have a C6 ZO6 so I'm a bit biased but I love the fact that it's the lightest and all motor comparing it to the C7 lineup as Jose mentioned where the ZR1 is mostly a ZO6 with a bigger blower and more aero.
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Thread Starter
Burning Brakes
Joined: May 2018
Posts: 984
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From: Fort Worth, TX
I personally like N/A cars over forced induction, part of the reason I went with a GS over a Z06. The C6 Z06 on the other hand in my opinion is the best balanced car GM has ever made. The LS7 is high revving (for an American car) and the car is quite light with great weight distribution. I think they should have stayed this course for the C7 Z06 and only upping the power to 525-575. The fact they went for C6 ZR1 power is where they went wrong. They didn’t need to make these leaps. All they’re doing is making it harder on future models that will have more stringent fuel consumption regulations and probably be heavier.
Safety Car
Joined: Nov 2004
Posts: 4,487
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From: So Cal
GM will make as much as they can sell and more, I waited about 8 month to find my C6-ZO6 at MSRP (most Cali dealers were at $10k over at the time), after few months of ownership, C6-ZO6s flooded the market and dealers were selling at $5K-$10K under MSRP.
Safety Car
Joined: Oct 2008
Posts: 4,912
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From: Charleston SC
if we follow GM's pricing history, no one should be surprised to see a 767hp C8 for 79,999, which will be the most best track car ready yet street car build ever my god le gasp wtf wth even awesome car ever...it'll over heat in 2 laps but GM will just say to do the math....
too soon? :P
too soon? :P
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St. Jude Donor '11-'17, '21
One simply does not buy a ZR for resale value. 
Last edited by DebRedZR1; Jun 10, 2018 at 07:53 AM.
Race Director
Joined: Oct 2008
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From: NJ
But Deb...it's always in the backs of our minds as we KNOW the next latest and greatest is right around the corner lol..
As for not leaving the C7 Z06 NA? GM said over and over it was emissions related..
history will repeat itself with the C8.. the base will be a notch below the C7 Z06 and the C8 "Z06" or whatever will be equal to or higher performing than the C7 ZR1.. the real question is what will the C8 ZR1 be???
Just like in 2014, those who bought the new at the time C7 Z06 overpaid at msrp and many feelings were hurt 1.5 2yrs later when you could get them at 20% off.. it happens...
More to the point of what Deb said - anyone buying now doesn't "really" care about the resale as most of these buyers have plenty of disposable income (god bless them!).
The new performance bargain of the century, replacing the C7 Z06's at 20% off will be the C7 ZR1 once the C8's hit the road!!
As for not leaving the C7 Z06 NA? GM said over and over it was emissions related..
history will repeat itself with the C8.. the base will be a notch below the C7 Z06 and the C8 "Z06" or whatever will be equal to or higher performing than the C7 ZR1.. the real question is what will the C8 ZR1 be???
Just like in 2014, those who bought the new at the time C7 Z06 overpaid at msrp and many feelings were hurt 1.5 2yrs later when you could get them at 20% off.. it happens...
More to the point of what Deb said - anyone buying now doesn't "really" care about the resale as most of these buyers have plenty of disposable income (god bless them!).
The new performance bargain of the century, replacing the C7 Z06's at 20% off will be the C7 ZR1 once the C8's hit the road!!
Last edited by 24/Eray; Jun 10, 2018 at 08:57 AM. Reason: spelling/grammar
Melting Slicks
Joined: Apr 2016
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From: Naples FL
It's been very apparent that buying a Corvette with the goal of having minimal depreciation during ownership is a fool's errand. These cars depreciate regardless of your options, transmission choice, paint color, paint protection, whatever. If you want to own items that won't depreciate, buy art. If you want a car with minimal depreciation, buy a GT3.
Moderator
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From: West MI
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West MI & JAX/NE Florida
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But Deb...it's always in the backs of our minds as we KNOW the next latest and greatest is right around the corner lol..
As for not leaving the C7 Z06 NA? GM said over and over it was emissions related..
history will repeat itself with the C8.. the base will be a notch below the C7 Z06 and the C8 "Z06" or whatever will be equal to or higher performing than the C7 ZR1.. the real question is what will the C8 ZR1 be???
Just like in 2014, those who bought the new at the time C7 Z06 overpaid at msrp and many feelings were hurt 1.5 2yrs later when you could get them at 20% off.. it happens...
More to the point of what Deb said - anyone buying now doesn't "really" care about the resale as most of these buyers have plenty of disposable income (god bless them!).
The new performance bargain of the century, replacing the C7 Z06's at 20% off will be the C7 ZR1 once the C8's hit the road!!
As for not leaving the C7 Z06 NA? GM said over and over it was emissions related..
history will repeat itself with the C8.. the base will be a notch below the C7 Z06 and the C8 "Z06" or whatever will be equal to or higher performing than the C7 ZR1.. the real question is what will the C8 ZR1 be???
Just like in 2014, those who bought the new at the time C7 Z06 overpaid at msrp and many feelings were hurt 1.5 2yrs later when you could get them at 20% off.. it happens...
More to the point of what Deb said - anyone buying now doesn't "really" care about the resale as most of these buyers have plenty of disposable income (god bless them!).
The new performance bargain of the century, replacing the C7 Z06's at 20% off will be the C7 ZR1 once the C8's hit the road!!
It's been very apparent that buying a Corvette with the goal of having minimal depreciation during ownership is a fool's errand. These cars depreciate regardless of your options, transmission choice, paint color, paint protection, whatever. If you want to own items that won't depreciate, buy art. If you want a car with minimal depreciation, buy a GT3.
You can never win the car pricing game. Just like Tech toys--Once you buy the latest and greatest will be on the horizon.
Race Director
Joined: Oct 2008
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From: NJ
Spearfish - if you sell it before it's 6 or 7yrs old.. at least that's what i've observed being in the market some years back once both my children started driving and i could (without guilt) pick up a 2 seat performance car).
the longer you keep a corvette (like mostly anything) you make out better. saw a stat of 10yr old corvette vs average car somewhere (maybe 2 yrs ago) and the corvette was worth twice the average vehicle at 10yrs old (% of MSRP). that's pretty good imo..
the longer you keep a corvette (like mostly anything) you make out better. saw a stat of 10yr old corvette vs average car somewhere (maybe 2 yrs ago) and the corvette was worth twice the average vehicle at 10yrs old (% of MSRP). that's pretty good imo..
Last edited by 24/Eray; Jun 10, 2018 at 09:10 AM.
Le Mans Master
Joined: Oct 2004
Posts: 9,217
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From: Ft Mill, SC
As others have said, if history is any indication, once the C8 comes out the C7 ( as great as they are) will be yesterday’s newspapers as vette junkies rush to get in line as they unload their has been C7’s ( obviously many of us will drive our awesome C7’s for many years to come, but those wanting to move up will go that direction).
So with that in mind, there should be great deals on new C7 ZR1’s and all the other C7 models as dealers clear out inventory like they always do with a new model introduction. There were guys dumping C6 ZR1’s to buy new Stingrays in 2014 just to experience the probably 30 percent improvements made to the C7, even though the 638 HP of the C6 ZR1 was a lot more than the 460 HP of the Stingray. So it stands to reason the same thing will happen when the C8 hits the street.
My guess is, if one were to wait about 2 to 3 years after the C8 comes out, you could maybe pick up a low mileage loaded mint condition C7 ZR1 in the 80 to 90 thousand dollar range ( maybe even less if the C8 is an out of the park hit like the C7 was, except for the track over heating issues of the Z06 and A8 mind numbing problems with torque converters etc of course).
So with that in mind, there should be great deals on new C7 ZR1’s and all the other C7 models as dealers clear out inventory like they always do with a new model introduction. There were guys dumping C6 ZR1’s to buy new Stingrays in 2014 just to experience the probably 30 percent improvements made to the C7, even though the 638 HP of the C6 ZR1 was a lot more than the 460 HP of the Stingray. So it stands to reason the same thing will happen when the C8 hits the street.
My guess is, if one were to wait about 2 to 3 years after the C8 comes out, you could maybe pick up a low mileage loaded mint condition C7 ZR1 in the 80 to 90 thousand dollar range ( maybe even less if the C8 is an out of the park hit like the C7 was, except for the track over heating issues of the Z06 and A8 mind numbing problems with torque converters etc of course).
Last edited by musclecar6; Jun 10, 2018 at 09:54 AM.
Racer
Joined: Aug 2012
Posts: 251
Likes: 21
From: SW Florida
2018 C6 of Year Finalist
I recently looked at comp sales of similar ZR1s to mine compared with what I paid 2 years ago and they have not dropped off too much at all. I was surprised by that. I was anticipating possibly selling because I'd love a new ZR but I'm not making a move until the C8 appears.
Thread Starter
Burning Brakes
Joined: May 2018
Posts: 984
Likes: 574
From: Fort Worth, TX
But Deb...it's always in the backs of our minds as we KNOW the next latest and greatest is right around the corner lol..
As for not leaving the C7 Z06 NA? GM said over and over it was emissions related..
history will repeat itself with the C8.. the base will be a notch below the C7 Z06 and the C8 "Z06" or whatever will be equal to or higher performing than the C7 ZR1.. the real question is what will the C8 ZR1 be???
Just like in 2014, those who bought the new at the time C7 Z06 overpaid at msrp and many feelings were hurt 1.5 2yrs later when you could get them at 20% off.. it happens...
More to the point of what Deb said - anyone buying now doesn't "really" care about the resale as most of these buyers have plenty of disposable income (god bless them!).
The new performance bargain of the century, replacing the C7 Z06's at 20% off will be the C7 ZR1 once the C8's hit the road!!
As for not leaving the C7 Z06 NA? GM said over and over it was emissions related..
history will repeat itself with the C8.. the base will be a notch below the C7 Z06 and the C8 "Z06" or whatever will be equal to or higher performing than the C7 ZR1.. the real question is what will the C8 ZR1 be???
Just like in 2014, those who bought the new at the time C7 Z06 overpaid at msrp and many feelings were hurt 1.5 2yrs later when you could get them at 20% off.. it happens...
More to the point of what Deb said - anyone buying now doesn't "really" care about the resale as most of these buyers have plenty of disposable income (god bless them!).
The new performance bargain of the century, replacing the C7 Z06's at 20% off will be the C7 ZR1 once the C8's hit the road!!
And I get it, no one should buy a car expecting not to lose unless you’re talking certain super cars. However, that doesn’t mean I don’t want to minimize my hits. If I buy a ZR1 now for 150~ but I’m 3 years I can get one with under 10k miles for 80, I’d rather just wait. And as someone else said, Vettes have a much higher resale value than other cars similarly priced and similarly aged so if you can avoid the initial big hit with dealer incentives or slightly used I feel that’s the way to go, at least for me.