JerriVette

Traditional depreciation in a 2year lease is 45 percent so from that perspective a 27 grand loss on a hundred grand car isn’t that terrible.

I wouldn’t like it either so I’m with you on that but for those that buy what many of us consider relatively expensive luxury products the 27 grand loss is not out of line.

Rationally corvettes hold residual values better than most sports cars...that are actually driven

Big time discounts on c7 s in 2017 for various inventory has more to do with depreciation we are now seeing.

I believe the iofficial introduction of the c8 we will continue to see larger and larger discounts on left over c7 s And that will have a great effect on those who own c7 s who try to sell them at the sameness time...

When new factory left over c7 s exist as the c8 rolls off the assembly private sale preowned cars will have to be priced even lower to attract buyers...

That’s why so many c7 s are showing up for sale just this past week..

I think there was a thread recently on this question on the forum last week..

Z_Rocks

IF C8 is really nice and affordable, it WILL hurt C7 a lot, because it is a totally new Generation car. That's why the Germans are so careful with yearly changes.

I remember there was a E class for several year with updates and the drop was nominal, then when MB pulled out of Chrysler and came out with a totally new E class from ground up, the previous model dropped like a rocket. You could buy them with low miles less than a Camry.

jimmyb

I agree. For a MASS produced car, Corvettes (in general) hold their value well beyond the average. BUT, they do depreciate, just not as badly. For example because M-B has a good re-sale rep:

2014 M-B SL500: 20,000 miles, standard equipment only. New was $84,000. KBB trade in (excellent condition) high is $49,154

2014 Stingray Convertible: 20,000 miles, standard equipment only. New was $58,000. KBB trade in (excellent condition), high is $43,849

Please, everyone don't jump on me, just the messenger here. These are KBB's numbers, it's apples to apples, whether you agree or not (KBB doesn't have a dog in the fight)

2001 C5's (especially Z06's and convertibles) are being offered in the low $20K's TODAY.

elegant

As to whether the ME will effect C7 re-sale prices, the answer is yes — as it has every generation. A key factor will be whether the C7 is for sale next year. Almost all think it will be, and thus there will not be a C7 manual trans “rarity price bonus factor.”

Like always, those of us who buy a new gen Corvette will not be happy campers with the price we get for selling our C7’s. But I am willing to face that music — just like I faced it when I sold my C5 and got a C6, and when I sold my C6 and got a C7.

Michael A

It could have a bigger than normal impact on C7 resale prices, due the mid-engine layout and completely new look. Now if they have a bunch of high profile problems with the C8, that would be a different matter.

RapidC84B

I bought a 2014 Z51 last year under $40K because I wanted to enjoy the car and not get smashed when the C8 comes out. I plan to buy a C8 in the first or 2nd model year if I can fit in it. I expect my car to be worth $20-25K or so by then. I have put 5K miles on it since November, 49k now, and am going to do my best to get to 100K before the C8!

My plan was to wait and scoop up a C7 cheap when the C8 came out, but I decided to get one now and enjoy it 2-3 years and see what the C8 brings.

elegant

Good plan you are executing.

lt4obsesses

People who buy new Corvettes are going to buy a new Corvette, regardless of form. If they really don't like the new Corvette, they are going to buy a new something else.

People who buy used Corvettes are going to buy the newest, nicest one they can find and afford.

Depreciation is what it is and the used market will not change much if at all.

Paulzy

Greetings, this is my first post here, and I don’t even own a Corvette. Maybe that gives me some perspective to consider? But the above comment seems the most logical. From what I gather, the C7 is going away completely! This also means all the previous year cars too. Meaning, their unique heritage becomes more and more rare as time passes and has its effects on quantity and quality of vehicles.

Even though I am unknowledgeable, in just about everything Corvette, what seems simple for me to understand is that the C8 presents the most radical departure in the Corvette brand history. Innovation is desirable, but it always effects the predecessor in strange ways. A lot has to do with culture, history and economics.

To believe that such a radical innovation will only come with a slight price increase is folly. While good economic times help support such investments. Healthy returns on investments, if properly calculated, will garner greater returns on investment. This all means that the cost of buying a C8 will be much more expensive. What really surprises me is that the Front-Engine and Mid-Engine may not exist side by side. Seems to me to a big risk if the FE Corvette comprise 5-10% of all sales, this could put the Vette out of reach for many. Especially when the Baby Boomer generation and Western populations are shrinking. Maybe the China market will buy the ever more expensive Corvette? Nah, more likely they will copy it to our demise.

Evolving from 60 years of steady improvements, from a front-engine rear wheel drive to a mid-engine, will cause great upheaval. Some good and some bad. This is more monumental than arguing about weather or not the headlights are static or flip-up.

In my view, if cared for, the C7 (especially the manual) will naturally have a percentage drop in value just off the dealer’s lot, but over time it will likely increase slowly and hold value, as will all other models “in relative value terms” (and how to determine this is not my expertise).

But what is unusual here is that it’s a marked end to an era. My current belief is that, with the accelerated growth in electrical and autonomous vehicles, the ever-looming threat of oil shortages, political crises, manual transmissions slowly declining, and the fact that the C7 is the last Great Front Engine Corvette made in history - says a lot. It says - long term value!

Prices are sure to increase “Relative” to the US dollar over a long period time, especially for those who keep the miles low and in pristine condition. Not including the rare and collector versions that the factory produced on a whim. History repeats itself for the collector guy!

Nevertheless, disregard all I said if the Zombie Apocalypse happens, or Jesus Christ returns. Then we will have to make a proper account for all the money we squandered on our selfish egos, and the C7 Corvette will be reduced to a worthless heap of steel and sand! – Pax Christi

The HACK

I am hoping GM and its dealers are going to be handing out C7s for FREE when the C8 comes out.

FREE CORVETTES FOR EVERYONE! You get a Corvette. You get a Corvette. Everyone gets a Corvette!

khoeysr

IMO it's a bit early too make any predictions. Too many variables ( C8 pricing, acceptance of the ME platform, C7 options continuing after ME intro, etc).

In the meantime I will be running around in my 19 Z06 which is the best of the 4 vettes I have owned so far.

Mayor111

Except for those of us who bought used C7s - we didn't take the initial depreciation hit AND we wont feel the drop in value as much since we paid close to half of what the guys paid who bought new...

Black18Z06

This. Exactly. There is no mystery here or crystal ball sorcery required. Its the way it has always been and always will be, i.e., the new gen will be in higher demand and so the older gens will all take a hit except for the very old and now rare gens such as, currently, gen 1 and 2 and early 3s which will continue to appreciate. Some day, gens 4-7 will get there if you have that kind of patience. I don't so I will drive my C7 and enjoy it until I am ready to pull the trigger again. I will try to get the best value for it I can but in the end, the man will kick me in the short and curlys, take my money, laugh at me, and I will drive away happy in my new Corvette. Such is life and I don't really mind it.

SPSandman

I sure hope so as I was looking to get a C6 around March time frame to replace my 2015 Camaro 2SS.

Was going to try to get a 2012-2013 Grand Sport; however, I start looking at the 14/15 C7 as it falls into the same price range. Be nice to have the C7 Tech.

pdiddy972

Mayor111

True - I did buy a 2014. I dont disagree with you...there is always the trade off between owning now (paying more) vs owning later (paying less)...all depends how you spend and/or save your money. Also, I wouldn't say I was on the sidelines, I was enjoying the hell out of my C5 Vert for the past few years, waiting for the right time to jump into a C7...

tcinla

Suns_PSD

Corvettes depreciate quite slowly compared to any other mass produced car. I bought a Saturn well below the MSRP and still lost 60% in 18 months. My Dad bought a barely used BMW 6 series that had lost 75% of it's value in 3 years, and was never driven.

Any other 2014 car for instance should be sitting at around 30% original value at 5 model years old, Yet a plain jane $56K (at MSRP) '14 C7 still goes for what, $38K-40K, or about 70% of it's purchase value.

These cars are incredible values.

RapidC84B

Agree with Suns... as someone who shopped 2014-2015 C7 Z51s last year it was a bitch to find a nice one under $40K.

cv67

Dont buy over your pocketbook and then you have no worry about depreciation, its going to anyways, wether a C8 was made or not.
They arent bank accounts.

A decent sub 100k mi C5 can be had for 10k or less these days, asking over 20k...well hope they can sit on it for a long time.
They are approaching C4 prices quick. These are and will never be collector cars.