HELP! Thinking of selling your current car so you can finance your new ME Corvette?
05-23-2018, 05:15 PM
#21
Race Director
Member Since: Oct 2011
Location: Holly Springs NC
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St. Jude Donor '16-'17,'22,'24
Hi Corvette Enthusiasts,
I am high on a c8 dealer waiting list with a deposit down but I will need to sell my current sports car soon since I will need the proceeds to finance the new C8. I advertised my sports car and right now I have a offer in hand for it. This means I will lose a good chunk from the original purchase price of my car even though it still looks and runs like new, ouch!
I know some of you are in a similar situation as me. If so, what have you decided to do and why? Sell current sports car for the unseen c8? Or keep the current sports car and try to be happy with it because of all the c8 unknowns and the huge hit that we all take when we sell our current cars? Wait until the c8 reveal but in the meantime the value of your trade-in goes down with each passing month? Other options?
Your thoughts appreciated!
Luc
I am high on a c8 dealer waiting list with a deposit down but I will need to sell my current sports car soon since I will need the proceeds to finance the new C8. I advertised my sports car and right now I have a offer in hand for it. This means I will lose a good chunk from the original purchase price of my car even though it still looks and runs like new, ouch!
I know some of you are in a similar situation as me. If so, what have you decided to do and why? Sell current sports car for the unseen c8? Or keep the current sports car and try to be happy with it because of all the c8 unknowns and the huge hit that we all take when we sell our current cars? Wait until the c8 reveal but in the meantime the value of your trade-in goes down with each passing month? Other options?
Your thoughts appreciated!
Luc
05-23-2018, 05:21 PM
#22
Burning Brakes
I'm on Mike Furman's list too. I do not plan on selling anything until the 'reveal' and more likely not until the ordering information is available from GM, which is usually 60 to 90 days before production starts.
The depreciation that I will suffer in the interim will be negligible....
PS: These guys waiting until the 3rd or 4th year will get 10 to 15% off the sticker price which most likely is 10 to 15% higher than it was at introduction. I don't get it???
The depreciation that I will suffer in the interim will be negligible....
PS: These guys waiting until the 3rd or 4th year will get 10 to 15% off the sticker price which most likely is 10 to 15% higher than it was at introduction. I don't get it???
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JerriVette (09-16-2018)
05-23-2018, 10:18 PM
#23
16 Vettes and counting…..
I'm on Mike Furman's list too. I do not plan on selling anything until the 'reveal' and more likely not until the ordering information is available from GM, which is usually 60 to 90 days before production starts.
The depreciation that I will suffer in the interim will be negligible....
PS: These guys waiting until the 3rd or 4th year will get 10 to 15% off the sticker price which most likely is 10 to 15% higher than it was at introduction. I don't get it???
The depreciation that I will suffer in the interim will be negligible....
PS: These guys waiting until the 3rd or 4th year will get 10 to 15% off the sticker price which most likely is 10 to 15% higher than it was at introduction. I don't get it???
05-24-2018, 05:34 PM
#24
Instructor
Thread Starter
I'm the OP, wanted to thank you for your replies !
Hi Corvette Enthusiasts,
I read all of your replies. Thank you for taking the time to do so. Most of them are well-thought out and valid. There are a couple of replies that I don't agree with and after reading your comments about the replies, I see that the majority of you would tend to agree with me. I won't debate anything here though.
In any case, I am keeping my current sports car until I see the reveal. At that time, if my heart aches for the new C8, I will move heaven and earth to be one of the first around here to wear one. I have a wonderful feeling and a good suspicion that the new C8 will look and perform every bit as good as I am imagining. Hopefully, I don't jinx anything by saying this and all of our C8 dreams come true. Hahahahaahaha.
Can't wait for the reveal
PS: I think our colleague who apparently got a sneak peak at some actual C8 pictures got scared off. I don't blame him but I hope he comes back to validate the latest C8 best guess renditions by FVS. If you have real solid info on the C8, feel free to pm me
.
All the Best to You All,
Luc
I read all of your replies. Thank you for taking the time to do so. Most of them are well-thought out and valid. There are a couple of replies that I don't agree with and after reading your comments about the replies, I see that the majority of you would tend to agree with me. I won't debate anything here though.
In any case, I am keeping my current sports car until I see the reveal. At that time, if my heart aches for the new C8, I will move heaven and earth to be one of the first around here to wear one. I have a wonderful feeling and a good suspicion that the new C8 will look and perform every bit as good as I am imagining. Hopefully, I don't jinx anything by saying this and all of our C8 dreams come true. Hahahahaahaha.
Can't wait for the reveal
PS: I think our colleague who apparently got a sneak peak at some actual C8 pictures got scared off. I don't blame him but I hope he comes back to validate the latest C8 best guess renditions by FVS. If you have real solid info on the C8, feel free to pm me
. All the Best to You All,
Luc
Last edited by lucative; 05-24-2018 at 05:38 PM.
05-25-2018, 01:23 PM
#25
Keeping my C7 regardless of the C8.
I'm buying a new house as soon as I find one to my liking so I don't want another bill until I get a handle on that. I think I'll sit it out until we see the top dog next gen model. (C8 ZR1?)
I'm buying a new house as soon as I find one to my liking so I don't want another bill until I get a handle on that. I think I'll sit it out until we see the top dog next gen model. (C8 ZR1?)
09-14-2018, 09:26 PM
#26
Instructor
Thread Starter
I am the OP, I sold my previous sports car to finance the upcoming C8!
Hi Corvette Enthusiasts,
I am the OP. FYI - I sold my sports car to finance my upcoming C8. It was just the right time to sell because I received the maximum asking price for my sports car and now I can also avoid the car registration and insurance fees coming next month.
I have a feeling that the C8 will be awesome. Personally, I much prefer the short snouts of the mid-engined lambos, 4REs (some of them) and McClarens over the longer snouts of the front-engined C7s, MB GTRs and Vipers for instance. I like the latest C8 renditions by FVS et al and I am in. I believe the price and performance will be there too. I am ok with 60-80 K price range with around 550 hp.
I am very high on a local dealers waiting list and medium high on a high volume dealers list. I hope I can get an early allocation.
I know there are some mixed reviews about the upcoming C8, but I say keep the faith. I have a funny feeling that the C8 will be very, very good.
If you are with me, give me a thumbs up !
Thank you for all of your invaluable feedback,
Luc
I am the OP. FYI - I sold my sports car to finance my upcoming C8. It was just the right time to sell because I received the maximum asking price for my sports car and now I can also avoid the car registration and insurance fees coming next month.
I have a feeling that the C8 will be awesome. Personally, I much prefer the short snouts of the mid-engined lambos, 4REs (some of them) and McClarens over the longer snouts of the front-engined C7s, MB GTRs and Vipers for instance. I like the latest C8 renditions by FVS et al and I am in. I believe the price and performance will be there too. I am ok with 60-80 K price range with around 550 hp.
I am very high on a local dealers waiting list and medium high on a high volume dealers list. I hope I can get an early allocation.
I know there are some mixed reviews about the upcoming C8, but I say keep the faith. I have a funny feeling that the C8 will be very, very good.
If you are with me, give me a thumbs up !
Thank you for all of your invaluable feedback,
Luc
Last edited by lucative; 09-15-2018 at 04:05 PM.
09-16-2018, 12:25 AM
#28
Race Director
Sounds like the original poster jad concerns about registration fees etc that were coming up?
the c8 wont be that exoensive but as long as your happy thats all that matters..
personally i wouldnt sell my current corvette until after my new one arrives. I use my corvettes as my daily drivers..maybe ill do an in and out to save in taxes etc on my existing corvette but trade in is usually a loser deal,
its going to be a long wait even if your early on the list for a c8...
they havent even shown it yet without camouflage...we are hoping for a january 14 th show date to see the car and then another 8 or 9 months to hopefully get delivery...
thats a year from now...thats a long time without a corvette to save a few bucks...but thats just my opinion...
sounds like you have a great daily driver that you enjoy driving as well.
i ran the numbers and for years i had daily drivers as well. I ran the numbers and it didnt make sense so i stopped doing that..
i just use my corvette as a daily...and that includes manhattan driving..
the cars fine and still looks mint.
just saying if your a numbers guy...using the corvette as a daily saves a ton Of cash and the cars are built for it.
i even put snows on from december to april...
the car drvies just fine with snows...
i plan on doing the same with the rear mid engine corvette...snow tires for winter and rear mid engine cars are good in the snow.
i remember seeing a local guy with his ferrari 512 out in the snow and that had me thinking wtf...
just drive the corvette everyday...
its been great...and I smile everyday...
the c8 wont be that exoensive but as long as your happy thats all that matters..
personally i wouldnt sell my current corvette until after my new one arrives. I use my corvettes as my daily drivers..maybe ill do an in and out to save in taxes etc on my existing corvette but trade in is usually a loser deal,
its going to be a long wait even if your early on the list for a c8...
they havent even shown it yet without camouflage...we are hoping for a january 14 th show date to see the car and then another 8 or 9 months to hopefully get delivery...
thats a year from now...thats a long time without a corvette to save a few bucks...but thats just my opinion...
sounds like you have a great daily driver that you enjoy driving as well.
i ran the numbers and for years i had daily drivers as well. I ran the numbers and it didnt make sense so i stopped doing that..
i just use my corvette as a daily...and that includes manhattan driving..
the cars fine and still looks mint.
just saying if your a numbers guy...using the corvette as a daily saves a ton Of cash and the cars are built for it.
i even put snows on from december to april...
the car drvies just fine with snows...
i plan on doing the same with the rear mid engine corvette...snow tires for winter and rear mid engine cars are good in the snow.
i remember seeing a local guy with his ferrari 512 out in the snow and that had me thinking wtf...
just drive the corvette everyday...
its been great...and I smile everyday...
Last edited by JerriVette; 09-16-2018 at 12:31 AM.
09-16-2018, 03:18 AM
#29
Burning Brakes
09-16-2018, 09:43 AM
#31
Race Director
depending on what the corvette engineers and marketing departments took from the c7 option list and made standard we dont know the starting price....but a best guess is five grand more than todays c7 ..add in the previously optional items that are becoming standard for the c8 and that should be the price.
hopefully the standard feature list of the c8 dont grow to far beyond the c7 model and all of us can laugh at how great the starting msrp is...
porsche rapes its customers on option pricing..,its where most of its profits come from. Gm would do well to follow suit...
decent msrp to start...then bury cosnumers with choices of unlimited options....and watch the profits roll in for those who are willing to pay to have a specific colors, interiors, stereos , infotainment systems, seats etc...
thats where the real profits lie...
in the option pricing list...
09-16-2018, 12:32 PM
#32
Le Mans Master
I am not so worried about the performance as anywhere near 500 hp is good by me but I am concerned about what it may look like. If it looks anywhere as good as a 458/488 Ferrari or Huracan, I will know I will want it.
I am high on a c8 dealer waiting list with a deposit down but I will need to sell my current sports car soon since I will need the proceeds to finance the new C8. I advertised my sports car and right now I have a offer in hand for it. This means I will lose a good chunk from the original purchase price of my car even though it still looks and runs like new, ouch!
I know some of you are in a similar situation as me. If so, what have you decided to do and why? Sell current sports car for the unseen c8? Or keep the current sports car and try to be happy with it because of all the c8 unknowns and the huge hit that we all take when we sell our current cars? Wait until the c8 reveal but in the meantime the value of your trade-in goes down with each passing month? Other options?
I know some of you are in a similar situation as me. If so, what have you decided to do and why? Sell current sports car for the unseen c8? Or keep the current sports car and try to be happy with it because of all the c8 unknowns and the huge hit that we all take when we sell our current cars? Wait until the c8 reveal but in the meantime the value of your trade-in goes down with each passing month? Other options?
09-17-2018, 01:19 AM
#35
Pro
Hi Corvette Enthusiasts,
I have a 2016 front-engine sports car. Before this car, I had an Acura NSX which I also bought used. My taste is that I prefer the handling and especially the look of a mid-engine car. I am willing to spend up to $100,000 for a nice mid-engined sports car.
The problem is that none of us really know how the new Corvette will look or perform yet. I am not so worried about the performance as anywhere near 500 hp is good by me but I am concerned about what it may look like. If it looks anywhere as good as a 458/488 Ferrari or Huracan, I will know I will want it.
I am high on a c8 dealer waiting list with a deposit down but I will need to sell my current sports car soon since I will need the proceeds to finance the new C8. I advertised my sports car and right now I have a offer in hand for it. This means I will lose a good chunk from the original purchase price of my car even though it still looks and runs like new, ouch!
I know some of you are in a similar situation as me. If so, what have you decided to do and why? Sell current sports car for the unseen c8? Or keep the current sports car and try to be happy with it because of all the c8 unknowns and the huge hit that we all take when we sell our current cars? Wait until the c8 reveal but in the meantime the value of your trade-in goes down with each passing month? Other options?
Your thoughts appreciated!
Luc
I have a 2016 front-engine sports car. Before this car, I had an Acura NSX which I also bought used. My taste is that I prefer the handling and especially the look of a mid-engine car. I am willing to spend up to $100,000 for a nice mid-engined sports car.
The problem is that none of us really know how the new Corvette will look or perform yet. I am not so worried about the performance as anywhere near 500 hp is good by me but I am concerned about what it may look like. If it looks anywhere as good as a 458/488 Ferrari or Huracan, I will know I will want it.
I am high on a c8 dealer waiting list with a deposit down but I will need to sell my current sports car soon since I will need the proceeds to finance the new C8. I advertised my sports car and right now I have a offer in hand for it. This means I will lose a good chunk from the original purchase price of my car even though it still looks and runs like new, ouch!
I know some of you are in a similar situation as me. If so, what have you decided to do and why? Sell current sports car for the unseen c8? Or keep the current sports car and try to be happy with it because of all the c8 unknowns and the huge hit that we all take when we sell our current cars? Wait until the c8 reveal but in the meantime the value of your trade-in goes down with each passing month? Other options?
Your thoughts appreciated!
Luc
Example: I am in the same boat, I have a 3LT Stingray that I am considering trading right now for a new GS until I see the ME. Make sense?
09-17-2018, 01:21 AM
#36
Pro
Why wait a year or two and be without a cool car now Just to save a few bucks? Not worth parting with your current car esp since you may hate the new ME. Wait until you can see and drive one, then make your mind up. There are so many unknowns at this point that I am going to wait. Heck I am still holding on to my SC stingray trying to decide if I want to upgrade to a Z06 or just wait it out to see what the ME looks like. Decisions... What is your current car you are thinking of selling?
09-17-2018, 09:24 AM
#37
Race Director
09-17-2018, 10:33 AM
#38
I totally agree with you Bill that the ME will not be much more than say an entry GS.
As for paying over MSRP, top forum dealers never did that (even day one), on the C7, nor on the Z06, nor the GS, nor on the ZR1. They will charge sticker on day 1 for the ME.
As to those who come late to the party and have to have one, or those who go to small dealers who only get a few annually, they will face the “market adjustment” crap.
It is up to us buyers to plan ahead, choose a dealer that has zero history of charging over MSRP, and get onto their lists asap if one has not done so already.
Conseqeuntly, been on Mike Furman’s ME list since Feb., 1, 2015.
As for paying over MSRP, top forum dealers never did that (even day one), on the C7, nor on the Z06, nor the GS, nor on the ZR1. They will charge sticker on day 1 for the ME.
As to those who come late to the party and have to have one, or those who go to small dealers who only get a few annually, they will face the “market adjustment” crap.
It is up to us buyers to plan ahead, choose a dealer that has zero history of charging over MSRP, and get onto their lists asap if one has not done so already.
Conseqeuntly, been on Mike Furman’s ME list since Feb., 1, 2015.