ext

I've never understood why this city (Gainesville FL) is like this, but for decades (since mid 80s) all of the various manufacturers' local dealers tend to be the highest anywhere around. I've always checked here first then go out of town when buying new cars, trucks, motorcycles and even my boat. I don't want to, but the price savings is so much you'd be crazy not to buy out of town.

2021 Stingray 3LT sticker $84,205, price $114,205 ... $30K markup! ... and "Lowest Price Anywhere". Uh huh.

https://www.gainesvillechevy.com/inv...c2d40m5103892/

RobertWR

Been watching this one for a couple weeks.

1 word........greed.

Endeavor1

I understand a markup due to availability, however as mentioned above the only way to describe it correctly is greed.

Edmond

Sad thing is they might find someone desperate enough to actually pay that.

Also, I have never seen dealers charge ridiculous fees that Florida car dealers do with their "dealer fee" for no particular reason.

LIE2ME

Don't feel bad. The small Chevy dealer near me in rural South Carolina recently sold a 2020 3LT coupe for $27,000.00 over sticker..

EmeryZ28

down in Clearwater, Dimmitt Chevy has 4 C8's all at 30k markup. My father was in there getting his oil changed on his C7 and offered to pay MSRP on on the spot and trade in his 2016 and they said no they were holding form at 30k increase

Corvette03051

Trouble is there are 3 around here for between 15-25K above MSRP all less than 30K. Is 30K less than 15-25K?

lt4obsesses

Well, at least you would be the "Original Owner". Go check out the C8 for sale section, pay the mark up and be the "second owner" talk about greed.

Bajaholic

Who cares why or if someone marks up the cars. Those that are purchasing them don't. Obviously they have made the choice that cost is relative to getting what you want.

If you can't play with those that can sorry... If you can but just want to whine, suck it up or come up to their level. Otherwise, just wait it out, hopefully tomorrow will come for you...

Sorry, I'm just tired of hearing everyone bitch about the prices people are getting... Before the car came out, there was crazy prices being suggested, when it was released GM still priced it reasonably, but the fair market is dictating where it is selling. (Still less than the originally quoted prices. MAYBE, It is a good thing, holding the other models at a higher level and bringing attention to the Corvette market?

JMHO...

lt4obsesses

Exactly. MSRP and market prices have nothing to do with each other.

ext

Yeah, I suppose I've been a hypocrite: I post this situation which as a shopper annoys me ... but in other threads and everyday life I feel like the owner of something should be able to charge whatever the market will bear for all non-essential items.

OK, yeah, now that I think more about it, I'm sorry I started this thread I should've looked at that $30K ADM and thought, "Well good for them!"

Corvette03051

It is absolutely wrong for a dealer to overcharge for a car. IMO nobody should buy a car over MSRP and that would readjust the market. Don’t buy at inflated pricing no matter how much money you have or how badly you want the car because in the end it turns dealers into legalised thieves.

lt4obsesses

I'm not sure what "overharge" means. Automobiles have always been more a or less a "fair market value" item. Like real estate and the stock market. You wouldn't buy stocks if you knew that the most you could get back was what you paid for it. You certainly would like to think your property value increases so you can sell your property for more than you paid for it.

I'm quite certain that the owner of '63 split window coupe would like to get a little more than the $4,000 or so the car stickered for when new.

It's free market economy and a retailer has every right to charge according to current fair market prices. There only a handful of these things available to purchase right now, and low supply vs high demand means higher price.
The car is available at MSRP by simply placing your order and waiting for it to be built and shipped. So no one is saying you must pay over sticker, you just have to wait for your ordered car or wait for supply to catch up to demand. It's the buyer's choice, if having it now is worth the premium and they have the means, good for them.

EmeryZ28

I don't think a 63 split window is a fair comparison.

I can tell you this, GM is putting a stop to this with the new Hummer EV. In order to be a qualified Hummer Dealer, GMC Dealers will need to apply for the right to sell them which includes certifying special techs and salesmen and also signing a contract that says they will not sell over MSRP!

The good Chevy dealers aren't marking up Corvettes. MacMulkin isn't, Bomnin in Miami is selling them like hotcakes at MSRP. It's these crappy dealers who only get a few Vettes who are ripping people off. I can tell you this, I have 4 chevys in my garage(2 vettes). My father has 2 (1 vette). Neither of us will ever buy a Chevy from our local Dimmitt Chevrolet after watching them stick 30k on their C8's.

lt4obsesses

The split window coupe is exactly a fair comparison. A pristine all original split window can fetch over six figures today. Now, is a '63 Corvette, by today's standards going by performance, technology, durability and reliability a six figure car, Like a C7 ZR1, a Porsche? Of course it isn't. But people are willing to pay that for one because that is the fair market value. The high volume dealers you mention, choose not to put an ADM on the car, not because of some altruistic sense of 'Corvette community' or out of some since 'noble integrity'. They choose to sell at MSRP simply because they want to remain 'high volume' Corvette dealers. It fits their business plan. However, many dealers would rather stick to their own bread and butter, mostly trucks, suv's and sedans. Why on earth would those dealers want to give up valuable inventory capital for a car that they may sell 50 of in a year, when they're selling 200-300 or more of the other vehicles a month? So, when the car is in this much demand, the market is driving the price. The dealers you speak of, selling stock, not ordered vehicles, at msrp are very small group. A relative handful.

As far as ripping people off, they aren't ripping anyone off. The people paying that ADM know full well what they are doing. It's not like buying a Corvette is a necessity of life, it's a conscious choice. These folks know what the MSRP is, and they know what the mark up is, and they choose to pay it because it's worth it to them. It's not worth it to you, and many others, and that's fine. It isn't any less okay for someone to make a choice to pay more to have it right now. Manufacturers 'suggested' retail price and current fair market value have nothing to do with each other.

*Now you want to see a rip off, go to your favorite bar and order a craft beer on tap. They charge, what, $7-$8 for a pint. All in the pint costs the bar about $1.45. Talk about mark-up. (and don't forget you have to tip the bartender. You pay their commission, not the bar, how's that for being ripped off?)

And if you think that GM is 'banning' ADM's on the EV Hummer out of some sudden feeling of community, or integrity, or righteousness, you are most certainly kidding yourself. The only reason GM would ban ADM's on them is the politics of green vehicles. It's very simple, the more EV's they put on the road, the more pressure it takes off to meet CAFE standards. It improves their publicity with the folks who care about that stuff. If I'm wrong about that, they surely would've done the same to this Corvette, especially, in seeing that a mid engine Corvette was decades in the dreaming and they've finally done it. No, quite the opposite in the world of sports cars. The folks at GM are absolutely giddy that people are willing to 30% over MSRP for these things. The higher the market value, the more attention it draws, the more people love it and want it. Add that at the end of the day, even at $30K over sticker, you're paying less than you would for a Porsche that doesn't perform as well. It's still a bargain for the sports car driver.

EmeryZ28

wrong.

a 63 split window is a 100k collector item. It is today and it will be next year, if anything value will go up.

Marking up a new 21 C8 is not the same because in a year form now it will have lost value off of MSRP, not to mention the 30k over MSRP which will vanish into thin air. The 63 corvette will still hold the same value. One is a true value, the other is temporary and fake

lt4obsesses

See now, you're getting all wrapped around the axle about the '63 coupe. The '63 Coupe is just an example of the topic, which is fair market value. Fair market value = what people are willing to pay for something. If a manufacturer put out a car with the same tech, same performance, same parts as '63 Coupe today, as a new car, would you pay $100K for it? I certainly think not.

What the future value of the mid engine Corvette becomes is irrelevant. Like I said, the mid engine Corvette was decades in the dreaming. Here it is and more people want than there are units available. In this case, it's not about being collectable, it's about supply and demand. And yes, you absolutely correct that the ADM is going vanish on resale or trade in, or whatever. However, that only weighs in for the potential buyer that cares about that. The buyer that pays the ADM knows this full well, and they have decided that having the car now means more to them than the money. No, it makes absolutely no financial sense, but that's their business and not ours.

The real point is that the dealer can charge whatever they want for the car, and that no one is getting ripped off because the person that buys it knows full well what they're doing and why.

Bajaholic

Here is a thought on the markup of the Hummer EV.... I don't see that being an issue, so far I have not talked to a single person who would want them. Seriously, a number of people I know have had Hummers (including me) and ALL wish they would come back. BUT NOT ONE wants it in what they are advertising, Electric???? No thanks.

Bottom line, I think it will be short lived, the only increase they have in price will be years down the road due to it's collectability. I have been wrong before.....

EmeryZ28

1000HP Electric...... and the fall 2021 allotment is already all sold out


as far as our local dealer and their marked up corvettes, all 4 are still sitting there

Fast Dawg

I agree that it's pure greed. @Bajaholic posted "If you can't play with those that can sorry... If you can but just want to whine, suck it up or come up to their level. Otherwise, just wait it out, hopefully tomorrow will come for you..." Those who can play didn't get there by being stupid with their money. They are smart enough to find a dealer who will guarantee them MSRP and they will wait.

There is a Chevy dealer in Jacksonville that has two on their lot marked up $19k over MSRP. A salesman there posted one of them on a Corvettes for Sale page on FB and is getting roasted for doing it.

There is a Chevy dealer ten minutes from me that had a 2021 Torch Red Z51 Coupe on his showroom floor a month ago. The deal with the person who ordered it fell through and a guy from Kansas saw it on Chevrolet.com, called them, and purchased it at MSRP. I went to see it while it waited for it's new owner and talked to the Sales Manager. He told me the dealership owner was not going to hurt their reputation by selling these cars over MSRP.