View Poll Results: Should I buy a used c8 now or in the spring? (Can't drive it till spring)
Buy now to secure loaded car at 85k (82k sticker)
11
32.35%
Find a different car in the spring. Loaded 2lts will be under 85 by spring.
23
67.65%
Voters: 34. You may not vote on this poll
Considering purchasing a used c8
Thread Starter
8th Gear
Joined: Dec 2020
Posts: 8
Likes: 1
Considering purchasing a used c8
I'm considering purchasing a used c8 (2000 miles). The car is in the pacific northwest (snow country) so if I purchase it it would sit in a garage for the next 3 months or so. The car is a 2lt loaded with options and is 85k, so it seems like a good deal considering what others are going for. My question is, would it be better to wait to spring because the car is going to depreciate thousands because of 2021 models or could I buy it now to make sure I get the car and not have to worry too much about it losing 10 to 15% value by spring?
Racer
Joined: Jul 2005
Posts: 497
Likes: 204
From: Irvine CA
I'm considering purchasing a used c8 (2000 miles). The car is in the pacific northwest (snow country) so if I purchase it it would sit in a garage for the next 3 months or so. The car is a 2lt loaded with options and is 85k, so it seems like a good deal considering what others are going for. My question is, would it be better to wait to spring because the car is going to depreciate thousands because of 2021 models or could I buy it now to make sure I get the car and not have to worry too much about it losing 10 to 15% value by spring?
Safety Car
Joined: Jun 2008
Posts: 3,806
Likes: 5,869
Betting on any sort of depreciation happening by spring isn’t realistic.
Best bet is to make a deposit for a new car at a dealer with a refundable deposit. Secure your spot in line. You’ll get that car in like a year. If the used cars start hitting the market for less than MSRP then buy one of those and get your deposit back. The one you found for sale doesn’t seem like a bad purchase right now. Don’t wait around or someone else will jump on it.
I don’t see C8’s depreciating much until owners start selling them to move up to a Z06. That’s probably at least a year away.
Best bet is to make a deposit for a new car at a dealer with a refundable deposit. Secure your spot in line. You’ll get that car in like a year. If the used cars start hitting the market for less than MSRP then buy one of those and get your deposit back. The one you found for sale doesn’t seem like a bad purchase right now. Don’t wait around or someone else will jump on it.
I don’t see C8’s depreciating much until owners start selling them to move up to a Z06. That’s probably at least a year away.
Last edited by smithers; Dec 14, 2020 at 11:54 AM.
Burning Brakes
Joined: Oct 2020
Posts: 887
Likes: 550
I'm considering purchasing a used c8 (2000 miles). The car is in the pacific northwest (snow country) so if I purchase it it would sit in a garage for the next 3 months or so. The car is a 2lt loaded with options and is 85k, so it seems like a good deal considering what others are going for. My question is, would it be better to wait to spring because the car is going to depreciate thousands because of 2021 models or could I buy it now to make sure I get the car and not have to worry too much about it losing 10 to 15% value by spring?
Safety Car
Joined: Aug 2018
Posts: 3,977
Likes: 1,822
From: Western WI
Is the used car you found exactly what you want? If not ordering one at MSRP is the better option because you get exactly the car you want you just have to wait a few more months for it. It it was my $85K I would want a car to my spec and it would be worth the wait for brand new and zero miles. Also, as already stated if in the outside chance the used market softens and/or you find the exact used car you are looking for at a better deal than new you can always opt out of the order. Good luck with your search.
Le Mans Master
Joined: Feb 2011
Posts: 9,118
Likes: 1,536
From: Edmond, Oklahoma
I don't think that it will depreciate that much in that short a period of time. That's really hard to tell as there is still a decent backlog on orders and demand is still high and will be for at least the next year. I don't see any dealers offering discounts on C8's for at least another year, so for your time frame, you should be ok.
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Melting Slicks
Joined: Jun 2013
Posts: 2,598
Likes: 1,593
This is a legitimate question regarding the expected price of these cars in the next 6-12 months, and I think the consensus is pretty pretty conclusive that the only place you can get a C8 in 2021 (new or used) under MSRP is COPART.
Team Owner
Joined: Oct 2004
Posts: 25,583
Likes: 16,942
I think there is a good chance that there will be used C8s available for under MSRP by December 2021. I doubt there will be much depreciation, but I think there will be enough on the market to drive them somewhat under MSRP.
The days of $10-20K over MSRP will increasingly subside and be long gone by then.
The days of $10-20K over MSRP will increasingly subside and be long gone by then.
Last edited by Foosh; Dec 14, 2020 at 02:31 PM.
Le Mans Master
Joined: Oct 2005
Posts: 6,652
Likes: 2,106
From: Left Coast, San Diego
I think there is a good chance that there will be used C8s available for under MSRP by December 2021. I doubt there will be much depreciation, but I think there will be enough on the market to drive them somewhat under MSRP.
The days of $10-20K over MSRP will increasingly subside be long gone by then.
The days of $10-20K over MSRP will increasingly subside be long gone by then.
When is irrelevant.
Racer
Joined: Jul 2019
Posts: 401
Likes: 476
From: Florida
Le Mans Master
Joined: Apr 2005
Posts: 7,361
Likes: 4,800
From: West Burbs of Chicago IL
If it’s what you want, buy it. It’ll be going for more come Speing not less. Surprising, the seller isn’t even breaking even after taxes f they are only selling it for $3k over MSRP.
Race Director
Joined: Aug 2019
Posts: 12,351
Likes: 14,183
From: Central Illinois
Your poll is flawed by having a choice that the car will be lower in the spring. THAT'S when people buy sports cars, it's when they are in highest demand. Just not going to happen.
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Betting on any sort of depreciation happening by spring isn’t realistic.
Best bet is to make a deposit for a new car at a dealer with a refundable deposit. Secure your spot in line. You’ll get that car in like a year. If the used cars start hitting the market for less than MSRP then buy one of those and get your deposit back. The one you found for sale doesn’t seem like a bad purchase right now. Don’t wait around or someone else will jump on it.
I don’t see C8’s depreciating much until owners start selling them to move up to a Z06. That’s probably at least a year away.
Best bet is to make a deposit for a new car at a dealer with a refundable deposit. Secure your spot in line. You’ll get that car in like a year. If the used cars start hitting the market for less than MSRP then buy one of those and get your deposit back. The one you found for sale doesn’t seem like a bad purchase right now. Don’t wait around or someone else will jump on it.
I don’t see C8’s depreciating much until owners start selling them to move up to a Z06. That’s probably at least a year away.
With demand staying strong, it will be a while before pices start to drop.
Le Mans Master
Joined: Jan 2017
Posts: 5,363
Likes: 4,108
From: New England
Economics 101. Used car pricing is derived by supply and demand. Fact is between the strike and Covid less than half the anticipated C8's were produced. Demand remains strong for this car and until supply satisfies demand used car pricing will remain high. Based on what we do know, logic dictates that it will likely be another 12-18 months before GM can really catch up with demand. But there are unknows like the economy, or some major mechanical defect with the car that pushes buyers away.
Melting Slicks
Joined: Jun 2013
Posts: 2,598
Likes: 1,593
I think there is a good chance that there will be used C8s available for under MSRP by December 2021. I doubt there will be much depreciation, but I think there will be enough on the market to drive them somewhat under MSRP.
The days of $10-20K over MSRP will increasingly subside and be long gone by then.
The days of $10-20K over MSRP will increasingly subside and be long gone by then.