Crazy markups?
Instructor
Joined: Jun 2009
Posts: 246
Likes: 26
From: Statesville NC
It isn't unusual for the new generation Corvettes to be over MSRP initially. The C8 being a hit and lower production numbers is going to keep the markups higher than normal for longer than normal.
E-Ray, 3LZ, ZER, LIFT
Joined: Sep 2007
Posts: 34,932
Likes: 12,344
From: NE South Carolina
Guess they could do a Walmart on "Black Friday" and let everyone know they have an allocation of 4 cars and are opening the doors tomorrow morning and will sell to the first folks who come through the door.
Probably be "flippers" who will make the $10,000+ extra profit and create a dangerous situation! Around here you'd best bring your gun and a tent at midnight the day before if you plan to stand in line and fight for a car! Foolish.
The issue is created by the consumer who is demanding far more than GM can produce. Yep, a more logical and fair market to let he who wants one that bad pay the premium!
Last edited by JerryU; Apr 21, 2021 at 12:02 PM.
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Pro
Joined: Feb 2020
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Melting Slicks
Joined: May 2010
Posts: 2,674
Likes: 142
From: Aubrey Texas
They are asking but in Dallas Texas area. I have noticed that some dealers have had cars more than 6 months. Still wont go down in price. some delaers are doing about $10k over sticker and they are having cars longer than 2 weeks. So it doesn't look to good for these $20, $30 and $40k over sticker guys. Just check Ebay, same cars every week.
Team Owner
Joined: Apr 2008
Posts: 22,305
Likes: 1,682
From: South Carolina
Price is all relative. I know some members think it's terrible practice for a dealer to charge over MSRP. But what is a dealer supposed to do?
Guess they could do a Walmart on "Black Friday" and let everyone know they have an allocation of 4 cars and are opening the doors tomorrow morning and will sell to the first folks who come through the door.
Probably be "flippers" who will make the $10,000+ extra profit and create a dangerous situation! Around here you'd best bring your gun and a tent at midnight the day before if you plan to stand in line and fight for a car! Foolish.
The issue is created by the consumer who is demanding far more than GM can produce. Yep, a more logical and fair market to let he who wants one that bad pay the premium!
Guess they could do a Walmart on "Black Friday" and let everyone know they have an allocation of 4 cars and are opening the doors tomorrow morning and will sell to the first folks who come through the door.
Probably be "flippers" who will make the $10,000+ extra profit and create a dangerous situation! Around here you'd best bring your gun and a tent at midnight the day before if you plan to stand in line and fight for a car! Foolish.
The issue is created by the consumer who is demanding far more than GM can produce. Yep, a more logical and fair market to let he who wants one that bad pay the premium!
Drug dealers use the same logic....
Le Mans Master
Joined: Apr 2005
Posts: 7,361
Likes: 4,800
From: West Burbs of Chicago IL
Pro
Joined: Mar 2021
Posts: 657
Likes: 497
I subscribe to a very laissez-faire mentality personally but what many MANY people forget to take into account is that when you pay 15 to 30k over asking you are not just getting a C8. You are getting a car that for the time being commands and draws a lot of attention. They are paying for that premium because the reality is 6 months or 9 months from now that notoriety will fade as more C8's are on the road..
Me personally, I do not give a damn about that but some people do.
Me personally, I do not give a damn about that but some people do.
Melting Slicks
Joined: Jun 2013
Posts: 2,598
Likes: 1,593
Paying over MSRP for a C8 will cost you big in the long run.... once the market adjusts, you'll be on the same depreciation curve as anybody else, except you'll already be $10K+ in the hole....
That said, buying a new Corvette is stupid.... you'll get killed on depreciation... it's just a matter of how much money you can afford to **** away.... some people can **** $25K away, and not blink an eye, some can **** $45K away and not blink an eye.
That said, buying a new Corvette is stupid.... you'll get killed on depreciation... it's just a matter of how much money you can afford to **** away.... some people can **** $25K away, and not blink an eye, some can **** $45K away and not blink an eye.
Le Mans Master
Joined: Jan 2017
Posts: 5,363
Likes: 4,108
From: New England
Paying over MSRP for a C8 will cost you big in the long run.... once the market adjusts, you'll be on the same depreciation curve as anybody else, except you'll already be $10K+ in the hole....
That said, buying a new Corvette is stupid.... you'll get killed on depreciation... it's just a matter of how much money you can afford to **** away.... some people can **** $25K away, and not blink an eye, some can **** $45K away and not blink an eye.
That said, buying a new Corvette is stupid.... you'll get killed on depreciation... it's just a matter of how much money you can afford to **** away.... some people can **** $25K away, and not blink an eye, some can **** $45K away and not blink an eye.
Melting Slicks
Joined: Jun 2013
Posts: 2,598
Likes: 1,593
Corvettes depreciate.... but like Porsches, they plateau out after about 3-4 years..... so if you do a depreciation schedule, it looks like this:.... 15%, 15%, 10%, 10%.... and then a couple $K a year based on condition... if you plan to keep the car for more than 5 years, its not that bad, but if you buy a new Corvette (or any car) and sell it after 2 years, you take pipe...
E-Ray, 3LZ, ZER, LIFT
Joined: Sep 2007
Posts: 34,932
Likes: 12,344
From: NE South Carolina
Can't be stupid and remain a drug dealer! 
Have a funny anecdote I use often re our education system. I have been Chair of our local tech college welding program "Advisory Committee" for over 15 years (been a member for over 35.) The fellow now in charge of the program (have about 125 students in the degree program) had an interesting story when some of our industry members complained about math skills from some of their graduates. One of the issues he has is kids coming in from high school have a hard time dealing with fractions and even reading a ruler. He told being at the local correction facility for folks nearing release and doing his classroom teaching there. They would come to the college "under supervision" for hands on skills.
He was discussing reading a ruler and adding fractions. One of the "students" was rattling off answers instantly to his questions. He told the fellow in front of the class, "You are the best student I have had in 15 years dealing with fractions." The "student" said, "You sell drugs, you learn to deal with fractions all the time!" Unfortunately just misdirected intelligence!
Have a funny anecdote I use often re our education system. I have been Chair of our local tech college welding program "Advisory Committee" for over 15 years (been a member for over 35.) The fellow now in charge of the program (have about 125 students in the degree program) had an interesting story when some of our industry members complained about math skills from some of their graduates. One of the issues he has is kids coming in from high school have a hard time dealing with fractions and even reading a ruler. He told being at the local correction facility for folks nearing release and doing his classroom teaching there. They would come to the college "under supervision" for hands on skills.
He was discussing reading a ruler and adding fractions. One of the "students" was rattling off answers instantly to his questions. He told the fellow in front of the class, "You are the best student I have had in 15 years dealing with fractions." The "student" said, "You sell drugs, you learn to deal with fractions all the time!" Unfortunately just misdirected intelligence!
Le Mans Master
Joined: Jan 2017
Posts: 5,363
Likes: 4,108
From: New England
Corvettes depreciate.... but like Porsches, they plateau out after about 3-4 years..... so if you do a depreciation schedule, it looks like this:.... 15%, 15%, 10%, 10%.... and then a couple $K a year based on condition... if you plan to keep the car for more than 5 years, its not that bad, but if you buy a new Corvette (or any car) and sell it after 2 years, you take pipe...
C8’s a whole different beast. Most dealers have a minimal 6-12 month waiting list and we are heading towards our third model year. I just don’t see massive depreciation hitting the C8 for a long time.
Instructor
Joined: Jun 2009
Posts: 246
Likes: 26
From: Statesville NC
All cars depreciate but specialty cars are in their own realm. Typically specialty cars, such as the Corvette, depreciate initially but then hold their value. Heck, I was lucky enough to purchase a used C6 that was 6 months old with only a couple hundred miles on it and 4 years later I sold it for the same price I purchased it for.