2018/2017 discounts
07-01-2017, 10:39 PM
#21
Race Director
Hopefully even without any factory incentives, dealers are still willing to budge a little bit off MSRP, I don't think it's unreasonable to expect $3000 off MSRP on 1LT models with few options, and up to $6 or $7000 off MSRP for loaded up 3LT models. I have been checking the inventory that's available at a lot of dealers in southern Ontario and a lot of them have been stuck with the same cars for 3-4 months or more. If they aren't willing to come down from MSRP, they are going to be stuck with those same cars even longer.
07-03-2017, 07:48 AM
#22
Was told by a dealership General Manager in Ontario that inventory costs are covered by GM for the first 3 months a car is on the lot. After that, the dealer pays for it's inventory. If true, incentive comes to move the car after it's been on the lot for 3 mths. Think about that for a second - dealer is laughing if he knows how to move stock and keeps his inventory at a cheap offsite location.
Given this, it is irrelevant to the dealer if you do a factory order as unless the car you are buying has been on the lot for 3 months his risk is not immediate. What a factory order is doing is reducing his risk of being stuck with it in 3 months. Dealer would view it as a "gouge the customer" scenario as it's a special order. Your view should rightly be that you are providing an "infinite inventory turn" scenario. To the dealer anything under 3 months is infinite inventory turn. What a factory order does is free up a parking spot on his lot plus any insurance coverage on the vehicle and allows him to realize his profit immediately.
My dealer buyback from many years ago showed that the GM margin on my vette was 20% (GM factory cost vs MSRP - or so I was told but who really knows lol). Now go negotiate and see you in your new vette - seems like "allocation" is the key negotiating position/strength for the dealership vs anything else.
Given this, it is irrelevant to the dealer if you do a factory order as unless the car you are buying has been on the lot for 3 months his risk is not immediate. What a factory order is doing is reducing his risk of being stuck with it in 3 months. Dealer would view it as a "gouge the customer" scenario as it's a special order. Your view should rightly be that you are providing an "infinite inventory turn" scenario. To the dealer anything under 3 months is infinite inventory turn. What a factory order does is free up a parking spot on his lot plus any insurance coverage on the vehicle and allows him to realize his profit immediately.
My dealer buyback from many years ago showed that the GM margin on my vette was 20% (GM factory cost vs MSRP - or so I was told but who really knows lol). Now go negotiate and see you in your new vette - seems like "allocation" is the key negotiating position/strength for the dealership vs anything else.
Last edited by raztek; 07-03-2017 at 08:21 AM.
07-03-2017, 10:10 PM
#23
Instructor
Unhaggle has the base Stingray 1LT at a 12.2% markup (MSRP $64795 vs Invoice $57733). GS or Z06 would have a higher markup I assume. I agree that those dealers with higher allocation / inventory will discount more to move inventory.
Keep in mind that knowing Dealer invoice doesn't automatically get you a better deal. Dealers will want to "keep" as much of the margin as they can. When you get an unhaggle report, a local dealer is forwarded your contact info. The local dealer I got, knowing I knew the dealer margin of about $7k would not discount more than $1k. This was a smaller Vette dealer, so I went to a larger one and got a higher discount.
Keep in mind that knowing Dealer invoice doesn't automatically get you a better deal. Dealers will want to "keep" as much of the margin as they can. When you get an unhaggle report, a local dealer is forwarded your contact info. The local dealer I got, knowing I knew the dealer margin of about $7k would not discount more than $1k. This was a smaller Vette dealer, so I went to a larger one and got a higher discount.
07-05-2017, 06:05 PM
#24
Race Director
I have a while to go before I'm going to be placing my order but I have to try and figure out which dealer is going to give me the best discount. I figure I will place the order sometime around January or February that way the car arrives (hopefully) sometime around mid April to early May. So all of the info in this thread is fantastic so far, keep it coming! 
07-16-2017, 02:05 AM
#26
Burning Brakes
I'm looking into getting into a 2018 GS and went by the local dealer today.
I was offered $5000 off a 2018 2LT GS if I were to custom order it. Was also told I could get 10% off if the vehicle was sitting on the lot in inventory. I was hoping for 10% on the custom order. This is in south eastern Ontario. Both my local dealers currently have no allocations and are sitting on 3-4 Vettes, some have been on the lot for months.
I'm hoping some incentives show up over winter when ordering after the plant re-opens to get one built for March.
I was offered $5000 off a 2018 2LT GS if I were to custom order it. Was also told I could get 10% off if the vehicle was sitting on the lot in inventory. I was hoping for 10% on the custom order. This is in south eastern Ontario. Both my local dealers currently have no allocations and are sitting on 3-4 Vettes, some have been on the lot for months.
I'm hoping some incentives show up over winter when ordering after the plant re-opens to get one built for March.
Last edited by Exia; 07-16-2017 at 02:06 AM.
07-31-2017, 03:32 PM
#27
Melting Slicks
I have a while to go before I'm going to be placing my order but I have to try and figure out which dealer is going to give me the best discount. I figure I will place the order sometime around January or February that way the car arrives (hopefully) sometime around mid April to early May. So all of the info in this thread is fantastic so far, keep it coming!
07-31-2017, 04:35 PM
#28
Race Director
Homes in my neighborhood haven't dropped in value at all, a semi just sold across the street from me for 1.1 million. So we're still on target to get the number we want for our home next year when we move into our new home, so my C7 plan is still a go!
I have decided which dealer I'm giving my business to as well, Brian Cullen in St Catharines. They always have a ton of Corvettes in stock (so they have a big allocation) and they are one of the only dealers right now that actually shows a decent discount on new 2018s ($3000 off)
Last edited by Patman; 07-31-2017 at 04:37 PM.
08-02-2017, 10:23 AM
#29
Melting Slicks
08-02-2017, 10:55 AM
#30
Race Director
I know you stated you have good sources providing you with market information (real estate agents, family, friends and media) but let me just give you a couple FACTS as of August 02, 2017....even in tony Oakville, 16 mile creek is tinged crimson with a 21% drop as days on market have tripled with a $300,000.00 reduction in median detached values.....this collapse will continue and make 1989 look like kids play.
And as far as values go, the ONLY thing that matters as far as my situation is concerned, is how the comps are in my neighborhood, and so far that looks promising. Our current home is a 7 year old townhouse surrounded by a lot of 2-3 million dollar homes. It's a very desirable neighborhood (great schools, close to the 403, QEW and 407), and a lot of new immigrants to Canada settle on our particular street because they can get a 4 bedroom townhouse like ours for 1.1 million as opposed to spending 2 million plus for one of the detached in the same area. Those bigger $$$ detached are losing a bit of value currently but are still over 2 million.
On the other end of things, the new home we bought is a 2800 sq ft detached with a double car garage with the current closing date being April 2018. We bought it in March 2016 for $1,059,000 and that exact same model is now being sold by Fernbrook in the same community for over 1.8 million! We haven't even moved in and on paper have made a ton of money. But even if the value of that home comes down, I seriously doubt it would ever go below 1.5 million. When we sell it in 2022 and retire, I expect it should be closer to 2 million in value (but even if it's not our plan to retire will still go ahead)
08-02-2017, 11:36 AM
#31
Melting Slicks
I disagree, the fundamentals are not there for a big crash like in 89. Interest rates are low, the economy is on the upswing, and there are still a ton of buyers out there and not as much inventory. IMO (and of many experts), this is just a temporary pause in the market with buyers currently sitting on the sidelines waiting for prices to drop and in a lot of areas they aren't dropping much or are still rising. There are a lot of doom and gloom stories out there, but the more common belief that I'm hearing is that home values in the GTA will continue to rise at a pace of around 5% per year.
And as far as values go, the ONLY thing that matters as far as my situation is concerned, is how the comps are in my neighborhood, and so far that looks promising. Our current home is a 7 year old townhouse surrounded by a lot of 2-3 million dollar homes. It's a very desirable neighborhood (great schools, close to the 403, QEW and 407), and a lot of new immigrants to Canada settle on our particular street because they can get a 4 bedroom townhouse like ours for 1.1 million as opposed to spending 2 million plus for one of the detached in the same area. Those bigger $$$ detached are losing a bit of value currently but are still over 2 million.
On the other end of things, the new home we bought is a 2800 sq ft detached with a double car garage with the current closing date being April 2018. We bought it in March 2016 for $1,059,000 and that exact same model is now being sold by Fernbrook in the same community for over 1.8 million! We haven't even moved in and on paper have made a ton of money. But even if the value of that home comes down, I seriously doubt it would ever go below 1.5 million. When we sell it in 2022 and retire, I expect it should be closer to 2 million in value (but even if it's not our plan to retire will still go ahead)
And as far as values go, the ONLY thing that matters as far as my situation is concerned, is how the comps are in my neighborhood, and so far that looks promising. Our current home is a 7 year old townhouse surrounded by a lot of 2-3 million dollar homes. It's a very desirable neighborhood (great schools, close to the 403, QEW and 407), and a lot of new immigrants to Canada settle on our particular street because they can get a 4 bedroom townhouse like ours for 1.1 million as opposed to spending 2 million plus for one of the detached in the same area. Those bigger $$$ detached are losing a bit of value currently but are still over 2 million.
On the other end of things, the new home we bought is a 2800 sq ft detached with a double car garage with the current closing date being April 2018. We bought it in March 2016 for $1,059,000 and that exact same model is now being sold by Fernbrook in the same community for over 1.8 million! We haven't even moved in and on paper have made a ton of money. But even if the value of that home comes down, I seriously doubt it would ever go below 1.5 million. When we sell it in 2022 and retire, I expect it should be closer to 2 million in value (but even if it's not our plan to retire will still go ahead)
Enjoy your C-7.
08-14-2017, 10:15 AM
#32
Race Director
I posted this in the C7 section on the weekend, but I'm sure a lot of you don't go on there so you don't know the latest news. I dropped by Brian Cullen Chevrolet on Saturday and spoke to one of their salesmen, I told him I wanted to take delivery roughly around May of next year, so he asked me to go on the build and price section of the GM site, configure the car how I want it, send him the PDF file and he would get me the exact pricing. He's now on vacation until Labor Day, so when he returns I'm going back there and leaving a deposit and signing the paperwork and the order will be placed once GM allows (the plant is currently closed until early November so I'm not entirely sure when orders are allowed to be entered again).
So my dream is finally becoming a reality, I've wanted a C7 ever since they introduced it to the public in early 2013, and I've always wanted to order a brand new Corvette to my specs.
So here is how I configured my car:
Torch Red 1LT coupe
Grey interior
8 speed automatic (so my wife can drive this one)
Z51 spoiler (in red)
Carbon Flash Badge Package
Battery Protection
Black wheels
Red calipers
I'm undecided on whether I want to trade in my C6 or if I want to sell it privately. I definitely don't want to advertise it on Auto Trader or Kijiji, way too many tire kickers and yahoos will call and everyone will want a test drive. But if someone on here is seriously interested I would entertain that idea for sure. The salesman even said I could work out a deal to sell it privately and they would do the paperwork through their dealership (not sure what benefit that provides the seller but I have heard of a lot of people going this route when selling)
So my dream is finally becoming a reality, I've wanted a C7 ever since they introduced it to the public in early 2013, and I've always wanted to order a brand new Corvette to my specs.
So here is how I configured my car:
Torch Red 1LT coupe
Grey interior
8 speed automatic (so my wife can drive this one)
Z51 spoiler (in red)
Carbon Flash Badge Package
Battery Protection
Black wheels
Red calipers
I'm undecided on whether I want to trade in my C6 or if I want to sell it privately. I definitely don't want to advertise it on Auto Trader or Kijiji, way too many tire kickers and yahoos will call and everyone will want a test drive. But if someone on here is seriously interested I would entertain that idea for sure. The salesman even said I could work out a deal to sell it privately and they would do the paperwork through their dealership (not sure what benefit that provides the seller but I have heard of a lot of people going this route when selling)
Last edited by Patman; 09-14-2017 at 04:54 AM.
08-14-2017, 11:01 AM
#33
Burning Brakes
I also just placed an order for a 2LT Grand Sport last Wednesday.Sadly I do not qualify for employee pricing but I managed 6% off MSRP ($5500) plus whatever incentives they have when the car arrives.
I could not get a value for my trade in as they told me the Corvette would most likely not arrive until spring and they can't forcast 8 months on my current vehicle.
I will be looking to sell it privately once the new year comes around and if I can't I will just trade it in.
I could not get a value for my trade in as they told me the Corvette would most likely not arrive until spring and they can't forcast 8 months on my current vehicle.
I will be looking to sell it privately once the new year comes around and if I can't I will just trade it in.
08-29-2017, 06:58 AM
#34
Melting Slicks
Pat:
Just a heads up....08/29/2017 In seven days the largest real estate board will be forced to admit year-over-year house prices have gone down.
August numbers will show a price decline in the neighbourhood of 20%, while sales continue to run 40% - 60% below last years levels.
The second shoe makes it worse. The universal stress test. All borrowers will be required by the end of the 2017 to qualify at the current rate + 2%, regardless of downpayment. It means mortgage rates will have gone from 2% to 5% in less than a year.
Be careful and don't trust anybody for free real estate advice.....
Just a heads up....08/29/2017 In seven days the largest real estate board will be forced to admit year-over-year house prices have gone down.
August numbers will show a price decline in the neighbourhood of 20%, while sales continue to run 40% - 60% below last years levels.
The second shoe makes it worse. The universal stress test. All borrowers will be required by the end of the 2017 to qualify at the current rate + 2%, regardless of downpayment. It means mortgage rates will have gone from 2% to 5% in less than a year.
Be careful and don't trust anybody for free real estate advice.....
08-29-2017, 07:21 AM
#35
Race Director
Houses in my neighborhood still haven't dropped in price (they are just taking longer to sell than they did in the spring), and as I have said before, that's the ONLY thing that matters to me. I'm done talking real estate with you. Corvettes only from now on.
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corrado (08-29-2017)
08-29-2017, 08:02 AM
#36
Le Mans Master
Member Since: Feb 2006
Location: Bradford, Ontario
Posts: 5,752
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2021 C6 of the Year Finalist - Modified
Pat:
Just a heads up....08/29/2017 In seven days the largest real estate board will be forced to admit year-over-year house prices have gone down.
August numbers will show a price decline in the neighbourhood of 20%, while sales continue to run 40% - 60% below last years levels.
The second shoe makes it worse. The universal stress test. All borrowers will be required by the end of the 2017 to qualify at the current rate + 2%, regardless of downpayment. It means mortgage rates will have gone from 2% to 5% in less than a year.
Be careful and don't trust anybody for free real estate advice.....
Just a heads up....08/29/2017 In seven days the largest real estate board will be forced to admit year-over-year house prices have gone down.
August numbers will show a price decline in the neighbourhood of 20%, while sales continue to run 40% - 60% below last years levels.
The second shoe makes it worse. The universal stress test. All borrowers will be required by the end of the 2017 to qualify at the current rate + 2%, regardless of downpayment. It means mortgage rates will have gone from 2% to 5% in less than a year.
Be careful and don't trust anybody for free real estate advice.....
I know you like horses, is that why you continue to beat a dead one?
Seriously, this thread is about CORVETTES and the dealer discounts, it really seems you secretly get off on trying to be a downer on other people's happiness.
Patman, good luck on your future C7! I know you've been wanting one for a long time, you're going to love it!
Last edited by corrado; 08-29-2017 at 08:03 AM. Reason: spelling, as always!
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Patman (08-29-2017)
08-29-2017, 08:13 AM
#37
Melting Slicks
I know you like horses, is that why you continue to beat a dead one?
Seriously, this thread is about CORVETTES and the dealer discounts, it really seems you secretly get off on trying to be a downer on other people's happiness.
Patman, good luck on your future C7! I know you've been wanting one for a long time, you're going to love it!
08-29-2017, 08:14 AM
#38
I scooped up a left over 2017 1LT base, manual, for $7500 off msrp. I was happy with that. Also got .99% financing so that was a bonus too! It was the last 17 the dealer had remaining. Great to be back in a Vette!
08-30-2017, 06:52 PM
#40
Race Director