How will C8 affect C7 used prices?
 

The C7 will keep depreciating as any used corvette does whenever a new generation is released. The first 3 years a car depreciates the fastest and then tends to slow after that. Cars that will probably be affected the most will be the hold-over ones on the lot sitting next to the brand new model. Dealers always offer bigger discounts to get the last year of the previous model off the lot because, naturally, the newest model is the most desirable.

In our neck of the woods, I'd estimate C6's (in general) have dropped approximately 5% in value each year since the C7's came out, for a total depreciation of 30% over the past 6 years. I would expect the C7's to follow suit when and if the C8 comes out.

A lot of how the C7 does in resale is dependent upon how well the C8 is received (sales volume). If the ME C8 turns out to be as popular as the 3rd generation Mustang (Mustang 2), the C7's will do very well as used cars; on the other hand, if the C8 is a popular (sales volumes) as the C7 was, then it will suffer the same fate as the C6.

I believe it has a lot to do with how GM positions the new C8 pricewise in the market. I'd be willing to bet the ranch that it will be premium priced vs the updated FE C7 that will be sold next to it. That will help them hold the typical Corvette buyers attention while the C8 serves as a 'halo' or 'aspirational offering' next to it in the showroom.

Long way of saying that, in my opinion, there won't be any great collapse in the pricing and resale value of the C7's when the ME is introduced.

I would depend on the details of the C8 ME, but I'm still in the camp that thinks GM will make a C8 front engine RWD Corvette eventually which will have an impact.

According to rumors, GM will continue to make the C7 for another 2 years or so after the C8 ME launch. What that tells me is they will be considered as separate models within the Corvette brand.

Biggest difference between the C6 and C7 is the powertrain and other incremental improvements.

The C6 LS2 vs the LS3 cars were significant. The C7 in '14 is pretty much the same car as just came off the line except for infotainment and wheels.

If I was buying a C6 I'd care what year I get, for the C7 doesn't matter, at least for a manual it doesn't.

:agree: One wild card may be how long does GM build C7's and what do they say about it's future ? If the C7 is the LAST FE Corvette, values of "pre-owned" C7's with low miles may actually go up or at least stay even. These C7's cannot be replaced with anything NEW for a large set of FE-committed buyers. That wasn't true for the C6 or the C5.

Look at what has happened to Jaguar E-Type values.....it was never really replaced until the F-Type came along decades later.

Anyone who thinks that the C7 prices will not get crushed is kidding themselves. They already have tanked due to GM building more than they can sell.

C8 comes out hang on as all of us C7 owners will get crushed

Depreciation on previous gen models always take a hit as the new generation releases...

It's not a surprise. This happens with each new generation...

There is a chance if the c8 doesn't offer a manual transmission (which I think the c8 will) the. The manual transmission c7 models should tick up a little compared to the automatic transmission ....

Manual transmissions are becoming a rare option so it could hold value better especially if the c8 is dct only...

Corvettes maintain value incredibly well. Other mass produced sports cars are at about 42% of MSRP after 3 years.

I find Vette owners to be unrealistic. I shopped for a C7 hard when they were about 2 years old and the pricing was usually more than a brand new one! For a 2 year old car!

The ME is a completely different car and trying to figure out the impact to the C7 will be difficult. Common sense would suggest If the new ME is priced only 10k north of the base C7 & it’s an automotive hit, the automatic trans C7 will take a big depreciation hit. If the ME is only a DCT, the manual C7 should be better off than the auto. If GM announced no future manual trans then manual C7's will have less depreciation over time and could appreciate or flatten out faster. We will always have the FE faith fulls that won't convert to the new ME platform. If the ME is an automotive hit and it has a low entry price point GM will attract new buyers which will increase ME demand. I agree with some on this forum GM makes way to many corvettes, but if they didn't the entry price would be much higher.

If you couldn't find a used C7 cheaper than a new one 2 years after production started you were not looking very hard. They were quite literally available everywhere.

Used C7 prices will depend largely on what the C7 becomes the "last" of. By that I mean, is this the last vert Corvette? Is this the last manual shifting Corvette? Is this the last FE Corvette?
A lot of used C7 values will depend on these questions and what C7 you own. If all of the above are true, then I suspect someone with a manual, vert C7, like Foosh, will be sitting on a car that maintains it's value very well. If none of it is true, then I suspect the C7 will slide in value just like any other car.

C7 will follow traditional previous generational depreciation...

Usually five years 50 percent drop is a decent ballpark for anywhere near 7 to 10k per year usage..

Of course garage queens will garner a few extra grand for those that like that ...

if the c8 does not offer a manual transmission there is a slight chance the manual c7s will be worth a grand more as well...but a dct only c8 isn't going to happen ...

23 percent of all c7 s are manuals and GM isn't giving up on that ...I'm sure the supplier of manual transmissions is only to happy to supply GM the manual transmission it wants

To confirm, just look at the used Corvette market. A 10 year old low mile quality condition Corvette sells for right at about half it's original MSRP as a general rule, of course there will be exceptions.

Seems to me that a new model doesn't really effect the used market that much if at all.

I agree. From reading this and other forums I get the impression folks are a bit concerned about dropping residual value on C7's once the new model is announced. I think it depends on the first impression of the new model and cost.. I think IMO, C7 Z06 owners will take an extra hit but Stingrays will fare better over the long haul I say that because IMO, the Z06 will be the first to go, to be replaced by the high cost ME in 2020. I think the GS line will be dropped for a few years and the Stingray will live on until a lower cost ME Stingray is introduced. Call it a case of wild speculation on a Sunday afternoon........... :)

C6Zr1 prices seems to be hanging in there well, if you ask me, and I'm not trying to be bias (as I own one) but I've been pleasantly surprised that the car is still worth quite a bit. It seems as of right now those prices will stay ahead of the curve...maybe because there's only 4500 of them (ish)? If you've been in the car hobby for a while, what once didn't sale well (the C6ZR1 didn't) becomes the "collector/more valued car" later due to the "lesser number" of them being sold.
just my thoughts of course :cheers:

Hope you're right, as I won a 2013 ZR1. :yesnod:

Autotrader