PANJGUY

Newbie here, looking pick up my first vette this Fall and I am trying to understand pricing on the used 2014s and 15s....I was looking to get into a Z51, A6/A8 with at least a 2lt and mag ride and npp. KBB and both private parties and dealers are asking mid 40s to low/mid 50s however I could pickup a new 2017 GS at Kerbeck (granted only a 1LT) but with mag ride and npp for 60k. Question to the experienced owners in the forum - once the 2018s hit the road this summer will the pricing on those 14s and 15s get to more reasonable levels vs. 2017 leftovers? I know the hardest words to hear are "Sorry, your car is only worth XX" and that is 20% lower than what you think!!!

thill444

Keep in mind that you typically have a good buffer to play with when you see posted prices for used cars from dealers and private party. Most used dealer cars are $4K overpriced and many of these dealers will negotiate on price. I recommend Cargurus as they show you how long a car has been sitting on a dealer lot. I was able to find my used Z51 for almost $2K below KBB used dealer pricing this way. It had been sitting for months and the dealer wanted to sell it.

Mid $40K range for a loaded Z51 doesn't seem unresonable to me assuming the car has resonable mileage. That car would have stickered for $70K plus.

roadbike56

Panjguy,
As used C7s approach the $40K price point, a new group of buyers become interested in the C7. When prices began at $45K for a used C7, the typical response on the forum was "add another $5K and buy a new C7", and that did make some sense.
But now the low end is at $40K for a high mileage car or a base model with few options but with lower mileage. Telling someone to increase their purchase price by 25% doesn't fly real well.
My point is, there's a new group of buyers at the $40K mark that will prop up used prices until that market is satisfied. I don't know how long that market will last, but until it's exhausted, prices on used C7 will stabilize. Then the mark will fall to around $35K.
While buying in the fall is a good time to buy, I found waiting until just before Christmas or just after Christmas is the best time as dealers want to unload Corvettes they'll be stuck with until April. Used prices fell considerably from October 2015 compared to late December 2015 when I purchased a CPO car.

patentcad

I gave up on trying to find a used C7 in December and bought a new one. Maybe one day the used market on C7s, particularly here in he northeast, will adjust to reality. It was hard to figure.

thill444

I have seen 2014 3LT C7's with NPP, etc and under 10K miles for $42-43K. You are not gonna buy a new 3LT C7 with NPP for $5K more.

The deals are out there, you need to find them and you need to negotiate. Some of the used car prices are just ridiculous (example a used 2014 C7 with 110-15K miles selling for almost the same price as a similar spec'd brand new C7). But some dealers intentionally inflate their used car price knowing people will negotiate. If they drop the price $5K off the posted used price people suddenly think they are getting a good deal when in reality they are paying the true market value.

So many games with car sales, you just need to be informed, know how to research, and know how to play the game. Car dealers sell cars for a living all day everyday. They know every game there is and have seen it all a million times.

PANJGUY

Thanks so much for the valuable info, especially on the 40k and 45k price points - makes a lot of sense to me. Also I found Cargurus to be a good site for values when I sold my 911 last year. On that note, what is the days on a dealer lot beyond which they really want to unload the car - 60? 90? And living in the PA I have also heard that waiting for that first snowfall in Nov or Dec. really gets the dealers motivated to unload vettes..I hope it is an early winter! Thanks again for the very valuable feedback!

thill444

I have found that dealers tend to be more motivated with a car has been sitting for 90 days or more. Also, keep in mind there are hundreds and hundreds of brand new 2016's still sitting on dealer lots. I was able to negotiate close to 24% off sticker on a brand new Z51 until I found a used 2016 that had better options and only 2600 miles on it for 29% off sticker.

Buying in winter is a major plus. The car I bought had been on the market for over 100 days and had been transferred to two dealers (from the same autogroup). They were desperate.

PANJGUY

So true about the car dealers knowing every trick in THEIR book! A friend of mine's father once told me - "You buy a car once every what, 3 to 5 years and that man sells cars 365 days a year for a living - who do you think "got a good deal!!!"

Snowwolfe

Blame it on a lot of uninformed sellers who dont keep track of realistic values. I tried to find a nice used 15 or 16 in January of this year. Found plenty of nice cars. But then when communicating with the seller I would tell them I could buy the same car new for less and asked for their bottom dollar. In just about every case they told me to go buy the new one. So I did. Picked up a 2017 1LT with performance exhaust for $46,291.

As inventory dries up this summer and incentives (possibly) go away used prices might remain stable but who can really predict the future.

Myfourth1

I sold my 2014 Base 3LT a month ago for $45,000 with 12,670 miles on it. When researching pricing most websites had similar cars for sale in the $46,000 - $52,000 range so obviously they jack up the prices by a few thousand dollars. I suspect that if I tried to sell my 2014 now, or in a couple of months, I'd be lucky to get $40,000 for it. Regardless of that, it's a pretty big gap between $40,000 for a used 2014 and $60,000 for a new 2017 C7 GS. But base 2017 C7's are currently in the high 40's (with incentives) and low 50's so you have lots of choices to ponder.

Good luck with your search.

RedC7AZ

There are a couple factors keeping values of used 2014/2015 a little closer to new prices than the typical car.

1) For Corvettes, the value of a 2014/2015 will be dictated more so by mileage than age.

2) There aren't enough new features for model years 2016-2018 to justify a larger gap between new and used. It's basically still the same car.

thill444

Those are great points. Especially #2. I really wanted Carplay and liked the flat bottom steering wheel so a 2016+ model was something I preferred but I was still looking at 14-15's.

fourmat

I did the same in October Bought a new 2016 for 8K more than the same dealer wanted for a comparable 14 with 15K on it.
However 2 weeks later the 14 was sold
Chevy had 10% rebate at the time

ny32182

I've heard (but don't have any direct experience) that the sales tax situation in some states also favors used cars, and in those states the price gap is actually bigger than it looks with advertised prices. Obviously anyone who is actually concerned with getting the best price is going to be looking over a wide area, so that might help hold up used values even in states where that doesn't apply, like mine.

When I started looking for C6's I never intended to buy new, but, all the used ones were basically the same price as a new one. So I bought my first new car.

Briefly scanning used C7 prices, it looks like pretty much the same situation today as it was then. So this time around I'll probably spend little to no time seriously looking at used ones. Unless it is relatively very used, you can probably get a new one for the same price or well within 5k of a lightly used one.

themonk

You gave up because prices for used ones weren't what you wanted to pay?

thill444

Either you are looking for a very specific car or are not casting your net wide enough, or you have to negotiate more. New 2017 cars are what 8-16% off? 2016's are probably between 17-25% off depending on color, trim, etc? I think it is realistic to find most used cars 25-30% off MSRP. Higher mileage cars even more. I did not have to work that hard to get 29% off a used 2016 with 2600 miles.

STINGmole

I gave up as well. I was hoping to find a used one at a discount, but the new prices were not much more.

Instead of waiting months/years to find the deal I was looking for, I bought new. I was also able to get exactly what I wanted, and had the bonus of 2016 upgrades, like the D wheel, Android Auto, etc.

I understand that you can get used 2LT/3LTs for a similar (or slightly less expensive) price than a new 1LT...which is a great deal if you want those packages, but to me they're worthless, aside from the front cameras, which would be a nice feature.

With a car like the C7..."new" and "factory warranty" hold more weight than most options.

Zo62018A8

Im the finance manager of a Lexus dealership for their used car department and I NEVER buy used cars. These days when you factor in the rebates on new vehicles, much lower interest rates and the fact that dealers are more aggressive with VOLUME than profit on new cars makes a huge difference. Youll be surprised to find that you can buy a BRAND new lexus right now for LESS than a 1 year old Lexus Certified one with 10k miles when you factor in the rebates and lower interest rates. So why do I work in the used car department and not the new car department? Because I make a lot more money here

ny32182

Exactly... at those numbers, to me the new 2016 is the clear winner, and even more so if you are going to finance all or part of it, as you will get a good interest rate on a new car, where a used one will have to be either a cash deal or 2x higher interest rate... neither of which are particularly appealing options with the stock market doing well.

RedC7AZ

Dealers don't need to price a used C7 so low that they have used car buyers lining up and knocking down the doors. All it takes is one buyer.

A buyer will eventually come along that understands they're not going to get a used C7 at wholesale prices at the dealership.

If the dealer wanted to sell the used C7 at wholesale price, they'd send it to auction right away and not even bother putting it up for sale on their lot.


I'm strictly a new car buyer, but the advantage of buying a used 2014/15 at this stage over a new 2017 is that you won't get hit with cost of the 1st year depreciation. Sooner or later the right buyer will come along that comprehends and sees that as a huge benefit of buying the 2014/115.