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Got a trade in quote from carmax on 25 Z06 1lz, 119K msrp and 2k miles. 89K. the trade in values arent that much better from other dealerships. also auction prices for 1lz MY25 seems to be low 90s as well. pricing a grandsport starting in mid 90s would be a mistake given the "market value" of the Z06. this data point seems to be consistent with bring a trailer recent auctions as well. all Z06s regradless of trim, packages with 1k or less miles trading ~ 76% msrp. i dont care how well off you are, taking a 30k hit before taxes in the first 1k miles would suggest a massive market correction on new sales in the coming months. base MY26 Z06 1lZ package with msrp of low 120 range would have to be marked down to 100k range to see some movement.
Best bet is to just keep and enjoy what you have. Don't worry about the miles being put on them and love every mile and minute that you are behind the wheel. All C8's are depreciating assets and will be very hard to break even or make any money on them when selling them or trading them in.
It hurts but there's a price to being a Corvette membership.
I was thinking about trading up from a 2024 HTC to a 2026 HTC, same build. It would cost nearly $20k without the Vaseline.
If the dealers are going to made it hurt, I will wait till 2028 or 2029.
There's a few 2026 1LZ cars that you can buy new for slightly over 100k(105k was the cheapest I saw) right now... A few higher trim cars with 15-22k off(22k off was highest I saw)...
PLUS if you find a 2025 the 4k off GM Corvette Loyalty is still going on...
So 89k as a trade in price wouldnt shock me honestly.
Typical depreciation for any high end mass production sports or luxury car is 20% of MSRP after one year of service. And most buyers aren't paying MSRP.
Got a trade in quote from carmax on 25 Z06 1lz, 119K msrp and 2k miles. 89K. the trade in values arent that much better from other dealerships. also auction prices for 1lz MY25 seems to be low 90s as well. pricing a grandsport starting in mid 90s would be a mistake given the "market value" of the Z06. this data point seems to be consistent with bring a trailer recent auctions as well. all Z06s regradless of trim, packages with 1k or less miles trading ~ 76% msrp. i dont care how well off you are, taking a 30k hit before taxes in the first 1k miles would suggest a massive market correction on new sales in the coming months. base MY26 Z06 1lZ package with msrp of low 120 range would have to be marked down to 100k range to see some movement.
Did you pay MSRP?
Assuming you got 6% off MSRP $119K - 6% = $111.8K. $111.8K - 20% (first year depreciation) = $89.4K. And if you scribe to the 20% first year and 5% every year after you may be making out….
The only reasonable answer is to buy gently used and let someone else take the major 1st year hit. That's what I did and got $32k off sticker for 1,500 miles. I'm sure I'll still take a hit when I sell, but the key is to get it down to under $10k/yr. These days you can't drive anything remotely as sexy as a HTC Vette for under $800/mon - unless you take a gamble on a porsche and get lucky. But I'd argue most of the P cars aren't as sexy as our Vettes and if you want one that doesn't depreciate, you've got to tie up some real $$.
Best bet is to just keep and enjoy what you have. Don't worry about the miles being put on them and love every mile and minute that you are behind the wheel. All C8's are depreciating assets and will be very hard to break even or make any money on them when selling them or trading them in.
Got a trade in quote from carmax on 25 Z06 1lz, 119K msrp and 2k miles. 89K. the trade in values arent that much better from other dealerships. also auction prices for 1lz MY25 seems to be low 90s as well. pricing a grandsport starting in mid 90s would be a mistake given the "market value" of the Z06. this data point seems to be consistent with bring a trailer recent auctions as well. all Z06s regradless of trim, packages with 1k or less miles trading ~ 76% msrp. i dont care how well off you are, taking a 30k hit before taxes in the first 1k miles would suggest a massive market correction on new sales in the coming months. base MY26 Z06 1lZ package with msrp of low 120 range would have to be marked down to 100k range to see some movement.
But this is wholesale value, not retail. Wholesale is always much lower because they have to resell and make a profit.
So, you can't compare to what you paid new or compare to sticker price.
my point was that usually new car pricing correlates strongly with he lightly used ones. if the 25 models with 1500 miles go for low 90s, the brandnew market would have to adjust to high 90s from low 120k msrp. that hasnt happened yet but my i'd bet we soon will be seeing new Z06 for sub 100k . at that point how much are you willing to pay for a grand sport with mid 90 msrp? 80K?
Really can't worry about depreciation if you're buying new. Comes with the territory. You should see the depreciation rates for large German sedans or exotics like the Astons, Maserati MC20 and Ferrari 296GTB. They'll make your eyes water.
If you want free or almost free sports car motoring, the Porsche GT cars are what you covet. Everything else that is not an exotic, forgetaboutit!!!
GM, McLaren, Lotus are the worst for depreciation. People forget that prior to Covid, GM's Camaro & Corvette depreciation rates were HUGE. We are just getting back to the norm.
Got a trade in quote from carmax on 25 Z06 1lz, 119K msrp and 2k miles. 89K. the trade in values arent that much better from other dealerships. also auction prices for 1lz MY25 seems to be low 90s as well. pricing a grandsport starting in mid 90s would be a mistake given the "market value" of the Z06. this data point seems to be consistent with bring a trailer recent auctions as well. all Z06s regradless of trim, packages with 1k or less miles trading ~ 76% msrp. i dont care how well off you are, taking a 30k hit before taxes in the first 1k miles would suggest a massive market correction on new sales in the coming months. base MY26 Z06 1lZ package with msrp of low 120 range would have to be marked down to 100k range to see some movement.
Ya. I have a 22 2LT Coupe 4200 miles nicely optioned that Edmunds literally offered me $20,000 on. Nice of them.
Holly depreciation!! C8 z06
