The Art of the Best Deal on Your New Corvette
When it comes down to performance-per-dollar in the sports car world, the C7 Corvette is one of the biggest bargains around. Here are six tips to ensure you make your bargain as big as possible.
1. Know exactly what you want out of Corvette ownership
It sounds strange, but it’s true. One of the biggest issues when it comes to getting the best deal on a new Corvette is putting the purchase in “future use” perspective. Do you want a bare-bones daily driver? A mid-priced weekend cruiser? Perhaps a fully-loaded track day car or an ultra-limited-edition investment, um… vehicle. And once you choose, how long do you plan to keep it? Will it accrue significant mileage and therefore increased maintenance costs will need to be factored in? All of these questions are best sorted in up front, and an honest appraisal of your wants and expectations can keep you from wasting money on features and capabilities you’ll never use.
2. Know which new Corvette model best meets your needs
The 2018 Corvette Stingray lineup ranges from the $56,490 1LT Coupe/$60,490 1LT Convertible, to the $89,435 Z06 3LZ Coupe/$93,435 Z06 3LZ Convertible, with the Grand Sport model in between. That means there are three distinct models, in two different body styles, two types of transmissions, and a ridiculous menu of options and packages from which you can choose. At the most expensive end of the option sheet are the ultra-limited Carbon 65 Edition, maximum-attack Z51, and track-rat Z07 packs. It is extremely easy to break the $100k barrier when outfitting a C7 Z06, but unless you need to have the highest-performance, rarest or priciest models for investment purposes, sensible shopping yields significant savings.
3. Know exactly what you will – and won’t – take options-wise
Yes, the process of building one’s perfect Corvette can be quite daunting – as evidenced by the 23 wheel choices alone – but putting in the time ahead of time will lead to significant savings. The more flexible you are on the trim, package and equipment you’ll take, the better the chance you’ll hit upon a bargain. Sometimes you’ll find a dealer that is stuck with an oddly-configured car, or one in a (relatively) unpopular color combination. More often you’ll find the “boilerplate” models – say, a red automatic with a handful of options – that every dealer automatically orders, and if you catch them on a good day you may get a deal. The market is full of dealer ordered "boilerplate" cars and if a “common” Corvette is good enough for you, your savings will be better.
4. Know the MSRPs and the market (new AND used)
For this exercise we’re assuming you’re buying a brand new Corvette, but even so, knowing the depreciation curve on earlier C7s is a valuable tool when it comes to anticipating the day years from now when you do sell it AND calculating the best price on your day of purchase. Since the day someone built the second car everyone has known that the best time to buy a vehicle is on the cusp of its replacement. Even when no significant changes are made from one model year to another, new models always bring factory and dealer incentives, rebates, discounts, etc. In fact, even the rumor of an upcoming improvement can be enough to make dealers twitchy about “sitting” anything but the latest iron. With the fast approaching C7 ZR1 and long rumored mid-engined “C8” looming over today’s C7 sales, you should use the uncertainty to your advantage.
5. Know the buying process from the dealership side
Kerbeck Corvette – the “World’s Largest Corvette Dealership for the Past 23 Years” – is the literal go-to source for a huge number of Corvette purchasers, and the expertise they have amassed cannot be underestimated. Neither, however, can your relationship with your local dealer if you’ve fostered one. While it’s true that volume dealers often benefit from the Machiavellian machinations that are involved in the “dealer allocation” system (the number of high markup models a dealer is given is based on sales volume), ANY dealer can usually look in the system and find out what’s on every dealer's lot across the country, what’s being built and when a car you’d order would arrive. Consult as many dealerships as you can – especially during model year changeover – because you never know; the Corvette of your dreams could be just down the road from you at a roaring discount.
6. Know what financial arrangement will suit you best - then celebrate!
I cannot pretend to understand all that goes into the dark art of financing a car, but in general, there are multiple ways to arrange for a new Corvette to follow you home, and the best ones are often the least understood. Is it better to buy or to lease? Finance or pay cash? Zero percent interest or rebate/incentive up front? Long- or short-term loan? Zero down or lower monthly payments? Here again is where you consult as many dealerships and banks and credit unions, etc., as you can until you find the method that best fits your unique situation. This is by far the least “fun” of the steps, but it’s the most important one to get right. Never sign a deal you’re not 100 percent comfortable with, and always be ready to just walk away unless you can get a deal you feel is fair.
Once that's done, congratulations! Not only did you get a great deal, you got a freaking Corvette! Time for you to drive off happily into the sunset...
For help with service of your car, check out the how to section of CorvetteForum.com