C7 hold on to value real well

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gymrat999

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I've been looking on Autotrader at used Stingrays and i find it interesting that they are holding on to their value really well in dealerships....to the point of not buying the 2015 2LT one i was looking at as the dealer wanted $67,000 for it and I discovered I can get a brand new base stingray for $69,000.

It just doesn't make sense to buy used to me. Am I missing something? I'm keeping my eyes open for now as it's there's no rush so I will probably order by december as a Christmas gift to myself if I don't come across something. I'm hoping maybe that $9,000 discount announced in the US will trickle down to the inventory left here (fingers crossed) and get a deal rather than wait.

Is anyone else facing a similar situation of order for next year or buy now? or wait...??
 
gymrat999 said:
I've been looking on Autotrader at used Stingrays and i find it interesting that they are holding on to their value really well in dealerships....to the point of not buying the 2015 2LT one i was looking at as the dealer wanted $67,000 for it and I discovered I can get a brand new base stingray for $69,000.

It just doesn't make sense to buy used to me. Am I missing something? I'm keeping my eyes open for now as it's there's no rush so I will probably order by december as a Christmas gift to myself if I don't come across something. I'm hoping maybe that $9,000 discount announced in the US will trickle down to the inventory left here (fingers crossed) and get a deal rather than wait.

Is anyone else facing a similar situation of order for next year or buy now? or wait...??
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You can get pretty decent discounts now on landed 17 inventory. Be prepared to call around many dealerships even out of province. I don't know about 9k on a base stingray but I hear of discounts over 12k on z06 that haven't sold. As we move into Christmas and winter I expect to see quite a bit more wiggle room.
 
Working on a deal for a new one myself. Was looking used for the last 4 months, but I've found a new 2017 for cheaper than some used ones I looked at. I think the used market is in for a steep drop over the next year.

One thing to keep in mind is how quickly options can add up on these cars. Most of the cars out there have 20-30K in options that you may or may not want, and those are reflected in the used prices. (Although the optioned cars seem to depreciate very rapidly down to just above the stripper models, from what I've seen)
 
G-ForceJunkie said:
I think the used market is in for a steep drop over the next year.
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Not that I care as I have no intention of selling mine but IMO you may see a marginal drop in used prices over the next year... and possibly a touch longer.... But only up until just before the C8 Zora debuts... Once that happens and the speculation runs rampant on the future of the traditional front engine Corvette, my thoughts (for what they are worth) are that the used price will stay abnormally high for the C5, C6 and C7 generations cars. This will be driven by the die hard, and the up and coming Corvette front engine enthusiasts that don't accept the Zora as the traditional American sports car. (and rightly so). The Zora may take over as the American super car but (again IMO), will never challenge as the American Sports car.... Food for thought?
 
The last to go $95,000 MSRP 2017 Z51 3LT Vert Stingray at the Dealership we bought at in Edmonton now has a selling price below $80,000 (27thNov2017)
It's all a matter of appreciating what's left on the lot now...

As far as used ... it's not the Dealer asking price that reflects retained value to me ... it's the Dealer selling price which we rarely/never get to know.
Also a Dealer sale has added tax where a private sale does not.
One of the reasons why I avoid the used market and just deal with the negotiation and financing for new whenever I can.
 
Historically every time a new model comes out, the price of the existing model tend to drop. In this case with the ZR1 (which I guess will be around the $150,000 mark and may be quite limited in availability to keep the price up) may cause the current C7 to hold its value. The Zora, or whatever GM will name the car, may be at or higher in price, again, this may cause the C7 to hold its value. Over the years, the value may decrease (short term) , then slowly increase. I may not be around by then, so I really don't care what they sell for. Simply look at the values of the previous generation vettes and they will tell the story. Short term, prices will drop as buyers speculate and wait on the new C8. My 21/2 cents:)
 
Nik said:
You can get pretty decent discounts now on landed 17 inventory. Be prepared to call around many dealerships even out of province. I don't know about 9k on a base stingray but I hear of discounts over 12k on z06 that haven't sold. As we move into Christmas and winter I expect to see quite a bit more wiggle room.
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a base C7 is 70K so $9 K off is 61K or a paltry 13% off msrp......... easy to top that now. ( Im assuming for a cash deal as cashback alone until the end of the month is $7800. Finance different story and ignore my post). See my post in the Alberta section. As far as Z06 17K off is advertized now at a local dealer...... (same thread) I know you can get close to 20% off the base if serious with Cash!!..... agree 100% check across the country.......
 
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frankmp said:
a base C7 is 70K so $9 K off is 61K or a paltry 13% off msrp......... easy to top that now. ( Im assuming for a cash deal as cashback alone until the end of the month is $7800. Finance different story and ignore my post). See my post in the Alberta section. As far as Z06 17K off is advertized now at a local dealer...... (same thread) I know you can get close to 20% off the base if serious with Cash!!..... agree 100% check across the country.......
Click to expand...

I've been doing a lot of reading. Yes I've changed my expectation from a used C7 to a new one. While I would love a Z06 even with the big discount, it's completely outside my budget. So realistically i'm staying in Stingray waters. I can see from nationwide search that the incentives are for cash...so I have to save up the extra money since the amount i was going to spend just got bigger. I thought perhaps I could pay the cash I have now and finance the remaining 20k (not forgetting tax and documentation fees) but any financing loses the cash discount.

For a while I was tempted to try to forego discount and attempt to get zero percent financing with a 20k down payment and put the rest of the savings into something that generates interest. But I like being debt free...even the thought of putting this saved money on a depreciating fun asset still hurts. LOL. Choices choices. I think I will pull the trigger when i can buy it out.
 
tyho said:
Historically every time a new model comes out, the price of the existing model tend to drop. In this case with the ZR1 (which I guess will be around the $150,000 mark and may be quite limited in availability to keep the price up) may cause the current C7 to hold its value. The Zora, or whatever GM will name the car, may be at or higher in price, again, this may cause the C7 to hold its value. Over the years, the value may decrease (short term) , then slowly increase. I may not be around by then, so I really don't care what they sell for. Simply look at the values of the previous generation vettes and they will tell the story. Short term, prices will drop as buyers speculate and wait on the new C8. My 21/2 cents:)
Click to expand...

This is a good post. Sums it all up quite well.
Agreed :p
 
And a manual transmission to boot. Was set to order then I saw the Scotia Bank card deal, I don't need another credit card.:Biggrin:
 
gymrat999 said:
I've been looking on Autotrader at used Stingrays and i find it interesting that they are holding on to their value really well in dealerships....to the point of not buying the 2015 2LT one i was looking at as the dealer wanted $67,000 for it and I discovered I can get a brand new base stingray for $69,000.

It just doesn't make sense to buy used to me. Am I missing something? I'm keeping my eyes open for now as it's there's no rush so I will probably order by december as a Christmas gift to myself if I don't come across something. I'm hoping maybe that $9,000 discount announced in the US will trickle down to the inventory left here (fingers crossed) and get a deal rather than wait.

Is anyone else facing a similar situation of order for next year or buy now? or wait...??
Click to expand...
I do not think the C7 will hold it's value very well because: here in Vancouver Duecks had them on sale (all models) for up to $9,000.00 off MRSP. They are a really big corvette dealer here. My car has probably lost a lot of value because of these discounts. (2016 C7 vert)
 
Rruuff Day said:
When the manufacture of front engine Corvettes is history, we will see how our cars hold value....:thumbs:
Click to expand...

Its all going to come down to the C8 pricing. Depends where the low end C8 comes in for price and what is actually offered as opposed to a low KM loaded C7....

Should be a win for some and kick in the nads for others I suppose.... :Biggrin:
 
ddgermann said:
Its all going to come down to the C8 pricing. Depends where the low end C8 comes in for price and what is actually offered as opposed to a low KM loaded C7....
Click to expand...

JMO Derek but I'm betting there will be a significant cross section of population that, C8 mid engine or not, will still prefer the front engine / RWD. It may take a while, but when they realize it's gone forever, they will want it even more.
 
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