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Corvette
C7 Forum
C7 RETAINED VALUE
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<blockquote data-quote="flyboy999" data-source="post: 146527" data-attributes="member: 2330"><p>I've said it before, I think the practicality of the C7 will be the difference maker. The typical Corvette buyer, I would suggest, is on the "mature side", as the stereotype goes. We are middle aged men...............yes.....it's true. People like us consider things like practicality when making a purchase. Of course, it probably isn't the most important factor, but it is definitely a factor. Given the incredible performance of my C7 Z06/07 I find it hard to believe that the first iteration of the C8 is going to provide a marked increase in performance, and definitely not practicality, sufficient to warrant kicking my Z06/07 to the curb. I would say that probably goes for base, GS, and definitely ZR1 owners as well. </p><p></p><p>So why buy a C8? Because it's the latest greatest thing? Sure, but will that be enough for the "mature owners" of C7s to ditch the practicality and performance of the C7 for a massive loan payment, or massive loss with respect to their C7 investment? Uhhhh....doubtful. The C8 marks a dramatic departure from the formula that's made the Corvette "America's Sports Car". Not only are there devout Corvette owners that believe a Corvette should be a front engine rear wheel drive car, there is the fact that the C8 isn't going to be cheap. I've said this before as well. Anyone who thinks the new C8 base model is going to sell for less than $90K-$100K here in Canada will be in for a surprise. Who has that kind of money to throw down on a less practical, unproven, toy???? Who wants to buy the first generation of anything???? Typically not the best move. So, when I can drive my C7 Z06/07 throughout the entire winter here in Saskatchewan on snow and ice covered roads without any trouble, load 9+ bags of groceries into it without blinking an eye, crush pretty much anything with four wheels in the Summer, the car has been bulletproof dead reliable, and I don't feel like getting a new loan, where's the incentive for the purchase of the C8? I'm not worried about C7 depreciation........ Also, as the price of the Corvette rises, which in my opinion is inevitable, it starts finding itself in competition with other cars for your money. Since they stopped producing my Viper, which wasn't much of a threat to begin with, the Corvette has been enjoying a monopoly on the North American two seater sports car market. Now, moving to mid-engined, more expensive cars like Ferrari, Lamborghini, McLaren, etc. are in the mix. A lot of the depreciation of the C7 will depend on how the C8 sells, and quite honestly, for all the reasons I've mentioned, I'm not convinced the C8 will be flying off the showroom floors, at least not in the first year.</p></blockquote><p></p>
[QUOTE="flyboy999, post: 146527, member: 2330"] I've said it before, I think the practicality of the C7 will be the difference maker. The typical Corvette buyer, I would suggest, is on the "mature side", as the stereotype goes. We are middle aged men...............yes.....it's true. People like us consider things like practicality when making a purchase. Of course, it probably isn't the most important factor, but it is definitely a factor. Given the incredible performance of my C7 Z06/07 I find it hard to believe that the first iteration of the C8 is going to provide a marked increase in performance, and definitely not practicality, sufficient to warrant kicking my Z06/07 to the curb. I would say that probably goes for base, GS, and definitely ZR1 owners as well. So why buy a C8? Because it's the latest greatest thing? Sure, but will that be enough for the "mature owners" of C7s to ditch the practicality and performance of the C7 for a massive loan payment, or massive loss with respect to their C7 investment? Uhhhh....doubtful. The C8 marks a dramatic departure from the formula that's made the Corvette "America's Sports Car". Not only are there devout Corvette owners that believe a Corvette should be a front engine rear wheel drive car, there is the fact that the C8 isn't going to be cheap. I've said this before as well. Anyone who thinks the new C8 base model is going to sell for less than $90K-$100K here in Canada will be in for a surprise. Who has that kind of money to throw down on a less practical, unproven, toy???? Who wants to buy the first generation of anything???? Typically not the best move. So, when I can drive my C7 Z06/07 throughout the entire winter here in Saskatchewan on snow and ice covered roads without any trouble, load 9+ bags of groceries into it without blinking an eye, crush pretty much anything with four wheels in the Summer, the car has been bulletproof dead reliable, and I don't feel like getting a new loan, where's the incentive for the purchase of the C8? I'm not worried about C7 depreciation........ Also, as the price of the Corvette rises, which in my opinion is inevitable, it starts finding itself in competition with other cars for your money. Since they stopped producing my Viper, which wasn't much of a threat to begin with, the Corvette has been enjoying a monopoly on the North American two seater sports car market. Now, moving to mid-engined, more expensive cars like Ferrari, Lamborghini, McLaren, etc. are in the mix. A lot of the depreciation of the C7 will depend on how the C8 sells, and quite honestly, for all the reasons I've mentioned, I'm not convinced the C8 will be flying off the showroom floors, at least not in the first year. [/QUOTE]
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