I put my deposit on the list on September 30, 2021.
E-Ray OFFICIAL LIST of who is on the list? who is staying? who is dropping?
- Thread starter DenisC8
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Respectfully disagree. When the hype is all about the C9 debut in whatever year, it will just like the last year of the C7. Dealers will be ordering and they will be stocking multiples of the last C8's trying to support their allocation positions for the upcoming C9's. History always repeats itself. $110,000 dollar C7 Z06's, new on the lot could be bought from mid to late 2019 for $20,000 under MSRP all over the place.
Agreed and I think we may see this much sooner than the last year of C8 production (2028?). Almost all car buyers, and I imagine to a lesser degree Corvette buyers (at least those not of retirement age), buy on some sort of credit. Whether direct credit on a car loan or a line of credit on their house etc. Well, unlike 12 months ago, you can't borrow money now at 1% or 0%. It's now 7%, and it just went up another 0.25% today. So all those people who could barely make their mortgage/car payment/credit card/line of credit/mortgage on second "investment" property/payment on their sports car, will be mathematically forced to drop one or more of those things. And from what I read and my personal observation, most people are leveraged to the hilt.
Here is an actual observation: Someone I know cannot mathematically make more than 60k/yr, and her husband likely makes around the same. Yet, her daily driver is a 100k SUV. Her other brand new vehicle (60k) is parked at her vacation home in the US. She lives in a 4000sf/3 car garage home. This is only possible because of sharply rising home prices (house was relatively cheap to buy - 600k at the time now 1.8m, now have lots of equity to borrow against), and virtually free money (close to 0% borrowing rates). Well, money isn't even close to free anymore. Your $500/month home equity interest is now more like $5,000/month.
The first thing to go is toys (boats, motorcycles, Corvettes...). The wholesale price of used cars is crashing hard as we speak and the tides are turning against dealers. When I was growing up in the 80's and 90's, only people who were actually wealthy (top 1%) had big houses with BMW's in the driveway. That is because it actually cost a lot of money to borrow money at that time so you actually had to have money in the bank to buy things. In the last 10 years with 0% interest, everybody including the garbage man and the hair dresser lives in a 3000sf house and drives a BMW. Well, money isn't free anymore and history repeats itself.
Maybe I'm just foolishly hoping that those of us who were responsible will be able to buy a C8 in position where the buyers have the advantage, like most points in history and unlike the last couple of years of near zero supply and free money...
I know one thing - lots of people are going to cancel plans to buy toys in the coming couple of years and you will be able to buy boats/atv's/sports cars at a discount. I just don't know how that will affect the new C8 Corvette buyer demographic in particular.
Agree. We saw it in Alberta and those in the know with any brains at all know about the boom and bust frequency here due to the oil prices. The year is 2013. Westerners, especially high schoolers, quit school at grade 10 and took $160k jobs in the oil industry, moved to Fort Mac, bought new Diesel 4x4's, boats, side by sides, ATV's and snowmobiles. Most also bought high end houses and spent every left over dollar they going to the bar. They lost everything by early 2016 after their unemployment insurance ran out and instead of taking a $20 an hour menial job because they were too good for that wage, they either crawled back to their parents, lived on a couch with a friend, lived on the streets and/or turned to drugs and crime to survive. Sad but true. Six long years before the oil industry recovered any. When I came to Alberta in 1979, the common bumper sticker read "Please God. Let their be another oil boom. I promise not to piss it all away this time". Not many paid heed to that. Again, history repeats.
Bingo! Early winter of 2020 bought my 2019 GS Convertible for $20+k under msrp. Dealer had 20 Corvettes in stock with the new C8’s starting to roll in. Sold the car 15 thousand kms and 3 years later for way more than I paid. This will happen again. It may be already happening.
AxeZ06
Power User
When I got there in '80, during the economic collapse in Ont, the t-shirts and bumper stickers were saying:
"GO EAST YOUNG MAN
and take a couple buddies with ya".
(it took me 13 months to see the light, and take heed of their advice)
Yup. The era of the infamous 'Bums and Scums' sung to the Beverly Hillbillies theme'. 4000 easterners per month were flocking to Alberta only to find that the boom had ended. No job and no place to live without money, and most barely had enough money to get here, let alone get back. Crime hit an all time high. When I came cross Canada in 1980, I had a job with an engineering consulting company and a place to live waiting for me and 37 years later retired from that company. Stayed away from the oil industry and did fine. Damn glad I stayed.
I remember 1984. Oil hit $4 a barrel. Houses were being repo'd at historic rates. People in Calgary were just walking away from, at the time, very expensive properties. We were living in Sylvan Lake then and thankfully my employment was not related to the patch either.
It took a while (and Ralph) for the province to get back on track and out of debt. Shame we may never see that again.
AxeZ06
Power User
Thanks for the Bums & Scums video. I'd never heard that one.
We did 2.5 months in Victoria. The ex went weeks before me, and got work nursing immediately. I didn't find anything productive, it rained everyday, so off to Edmonton it was (several friends were already there). She got work right away (earning rediculous money) with an eye surgeon. I started right off in graphic design / sign making, making about 50X what I was worth (boss/owner had Oilers season tickets but didn't like hockey....I did). Other than smoking some weed, we broke no laws.
Too much winter, and my job recall back here brought us "home", 13 months later.
No regrets at all (except for this thread derail......sorry).
No worries. By the time members will get their Erays, this thread will go south many more times.
Nov. 2021 with Brian Cullens
March 2022 on list
I Hope to add my name to this list as soon as I get the call to purchase my SR and figure out if my current dealers in ON (or any other) will open up their list for me to add my name
July 2021 - Brian Cullen
Tempted to say almost all of them, but the major ones in ON for sure. The problem is that back when it was just the SR, and the Z06 was but a dream, and any other variation was unknown, most dealers (probably 95% of them) maintained 2 lists, a SR list and an everything else other than the SR list. This mixed in the Z06, E-Ray, ZR1 and Zora folks all together. The dealers simply did not know how future allocations for these models would be handled.
Fast forward to today, and I think the dealers are about to find out, and what I am hoping will happen (key word hoping), is that GM allocates separately between the E-Ray and Z06, meaning they do not have to pick between one or the other on a non SR allocation. And if that happens, then hopefully (there is that word again), the dealers will take the time to call everyone on their non SR list, and ask them which model they want, and split out the Z06 folks from the E-Ray folks, which will make things a little easier for everyone, and give people their actual spot on the list (instead of being say #100 on a mixed list, could be #30 on an E-Ray list).
To answer your question, the answer is quite obvious. Too many people were interested in the Z06, and when the rumours started become believable, and some of the info confirmed as fact, that interest only increased the desire for the car, so more people piled onto the non SR lists. Those dealers then sat back and did some math, and said if I am only going to get 1-2 allocations for this car a month, at best, and I already have 50-100 people on my non SR list already, there is no way I am going to be able to deliver this car to someone after a period of 4-8 years to the people at the bottom of that list, so why continue to take deposits if the dealer cannot deliver the car in a reasonable timeframe. So most of the dealers (I say most but could be many), have CLOSED their non SR (Z06/E-Ray/...) lists, one cannot add their name to it any longer.
I can confirm the above as fact, as the dealers I am dealing with both have closed lists. Perhaps I may try to convince one of them to still add my name to their list, with the hope that they will get my upcoming (new) SR as a trade-in to add to their marked-up inventory to make some good cash off of it. So there may be some incentive for them to do me the favour (I hope). I am also hoping at some future point, the SR holds it's value, and my SR trade-in will yield a decent enough return to make the higher cost of the E-Ray a little more palatable .
So long story short, if most people think you can just walk into a dealer and drop some cash down for an E-Ray on some accessible open list, they are dreaming, unless you live in a small town with a small dealer who gets 3-5 of these specialized models a year, in which case you will be #x of 10 and will wait maybe 2-3 years instead of 3-5. Yet for all the major dealers I know of in ON, and likely most in QC, closed lists. If I am wrong, please let me know so I am informed as to where I should be targeting my future E-Ray deposit
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I have never been on a list. Have a 2023 and paid msrp. There is a lot of over thinking and high blood pressure happening regarding this buying a Corvette thing. I didn't sleep for seconds worrying whether it was torch red, red mist, spectacular blue, or just vanilla white. Life is too short for these machinations.Tempted to say almost all of them, but the major ones in ON for sure. The problem is that back when it was just the SR, and the Z06 was but a dream, and any other variation was unknown, most dealers (probably 95% of them) maintained 2 lists, a SR list and an everything else other than the SR list. This mixed in the Z06, E-Ray, ZR1 and Zora folks all together. The dealers simply did not know how future allocations for these models would be handled.
Fast forward to today, and I think the dealers are about to find out, and what I am hoping will happen (key word hoping), is that GM allocates separately between the E-Ray and Z06, meaning they do not have to pick between one or the other on a non SR allocation. And if that happens, then hopefully (there is that word again), the dealers will take the time to call everyone on their non SR list, and ask them which model they want, and split out the Z06 folks from the E-Ray folks, which will make things a little easier for everyone, and give people their actual spot on the list (instead of being say #100 on a mixed list, could be #30 on an E-Ray list).
To answer your question, the answer is quite obvious. Too many people were interested in the Z06, and when the rumours started become believable, and some of the info confirmed as fact, that interest only increased the desire for the car, so more people piled onto the non SR lists. Those dealers then sat back and did some math, and said if I am only going to get 1-2 allocations for this car a month, at best, and I already have 50-100 people on my non SR list already, there is no way I am going to be able to deliver this car to someone after a period of 4-8 years to the people at the bottom of that list, so why continue to take deposits if the dealer cannot deliver the car in a reasonable timeframe. So most of the dealers (I say most but could be many), have CLOSED their non SR (Z06/E-Ray/...) lists, one cannot add their name to it any longer.
I can confirm the above as fact, as the dealers I am dealing with both have closed lists. Perhaps I may try to convince one of them to still add my name to their list, with the hope that they will get my upcoming (new) SR as a trade-in to add to their marked-up inventory to make some good cash off of it. So there may be some incentive for them to do me the favour (I hope). I am also hoping at some future point, the SR holds it's value, and my SR trade-in will yield a decent enough return to make the higher cost of the E-Ray a little more palatable .
So long story short, if most people think you can just walk into a dealer and drop some cash down for an E-Ray on some accessible open list, they are dreaming, unless you live in a small town with a small dealer who gets 3-5 of these specialized models a year, in which case you will be #x of 10 and will wait maybe 2-3 years instead of 3-5. Yet for all the major dealers I know of in ON, and likely most in QC, closed lists. If I am wrong, please let me know so I am informed as to where I should be targeting my future E-Ray deposit
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