Major used C8 price drop

[Rkurtz]

I’ve been waiting a long time to see a used C8 under $100k. Still over MSRP which is amazing considering that it’s almost 4 years old. The picture is the first used one I found under $100K in Canada. 2020 2LT with 11,000 kms. Will be interesting to see if prices go up in spring or if the slow decline continues. I’m sure there will be good demand for C8’s all the way down the price curve. Wonder when we will see a used C8 under MSRP?

 

[DenisC8]

I’ve been waiting a long time to see a used C8 under $100k. Still over MSRP which is amazing considering that it’s almost 4 years old. The picture is the first used one I found under $100K in Canada. 2020 2LT with 11,000 kms. Will be interesting to see if prices go up in spring or if the slow decline continues. I’m sure there will be good demand for C8’s all the way down the price curve. Wonder when we will see a used C8 under MSRP?

I saw that one also, that car's MSRP was around $80,000 in 2020 and it is being sold for $99,988 so still $20,000 over MSRP after 4 years and 11,000km. With that said, I think its reasonable, too bad its missing NPP Exhaust option.

 

[Bizbiz911]

The price of the car when new was $95,733 as per the window sheet.
At $126K it is still more than $30k over the original price for a car which is 2 years old.

 

[Rkurtz]

While Canadian used C8 prices are down a bit, they are still well above MSRP and 4 model years on you can still sell a 2020 C8 for more than the original price. It is amazing the premium has held up for close to 4 years. Just hoping that my 2022 is still worth more than MSRP after 4 years, at which time I might actually get my hands on a Z06.

GM is now cranking out C8's at a good production volume - 9,130 cars delivered in 2022 Q4 and they still had some production hiccups in the quarter. If they can keep that up, as well as integrating Z06 production at a reasonable pace, they should crank out around 35,000 C8's in 2023 which would be back to the volumes they used to do. Hopefully better times ahead for those on C8 wait lists.

Good to see the strong production numbers for 2022 Q4. Remember that in 1979 GM produced over 53,000 C3's and in 1984 over 51,000 C4's. I'm sure they would like to get to those production numbers again if they could.

 

[Rkurtz]

The price of the car when new was $95,733 as per the window sheet.
At $126K it is still more than $30k over the original price for a car which is 2 years old.

View attachment 104383

I agree, most used C8's are still $20 to 30K above MSRP. One thing to keep in mind is that in most provinces you have to add 11 to 15% for PST + GST plus any dealer admin fees to MSRP to get the actual cost of the car paid by the original purchaser. In your example the MSRP is $95,733 plus 13% HST in Ontario so the owner would have paid at least $108,178 for the car. At $126K it is still $18K above total cost. Prices still have a long way to fall before used C8's sell for less than the total cost of a new one.

 

[Rooster96]

Also worth mentioning that the new msrp continues to rise.
Built a ‘23 on line optioned the same as my ‘22 and the price is up almost $9k… oh and you still can’t get one.
That helps keep the used prices up.

 

[DenisC8]

I’ve been waiting a long time to see a used C8 under $100k. Still over MSRP which is amazing considering that it’s almost 4 years old. The picture is the first used one I found under $100K in Canada. 2020 2LT with 11,000 kms. Will be interesting to see if prices go up in spring or if the slow decline continues. I’m sure there will be good demand for C8’s all the way down the price curve. Wonder when we will see a used C8 under MSRP?

I saw that one also, that car's MSRP was around $80,000 in 2020 and it is being sold for $99,988 so still $20,000 over MSRP after 4 years and 11,000km. With that said, I think its reasonable, too bad its missing NPP Exhaust option.

looks like that car sold being priced 20k over original MSRP in the middle of winter

 

[larryd]

don`t care what they say. I`m still keeping mine.

 

[scraze66]

At one point, Platinum Cars was buying up any available C8 at asking price when it was hot. Now that the market has cooled off some what, they are stuck with some vehicles which never sold. They can discount the car $10,000 and still make money from finance kick back, fees, and warranties. Last resort would be to export it to the US and still make money. Win win situation for dealers during these times.

 

[MY21C8]

looks like that car sold being priced 20k over original MSRP in the middle of winter
View attachment 104930

Looks like its gone up $10k

 

[DenisC8]

Looks like its gone up $10k

That is not the same car, different interior, different lip and different dealership

 

[DenisC8]

I have been following this car since this past June. It was traded in by "a friend" for a newer C8 at the end of May, then had a Z51 spoiler and black wheels installed, then went to Platinum Cars for resale. In June the Platinum price was $138,900. the price has been gradually dropping since then. Get a load of today's price...

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price dropped by $3000 to $123,800

 

[Sid]

price dropped by $3000 to $123,800

Price down to 119,800 (so another 4,000 drop) as of Feb 4th.

 

[DenisC8]

I just did a bit of research: Platinum Cars has 20 C8 Corvettes for sale right now, and they have decreased prices on 5 of them from $3,000 to $5,000.

 

[butsy]

I just did a bit of research: Platinum Cars has 20 C8 Corvettes for sale right now, and they have decreased prices on 5 of them from $3,000 to $5,000.

i got to assume these cars are all over MSRP asking price, otherwise they probably wouldn't have 1 on their Lot?? I hope they sit there forever until they drop to MSRP....Another example of Corporate Greed at its finest!!

 

[Jack Raccoon!]

Used cars dealer...

 

[Cam_rabbits]

I think price will go up in spring.

 

[DenisC8]

I think price will go up in spring.

their prices have always been high compared to others, but now 2 of their C8 2LT HTCs are the cheapest on autotrader at $119,800

 

[Jack Raccoon!]

Ok, we will time stamp your prediction and revisit the topic mid May...

I think price will go up in spring.

 

[Thom]

Don't know if I mentioned it but the original trade in to the dealer (who then wholesaled to Platinum) was for $120K. So Platinum is now under water with it.