My C8 has finally come in after a 2.5 year wait. When it was built in September, dealer said they would give me $59,000 on my C7 trade-in (2017 2LT Z51 M7 27,000Km). Today, when they send me the bill of sale, they drop the trade-in value to $52.000. I'm in shock, looking at Autotrader, the cheapest similar model is $67,000. In September, I was offered $65,000 on a trade-in on a 2023 from a dealer in Edmonton. Thoughts?
Trade in on C7 for C8
- Thread starter GCrone
- Start date
A year ago things was much different and trade in values were very high, they have a slowly declined over the year, also being Winter add to some of the decline.
You will also notice that the C8's on Auto Trader has fallen , unfortunately that doesn't help you because you are purchasing new from the Dealer. You are faced with a steep drop, trying to sell it privately may be an option but if that happen to extend to the Summer who knows where the prices will be.
You will also notice that the C8's on Auto Trader has fallen , unfortunately that doesn't help you because you are purchasing new from the Dealer. You are faced with a steep drop, trying to sell it privately may be an option but if that happen to extend to the Summer who knows where the prices will be.
Seasonal value changes and dealer profit seems ok to me.
You can always sell it yourself right.
enjoy your new ride
You can always sell it yourself right.
enjoy your new ride
Used car values have plummeted in the last 60 days. $52k doesn’t sound that terrible once you take into consideration the tax savings.
Buying the 2023 out of Edmonton and having it shipped to you in Quebec in an enclosed carrier would have been the best option but perhaps that car didn't match what you wanted at the time. I didn't wait when I had an opportunity to order all of the options I wanted on a late 2023.
Sports car value do get a hit during winter months. It is simply demand and supply. I am in the same boat but I do not have a c7 to trade in but a Bronco. The dealer offered me an amount that i like and i hope it stays that way.
Agree about the timing not being ideal for the demand/supply situation. Sports car season is looking just about over for the year.
So, you bite the bullet and take their best number and move on, or if you've got the option ($$$) of keeping both cars until March 2024, you might get a better number selling the C7 privately then, as the weather refreshes the demand.
Not an easy decision either way. Good luck.
So, you bite the bullet and take their best number and move on, or if you've got the option ($$$) of keeping both cars until March 2024, you might get a better number selling the C7 privately then, as the weather refreshes the demand.
Not an easy decision either way. Good luck.
Just to give you an idea, I got 52 000$ as a trade in for my 2019 1lt non z51 with 36 000KM. I tried to sell it privately via Trader and Kijiji and I only got scammers that contacted me. It's most likely the worst time of the year to trade in a Corvette.
I was told by my sales agent that my car was sold via auction to someone in the US and was leaving the very next day after I took delivery of my C8. But look what's on sale on the dealer website for 63 000$...it's my used car. So they made full profit on the C8 and now trying to make some more on the C7. Will it sell at that price?...most likely not but I am pretty sure they will try to make a good 5K with it.
https://www.taylorautomall.com/inve...r-seats-467-bw-rwd-2dr-car-1g1yb2d77k5118237/
Profit is not a bad thing.
you accepted the deal.
im sorry but I do not see the issue here.
you accepted the deal.
im sorry but I do not see the issue here.
DenisC8
Power User
so they decreased your trade by $7K and you are paying extra $12K for a 2024 model year. If Edmonton deal for a 2023 at MSRP is still on the table I would seriously consider it
Because they “renegotiated” your trade, they should return your deposit if you walk away
Used car prices are so volatile right now very few dealers will commit to a firm trade in number until the new unit is on ground and ready to deliver. I was talking to my GM dealer buddy a few days ago and he said he had a deal on new Yukon Denali where the guy was trading in his 22 and the trade value has dropped $8K since the 24 was ordered a few months ago.
If I was the guy with the Bronco, I would be bracing myself for the same thing to happen. I sold my wifes 22 Bronco in the spring for $64K (top of the market) and just watched the twin to it sell yesterday at Adesa Brampton for $48K. The used car market is dropping so fast, no one can react fast enough. I ordered my wife a new Highlander Hybrid last Feb (ETA is April/24 - LOL) and my bill of sale clearly states "Trade in value is an estimate only. All trades will be re-appraised at time of delivery".
In this market, new car dealers are totally OK to hang onto the new vehicle and let the customer walk if the alternative is to bury yourself in a trade in.
I bought a 2022 C8 Z51 3LT in October 2021 and traded in my 2016 C7 convertible with 20K on it - $60K trade-in. C8 are going for less now in the used car market. I say: take it and enjoy the C8! Your C7 is a M - so, maybe a bigger demand? I don't know? See if they will go half way? No matter which way you slice it, you are not paying that much when all is said and done.
.,
Man your balls must hurt! I have watched your name on the list since day one since both you and I went on the list at the same dealer at the exact same time. Luckily I also went on another dealer list and was able to get an allocation a year ago with the car delivered last March. During that time I have watched you get kicked in the balls for over 2 years waiting on an allocation that took way too long, Luxury taxed on a deposit from Sept 2021 because they did not have you submit an order, 2024 price jump, car sitting months waiting to be delivered, and now offered less for your trade in at time of delivery. Someone get @GCrone some ice!
Not only that but one of the forum members who put his deposit down at BC after me got a June allocation with the 2023 prices!
Should have given your car to them in September. Used prices are coming down a bit and this is the worst time to sell a sports car.
Well 2024's went up by $12K and add in HST and Lux tax that's $16K and then trade went from $65K to $52K plus tax so overall about $30K more!
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