Used Market definitely slowing down

[PapaSmurf]

Just thought I'd post this for those looking to sell or buy a C8.

I traded my 2020 1LT coupe in two months ago and received $95,000 trade in value. I was surprised at the time as mine was the highest mileage C8 I had seen for sale in Canada with 36,000kms.

The dealer originally posted it for $109,000.

I figured it had long since been sold but I checked today and its still on their website for sale with the price lowered to $100k.

Looks like the values are coming back down to earth for C8's finally after 4 model years of crazy prices.

 

[DenisC8]

it’s true, but your old car is also the highest mileage car and a 1LT which most buyers are avoiding.

 

[Jack Raccoon!]

And, you know, it's orange...

 

[PapaSmurf]

it’s true, but your old car is also the highest mileage car and a 1LT which most buyers are avoiding.

Looks like they messed up giving me so much for the trade. It does have Z51 and Mag ride so maybe it makes up a bit for the 1LT?

 

[DenisC8]

Looks like they messed up giving me so much for the trade. It does have Z51 and Mag ride so maybe it makes up a bit for the 1LT?

z51 and mag ride sure does make up for 1lt, but used C8 buyers what a 3lt for the price of 1lt

 

[Jack Raccoon!]

Prima Donna's...

 

[RedVette70]

As of this morning, there are 386 C8’s on AutoTrader (and probably a few more that are on dealer sites). Prices are bound to get soft.

 

[PapaSmurf]

z51 and mag ride sure does make up for 1lt, but used C8 buyers what a 3lt for the price of 1lt

And I'd like a toilet made out of solid gold but sometimes its just not in the cards. lol

 

[Murray20c8]

As of this morning, there are 386 C8’s on AutoTrader (and probably a few more that are on dealer sites). Prices are bound to get soft.

Don't forget that most of those are likely sold orders on dealers lots which are linked to AutoTraders site.

 

[DenisC8]

As of this morning, there are 386 C8’s on AutoTrader (and probably a few more that are on dealer sites). Prices are bound to get soft.

If we eliminate new sold orders there are 344

 

[VroomVroom]

it’s true, but your old car is also the highest mileage car and a 1LT which most buyers are avoiding.

I didn’t think resale value of 1LT would be that much worse over the 2LT.

 

[Murray20c8]

If we eliminate new sold orders there are 344

How do you know? Are they private sales?

 

[canadianvetster]

3LT PLUS Z51 sell fast

 

[DenisC8]

How do you know? Are they private sales?

because they are marked new and the sales price is MSRP

On the positive note there are 4 coupes for sale for sub-$100K

 

[SONSH1NE]

May take some slack on this one. However here it goes...lol. Watched a video on Cars and Crosbie where he went off on how guys are buying cars, sometimes with the same trim features and turning around and selling them for a profit. He states that the C8 market is saturated and karma is going to get them when they can't sell them. Today I see on Autotrader that he is once again selling his C8 for 130 grand... oh and as a pass through so he gets a savings on the tax! I just find this so hypocritical! I myself will be hanging onto our C8 for many years and didn't buy the car for anything other than making our dream happen and enjoying a great car! What someone else does with their car is up to them. Enjoy !

 

[Murray20c8]

I myself will be hanging onto our C8 for many years and didn't buy the car for anything other than making our dream happen and enjoying a great car! What someone else does with their car is up to them. Enjoy !

Same with us. Wife keeps telling me we should buy a second! LOL

 

[RC Mike]

I had 2022 coupe that I just traded at my one year deadline and my build for my HTC which I ordered two years ago will built on Aug 11 the day as Scott's and hopefully it ships quick. The one I traded kind of fell into my lap and I had it in 8 months. So I did quite well on the deal and the only reason I decided to go with the HTC over the coupe was the lack of space with the top in the trunk. I an first on the list at two dealers for the ERay and I think that will be the one I will keep. There was one Z06 at Munro Motors for 280 grand that did sell and the used prices are still high and the C7 prices used are the same as if they ere new. I am not a rich man but I did pay cash for mine but I would never pay the amounts they are asking but to the guys who just retired and don't want to wait 2-3 years for the build I don't blame them for paying over MSRP. For the most part for the GM dealers in my area are not screwing us for 30 thousand over like too many dealer. JMO I have owned way too any cars according to my wife but bang for the buck nothing touches this car. I had both new and original NSX's and they were beautiful cars but the C8 wins for me every time. I sure we all have a different opinion that's just mine. Enjoy them all while you have them

 

[Cannonball Rally]

I find it quite interesting to say the least when it comes to all the reasons why we buy or sell our cherished toys.

I agree the market is adjusting, but so is the reach of the C8 globally too!

With this will come new markets and likely less allocation for Canadian dealers too! I believe that even with production increases GM's ability to keep up to a new global demand will change our ability to order and likely enhance our own C8 market in years to come.

I hope to enjoy my C8 for many years to come. I likely won't put more then 2500 km per year on it if that but I will be all smiles when I do drive it. We all have our own reasons to drive or not drive but down the road when the time comes whoever does purchase my car will be rewarded with a well looked after vehicle.

Current model high mileage units are typically a tougher sell to a true enthusiast. It's understandable why..

 

[DenisC8]

I find it quite interesting to say the least when it comes to all the reasons why we buy or sell our cherished toys.

I agree the market is adjusting, but so is the reach of the C8 globally too!

With this will come new markets and likely less allocation for Canadian dealers too! I believe that even with production increases GM's ability to keep up to a new global demand will change our ability to order and likely enhance our own C8 market in years to come.

I hope to enjoy my C8 for many years to come. I likely won't put more then 2500 km per year on it if that but I will be all smiles when I do drive it. We all have our own reasons to drive or not drive but down the road when the time comes whoever does purchase my car will be rewarded with a well looked after vehicle.

Current model high mileage units are typically a tougher sell to a true enthusiast. It's understandable why..

Canadian production of C8 Stingray has peaked in 2023 and is all down hill from here. The used prices will be stable for years to come.
I think true enthusiasts will also pick a higher mileage 3LT HTC with Z51 and Mag ride over a low mileage 1LT coupe.

 

[amit916]

The thing that mostly stopped me from getting a used C8 was a lot of the used market when I looked was 1LT, and even the 2LT's didn't have the upgraded seats I wanted nor were they convertible. At this price range, I just wanted to make sure I got exactly what I wanted.

Edit: And that sweet sweet (probably toxic) new car smell.