Used Market definitely slowing down

[Cannonball Rally]

I think any vehicle north of $ 75 k should be exactly as you wanted it. Every vehicle I have owned , even when new were ordered and spec'd by someone else. This was my first ordered precisely as I dreamt car for personal use. Was it worth it - definitely! If you can wait then my suggestion is order it exactly as you want. Challenge will be wait times, cost as they are not going down, and of course if financing what rate it will be once it finally does arrive. Good news is more time to put extra cash away if need be.... I paid MSRP for mine and do not regret it one bit.

 

[Murray20c8]

I paid MSRP for mine and do not regret it one bit.

I seriously doubt anyone, other than the dealer themselves, paid less than MSRP!

 

[CamsC8]

The market has definitely softened for C8s as its now going onto its 5th model year in September with 2023 soon to set an all time Corvette production record.

I know dealers are paying below MSRP so the easy flip days are now disappearing unless its a Z06 (even with these we see premiums starting to fall in the US).

 

[Bunny hop]

Canada, is also getting more deliveries of the new 2023 C8 , which will make the used ones go down in price. The easier it gets , less wait times, prices are bound to drop.

 

[DenisC8]

Canada, is also getting more deliveries of the new 2023 C8 , which will make the used ones go down in price. The easier it gets , less wait times, prices are bound to drop.

Yes but 2024 will be short production year of 9-10 months and will have low Stingray allocations due to E-Ray and Z06 production

 

[Bunny hop]

Yes but 2024 will be short production year of 9-10 months and will have low Stingray allocations due to E-Ray and Z06 production

Oh, ok, so that should keep the prices up, on the Stingray , for now, or maybe lots of Stingray buyers will start switching to those Vettes. Only time will tell, I guess.

 

[CamsC8]

I know dealers are paying well below MSRP now for Stingrays and there's a record number showing on Autotrader...the market has swung.

Perhaps now we'll start to see C8s on lots

 

[DW Ruby]

I'm not sure which dropped faster - the value of my Corvette, or the last good 'hunch' I was given on the stock market.
Such is life.
With the used C8's now at a reduced 'value', I'm wondering how many new Stingrays, E-Rays, and Z06s on present 'lists' this will free up.
For a lot of buyers, I'm sure that receiving $20,000.00 less on their trade-in, on top of a new one costing more already, will cause the decision to be delayed, or set aside.
While I certainly don't like taking a financial 'hit' any more than anyone else, in the grand scheme of things I'll chalk it up to poor timing (or blame my Wife).
If an E-Ray (or Z06) allocation becomes available, I'm still on it like a fat kid on smarties, regardless of the present 'value' of my Stingray.
I do feel bad for anyone caught in this situation, but, if it gets that E-Ray in my garage earlier, I think I'll get over it.

 

[KTJF]

I'm not sure which dropped faster - the value of my Corvette, or the last good 'hunch' I was given on the stock market.
Such is life.
With the used C8's now at a reduced 'value', I'm wondering how many new Stingrays, E-Rays, and Z06s on present 'lists' this will free up.
For a lot of buyers, I'm sure that receiving $20,000.00 less on their trade-in, on top of a new one costing more already, will cause the decision to be delayed, or set aside.
While I certainly don't like taking a financial 'hit' any more than anyone else, in the grand scheme of things I'll chalk it up to poor timing (or blame my Wife).
If an E-Ray (or Z06) allocation becomes available, I'm still on it like a fat kid on smarties, regardless of the present 'value' of my Stingray.
I do feel bad for anyone caught in this situation, but, if it gets that E-Ray in my garage earlier, I think I'll get over it.

Valid point, it may move up a lot of buyers on dealers list with some passing their turn due to lower trade in and high interest rates. Big plus for first time buyers.

There might be more C8 on the road but I’ve had mine out for 4 drives since delivery and yet to not have someone snap picture or video of it. The hype is still around.

In the end, it’s a mass produced car, it’s not an investment. It might depreciate less than most cars but it will in the long run except maybe Z06 and future ZR1 / Zoras.

 

[Jack Raccoon!]

I know dealers are paying well below MSRP now for Stingrays and there's a record number showing on Autotrader...the market has swung.

Perhaps now we'll start to see C8s on lots

Maybe you will be able to pick one up and utilize it during the "Driving Season". Fifth time lucky...

 

[Cannonball Rally]

Perhaps for all of those waiting on order banks it's an ideal time to go slightly used? I hope to keep mine for a long time. I doubt over time it will drop that significantly but if it does so be it. I did not purchase it to flip it.

 

[DenisC8]

Perhaps for all of those waiting on order banks it's an ideal time to go slightly used? I hope to keep mine for a long time. I doubt over time it will drop that significantly but if it does so be it. I did not purchase it to flip it.

I think many flippers will fall off the lists so wait times to order will decrease so unless someone finds their perfect spec for under MSRP, ordering new is still best

 

[CamsC8]

True flippers who flip brand new are already out of the game as I know lists are reducing for C8s, G Wagons, etc. Those folks move onto the next vehicle...

The C8 has been a great car to own and as such I have been fortunate to rack up the kms on every one I've owned and get out of them with a profit. With the market changing I could think of worse vehicles to be stuck with so the E-Ray may be the C8 to keep.

 

[Mr.Corvette]

I'm not sure which dropped faster - the value of my Corvette, or the last good 'hunch' I was given on the stock market.
Such is life.
With the used C8's now at a reduced 'value', I'm wondering how many new Stingrays, E-Rays, and Z06s on present 'lists' this will free up.
For a lot of buyers, I'm sure that receiving $20,000.00 less on their trade-in, on top of a new one costing more already, will cause the decision to be delayed, or set aside.
While I certainly don't like taking a financial 'hit' any more than anyone else, in the grand scheme of things I'll chalk it up to poor timing (or blame my Wife).
If an E-Ray (or Z06) allocation becomes available, I'm still on it like a fat kid on smarties, regardless of the present 'value' of my Stingray.
I do feel bad for anyone caught in this situation, but, if it gets that E-Ray in my garage earlier, I think I'll get over it.

Darrell lets add this to the equation. Imagine a month from now two days after the start of 2024 production there's a UAW strike. Not just at the Corvette plant, but at all the GM, Ford and Chrysler/Dodge/Jeep plants. They want a 4 day work week and a 40% raise on top of working 20% less hours. They don't like the fact that the auto manufacturers have record profits and that Mary Barra pay's herself over a half a million dollars a week. They don't like the lower pay for less skilled workers at the EV plants and the job losses due to more robotics and less people. All in all, it sounds like the UAW as usual isn't very happy about very much right now. What happens to the value of your 2023 HTC when there isn't going to be any built for 3-6 months? How long will it take the auto manufacturers to agree to a 60% pay increase? Will it be settled for 50% or 40%? What happens if we lose 10,000 or more C8's for a 2024 build cycle that has already been shortened due to the record breaking attempt and a 17 month 2023 build? The word out there is that the strike is going to happen. If you time this right, I think I can get your wife off the hook by getting your ROI taken care of with the next one that we should check on tomorrow if you have time.

 

[Cannonball Rally]

The reality of a strike is quite high I believe. Love them or hate them union's have a way to force significant change should they decide to challenge massive profits being made.
There is no clear winner if it does happen. Just extensive delays and losses all around. I agree with Mr corvette on this one.

The economy is brinking one major disaster after another right now. Corvettes will be the least of our concerns if it does happen. I say if you can afford to buy one great, buy it. If you cannot or were buying it to hopefully make a few extra bucks because of it, quite possibly that ship has sailed. Long game here if the unions do become active , those who currently have one to me should be protected from any major price drop for years to come, and those waiting may have to pay a lot more to get one.

 

[DW Ruby]

Personally, I've never thought of buying a car as an investment.
If it was 'high-end' stuff I was looking to make money from, I would be gathering up Rolex watches (they take up far less space).
I bought my Corvette because I wanted one, period.
My present Stingray is my 'learning curve', or my 'club initiation', or whatever other rationale suits for buying an available one before waiting years for my 'end game' E-Ray.
I knew then I was paying 'top dollar', and it comes as no real surprise to me prices have levelled off.

Without delving too much into the Union and strike issues (that's a lengthy discussion for somewhere else), it's a brave soul that leaves his job in this economic environment.
That said, I do hope that this can be ratified quickly, allowing those of us on 'lists' to enjoy our 'toys' in the foreseeable future.