I

ian1975

Casual User
Sep 3, 2019
25
20
Awards
1
VetteCoins
684
Car
Corvette C8 2020
Province
QC
Hi to all,

1) I bought my C8 coupe/Z51package/Front lift without the mag ride in September 2020. In general, I'm pleased with the car but I regret not taking the mag ride. During the 10 months wait after the initial configuration sending to GM, I've tried to add the mag ride but the dealer & GM said that was impossible.

2) September 2022, my salesman called me out of no where and told me that I can order a new C8 if I want so I ordered a convertible C8 fully loaded including the mag ride

3) The convertible C8 has arrived this week by surprise only 2 months after sending the specs to GM but my C8 coupe is already in storage at another place until next spring

4) The dealer agrees to take back my C8 coupe at the same price that I've paid for but it's selling for 15-20K more on the market (auto trader...)

5) Of course, I have to pay MRSP for the new C8 + the Trudeau luxury tax which is almost 5,5K. The dealer wants to take my C8 coupe out of storage and deliver the new convertible C8 before the end of this month. I will loose $ + penalty for taking my C8 coupe out of storage before next spring + the bank loan penalty since I've just renewed it September 2022 yearly.

My question is should I take or pass the convertible C8? Should I consider myself lucky to get another C8 in 2 months? With all the penalties, the luxury tax and trouble, should I wait for the Z06 or E Ray?

Thank you for your advice and inputs!

Ian
 
DenisC8

DenisC8

Power User
Jun 7, 2020
1,252
963
Awards
6
Ontario
VetteCoins
27,155
Car
2021 Corvette HTC
Province
ON
Dealer giving you only what you paid for your 1st C8 is a rip off but you should not expect to get the price you see on autotrader. You need to negotiate.

But, at the end of the day you should buy the 2nd C8.

Can you tell us exactly what spec and price are for 1st and 2nd C8s?
 
Last edited:
  • Like
Reactions: SebringC8
netsinah

netsinah

Power User
Jan 23, 2020
1,286
1,567
Awards
7
Edmonton
VetteCoins
32,212
Province
AB
What about selling your coupe privately for even just a small amount over MSRP (negotiable with buyer) to someone who’d pay for the storage fees? Perhaps a long shot this time of year, and it depends on the coupe specs and mileage, but you have access to this Forum or perhaps your local Corvette club. Worth a try?? Whatever you do, I expect it’ll be tough to let go the car of “your dreams”.
 
M

MY21C8

Regular
Nov 19, 2020
407
396
Awards
5
VetteCoins
9,944
Province
ON
I guess if it were me, I’d ask the dealer to cover the storage fee and contact the bank about moving the loan to the new car. There is a tax savings with a trade and convenience. .
 
Last edited:
J

Jeffer2013

Power User
Aug 1, 2013
1,594
1,521
Awards
10
alberta
VetteCoins
19,228
Car
2022 rapid blue
Province
AB
just do it
could go into a very long explanation as to why but my time is more valuable than that
not upset just saying it would take an hour to type and 15 minutes over the phone
‘getting what you paid for the car is ok, not great, but ok even in todays market
especially if the new one is at msrp
dont complain about taxes and storage as That is a cost of doing business

make a cost benefit list and then total up each side

if you really want the new one as closer to the car you have wished for
against the total cost go for it
 
harshadt

harshadt

Regular
Nov 9, 2020
477
315
Awards
6
Thunder Bay
VetteCoins
8,246
Car
C8 2LT, E63AMG
Province
ON
It’s only money. The question is can you afford the new C8 and penalties etc? If yes and this is your dream configuration then absolutely go for it. If you’re thinking maybe you want a Z06 or ERay or Zora then perhaps not. Since I don’t know your financial situation and your personal wishes it’s impossible to tell you what to do.
 
Rruuff Day

Rruuff Day

Never wrestle with a pig.
Staff member
Power User
Moderator
Beta
Aug 30, 2014
13,011
16,570
Awards
11
Pine Lake, Alberta
VetteCoins
9,029
Car
C7 3LT ZF1
Province
AB
just do it
could go into a very long explanation as to why but my time is more valuable than that
not upset just saying it would take an hour to type and 15 minutes over the phone
‘getting what you paid for the car is ok, not great, but ok even in todays market
especially if the new one is at msrp
dont complain about taxes and storage as That is a cost of doing business

make a cost benefit list and then total up each side

if you really want the new one as closer to the car you have wished for
against the total cost go for it
Time? Valuable?.... This is Jeff isn't it? :rofl:
 
  • Haha
Reactions: Black 03 Z06
gdb069

gdb069

Regular
Nov 2, 2021
152
128
Awards
4
VetteCoins
3,340
Car
C8
Province
BC
You don't indicate the $ of the storage or bank penalty but as mentioned you loan can be transferred. Also you mention you enjoy the coupe so there must be mileage and that car will be sold as used. Plus its likely a 2021 so a few years old.

Seems odd your second order went grey HTC after 1st order red coupe. A quick perusal and my opinion is to avoid the hassle of selling in winter in Quebec and just let the dealer have the coupe.
 
I

ian1975

Casual User
Sep 3, 2019
25
20
Awards
1
VetteCoins
684
Car
Corvette C8 2020
Province
QC
Hi & Thanks to all,
I will try to answer your questions...
-The first C8 3 LT coupe has 15k of mileage. The car is in perfect condition without any accident or incident. Realistically, how much should I get from the dealer?
-The cost of storage is 900$
-I called the bank and they told me that once I sell my car, I have to reimburse them and they will close the first loan. Then they will open a new loan for the second car. The loan is guaranteed by the car with the VIN number. Of course the bank charges at least 500$ for the paper work for the new loan.
-The cost of the new convertible C8 3 LT is 128,800ish before taxes
-The first C8 is silver and the second C8 is grey. Here are the pictures...
-Probably, I may change for a C8 Z06 or E-Ray in 2 years and the Zora after...
I understand that it's just money but I prefer a fair trade. Do you guys think that the dealer has a lot of customers waiting to buy a 128 K before taxes in this economy with a coming recession in 2023? Do you think that the dealer can keep the car until next spring until I can find a private buyer?
Difficult decision...
Ian
 

Attachments

  • IMG_7061.jpg
    IMG_7061.jpg
    1 MB · Views: 30
  • IMG_1051.jpg
    IMG_1051.jpg
    1.5 MB · Views: 30
carbuff

carbuff

Regular
Aug 14, 2014
204
42
Awards
5
Vancouver
VetteCoins
4,315
Car
2020 C8 HTC
Province
BC
If u r worried about an extra $1400 in fees, you can’t afford the car. Simple as that.

BTW: the taxes here in BC would eat you alive, compared to what u r paying.

Dealer needs to make some coin on ur trade, so fair offer.

And one other correction: With a 2 year C8 wait list, luxury goods flying off the shelves, way too much $$$ being spent by everyone, there is NO RECESSION.
 
gdb069

gdb069

Regular
Nov 2, 2021
152
128
Awards
4
VetteCoins
3,340
Car
C8
Province
BC
Here (BC) that 2021 with 15K milage will be listed at about $120,000. Dealer has to make some money so maybe $10k
 
I

ian1975

Casual User
Sep 3, 2019
25
20
Awards
1
VetteCoins
684
Car
Corvette C8 2020
Province
QC
If u r worried about an extra $1400 in fees, you can’t afford the car. Simple as that.

BTW: the taxes here in BC would eat you alive, compared to what u r paying.

Dealer needs to make some coin on ur trade, so fair offer.

And one other correction: With a 2 year C8 wait list, luxury goods flying off the shelves, way too much $$$ being spent by everyone, there is NO RECESSION.
Hi carbuff,
Thank you for your honest opinion,
I'm still waiting for the bank to confirm the penalty amount on a variable rate loan (100k). Probably it will be a 3 months interest at 7% on top of the $1400 fee...I can afford the car it's not a problem if it's a fair deal.
BTW, the taxes on an 128K car in QC is over 25K including the luxury tax + GST/PST (15%). How much are the taxes in BC?
If the dealer makes 10K on the trade + his profit on the MRSP of the new C8 then it's fair for me...
I agree with you that way too much $$$ being spent by everyone. We'll have to see next year economy when the government will increase the interest rate to control inflation...
Ian
 
J

Jeffer2013

Power User
Aug 1, 2013
1,594
1,521
Awards
10
alberta
VetteCoins
19,228
Car
2022 rapid blue
Province
AB
Hi carbuff,
Thank you for your honest opinion,
I'm still waiting for the bank to confirm the penalty amount on a variable rate loan (100k). Probably it will be a 3 months interest at 7% on top of the $1400 fee...I can afford the car it's not a problem if it's a fair deal.
BTW, the taxes on an 128K car in QC is over 25K including the luxury tax + GST/PST (15%). How much are the taxes in BC?
If the dealer makes 10K on the trade + his profit on the MRSP of the new C8 then it's fair for me...
I agree with you that way too much $$$ being spent by everyone. We'll have to see next year economy when the government will increase the interest rate to control inflation...
Ian
mortgages usually carry a 3 month penalty (which can be avoided)
car load s usually can be paid off without penalty
 
DenisC8

DenisC8

Power User
Jun 7, 2020
1,252
963
Awards
6
Ontario
VetteCoins
27,155
Car
2021 Corvette HTC
Province
ON
Hi & Thanks to all,
I will try to answer your questions...
-The first C8 3 LT coupe has 15k of mileage. The car is in perfect condition without any accident or incident. Realistically, how much should I get from the dealer?
-The cost of storage is 900$
-I called the bank and they told me that once I sell my car, I have to reimburse them and they will close the first loan. Then they will open a new loan for the second car. The loan is guaranteed by the car with the VIN number. Of course the bank charges at least 500$ for the paper work for the new loan.
-The cost of the new convertible C8 3 LT is 128,800ish before taxes
-The first C8 is silver and the second C8 is grey. Here are the pictures...
-Probably, I may change for a C8 Z06 or E-Ray in 2 years and the Zora after...
I understand that it's just money but I prefer a fair trade. Do you guys think that the dealer has a lot of customers waiting to buy a 128 K before taxes in this economy with a coming recession in 2023? Do you think that the dealer can keep the car until next spring until I can find a private buyer?
Difficult decision...
Ian
so 1st c8 was 100,500 and 2nd c8 is 129,000. That is a huge gap. I would shoot for your trade value on your 1st C8 to be what you paid for it + $10,000. Don't waste your dealers time with your financial penalties that's the cost of the opportunity.
 
carbuff

carbuff

Regular
Aug 14, 2014
204
42
Awards
5
Vancouver
VetteCoins
4,315
Car
2020 C8 HTC
Province
BC
Hi carbuff,
Thank you for your honest opinion,
I'm still waiting for the bank to confirm the penalty amount on a variable rate loan (100k). Probably it will be a 3 months interest at 7% on top of the $1400 fee...I can afford the car it's not a problem if it's a fair deal.
BTW, the taxes on an 128K car in QC is over 25K including the luxury tax + GST/PST (15%). How much are the taxes in BC?
If the dealer makes 10K on the trade + his profit on the MRSP of the new C8 then it's fair for me...
I agree with you that way too much $$$ being spent by everyone. We'll have to see next year economy when the government will increase the interest rate to control inflation...
Ian
BC tax is now 15% PST + 5% GST + the fed 20% tax on over $100K.
Nuts!

But much worse is the property purchase tax on real estate. That one on my next house will be about $75K. just in tax, not including commission. So the price of a C8 just in fees. Think about that. Yikes!
 
Last edited:
I

ian1975

Casual User
Sep 3, 2019
25
20
Awards
1
VetteCoins
684
Car
Corvette C8 2020
Province
QC
Hi to all,
Here's an update after I talked to the dealer yesterday...
He refused to increase the price of my C8 and he told me that he knows that I or him can sell the my C8 at least 15K more on the market but he refused to do it for me.
I told him that last year his dealership sold my colleague at work C8 HTC for 22 K + tax over MRSP and he said it was an particular case because my colleague is the brother-in-law of the dealership's owner. They export the C8 and sell it in the US...
Finally, he told me that if I'm selling the C8 to him 15 K more, he will increase the price of the new C8 by 15 K. If I decide to sell my car to someone else, he will refuse to sell me the new C8.
He told me the only option that I have is to either accept his initial offer or decline it and he will sell it to someone else.
So I politely declined his offer because I felt that it's a rip off...
Thanks!
Ian
 
DenisC8

DenisC8

Power User
Jun 7, 2020
1,252
963
Awards
6
Ontario
VetteCoins
27,155
Car
2021 Corvette HTC
Province
ON
Hi to all,
Here's an update after I talked to the dealer yesterday...
He refused to increase the price of my C8 and he told me that he knows that I or him can sell the my C8 at least 15K more on the market but he refused to do it for me.
I told him that last year his dealership sold my colleague at work C8 HTC for 22 K + tax over MRSP and he said it was an particular case because my colleague is the brother-in-law of the dealership's owner. They export the C8 and sell it in the US...
Finally, he told me that if I'm selling the C8 to him 15 K more, he will increase the price of the new C8 by 15 K. If I decide to sell my car to someone else, he will refuse to sell me the new C8.
He told me the only option that I have is to either accept his initial offer or decline it and he will sell it to someone else.
So I politely declined his offer because I felt that it's a rip off...
Thanks!
Ian
Hi to all,
Here's an update after I talked to the dealer yesterday...
He refused to increase the price of my C8 and he told me that he knows that I or him can sell the my C8 at least 15K more on the market but he refused to do it for me.
I told him that last year his dealership sold my colleague at work C8 HTC for 22 K + tax over MRSP and he said it was an particular case because my colleague is the brother-in-law of the dealership's owner. They export the C8 and sell it in the US...
Finally, he told me that if I'm selling the C8 to him 15 K more, he will increase the price of the new C8 by 15 K. If I decide to sell my car to someone else, he will refuse to sell me the new C8.
He told me the only option that I have is to either accept his initial offer or decline it and he will sell it to someone else.
So I politely declined his offer because I felt that it's a rip off...
Thanks!
Ian
What’s the name of the dealership? This would help other members so they don’t end up in your situation.
 
  • Like
Reactions: Movie Muscle
J

Jeffer2013

Power User
Aug 1, 2013
1,594
1,521
Awards
10
alberta
VetteCoins
19,228
Car
2022 rapid blue
Province
AB
Hi to all,
Here's an update after I talked to the dealer yesterday...
He refused to increase the price of my C8 and he told me that he knows that I or him can sell the my C8 at least 15K more on the market but he refused to do it for me.
I told him that last year his dealership sold my colleague at work C8 HTC for 22 K + tax over MRSP and he said it was an particular case because my colleague is the brother-in-law of the dealership's owner. They export the C8 and sell it in the US...
Finally, he told me that if I'm selling the C8 to him 15 K more, he will increase the price of the new C8 by 15 K. If I decide to sell my car to someone else, he will refuse to sell me the new C8.
He told me the only option that I have is to either accept his initial offer or decline it and he will sell it to someone else.
So I politely declined his offer because I felt that it's a rip off...
Thanks!
Ian
dealer was right in this case
you cannot work,both sides of the street
maybe just buy the c8 and sell yours instead of fighting with the dealer
good luck in finding another
 
  • Like
Reactions: SONSH1NE

Similar threads

RC Mike
Replies
19
Views
475
JCWP
H
Replies
0
Views
130
H

Users who are viewing this thread