My Corvette Depreciated HOW MUCH?!
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- Опубликовано: 4 окт 2019
- What's up everyone, today I decided to see how much my Corvette has depreciated in the last 6 months... spoiler alert: It didn't do so hot. But with so many people ditching the C7 for the upcoming C8, I thought it would be an interesting and relevant topic to cover, so here it is!
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Cool. Good to know 👍
You should do a cars.com search looking for your exact car and see what people and dealers are asking for them.
Thanks for the suggestion, I just did a quick search and a lot of Z51's in my area are around the 41-46k range so I think my offers were actually pretty fair and spot on given my mileage... I think in my case, the convertible is helping keep the price up since there are relatively few available right now near me.
i want a 2018 black rose metallic with the tan top and interior! automatic! low low miles though.
I think Black Rose is one of the most underrated colors on a Corvette, I hope you get one! :) That combo would be sweet!
Resale is what I had wondered about and was surprised at your top offer, I had thought the lower price was what it would be. After nine Corvettes I think once the C8 is in customers hands, and maintenance issues are known things might cool down a bit. My current Corvette is a 2017 GS and I will be getting a C8 at some time, probably 2021 but I think the value of our C7's will level out somewhat after all we have the end of an era, the front engine Corvette.
I think you're right, right now the market is hyped up about the C8 being new, plus with the mid-engine, but everything should simmer down after a year of the C8 being available (I would guess anyways)... OMG, don't even get me started about the maintenance, and has anyone looked at the new vert's access to the engine bay, that looks like a total PITA from the few clips I've seen... but I still want one haha
1Brain4Wheels t
The engine bay is something that they will have to work out. One of the reps said not to take it through a car wash or the engine bay will fill up with water. What happens when it is parked out in a heavy rain?
@@brianbarke8 Wow, really? That's crazy, yeah that doesn't give me a lot of confidence haha Definitely going to want to skip out on that first production year of the C8... a lot of changes happening in one generation!
Great video no doubt. I learnt a very valuable thing that is vroom as I always thought carmax was the best, so thanks You.I still can’t agree it’s deprecated. Buy an used corvette from dealer for 47k and next day go to carmax. They will offer You probably 42k. Because carmax will sell the car for 47k. Obviously they need to make profit right. We can’t say corvette depreciated 5k in one day. There will always be a big difference between trade in value vs buying from dealer.
These are all trade in value, correct ?
What about selling it privately???
45k ?
Great question, yeah these are all trade-in dealers etc. - I expect anyone selling right now privately should be able to get 4-6k more than my highest trade in offer if they were to sell it private, based on what I could find in my area. The hardest thing is finding cash buyers and avoiding tire kickers.
@@1Brain4Wheels private is always going to be the best option but a lot of people either don't have the patience or don't want to deal with people just to save a few grand. I sold my c6 grand sport for 27500 a year ago and i was asking for 28k. It took almost two months but in that time i had a lil over a dozen people come look at it, drive it and give me offers well below. some one asked for 24k. I never actually had it appraised at a dealer or carmax but i would assume that it would have been around the 24k-25k mark. Some people in my position however would have rather gave it to carmax for that 24-25k and taken the 2.5k hit if it meant not having to deal with rude people, setting up appointments with people that clearly weren't gonna buy the car and were only trying to test drive it for fun or people being rude and offering well below what you asked and won't negotiate at all. Avoiding all that headache might be worth 2-3k for some , i wasn't in a hurry to sell so i put up with it but i can see how others might not want to.
Good Job
Thanks Rich! :)
Only you know your finances. Example, if you are up side down on the loan (owing more then you are offered) keep it, and stop dreaming. If the car is paid for, then only you can sell it and wait for the C8 or enjoy the vette you have now, to the fullest. Only know what will make you happy, and you can afford. If it was me, l would keep what I have.
I completely agree, for anyone else that reads this (especially the younger audience), don't go throwing good money after bad and rolling over debt if you're already underwater... either way the C7 and the C8 are both fantastic cars (well, I know the C7 is anyways haha), so if anyone gets a lowball offer, keep on enjoying that C7 life!
@@1Brain4Wheels I also have a 2016 vette. It is paid for and I am enjoying it completely. Don't see a C8 in my near future.
Noooo.......
I think it’s worth 45k right now
Nice, good guess! Right smack between my highest trade-in offer and private party sale!
When I come to California in December, we should collaborate
For sure man, hit me up when you're heading this way!
Comp seats!!!
Yes, definitely a must-have upgrade! (unless the driver is on the wider side haha)
I think you’re actually come out ahead! If you had been in a lease for 2-3 years, you would be out of nearly $1K or more a month and that’s after paying the initial taxes on the car. By my calculations you’re only out of A little more than $650 for each of the months that you owned the car. Mind you, it is a depreciating asset and you’ll always pay for it. At some point, you may not bleed as hard but you’re always bleeding! Thank your lucky stars that you didn’t throw money into some euro-exotic that would have you’re bank account on life support!
I like your thinking! And that's true, compared to other options available to get my hands on it, relatively speaking I didn't do too bad :) Thanks Michael!
XD phew
Dude, I bought a used c7 at chevy car dealership... a 2015, 1 1/2 year old c7 for 50k and sold september of last year 2018 at carmax for 35k. If I came in earlier it could have been more. They low balled for 31k but I held firm. Your foing to loose 10k just driving a new one off the show room floor. You only loss 5k. Any other sports car would loose much more. Next time i will only sell to private
Yeah, I agree with selling private if you can, definitely will get more money but it's also hard to get the deal and money worked out with cars in this price point too... I was fortunate enough to hold out until a dealer was willing to give me a deal I could live with for the C7 and so I was lucky to have a minimal loss ("just" a few grand over the 6 months I owned it).