[elegant]

"If the new Chevy Corvette wasn’t celebrated enough, its quality resale value is yet another reason: It’ll be worth an estimated 67.5 percent after three years and 53.5 percent after half a decade." So says Kelly Blue Book. That is the fifth best of every vehicle (car, truck or SUV). Further, as per wallstcheatsheet.com, those with the best residual values, “vehicles that earn the highest five-year residual values, expressed as a percentage of their original Manufacturer’s Suggested Retail Price (MSRP), are selected for these prestigious awards.”

While Toyota vehicles led the top ten residual values, with four of the top ten, GM had three including the Camaro, the Silverado and the StingRay. The Dodge Challenger and the Jeep Wrangler were also on the list, as is one lone Honda CR-V. Interestingly, not a single Ford product made it into the top ten based on residual five-year retained value.

Here's a related thread on the excellent StingRay residual values.

http://www.stingrayforums.com/forum...s/1655-important-residual-value-c7-award.html

 

[glen e]

Again, great news for all of us...Kudo's to Chevy!

 

[Georgio51]

"If the new Chevy Corvette wasn’t celebrated enough, its quality resale value is yet another reason: It’ll be worth an estimated 67.5 percent after three years and 53.5 percent after half a decade." So says Kelly Blue Book. That is the fifth best of every vehicle (car, truck or SUV). Further, as per wallstcheatsheet.com, those with the best residual values, “vehicles that earn the highest five-year residual values, expressed as a percentage of their original Manufacturer’s Suggested Retail Price (MSRP), are selected for these prestigious awards.”

While Toyota vehicles led the top ten residual values, with four of the top ten, GM had three including the Camaro, the Silverado and the StingRay. The Dodge Challenger and the Jeep Wrangler were also on the list, as is one lone Honda CR-V. Interestingly, not a single Ford product made it into the top ten based on residual five-year retained value.

Here's a related thread on the excellent StingRay residual values.

http://www.stingrayforums.com/forum...s/1655-important-residual-value-c7-award.html

Too late for me but maybe Chevy will create a lease program. A 67% residual should result in an 'affordable' lease, given a reasonable money factor. It's the perfect tool to attract those in their new target market. Then again, if I were Chevy I might not want many C7s back after they've been pushed hard for 30-36K miles. I have less than 600 miles on mine and my traditional, conservative driving style has been turned upside/down and inside/out.

 

[Grandsport]

The only used Corvettes that bring the money have less than 10k miles.A 3 year old Corvette with 30k+miles is a real tough sell.Lease companies will look hard at residual values.

 

[Georgio51]

The only used Corvettes that bring the money have less than 10k miles.A 3 year old Corvette with 30k+miles is a real tough sell.Lease companies will look hard at residual values.

Unfortunately, I bought mine thinking (more like hoping) I could sell her in about 3 years and go back to a sport sedan. Deep down, I knew what you said is true, especially since I have no plans to make her a garage queen.

And yes, the 67% knocked me out. I was thinking upper 50s and even that's high for a pure sports car except the exotics. From a marketers view, a lease would be great but the 'beanies' would likely override, as you suggest.

 

[scottsdaledave]

With all of us paying full MSRP that is definitely good news

 

[Brokerbiker]

We probably all know the person who "I NEVER buy a new car but wait several years to get a good deal!" As long as we are ALL HAPPY and we have a good resale to those non-early adopters, that is capitalism.


Sent from my iPhone using Corvette Stingray Forum mobile app

 

[15LBTC7]

The only used Corvettes that bring the money have less than 10k miles.A 3 year old Corvette with 30k+miles is a real tough sell.Lease companies will look hard at residual values.

Agree, but there are those, like me, who would glady have a lease for 3/7500mi or something similar. I would most likely buy outright after, if I determine the car is for me but if not not I trade in a car with low miles.

 

[zimm888]

This suggested 67.5 after 3 years is what the dealers will offer? I still have an opportunity to decide on leasing/purchasing since I won't have my vette for another 4-6 weeks. If leasing is available, how do you have them guarantee a residual, or will they even? I've never leased before. Thx

 

[15LBTC7]

This suggested 67.5 after 3 years is what the dealers will offer? I still have an opportunity to decide on leasing/purchasing since I won't have my vette for another 4-6 weeks. If leasing is available, how do you have them guarantee a residual, or will they even? I've never leased before. Thx

Residual is written into the contract that you sign up front on the lease, so you have to negotiate it at that time.

 

[Grandsport]

Residual is written into the contract that you sign up front on the lease, so you have to negotiate it at that time.

No negotiation on residual values,that would be total chaos.Cap cost reduction is based on your down payment.

 

[C3C5C7Sal]

Lenders generally use ALG (American Lease Guide) to decide what the residual is at inception. You can NOT negotiate this, but you can get a higher residual by choosing a low or ultra low mile lease. High residual and low money factor make for a lower payment, but this does not tell the whole story. Some lenders play games with it and have a lower residual and higher money factor. A good finance manager will give you the options and then you have to decide what's right for you. (I'm a bank rep for one of the big three, feel free to ask me questions). ?

 

[15LBTC7]

Correct on not being able to negotiate the residual, some reason I was thinking money factor by the end of what I was typing and typed what I was saying to myself.

 

[Racerbob]

Is there any room for negotiation? If so, where?

 

[2vette2]

The only used Corvettes that bring the money have less than 10k miles.A 3 year old Corvette with 30k+miles is a real tough sell.Lease companies will look hard at residual values.

I agree. 67% is what I got on my 2013 with 9,000 miles on it when I traded for the 2014. I was told that 9,000 was way too many miles for a one year old vette by more than one dealer.