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Discussion Starter · #1 ·
Hi there all. I'm a new member to the forum but have been reading a bit over the past couple of weeks. I have found a dealerships C7 that is in the 2000 stage of production and have the opportunity to claim the car now. I love these cars but tend to have my toys on a 1-2 year basis before getting a new one.

A few details and I have attached a pic of another users car that inspired my decision:
-Cherry Red
-Black wheels
-Z51 / 3LT
-Carbon Flash Trim
-Suede upper trim
-PDR
-Transparent roof
-Black interior
-Black calipers

The MSRP is $75k but I can get 9% off which gets me the car for $68,500.

What is your opinion on the 'resale-ability' of this car in a year or two assuming 5k miles/per year and excellent condition? Better yet, best guess on resale value?

Land vehicle Vehicle Car Sports car Motor vehicle
 

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2 years out that would be a low $50's car. 1 to 2 years are the worst for depreciation, 36 - 42 months is the sweet spot when you calculate TCO.
 

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Boy does this picture look familiar??? Let's just photoshop colors... Nice try! The funny part is this lower picture was the first Daytona Sunrise Orange that we saw that was dead on accurate...posted well over a month ago.

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Discussion Starter · #4 ·
Boy does this picture look familiar??? Let's just photoshop colors... Nice try! The funny part is this lower picture was the first Daytona Sunrise Orange that we saw that was dead on accurate...posted well over a month ago.

View attachment 16550
Whoa! Seriously? I copied my picture from the official Cherry Red thread... Someone photoshopped it from orange to cherry?? Did a great job with the photoshop. That orange looks sweet!

Low $50k is a big drop! If I bought the car at MSRP that would be a ~$20k drop in one to two years! That seems a bit much??
 

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That is life in the Corvette world!
 

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Interesting that I have not heard of a "Cherry" Red Vette. I assume you mean Crystal Red Tint?
 

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That photo is originally a Crystal Red Tintcoat.....it was photoshopped to DSOM by SwisStingray.
 
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Discussion Starter · #11 ·
833 sounds a bit low for a lease... plus the up front cash.

I've been looking at resale values and was only able to find one listing in the $50's... $58,999 for 2LT z51 w/ 13k miles. Most seem to be listed for low to mid 60's but truthfully, there aren't a lot out there... AT ALL.

I checked Craigslist out to Dallas and Atlanta, google, carconnection.com, and Autotrader nationwide. Any other suggestions where to look?

Maybe the new vette's will hold their value better than previous models...??
 

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40-55k real world Imo. Remember what people are asking and getting are 2 different things!

As well. Keep into account GM made 37000 of these cars in 14 and are on capacity pace this year as well.

With the other auto makers releasing their redesigned and beefed up Hp #'s this year you are naturally going to loose some customers for whatever reasons too.

Supply & demand...think base Vett will take a mild hit for those looking to dump car in first 2 years.

In which case regardless is the worst time to try an unload ANY new car (24 months)

I base my info on buying and selling Vetts on average every 2 years myself over past 20 years

Example purchased 2014 Z51 Msrp was 71k had 6 months 3500 miles
Trade in was 63k the car was still in demand (beginning of September) 15's weren't out just yet. My friend just went this week same car same dealer he was offered 52k
Just think its going to dip a bit.

No disrespect to anyone!!
 

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What you want to compare is your COST and not the resale. For instance, you buy a new car today that stickers for $80,000 but you only pay $70,000, like most of us have been doing, you only have $70,000 invested and not $80,000. In 3 years when you find out that your car is only worth $45,000 which has been my experience, you have only lost $25,000 related to what you paid and not $35000 which is what it stickered for. So you can figure about $8000/year depreciation for the first 3 years, which has been my experience over the last 12 years.
 
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Discussion Starter · #16 ·
I ended up finding on KBB and another site that they are saying about 67% resale value after 3 yrs and 54% after 5. Basically, the $8k per year rule of thumb is probably fair but you would have to take that depreciation off of the avg sale price of a new model at the time of your sale...

Hard to predict that but at the moment, there aren't many used Z51's on the market and Z06 production will slow down c7 production slightly (hard to use this as a relevant factor though).

If I pay $68k today and sell 12 months from now when a comparable car is selling for around $70k to the general public, I could resell for around $62k. Thats pretty doable in my mind... (the reason I say $70k is bc there are still a lot of dealers selling for MSRP when you get away from the big dealerships)
 

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Discussion Starter · #18 ·
Im just going off what we're talking about here! I believe it was you that said $8k per year! again, relative to the discount today vs the sale price tomorrow... I dont think the new models will be selling for less than 8-10% off MSRP in the next year or two... I'm no vette expert but maybe I'm wrong?

If I had a 2014 z51 now with low miles I would feel confident I could still sell it in for $60-62k, down from MSRP of $68k.
 

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Im just going off what we're talking about here! I believe it was you that said $8k per year! again, relative to the discount today vs the sale price tomorrow... I dont think the new models will be selling for less than 8-10% off MSRP in the next year or two... I'm no vette expert but maybe I'm wrong?

If I had a 2014 z51 now with low miles I would feel confident I could still sell it in for $60-62k, down from MSRP of $68k.
There is no chance. You can buy a brand new 2015 factory-ordered for 8-10% off MSRP now.
 
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Just a few months ago, I was originally looking specifically for a 96 C4, then was up to a 2006 with under 30k miles, which I was just a mere $300 away from buying at 25k. Luckily for me the selling dealer wouldn't budge, and after finding out about the large volume dealers ability to take the supplier/CU discounts, I ended up going with the 2015.
Granted it's over double the cost, but that would have been an 8 year old, no warranty whatsoever, lower performance, lower eye appeal.
Local dealers around here would not have budged much from the C7's MSRP, and I wouldn't have known otherwise if I didn't start haunting the forums.
Point is there is a small chance there might be someone out there willing and able to pay the high bucks for the used cars, but it's not something to count on.
 
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