Warning: Corvette C8 Prices Continue to TANK | Use this easy strategy to exploit the market
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- Опубліковано 8 чер 2024
- Corvette C8 prices are down by 12% compared to last year and there are no signs that the trend will turn anytime soon. This means that owners are looking at a loss of at least 12k.
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C8 Stingrays depreciated by 12% during last year and for the Z06 this was 20%. This means that both cars depreciated more than the market average of 8%. Moreover, there are no signs in the data that C8 price trends will flatten any time soon, while there is a growing number of markets in which prices are falling less quickly.
Content
00:00 Introduction
00:35 US Market
02:34 Price development
05:27 Benchmarking
07:00 Discount rates
09:36 Conclusion
Owners probably knew what they were getting themselves into and need to take a considerable loss when they sell. Buyers, however, could benefit from the situation. Not only because prices are falling, but also because cars that are listed for sale for longer than 3 months receive massive discounts. On average this is 6%, and this already offsets half of the yearly depreciation rate.
Disclaimer: The Content is for educational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this video constitutes a solicitation, recommendation, or endorsement to buy or sell any cars. The information published has been obtained from or is based on sources which are believed to be accurate and complete. Although reasonable care has been taken, the completeness and the accuracy of any information published cannot be guaranteed. Any opinions may be wrong and may change at any time. You should always carry out your own independent verification of facts and data before making any purchase decision. - Авто та транспорт
What car would you like to see analysed next?
I’d love to see one on the g82 m4 or the general new BMW M/// cars
I just did a video on the m2: ua-cam.com/video/Jbj1zy3PcX8/v-deo.htmlsi=xcbB0RwIPGTU9s9Y
Will probably do something on the m4 in the beginning of 2024.
Lexus RC-F.
Please revisit the gt350/ gt350r considering the release of the Dark horse
@@fourwheeltrader I did watch that when it came out it was good one for sure! 🔥🔥
This is the best Corvette Chevy has ever built, and waiting to buy the car for 40 years, believe me I know. Leach Wilson Chevy in Shelbyville IL is selling me, my build of the car a C8 3LZ Z06 with the Z07 package for MSRP. Aaron is my sales rep and he, as well as the rest of the sales reps, have been awesome. They are selling my build at MSRP, and as soon as I get it I will post it on line. These guys need to be commended for being so honest, and willing to work with the customer. They are way better than any other dealer I've dealt with.
Most of the dealers are out for themselves, its not that they aren't making enough money but they want to gouge for more. I had one dealer try to sell me a used Z06 that didn't have the Z07 package for over $ 210K??? Golf Mill was the worst they told me they didn't want my build that they would order what they wanted and auction it off to the highest bidder. These guys need to be boycotted.
Prices going down is a good thing. The market needs to return to the pre-pandemic normals. I'll wait patiently before paying over MSRP.
Agreed. i have the patience to wait.
Or even pay at MSRP. Iys still dumb to pay MSRP
C8s available at multiple dealers for less than MSRP. Used market is still way overpriced for some odd reason, but it will correct soon I imagine.
@TheDeal4412 for sure, I posted a market update a few weeks ago.
The C8 corvette is the first corvette i could see myself buying in the next 10 years. I just love everything they did with it, from the styling, to the engine move, to the fact even the base model puts out almost 500 hp and has a nice interior.
The bang for your buck I would be hard pressed to top.
Much returns to the norm now and soon below . Not everyone can get financing and many will refuse high rates . Porsche prices may follow Harley Davison lesson in resales. Manufacturers have room in profits to give low cost financing for now . Consumers set the stage
And think about the people who paid dealer markups…..
I saved and finally was in a position to order a C8 Z06. Then the dealer wanted to charge me a dealer markup of $30,000! I left and still no Z06. I will not and refuse to pay dealer markups; period.
Most higher end car prices are coming down. Less buyers as the lower end of the buyer pool gets pushed out with higher interest rates.
I think this winter all car markets are getting hit pretty hard and won't rebound like they normally would due to economic downturn. In the US, C8 Z06s are advertised at $30k over but if you call dealers and negotiate you can walk away with a C8 Z06 at MSRP. There's a dealer in my city that has a C8 Z06 at $30k over that's sat for a month because they refuse to budge or believe the market has changed.
🤣
in Vancouver, we can drive them practically yr round, and not much salt on roads here as well!!!
Late model Corvettes always drop after a few years, as Chevrolet just cranks up production to whatever it needs to fill all orders. It was the same thing for C7 base & Z06’s
I paid MSRP and received price protection check from Chevy. I ordered mine in March 2022 and got mine in February 2023. You also need to account for the base price went up about $10k from 2020 release to now for the C8 Stingray.
Super informational video! Thank you for sharing!
Economics lesson - supply and demand:
The C8 is a mass produced automobile. C8 production volume for 2023 was north of 53,000 units (a Corvette record), and the supply of C8 Stingrays is starting to catch up to demand. Thus, delivery times for new C8 Stingrays ordered at MSRP have been significantly reduced. It therefore was unrealistic to assume used Stingrays would continue to sell for ridiculously high prices - why would someone buy a used car for MSRP or higher when they can order a new one, optioned exactly how they desire, at MSRP and take delivery in a few months or sooner?
Production volume on Z06s also has been ramping up, and thus their used prices also will decline. Once the ZR1 is released, I expect new Z06s to be readily available for order at MSRP, and used Z06 prices will fall below MSRP.
Certain cars are made in such small quantities that their supply never will catch up to demand. Thus, they will do better at fetching high prices on the used market over a longer period of time. If you want an investment, buy a Ford GT. If you want a sports car with an incredible performance/dollar ratio, buy a Corvette.
Thanh you for all the amazing info! When will you be doing an updated video on Lamborghini Huracán?Aventador?
Good, glad to see the decline. The dealers were price gouging and I'm happy to see things get back to normal. When I walk into a show room, look at a car, and see "ADM" on the sticker I walk out.
Part of reason why there are a lot of z06’s on the market is because all the flippers had to wait 6 months before you can sell in order to keep the warranty in tact. This should have been noted in the video. The SR market has softened for sure, the Z06 prices have dropped from the crazy markups but still selling for over msrp unless you get really lucky and find that random dealer. Also a lot of the dealers claiming to sell a Z06 for msrp is simply click bait, once you call them they say it’s a printing error or add on a ton of dealer mandatory add-ons.
Where can I find information like the graphs you show?
In Canada, 2024 base price increased $12K, used C8 prices actually increased compared to last year
I have c8... Guess I'm driving it till the wheels fall off
great vid thanks
Problem is before when it was MSRP dealers would sell below.. now they’re selling about. Even at MSRP it’s still not what I thought a used one would be. Would love to have one at around 60-65.
Thanks for all the work on the data! Can you further explain what the discount rate is with respect to? Asking or MSRP?
It is the percentage decrease in listing price for cars that are for sale for longer than three months.
You NEED to do one for R8. Considering last year and close of production, curious what the market is going and will do in the future.
I have some older videos on the R8 but need to be updated.
@@fourwheeltrader as an R8 owner, I have gone through all your R8 videos. They are amazing and provide amazing details into the state of the market.
Can you please review MB AMG SL 63 and 55. Thx!
I got a 2021 C8 HTC Z51 w/1,300 miles on it (not a typo) for $10k under original MSRP. I’ve waited 4 years for the prices to dip. Thanks to the release of the Z06, I think that helped regular C8’s drop in price.
Yes, they will drop even more when the ZR1 comes out
Great analysis. I still say a new Z06 at MSRP is a reasonable deal.
No one's selling at MSRP. Even local dealers in the Midwest are still 50k+
Seen some prices here in US at 68k but I’m sure there hidden fees. I plan to have one by end of next year at a fair deal once rates drop. Also gives me more time to save so no biggy.
Good to know since I’m looking into buying a C8. I'm patiently waiting for the price dips while I save up my cash, fingers crossed I’ll have it in my driveway before the end of 2024
Same here. I’m Aiming to have one by Christmas next year!
Lets get it bro, good luck!@@3103frank
Cold seasons are the best time to buy a sports car btw
same, patience is key.
Demon update. With the demon 170 are the 2018 demons tanking or going up with the crazy pricing of the demons 170s?
What are your sources for you data/ charting?
To save 5% might save me $5,000 on a new $100,000 Vette, but as i've been looking...you've got to take into account are you getting the preferred colour, model, etc...You may get lucky and find one you like when Nov/Dec rolls around, but you've also missed out on a full summer of driving, what I assume is ones dream car...I myself am on the hunt for my very first Corvette....probably deciding between a 2024 Stingray and a 2019 Coupe 1LT with about 25,000KM...difference in price is approximately $115,000 to $75,000 after taxes...do you all think the extra $40,000 is worth it to get a car 5 years newer?
I don’t think Lambo Ferrari or Porsche no more since I bought the beautiful 70 Anniversary edition Z51 C8 Coupe 1k under MSRP 2800 miles and I am so so happy what only matters is what I think. And really love it! Bought it all cash extra pocket change not under the mattress either all good here
Roughly 6% declined and such. Is that 6% decline off of MSRP, or off previous (over MSRP) selling price? Great video!
Thanks, 6% off of the advertised price.
It just a function of used C8 now being more plentiful. It is completely understandable.
Where have these prices tanked . Europe?. Certainly not at a dealership in US
It's clickbait, and people not realizing these came out in 2019 as 2020 models so there's 5yr old cars tht have long been out of warranty so of course they aren't going to demand top dollar anymore. The "depreciation " he's referring to is to the marked up cars tht people overpaid for....
you can look at your local chevy dealers and compare to prices months ago. I have definitely seen changes. Not all, or even most, but some of the dealerships are selling for mrsp now compared to the 20k "Market adjustment" markup.
Higher interest rates are the major contributor to lower demand which deflates market values not only for C8, but all cars.
Many potential buyers don’t qualify for reasonable interest rates which disqualifies them. As a result, there are a significantly smaller number of buyers.
Im looking for a c7 Z06 manual. And thr prices seem to be going up still... Im disgusted at myself missing out several years ago to hold onto my grand sport...
Same here. If C8’s are coming down C7 will follow. I refuse to pay for a 5-8 year old C7 what I can pay for a well optioned brand new C8. I know 650 vs 495 hp but everything else is superior on the C8 plus brand new with warranty.
I haven't seen any dip in BMW prices. Hmmm.
Oh the C8 is losing money? What a shock.
short term leases coming off, ooops very high interest rates and banks being fussy on lending now...
Low mileage mint condition garaged Z51 70th Anniversary Edition C8s and Especially 70th Anniversary Z06s are the only cars that will help keep a drop below MSRP to a minimum over time. Eventually things will go back up especially if we all go to electric.
The C8 was selling over MSRP as every car was and now prices are coming down like they are for all cars
Hello brother What about 2023 Maserati mc20 convertible what the best time to buy?
Never!
Las Vegas, Nevada January 3, 2024 Z06 Corvettes first sticker number $205,000 that’s without the price gouging, I can wait
You can’t get financing on cars with dealer markups… that has to be cash (the overage)
BAT commenters need to watch this. They are still stuck in ridiculous Covid pricing trends.
You mean BAT speculators 😅
I got to say, we paid MSRP at country motors for a ‘23 70th CHT. Ordered in Feb picked it up in Aug ‘22. Life is too short to be that picky waiting for a few % dip in price. Easier and better to find a dealer that ‘deals’. As for the foreign lovers, y’all will pay for tunes and tweaks while that American motors just keeps running. Year in and year out. Let’s no even start on ride comfort.
‘You are still waving aren’t you?’
Not in Canada they are not down, as we don't have as many as the States! Still even hard to get any allocations, love my 2023 c8 coupe! Waiting for my 2024 C8 convertible. The 2/3 yr ones here are still getting high prices ! Canada way different market than Ststes! Plus our taxes way more!
I hope they still hold strong in Canada. They just increased prices here by $10k I think because we’ve always got C8 for cheaper than the US. Hopefully the increase holds the market strong for a bit.
@@michaela.l1618 in Canada we are like a yr behind!! so there's no stock here! you just don't see too many on the road. And in Vancouver we sell the most expensive sports cars in North america yet! i've only seen 7/8 on the road. since i got my 2023, seen none. Just waiting for my 2024 also convertible!
His strategy: "seasonality" - prices decrease between august and january. 6% discounted average if you buy in the winter. Your welcome.
not in Canada!!!! they are getting high prices!!!
I was going to sale mine to buy some land yet the market has been all over the place. Mine is on the lower end but I'm not giving it away because I really don't want to get rid of it if I don't have too. I'm just thinking putting more down on land be best bet for me.
I love corvettes but land is always a better investment
Yep…land appreciates and C8s depreciate
No General Motors car will hold value due to quantity produced. You can't even spec it weird like the 60s
Manual transmission CTSV wagon has entered the chat…
Definitely you are an economist and NOT a car guy... C8 corvette... the FIRST corvette mid-engine, the LAST natural aspirated motor... I see a piece of collection. I don't see price going down...all the way around, prices are increasing.
The prices of msrp was never bad. The premiums and scalpers are to blame. That will change.
Supply is catching up with demand. "Delusional sellers" and dealers is correct. They will continue to hold out due to the massive hit they took by buying into adm BS. There will be a lot of bag holders. Buyers will once again have the advantage.
The cars are still above MSRP.
still msrp or higher everywhere
Thats Just means new to me C7s will be under 40k
Lmaooooo, they cost just as much as the C8s
@@Forever.Remain.Nameless car gurus has several C7s in texas listed under 50k... you cant find a C8 under 75K unless its damaged. theres a C7 2015 Chevrolet Corvette Stingray Z51 2LT Convertible RWD
Leander, TX for $43,994 and another 2014 Chevrolet Corvette Stingray 2LT Convertible RWD Granbury, TX $38,995
25% of every C7 produced was a manual. Since GM has said there gone forever at least who knows In definitely. There be harder and harder to find as the years go by. So in my opinion if your looking for a manual C7 in pristine condition there going to hold there own because you’ll never EVER be able to get this awesome machine brand new
@@mdolandese Manual C6 Z06's are even harder to find. the smart guys that get them replace the heads and cam to get 550 hp daily street monsters
The party is over on the Z06
Agreed…I just saw two different NEW 3ZLT Z06’s at 10k over MSRP.
@@leonarddecant8566where at?
@Badboyblonde several were posted on FB this week at MSRP
@@thanos2727
E-Ray coming, Grand Sport coming, 2025 Corvette EV coming, ZR1 coming and Zora coming!
It's a mass-produced car, so it's no surprise.
It’s more simple than this people got used to buying and driving for free and bc of that people thought they could afford it and just cash out whenever now all the folks who were borderline which are most vette buyers and lower exotics have to cash out as they can’t afford a 30k loss so the market overall will crash
What did you say?
In other words the pre owned C8 coupe and convertible are just used cars .
It’s a GM mass market clown car. Depreciation is to be expected.
Please do the 720s
I did one two months ago: ua-cam.com/video/pa_Oe5us1Yg/v-deo.htmlsi=bstckPbXOTW0P5Ag
Tanking? BS! If they were tanking, you’d find C8’s in the $60’s for sale. Used C8’s are selling at MSRP or close to it. Leveling out, yes, but tanking? Not at all!
Now there are over 200 of each Z06 for sale. All I can say is lol and ouch. And does this really surprise anyone on a mass production car? The Z06 is not rare. Period.
I’ll pick one up for 20K 5 years from now 😂
Prices drop once very difficult to get parts, get scarce. Look at the C7 and C6 for example. Dealers won’t sell you many parts for the C6 anymore. I fear the same is going to happen to the C7, so you can grab a 2014 for dirt cheap now.
Anybody who pays over MSRP for a car has more dollars than 'sense'.
You predicted C8 prices would plummet in 2021. Only 2 years later we see softer market. Spring will push market upwards again. It's nearly winter, dude
Did you even watch the video? Prices plummeted during the last two year by 25%, irrespective of seasonal effect.
@fourwheeltrader C8 remains arguably the best sports car decision. Many dealers are trading new ones for used ones in great shape - straight across. The spring resale demand us huge
Any sports car demand is less now
@@adrianleusink1970 What? C8s don’t compare to 911s in terms of devaluation. Even based model 911s depreciated much slower than Vettes.
The ppl who wante one already have it. That simple soo there’s no more the need to over spend
I want one but I'm smart enough to wait to buy it for less than mrsp
@@mohammedanika7246 that is the smartest thing you can do, wait a little and get it under msrp. I got mine from Bruce Lowrie at msrp 5 months ago after waiting 9 months for
OK, instead of showing the numbers on an already marked up 2 or 3lt, why not show the number on just a base 1lt? That way regular everyday people can see what it cost to get into an entry level corvette. 90% of the public don't care about a 200k ZO6 because not many of us are dumb enough to remortgage our house to get one.
I am not 100 percent sure what you mean. The depreciation numbers are based on median prices including all spec levels.
@@fourwheeltrader For example, my ‘24 1LT with not one single option had an MSRP of $67,895. 10 days after mine rolled off the assembly line, GM increased the price for a ‘24 no option 1LT to $69,995. I paid MSRP, so a 12% drop for people who paid an additional mark-up doesn’t really do anything to the value of mine yet, correct? Even if it did, I didn’t buy it as an investment, I bought it to drive. It’s an amazing car!
Next year this time, you should be able to get a new C8 for $10K.
We wish but in a normal world, we should be able to pick used ones up for 60-80% of new. They are still 100% +
@@woodrmp1 Your logic must be a 2020 with 60k - 80k miles on it....
They are not fun to drive and are too large to park in parking spots
The only way this car could hold value is if you had Ferrari buyers, Porsche buyers, Lambo buyers step in to the market, but they never will , Chevys, an American made car assembly line car
They have stepped into the market. Especially with the Z06. Who do you think have been paying the ADMs?
An American made car assembly line car is putting up more performance and affordability than the brands you just listed….
A Ferrari buyer would buy a C8 or Z06 just to thrash it and take it to any Chevy dealer under warranty.
The aforementioned buyers are 1 perecenters. This is not their only car and they would not prop up values. This is purely based on supply and demand. The sheer production numbers of c8 and z06 eclipses any of those brands. I’m a Porsche owner (718 Spyder and 991.2 C4S). The performance of the Z06 is appealing to me, but not the GM badge. This unfortunately will more often than not be the case to high tier performance car buyers.
@@haochen5973 Well said and accurate. The fastest car you can build for the money is a mustang. Crappy plastic interior. My $140k Z06 has the cheapest turn signal stalk. If I could have walked down and bought any 911 product I would have instead of the Z06. Now the sound the car makes. That is worth the money. Nothing like it. That’s the smile per dollar.
Buy a Ferrari if you can.
At this price point I would definitely buy a Ferrari over a corvette. Close to 200k I would entertain McLaren also.
I mean no shit it’s tanking in value. It’s a corvette. They’re mass produced, and are worth 15k in a few years just like the rest of them in the past. Did everyone think they were going to hold their value because they look like an ugly Lambo?
IDK. I paid MSRP for my 2022 HTC and it’s still holding steady.
I’m still doing well because I would never pay a premium for a mass produced production car.
I paid msrp for my 21 3lt
So no regrets here. Sure it's dropped but I expected that. It's a production car. Plus they are dropping because no one can afford them because of the economy. Expected to get worse
@@superameric8 the market is returning back to normal (2020-2023 was not normal). As is normal, you should expect any corvette to be about 1/2 of new price at 10 years old. I should be able to pick up a C7 in the 40's but they are still in the 60's (CAD), so I am patiently waiting for sanity to return. Currently sellers are trying to get original MSRP, or more, for C7's.
It's a good car but the looks already look older than the c7. It kind of looks like a kit car. Still, I think it's a good car, but not surprised it's struggling.
What a load of crap. I’ve been watching the market. There has not been any “tanking”. Hans is giving you bad info.
A corvette will never hold value, it’s a corvette bleh, if you paid premium get ready to loose a lot of money.
American junk for 1/4 million dollars 😂😂😂😂😂😂😂😂😂😂😂
Well, when they hit 30k I’ll start looking. Car is ridiculously overpriced like everything else new right now.
This whole channel is a MASSIVE cope holy moly
These new corvettes are trying to look more and more like the grease ball cars of Italy and they stopped being a true American sport car after they stopped making the C2 , as a previous owner of a 62 corvette and a big block 67 rag top I would never have imagined such a down fall from being a true American sports car.
The C8 Corvette is an ugly car. Looks like a rock fell on it
I paid $105,000 in 2021 sold $76,000 2023 -$29,000 sold with 4700 miles