Corvette C8 Prices Fell Off A Cliff (again) | Bottom in sight?
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- čas přidán 7. 06. 2024
- Corvette C8 prices continue to plummet. Convertibles from 2021 lost for example more than $40,000 since their market top. But their are signs that the worst depreciation rates are behind us.
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C8 stingray prices are approximately 27% below their market top, and yet again, fell off a cliff as we headed into the winter. This means that stingrays are 11.4% cheaper than one year ago. Z06s prices are 27.4% cheaper than nine months ago and are still falling rapidly.
We saw that the depreciation rate is still high compared to other cars, but that it no longer sits in the 25% of cars that lost the most. Last year’s depreciation was then also slightly lower that the preceding year. Moreover, we saw that cars are selling slightly quicker than last year and that unsold inventory is discounted less.
These are all signs the worst drop is likely to be behind us and that is likely that we will start to see marginal decreases in the depreciation rates.
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. - Auta a dopravní prostředky
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What I'm much more interested in is the depreciation from MSRP, not from the inflated prices idiots paid.
Lol rip for those who paid 200k for Z06 😂
Yeah this is all about depreciation for people who paid $25-$50k over. This is stupid
Unfortunately i do not have MSRP data for every car, but you can compare what you paid to the most recent data point to tailor the depreciation rate.
Watched MECUM yesterday and they had 23 ,z06, 1500 miles HTC. 3LZ and struggled to get 145k which cant be to far off MSRP. Then you have the MECUM fees .
Exactly, not only is he talking about cars tht were marked up but those cars are 5yrs old now with thousands of miles and are out of warranty 😂
Gm should only sell these directly to avoid dealer price gouging.
So glad I was patient. Couldn’t stomach the dealer markups on the Z06. It was “only” 30k in my region. Was able to snag an allocation at MSRP a few weeks ago. Don’t pay markups people!
I am hesitant about buying mine now. I think ill wait perhaps i can even get the new zr1
@@irvincasanueva3423 and below msrp as normal
Even MSRP is becoming too high. And when the ZR1 hits the market, the Z06 will absolutely tank.
Easy for you to say. Trump 2024!
@@Jwdude123
Please take your politics elsewhere.
Thousands of C8’s are being produced each month, how could the prices not decrease.
Mass manufacturing is the reason why an average person can buy a C8 that can rival the performance of German and Italian exotics. The C8 has always been a performance car bargain…the more parts you manufacture, the cheaper the parts cost.
This video is about the depreciation from the market adjustments dealers were charging. Used C8s are going for close or over original MSRP
The prices are coming down and next year will be the sweet spot to buy. Plenty of them now just sitting on lots now.
@@finwaydiddy1977if this is happening already next year will be even better! 😊
@@yepyep6916 I see used 2022 3lt’s convertibles at $10k under msrp on the used market now.
I remember a highly optioned z06 asking $349k least year. And now they transact at MSRP. And next winter will be under MSRP. Crazy how predictable it was but people still paid insane ADMs.
A fool and his money are soon parted
It's inconsequential to the people who can afford that in the first place. That's people who are rich enough to buy with cash.
@@supremekizzle
This is the Corvette market, not the Ferrari market. There has been many examples of people financing these cars though the roof, all for the possibility to be the first. Many will be in a bind as many with mid level income actually speculated in the Z06.
dont remind me I bought 2021 C8 for $105,000 sold it for $76,000 -$29,000 now you can buy same car 2024 New for $70K, I liked & subscribed
LOL.
You musta bought an lowly LT1
You can get 4-6k off the base model now, i saw a new coupe with z51 package for 71,800.
That is actually a compelling deal - less than for a 2.0 L 718 Cayman base model, and not much higher than a 6 cyl GR Supra.
Where? I’ll buy that
Exactly where@@Leslegg - I see so many comments like this but you the cheapest C8 is still $65K ...4 years old with 30,000 miles. Thats insane. Considering it cost $60K new
Around here price same 72k
@@usmanshahid2219hi I’m looking to buy my first new car. This might be dumb question but why can’t someone order it built from the dealership if used cost basically like new? Is it the wait time?
Not surprising that such a mass produced car would crash from the crazy prices. I feel sorry for all those souls who payed so high
Corvettes are never exclusive or rare since Chevy always makes a crap ton of them and build quality is never great, so pricing will always be similar to other standard-issue cars. Porsche 911's they are not.
Why feel sorry? They got what they wanted. They where the cool crowd for a few months now it's over. That's just life. Any1 that pays porsche 911 turbo s prices for a chevy has more money than sense imo
@@nchellcatbadboy3625A sad but oh so true statement…
Why? I have a hard time feeling sorry for anyone acting this dumb and reckless with their money.
Very happy I didn't get caught up in the hype. Shoutout to my dealer MacMulkin Chevrolet in New Hampshire for getting me into a 2022 Stingray and 2024 Z06 for MSRP + $500 despite the rest of the madness in the market.
Reality Check: There are always 2 different market values of vehicles. 1 is what the stealerships say the vehicle is worth. 2 is what you can get for it if you try to sell it on your own which is significantly lower than what you paid at the stealership.
Keep up the good work! Great videos
Excellent as always!
C8 Z06 vettes are 150k and below now....versus 200k+ months ago...I see 130k coming soon
85k soon
I think the mid-eng Z06 is ugly to begin with. :(
@@marblox9300it looks great, but I'm not a fan of the super car sound it produces....I'd rather get that V8 cammed sound out of it...
@@tonyj797 Now you're playing with POWWAH!!!
Z06 prices will be sub 100k when the ZR1 hits the market. The market will be flooded with Z06's.
Yes please do include the C7’s on the future
I'm curious, where did you get the data for the charts you've shown in the video?
thank you for the informative video as usual. what are your thoughts on the 600 LT? Do you think there could be price appreciation in the future considering there are only 750 of them made
I will post a new McLAren market update soon.
Glad I picked C5Z a few years ago. C8 hype helped me get a deal. Prices are stable, even rising slightly. When I trade out of it in a few years I expect to break even against inflation. Not sure why more people don’t avoid the first four years of depreciation at least. This wacky market definitely confused some. If you want the new, good for you! I’m sure it’s sweet. Just understand the sticker price isn’t the whole story.
Glad to hear you’ll be including the C7 again in the future!
I have always waited a couple years to see a new movie rather than stand in a stupid line up right away like a complete moron because it’s way better and I have zero need to see or get something immediately. Have a little patience folks.
Pride and ego. These vacant folks are having their egos sold back to them. Who can stand in the way of that?
I’m curious if prices will fall further now that it has been revealed GM is selling the driving data collected by their automobiles to Lexus/Nexus who is then selling it to auto insurers. Especially on a car like a Corvette.
The price of unintended consequences GM.
I have a C8 HTC, 3LT, great car, bought it when the C8s were relatively rare, but I told people just wait, just like every other generation of vette, chevy will produce a metric sh!tload of em, soon you'll see these everywhere, and yep, here we are.
people financially play themselves by having to have the hot new thing right away. wait a couple years and have money in your pocket for non-depreciating assets.
@@romulus_ Yep, people paying $50K+ over are nuts or made of money.
You are right…I’ve owned C6-C8 vettes…there are a lot of them but I refuse to shell out the money for a late-model 911 (including ridiculously high maintenance) A least with a Vette you can drive it and enjoy it. Many Porsche owner don’t put many miles on their cars.
@@yepyep6916 you are wrong about the maintenance on a porsche and miles put on the cars. you're confusing the situation with ferrari and other exotic cars. it's no higher than the price on a volkswagen/audi. I say this as an owner.
@@shoobidyboop8634 If that's the case, most Porsche GT/Turbo car owners (GT3, GT4RS, S/T, Turbo S) are freakin' lunatics. The dealer markups are gone for non-GT/non-Turbo S 911s (MSRP nowadays which is what I and a few of my friends have paid for our 992 version 911s) but those other models are off the charts even when sold as used. The Corvette is looking like a better and better value especially if you don't go Z06.
Can’t wait for dealerships to discount the overpriced z06. You get a glorious engine but that’s about it. It looks almost identical to the base c8 for 40k more
Everytime I see a C8 I wonder if it was bought by someone recently a great deal or an early sucker that is getting wrecked by the market lol
I've seen ZO6 versions on Cargurus sitting for over two hundred days at slightly over $100,000.
C7
Great video. Could we do a deeper dive into trim levels?
My understanding is that the majority of cars tanking C8 markets are 1LTs which makes sense. As they're the least desirable.
Please please please! Part2! Lol
That’s true…LT1, non-Z51, and higher mileage. Used Prices are still high, but lower than MSRP.!
I can include a split by LT- and Z51 pack in the next update.
@fourwheeltrader that'd be amazing. I just picked up a 2024 2LT Z51, and I'd like to see what I can expect moving forward.
RS EGT order arriving in July/August but my current EGT lost tons of money.
The stats should now be normalized for MSRP. Prices of C8’s were all over the place over the past 4 years with dealers setting prices.
The math on this is a little skewed because the “sale prices” were massively inflated due to crazy demand .. but you look at an MSRP standpoint there is very little depreciation.. 2020 with 80k MSRP sell for about 70-73k
Great video
Interested in the market trends of dodge hellcat twins. I’m Considering buying one of the widebody trims.
Can’t wait for the C7 Z06 update!
I just hope there is a list of dealers somewhere that were marking up these cars at such an insane rate.
I think the term depreciation is incorrect, prices are coming down to MSRP or slightly below. This is pretty normal for any car, it’s just that Corvettes were marked way above MSRP initially.
I will never own a Corvette again. I hate being GMs R&D while they warranty everything to improve their product. Bean counters ruin everything at GM
dct sucks
That's been the case since the late 70's. GM has been about how they can maximize profits at the expense of quality, short-sided business thinking. Spend more money on campaign contributions and lobbying less on QC and engineering that allows them to get bailed out... they are still owing tax payers $11B that they stole from us hopefully they won't be allowed to do another "hit and run". Top heavy management implimenting very archaic/outdated strategies, unions bilikng all they can, terrible designs, terrible production quality... they are a name of the past putting forth sub-optimal products just like Harley. Thankfully unless they are allowed to steal more tax payer money they'll collapse under their own weight within the next 15 years especially if they try competing in the EV market any longer against Tesla and BYD
Your comment at 3:15 states reality. They may be falling, but they are still above MSRP
Not really - you can easily get a C8 for less than MSRP now without much effort.
A brand new 2024 corvette specd out to how I like (2LT convertible) comes out to $77k. That’s not 2 bad. All the ones I’m seeing at the dealers are like $85k-99k. At this point it’s better to order online.
Would love a Canadian assessment. I say because where I live in Alberta, Canada, almost none of your cars depreciate at the magnitude you describe here. Sports cars and super cars cost more than most places and don't depreciate very little, likely because there aren't many of them around.
How about Corvette C8 depretiation considering sticker price instead all time high? Could give me better comparison vs covid crazy prices
You can compare what you paid vs the current price level to tailor the estimate.
Can’t wait to buy a 2nd owner stingray for $40k in 2 years.
AWD Hybrid Volvo S60 has 455 HP, 0-60 4 seconds, 70 MPG, AWD 40Mile EV range, Regen Built in. How is it depreciating??? Why???
I bought a 2008 Z06 around 2019. It had 7,000 miles. $42,000 paid and $75,000 sticker. In 10 years, the C8 Stingray will be a 40,000 car, if they still sell gasoline then.
Seems like most all of em dropping like a rock . Cant believe the Ferrari Cali.T . Great cars but fall like a rock.im down at least 10% from purchase last year from what I see .
If you want a real Ferrari at an excellent price, look at 488's. Only a few years old and fast as hell, the routinely go for $210-240K right now which is ridiculous for the performance and presence they have.
@@993mike have real Ferrari says so right on the badge on Fenders ,and manualI. I have heard about the Ferrari snobs on all the You Tube test drives of the Cali T suggesting the same opinion of others but they are very wrong. I believe Ferrari started its heritage as a front engine car as well. Don’t know where it comes from or why but really didn’t care either I like the car for my use . I will bet the 488 at 210k this year will be 175 next year and so on . Is what it is . Think for the money may go back to the Vett Z06 which is out performing most Ferraris at twice the money and more for 145k and new Warranty .
I wish you had a website with this data available!
Work in progress.
@@fourwheeltrader Awesome!
Tough to swallow, but luckily I paid invoice on my 2023 coupe. $5k under sticker :) gives me a good buffer
They have to produce a lot of cars because that’s what they do, a lot of R&D went into the car and they need to get their return on their investment. If General Motors cut out the dealerships, you could get a two LT for 67,000 all day long.
I don't think the bottom is in sight, because the bottom isn't in sight for the car market as a whole. People right now have less money to spend, most are upside down in their current loans, interest rates are still rising, inventory is stacking up, MSRPs are still absurdly high, and the cost of living is inflated. People don't have money for fancy cars, and those that do prefer European makes.
Everyone knew as soon as the original rush was over prices would stabilize. The folks that bought and paid stupid money to get a C8 no matter the cost, now that insane rush is over , those that paid too much are going to lose money as prices fall . It's just common economics. It happens EVERY new Corvette version. I have watched it with C4, C5, C6, C7 and now C8. Pay too much, lose your ass.
My from Northern Michigan in a smaller town there's only a handful of Corvettes around in various generations now that the C8s are out they are everywhere chevrolet flooded the market with them they are a great car they don't really look like a corvette they look like a exotic car my C7 is a nice car it doesn't look like a classic corvette either I only bought it for the improved interior and the manual transmission
I don’t know where you are but they are getting higher here in western Ky and at a higher demand than I ever seen, not sure where your getting the price drop info…
I’m guessing we will see a decrease in value when the ZR1 is released too
Could you do a video for the s-coupe market?
Fell the pain who overpaid for them
I got my 23 c8 lt2 z51 coupe for for MSRP... Fun car while it's under warranty and than I'll probably sell it.
You can always get an GM extended warranty for around $1500.
@@yepyep6916 yes... The power train warrenty is good for a while. I just care about the transmission and motor under warranty
Oh c8 prices will go back up again especially if c9 corvette is not taken so highly and/or if people and the economy improve again . Demand for the car is high in general. The 70th Anniversary edition Stingray will maintain its original MSRP less milage. Roughly buyer enthusiasm and demographics considerations as well. The C8 Z06 70th Anniversary edition on the other hand will maintain 20-30 k above MSRP less milage on the lowest end of the market.
Keep dreaming.
Lol there are about 500 2022-2023 3LT corvettes for sale not including what's on the dealer lots😅
Can a car really “depreciate” to MSRP? Dealer near me still wants 40K over on Z06 and has five of them that customers didnt take delivery of.
M s r p doesn't matter it's what people are paying
@@Re3iRtHyeah, it’s what really stupid people are paying that actually drives the market.
Yea you should inquire around as some dealers will work with you. If you’re in LA NY Miami etc may want to look to dealers in areas with more practical people. One guy posted on here his dealer in NH gave him just above msrp
Im waiting for 2017-2019 SL63 prices to drop.. I dont fit in a corvette (too tall)... My neighbor has a 2023, I would probably buy one if I fit........ 911 prices are still stupid also..
Wow... and you think that is remotely intersting or that this is all about you?
The federal interest rate playing a huge part in depreciation
Lot of people don’t look at it that way, price is going down because interest rates are high, interest goes down price goes Up, even with low price you have huge monthly payment.
Yea the high interest rates make for high opportunity costs. But they wrecked the labor market during covid so still paying the price
Its a win win for the less fortunate used market😂
Really? Because in 2024, I still see 2020 base model C8's still selling for more than what they said was going to be MSRP when they were new.
Thats because they have raised the MSRP a lot over the years so its really hard to get good discounts off the original MSRP on older cars since the comparable value on a new car is higher even if you buy it at invoice.
@@MrAleB305 Which you would think would kill the used market. You can get them new for MSRP now. So why would anyone buy a, say 2021, when you could get a brand new one for the same price or slightly more?
@@ronnie_5150 The key difference is that they have raised the MSRP, if you are comparing a 2021 to 2024, add 10k base MSRP to the 2021 excluding higher priced options. The inflated new MSRP creates a buffer for the older cars to not drop since a new one at discount is still more expensive.
hundreds of newly imported immigrants are being housed in unsold C8s in Boston
I would personally take the last Dodge Viper over the C8
There’s too many on the market. Simple supply and demand.
Someone paying $220k for a Z06 is crazy. Its signs of too much available credit. The credit crunch will kill the market.
DON'T CARE.I got a 2023 HTZ/Z51 for MSRP and love it.
They decreased finally selling for MSRP way it should be. Lol!!
Is it really depreciation or are people FINALLY saying no to insane dealer markups?
Quality control issues across gm will stuff the price down even farther.
I personally don’t like it… it’s over done!
So, maybe they will be MSRP soon? Maybe you will be able to walk onto a lot and actually buy one - 5 years later?
Sounds awful
Theyre under MSRP right now for new models on the lot.
@@MrAleB305 give 1 example? Maybe a convertible with every stupid option that someone abandoned.
We all have the ability to search the nationwide stock of cars: with these tools, nothing is advertised below MSRP. Infact my experience (be it a few months ago) is that dealers show the MSRP, but when you call they add a 'market adjustment.'
Even if if you do find some example advertised under MSRP, that is one anticdote against every single other car on all of the online platforms.
@@jimdshealook at any big volume dealer, macmaulkin, ciccoa, etc, currently doing 6000 to 8000 of MSRP. Probably could get even more depending on your negotiation skills.
Every vehicle is plummeting
Targa Gts!!!! 991.1/2 or 992
So instead of 61 for the base, it's 31???
I call bullshit. Local prices in the pacific northwest USA are around 85/90k .
Local in other areas of the US are similar.
This guy is a clown.
The numbers are based on thousands of cars in the USA. Your sample of a local area might not be representatives for USA averages.
@@fourwheeltrader I looked at 5 local areas which encompass 18 states in 3 time zones. Your data is crap.
My wife has a Wisconsin accent like yours.
and we're supposed be to remotely interested? Wow...
@@slowery43 My comment was made in jest because he clearly doesn’t have a Wisconsin accent. Just playing the fool. Hope you feel better, I know life can make even the best of us lash out.
If this is true, Then show me all the titles in your name. Pound for pound c8's are the best car ever built in the U.S. ever. Per $$$$ This is coming from a Mopar person.
All used cars go down in value.
nah..i'll keep driving my Dodge viper..its way cooler
I only paid $79k well equipped 23’ so does not loom so bad
Would anyone buy a m2 over a c8 corvette? Serious question.
Yet we still have dealers marking up their cars SMH
I’m okay with that.
Here I am looking at a 2006 Lotus Elise with 35k miles for $46,000....
We truly couldn't care any less, this isn't about you
Used prices are still 20K more than what I paid.
Wtf are you talking about? Just checked Autotrader and the cheapest was 67k. 🤣
That's in line with the video 👍🏻
Just buy a Chevy Bolt!
Overpriced from get go..I will get mine in future
Lies.
👍👍👍👍👍😎😎😎😎😎
You should throw out the highest and lowest examples.
Rivian R1S/R1T
Lies
More C8 Corvette hatred from this 'Fourwheel Trader' guy.
What a hard on he has for the C8 Corvette phenomenon.
He comes out with this initial statement of "Convertibles from 2021 lost for example more than $40,000 since their market top".
YET of cause he declines to give an actual example of it.
NO 2021 C8 Corvette, be that coupe or convertible has dropped $40,000 from its rrp dealer sale price. Even the overpriced 3LT trim C8's have not.
Totally IGNORE this C8 Corvette hater Fourwheel trader guy, instead take a look at Cargurus at the used market dealer price of a 1LT trim C8 corvette.
Out of 800+ such C8 Corvettes of all trims the vast majority are over $60,000.
It is what that great performance car has always been, a $60k motor vehicle that holds its price up to 4 years later.
Of cause the more expensive 2LT and 3LT trim versions are proportionally not valued so much these days.
But they went against the core principal of what this car was all about.
VFM.
And they should have been avoided.
Buy the higher trim versions SECOND HAND, when the over priced prices will correct and lower.
NOT initially brand new.
It hardly ever pays, other than perchance initially, when buyer madness may well ensue.
The C8 Corvette is basically a VFM Supercar worth $100k upwards, to fortuitously for you all to initially be had for $60k.
Valued at $60k then as it is how it is now, all this time later, even with 50k or so miles clocked up.
Without doubt the 1LT trim C8 Corvette coupe, that was always THE one to go for, it DOES hold its price, it does hold its value.
Cargurus shows this, take a look for yourselves.
Of cause in instances some 3LT trim C8 Convertibles may well not, though of cause not to the extent of this $40k loss nonsense.
'Market top', it means NOTHING. Do not be so easily fooled folks.
SHOW ME one actual example of a C8 Corvette that has lost $40k more than its recommended retail price.
That was not a 3LT trim LOADED UP TO THE GILLS with all the egotistical, self value extras those with more money than sense acquired.
Other than that possibility, it never happened.
It does not exist.
Just misinformation from this Fourwheel trader guy with his hard on hatred for the C8 Corvette.
He knows nothing.
Hilarious. 😂
C8 looks too much like Italian cars. I would take a C7 over a C8. I drive R129's. a C124, and a C3 Vette.
It will plummet more
Garbage cars
Hm this video just focuses on what cars are worth now relative to what clowns paid during Covid? That’s lame. I can care less about that since depreciation was inevitable. I just care about dealer discounts off msrp.
I’d rather you talk the whole time than the overdub with the back and forth
lol corvette
Hahaha…. My 2023 Porsche Spyder is GOING UP IN VALUE, and it’s a much better car on many levels.
All so predictable that Americans drive cars will dive in value. Total scam from beginning.
are the spyders an allocation model? as in, are they difficult to get from a dealer without jumping through expensive hoops aka buying a bunch of other lesser cars to fluff the sales guy? I've owned a 987.2 cayman s for about seven years now and while it has depreciated due to mileage, it's not nearly as much as one would think.
The Porsche is a better price. If I had to chose between the 2 it’s the one I would get
I can buy a new C8 Z51 LT2 for about $80k…what equivalent new Porsche I could buy for that much?
@@yepyep6916 1) there is no equivalent. Porsche is better. 2) your crazy depreciation will cost you more than a Porsche in the years to come.
@@romulus_ you can only get a Spyder used now. But there are some with low miles.
the C8 corvette looks like a Toyota on steroids.