C8 CORVETTE MARKET COLLAPSE - Exclusive Dealer Wholesale Market Analysis
Vložit
- čas přidán 22. 07. 2024
- C8 Corvettes are NOT SELLING! Today we break down some metrics and data from exclusive dealer only auctions to truly understand how far the Corvette prices have fallen. DO NOT PAY OVER MSRP for a C8 Corvette Stingray.
How much will you lose driving a new C8 Corvette off the lot? Today we find out.
If you like this video, please like, comment, and subscribe!!
Corvette MSRP Group:
/ 873842844060378
The official Jump Squad Auto Channel:
/ jumpsquadauto
The official Jump Squad Gaming Channel:
/ @jumpsquadgamingchannel
Follow me on Instagram:
/ jumpsquadauto
Check out my Facebook Page:
/ jumpsquadauto
-------------------------------------------------------------------------------------------------------------
Check out the latest Corvette News:
• Corvette News
Check out some cool C8.R Corvette Content:
• Corvette C8.R Life
Check out some cool C8 Corvette Content:
• C8 Corvette Life
Check out some cool Ram TRX Content:
• Ram TRX Life
Check out some Ford Raptor Content:
• Ram TRX Life
Check out some Rocket League Content:
• Rocket League
Check out some Fortnite Content:
• Fortnite
Please subscribe to the channel. I would appreciate it. Thank you for watching!
#corvette #c8corvette #jumpsquadauto #automobile #cars - Auta a dopravní prostředky
Finally! There is a glimmer of hope for average people to be able to afford a used C8!
False hope. I work at a Chevrolet dealership and no c8 is selling for under msrp and we put some type of markup on them. You can get out of it with a trade in and finance from us. On a regular c8
No it isn't. The c8 has gone up 10k MSRP in 3 years. The Z06s are 200k in actuality. Disgusting
Great video thank you.
Great video jump. I just need them to drop another 50% and I can afford one.
Haha. Have to think that some day they will be first cars for high schoolers many years from now.
I think you are dreaming!!!!😄
Only thing that will help if the interest rates go up, and lots cant afford it, also after the strike watch the price to go up 5-10 k! Because can't see the big wigs of Gm taking a loss of pay! So guess who will pay more!! Hello !!! Duh You!!!!
@@howardmenkis5252 let me dream
Thanks for the content
Thank you for watching
Great information! 👍👍
Thanks for watching!
Things were bound to turn downward eventually, just stinks that it's been so volatile recently.
100% agree. Thanks for watching
The C8 Corvette is a mass production car, so let's not compare price trends to Ferrari's...In Houston I've seen discounts off MSRP of $5,000! With used Corvettes especially C8s sitting on market for 90 plus days. Be a smart buyer, I'm fairly certain the seller will not be upfront about falling market price trends.
Fantastic content…but then I’m a numbers nerd too. Would love to see content that focuses on the most popular, and pricey options, e.g, Z51, front lift, and magnetic ride, on a base 2LT. Also, if any, impact of these options on 1 vs 2 vs 3LT variants. Also base 1 vs 2 vs 3 LT price trends. Thanks again for such intelligent videos. I’ll be watching from now on!
Thanks man. They don't break down the whole sale data by option I don't believe. I will ask and confirm. They stop and trim and color since every make and model go through the auction so I imagine option tracking would be data overload haha.
The federal reserve told us to expect demand destruction. Thanks for sharing 👍🏻✌🏻
Cool information thanks for sharing. I would be interested infurtherc8 marketplace adjustments.
Thanks for watching. I'll routinely try to get the data and share if there are big adjustments I notice.
Also, losing money buying a new car has always been a reality
100% agree. Gonna be fun watching these mark-up price gouging dealers struggle as they alienated so many customers over bad practices last few years.
@@JumpSquadAuto When the 2020 first came out, a dealership locally to me had a 52k markup. I refused to pay it, I was willing to wait over 2 years to get one at MSRP.
never lost money on my Vipers, pay 90k for my current 2014, easily can sell it for over 100k
Come to Fl, you’ll change your mind pretty quick.
Well I figured I was easily loose $20k when I drove my 2024 off the lot. Glad to hear it's not the much. 😅 In reality the corvette is in the top 10 of vehicles holding their resale, if you really care.
Haha 2024s are so new so notuch value lost there. They have been good value holds. Exotics are taking the biggest beating.
Sup bro. What about the Canadian market? What prices should I expect to pay?
Hey. This data is specific to the US market. I don't have any good data on the Canadian market. Sorry. Morgan crosbie on his channel over at Finch Chevy might be a better source for the Canadian market.
Depends which country where you are or city, I know in Canada and my city it's way different, as the allocation we get are very low so the price did not go down as other parts of the world!!! Can't even get allocations for the zo6 or the ERAy!
Regionals variation also factors in as well. Good point.
@@JumpSquadAuto ya I wish! In Canada anything over a hundred k msrp you pay a 25k luxury tax on top plus our 12% taxes! So ya if you see 🇨🇦 driving a vette you know they paid way more than the States!!!
Have to have money here to drive a fancy car! In States your cost of living way cheaper!!! And if interest rates go up more that knocks kits out to afford one! Even though on average we make more.
In Canada for a 3lt convertible you are looking at 150k$🇨🇦 if you can even get a allocation for a c8!!
Thanks for the info. This is not good news for me. I was considering selling my 2022 C8 and buying the Eray. Hard to justify the loss of value on top of the 140k cost of my build.
The base price also went up today which probably doesn't help your decision. I am considering skipping the Z06 and E-Ray and going to something else myself.
yes
paid sticker for a stingray and just traded it for a z06 at 15k over. I hated to pay a markup, but feel like z06's will hold 10-20k over for atleast another 12-24 months which I will then sell when they start dropping.
Z06s are holding strong right now. Can't seem them really coming down to MSRP anytime soon. Congrats on your new Z06
agree with your logic. 12-24 months is the projected timeframe to see them at or near MSRP
Z06’s are already available at MSRP 🤦🏼♂️
@@TheeAaron that is rare. They are still selling over sticker. Also same thing happened with stingrays when they first came out…winter dip then demand went back up in spring/summer. They are still selling over sticker on bring a trailer for the right spec…
I’m looking at a 2023 used convertible 2LT MSRP $90,100 with 5,000 miles. Current dealer asking price is $89,100. What do you think I should offer?
The numbers on this video are wholesale so retail is naturally higher for what the dealer wants to make profit on. It all comes down to is it the spec you want/love and how long do you plan to own it. I've seen a handful of new cars listed for 2k-5k below MSRP with most dealers now at MSRP hoping to move it. If you can order something at MSRP and get it in 2-3 months, why pay 1k less and get a 5k mile used car right. So the question is how much of a savings is worth skipping the 2-3 month wait and the used miles. I personally would not go over 85k on that car. And that's if its my exact spec and I needed a car right away. Have to factor in new vs used car interest rates as well. That extra half-1 percent is a few thousand over the course of the loan.
I just got a text from the Chevy dealership. They said they have a Z06 ready to go, can you imagine the texting people if you’re interested
I put $5K deposit on a 2024 C8 at MSRP ($93,300 spec), and it will be available for pickup in a couple of weeks. Is that a good deal and will resale be a nightmare in 6 months. Though, If I walk away I lose my $5K deposit. One other issue that I wrestle with is, I have never owned an American car and am a tad nervous about owning one. I presently have two 2024 Porsches and have owned in total 4 Lamborghinis' and 5 Porsches and they have been bulletproof. Thoughts?
Ordered cars seem to still be MSRP at the large dealers. I haven't seen any dealers order for below MSRP. Below is an on lot spec. Losing your 5k is probably not worth it to then buy another at 5k below. Puts you in the same place. Hard to tell where the market goes in 6 months. I think your trade could be anywhere from 8k-15k below MSRP cause only then can that dealer turn around and sell it for 5k below MSRP and make a profit and price it to move. Hope that helps.
Thanks for the helpful feedback. What about the reliability of a 2024 C8? Have many of the bugs been eliminated in the 2024 model year?@@JumpSquadAuto
@@albertbrooklyn I've had 3 C8s and have had little to no issues with any of them. The 2024s have been having a transmission issue for a batch of cars. They have been addressing it at the plant or shipping them to Lansing Michigan to be fixed. I wouldn't be worried about it due to the warranty taking care of things and Chevy is pretty good at addressing any issues.
I paid less for my 2020 HTC than your projected coupe value next month. Not bad. I’m not worried since the new prices have increased so much that by build is now 20k
…… more than I paid. It should protect from too much loss.
But the fun factory still at a high! Gonna supercharge mine to make soup out of the M8 competition. Some suspension tweaks too! Boo ya!
LMR does some pretty crazy stuff with their procharger kits. Callaway is more tame and really expensive but warranty so thankfully lot of cool options out there to get more out of the stingray. An M8 just needs downpipes and a tune tho to become an 800hp animal
Wow, so my 2022 C8 is turning out to be just like any other car in the market? 😢
Current Market Conditions being what they are?
Does it make sense to continue to buy a ZO6?
At least my dealer is selling at MSRP.
I’m #2 on their list, please don’t tell me it’s the 💩 list!
Enjoying your Vlog as always.
Have you (Sure you have) seen the Shelby F150s?
725 Horsepower I think. Will that compare well with the TRX?
You are a Truck Guy as I recall from your previous Vlogs.
Me, not so much, but I have an F250 and plow for PA winters.
Unfortunately your going to pay the increase for 2024. Other than that it’s if your buying at MSRP you are doing great.
Hey. Hope all is well and your health is good. I'm a truck guy at heart and so Im considering a new TRX to own for a long time. The Shelby f150s are nice but kind of upfitter built so quality is very blah up close. Might go GT500. Z06 at MSRP is still a big win. They are retailing 20k-30k over MSRP right now. Down a lot from a few months ago but at MSRP....can't see it losing a ton of value from there.
@@JumpSquadAuto they made 5053 Z06’s in 2023. I didn’t think they would make over 1500. I’m going to leave it out there until the first snow. Did GM give you any points for hanging on to the Escalade? If so make sure you register the car in the program. I was late and GM is making me wait 6 months from registering not purchase date. It is messed up. Keep them coming. You got good mojo. I’m in Boston just for today. Beautiful fall day.
@@thereissomecoolstuff Yeah thats a ton of Z06s this year. I think 1000+ came in the last two extra months of production. No points on the Escalade and since its a non-V I can sell whenever. You willingly came to Boston. You have my apologies haha.
@@thereissomecoolstuff where did you get that 5,053 Z06's in 2023? I heard it was 3,723.
These people have been saying the c8 is dropping for over a year now. I really haven't seen that. You do know the 2024s are a huge price increase and the strike will only raise the prices. You can get a high mileage beat one for a little under msrp but not a new one. Some still charge a mark up. The points he made cause people are buying zo6 c8s how many people can afford those or the eray? So they will go for the stingray. There is a chance to find one at msrp but good luck with that because they sell very fast unless you order one and wait but as i said 2024 base is about 70k now and don't forget about the beautiful high finance rate. I didn't listen to these people and bought one fully loaded convertible march 7th and had a blast. My same spec now if i bought it today would be at least 10k more just the price and if you finance your really in trouble. Buy what is in your budget and don't listen to these CZcams guru's. If you bought it 7 months ago prices were better and rates were lower so you'd get a better price as i did. Now they are very expensive and in some cases not worth buying with price increases. They went from base in 2020 at 58k to base in 2024 70k with also options being more money and finance at around 8% if your credit is good. Good luck buying a new c8 now
I helped a friend this week find a new C8 Corvettes for below MSRP on the lot. He was flexible so took about 15 minutes to find one 2k under. Finding MSRP on the lot for a stingray isn't just easy, its a walk in the park. Finding below MSRP takes some work but those deals are out there and growing by the day.
@JumpSquadAuto in 15 minutes ahh? Well you should open a c8 buying under msrp service because I went looking with my friend that wants to buy one it's been over a week with a few hours a day and not even one under msrp. There was a msrp one by the time we got at the dealership was already sold. It sold within 30 minutes of arriving and the others had a 10k mark up on a base model. We offered the dealer msrp he laughed at us saying it will be sold within a few day's and said he could talk to his manager and see if they'll drop it to 8k mark up as a good gesture. We walked out because of his rude attitude. You can not get a new c8 for under msrp i do not believe that for a second because at msrp they don't last a day at the dealership and under msrp why would a dealer sell something so high demand on sale that people wait up to 15 months to factory order it to get msrp or a lower mark up. how does that make sense? Before I bought my car I was looking for a year, after I bought my car I would still check prices almost every night. So I'm very informed at prices. Maybe by where you live it might be different even though I would check Nation wide, but under msrp your just giving people false hope and sending them on a doomed journey that will cost them more money the longer they wait. There was a big price increase for 2024 so new c8s are not going down but going up also with financing going up they are to high now. If you bought the same c8 spec 2023 it would be much cheaper don't take my word for it take Chevrolets word for it go on the building website and see how much more a 2024 is compared to a 2023. So new c8s have gotten more expensive not less expensive.
@@nikosky4028 just cause you aren't able to do it....doesn't mean others can't. I've had 3 c8 corvettes now. Only uninformed buyers are paying over MSRP. The intent of this video is to highlight the current Corvette marketplace with real data. I pointed out a group in this video who have shared 5 msrp deals for new cars today and one slightly used 2023 for below MSRP today. I covered the price increase within seconds of it being announced and was the first person on CZcams to break the E-Ray mpg and stingray mpg increase for 2024 yesterday....I love these cars and follow them very closely.
@JumpSquadAuto it's hard to buy them for msrp in the show room. They are out there but go quick, and there are very few of them, And by you saying uniformed buyers your insulting alot of people as probably over 90% bought their car with some type of mark up unless they waited a long time for it to get built. I payed only 2k above the price but I got it right away and the spec I wanted was on the showroom floor. I had to talk them down the mark up was alot more so it was there for awhile that's how I got lucky. I got mine march 7th enjoy it all spring, summer and I'm still driving it. I think if a mark up isn't to high and it doesn't effect you go for it and some will work with you if the mark up is to high and has been there for a longer time. You never know what tomorrow will bring life is short enjoy today. I could of tried to order it without a mark up and probably would still be waiting for it and would have enjoyed it next year as this year would have been a lost. I do have other cars but I wanted to experience the c8. So I think it depends on the person if they can afford it and a mark up won't effect them go for it, if you can't afford a mark up then wait or look or whatever you are able to do. Have you seen the c8 zr1 photos yet? It looks very nice. I wonder what that will cost. Will you be doing a video about the zr1 I'd be interested in checking it out.
And that's the rumor this video is dispelling. It's not hard finding MSRP anymore. The market is turning and demand is slowed down. The wait time for a new order from Macmulkin is now 3-4 months. It's been around that timeframe for several months now. Some people are happy paying over MSRP and nothing wrong with that but this market has changed very quickly in the last 4-5 months so if spreading the word saves someone money then I'm gonna spread the word. Driving a brand new C8 3LT off the lot at msrp is an instant 5-8k loss. Last year it was a 5-6k made. It's a big swing. I did talk about the zR1. Check out some older vids around ceramic prices, mods, etc. I've covered C8s for almost 3 years now. Amazing car for the money
You hit it all. You know it and your living it with the interest rates. I have had my Z06 for sale since July. 3 bites nothing serious. That’s with a car with 5 miles total on it. I’m going to eat $47k if I’m lucky enough to sell for MSRP. Are you selling the TRX? Hmm might be a good trade.
I wish I traded the TRX in before the summer. I'm considering trading the TRX for a newer 2023 or a GT500. GT500s seem to be holding well. Z06s are selling for around 20-30k over it seems on the retail side. You should have no problem selling the z06 for 20k over to a dealer. Not enough z06s have gone through whole sale auctions for detailed metrics but few that did were about 25k over in recent weeks.
Are you in new car sales or just Z06 speculation? Hope it works out for you in the end. Not sure many will feel sorry for you about overpaying and thinking you could find another sucker with more dollars than sense.
I don't not feel sorry for the flippers losing money.... it's what you get for trying to be greedy
@@pryerpalm10103 Greedy? No more like opportunistic. It doesn’t matter. If you run in the big dog world like Jump Squad losing a couple of stacks doesn’t matter. His girls will make it back for him. He’s that pimpin.
@@davidryder5082 no I’m just a car dude. The car is paid for so it’s not costing me more than insurance. It would be nice to break even but it’s looking bad. GM screwed the Z06 buyer when they didn’t tell us the ERAY would have the same body. I would have never bought one with that information.
Oh yes they are giving them away now😂
got to thank all those people who overpaid ro get a mid engine my dealer in ok is selling for msrp no mark up
Every car person knows that the C8 is not the first “mid-engine” Corvette. If the engine is behind the the front axle it’s mid engine. From the C5-C7 the Corvette has a true 50/50 weight bias. Sure the C8 really bites off the line but the front end steering is very different from the previous generation. JMO.
They just increased the MSRP by $2000 and some added options costs.
Maybe they saw my video haha
I don't know where they're selling 20s for 80 to 90 idiots still paying crazy money
A lot of dealers being upside down on cars is making retail seem higher then it is.
@@JumpSquadAutoI bought my 23 c8 in July of 2022. Sold it after several months and almost 6,200 miles. It overheated and dealership said "drive it until blows up". Bought it for MSRP and sold it for what I paid. I bought mine to drive daily and was upset about selling it but it ran up to 280 degrees. Think in another year or two might be able to find one on a lot. Maybe at a discount until that time I will buy a few other vehicles. You tried to help me in March when I was experiencing the service department b.s. thanks man still appreciate it and you
@@davidryder5082 what a horrible dealership response. Yikes. Glad to hear you got out of that troubled car. Right now every cars values getting hammered. Be interesting to see what a used stingray will be in another 6-10 months
Good info but a little heads up before anyone thinks a whole bunch of Landscapers and Amazon workers will be driving and keeping them. No matter how many people are relegating this car in the performance arena to a Mustang, the real VALUE in sports car performance is still there and highly sought after. A Z51 Stingray is better than ANY FERRARI 458 on the street or track, AND THAT IS BEFORE THE AFTERMARKET. We are now witnessing PARTIALLY track prepped Z51 Stingrays running 991.2 Porsche GT3 times on tracks around the country, and gear heads wont let that pass their knowledge. The car is a world wide seller, and there are other markets that are begging for this deal. This car will always hold its value.
good points
Thanks for the confidence ❤ i needed this since I’m ordering one literally today at MSRP
I owned 8 vettes in the last 12 years my current is a 18 C7Z06 modded by Cords performance in AZ. The C8 has to be the ungles Corvette built the Z06 look decent but the base models are horrendous. Owners have to spend thousands in aftermarket parts just to get them to look good hard pass for me my C7 will destroy any C8 even the Z06. The interior is very small and the layout is just odd with all them dam buttons down the center console. I have seen some that have been done up nice by LMR but the owner had to spend a boat load on money on them. The C8 is not in the same league as anything built by Ferrari sorry that the sad truth.
@@LVRaptorR717 C7 series cars look nice as well , but the C8 still stands out in the crowd at car shows with its JET FIGHTER looks.
believe its cordes.. concur with your C7 to C8 comparison but dont let the C7Z06 secret out too much though im in the market for a 19z07@@LVRaptorR717
I work at one of the biggest Chevrolet dealerships and we do not sell any type of c8 for under msrp unless it is used a couple years old and a few thousand miles on them but new no way. You people need to stop these video's for your benefits because it is giving us headaches at our jobs with people thinking they can get a discount on a new c8
lol. What dealer? You have access to Manheim. Confirm for yourself. Just cause the video shares factual info so your customer is more informed....don't get all upset.
Do you need a "Whambulance" It called negotiations, floor plans are costing dealerships money, interest rates and lower credit scores debt to income ratios. I could go on and on I can afford to buy I choose not to over pay.
Because they can get discounts on new c8’s genius
Not having a break down between Coupes and HTC is a total fail.
Unfortunately, the only ones that benefit from this theoretical "crater" is the dealer! The dealer will still maintain their pricing. They see profit margins! The normal customer does not see this! The auctions being referred to are DEALER AUCTIONS not open to public. So it is irrelevant to us normal average customers
Couldn't be further from the truth.
The C8 and all of its variants are nothing special. Chevy could have sent of internal combustion vehicles with a bang ... but didn't. 911 turbo s is faster than the stingray , Z06 and the Eray. At least one should be faster . The Gt3rs beats them all around a race course. 😮💨 then they raise the prices ? 🤣🤣🤣🤣
Too High
get your numbers correct. what you say and what is depicted on screen dont match.
I must have misspoke. Sorry about that. The screen is the accurate data. I must have missed a misspeak during editing.
i understand editing is unbelievably time consuming@@JumpSquadAuto
If you are such a number nerd? Why are your numbers incorrect? C8 corrects have actually gotten more expensive over the last 2-3 years. Now GM has just now announced the there will be a $2k price increase because it was a tuesday.
They aren't incorrect. They are actually transaction data. What does price increases have to do with their market value? Just cause GM raises new car prices doesn't mean used car prices aren't collapsing. Like the video states....the whole car market is down. Stingray is outpacing that price drop.....you must think the whole car market is in on this incorrect lie? lol
@@JumpSquadAuto No actually I watch the automobile market from the customer side not the dealer side and I watch it daily. Used car prices are up across the board. The only thing about to collapse is the stock market. The $2K increase in price makes a difference albeit a small one due to it being transferred to the buying customer. If the customer keeps the car for say 12 months and decides to sell, they will sell based on what they paid first, not book value because roughly 75 of people car shop blind and dealers know it. I have worked in several dealerships in my career and seen this play out a thousand times. Numbers get manipulated all the time. In a dealership it is usually finance, upper management and the owner who know the true status. But if like you say the car market is collapsing? Why on earth would they raise the cost of vehicles? Look at these stingrays hitting the lots! 600 miles 1100 miles and they want more for them than when they were first purchased!
@@jasonconley771 I look at consumer and dealer. numbers are numbers. I outline the dealer side variation in the video as well. Your comment about "Used Car prices are up across the board" is very much not true for 2023. Maybe over a 10 year period but thats inflation.
@@jasonconley771 www.gobankingrates.com/saving-money/car/used-car-prices-2023-costs-falling-now-time-to-buy/
@@jasonconley771 thehill.com/newsletters/business-economy/4144606-used-car-prices-drop-again/
The C8 is old news and over priced. By the time more and more people get their hands on a Z06 it will be a snooze fest. The average 2LZ Z06 definitely is not worth the average of 120 grand. Absurd. I pulled my deposit at Ciocca when I found out the 2LZ convertible I had spec'd had climbed to 130k. Utterly ridiculous. My restored 69' Stingray convertible turns more heads than any newer generation corvette that's for sure.
I'm right there with you man. Its not even fun buying a new corvette anymore. Like you spend all that money to stand in a line in sub zero temps, wait years, have to pay thousands more then advertised, cant even order your spec cause half the items are on constraint, get passed over routinely for price gouging dealers to get retail stock orders filled.....to then get to your order and hope the dealer doesn't play games. Crazy
The whole auto market is overpriced and bunch of junk
The ugliest corvette car ever made. Yuck yuck yuck...