Resale on 2017 average

[Jim Cadle]

2017 C 7 whol auction prices base no adjustments LT 1 41500,LT2 44300,LT 3 41900. This is as of today Interesting

[JB]

Fwiw...the corvette ownership body is so fanatical with their vehicles ....pricing is dependent more on that factor than you will see on the usual sites like edmunds etc...

new car pricing on tje c7 from gm is holding steady with only a 15 percent discount for the most part.

most of those who bought in 2017 seem to forget that much of that year discounts were massive when they pirchased.

i remember 20 percent during 2017....so whatever the residual is in my opinion it should be based off of transaction price not including tax tags and licensing but inclusive of the discount off msrp.

fwiw i always look at cost of ownership over the first three years and do a comparison of what it would have cost to lease the same vehicle ...

if you are selling a vehicle in 24 or 36 months compare it to what a lease would have been and you'll enjoy selling the vehicle a lot more.

my dentist a young 40 year old dentist bought his 2017 beautiful grand sport m7 1LT for 56788...from les Stanford out in detroit...

he loves that car and is so happy...

two years later i bet he could sell that car for 50 grand..

his two year cost is 7 grand...his oer year cost is 3500 dollars...his monthly cost is 300 dollars a month..

he is not selling but where can you buy that kind of happiness for 300 dollars a month..l

even his wife who is not only beautiful bit sweet and also a successful dentist said to me...if she had only known a car could make her hisband so happy she would have bought him a corvette years ago....

all for three hundred a month

Even if it ended up to be double at six hundred a month which its not...what a great car!

btw wife shortly soon after. Got a 90 grand porsche macan...lol for his wife to travel with the three small kids to school.etc.

.she is happy too.

gm needs to build a corvette crosstrek cuv to capture that market ...big profitability in keeping our better half's happy.

corvette marketing are you listening?

i

[ZORA 69]

2017 C 7 whol auction prices base no adjustments LT 1 41500,LT2 44300,LT 3 41900. This is as of today Interesting

3LT is less than the 2LT ???

[JB]

I saw that too amd assumed it was a typo...but at auction we know very little about the condition.

it is often true in leasing vehicles...the basic vehicle tends to carry approximately a 50 percent residual on the basic vehicle after 3 years but options carry a 100 percent depreciation planned in at the start of the lease...

manufacturers can manage popular “value” option groups to also carry a fifty percent residual but over all options in general tend to depreciate fully within a lease.

that could be why auction pricing of 1LT , 2LT and 3 LT cars are priced so closely in this example.

[Jim Cadle]

Yes the LT# was lower.I was shocked.I am going to do a 5 year average later today.Keep in mind overal very few Vettes go through the auction.Cheers Jim

[V1 VR]

So question about sale process used.

Do do you trade in at C8 purchase?

Do you sell it yourself?

If you sell yourself what is the preferred platform?

local or national

[MikeC8]

I sold a ( MSRP $70K bought used )17 2LT Z51 with glass roof and black wheels for $48,200 about 3 months ago.

[MikeC8]

Fwiw...the corvette ownership body is so fanatical with their vehicles ....pricing is dependent more on that factor than you will see on the usual sites like edmunds etc...

new car pricing on tje c7 from gm is holding steady with only a 15 percent discount for the most part.

most of those who bought in 2017 seem to forget that much of that year discounts were massive when they pirchased.

i remember 20 percent during 2017....so whatever the residual is in my opinion it should be based off of transaction price not including tax tags and licensing but inclusive of the discount off msrp.

fwiw i always look at cost of ownership over the first three years and do a comparison of what it would have cost to lease the same vehicle ...

if you are selling a vehicle in 24 or 36 months compare it to what a lease would have been and you'll enjoy selling the vehicle a lot more.

my dentist a young 40 year old dentist bought his 2017 beautiful grand sport m7 1LT for 56788...from les Stanford out in detroit...

he loves that car and is so happy...

two years later i bet he could sell that car for 50 grand..

his two year cost is 7 grand...his oer year cost is 3500 dollars...his monthly cost is 300 dollars a month..

he is not selling but where can you buy that kind of happiness for 300 dollars a month..l

even his wife who is not only beautiful bit sweet and also a successful dentist said to me...if she had only known a car could make her hisband so happy she would have bought him a corvette years ago....

all for three hundred a month

Even if it ended up to be double at six hundred a month which its not...what a great car!

btw wife shortly soon after. Got a 90 grand porsche macan...lol for his wife to travel with the three small kids to school.etc.

.she is happy too.

gm needs to build a corvette crosstrek cuv to capture that market ...big profitability in keeping our better half's happy.

corvette marketing are you listening?

i

Heck I bought a new 17 GS with a ton of discounts including loyalty and 1 year later sold her and got back what I paid for it. Except the taxes I paid over the trade . 2017 was crazy with discounts for sure. That’s why it’s so hard to pay msrp today. I Tried to get $500 off at two dealerships and both declined. One said he had no authority and the other said some are charging ADM’s. Oh well.
I am hoping the GM card offers cash earnings in February. So far they don’t have any restrictions on corvettes. They didn’t on the C7 either when it hit the streets.

[V1 VR]

I sold a ( MSRP $70K bought used )17 2LT Z51 with glass roof and black wheels for $48,200 about 3 months ago.

How? Word of mouth, FBmmarketpalce, Bring-a-trailer Creags list, eBay?
I haven’t sold a car on my own in a long time just curious as to method used in this connected market place

[ZORA 69]

I saw that too amd assumed it was a typo...but at auction we know very little about the condition.

it is often true in leasing vehicles...the basic vehicle tends to carry approximately a 50 percent residual on the basic vehicle after 3 years but options carry a 100 percent depreciation planned in at the start of the lease...

manufacturers can manage popular “value” option groups to also carry a fifty percent residual but over all options in general tend to depreciate fully within a lease.

that could be why auction pricing of 1LT , 2LT and 3 LT cars are priced so closely in this example.

And believe it or not alot of Hertz rentals seem to be 3LT cars. The only option in resale that helps a higher value on these cars, not talking about ZO6 cars is the Z51 PKG. It helps sell the car in retail situation and always seems to boost wholesale values at auction. What you are ordering, a 1LT with Z51 with a few options is the smartest move for resale. The creature comforts add alot of expense you do not retrieve on resale. Most do not care and want the luxury . I look at the 2LT package differently than most. I see certain electronics that may not work down the road needing costly repair and something I do care if I have. I can see myself down the road selling a car with a heated steering wheel that doesn't work and the buyer beating me up for a few thousand dollars when the real value at the time of the WHOLE 2LT PKG is $1200. I just want a base sports car with the Z51 PKG and a few accent options . If I want creature comforts I'll drive another car that has them. I am a little bummed that the 1LT has a constraint as a whole and I have a low number with MacMulkin. I do not understand the reasoning as I thought constraints were for vendor issues. Is it because GM is trying to get everyone with lower numbers and are anxious to step up to the 2LT.
Sure was counting on having this car for the second weekend in March for the Concourse d' Elegance in Amelia Island.

[Jim Cadle]

I did a little follow up on priceing on the auction 2016 through 2018 and I founf the same thinf although not the extreme that was in 2017.Again the LT 2 does show best auction prices with the LT 3 showing secound best.
Cheers Jim