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C8 Depreciation

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  • C8 Depreciation

    I was just reading another topic where the OP suggests $50K depreciation in 3 years on the C8. I know that this is a mass produced car, but with the anticipation I'm not seeing that kind of loss until we get 5 plus years in.

    John or anyone with factual knowledge on C7 depreciation on the first three model years; any solid info would be great. I prefer to not turn 80K into 30K that fast...

    Cheers, David

  • #2
    I ve sold my 2016 2lt C7 last week. The car was in "new condition" with acs composite add on. The car have never seen the rain.

    I paid 82k in 2016 and i sold it for 50k. That give you an idea of the value but dont forget that the car was like new and never accidented.
    Torch Red HTC with black top and nacelles, Non Z51, 1LT, perf. exhaust. Splash guards, front lip & rocker panels. Bright red calipers mirrors and Z51 spoiler. Edge red and carbon flash hash marks


    • #3
      I sold my early delivery 2014 C7 a few weeks ago in anticipation of receiving my C8 in April (TPW 2/24). I figured it would be easier to sell it before the winter snowfalls. I puchased it for $68K and sold it six years later with 30,000 miles for $38K.
      Sebring Orange Tintcoat; 2LT; black interior; GT2 seats; front lift adjustable height; performance exhausts; engine appearance; Spectra Gray Tridents; Red Calipers; Orange seat belts;


      • #4
        If I was estimating, I'd normally say 15% - 20% first year then 10% - 12% per year thereafter.

        In the case of the 2020 C8 I'd be thinking that the first year will stay pretty flat then drop off more sharply in 2021.

        Presumably the Blue Book could give guidance on typical C7 prices.

        I just traded my mint very low mileage C6 GS and in retail terms it lost 10% for each of the three years I owned it.

        Or $2.00/Km in depreciation
        Last edited by Bikerjulio; 01-11-2020, 06:55 AM.
        2020 C8 Corvette
        Shadow Grey Metallic on Black
        2LT, Z51 + MRC
        Spectra Grey Tridents
        Carbon flash mirrors and spoiler

        I'm a Rat and so is my car! (a reference to the Chinese astrological calendar).


        • #5
          Working the math,
          Felatos: 50/82 = 61% orig value so he lost 39% over 4 years or 15.2% per year
          JPD111: 38/68 = 55% orig value so he lost 45% over 6 years or 7.5% per year

          This analysis obviously takes nothing into account other than resale price and years of ownership, and depreciation is not linear, but the obvious conclusion is that cars/boats/planes are terrible investments. Buy it for the *fun* and if you’re worried about how much your car is worth, you’re stealing your fun.
          Vin # 2539
          Torch Red LT2 Z51


          • #6
            With that kind of depreciation, I may as well beat the heck out of it.
            C8 Coupe, Zeus Bronze, 3LT, TU7, HUE, GUI, CF7, EFY, EYK, J6N, NPP, E60, STI, VQK


            • #7
              I think the OP in the post referenced was making a point about not worrying about depreciation. He was going to get a loaded car, drive the snot out of the car, enjoy the hell out of it, and not worry about the depreciation, even if it's significant. I didn't take it to mean that was a mathematically derived forecast of the car's future value.

              I think Bikerjulio has a reasonable projection.
              Atomic Orange C6. Plenty of engine and suspension mods.

              C8 HTC with Z51 FE4. Bumped to a 2021.


              • #8
                I been doing this for a while my educated guess it all depends on how many GM produces and what changes occur during the C8 lifecycle. It’s hard to gauge, timing, miles, options and how well maintained your C8 is when deciding to sell it. The C7 is not an accurate gauge, the C8 is attracting an entirely new audience during a time when mass produced sports car purchases are on the decline.
                • 1st year 2020 the C8 will be in high demanded. C8 is being released later which will help. 0 depreciation from MSRP to a gain if sold in time & if GM does mid year price increases that will only help. Those worried about depreciation should sell in 2020 this is your year to gain or maybe lose no money. Taxes are not included in my estimate.
                • 2nd year 2021 the C8 Base will be competing against anticipation for the new Z06 & GS wider body. 2021 will see a minimum hit of 10% off MSRP.
                • Beyond year two is a guessing game and no one truly knows what will happen. The auto industry is in a complete transition, with SUV and electric car domination. By end of 2020 we will be able to get a better analysis on the C8 future depreciation.
                Last edited by Fasttoys; 01-11-2020, 08:40 AM.


                • #9
                  Originally posted by LightningBolt View Post
                  Working the math,
                  Felatos: 50/82 = 61% orig value so he lost 39% over 4 years or 15.2% per year
                  JPD111: 38/68 = 55% orig value so he lost 45% over 6 years or 7.5% per year

                  " but the obvious conclusion is that cars/boats/planes are terrible investments. Buy it for the *fun* and if you’re worried about how much your car is worth, you’re stealing your fun."
                  I must agree. I've lost $75,000 in the last 6 years on 3 Corvettes after buying them 'really right'. I do hope to like the C8 enough to keep it long term.

                  I guess you can put a price on fun.

                  '64 Silver Grey Coupe (custom paint)- still our favorite
                  '77 Black L82 / 4SPD
                  '78 Silver Anniversary L82 / 4SPD
                  '13 White/Blue Diamond 427 60th roadster - favorite late model
                  '14 Black Z51 Coupe
                  '15 Shark Grey Z51 Coupe
                  '20 ... Zeus Bronze Coupe, 2LT, GT2 seats, Natural two tone, Body color accents, Pewter wheels

                  Ordered 7/28/19 / 2000 3/12 / 3400 9/19


                  • #10
                    I've never purchased a vehicle with depreciation or future value in mind.
                    1966 coupe - Sunfire Yellow / Black
                    2004 Z06 - Millennium Yellow / Black

                    NCM Lifetime Member since 2003


                    • #11
                      Originally posted by brad66 View Post
                      I've never purchased a vehicle with depreciation or future value in mind.
                      Ditto. I purchase my Corvette to put miles of smiles on it, and a skip in my heart every time I think of it.

                      I will be selling my 2020 Stingray at some point and getting a Z06. Whatever I get for my Stingray will be applied to my Z. I always take excellent care of my Corvette, so whomever buys it will be delighted with it.
                      GBA Black; HTO Twilight/Tension interior; Z51 & Mag Ride; E60 lift; 5VM visible carbon fiber package; 5ZZ high wing; FA5 interior vis CF; ZZ3 engine appearance; 3LT; Q8T Spectra Gray Tridents; J6N Edge Red Calipers; SNG Edge Red Hashmarks; VQK Splash Guards; RCC Edge Red engine cover; VJR illuminated sill plates. Lifetime, annual contributors, and 22 year members of National Corvette Museum. Home is the beautiful Pacific Northwest.


                      • #12
                        One advantage of nor being in the first wave of buyers is, you have some actual field data when you buy. If the initial cars have a high rate of depreciation and loss of market value in two years (and it sounds like a lot of the first wave buyers here intend to trade up when a Z06 becomes available) I may just decide to buy used at a bargain price.

                        I also like BMW cars, but would never buy a new one. They depreciate so fast, you can get a car coming off of lease after 3 years for a little over half of initial MSRP.


                        • #13
                          I expect to sell it in a year or two for about 45...paid 65.....the sales tax of 10% is what annoys me...….


                          • #14
                            I will do as I did on one of the first wave of C7 owners. If I love it I’ll keep it and the hell with depreciation at my age ( over 65 ) If not I’ll sell it within the first 6 months ( like the C7 ) and get most of my money back. Wait for an upgrade like a GS or just move on. Can’t imagine not loving it however. What else is out there ( mid engine ) at this price point and looks this good ?

                            Owned a lot of recent front engine used performance cars. Jags F type R , BMW. M , Shelby GT 500/ 350 and Corvettes. Been waiting a long time for a current Mid engine performance car for under $80K. Talk about depreciation look at most mid engine new sportscars in the market today. Tremendous depreciation and maintaining after warranty is up. At least the jaguar F type had a bumper to bumper warranty for 4 years with free service.
                            Last edited by MikeC8; 01-11-2020, 10:37 AM.
                            RED ,C8. 2LT wheels and trim. .... Order status 6000 car is home in garage


                            • #15
                              Trying to do the math for depreciation using a C7 as an example I predict, will be way off. This is a totally new beast to hit the street and the MSRP is bound to go much higher in 21, 22, and 23. I expect that depreciation in the first 3 years will be about 22 percent based on 5k miles per year 28 percent at 12k per year. The economy will have a great effect on those figures so anything can change. I plan on keeping mine so I don't really care. The only reason I will get rid of it is if I'm so obsessed it will make my wife mad and I'm scared to drive it in fear something will happen to it.
                              Last edited by Baja 405; 01-11-2020, 12:35 PM.