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Official C8 Owners Manual, Build and Price, Visualizer, Pricing, and Ordering Information

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C8 Depreciation

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  • #31
    I just noticed on my early c7 the 2lt was 5k but Z51 was included in the sticker price.....

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    • #32
      Originally posted by brad66 View Post
      I've never purchased a vehicle with depreciation or future value in mind.
      Me neither. While young I always looked for an old man who took car of his car which he wanted to sell after a few years. The old man only drove the car on nice days and always changed the oil and other maintenance items. He also kept it clean and garaged. That's how I saved on depreciation as I would buy the old mans car. Now I am that old man so when I sell the black rose someone will get a super buy. Charlie aka cutnout

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      • #33
        We bought our 1998 Camaro SS new in 98 for about $35,000.00 We never drove it in the winter and took great care of it of course. Because of all that I sold it 21 years later for $11,000.00 That works out to a little less than $1,200.00 per year. If I was told I could enjoy that car for 21 years for 1200 a year I would be ecstatic. Guess what I will be doing for the next 21 years?
        Last edited by Murray20c8; 01-12-2020, 04:21 PM.
        Murray - Uxbridge, Ontario, Canada
        Torch red coupe, Adrenaline red 2LT Q8Q E60 NPP

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        • #34
          10 sets of tires. 10 sets of brake pads. One lap of America with various track days, 100,000 miles , 5 years, and it’s gone. don’t care what it’s worth. It’s a car. And all without a wrap on the front end ( gasp ) hope to count at least 50 rock chips .
          3LT Long Beach Red , Z51, FE4 , ZZ3, Black interior ,38S red stitching, Q8T, FA5, ER1, CFX, and R8C

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          • #35
            Form an LLC , then you can deduct depreciation, and all travel miles and fuel. Write the car off as an expense.
            3LT Long Beach Red , Z51, FE4 , ZZ3, Black interior ,38S red stitching, Q8T, FA5, ER1, CFX, and R8C

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            • #36
              Originally posted by cutnout View Post

              Me neither. While young I always looked for an old man who took car of his car which he wanted to sell after a few years. The old man only drove the car on nice days and always changed the oil and other maintenance items. He also kept it clean and garaged. That's how I saved on depreciation as I would buy the old mans car. Now I am that old man so when I sell the black rose someone will get a super buy. Charlie aka cutnout
              LOL, OK so I started the thread after reading some folks talk about 50% depreciation in the first 2 or 3 years, and while I have never in the past bought a new car worried about depreciation; $45k over 2 or 3 years does impact my decision; hence the question. I do keep our cars for a long time, I'll be selling my dearly loved '07 Audi S4 factory DTM to help get into this car. It was purchased as a CPO after a 3 year lease turned it back in.

              So like you, while never buying thinking about depreciation; I like to buy smart and not get hit in the side of the skull with a paper loss that will eventually be real. I'm comfortable based on the feedback in this thread that we won't be overly burdened with depreciation, and frankly now that I'm 60; I feel like I can spend more on my car as a reward for saving and behaving like an "adult" for the last 25 years or so.

              I like you guys am a car guy, if I could by a Konnigsegg trust me; I would.

              Cheers,

              David

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              • #37
                Ai remember 18 months after buying my current c6 z51 manual that I was going to sell my car and buy a c6 z06 and just so you guys know...i had a giy ready to fly in from chicago to buy my corvette for 15 percent less than I paid and that included sales tax I had paid for it too.

                i think i had 18k miles on it.

                i ended up cracking a rim and decided to just buy a jew wheel and keep the z51 as the c6 z06 did not have a removable roof.

                i really did find that removing the roof had become a major source of driving enjoyment and decided the performance of zero to sixty in four seconds, .99 lateral g s and a top speed of 190 mph was enough...

                long story short...if you buy a c8 and are not enamored with it within the first 18 months...put it up for sale. You might if resale value is a priority find that c8 z06 might make you more satisfied and you might just be able to recoup a great portion of the price you paid for the c8 you are about to take possession of.

                if I remember correctly I did get 10 percent off my black c6 z51 manual and had a grand or two in gm bonus card points and just paid the rest off with one withdrawal from my account so I oaid no interest...i ended up enjoying that car for many many years.

                quite honestly unless my c8 z51 fe4 is a lemon..lill probably enjoy it for many years to come...unless of course that c8 z06 is off the chart I got to have one...

                A good ballpark figure fir private sale is 30 percent depreciation in three years, 50 percent in five if you sell it on your own...

                Interesting topic...
                Torch Red exterior/ black interior z51 FE4 1LT

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                • #38
                  The most economically effective purchase would be of a used model, perhaps 3 years old, with low mileage, that is still a current model. But many of the early adapters view their ratio of disposable assets to remaining healthy life to be high enough that economic effectiveness is not much of an issue in their decision.

                  Which in turn creates opportunities for we bottom feeders who would consider a good, clean, low mileage used car.

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                  • #39
                    Low VIN numbers, revolutionary design, short model year, why do you think the first C8's will depreciate at all?
                    Torch red 1LT, no options

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                    • #40
                      Originally posted by WillRockwell View Post
                      Low VIN numbers, revolutionary design, short model year, why do you think the first C8's will depreciate at all?
                      Almost all cars depreciate. 2020 even with its limited production will come in around 27000 units.
                      Torch Red exterior/ black interior z51 FE4 1LT

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                      • #41
                        Originally posted by Milliwatt Rob View Post
                        The most economically effective purchase would be of a used model, perhaps 3 years old, with low mileage, that is still a current model. But many of the early adapters view their ratio of disposable assets to remaining healthy life to be high enough that economic effectiveness is not much of an issue in their decision.
                        I bought a couple cars used. I like to have at least 10 months on the factory bumper to bumper warranty. If I'm accidentally buying a lemon, I have time to figure it out and anything seasonal (overheating, A/C problems) has time to surface. Carfax has made it easier to see if a car is spending more time at the dealer than on the road if the car is purchased while the car is in warranty period.
                        Atomic Orange C6. Plenty of engine and suspension mods.

                        C8 HTC with Z51 FE4 coming fall 2020.

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                        • #42
                          What’s not being taken into consideration is the first year (maybe longer) will have the secondary market prices trading over retail. I think that unless these prove horribly unreliable, this will be the best performing Corvette from a value retention standpoint for a while. The lower volume performance models even more so. The gap between this and the next closest competitors is quite a bit wider than the front engine cars counterparts.

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                          • #43
                            There are plenty of brand new 2019 C7 Z06 cars listed for under $70k right now. Those cars have a KBB trade in value between $63k and $64.5k for base cars with no options.

                            The interesting thing is that the manual cars cost less than the auto cars to buy brand new but actually have a resale value that is about $1k more.

                            That won’t happen with the C8 because there is no manual transmission option. The trick with the C8 will be to get a car that doesn’t have a lot of stand alone options but has all of the packages everyone wants.

                            Since so many big dealers are selling at list price the immediate used market is where we will see the price gouging. People will be reselling cars that they get in early March for $20k-$40k over sticker even with a thousand or more miles on them. Demand on the used market will be that high for the early cars. However, it will fade fairly steadily throughout the year.

                            I think the depreciation for the C8 will be entirely different than the C7. This car appeals to a much broader audience and it comes at a time when people are spending money/credit at an astronomical rate. If that trend changes then things may be different but for now I don’t anticipate the C8 to depreciate that much in 2020 or perhaps even 2021.

                            For comparison a loaded brand new 2019 INFINITI Q50 400 HorsePower Red Sport stickers at $61k. That car’s KBB resale value is only $33k WHEN YOU DRIVE IT OFF THE LOT. It loses 46%($28k) of its sticker price as you drive it off the lot.

                            I posted that comparison to demonstrate that there are much worse options for depreciation than a 2020 C8. Honestly, I am not sure I can think of a car in that price range that will have better depreciation.

                            If depreciation is that big of a worry for you and you aren’t going to drive that many miles in it then simply lease it. Now you are going to pay a lot for it with a lease. The residual will be decent but the interest rate will be quite high and the discount will not be there either.

                            Corvette leases are never competitive with leases from other companies. However, a lease gives you the option to simply turn the car in at the end of the lease if these cars suddenly start depreciating more than expected.

                            Think of a lease as a bet on the resell value of the car. The person leasing the car is betting that the car will be worth less than the residual and the financial institution is betting it will be worth more.

                            If everyone is worried about the resell value of a 2020 C8 then I can’t imagine what everyone else is thinking about virtually every other car on the market today.

                            Cars depreciate. Some more than others. The price of enjoying the car you drive is the depreciation.

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                            • #44
                              The last two used cars I bought were a 2011 Lexus ISF in 2012 and a 2013 Shelby GT500 in 2014. Each had 9000 miles, and each cost $50,000, about $15000 below sticker. In choosing the cars I looked at mileage, mechanical history, and appearance, both cars were loaded with options, but that was not a factor in the decision. I didn't care, I was looking for performance, not options.
                              It's possible that a prospective buyer in 2024 will care more about how you took care of the car than what trim level it has.
                              Torch red 1LT, no options

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                              • #45
                                I think the biggest factor in depreciation will be what Chevrolet does with the MSRP after the first year. With the stories out there that they are losing $20,000 on every base model you cannot expect them to hold the current price for several years. It just won't happen. In 2021 or 2022 the price of a new C8 will have a significant effect on the value of a clean used 2020.

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