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Corvette Today’s News That “Corvette Fever” Returns

Corvette Fever magazine has not been published for a while. But Alan Colvin, a walking encyclopedia of GM cars as well as Corvette, has purchased the rights to Corvette Fever and has revived this publication! https://anchor.fm/steve-garrett/epis...-Colvin-euvkq2. Your CORVETTE TODAY host, Steve Garrett, visits with Alan to talk about the books he's written on Corvette and other GM products, his history with the old Corvette Fever magazine and how he plans to revive the publication. Plus, listen to this podcast and register to win one of 3-two year subscriptions to Corvette Fever that we're giving away exclusively on this episode! Listen to this CORVETTE TODAY podcast and win a subscription to Corvette Fever magazine!!!
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SGTMAJ USMC AUTO & TOY HAULER Joins MECF As A Featured Forum Vendor.

Welcome to SGTMAJ USMC USMC AUTO & TOY HAULER! We are so happy to have you now join us as a MECF Featured Forum Vendor. We can not wait to help your new business grow. We know you will provide a great transport service to our members and others!
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Z06 Potential Patents

As we get ready for the Z06’s debut sometime in the next year, IMO time to brush up on the 23 GM C8 patents — many of which are Z06 potentials: https://www.midenginecorvetteforum.c...alized-patents
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Shocking "PREMIUM" Added

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  • Shocking "PREMIUM" Added

    Yesterday I was finally able to attend a Corvette Club meeting at our sponsoring Phoenix area Chevrolet dealership. Meetings were suspended for over a year due to Covid restrictions, so I was anxious to attend and proudly introduce my C8 which I had "finally" acquired in December.

    This dealership had five C8s in their showroom each with an extraordinary "Premium" of $30,000.00 added to the MSRP! I am curious if this mark up is "the norm" in other parts of the country?

    (fyi, I purchased both my 2014 C7 and my 2020 C8 from Mike Furman)

  • #2
    There are four states which traditionally have had the most rip off premiums (over MSRP) for those Corvettes which had a demand greater than supply situation.

    Sorry but you live in one them. The other three are California, Texas and Florida.

    Having written that, we all recognize that there are exceptions to every generalization, that is first that there are dealers in the other 46 states that similarly are adding “market adjustment:” to the C8’s MSRP, and second that within the four states there are dealers charging MSRP for customer ordered C8’s.

    But historically the greatest gouging amounts are in the four states.

    Over time customers are getting smarter and why for the top dealers who are (and who have always) only charged MSRP regardless of the exclusivity or the newness of a model, are growing in sales. As one example, in 2015 there were six of us sitting around a table eating pizza after our Corvettes club meeting and every one of the six of us (we all live in Oregon) had coincidentally bought our C7 from the same dealer (one of the top three dealers in the country located 3,000 miles away.

    As a furtherance of this, the top three dealers are now selling over 2/3’s of their new Corvettes to our of state customers.
    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 23 year members of National Corvette Museum. Home is the beautiful Pacific Northwest.

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    • #3
      Salesperson: “I am going to give you a deal and reduce the $30,000 premium to $15,000 if you buy it in the next five minutes, but if you do not it goes back to the asking price for I can sell it easily for $115K.”

      Comment


      • #4
        One dealer in California has a "discount for everyone" that is actually a 10K markup. Silly me, I thought discounts were a reduction in price.
        2021 HTC 2LT, NPP, Mag ride

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        • #5
          Originally posted by John View Post
          There are four states which traditionally have had the most rip off premiums (over MSRP) for those Corvettes which had a demand greater than supply situation.

          Sorry but you live in one them. The other three are California, Texas and Florida.

          Having written that, we all recognize that there are exceptions to every generalization, that is first that there are dealers in the other 46 states that similarly are adding “market adjustment:” to the C8’s MSRP, and second that within the four states there are dealers charging MSRP for customer ordered C8’s.

          But historically the greatest gouging amounts are in the four states.

          Over time customers are getting smarter and why for the top dealers who are (and who have always) only charged MSRP regardless of the exclusivity or the newness of a model, are growing in sales. As one example, in 2015 there were six of us sitting around a table eating pizza after our Corvettes club meeting and every one of the six of us (we all live in Oregon) had coincidentally bought our C7 from the same dealer (one of the top three dealers in the country located 3,000 miles away.

          As a furtherance of this, the top three dealers are now selling over 2/3’s of their new Corvettes to our of state customers.
          prices on ALL Corvettes esp C7 and later are UP!

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          • #6
            If G-d himself said pay the dealer markup I wouldnt.

            Wouldnt do business ever on any vehicle once a business even attempts this.

            JMO

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            • #7
              Originally posted by JB View Post
              If G-d himself said pay the dealer markup I wouldnt.

              Wouldnt do business ever on any vehicle once a business even attempts this.

              JMO
              I agree 100%!!

              I know many always say, "hey, what's the problem, if someone is dumb enough to pay it, that's just good business on the dealers part." I could not disagree more with those folks. It seems as though we're losing integrity in so many ways, at so many levels...this is just another example.
              '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 - Delivered 10/1/20😀

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              • #8
                Originally posted by maxvette View Post
                One dealer in California has a "discount for everyone" that is actually a 10K markup. Silly me, I thought discounts were a reduction in price.
                It's a "discount" from the $20K markup they were going to sell it for.
                Current C7:SunKissed, 2015 2LT, 7MT, Black over Daytona Sunrise Orange Metallic, Stingray convertible

                Status 3300, TWP 5/??: 2021 2LT HTC, Red Mist Metallic Tintcoat, two-tone Natural w/ suede inserts, FE2, NPP Nickname TBD

                Proud member of the Old Dominion Corvette Club: https://www.olddominioncorvetteclub.org/

                Never grow up - It's a trap.

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                • #9
                  [QUOTE=John;n258799]There are four states which traditionally have had the most rip off premiums (over MSRP) for those Corvettes which had a demand greater than supply situation.

                  Sorry but you live in one them. The other three are California, Texas and Florida.

                  JOHN.... I live in North Texas and haven't seen or heard of that practice.... Every once in a while over the years, I've heard of some 'cub salesrep' trying to impress the boss by quoting a Corvette at $5-10K over sticker but it's never amounted to much. Now California.... that's an entirely different issue. That's why Mike Furman and other professionals are so successful.

                  $10K for 'instant gratification' isn't a big deal to some, although it really irritates me as a matter of principle. Fortunately buyers have options....

                  2020 HTC Torch Red with lots of goodies. Built in September. Museum Delivered in October......

                  Other toys in the garage: Ferrari California, BMW i8 Roadster, Bentley Flying Spur

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                  • #10
                    SUNCHASER - May I ask what dealer you meet at or you are referring to?

                    Comment


                    • #11
                      Originally posted by SUNCHASER View Post
                      Yesterday I was finally able to attend a Corvette Club meeting at our sponsoring Phoenix area Chevrolet dealership. Meetings were suspended for over a year due to Covid restrictions, so I was anxious to attend and proudly introduce my C8 which I had "finally" acquired in December.

                      This dealership had five C8s in their showroom each with an extraordinary "Premium" of $30,000.00 added to the MSRP! I am curious if this mark up is "the norm" in other parts of the country?
                      Just out of curiosity, which dealership?

                      My nephew sold his 2020 Coupe to Midway Chevrolet there a couple of weeks ago. They gave him about $15k over what he had in it and priced it $30k over what he had in it. Used, with 1663 miles on it, crazy. They haven’t sold it yet and have dropped the price by $1k. So apparently they think they can still get the high premiums in that market. Makes all of us buyers who paid MSRP feel like we got a great deal, never thought I would say that about a new car purchase!

                      Comment


                      • #12
                        My concern when I see a dealer with 3 C8s on the showroom, at those kinds of prices, is how did they get them? For the most part, my understanding is that BGA has only been building sold orders. If three legit buyers changed their mind after the car was ordered, and the dealer got "stuck" with them, I guess they're as entitled to try to sell them at a markup as we are to demand discounts when a car is selling slowly.

                        But if they got them by promising a buyer MSRP, and then pulling a bait and switch and demanding a markup after the cars came in, then they should be tarred, feathered, and run out of town on a rail.
                        Current C7:SunKissed, 2015 2LT, 7MT, Black over Daytona Sunrise Orange Metallic, Stingray convertible

                        Status 3300, TWP 5/??: 2021 2LT HTC, Red Mist Metallic Tintcoat, two-tone Natural w/ suede inserts, FE2, NPP Nickname TBD

                        Proud member of the Old Dominion Corvette Club: https://www.olddominioncorvetteclub.org/

                        Never grow up - It's a trap.

                        Comment


                        • #13
                          Originally posted by meyerweb View Post
                          My concern when I see a dealer with 3 C8s on the showroom, at those kinds of prices, is how did they get them? For the most part, my understanding is that BGA has only been building sold orders. If three legit buyers changed their mind after the car was ordered, and the dealer got "stuck" with them, I guess they're as entitled to try to sell them at a markup as we are to demand discounts when a car is selling slowly.

                          But if they got them by promising a buyer MSRP, and then pulling a bait and switch and demanding a markup after the cars came in, then they should be tarred, feathered, and run out of town on a rail.
                          Agreed, if that is the case, but maybe some of them are used like my nephews example above? Crazy that they have a used 2020, with over 1600 miles on it, priced for almost $30,000 over MSRP/cost. My nephews car has a Hennessey exhaust and 5VM ground effects that he added to cost over MSRP.

                          Comment


                          • #14
                            I read of many members here placing deposits at multiple dealers, and then cancelling the others when their order advances at one. So,I assume that when that happens, an "also ran" dealer may decide to keep the order alive, and sell the car as a showroom car, above MSRP.

                            I too would not pay more than MSRP. Heck, I don't even like paying MSRP. But to a hot to trot buyer with more dollars than sense, the convenience and ability to buy a car from inventory with no wait time may be worth a lot.

                            Comment


                            • #15
                              This all could be fixed with a simple move by GM... Dump the whole Allocation scheme... To Build Orders go directly to the Factory and are date stamped, entered and built accordingly. If a dealer wants inventory in his show room he enters a floor plan order that subject to surrender if a To Build is entered that matches the Floor Plan floor plan order. To Build orders get priority period. If a To Build backs out he surrenders his minimum $5K down payment. If the order is financed the financing commitment is completed at time of order and is part of the order approval process. A small dealer like mine who currently only gets 5 Allocations a year can grow is Vette business. And a GM Customer who has a relationship with a local dealer he trusts doesn’t have to do a non-local order to insure getting his vehicle in less that 24 months.... Its not that hard and the Customer IS the Customer... not the Dealership.
                              202(1 or 2) Arctic White HTC Z51 with all the Goodies 😎

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