Trade-In Values

[USCANAM]

Did a search for trade ins, and found nothing. Please correct me if I'm wrong.

O.K., now that the dust is starting to clear from the Grand Opening of the C8, and probably GM has 20,000 orders on file, has anybody thought about paying for your newly ordered C8?
You can be cavalier about the topic, but there will be a time when you have to pay the piper. If your C8 winds up on the bottom line costing you around $5000 more than you expected, that might get your attention.

Nowhere have I seen anything about what the dealers will offer on your Corvette,, and I'm assuming in most cases you'll be trading in your C7.
If you're buying your C8 outright, you're all set.
At this time, my dealer does not even want to discuss my Grand Sport trade in.

Just say for example that there will be 5-10,000 C7 owners moving up to a C8. Now say "flooded market".

My hope is that the C8 will spur a renewed interest in Corvette ownership, but the C8 cost will be too high for a majority of potential owners. However, since there is a slight resemblance (especially in the front) between a C7 and a C8, and more performance in the C7 than you could possibly ever need, a lot of folk will choose a C7 as a choice.
This should fill their need to own a Corvette, and should fit their pocketbook.
I believe this happened when the C5 appeared.

How say you?

[George]

Lots of folks will be disappointed in their C7 trade value. And yes, the C7's will be a great value for anyone that might be happy with, or able to afford a C7.

[V1 VR]

The time to sell is now imo.
And sell it your self if you can. I think prices will be depressed as we move deeper into 2019. Find out now what a C7 like yours is SELLING for not what it’s worth and go from there.
Offer it for a fair value and it will sell. The C7 is a great corvette and very desirable. The introduction of the C8 has shined a spotlight on Corvette and many new customers may be interested in one not all C8’s ...Who ever buys my 2014 C7 will be getting a great high performance sports car, with a lot of smiles left in it.....the C8 doesn’t change that fact......JMHO YMMV...good luck

[Milliwatt Rob]

Yet another reason, aside from the fact that I would want a convertible, to wait a bit until after the initial Oklahoma land rush for the new C8. In 18 months or so, the pent up demand will be satisfied, GM will start offering promotional pricing, initial bugs will be worked out, and the used car market will also stabilize.

And if my 2LT, Z51 C7 convertible is worth peanuts, I may just keep it!!!

[Frenzy36]

There are a lot of C7's for those opportunists. There are brand new ones in the low 40's. All you can do is try and sell it yourself. I'm sure there will be potential C8 buyers who will pass on an 8 and go for the 7 as they can buy 2 C7's for the price of a optioned C8. There are also those counting on getting a good trade in value and won't. By the time they figure out the bottom line on a optioned C8 and then add their Tax and Insurance Cost they may just jump on a C7 that's really a steal.

[USCANAM]

It would be prudent on my part to wait a year and take advantage of possible discounts offered by GM, but when my C8 arrives possibly in February, my right foot will have turned 83, and I don’t really know how many miles are left in it. So, we’ll take advantage of every opportunity available to drive it.

BTW, does anyone know if a walker will fit in the aft cargo space!!

[Milliwatt Rob]

I dunno. If my health were as delicate as what some of you claim to suffer, the first 0-60 run in 2.9 seconds would probably stop my heart. Anyone know if a heart defibrillator fits behind the passenger seat?

[RoketRdr]

I dunno. If my health were as delicate as what some of you claim to suffer, the first 0-60 run in 2.9 seconds would probably stop my heart. Anyone know if a heart defibrillator fits behind the passenger seat?

There’s one built into the car when you mash the peddle to the floor.

[Strake]

I early traded our C7 3LT GS in latter part of July towards a pending C8. While investigating what the value of my car might be worth on numerous websites, and looking at what private sale, asking prices were on many sites, I ended up ...... JUST for curiosity sake seeing what the Kelly Blue Book " Cash Offer, Buy it Now" price quote was. It was obviously well below what I would accept. Next morning a dealer called me and wanted to buy it. I laughed and told him, not at that price. After he asked what he needed to do to earn his business, I told him my intentions and what I wanted out of my car. He asked for pictures and spoke with the owner. An hour later, the owner called me. We took the car up for the owner to confirm that I described the car as absolutely top notch 1% car and he agreed to my price. I took the title with me, and they drove us home an hour and a half !

Our C7 was never going to be worth more than when we traded it. Didn't want to hold out to next Feb, March or April to trade our car. Also a bit concerned that there would be a lot of other folks trading in then too driving rates down. In PA we only pay sales tax on the trade difference, so comparing what I negotiated for a trade in, versus what I could sell for privately, it was a total no brainer to trade. I ended up several thousand ahead of selling privately and paying full sales tax on the new car.

The dealership sold our C7 GS last week. They had it in their showroom for a few weeks and it sold the same day (last Friday) that we came in to put in our order for the C8. Didn't get to see the new owner as he was already gone.

I ended up #4 on his list for first round allocations, at MSRP and basically, next to nothing DOC fees. New car is ordered now.

[JB]

Sounds like an excellent plan and obviously you are not daily driving your exosting just traded in corvette.

[Strake]

JB, worked out well for us. When I looked at what was the MAX I could realistically expect to sell our C7 GS for which was really loaded, versus the trade in value I asked for and received, the difference was only a few thousand..... by the time someone would negotiate and offer something a little lower, the real difference would have been perhaps $1k.

I didn't have to hassle with placing an ad, having folks go back and forth, come to my home to see it and test drive, etc, etc and with the sales tax advantage, I ended up AHEAD of the game.

I'm the type of person that once I've made my decision to move forward, I would not have wanted to drive our C7 hardly at all as to not risk any damage, add miles, etc. Also had the thoughts that come next Feb, March, April timeframe that there will be LOTS of other folks trading their C6's and C7's in.

So, YES, I'm without for 6 months, but that's OK with me...... something to look forward to. Besides, we're going to FL for all of Jan and Feb anyways and wouldn't have the Vette with us anyways.

My best situation would be for our new car to arrive early to mid March, right after we get back from FL !!!!

[Boomer]

I will most likely will trade mine in to the dealer for convenience sake. Just want a fair deal. Whats the best/reliable source/site for determining the trade-in value? What do the dealers mostly use?

[theweeb]

This is an interesting topic. I am probably crazy for considering this, but I have been looking at purchasing a C7 now to serve as a "bridge car" to drive and learn as I wait for the C8. The leap from my C3 to the C8 is just too great. The closest I have driven to a modern Corvette was a couple of Jaguars, an XK8 and more recently an XKR. Both jags were more Grand Touring than sports car performers, the difference between the Jags and the C8 (though not as wide as the C3 and C8) is likely significant. My thought is to buy a C7 now and drive it daily, then trade it on the C8 when it comes in. I know I might lose a few thousand in the trade, but gain some in the tax reduction. Plus, since it rarely snows here, the C7 as a daily driver would be a lot more fun than the SUV I now use.

Am I crazy for considering this approach?

[Boomer]

Am I crazy for considering this approach?

I don't think so even when considering your photo. I'm tempted to sell you my cream puff C7.

[Strake]

I will most likely will trade mine in to the dealer for convenience sake. Just want a fair deal. Whats the best/reliable source/site for determining the trade-in value? What do the dealers mostly use?

I believe most dealers use current auction prices. In my case, the dealer (owner) wanted the car for his dealership to sell. They put it in their showroom. He made the comment about loving the color combination I had and it was a really loaded up 3LT GS that was cleaner than any new car on his lot. He wanted it ASAP as he said really needed to get it sold before Labor Day or sit on it until spring time.

I looked at AutoTrader, eBay, Kelly Blue Book, NADA, Edmunds and had a brother in law check what the Manheim Auto Auction prices were getting. I tend to hone in on the KBB prices as being the most realistic. I look at the very top end of trade in value.