Chevrolet Corvette, General Motors, Corvette Stingray Are C7 Corvette Prices Finally Going Down and Will They Stay Down?
This is sort of a follow up. I talked about why c7 prices uh went up and when i thought they would go down, and basically my theory in that video had to do with the ca corvette it sort of had to do with the pandemic, but the real reason i’m. Making this video is because recently on car gurus, i discovered a feature that allows you to look at graphs or charts, and you basically get to see over the last 30 days 90 days year over year, certain percentages of cars going up or down, and the average Price of every car for each year it was made what people are buying them for on the used market, and i really thought it was kind of cool. Obviously so i plugged in the c7 corvette every corvette from 2014 to 2019 and sort of get a sense of what was going on and what i found was in the last 30 in the last 90 days. The percentages are in the negative, so basically the corvette c7 is going back down. So i thought that was kind of interesting to see and obviously year over year, these prices went up. If you look at the right column, any any numbers i’m talking about, obviously put up on the screen. But if you look at year over year, these uh these cars went up. You know five six, seven percent um, which is sort of unheard of for a used car.
Obviously this car was made, like i mentioned a few years ago, we’re talking about not a new car. Like i said, and usually these things depreciate i mean almost always. I never really heard of a scenario besides this pandemic, where a used car would start creeping upwards unless, for some reason it was specifically a rare model or or something like that, but for a car that was mass produced, you don’t really see that happening too often. Uh or ever besides, like i mentioned in this pandemic, so basically i want to talk about why the prices have started to creep back down and, if i think, they’re going to stay down so basically, my short answer to that question is absolutely. I think the corvette it’s done appreciating in value somehow it doesn’t really make any sense to me that a 60 thousand dollar car that’s, three or four years old, with miles on it um, is gon na start creeping back up towards that original msrp, like we’re. Seeing c7 corvettes from 2016 with 20 000 miles on it, you know for 52 000 or something like that. Doesn’T make any sense to me. At all. I mean this was a car that was purchased new for 60 000 that’s, like almost no depreciation it’s. Pretty much unheard of and before the pandemic, you could pick up a c7 corvette on the lower end for about 32 33, maybe even 35, 000 consistently now that’s, not really the case as much.
Of course there is some available i have seen, but it’s really not as available as it was. I remember looking a year ago or so, and it was very easy to buy these cars for around thirty three thirty four thousand dollars, but i do think in the next six to eight months i mean we’ve already seen the percentage gone down a little bit as Far as the used market for the c7 corvettes, but i do think it’s gon na start creeping back down eventually to where they were pre pandemic, and then i think they’re just going to continue to depreciate like a normal car. Would you know maybe five six percent? Every year after that, but i do think it’s going to take some time. So, if you’re thinking about buying a c7 corvette, i would wait a little bit longer. Just like. I said in that first corvette video, which i’ll link up above that the ca corvette has a lot to do with it. I think the fact that now that you can buy a ca corvette for consistently 20 to 25 000 above the msrp, which i know sounds like a terrible deal and it definitely is a terrible deal considering it’s way above msrp and someone else paid retail for that Car theoretically, but there was a time when the ca corvette first came out, probably because it was the we were in a pandemic and the factories got shut down uh because of both the pandemic, but also a strike um.
A lot of people want to get their hands on this new uh first year mid engine corvette a lot of people were willing to pay a ton of money for it and they even saw base ca corvettes being sold for 100 or 120 dollars. Talking about like a 200 percent markup on already an expensive car it’s, definitely a performance bargain, but still we’re talking about a car that’s, not like a cheap car. So you see that kind of markup is sort of incredible, but i think uh, the days of that are gone unless something else crazy comes out, but as far as just regular ca corvettes, maybe the z06 and all that other stuff like. I said something crazy like that might be a different story, but as far as just these regular ones, i think we’re pretty much done seeing them appreciate and we’ve seen it over a pretty consistent period of time, 30 and 90 days. Those you know that’s what one to three months, we’ve seen them all start to go down. I don’t think it’s coincidence that every single year of the c7 corvette has started to dip back down. So i think, like i mentioned earlier, we’re going to eventually see that start to go back to where it started: pre pandemic and every single day the price has a chance to keep going lower and lower, because i do think it is directly affected from the sea. Corvette and if you want to hear my explanation of that, like i said you can watch that video but right now, you can order a c8 corvette and get it delivered between six and 12 months and you can pay msrp for that car spec it out.
However, you want – and i don’t think in the next six to 12 months – we’re gon na be at a place where you could just go to a chevrolet dealership and get one of these cars for msrp. But i do think we’re going to get to the point where anyone who really wants this car is going to be able to get it. They’Ve had their time to think about. If they want it, and now they have a chance to put their order in and get it within a certain period of time unless there’s another shutdown, which obviously is still a possibility with the world right now, we don’t know what’s going on uh without that happening, Though i think i think everything’s gon na start to run a lot smoother and we’re gon na see everyone who wants to see a corvette getting there. Some people are gon na start trading in their c7s four ca corvettes if they haven’t already, which is going to cause some more to be on the market, and i think that’s going to just cause c7 corvettes to dip down a little bit more and that might Sort of accelerate the process of these prices going back down to what they were so that’s, just pretty much my two cents on the issue, uh it’s, sort of interesting to see everything that’s happening i’m excited to uh, see what happens uh with the depreciation of the C7 corvette, like i mentioned earlier, i think it’s going to just go back to where it was in six to 12 months or something like that and then it’s gon na just start depreciating, like a normal car, normally does after being out for five or six years Or something like that, obviously some of the newer c7s have been out for a lot less than that, but cars depreciate.
I think this was a weird circumstance. I think we’re done seeing the c7 corvette keep going up. I know i probably sound repetitive in this video, but i just thought this was kind of interesting to look at so that’s gon na, be it for this video please like and subscribe.