bankers1

I travel a bit between 3 N.E. States and I can't see ANY C7 or C8's in the Lot's right now. I must go past 6-7 different dealers every 3-4 weeks. What's up?
Did no dealer get their allocation of C8's, or want to even risk getting them?. No C8's means no C7 trades. It sounds like a SELLERS Market for us.
I put in sooooo much time and effort on my '17 GSCE that I'd hate to let it go, but cash is king, always,
Dealers are getting rid of Demo's and owners kid's Vettes, a write off, but registered "Used" C7's are hard to find.
Or am I just dreaming?
Getting $ 68,000. for a car I paid $ 94,000. 3 3/4 years ago and ENJOYED fully sounds like a win win in my book.

JMII

C8's are production constrained... GM simply can't make enough of them to meet demand. Pretty much every C8 that has been ordered is already sold. They are selling like crazy: https://robbreport.com/motors/cars/c...ar-1234596697/ the lack of C8 deliveries = no C7 trade-ins driving their values up.

My theory is C7 prices will remain high until C8s are available off the lot at below MSRP.

Kevin A Jones

I'm not sure, however if anyone feels they are sure, please also give us the same info for the NASDAQ and Dow Jones. Thanks

GREENKAR

Yeah, let me check with my crystal ball.

dvilin

Don't know and honestly do not care, bought my Vette to enjoy and that is what I am doing.

Let It Ride

No, me getting $69K for a car I paid $60K two years ago is a win win in my book. (That was my Vroom offer last week, haven't sold it though)

Zjoe6

There will come a time when the new ones are a better deal than the used ones. When that happens is anyone's guess.

Vetteman Jack

I know how you feel. I paid $40.5K for my 2014 in Nov 2018 and Carvava has offered to buy the car for $50.1K. Thinking hard on it as I have until Wednesday to accept the offer.

astepup

I paid $50K for my '19 base less than two months ago, Vroom offered me $53.5K for it. Nope.

Let It Ride

My offer expires tomorrow. It's a tough deal, I haven't seen my car since Nov anyway as it's in winter storage so it seems like I don't have it anyway. But in my mind I know it's the there. To tell you the truth I think you can still hang in there for awhile and use it as I think they may just have a pinch more to go up and then even out.

Luzifer

I'm not selling mine, I don't have enough to get a Huracan yet and those cars have gone up too and all the cheaper ones are gone. When I do have enough money I'm going to keep the Vette because I can do groceries with it...

jimmbbo

No C8s are available, computer chips not being delivered for automobiles puts pressure on supply, increasing used car prices overall... The C7 prices are spiking additionally because of the logjam in C8 production
Great example of supply and demand...

Always Red Dave

Great to see Corvettes getting high resale values!

Habeas Corpus

Wow these cars are fetching good money these days! No intention of selling, but hell if they keep going up I might have to reconsider.

Vette Jockey

From what I am able to understand, three things are affecting car values right now!

1) The chip shortage is affecting everything electronic and car companies are closing lines because they cannot get them.

2) Covid is winding down, but, a lot of people do not want to take a chance on traveling on airplanes. That leaves cars as an escape mechanism. People are going back to work, will be making more money, and some still have their stimulus checks. A lot worked from home so they saved money on gas, child care, and food.

3) People are choosing higher options on the cars they are looking at (I got that from a few car salespeople and a trade article I read). That is why Corvettes and other highly optioned cars are seeing such high increases

I did a Carmax bid on the C7 and they offered me $10,000 more than I paid for it. Carvana offered me $400 less.

We are not driving as much as we used to. Since we can get along with only two cars, we are thinking about selling our Honda Civic Touring and make $5,000. We were looking at Hybrid SUV's (my Vette is a Hybrid, so, why not ), and had our eyes opened. Two year old, 2019 or 2020 Honda CRV Touring SUV's were only about $2,000 less than the 2021, and they had 6,000 to 7,000 miles. Carmax and Carvana did not have any at all!

So, what am I going to do? I am going to sell the Civic Touring now, put the money away, and in six months or so, when chip fiasco is settled, there will be a glut of cars. The car companies will have to answer to their stockholders, after all. Then, I will buy the SUV.

The Corvette, I will keep, unless I get a call from someone with a C8 deal I cannot refuse. jmho

Aero98

I just got an email yesterday from MacMulkin about needing my C7. I'm not in the market to sell, but the solicitations from dealers are happening.
Make of that what you will...

There is money to be made in the C7 market.

Corgidog1

Win win with one minor detail——no corvette.

lostsoul

everyone getting gobberment checks upgrading to c7's lol

I got it out of my system and cut bait now waiting on a list.. Zzzzzz

Hepcat

Prices won’t drop until supplies increase. If that is fueled by more C8s coming through the pipeline or volume owner selling, it may be a while. Both Intel and Taiwan Semiconductor’s CEOs predict chip shortages through the end of the year and into 2022. Supply chain issues, limited foundries, strategic decisions to transition to advanced chips from high-volume are all at play. Add the GM strike and other labor and factory slowdowns, and the summer season is approaching, can’t see prices dropping. My buddy’s been waiting two years for his C8. Dealer told him his C7 trade-in keeps going up. I’m priced out now with my top C7 choice up almost 10 grand. I will be patient and hope to be back in the game this time next year. Kudos to everyone making money or just ignoring the speculation and having fun w their car!

JMII

This is the catch. If you are ok with being Corvette-less for awhile you could make out like a bandit. Sell high on the C7 and buy low on the C8. The question is how long of a wait period are we looking at here? A year? Two years? Three years? Since C8s are so scarce many who sold their C7 wind up just buying another one.

I know one day I will look back on this and think "darn I should have sold" but I just can't do it since I enjoy my C7 too much. The saying about a bird in the hand is better then two in a bush comes to mind regarding this current situation.