C8 mark up when does it end?!
12-06-2020, 11:30 AM
#41
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Interesting post. It's not about attaining a C8, its about getting one cheap for a set price. By 2023 you may be ok, but why not catch it sooner by putting the money into a set of stocks to get a boost?
I can say that today even mentioning $50,000USD "in cash" is a very weak offer, and may not make the leap. The "comps" of a car are important. A Ferrari 360 is the nearest price to what the C8 configuration is, and thats a higher priced car. I believe the floor of the C8 will not be similar to the C5/C6/C7 which are all pretty similar. (If you dont believe me, try a C7 car cover on a C5 or C6...) The C8 is a different car and has a huge following that is diifferent from prior cars. GM is estimating 190,000 new very interested buyers. As a guy who only bought used Corvettes, I will not wait for the used market and feel that the new price isn't much different than the used cars...Besides, I want to buy just one NEW Corvette for me in my life...
Why not get on the list at McMulkin and finance the additional money next year and take a 10 percent lift in the market or other investment plan?
I can say that today even mentioning $50,000USD "in cash" is a very weak offer, and may not make the leap. The "comps" of a car are important. A Ferrari 360 is the nearest price to what the C8 configuration is, and thats a higher priced car. I believe the floor of the C8 will not be similar to the C5/C6/C7 which are all pretty similar. (If you dont believe me, try a C7 car cover on a C5 or C6...) The C8 is a different car and has a huge following that is diifferent from prior cars. GM is estimating 190,000 new very interested buyers. As a guy who only bought used Corvettes, I will not wait for the used market and feel that the new price isn't much different than the used cars...Besides, I want to buy just one NEW Corvette for me in my life...
Why not get on the list at McMulkin and finance the additional money next year and take a 10 percent lift in the market or other investment plan?
12-06-2020, 11:56 AM
#43
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Mark ups end when supply and demand reach equilibrium. Economics 101.
Best guess is that's not likely to happen for another year, but supply may continue to be a problem due to the pandemic. On the other hand, we're in danger of entering a deep recession for the same reason, which would suppress demand.
Thus, there are a lot of variables that are impossible to predict.
Best guess is that's not likely to happen for another year, but supply may continue to be a problem due to the pandemic. On the other hand, we're in danger of entering a deep recession for the same reason, which would suppress demand.
Thus, there are a lot of variables that are impossible to predict.
Don't worry OP all mass production cars devalue eventually.
Hang in there.
Good luck
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12-06-2020, 12:33 PM
#44
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12-06-2020, 07:13 PM
#45
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Simple, when supply catches up with demand. Duh. 
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12-06-2020, 08:33 PM
#46
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Let us know about that deal.....who knows? What if covi shuts down the plant again? Too many variables. I see totaled c8s selling in the 30s if not more. So to get a good used one for 50.....someday...
Just got to decide what’s important to you.
I had a 16z I sold over a year ago. I glance at those prices....they have gone up substantially.....and I did not wait a year to get that car.
Just got to decide what’s important to you.
I had a 16z I sold over a year ago. I glance at those prices....they have gone up substantially.....and I did not wait a year to get that car.
Last edited by Greg00Coupe; 12-06-2020 at 08:38 PM.
12-06-2020, 09:09 PM
#47
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Maybe Winter 2022 (two years from now)...maybe a 1LT Coupe, non Z51. Before than, C8 production needs to catch up with demand, and a higher end model needs to reach the market encouraging early adopters to trade up in droves.
Last edited by Big Lebowski; 12-06-2020 at 09:11 PM.
12-06-2020, 09:38 PM
#48
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Thread Starter
I know it痴 apples to oranges, but a 2019 Z51 can be had for $50,000 in the 20-30,000 miles range. MSRP between the two is similar. I知 optimistic supply will catch up this time next year and if what 2019s are selling for now in COVID world is any indication I should be behind the wheel sooner than later, especially with 2021 models not going up in price.
12-06-2020, 09:54 PM
#50
Melting Slicks
That said, I bought a new 1LT C7 at a very advantageous price 3 1/2 years ago. Only option: automatic transmission. The driving experience is pretty much the same regardless of bells and whistles, and one doesn't need those extra features in a car being driven weekends and evenings.
12-06-2020, 11:21 PM
#51
12-07-2020, 06:15 AM
#52
Race Director
When I picked up my car my wife asked me how much I got off the price... I told her that I paid List Price... She said... so you didn't get a discount ?... I told her that I actually did because some people are paying way over list for used examples right now...
As far as $50k used... I think demand will increase once people start seeing more of these cars out on the road so don't hold your breath unless you can live with a salvage title 1LT..
As far as $50k used... I think demand will increase once people start seeing more of these cars out on the road so don't hold your breath unless you can live with a salvage title 1LT..
12-07-2020, 07:05 AM
#53
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It ends when the initial rush is satisfied & the dealers have new Corvettes on the lot that they ordered for stock
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12-07-2020, 07:06 AM
#54
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When I picked up my car my wife asked me how much I got off the price... I told her that I paid List Price... She said... so you didn't get a discount ?... I told her that I actually did because some people are paying way over list for used examples right now...
As far as $50k used... I think demand will increase once people start seeing more of these cars out on the road so don't hold your breath unless you can live with a salvage title 1LT..
As far as $50k used... I think demand will increase once people start seeing more of these cars out on the road so don't hold your breath unless you can live with a salvage title 1LT..
12-07-2020, 07:32 AM
#55
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When I picked up my car my wife asked me how much I got off the price... I told her that I paid List Price... She said... so you didn't get a discount ?... I told her that I actually did because some people are paying way over list for used examples right now...
As far as $50k used... I think demand will increase once people start seeing more of these cars out on the road so don't hold your breath unless you can live with a salvage title 1LT..
As far as $50k used... I think demand will increase once people start seeing more of these cars out on the road so don't hold your breath unless you can live with a salvage title 1LT..
Better hold on to her if she let you off with that.....!
12-07-2020, 08:07 AM
#56
Race Director
Anyone know if 2021 is close to being sold out considering that 20,000+ 2020 orders got pushed to 2021 ?
12-07-2020, 08:15 AM
#57
Race Director
12-07-2020, 06:23 PM
#58
Race Director
12-07-2020, 06:31 PM
#59
Also, based on the 2020 numbers, not very many pure base 1LTs were sold...so it isn't a 59K car going for 50K...it will be to be a 70k or 75K car going for 50K. maybe that happens...but within 2 years? that seems optimistic, unless it has a ton of miles or some other issues.
12-07-2020, 06:33 PM
#60
I’m in the market for a C8. I would love to own one used. I have se aside $50,000 to buy one used. I remember about 3 model years in the C7 generation was about when they were selling for that price used, but with decent options. I’m wondering if that’ll be about the same time frame for the C8? I really hope I can find one late next year for $50,000, I’m willing to buy one with 20-30,000 miles. I just want this car and that is the most I’m willing to spend. My question is when does this mania of these selling for $25k over msrp end?!
Last edited by vette2021HTC; 12-07-2020 at 06:33 PM.
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