C8 depreciation musings
12-09-2023, 09:54 PM
#21
Racer
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Ron_Attleboro_MA (12-09-2023)
12-10-2023, 01:58 PM
#23
Burning Brakes
where some go wrong is "demand" - the cars are keeping up wtih demand just fine, because you can go into a dealership and custom order a car for msrp right now, today.
demand has dropped a little mostly cuz demand for new cars in general has dropped a little as a result of the current economy. that will restore itself after a time, but then again during that time prices will come down etcetc.
its not a bugatti.
demand has dropped a little mostly cuz demand for new cars in general has dropped a little as a result of the current economy. that will restore itself after a time, but then again during that time prices will come down etcetc.
its not a bugatti.
12-10-2023, 02:38 PM
#24
12-10-2023, 03:26 PM
#25
Intermediate
12-10-2023, 03:56 PM
#26
Leave it to your kids and they will buy the C8, the BMW, Porsche, etc. And they will thank you for it. Ha! If you are worried about depreciation, keep away from car dealers.
12-10-2023, 04:02 PM
#27
Here are my two cents. There are multiple factors at play: Inflation, demand, supply and delivery times. Supply and delivery times rely on production volume. Also, much depends on the model; Stingray, Z06 or E-ray.
Inflation is high, and finance rates are significantly higher than they have been over the last few years. Also, demand still exceeds supply. These put upward pressure on used C8 prices.
On the other hand, last year was a record year for Corvette production, very close to 1979 if not surpassing it. If that production rate keeps up for the 2024 model year, supply will continue catching up with demand and delivery times will continue to decrease, at least for the Stingray. That puts downward pressure on used C8 prices. Also, some so called financial experts are predicting an economic downturn for 2024. If that happens, that also will put downward pressure on used C8 pricing.
If we do not enter a recession in 2024, I still expect used C8 Stingray prices to be high relative to previous Corvette generations, but lower than they are today. Even though used Z06 prices will decline from today, I expect they will still exceed MSRP because Z06 supply is nowhere close to catching up to demand and delivery times still are very long at dealerships selling at MSRP. The same may be true for E-rays, we'll see.
If we do enter a recession in 2024, I expect used C8 Stingray prices to fall back in line with those of previous generations. Z06 prices will decline more than if we don't have a recession, but still will exceed MSRP. Again, we'll have to see how supply and demand falls out for the E-ray.
Inflation is high, and finance rates are significantly higher than they have been over the last few years. Also, demand still exceeds supply. These put upward pressure on used C8 prices.
On the other hand, last year was a record year for Corvette production, very close to 1979 if not surpassing it. If that production rate keeps up for the 2024 model year, supply will continue catching up with demand and delivery times will continue to decrease, at least for the Stingray. That puts downward pressure on used C8 prices. Also, some so called financial experts are predicting an economic downturn for 2024. If that happens, that also will put downward pressure on used C8 pricing.
If we do not enter a recession in 2024, I still expect used C8 Stingray prices to be high relative to previous Corvette generations, but lower than they are today. Even though used Z06 prices will decline from today, I expect they will still exceed MSRP because Z06 supply is nowhere close to catching up to demand and delivery times still are very long at dealerships selling at MSRP. The same may be true for E-rays, we'll see.
If we do enter a recession in 2024, I expect used C8 Stingray prices to fall back in line with those of previous generations. Z06 prices will decline more than if we don't have a recession, but still will exceed MSRP. Again, we'll have to see how supply and demand falls out for the E-ray.
Last edited by C8forT; 12-10-2023 at 09:00 PM.
12-11-2023, 03:21 PM
#28
Burning Brakes
1-Sting, my wife tells friends and family that we are spending our 2-daugthers inheritance. She also says the nursing home will get less!
Happy to say our daughters are doing well and will only be better off with our leftovers!
My younger daughter likes sporty cars, so I hope she gets my Corvette, just not tomorrow.
Ron
Happy to say our daughters are doing well and will only be better off with our leftovers!
My younger daughter likes sporty cars, so I hope she gets my Corvette, just not tomorrow.
Ron
One of our granddaughters who is 8 was talking with her other grandfather the other day and he told her that when he passes she and her siblings will inherit it all. So she asked when that will happen. Smart kid, already planning for her future. Lol.
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kromdom (12-11-2023)
