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Buying & Selling

2008 Corvette Pace Cars Now Discounted with Employee Pricing

One of the most successful incentive programs offered by GM is now back and the good news is Corvettes are included. Employee pricing for everyone runs through September 2nd and Corvette buyers can save a significant amount on 2008 Coupes, Convertibles and the Z06.

Usually Corvettes are excluded from most of GM’s incentive programs but due to the number of 2008 Corvettes available on dealers lots – 5,854 as of yesterday – the General wants them sold to make room for the 2009 Corvettes now rolling off of the Bowling Green Assembly line.

The discounts are fairly significant too. In the case of the 505 horsepower Z06 where base prices start around $72,000 the discounts can be close to $10,000 off!

Our friends at Kerbeck Corvette only have a few 2008′s left including a Black Z06 and a Indianapolis 500 Pace Car coupe so if you want to get in on the discounts you better give Dave and the gang a call immediately at 1-877-537-2325. Make sure you tell them CorvetteBlogger sent you!


Sponsored by:
Kerbeck Corvette

Related:
July 2008 Corvette Sales

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The 2009 Corvette ZR1

We know they like to do things big in Texas, but one Chevrolet dealer in Houston has gone all out by pricing a 2009 Corvette ZR1 on eBay for $185,000. With a retail price listed at $115,000 with options, that’s $70,000 over MRSP. We’re trying to call in to Suze Orman’s show for her advice but I have a feeling I’d hear that shrill voice scream out “I Don’t Think So!”

Mac Haik Chevrolet has the 2009 Corvette ZR1 listed on ebay until April 14th with a “Buy It Now” price. The description says the Corvette will be delivered to the dealer in mid-September and the color is black on black. Since the MSRP is listed at $115,000 we’re assuming it has premium 3ZR option package.

Mac Haik Chevrolet isn’t alone in agressively pricing their 2009 Corvette ZR1s for ebay. Two other Texas dealerships have their ZR1s listed at prices above $150,000 as well. Frank Parra Autoplex has one listed for $167,000 while Don Hewkett Chevrolet has their “buy it now” priced at $158,000.

Dealers are certainly entitled to sell the Corvette ZR1 for what they think they can get for it, however when going the eBay route we prefer to see pricing starting at MSRP and then let the market set the sales price. Dealers can still protect themselves with a reserve. However, this process of super high “buy-it-now” take-it-or-leave-it pricing is a bit unseemly and reinforces the “we’re out to screw consumers” image that most dealers work so hard to avoid.

Jut my two cents. I could be wrong…


Source:
eBay via Jalopnik

Related:
[VIDEO] Man Asks Financial Guru “Can I Afford a Corvette ZR1?”
Corvette ZR1: GM Releases Official Pricing
[VIDEO] 1st 2009 Corvette ZR1 Sold for $1 Million

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The Suze Orman Show

Flipping through the channels over the weekend, I came across this little gem on a cable tv show. A viewer named Dan calls into The Suze Orman Show on CNBC and asks the financial diva if he can afford to buy the 2009 Corvette ZR1. In this same segment, Orman approves a $6,000 ring and a pair of $900 high heel shoes so why not grant Dan “the man” his dream car? But before Judge Orman rules, Dan has to present an overview of his finances. Watch the video after the jump.

Dan, seriously…calling into a financial talk show and asking permission to buy your dream car? Do what you want to do, and good luck finding a Corvette ZR1 at $120,000.


Source:
CNBC

Related:
Corvette ZR1: GM Releases Official Pricing
[VIDEO] 1st 2009 Corvette ZR1 Sold for $1 Million

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GM Offering 0% Financing on 2008 Corvettes

by Keith Cornett on August 1, 2008

The 2008 Corvette Z06

We knew it was coming and GM didn’t let us down. As soon as the 2009 Corvettes started hitting dealer showrooms, GM has announced a 0% financing offer on all new 2008 Corvette models including the Z06. This is a great opportunity for buyers to save thousands of dollars on interest payments as well as help dealers clear excess inventory to make way for the 2009 models.

The 0% financing offer goes into effect this weekend with terms up to 48 months for coupes and Z06 and 60 months for convertibles. A quick check of Jeff Hardy’s website shows the remaining 2008 Corvettes broken down as of yesterday to be:

  • 3,947 Coupes
  • 1,841 Convertibles
  • 1,704 Z06s.

If you’ve been waiting for a traditional model year end rebate, you’re in luck. Those that jump the quickest will have the greatest selection of 2008 Corvettes to choose from and the special offer expires on 8/19/08. Visit our friends at Kerbeck Corvette and Dave and gang will get you into the Corvette of your dreams.


Source:
GM.com
JeffHardy.com

Related:
June 2008 Corvette Sales

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Is Chevy Preparing to Sell Corvettes in China?

by Keith Cornett on July 21, 2008

Corvettes for sale in China?

This black C6 Corvette was recently spotted outside China’s National Department for Automotive Quality, the agency that reviews automobiles and decides whether or not they will be allow for sale in the People’s Republic. With China’s booming economy and burgeoning middle class, not to mention the fact that China will at some point become the world’s single largest market for automobiles, establishing a foothold for America’s iconic sports car only makes good business sense for GM.

One of the hurdles that Corvette will have to overcome is that Chevrolet is knows as a bargain brand in China much like Daewoo is in the US. GM sells the Corvette as a standalone brand or paired with Cadillac and Hummer in much of the world so this shouldn’t be much of an issue.

I’m not too up on my Chinese automotive trivia, but are their roads (and cars) right hand drive or left? If you know, please leave a comment.


Source:
ChinaCarTimes.com via Jalopnik

Related:
Japan’s Special Edition Corvette: The Corvette S-Limited Technorati Tags:
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Corvette Documentation

In a recent post from his Corvette Perspectives blog, prolific Corvette collector Terry Michael of Proteam Corvette shares his thoughts relating to documentation and Classic Corvettes.

Documentation is any paperwork generated by the factory/dealer when the Corvette was assembled and sold. It can include the window sticker, tank sticker, shipper copy, warranty book/protecto-plate, dealer invoice, dealer bill of sale and the owners manual packet.

Terry’s Three Facts about Corvette Documentation:

Fact one:
Most older (1953 to 1981) Corvettes do not have any form of documentation. A Corvette with documentation is the anomaly!

Fact Two:
Bloomington Gold and NCRS judges do not judge documentation and documentation is not required to have your Corvette judged, other than a title and proof of insurance. These judges are generally quite experienced and judge by a standard and that standard I refer to as “The Duck Test” being; If it looks like a duck, walks like a duck, and quacks like a duck… it most likely is a duck!!! Sometimes the evidence of the “The Duck Test” is so overwhelming, especially when performed by the truly experienced, it replaces the real need for documentation (paperwork).

Fact Three:
Sadly, the unreasonable and silly thinking that a Corvette without documentation has little value has created a covert cottage industry of entities and/or persons that make/print/create fake aged documentation.

Caveat Emptor:
If documentation is a requirement leading to your purchase of an older Corvette, please hire an expert to affirm that the documentation is, in fact, real and not something that was generated to feed that silly notion that a Corvette must have documentation.

I do see his point about the relevancy of documentation: As the majority of Corvettes do not have documentation, the Corvette itself can be documented against the standard used by the NCRS and Bloomington Gold. And if that Corvette meets the standard, then its value should not be penalized for lacking official documentation.

I would love to open this topic for conversation. How important would documentation be when purchasing a classic Corvette? Click here to comment and let me know what you think.
Source:
tmichaelis.com Related:
Corvette Values: 1966 327/350 Corvette Roadster
Proteam To Offer 40+ Corvettes at Bloomington Gold Auction
The Must-Have Option When Buying A Classic Corvette
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April 2008 Corvette Sales

by Keith Cornett on May 1, 2008

GM released April 2008′s Corvette sales figures and for the third consecutive month, the total number of Corvettes delivered was larger than the month before. April 2008′s Corvette sales totaled 3,190 – nearly 500 Corvettes more than were delivered in March, an increase of 18.5%. Although the number was still behind April 2007′s delivery of 3,227 Corvettes, the gap in year to year sales shrunk to just 1.1%. For the calendar year (Jan-Apr) 9,968 Corvettes have been delivered, lagging 12.6% behind the 11,403 Corvettes sold during the same time period in 2007.

Chevrolet just offered its first rebate of the year for Corvette. For the next five days, Chevy is offering $1,000 Bonus Cash for cars already on dealer’s lots. The $1,000 rebate is exactly what we called for back in February to move existing stock and clearing the way for the 2009 Corvettes.

2008 Corvette Delivery Statistics
Month Calendar Year-to-Date
Month 2008 2007 % Change Months 2008 2007 % Change
January 2,015 2,234 -9.8% Jan-Jan 2,015 2,234 -9.8%
February 2,071 2,784 -25.6% Jan-Feb 4,086 5,018 -18.6%
March 2,692 3,158 -14.8% Jan-Mar 6,788 8,176 -17.1%
April 3,190 3,227 -1.1% Jan-Apr 9,968 11,403 -12.6%


2007 Corvette Delivery Statistics
Month Calendar Year-to-Date
Month 2007 2006 % Change Months 2007 2006 % Change
January 2,234 2,579 -16.8% Jan-Jan 2,234 2,579 -16.8%
February 2,784 3,058 -9.0% Jan-Feb 5,018 5,637 -11.0%
March 3,158 3,655 -16.7% Jan-Mar 8,176 9,292 -12.0%
April 3,227 3,516 -0.6% Jan-Apr 11,403 12,808 -11.0%
May 3,300 3,317 -4.3% Jan-May 14,703 16,125 -8.8%
June 3,055 2,938 0.1% Jan-Jun 17,758 19,063 -6.8%
July 2,377 2,794 -11.4% Jan-Jul 20,135 21,857 -7.9%
August 2,877 2,990 -3.8% Jan-Aug 23,012 24,842 -7.4%
September 2,837 3,056 -3.5% Jan-Sept 25,849 27,903 -7.4%
October 2,484 2,761 -13.5% Jan-Oct 28,333 30,664 -7.6%
November 2,438 2,773 -12.1% Jan-Nov 30,771 33,437 -8.0%
December 2,914 3,081 -5.4% Jan-Dec 33,685 36,518 -7.8%


Corvette Stock Report:
A check of Jeff Hardy’s website shows a total of 6,770 2008 Corvettes on the ground. That’s an increase of just 28 Corvettes more compared with March’s 6,742.

  • 3,824 Corvette Coupes
  • 1,537 Corvette Convertibles
  • 1,324 Corvette Z06

According to the site, there are 617 2007 Corvettes still available at dealers across the nation.


Source:
GM.com
JeffHardy.com

Related:
March 2008 Corvette Sales
February 2008 Corvette Sales

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The End of the 2008 Corvette is Near!

by Keith Cornett on April 24, 2008

The sun sets on the 2008 Corvette Model Year

The opportunity for you to custom order a 2008 Corvette is rapidly coming to an end. Chevrolet dealers received their final allocations this week and you will need to act fast as this is the final week to get your order placed. Corvettes ordered this week will be built the week of May 19, 2008.

The 2008 model year for Corvette will come to a close on June 20th. The plant will be idled for three days as its prepped to produce the 2009 Corvette. Production on the 2009 is slated to begin June 23rd for Coupe, Convertible and Z06. ZR1 Corvette production is expected to start three weeks later on July 14th.

Constraints this week include:

  • QX3 Chrome Wheels
  • 67U Machine Silver
  • Z44 427 Limited Edition Z06
  • Z4Z Corvette Pace Car

As our sales analysis on the Indy 500 Corvette Pace Car indicated, dealers that took a chance and ordered the Corvette will have in stock and available in early May.

If you’ve already picked out your Corvette but have yet to decide on a dealer, contact Dave Salvatore at Kerbeck Corvette, the world’s largest Corvette dealer at 1-877-537-2325. Dave can help you navigate through the buying process and your Corvette can be delivered anywhere including the National Corvette Museum.


Source:
Kerbeck Corvette

Related:
Sales Analysis: The 2008 30th Anniversary Indy 500 Corvette Pace Car Replica
GM Announces Production Dates for 2008/2009 Corvettes

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30th Anniversary Indy 500 Corvette Pace Car

Late last year with much fanfare, Chevrolet announced that for the first time ever two Corvettes would be pacing the Indianapolis 500. One of the Corvettes is the customized Z06 E85 Concept highlighting GM’s Green Initiative and will showcase the ability of the automaker to run even the Corvette on E85 Ethanol. But it was the second Corvette that is even more interesting in our opinion as it marked the 30th Anniversary of the 1978 Corvette Pace Car and would be commemorated by a special run of 500 Pace Car Replicas.

With only 500 of these special editions available, you would think that these Indy Pace Car replicas would be in demand and sell fast, but from the conversations we’ve had with several high-volume Corvette dealers, that just doesn’t appear to be the case. Here is what we’ve been hearing as the major roadblocks to sales of the 30th Anniversary Corvette Pace Car and why we think owning this special edition is a smart investment.

Dealers may be bypassing this year’s Corvette Pace Car replica because last year model didn’t sell well. Many point to the late entry of the replica into the 2007 production model run. The 2007 Corvette Pace Car Replica didn’t hit the lots until June, well after the running of the Indianapolis 500. We also believe that demand for last year’s Pace Car was tempered by news of the 2008 Corvette models which featured a new, more powerful engine and interior upgrades. As a matter a fact, that news is attributed to an overall decline in sales of all 2007 Corvettes.

Last year, Chevrolet offered two special edition Corvettes at the same time, the Ron Fellows ALMS GT1 Championship Z06 and a Indy 500 Corvette Pace Car replica. Buyers overwhelmingly gravitated to the Ron Fellows Z06 Signature Edition. This year, Chevrolet again offered two special edition Corvettes at the same time: The 427 Limited Edition Corvette Z06 and the 30th Anniversary Corvette Indy Pace Car Replica and guess what? Buyers again gravitated first to the Z06.

So why is the 30th Anniversary Corvette Indy Pace Car Replica a smart buy? The first is economics. No, I’m not saying buy this car and you’ll make money on it. But you will lose less money because of its limited production of only 500 cars. Recent history shows the depreciation of the Corvette Pace Cars will be less than an average coupe or convertible Corvette and will generally start appreciating first and faster than their regular production counterparts.

1998 Indy 500 Corvette Pace CarTake a look at the 1998 Corvette Indy Pace Car. 1,158 of the Purple and Yellow Corvettes were produced. It’s 10 years old now and the five year depreciation number for the Pace Car replica is -19%. However, the 1998 Corvette Coupe’s five year depreciation is -26% while the 1998 Corvette convertible was down -29% over five years.

1995 Indy 500 Corvette Pace CarThe news is even better for the 1995 Corvette Pace Car. Only 527 of these Corvettes were built and over the last five years, the Pace Car has appreciated 19% while the regular production Coupe was down -7% and the roadster was down -12% over the same time frame. The Pace Car’s appreciation is even higher than the 1995 ZR-1 which shows an 8% increase.

The second reason we like this year’s Pace Car replica is that it’s offered in either a Coupe or Convertible model, and the option choices will all but guarantee that there will be some interesting combinations when its all said and done. We already know that there are no major changes for next year’s Corvette model so that hurdle has been removed. And forget the “All Corvettes are Red” mantra. The Indy 500 Pace Car is finally back in black, the number one selling Corvette color.

Lastly, the Pace Car is signed and numbered by 2-time Indianapolis 500 winner Emerson Fittipaldi, making this Corvette only the third model in the car’s 55 year history to feature a signature. We’re still hoping that in the future this honor is reserved only for those who’ve had a direct impact on the Corvette and the enthusiast community.

So the final question you should be asking is where can I get one? We suggest getting in touch with Dave Salvatore at Kerbeck Corvette who told us they have several available. Dave can be reached at 1-877-537-2325 . Also, I’d be remiss if I didn’t thank Jim “Z” of Spitzer Chevrolet who was kind enough to answer our inquiries for this story.


Source:
Appreciation and depreciation figures on the 1995 and 1998 Corvette Pace Car from Vette-N-Vestments 2008 Corvette Pricing Guide.

Related:
Two Unique Corvettes to Pace the 2008 Indianapolis 500
Video: Unveiling the 2008 Indy 500 Corvette Pace Cars

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Terry’s Corvette B-List: The Affordables

by Keith Cornett on March 25, 2008

1955 Corvette in Harvest Gold

Last week Terry Michaelis of Proteam Corvettes shared his Corvette A list. This was his top 10 Corvettes to buy if money was no object. Those 10 Corvettes represented the rarest of the rare, from a 1963 Grand Sport to a 1971 LS6. This week, Terry brings us his B-List: The Affordables. This list contains 15 of the most collectible Corvettes that are still in reach for most collectors. With Barrett-Jackson happening this week it’s possible that Proteam could be shipping back to Ohio several Corvettes on this list.

Terry’s Corvette B-List

1955 V-8
700 produced (7 Blue Flame Six; 693 with V-8’s) • values $125K to $350K
1957 Fuelie
1,040 produced (RPO-684 HD racing suspension, 51 produced; RPO-579E air box, 43 produced) • value $250K up on the RPO-684/579E
1958-’62 Fuelies
RPO 684 + RPO 687 HD brakes + suspension; 884 produced in all 5 years/177 per year • value $150K up (1958 RPO-684 are very special and more expensive)
1958-’61 Dual Four
245 hp and 270 hp • value $100K up
1963 Fuelie Split Window
1,300 prox. produced • value $100K up
1965 Fuelie
last year fuelie (771 produced) • value $100K up
1965 396-425 hp
first/last year for the 396 (only 2,157 produced) • value $100K up (M-22 adds $150K to $250K)
1966 427-425 hp
5,258 produced • #2 in top 40 fastest muscle car list • value $100K up • 15 M-22 produced (adds $150K to $250K)
1967 435 hp
3,754 produced (popular then/popular now) • colors & documentation is important & rare • value $150K up
1963-’67 Tanker
63 ’63’s produced, 38 ’64’s produced, 41 ’65’s produced, 66 ’66’s produced, 2 ’67’s produced • values range $125K up • ’63’s are hot and just try to find a ‘67 (probably $500K to $1 million)
1967 400 hp/air/convt.
colors & documentation is important • value $150K up
1968/69 L-89
624 1968’s/390 1969’s produced with aluminum head option • value $150k up
1970 LT-1
1,287 produced • value $60K up
1971 LT-1
1,949 produced • value $60K up
1972 LT-1
1,741 produced • value $60K up • add air and price soars especially convertibles (less than 50)

Footnotes:

  1. must be the real deal… not fakes or frauds
  2. Colors (Black) adds a lot… must be factory original body/trim tag
  3. Original documentation, history, and Bloomington/NCRS show awards adds a lot
  4. Original rare options adds a lot (set of Kelsey bolt-on wheels & red stripe tires sold on eBay in ‘06 for $33K)
  5. Original, unrestored in excellent condition adds a lot.
  6. Caveat Emptor (Buyer Beware). We are adrift in a sea of sharks disguised as mermaids.
  7. When it is time to sell… be a smart seller. High-profile events like the Barrett-Jackson and Mecum Muscle Car auctions will get you more money for your car than newspaper and trade publication advertisements. Plan ahead if you’re considering selling your baby: seek good lot numbers (pay a premium if you must) and baby-sit your car during the event to answer questions and show pride in your car – it is a reflection of you, and people simply pay more if they like the seller.
  8. A-E Equals an overall package and desirables.

Do you see anything here you would like in your garage? Leave a Comment (below) and let us know.

Sources:
tMichaelis Corvette Perspective

Related:
When Money is No Object: Terry’s Corvette A-List
Appreciating Corvettes: Top 12 Price Gainers of 2007

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