STUDY: Corvette Ranks Third Among Sports Cars Given Up Within First Year of Ownership

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STUDY: Corvette Ranks Third Among Sports Cars Given Up Within First Year of Ownership

Photo Credit: CorvetteImages.com


There’s nothing like the smell of a new vehicle but for some folks that smell quickly turns rank.

In a new study, automotive research firm and car search engine iSeeCars.com set out to discover if paying big bucks for a vehicle necessarily make the owners happier.

Indeed their research found that eight of the top 10 models that were resold as used within the first year with at least 1,000 miles on the odometer were luxury brands, led by Mercedes-Benz C-Class at 12.4 percent and BMW 3 Series at 11.8 percent.

“Despite the popularity of these vehicles, they generally have below-average reliability ratings from Consumer Reports, which could contribute to why owners get rid of them so quickly,” said iSeeCars CEO Phong Ly.

Breaking it down into the sports cars given up most often within the first year of ownership, iSeeCars found the numbers lower for that category. In fact, the Nissan 370Z led the way with just 7.1 percent resold within the first year.

The Chevrolet Corvette and Dodge Challenger were next at 6.4 percent, followed by the Ford Mustang at 6.3 percent and Chevy Camaro at 6.1 percent. The average for all sports cars was 6.1 percent.

STUDY: Corvette Ranks Third Among Sports Cars Given Up Within First Year of Ownership


We’re not certain that the results of this study should be taken as a slap on any of the vehicles involved. More than likely the owners that sell quickly may have had a change in their financial or family situations that required such drastic measures be taken. We also know more than a few owners who like to have the latest Corvette available or those that upgrade from one model to another in the same generation.

After all, how many people really would want to give up a new vehicle like a Corvette or a Mercedes if it wasn’t absolutely necessary? Furthermore, the depreciation hit in that first year should be enough to make any owner think twice about selling so soon.


Source:
iseecars.com

Related:
STUDY: Corvette Ranks 3rd Lowest in Five-Year Depreciation
STUDY: Corvette is Second Among Vehicles that People Keep the Longest
REPORT: Corvette Convertible Tops List of Least Driven Cars

 

9 COMMENTS

  1. Lot of impulse buying more than likely – the vehicle doesn’t meet whatever their expectations were.

  2. I agree with Chuck. Impulse buyers that realize they cannot afford the payments. Caviar dreams on ramen budget? I’ve known a few…

  3. I’ve had seven Corvettes since 1977 when I bought #1. The shortest duration of ownership was 2 years and the longest was 8 years. In all cases I wanted to upgrade to a newer model.

  4. Yes, I think that people suddenly realize that they are in over their heads. The C-Class and the 3-Series are essentially entry-level cars for those luxury brands. I do not think reliability would be an issue for a new car in the first year; I own a 2009 328xi and and have had some significant issues come up but only with considerable mileage on the car. I am puzzled by the sports cars, however. A 370Z is kind of entry-level but a Porsche 911 requires some serious financial commitment, as do the various Corvette models. The depreciation kick would be brutal after only a year.

  5. After the summer of love, comes the cold hard winter of the mountain of 6, 7 or even 8 years of car payments on a toy. Hot cars are like a hot bath. After awhile, they are not so hot.

  6. I never sell anything, I keep what I have and buy something new to keep things fresh and interesting.

  7. I think your survey needs to take into account how many of these cars are leased for 1 year
    Especially corvettes! I have owned 8 through the years and I’ve noticed that a lot of them were 1 or 2 year lease programs

  8. Steve, May 1st 2019/ my 2018 Z06 is awsome! Torch Red with red competition seats. At the ripe old age of 69 and in great shape and healthy, I plan on holding on to my toy! With four grandchildren I want them to experience the Corvette dream by driving mine.

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