With the 2020 Corvette Stingray being the hottest car currently for sale in America, we knew that there would be a number of owners that would attempt to flip the car for big bucks. Certainly, we’ve all seen the eBay ads with cars priced at $10,000 to $30,000 over the MSRP and we know there will be buyers for those cars no matter the price.
Back in May we wrote about the 2020 model year Corvettes being an “instant collector car” as that’s when there were only 2700 built prior to the COVID-19 shutdowns. And with the factory closed, it made a lot of sense for those early owners to go ahead and take the quick payday for their vehicles. Now that production is steadily rolling again, is the quick cash still there?
Apparently, many sellers believe it is.
For those buyers who missed out on ordering the 2020 early enough, the secondary market is turning out to be the only place where you can buy a 2020 Corvette and be drive it away immediately. While some dealers may have a 2020 Corvette for sale on the lot, it’s because the buyer backed out of the deal. And from the dealers we talk with, that’s not happening that much with the 2020 Corvettes.
A trip over to AutoTrader.com now shows a nationwide search for used 2020 Corvettes brings back 132 results. While some of these cars are listed for sale by individuals, in many cases you will find that the original owner has already sold the car to a pre-owned dealer who then adds even a larger mark-up to the price of the car.
The listings on AutoTrader range from a Black 1LT non-Z51 Coupe priced at $89,750 to a loaded 3LT Shadow Gray Z51 Coupe with the High Wing and 5VM Aero Package priced at $137,000. Most colors are available from our review and it appears the secondary market is about the only place where you can get a 2020 Corvette with those discontinued options like the high wing and aero package.
A similar search at Cars.com shows 118 used 2020 Corvettes available with White 1LT non-Z51 Coupe selling for $89,900 while the highest priced Stingray is a While 3LT Z51 Coupe with only 140 miles being sold by its original owner for $140,000. As we were scrolling through these listings we did see a few of the same cars that are listed on Autotrader as well. And surprise, surprise as we even found that 2020 Corvette with the crazy wrap job listed for sale at $95,500 with the car having just 2,100 miles on it.
So you have some choices if you absolutely need to have the car right now. And despite the mark-ups that are shown, these prices are still much lower than the MSRPs of similar sportscars from Porsche, Ferrari, McLaren, and Lamborghini. So if you’re a well-healed buyer who doesn’t need to “bring a banker,” your next Corvette could be just a keyword search away.
Related:
Bidding Now Open for the 2020 Corvette Stingray at Mecum’s Summer Kissimmee Sale
2020 Corvette Stingray Offered for Sale in Brazil for the Cost of Four Porsche Caymans
Market Adjustment: Texas Chevy Dealer Offering a 2020 Corvette for $37,970 Over Sticker
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It may be that the Pandemic put allot of folks in cars they couldn’t afford without a job, savings, or money to pay their mortgage on their homes. My C8 isn’t going up for sale. House is paid for, I am three time retired, DOD,ARC, and SSA. And the I levered the price of my C8 so i only owe the money I paid to myself at Zero percent interest! The one thing about a Fixed Income is it only works if everyone else Broke!
I think one needs to read between the lines of this article. When I see used C8’s on dealers lots I tend to think economic hardship, especially in light of ever increasing unemployment numbers and Covid infections with no end in sight.
Anyone can list a car for sale $20k over MSRP. The better question is: Who will be lucky enough to find a buyer for anything near their asking price, especially in light of increasing Bowling Green production numbers and ever increasing economic uncertainty. Taking a depreciation hit after delivery at MSRP is bad enough. Most sensible people don’t need to add another $20k to that already large depreciation. Patience is not only a virtue, it’s also a great money saver!
While the stock market continues to rise because of “free” money being printed by the Fed at an alarming rate one needs to ask: When will the free money high of the market come crashing down? If and when interest rates are forced higher what will the debt service of the United States look like and what will that debt service take away from other essential spending such as infrastructure? Wall Street is NO LONGER an indicator of Main Street!
The piper will eventually be paid. It’s not a matter of if, but when.
I will wait till there are units sitting on the lot where I can see many of the different options and body styles. Then and only then I get the car and the deal I want. Like I did with my 2019 2LT stingray and my 2019 Silverado. They are Chevys not Ferraris. I remember when the 1st Miata came out 30 grand to be the first on your block with one. Like you say why add 20+ grand to the pain?
I’ve been heavily involved in the Corvette market since 1976 when I started publishing the nations largest independent Corvette magazine, and followed up into the early 80’s with several Corvette Restoration Books, one of which was the number one selling restoration book for 53-67 Vettes for about 2 years running.
I’ve watched the big guys come and go, and the little guys become big guys in this industry. It’s been a whale of a good roller coaster ride. I’ve had 10 Corvettes, and restored several but was NEVER able to regain my true excitement or passion for Corvettes once they produced the 1968 models and beyond. My entire love for Corvettes has been because of the C1’s and C2’s. The C7 produced a small ray of sunshine but still not the excitement of the C1’s and C2’s in the beginning years of the industry. HOWEVER, When the C8 was introduced, I ordered one the following day (my 11th Corvette) but was still #23 on my dealer pre-order list. I want a 2020 because of the design and performance…….not because it’s the first year. There are also thousands of individuals out there who feel the same way and are willing to pay a premium to get one. Here’s the catch. 70% of us who preordered 2020 C8’s WILL NOT GET THEM. My dealer has already switched mine to a 2021. GM is going to be lucky to produce 15,000 models. That means that about 40,000 people who had 2020’s ordered will switch to 2021 models. Therefore only about 15,000 – 20,000 2021 models will be able to be ordered by new people wanting a C8……..regardless of the year. THAT LEAVES IN A NORMAL YEAR ABOUT 40,000 people that normally would have been able to order a new Vette, still lying over in the weeds crying. WHETHER IT’S A 2020 OR A 2021, SOME OF THOSE 40,000 INDIViDUALS LEFT ABSOLUTELY OUT IN THE COLD (ESPECIALLY THOSE WITH $ $ $ $), WILL PAY WHATEVER IT TAKES TO DRIVE A NEW OR SLIGHTLY USED C8. It won’t “have” to be just the 2020 model.
I applaud the businessmen/entrepreneurs out there who had/have the forethought to make some money on their C8. Some obviously, have fallen on hard times, and there might be some good deals……but those will be few and far between. There is still going to be a market for selling your Corvette 20 or 21 for a good amount over MSRP.
Signed, Swissrick…..obviously just my email name, and not the name I wrote my books under, but now I’m just simply a retired Corvette nut (finally again after the C8 introduced)
Like with anything else, once the excitement wears off it starts to get old. People want to be the first one on the block to have one. Once they have it, they no longer want it. It’s not an economic issue, people who buy Corvettes have money, most pay for them in cash and rarely finance. And some will clear space for the higher performing models that haven’t come out yet.
I will sell my tourch red 3lt .I have a triple black 04 ragtop sitting beside the red in my garage .I have 1300 miles on it.email me if interested .I am in Brandon,fla
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