When you’re hot, you’re hot.
Those lyrics from country singer Jerry Reed are right in tune with the current C8 Corvette.
In a post this week, the folks at Cars Direct say they expect new Corvette buyers to continue to see high prices “for the foreseeable future.”
The days of massive price cuts for the last of the front-engine C7s are long gone, and Cars Direct points out that even GM workers aren’t immune from the high prices for the popular new mid-engine Stingray that’s excluded from the GM Employee Pricing Program.
With every 2020 and 2021 Corvette already accounted for, Chevy isn’t even listing the cost to buy or lease one of the hot new sports cars in its online payment calculator.
Cars Direct says leasing offers “little relief” for Corvette customers, noting that Chevy’s standard lease for the Stingray remains 6.2%, same as it was for the same period in 2020. That means the cost of a $0 down, 12,000-mile-a-year lease with a residual value of 67% makes the monthly payment about $808.
While visitors to this site are unlikely to heed the advice of Cars Direct, they do suggest that customers might find a better deal leasing a 2021 F-Type, especially with Jaguar dropping lease prices to as little as $499 a month for 36 months. Even with $4,995 due at signing, the effective price for a 7,500-mile-a-year lease is just $638, some $170 less per month than the base 1LT Corvette. If you’d rather buy, Jaguar has an unadvertised rebate of as much as $8,000 off MSRP through March 1.
History says it’s bound to happen, but with upgraded models predicted to arrive in future years, will the C8 Corvette ever cool down?
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