Bob vs the Mob: Why Sit on the Sidelines When You Could Be Enjoying a C8 Corvette Today

By
Keith Cornett
-
15
13045

Bob vs the Mob: Why Sit on the Sidelines When You Could Be Enjoying a C8 Corvette Today

Photo Credit: Chevrolet


Prior to the arrival of the C8 Corvette, I would have told you that there is no reason to pay more than sticker for a new Corvette as there are plenty of dealers, including most of the top volume sellers, who will gladly sell you a new Corvettes at MSRP. We figured that initial demand would be high during the roll-out and then pricing would fall back to normal by the end of the first model year production.

But interest in the first-ever mid-engine Corvette exploded following the reveal and buyers responded by selling out the first year production of the car even before the first customer-ordered model was produced. Then came the UAW strike in late 2019 followed by the COVID pandemic in March of 2020 which closed the plant for two full months and delayed launching the 2nd shift until August 2020.

Those two events cut initial projections for a 40K unit model run and even after extending the model year for several months, Chevrolet built just half that number. Demand was even stronger now as supply fell dramatically, and for many buyers, the only opportunity to purchase a C8 Corvette would come on the secondary market where prices ranged from $5,000-$20,000 over MSRP.

We’ve written on this phenomenon a couple of times, including our “Five reasons to pay more than MSRP for a new Corvette” which was factual in its content, yet widely panned by the “Corvette Pricing Mob” who is quick to call anyone an idiot or a moron for paying more than sticker for their new Corvette. Seriously, just read the comments on that page.

Last week, we offered a sort of a follow up to that with a YouTuber named Fourwheel Trader who broke down C8 Corvette pricing utilizing real-world data and he found that you could essentially buy a new Corvette, enjoy it for up to 10,000 miles, and then sell it for a profit. Pretty remarkable considering the Corvette is a mass-produced American sports car that will soon be starting its third year of production with demand still as high as ever.

That I have to explain all this before getting to the gist of this article is also telling, and the comments I am sure will reflect what we are about to share. This post below comes from the C8 Corvette Facebook Group from Steven Settingsgaard and it really hit home with us. He calls it a “Short Story of Bob vs the Mob:”

Spring of 2020: Bob wants a C8 Coupe but doesn’t want to wait so he gladly pays $20K over sticker.

The Angry Price Mob feels they are too entitled to wait and too smart to pay over MSRP so they lash out. “You idiot, in a year that car will be worth $40K less than you paid. Only a moron doesn’t wait, these prices will crash like all Corvettes do.”

Spring of 2021: Bob has now enjoyed his C8 for a full year but he decides he would like an HTC. He sells his “used” coupe for what he paid for it, $20K over sticker.

The Angry Price Mob is still waiting but still too smart to overpay so they lash out at Bob once again, this time it’s for selling. “That’s price gouging!” “You don’t love Corvettes as much as I do, I would never sell for just money!”

Bob ignores the mob again and immediately buys an HTC for $20K over sticker and at the same time puts a deposit down on a Z06.

The Angry Mob: “What a complete moron you are, I can’t wait to see what you have to say a year from now when you’ve lost your ass on that HTC! I will wait a year and buy that car off you for $40K less than you paid for it!”

Spring of 2022: Bob’s Z06 comes in so Bob sells his HTC for $10K over original sticker and has enjoyed the 2 C8s now for 2 full years. His total depreciation for the period is $10K.

The Angry Price Mob is still waiting, still entitled, and still too smart to “overpay.” So they lash out at Bob again. “You want $10K over sticker for a used car, now that they are “everywhere? Greedy price gouger!”

Bob: Drove C8s for two full years and now in 2022 is driving his Z06 and suffered almost no loss for it.

The Angry Price Mob: Still too entitled and too impatient to order a car; still too smart to overpay; still has never owned a C8; still hurling insults and trolling ads; still too blind or too stubborn to see they’ve been wrong all this time.

Moral: Be more like Bob. At least stand quietly on the sidelines and recognize when you’ve been proven wrong.

Just think of all the things we as Americans buy over the list price because it brings us immediate satisfaction. Before COVID, you might have paid more to get good seats for a sporting event or to attend the big concert in town that was sold out. Even little things will have us spending more than lower priced items if it means that we can get it delivered quicker. You can thank Amazon’s two-day Prime shipping for that. Look at the housing market right now where new houses are selling well over listing price. The point is that Americans have the highest level of disposable income and spending that on the things we love and want is about the most American thing ever. So don’t let the online Corvette Pricing Mob beat you down when it comes to buying America’s favorite sports car. They will still be waiting and complaining while you’re out there driving the American dream!


Source:
C8 Corvette Facebook Group

Related:
Five Reasons Why You Should Buy a Pre-Owned C8 Corvette Now, Even If It Means Paying More Than MSRP
[VIDEO] C8 Corvette Market Update and Depreciation Analysis
The Chevrolet Corvette Was the Fastest-Selling Car During the Month of April 2021

 



-

RELATED ARTICLESMORE FROM AUTHOR

15 COMMENTS

  1. Guess I’m part of the mob who paid less than MSRP for a 2021 HTC and took delivery in December 2020. Only a few dumb reasons for paying a premium. 1. Too lazy to figure out how to buy a new C8 at MSRP. 2. More money than sense. 3. Believes everything you read on the web, including the hype by flippers and stealerships. 4. Have the patience of a 3 year old.

    I’ll also comment on the Z06 part of the story. 1. As best I know GM has not announced a release date for the Z06 so Bob will have a stealership sitting on his large deposit until hell possibly freezes over. 2. Bob apparently doesn’t realize that large deposits (read free $$$) can actually hinder the arrival of Bob’s new C8. 3. Based on all the rumors I’ve heard I’m pretty certain that I don’t want a Z06 and here are the reasons why… I love the deep throated sound of my naturally aspirated C8. I don’t care for the whine of a flat crank screaming at 9000+ RPM. I also don’t think I need the extra 300+ horsepower for my daily driving on streets where the average speed limit is around 30 mph. Different strokes for differenct folks, but a patient wait and see approach usually pays off.

  2. From a few of us that don’t or didn’t know the procedure for buying a 2020 C8, I am so happy with that ‘purty lil’ car sitting outside my door that I am on several dealer list to purchase a Zo6 and a E Ray. OK , maybe I have more $$$ than sense, But , I earned every damn penny and I’ll piss it away any way I want. So , Fred … increase your earning potential rather than worry about my $$$$…peace , love , fish , golf and C8s …baby

  3. I don’t see the connection between “earning potential” and common sense. That said,,, please feel free to “piss away”! 🙂

    PS: I also don’t care about your money. I do however car about my money.

  6. Everything you relate is spot on. The beauty is that everyone has their own choice on what to pay for their C8. But as pointed out above, good oil’ Bob isn’t driving around in a Z06, and won’t be until the 23 model rolls around. So up to that point, you’re spot on. BTW, my name has been on the list with the good Mr. Furman up at Criswell since 2020 for a nice FPC HTC when 23 rolls along.

  7. I am with Fred; I am part of the mob. I put my C7 GS on the road for well under sticker, and it is highly unlikely I will pay sticker for a C8. Yes, people with too much money should piss their money away on something that is more socially redeeming than a car.

  9. Real estate…. Bubbles have popped and bubbles will pop again. This same type of “overvalued” type psychology has happened over and over and will continue to happen over and over again until people wise up. Example: Dutch Tulip Bulb Market Bubble in the mid 1600’s. At the time people were going nuts over tulip bulbs (yes a flower) to the point where some types of tulip bulbs would cost you as much as a new house! The bubble burst and a lot of people where caught holding a lot of worthless, overpriced tulips. The C8 is a tulip of the 2020’s which like the tulip bubble will eventually deflate or burst. Marketing hype is a great tool for sales which GM is mastered, unlike their Over the Air software updates!

  10. We all do foolish things with our surplus monies. Some have a problem with , Do I sit and look at my money ? or , Do I sit and look at a Rapid Blue ‘Satin’ wrapped C8 ? not a hard choice for me.. and , if I am Lucky enuf to get a Z06 and/or a E Ray , I will….. Fact of life , Some Can & some wish they could…..:-) gotta go , I’m up on the 1st T…..

  11. Fred, your comparison about the Tulip and the C-8 is ridiculous. You can grow
    Tulips at will. Try that trick with a C-8. You said the C-8 will be worthless and overpriced, just like the Tulip. Corvettes have never been worthless and overpriced. All financial trends have ebbs and tides. Have another
    drink.

  12. J. Mark Rost You missed the whole point of the “Tulip Mania” story. Anything, including cars can create a bubble which eventually pops. Pay 30k over list and two years later after the mania settles out the real depreciation kicks in and instead of losing 30k you end up losing 60k. Like some other groups it appears that the Corvette blogger has sold out to his sponsors. Not surprising since he’s obviously in this for the $$$ like a lot of other people. I’m looking for cred and not marketing.

    I don’t give a rat’s a$$ about other peoples money unless it affects my $$$. i.e. overpaying for a mass market item drives up prices for everyone. But realistically this type of behavior is never going to change, so if you want to fatten up the flipper or stealership’s pocket I say go for it. I bought my C8 to drive and enjoy and not to flip, unlike 30% or so of all 8 sales.

  14. waaaaaaa waaaaaa poor ole’ red…. waaaaawaaaaaaaaa ain’t life grand , hell i pay 2 much 4 everything..the rv -2 much , the boat -way 2 much , the lake house – i won that playing cards , the jet ski & 4 wheelers that don’t ruin- i pd & pd & pd..and , i will pay 2 much for the next ‘vette , but i’ll have one ,,,or 2..if i feel like it…….i’m debt free and make more than i spend ..so , where is it, i want it ….i’ve owned some nice cars that i turned into my truck , i am not going to promise but I am going to try not to take the c8 hunting, but my dog gets POd when we don’t take ‘blu’…….waaaaa waaaaa…Seriously , it makes no diffence to me what ‘Fred’ says or thinks. I have never lived by what the ‘freds’ thik . And , I hope he has a terrific life and is the 2th happiest Corvette owner in America , regardless of price. I don’t know ‘fred’ and have no ill will to him about anything 🙂 , life is 2 short …peace

Comments are closed.