[VIDEO] C8 Corvette Prices Can Not Stop Falling

By
Mitch Talley
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15
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[VIDEO] C8 Corvette Prices Can Not Stop Falling

Photo Credit: Fourwheel Trader


Fourwheel Trader is back on his YouTube channel with the latest data on the C8 market.

If you’re already an owner, this new report might not be the news you want to hear, but if you’re new to the market, this might be the best time in a while to buy a new or used Stingray, Z06, or E-Ray, he says.

Summing up his report, Fourwheel Trader says the C8 market continues to soften, thanks to increased supply, with Stingrays down 12.6 percent and Z06s down 22.1 percent year over year. Data for the E-Ray is still slowly coming in, but he expects the same levels of depreciation for this model as well.

Of course, since in March 2021 the red-hot C8 Stingray was No. 1 in iSeeCars’ study of the Top 20 Fastest-Selling Vehicles, it was only logical that “what goes up must come down.”

Corvettes for Sale: C8 Prices Can Not Stop Falling


Still, Fourwheel Trader points out that just because C8s are among the top 25 percent depreciation-wise doesn’t mean they’re necessarily cheap. The median price is still $83,000, he points out.

“Right now,” he believes, could be the “perfect moment” to become a C8 owner since the market is heavily influenced by seasonal trends. His data shows the best time to buy is in November and February each year, with prices reaching their peak each May.

Corvettes for Sale: C8 Prices Can Not Stop Falling


He also notes that the used C7 market is continuing to be strong, especially the Z06 models that are actually 39 percent higher than pre-pandemic levels and 19.4 percent higher even when adjusted for inflation.

The bottom line, in our opinion, is that buyers who paid above MSRP for their C8s are the ones who are suffering the highest levels of depreciation. If you were wise enough to buy from a dealer who offers these cars at MSRP or even thousands of dollars below (as is happening now in several areas), you’re still in good shape. In fact, MSRP-buyers of Z06s have seen 0 percent depreciation in many cases since making their purchase, according to Fourwheel Trader’s data.

Another bottom line: Corvettes are meant to be enjoyed. If you’re concerned about trying to make a profit on one, you’re probably going to be disappointed.


Source:
Fourwheel Trader / YouTube

Related:
Hagerty: C8 Corvette Are Depreciating Faster than C7 Corvettes
[VIDEO] C8 Corvette Prices Continue to Tumble
STUDY: The Chevy Corvette is One of the Top 20 Vehicles that is Currently Better to Buy New vs Lightly Used

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15 COMMENTS

  1. Hey , I bought a 2020 2LT off ebay when they were Un-getable , well almost , and paid a premium. The fun of driving the C8 exceeds the value of a Dollar to me. I purchased 4 more and flipped them which offset my premium , plus. recently i bought a 22 3LT, Z51, w lift , supercharged, w/ performance exhaust, intake , cats, ect…. w/ <than 4,000 miles…. I think it is a buyers market and there are some terrific deals. If you have the money to spare , don't deny Yourself the joy of this car. I bet all high end luxury sport cars are down , the entire car market is down and going deeper …. Find the car of your dreams and Get It, memories cost money …… HNY 2 Everyone an Safe Travels

  3. Depreciation. As a percentage? Or as in dollars?.
    The obvious, but lost in the ‘depreciation’ go round is dollars.
    Some guy on YouTube braged at how his Ferrarri was depreciating at a rate far less than his C7 Corvette. Yet he overlooked that the actual depreciation, dollar wise, was double on the Ferrari than the amount on the Corvette.
    You can’t take percentages to the bank, only dollars.
    I’ve driven and enjoyed all my Corvettes, Lotus Esprits, Vipers ans Shelby 60s GT500s.
    When people ask my answer is always the same. ” I own them, they don’t own me”.
    Just sayin’.

  6. I have friends that would love to own a C8 but can’t spend $100,000. They might bite at $50,000. I hope they can get one some day. I ordered and received a new 1979 Corvette and kept it until last April. So, approximately 45 years of ownership… Sold it for what I paid for it despite having put 220,000 miles on it. Replaced it with a 2024 Z51 HTC Stingray. I don’t have any urge to sell it. Perhaps I’ll keep it for 45 more years? Lol. My plan was to trade the Stingray in for a new C8 ZR1 when I get the opportunity to order one (estimating 2 years). But I may end up keeping both.

  7. I had a C7 Z51 and I really enjoyed the blurb, blurb idle as well as the really nice lines. I like the C8 from the back of the doors to the front (except for all that plastic), but the rear is a deal breaker for me. The new Z06 fixed it a bit by moving the exhaust back to the center and tightening up the lines a bit, but I still complain about so much plastic. Many people refer to the C8 a a super car, but really? Just have a look at most any real super car and there’s really no comparison. Heck even the old Ferrari F430 has a much more refined rear and sleek attractive lines. And why in the hell would Generic Motors ever prioritize a golf bag trunk in a “supercar” it just doesn’t make sense. I will consider the Z06, but the regular C8 is not for me; it just looks too cheap and is a very compromised car.

  8. It’s kind of silly to get offended by subjective terms like Supercar. In the early 1970s the big block Chevelle was called a supercar in some magazines. I don’t think I have ever read advertising from Chevrolet that called the C8 a supercar. When it comes to styling, it’s actual sales that count, not individual opinions. 2023 was the 2nd highest sales year for Corvette in history with 57,300 sold. 1st was 1979 with 57,700. Some armchair critics may not care for C8 styling, but it’s very popular with actual buyers that shell out on average $100,000. That’s pretty cheap compared to other cars in it’s market/performance segment. Some praise the looks of a Ferrari. Then they criticize C8 for being a cheap Ferrari look-alike. If that’s true, why not give Chevrolet credit for making a car that looks like a Ferrari for 1/5th the price – making it attainable for ownership by a lot more people?

  11. I understand that. Keep up the high standards and preferences and buy something else. Speculative criticism of the upcoming C8 ZR1 is good because I want potential buyers in front of me to drop off of the several years-long order reservation lists. Works for me! Then I will be able to buy a fantastic C8 ZR1 a little sooner.

  14. But think about it. You can buy pickup trucks today that cost more than a Corvette. People try to disparage the Corvette as a Ferrarri look-alike while praising Ferrari’s for their good looks. If it weren’t for double standards, some would have no standards at all. What’s so wrong with getting Ferrari looks for 1/5th the cost? Corvette is still a good value.

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