Used C8 prices continue to drop

teamzr1

Supporting vendor
Prices of the mid-engine Corvette continue to plummet so far in 2024, continuing a trend that began in the summer of 2022.

“The good news for you as a value-conscious buyer,” according to Fourwheel Trader, “is that you are no longer buying at the market peak.
The inevitable drop occurred and now is definitely a better moment to buy than last year.”

The depreciation rate for the 2023 Z06 has especially plummeted, he says, noting that prices have dropped 31.6% as premiums above MSRP have evaporated.
It appears that if you were wise enough to buy from a dealer at MSRP, you should be seeing zero depreciation at worst.

Used Stingray prices have been falling at an annual rate of 12.9%, but if you want to save even more and minimize your losses, that you wait for the usual seasonal discounts this winter.

“But if you want a new car, be aware that they are being discounted now and that it can pay off to shop around until you find one below MSRP,” he says.

C8s were seemingly immune to depreciation in the first couple of years of production, but now that Bowling Green is pumping out 50,000 a year, the demand is finally starting to be met and prices are falling.

That’s certainly great news if you want to climb behind the wheel of what many consider the greatest Corvette ever but don’t have bottomless pockets.
 

Roscobbc

Moderator
Wonder how the used C8 UK market is comparing......quite a few ultra low mileage used one on the market......speculators perhaps?
 

RobWalker

CCCUK Member
Prices of the mid-engine Corvette continue to plummet so far in 2024, continuing a trend that began in the summer of 2022.

“The good news for you as a value-conscious buyer,” according to Fourwheel Trader, “is that you are no longer buying at the market peak.
The inevitable drop occurred and now is definitely a better moment to buy than last year.”

The depreciation rate for the 2023 Z06 has especially plummeted, he says, noting that prices have dropped 31.6% as premiums above MSRP have evaporated.
It appears that if you were wise enough to buy from a dealer at MSRP, you should be seeing zero depreciation at worst.

Used Stingray prices have been falling at an annual rate of 12.9%, but if you want to save even more and minimize your losses, that you wait for the usual seasonal discounts this winter.

“But if you want a new car, be aware that they are being discounted now and that it can pay off to shop around until you find one below MSRP,” he says.

C8s were seemingly immune to depreciation in the first couple of years of production, but now that Bowling Green is pumping out 50,000 a year, the demand is finally starting to be met and prices are falling.

That’s certainly great news if you want to climb behind the wheel of what many consider the greatest Corvette ever but don’t have bottomless pockets.
What a load of cod. Us content on a uk forum - waste of time effort and content. Stuff like this shouldn’t be on here
 

teamzr1

Supporting vendor
What a load of cod. Us content on a uk forum - waste of time effort and content. Stuff like this shouldn’t be on here

Really ?
People in the UK buy used C8s from the USA, so you would think a smart buyer would want to know what used C8s prices are today over
average costs just 9 months ago
In fact, people knowing US prices are much lower than in the UK, people might think it would be cheaper to buy from the USA
and ship to UK and be cheaper than UK used C8 prices ?

Hmm,
Corvettes in the UK are US content, so guess they should not be on here either ? :=(
 

Chevrolet

CCCUK Member
TBH ZR1, I suspect from my insatiable desire to look a Vette ads over here, there are only a handful of LHD C8s in the UK? To test the pricing theory, select the best value C8 2LT or 3LT with Z51 you can find, and put it into the ShipMyCar website. Let's see how much that is "on the road" in the UK? Be interested to see that.

"Vettes in the UK are US content" Good point! :ROFLMAO:
 

Roscobbc

Moderator
If you consider the LHD/RHD Mustang market here in the UK I'd guess the RHD UK spec' ones have been around long enough and 'entrenched' long enough in the car culture as proper UK cars to make any import LHD Mustang a relatively difficult sale (unless really cheap - which is unlikely due to import duties etc or looking to sell in Europe) Having said that there will be far more late model RHD Mustangs around, now and in the future )albeit that the drivers won't be traditional 'Yank' enthusiasts) which perhaps would make a LHD C8 version a poor sale?......again unless looking to sell to a LHD market customer?
 

Chevrolet

CCCUK Member
I was looking for a C7 in 2019 and couldn't find the one i was looking for. I put the best car I could see in the US into the ShipMyCar website and that was telling that on the road in the UK, it wasnt cheaper than the very few cars for sale in the UK. Eventually found a UK car. Much depends on exchange rate of course.
 

teamzr1

Supporting vendor
TBH ZR1, I suspect from my insatiable desire to look a Vette ads over here, there are only a handful of LHD C8s in the UK? To test the pricing theory, select the best value C8 2LT or 3LT with Z51 you can find, and put it into the ShipMyCar website. Let's see how much that is "on the road" in the UK? Be interested to see that.

"Vettes in the UK are US content" Good point! :ROFLMAO:

I can clearly understand if a UK buyer wants a RHD C8 only
But as we know, GM sends new higher optioned C8s to the UK

UK Corvette lovers did not get stopped buying one for decades that was LHD and continue to do so
If a buyer wanted a lower cost used C8 but let's say one with fewer options, knowing US values for used C8s
of about 13% less per year, I would think UK buyer would go for that even being a LHD version

And with the cost of a used 2023 Z06 at 32% less, bet some over in UK would love that discounted price

Be a shame depending on how our federal election goes in Nov, if that allows GM to can all ICE based Corvette engines
which mean the used C8 prices will skyrocket high and those in the UK did not jump on the discounted C8s now

As we know Corvettes history, as the models it has for a generation that normally the ZR1 is the last model before next gen
and if C9 is EV only, this could be the last chances for UK buyers to grab a used lower costing LHD C8 ICE engine
 

Roscobbc

Moderator
Irrespective of USA buying price of a used C8 (and whether optioned or not) Shipping costs - Car Tax - VAT and required changed to make it UK compliant all group together to make the car perhaps 30% more than when in the USA.......the poor current dollar/pound exhange rate doesn't help either.
 

grg.C65

CCCUK Member
What does everyone think about a USA spec C8 Z06 lhd in the Uk with reference to future value ?? It’s not the same spec as European ones at 646bhp ( + if we get a Uk one 🤷🏻‍♂️ ) with a 0 to 60 at 3.1 secs compared to USA spec at 670 bhp, 0 to 60 2.6 secs. Also USA spec has those stunning centre pipes with an amazing sound track 🇺🇸
 

teamzr1

Supporting vendor
Is the UK bound to use the Europe smog rules ?
Bummer what the added parts of the exhaust system kill off HP and Tq :-(
Does this also then limit what type of 3rd party mufflers could be used ?

I agree the center mount exhaust tips looks nicer and cleaner
 

grg.C65

CCCUK Member
As I understand it if we get a Z06 in the Uk it will have emission restrictions similar to the Uk C8 Stingray. Side exit exhausts.
Apparently at the moment there is only one company in the Uk ( Wortec ) who are doing remaps to get around emission restrictions/ engine warning lights etc
Some current Uk C8 owners have had a deposit down on a Z06 for 3 years now not knowing when and if it’s happening at all.
 

teamzr1

Supporting vendor
The C8 Z06 that’s being sold in North America produces 670 horsepower & 460 lb-ft of torque, or some 34 more horsepower and 21 more lb-ft of torque than the cars that will be sold in the European Union and United Kingdom.

The change in the Z06’s power output is attributed to the differing exhaust systems that are demanded to meet the differing emission regulations in the two regions.

The North American version, of course, features center-exit outlets, while the EU version has corner-exit outlets similar to the Stingray’s to allow room for the use of a gasoline particulate filter or GPF.
These filters are able to capture more than 90 percent of the increased particulate matter created by the direct fuel injection of the Z06’s powerful flat-plane crank internal-combustion V8 engine, as required by EU rules.

The C8 Z06 will cost at least $211,500 in Europe, more than double the price of the 2LT Stingray Coupe that goes for $105,360.
 

grg.C65

CCCUK Member
corvette.aecsv.com is the website for the New European distributor of Corvette in Europe, check out there online brochure, plus there is a 2024 price list to download.
3LZ Coupe €159,655 before options, 3LZ Convertible before options €165,539. Dollar to Euro today is $1.09 !!
 

RobWalker

CCCUK Member
Prices of the mid-engine Corvette continue to plummet so far in 2024, continuing a trend that began in the summer of 2022.

“The good news for you as a value-conscious buyer,” according to Fourwheel Trader, “is that you are no longer buying at the market peak.
The inevitable drop occurred and now is definitely a better moment to buy than last year.”

The depreciation rate for the 2023 Z06 has especially plummeted, he says, noting that prices have dropped 31.6% as premiums above MSRP have evaporated.
It appears that if you were wise enough to buy from a dealer at MSRP, you should be seeing zero depreciation at worst.

Used Stingray prices have been falling at an annual rate of 12.9%, but if you want to save even more and minimize your losses, that you wait for the usual seasonal discounts this winter.

“But if you want a new car, be aware that they are being discounted now and that it can pay off to shop around until you find one below MSRP,” he says.

C8s were seemingly immune to depreciation in the first couple of years of production, but now that Bowling Green is pumping out 50,000 a year, the demand is finally starting to be met and prices are falling.

That’s certainly great news if you want to climb behind the wheel of what many consider the greatest Corvette ever but don’t have bottomless pockets.

I have had a C8 for 6 months, put 6000 miles on her and PX for a new one at £2k less than i paid for it. I paid the RRP for the new one. Thats a fair indication of the UK market
If this had said prices plumet in the USA, that would have been more accurate on here. This is a UK forum. Prices in the UK are pretty stable and showing low depreciation.
USA prices have been way over the RRP and are settling to normal dealership prices - is that 'Plummeting' or stabilising?
Specs for the UK start at 2LT with Z51 as standard.
If you put the specs for a UK car into the C8 USA configurator - $ prices are similar to £ prices.
If you want to import a LHD C8, pay the taxes and have no warranty, you will more than likely pay a higher price for your car - and as has been pointed out on here already, it will be worth less at re sale.
Our market is completely different - and cars are still hard to get. Until the GM distribution debacle is sorted that wont change and we wont really see any market changes for 6 to 12 months IMO for the UK due to availability and demand.
 

Chevrolet

CCCUK Member
As I understand it if we get a Z06 in the Uk it will have emission restrictions similar to the Uk C8 Stingray. Side exit exhausts.
Apparently at the moment there is only one company in the Uk ( Wortec ) who are doing remaps to get around emission restrictions/ engine warning lights etc
Some current Uk C8 owners have had a deposit down on a Z06 for 3 years now not knowing when and if it’s happening at all.
Have you seen the C8 Corvette UK Facebook page set up by Sales at Ian Allan? Some unanswered by IA questions on there from owners re Will/When the Z06 be coming to the UK?/How much? But as we know, there is at least one (yellow) UK spec Z06 here already. It has been featured in the club magazine/attended events. It must have had a "price" presumably?

An ad for a UK spec C8 in March on Ebay, said that IA had lost their dealership with no planned reappointment. Someone I know who has a UK C8 confirms the 1st bit, saying that IA will be honouring the warranty for the C8s they have sold. I note that the brochure/pricelist put up here the other day, only has prices in Euros. Maybe those deposits have or will be refunded?
 
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Roscobbc

Moderator
Have you seen the C8 Corvette UK Facebook page set up by Sales at Ian Allan? Some unanswered by IA questions on there from owners re Will/When the Z06 be coming to the UK?/How much? But as we know, there is at least one (yellow) UK spec Z06 here already. It has been featured in the club magazine/attended events. It must have had a "price" presumably?

An ad for a UK spec C8 in March on Ebay, said that IA had lost their dealership with no planned reappointment. Someone I know who has a UK C8 confirms the 1st bit, saying that IA will be honouring the warranty for the C8s they have sold. I note that the brochure/pricelist put up here the other day, only has prices in Euros. Maybe those deposits have or will be refunded?
Have you seen the C8 Corvette UK Facebook page set up by Sales at Ian Allan? Some unanswered by IA questions on there from owners re Will/When the Z06 be coming to the UK?/How much? But as we know, there is at least one (yellow) UK spec Z06 here already. It has been featured in the club magazine/attended events. It must have had a "price" presumably?

An ad for a UK spec C8 in March on Ebay, said that IA had lost their dealership with no planned reappointment. Someone I know who has a UK C8 confirms the 1st bit, saying that IA will be honouring the warranty for the C8s they have sold. I note that the brochure/pricelist put up here the other day, only has prices in Euros. Maybe those deposits have or will be refunded?
Didn't GM announce some time ago that ALL European GM appointed dealers were to 'lose' their 'distributorships' for Corvette in a "re-alignment of GM's non-USA Corvette specific dealer network" - TBH Ian Allen Motors as an independant dealer (albeit part of the Ian Allen former publisher group) I think have done well to get as far as they have (managing to deal with the frequently 'headless chicken' like GM and their continual changes of direction and mindsets).
How many C8's have they sold so far? 200 or so?
 
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