Photo credit: Chevrolet
Before the C8 Corvette arrived, I would have told you that there is no reason to pay more than a sticker for a new Corvette as there are plenty of dealerships, including most of the top sellers, who will be happy to sell you a new Corvette at MSRP . We assumed that initial demand would be high during the rollout and prices would be back to normal by the end of production in the first model year.
However, interest in the first mid-engined Corvette exploded after the reveal, and buyers responded by selling out production of the car for the first year, even before the first customer-ordered model was produced. Then came the UAW strike at the end of 2019, followed by the COVID pandemic in March 2020, which closed the plant for two full months and delayed the start of the second shift until August 2020.
Those two events cut the initial projections for a 40,000-unit model run, and even after extending the model year by several months, Chevrolet only built half that number. Demand was now even stronger as supply fell dramatically and for many buyers the only option to purchase a C8 Corvette was in the secondary market, where prices were between $ 5,000 and $ 20,000 above MSRP.
We’ve written about this phenomenon a couple of times, including our “Five Reasons to Pay More Than MSRP for a New Corvette,” which was factual but widespread by the “Corvette Pricing Mob” quick calling a Idiot or an idiot who paid more than a sticker for their new Corvette. Seriously, just read the comments on this page.
Last week we offered some sort of follow-up with a YouTuber named Fourwheel Trader who broken down C8 Corvette prices using real world data and found that you can essentially buy a new Corvette and enjoy it for up to 10,000 miles . and then sell it for a profit. Quite remarkable when you consider that the Corvette is a mass-produced American sports car that will soon begin its third year of production with still high demand.
That I have to explain all of this before I get to the gist of this article is also significant, and the comments I’m sure of will reflect what we’re about to share. This post below is from Steven Settingsgaard’s C8 Corvette Facebook Group and we were very impressed. He calls it a “Short Story of Bob Versus the Mob”:
Spring 2020: Bob wants a C8 coupe but doesn’t want to wait and is happy to pay $ 20,000 for stickers.
The Angry Price Mob feels they are too legitimate to wait and too smart to pay above MSRP. “You idiot, in a year this car will be worth $ 40,000 less than you paid for. Just an idiot don’t wait, these prices will crash like all Corvettes. ”
Spring 2021: Bob has been enjoying his C8 for a whole year, but opts for an HTC. He sells his “used” coupe for what he paid for it, $ 20,000 above the sticker.
The Angry Price Mob is still waiting but is still too smart to pay too much, so they beat up Bob again, this time for sale. “This is a price cut!” “You don’t love Corvettes as much as I do, I would never sell for money!”
Bob ignores the mob again and immediately buys an HTC for $ 20,000 above the sticker while making a deposit on a Z06.
The Angry Mob: “What an idiot you are, I can’t wait to see what you have to say in a year when you lost your ass on this HTC! I’ll wait a year and buy you the car for $ 40,000 less than you paid for it! ”
Spring 2022: Bob’s Z06 is coming in, so Bob is selling his HTC for $ 10,000 on the original sticker and has been enjoying the 2 C8 for 2 years now. Its total depreciation for the period is $ 10,000.
The Angry Price Mob is still waiting, still legitimate, and still too smart to “overpay”. So they hit Bob again. “Want $ 10,000 in decals for a used car now that they are” everywhere “? Greedy price gouger! ”
Bob: Driven the C8 for two years and now drives his Z06 in 2022 and has suffered almost no loss for it.
The Angry Price Mob: Still too legitimate and too impatient to order a car; still too smart to pay too much; has never owned a C8; still hurling insults and trolling advertisements; still too blind or stubborn to see they were wrong all along.
Morality: Be more like Bob. At least stand quietly on the sidelines and see when you’ve proven yourself wrong.
Just think of all the things we as Americans buy above list price because it makes us happy right away. Before COVID, you may have paid more to get good seats for a sporting event or to attend the big concert in town that was sold out. Even small things will result in us spending more than cheaper items if that means we can deliver them faster. You can thank Amazon for the two-day Prime Shipping. Now take a look at the real estate market where new homes are selling well above list price. The point is that Americans have the highest disposable income, and that spending on the things we love and want is the most American thing ever. So don’t let the online Corvette pricing mob beat you up when buying America’s favorite sports cars. You will still be waiting and complaining while you make the American Dream come true!
C8 Corvette Facebook group
Five reasons you should buy a used C8 Corvette now, even if it means you will have to pay more than MSRP
[VIDEO] C8 Corvette Market Update and Depreciation Analysis
The Chevrolet Corvette was the fastest-selling car in April 2021