Depreciation and Resale Value?
02-08-19, 04:57 PM
#91
I said it before and I‘ll say it again. Used LC500 prices keep dropping. On Cargurus, 61 of 90 preowned LC500‘s are now priced under $80k. One is priced under $70k, although it has a (minor?) accident history.
Last edited by ECL; 02-09-19 at 06:38 AM.
02-09-19, 06:28 PM
#92
Pole Position
All cars take a 30% depreciation hit in their first years it's no surprise. The LC500 will bottom out and hold steadfast and then begin to go up in value.
02-10-19, 02:41 AM
#93
Pole Position
Exactly my thoughts also. Time will tell, especially if they decide to drop the model earlier than anticipated due to sluggish sales.
Last edited by SuperGT; 02-11-19 at 06:45 PM.
03-24-19, 02:54 PM
#94
At this point, does anyone see the LC500 dropping into the $65k-ish price range at dealerships? There are a few listed at $73/74 range, but I don't know if dealerships negotiate much or how motivated they are to move these cars off the lots.
03-25-19, 05:35 PM
#96
Driver School Candidate
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03-25-19, 07:00 PM
#97
Driver School Candidate
i've been shopping nationally lately and lots of dealers will offer about 92k without prodding, including the 5k incentive that is about to expire (but probably will be renewed). HAS ANYONE ACTUALLY BOUGHT ONE THIS MONTH? WHAT DID YOU PAY?
thanks
thanks
03-25-19, 08:06 PM
#98
At least here, the $5000 incentive is on the 2019 models. The 2018’s, of which there are still plenty, have $7000 on the hood.
03-25-19, 11:23 PM
#99
Sold my Corvette Grand Sport last week and I'm picking up a fully optioned CPO on Wednesday. 3K miles, $80K. I'm not expecting it to be the performance car the Corvette is, but the quality, daily livability and reliability will far surpass it. I got tired of waiting for the mid-engine Corvette and based on the wrapped camo cars, it doesn't look like a spectacular design. You never know, though. Regardless, I don't think I want a first year GM product. I'll enjoy the LC500 for a few years instead.
Based on the low production numbers, this car may be a bit of a unicorn in the long run. I think it may hold it's value better than some other similar rivals. I've only seen two on the road since the car was released.
Based on the low production numbers, this car may be a bit of a unicorn in the long run. I think it may hold it's value better than some other similar rivals. I've only seen two on the road since the car was released.
03-26-19, 08:00 AM
#100
Sold my Corvette Grand Sport last week and I'm picking up a fully optioned CPO on Wednesday. 3K miles, $80K. I'm not expecting it to be the performance car the Corvette is, but the quality, daily livability and reliability will far surpass it. I got tired of waiting for the mid-engine Corvette and based on the wrapped camo cars, it doesn't look like a spectacular design. You never know, though. Regardless, I don't think I want a first year GM product. I'll enjoy the LC500 for a few years instead.
Based on the low production numbers, this car may be a bit of a unicorn in the long run. I think it may hold it's value better than some other similar rivals. I've only seen two on the road since the car was released.
Based on the low production numbers, this car may be a bit of a unicorn in the long run. I think it may hold it's value better than some other similar rivals. I've only seen two on the road since the car was released.
There are several things going for the LC's longer term value, including exclusivity. Also I believe the styling and artistry will keep it a stand out.
Only thing is that future buyers will be even more limited than the Vette to moneyed older men. Fewer pining older men than what keeps the Corvette alive.
03-26-19, 09:34 AM
#101
Sold the GS privately for $62K. Paid $66K for it (original sticker was $76K) two years ago so I was pleased, especially considering the incentives offered by GM right now for brand new ones. I'm not buying the LC500 for an investment so depreciation is expected, but I don't think it's going to be as drastic as some might think.
Sounds like you did very well on your deal! How do you like the LC500 compared to the Vette?
Sounds like you did very well on your deal! How do you like the LC500 compared to the Vette?
03-26-19, 10:03 AM
#102
Sold the GS privately for $62K. Paid $66K for it (original sticker was $76K) two years ago so I was pleased, especially considering the incentives offered by GM right now for brand new ones. I'm not buying the LC500 for an investment so depreciation is expected, but I don't think it's going to be as drastic as some might think.
Sounds like you did very well on your deal! How do you like the LC500 compared to the Vette?
Sounds like you did very well on your deal! How do you like the LC500 compared to the Vette?
Unique, as so many Vettes cruise around here. Gotta be different!
03-26-19, 10:38 AM
#103
You see a Vette every five minutes here in Las Vegas. You never see the LC500. I'm definitely looking forward to it although I always seem to comeback to the Corvette. Flying down to Phoenix tomorrow to pick it up. Should be a nice drive home.
03-26-19, 11:56 AM
#104