Good price for 2016 C7 Corvette?

[Confuzed1]

My older brother is contemplating buying a LT2 C7 Corvette. It’s fairly loaded, has targa top, remote start, no Nav though. 6.2 with 455hp and it only has 3K miles!!! He’s sorta committed to getting this since he’s paying to have it shipped from Florida so he can see it (CarMax). They are asking $43,900 for it.....seems like a decent deal to me, but I’ve never dealt with Corvettes. Decent deal or not really?

 

[Slipaway16]

Edit- car in the link sold. Removed.

 

[ChargerChallenger]

Yes seems ok but it’s not a steal. Average trade is 36-38k for this car and he’s buying it a better market than north market. Meaning Corvettes are year round purchased down there not so much up north and this is the Coupe time of year that dealers make their money on.
https://www.kbb.com/chevrolet/corve...alse|6810033|false|6810034|true|7374758|false

 

[ChargerChallenger]

Surprised Slowpoke has not chimed in oh that’s right he’s a slllloooooowwwww ppppppooooookkkkkkeeee @Slowpoke387

 

[Confuzed1]

Yes seems ok but it’s not a steal. Average trade is 36-38k for this car and he’s buying it a better market than north market. Meaning Corvettes are year round purchased down there not so much up north and this is the Coupe time of year that dealers make their money on.

Thanks! Never said it was a steal, but it seems like a decent deal. I told him to offer around 42K even...then my brother tells me they won't deal at Carmax..whatever they ask is all they'll take. I told him I think that only applies to new cars, not used cars.

-I bet they gave the poor guy peanuts for the car when it was traded in...more like on the lower range of the estimate you posted if not lower. Hard to find one with this low of mileage though. I'm guessing it only came out of the garage on the nicest of days.

 

[Confuzed1]

My buddy traded in his 9 second Pro Charged C7. This is a steal.

https://www.sirwalter.com/used/Chev...leigh-nc-cf2792a20a0d0cc771fb374537ab9a7f.htm

He wouldn't buy anything like that! He's not...to be nice..."mechanically inclined" at all. He doesn't even change his own oil that I know of. I did tell him I would ask for a couple grand off, and if they don't go for that, then at least ask them if they could include a two year warranty with the car. Yeah, it won't be a GM warranty, but at least it's something. I don't like the Carmax 90 day or 8K mile warranty at all for a car like this!! And of course, there's no factory warranty left since its a '16....

 

[ChargerChallenger]

Thanks! Never said it was a steal, but it seems like a decent deal. I told him to offer around 42K even...then my brother tells me they won't deal at Carmax..whatever they ask is all they'll take. I told him I think that only applies to new cars, not used cars.

-I bet they gave the poor guy peanuts for the car when it was traded in...more like on the lower range of the estimate you posted if not lower. Hard to find one with this low of mileage though. I'm guessing it only came out of the garage on the nicest of days.

I think for the low mileage its a good move and at the end of the day is a grand or 2 really going to break the bank on negotiation?

 

[Confuzed1]

I think for the low mileage its a good move and at the end of the day is a grand or 2 really going to break the bank on negotiation?

I agree totally! I'd use it to try and get an extended warranty if nothing else. I know they need to make their money too as these "quick flips" the dealers do seem to be at least 5K profit if not more....I assume they'll be a lot of C7's selling this summer...people will be trading in for C8's. But again, I doubt they'll be many C7's with 3K miles being traded...

 

[EricG]

I would continue to look around as I actually think there are plenty of barely used Corvettes for sale, with more coming available with the C8s arriving. Just my opinion of course...

 

[Purerock105]

Sounds reasonable. I know Car Gurus "Great, Fair, or overpriced" deals is set to that particular region. I've seen equal cars selling at vastly different prices based on location.

 

[MiHiHemi]

Thanks! Never said it was a steal, but it seems like a decent deal. I told him to offer around 42K even...then my brother tells me they won't deal at Carmax..whatever they ask is all they'll take. I told him I think that only applies to new cars, not used cars.

-I bet they gave the poor guy peanuts for the car when it was traded in...more like on the lower range of the estimate you posted if not lower. Hard to find one with this low of mileage though. I'm guessing it only came out of the garage on the nicest of days.

Yep, that's Carmax. Take it or leave it pricing. I wouldn't give more than $40K.

 

[Confuzed1]

Just to update:

Turns out my brother just bought a Corvette today! He says its been his "dream car" forever...so I get it. He ended up buying a 2019 1LT with the Z51 Stingray package. Although he did trade in his 2016 Challenger SXT w/45K miles on it too.

At least he got KBB book value on it...he took great care of it and it was in great shape, exterior was perfect still and interior was flawless..he has OCD and takes good care of his cars.

-So in the end, he ended up paying a few grand more for the new Corvette than he was going to spend on the used '16 Vette, and at least since this is a new car so it has the full factory warranty plus he bought an extended warranty with it also for the price.

EDIT: and turns out he didn't get it from Carmax...it was at a normal dealer..

 

[Slowpoke387]

Just to update:

EDIT: and turns out he didn't get it from Carmax...it was at a normal dealer..

Lol this suggests that Carmax is an abnormal dealer

 

[vortecd]

Not even sure if someone paid you to take a vette it would be a good price

 

[coolblue]

I agree with the premise of buying a real creampuff for a few grand more (at this level of car). I mean, 3k! If it's a clean Carfax all down the line, a C7 is a lotta' car for that money, even if you could do better at 7, 12 or 20k miles. But @EricG did make a valid point. A lot will be hitting the market with the new C8 out and good deals will abound. There are 2 questions to ask: How clean/mint of a used 'vette do you want? and How long are you willing to wait?

 

[Confuzed1]

I agree with the premise of buying a real creampuff for a few grand more (at this level of car). I mean, 3k! If it's a clean Carfax all down the line, a C7 is a lotta' car for that money, even if you could do better at 7, 12 or 20k miles. But @EricG did make a valid point. A lot will be hitting the market with the new C8 out and good deals will abound. There are 2 questions to ask: How clean/mint of a used 'vette do you want? and How long are you willing to wait?

He bought a brand new never owned by anyone 2019 Corvette....

I‘m certain they’ll be a lot of people with older low milage ones trading in theirs to get the new C8....

 

[Confuzed1]

Lol this suggests that Carmax is an abnormal dealer

Good point. They're a car dealership that doesn't deal at all. May as well call it a car mall, or a car store IMO.

 

[1971demon]

Just to update:

Turns out my brother just bought a Corvette today! He says its been his "dream car" forever...so I get it. He ended up buying a 2019 1LT with the Z51 Stingray package. Although he did trade in his 2016 Challenger SXT w/45K miles on it too.

At least he got KBB book value on it...he took great care of it and it was in great shape, exterior was perfect still and interior was flawless..he has OCD and takes good care of his cars.

-So in the end, he ended up paying a few grand more for the new Corvette than he was going to spend on the used '16 Vette, and at least since this is a new car so it has the full factory warranty plus he bought an extended warranty with it also for the price.

EDIT: and turns out he didn't get it from Carmax...it was at a normal dealer..

What are these NORMAL dealers you speak of???

 

[1971demon]

I agree with the premise of buying a real creampuff for a few grand more (at this level of car). I mean, 3k! If it's a clean Carfax all down the line, a C7 is a lotta' car for that money, even if you could do better at 7, 12 or 20k miles. But @EricG did make a valid point. A lot will be hitting the market with the new C8 out and good deals will abound. There are 2 questions to ask: How clean/mint of a used 'vette do you want? and How long are you willing to wait?

Don't look for that huge glut of used vettes...there aren't going to be many C8's out there this summer