Photo Credit: Chevrolet
Prior to the arrival of the C8 Corvette, I would have told you that there is no reason to pay more than sticker for a new Corvette as there are plenty of dealers, including most of the top volume sellers, who will gladly sell you a new Corvettes at MSRP. We figured that initial demand would be high during the roll-out and then pricing would fall back to normal by the end of the first model year production.
But interest in the first-ever mid-engine Corvette exploded following the reveal and buyers responded by selling out the first year production of the car even before the first customer-ordered model was produced. Then came the UAW strike in late 2019 followed by the COVID pandemic in March of 2020 which closed the plant for two full months and delayed launching the 2nd shift until August 2020.
Those two events cut initial projections for a 40K unit model run and even after extending the model year for several months, Chevrolet built just half that number. Demand was even stronger now as supply fell dramatically, and for many buyers, the only opportunity to purchase a C8 Corvette would come on the secondary market where prices ranged from $5,000-$20,000 over MSRP.
We’ve written on this phenomenon a couple of times, including our “Five reasons to pay more than MSRP for a new Corvette” which was factual in its content, yet widely panned by the “Corvette Pricing Mob” who is quick to call anyone an idiot or a moron for paying more than sticker for their new Corvette. Seriously, just read the comments on that page.
Last week, we offered a sort of a follow up to that with a YouTuber named Fourwheel Trader who broke down C8 Corvette pricing utilizing real-world data and he found that you could essentially buy a new Corvette, enjoy it for up to 10,000 miles, and then sell it for a profit. Pretty remarkable considering the Corvette is a mass-produced American sports car that will soon be starting its third year of production with demand still as high as ever.
That I have to explain all this before getting to the gist of this article is also telling, and the comments I am sure will reflect what we are about to share. This post below comes from the C8 Corvette Facebook Group from Steven Settingsgaard and it really hit home with us. He calls it a “Short Story of Bob vs the Mob:”
Spring of 2020: Bob wants a C8 Coupe but doesn’t want to wait so he gladly pays $20K over sticker.
The Angry Price Mob feels they are too entitled to wait and too smart to pay over MSRP so they lash out. “You idiot, in a year that car will be worth $40K less than you paid. Only a moron doesn’t wait, these prices will crash like all Corvettes do.”
Spring of 2021: Bob has now enjoyed his C8 for a full year but he decides he would like an HTC. He sells his “used” coupe for what he paid for it, $20K over sticker.
The Angry Price Mob is still waiting but still too smart to overpay so they lash out at Bob once again, this time it’s for selling. “That’s price gouging!” “You don’t love Corvettes as much as I do, I would never sell for just money!”
Bob ignores the mob again and immediately buys an HTC for $20K over sticker and at the same time puts a deposit down on a Z06.
The Angry Mob: “What a complete moron you are, I can’t wait to see what you have to say a year from now when you’ve lost your ass on that HTC! I will wait a year and buy that car off you for $40K less than you paid for it!”
Spring of 2022: Bob’s Z06 comes in so Bob sells his HTC for $10K over original sticker and has enjoyed the 2 C8s now for 2 full years. His total depreciation for the period is $10K.
The Angry Price Mob is still waiting, still entitled, and still too smart to “overpay.” So they lash out at Bob again. “You want $10K over sticker for a used car, now that they are “everywhere? Greedy price gouger!”
Bob: Drove C8s for two full years and now in 2022 is driving his Z06 and suffered almost no loss for it.
The Angry Price Mob: Still too entitled and too impatient to order a car; still too smart to overpay; still has never owned a C8; still hurling insults and trolling ads; still too blind or too stubborn to see they’ve been wrong all this time.
Moral: Be more like Bob. At least stand quietly on the sidelines and recognize when you’ve been proven wrong.
Just think of all the things we as Americans buy over the list price because it brings us immediate satisfaction. Before COVID, you might have paid more to get good seats for a sporting event or to attend the big concert in town that was sold out. Even little things will have us spending more than lower priced items if it means that we can get it delivered quicker. You can thank Amazon’s two-day Prime shipping for that. Look at the housing market right now where new houses are selling well over listing price. The point is that Americans have the highest level of disposable income and spending that on the things we love and want is about the most American thing ever. So don’t let the online Corvette Pricing Mob beat you down when it comes to buying America’s favorite sports car. They will still be waiting and complaining while you’re out there driving the American dream!
Source:
C8 Corvette Facebook Group
Related:
Five Reasons Why You Should Buy a Pre-Owned C8 Corvette Now, Even If It Means Paying More Than MSRP
[VIDEO] C8 Corvette Market Update and Depreciation Analysis
The Chevrolet Corvette Was the Fastest-Selling Car During the Month of April 2021