Are C8 Corvette Prices Finally Becoming Reasonable?
The C8 Chevrolet Corvette is an amazing car. It has breathtaking acceleration and nearly unbelievable handling characteristics thanks to its mid-engine layout and no-holds-barred engineering. Thanks to these traits and a handful of outside influences on production numbers, C8 Corvettes were selling for over double the MSRP on the used market in some cases. It looks like things are finally leveling out, though, and C8 Corvette prices are starting to get reasonable.
How much is a used C8 Corvette?
It’s effectively a daily routine of mine at this point to check recently-ended auctions on Cars and Bids. Today, I came across this 2022 Chevrolet Corvette coupe in one of my favorite colors: Accelerate Yellow Metallic. What I was excited about more than anything, though, was the price.
The final bid landed at $65,500. More important, though, is the fact that the auction page said “sold” rather than “bid to.” That means any reserves were met, and this C8 actually sold for this price! Let’s take a look at what the price of a new equivalent would be right now.
The Corvette in question is a 2LT trim example with the Z51 performance package. Let’s not forget that awesome yellow paint, either. That costs an extra $500 new from Chevrolet. For an equivalent 2023 model, you’re looking at an MSRP of $80,040.
That’s right, folks. The time has finally come. C8 Corvette prices on the used market have dropped below MSRP. I feel like clapping, crying, and throwing a party for this momentous occasion.
Will the C8 Corvette hold its value?
If you’re considering purchasing a C8 Corvette as a long-term investment, keep two things in mind. One, that’s stupid, and you should buy a car to enjoy it, not let it sit. Two, the Z06 is out, the E-Ray is out, and another performance model (likely ZR1) is on its way. Right now, the Z06 is the fascination of the overpriced “I want it right now” Corvette market.
I predict that standard Stingray C8 Corvette prices will continue to see a slow and steady decline in value to a certain extent. Within the next handful of months, we’ll likely see more and more selling for around the $65,000 mark with mid-level trim and options like the one above.
I’d love to see them come down into the $50,000 range, but I don’t anticipate that happening anytime soon. We’re only just now beginning to see C7 base models drop to around $40,000, and they’re approaching 10 years old.
Overall, though, if a mid-$60,000 price range is within your budget, you’re now in the same market as a decent-spec C8 Corvette. Get one while you can!