When car shoppers think of cars based on value, they probably think of economy cars or investments like classic cars. However, CarEdge says that you should think differently if you want top bang for your buck. For instance, the top vehicle on their list of the best cars by value is the plastic fantastic itself, the Chevrolet Corvette. Read why CarEdge would consider a sports car turned supercar like the Corvette Stingray Z51 and C8 Z06 for the number one spot on their value list.
Why is the Chevrolet Corvette at the top of the best cars by value list?
The Chevrolet Corvette has a deep-rooted history of competing with cars that cost a lot more money. It is a collection of some of the best performance bargains available, depending on the generation and trim. For instance, the C7 Stingray Z51 can hit 60 mph in 3.8 seconds, which is as fast as an Aston Martin V12 Vantage S from the same period.
Moreover, the latest generation, the C8 Corvette, is the first production mid-engine iteration in the model’s history. The C8 Corvette Stingray Z51 is supercar quick, with a 0-60 mph time of under 3.0 seconds, and the flat-plane crank V8-powered C8 Z06 is even faster. As a result, the Corvette’s value as a performance car almost outweighs its value in terms of investment and depreciation.
Are Corvettes good investments?
According to CarEdge, the Corvette is one of the best investments among popular cars, trucks, and SUVs. A newer Corvette has an average depreciation rate of around 33%, putting it well ahead of a comparable Nissan GT-R, which has a depreciation rate of about 41%, says CarEdge.
Moreover, many C8-generation cars hold value exceptionally well, with some used examples selling for much higher amounts than Chevrolet’s MSRP for the model.
Are Corvettes expensive to maintain?
The Chevrolet Corvette’s maintenance expenses are the smallest part of the five-year ownership costs. CarEdge says a newer Chevrolet Corvette’s maintenance costs account for around 4% of the average five-year cost-to-own of about $56,015.
Moreover, RepairPal says a 2023 Chevrolet Corvette has an average annual maintenance cost of about $737, which is above the industry average. Of course, the Corvette is a performance car, not a sensible sedan like a Toyota Avalon or Ford Fusion.
Are Corvettes fuel efficient?
The Chevrolet Corvette doesn’t typically register in a conversation about fuel efficiency. However, with cylinder deactivation and a trim-dependent fighting weight of around 3,647 lbs, a C8 Corvette is much more efficient than other V8-powered vehicles. Specifically, the mid-engine Stingray gets about 16 mpg city and 24 highway.
While that might not seem like substantial figures, it’s 1.0 mpg more than a comparable Ford Mustang GT while producing as much as 45 additional horsepower from a larger-displacement V8.
Which Corvette model is the best car in its lineup?
Despite the Corvette’s status as one of the best cars by value, not every iteration is created equal. The best Corvette model depends on what you want out of your Kentucky performance car. For instance, the C8 Z06 is the best if you want tire-roasting performance. However, if you want the most bang for your buck, a C8 Corvette like the a Stingray Z51 is the one of the most affordable options.