It’s Still Cheaper To Buy A New C8 Corvette However

GM locked down the C8 Corvette's ECU, and now the aftermarket appears to be left out of the automaker's future.
Image Via GM.

As production nears for the 2023 Corvette Z06 and two full model years of production under its belt, prices of used C8 Corvette Stingrays are on the decline. Market research from iSeeCars tells us that the used C8 Corvette market may be cooling although not by much. Buying a used C8 Corvette could still cost you more than a new one. In addition, determining whether this decline is temporary or not remains a challenge however the most recent study reveals a steady and consistent decline in prices over a short period of time.

GM locked down the C8 Corvette's ECU, and now the aftermarket appears to be left out of the automaker's future.
Image Via GM.

The research from iSeeCars analyzed asking prices for both new and used vehicles, which included the C8 Corvette Stingray, since January of this year with an updated study taking place last month. That study revealed the downward trend in price for the used C8 Corvette market. In their previous study which looked at sales in January of this year, they found that used C8 Corvettes were priced higher than new models by an average of $16,645 (20.2%).

Top 15 Used Cars More Expensive than New – iSeeCars
Rank (By Percentage)Model% Used Price More than New$ Used Price More than New
1Mercedes Benz G-Class21.5%$40,958
2Chevrolet Corvette16.4%$13,594
3Chevrolet Trailblazer14.4%$3,856
4Toyota RAV4 Hybrid13.5%$5,002
5Porsche Taycan11.2%$14,009
6Chevrolet Suburban11.2%$7,881
7Hyundai Accent10.3%$1,886
8GMC Yukon10.0%$7,233
9Kia Rio9.7%$1,824
10Toyota Tacoma9.3%$3,405
11Kia Seltos9.2%$2,441
12Toyota Sienna8.9%$4,065
13Toyota Corolla Hybrid8.0%$2,138
14Ford Mustang Mach-E8.0%$4,292
15Toyota Prius Prime7.9%$2,508
Overall Average-1.0%-$454

The more recent April study revealed the C8 Corvettes were priced only $13,594 (16.4%) above new models on average. That’s a decline of just over $3,000. The study analyzed asking prices from over 1.5 million new and used cars sold in April and revealed the average 1-5 year old used vehicle costs just 1.0 percent less than its new version on average. Executive Analyst for iSeeCars Karl Brauer mentioned that if you compare prices of used cars prior to the microchip shortage the average used car was 17% less than its new iteration, showing us the used vehicle market is still quite inflated.

Photo via Chevrolet

Written by Cody U.

Cody is a Tennessee-based media professional with a degree in Journalism and Electronic Media. He has spent time as a country radio morning show producer and currently writes for MC&T as an outlet to geek out over cool cars, trucks, and utility vehicles.

Originally from California Cody has an appreciation for all-electric vehicles but a soft spot for the rumble of an all-American V8 muscle car. His dream car remains a 2007 Ford Mustang Bullitt. His fascination with all things cars stems from countless trips to car shows and watching car movies, of course.

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