In more of what no one really asked for, GM announced they’re gonna make a hybrid Corvette that could arrive as early as next year. And a fully electric version sometime after that. But don’t worry. With post covid delays & shortages & whatnot, nothing comes on time anymore lol. So I guess for the first time in over 2 years, we can actually thank Covid… because the silver lining to this pandemic is that it might delay GM from disgracing the Corvette badge for a little while longer lol. If there was ever a car I wish dealers would absurdly mark-up & no one would buy… this would be it.
But on a serious note…
You should never fully listen to my financial advice because it comes from a place of passion rather than ya know, economics. But there is now, more than ever, a solid argument for stretching to buy/finance a manual transmission C7 Corvette. Hear me out…
The Corvette as we’ve always known it, is evolving… perhaps dying. And if it dies, it’s GM that killed it. Corvette enthusiasts are not asking for a hybrid or EV Corvette. But it seems that GM’s doing it regardless, to compete with other now-hybrid sports cars out there that we also didn’t really ask for. And to keep up with their promise to be all-EV by 2035… which we also never asked for.
Therefore…
If you lust to own a pure, manual transmission, fire-breathing, lower maintenance, RWD American sports car… the days of walking into a dealership & financing one are numbered. And that window to break it down into manageable monthly payments – is closing. When the C7s age-out of easy financing, it’s over, unless it’s a cash deal somewhere down the road.
And regardless of whether or not the public ends up embracing an electric Vette, these C5/6/7s are seemingly destined to be end of an era Corvettes. For that reason, I don’t see the values ever dipping down much on a manual C7. In other words, the depreciation curve is gonna stay shallow, until nostalgia kicks in & spikes it (probably a lot sooner than normal). So while I usually wouldn’t recommend stretching out payments on a 5-year-old car. Maybe just maybe in this case, it could make sense with the right rates. Especially if you look at it as not so much of a ‘car payment‘… but more of an investment into owning one of the last true unplugged American sports cars.
Check out this recent article on our Yellow C5 Z06.
