Now that the Corvette C8 is introduced, it might be the perfect moment to buy a Corvette C7. In this video, I will therefore provide buying advice for a C7 and show you where the C7 is on its depreciation curve.
The analysis is divided into a few steps. In the first step, we will explore the market and find out what the average price points are for the different trim levels such as 1LT, 2LT and 3LT. Also, we will see the difference in price between cars with the Z51 package and cars which don’t have this package. The same comparison is made for manual and automatic cars.
In the second step, I will show you how much the C7 is still depreciating and what the expected values are one from now. This will be followed by the third step in which we find out the depreciation per 1000 miles.
In step four we will tie everything together and consider both the depreciation per year and depreciation per 1000 miles driven. Based on a machine learning algorithm, I will show you what a fair purchasing price is.
All of the above is wrapped together in the conclusion, which is step number 5.
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