wizee

While the low resale value (compared to Porsche) is bad for those buying new, I suppose it’s good for those buying used. If the 718 GT4/Spyder end up being too expensive, I’ll buy a used 2021 C8 Corvette in 2022, probably for half the cost of a new or used 718 GT4/Spyder while offering greater performance. I’ll wait for a used 2021 model because I expect the first year of production to have issues, given my past experience with Chevy reliability.

GoKart Mozart

True, which is why I wrote that I would only ever consider a used one for track duty.

Just know that they continue to drop a lot beyond the first 1-2 years. I don't want to make any false claims here, as I have not studied the used Vette market in a long time, but I remember a while back that a 3-5 year old C6 could be had for crazy low prices. So while it will save you money upfront buying a Vette (new or used), it will most likely still depreciate more than a 911 or GT Porsche, unless you buy one that is older than ~4 years.

Dalema

sounds like I should buy an old vette (is that like saying p-car? - ha) in a few years, just in time for my mid life crisis

is the redneck stigma only if you live on one of the coasts - that would mean I would have to move too

GoKart Mozart

LOL, yes, definitely leave the Bay Area if you get a Vette. You can move to the Sirra Foothills like I did. It's probably more acceptable than a Porsche here. A lot of these farm boys give me dirty looks when I pull up in the local gas station.

No seriously. I know it is petty or whatever else you want to call it, to stereotype the Vette's image of ownership, but I know I am not alone thinking it, I just came out and said it.

Pcar81

no doubt about it
it has that mid-life-crisis stigma among other things
Not sure when or why that started
Are these the types of buyers? I don’t think so.

but it is a fantastic sports car at a bargain price
definitely a car to consider for those growing tired of all the P dealer games

gthal

I agree there is a stigma... but there is one for Porsche owners too. To be honest, I don't care what someone thinks of me when I drive the GT4 or the Corvette whether it's good or bad. I care about how much I'm enjoying what I'm driving and how fast I'm driving it!

sigar

Exactly. Drive a Porsche you look like a ***** attorney. Drive a vette you look middle class going through a mid-life crisis. I am neither and yet I drive both Porsches and Vettes. Life is too short to care what others think about you. Have fun.

NoGaBiker

My insistence on it being a Porsche dates to my pre-teen and highschool years in the late-70s and early-80s, when I was developing a thirst for international Motorsports from the pages of R&T mostly. Porsche 934s, 5s, and 6s and then 951/62s were so dominant over that period, and 911s/Turbos seemed to be the only street cars that kept getting faster during the malaise era that I developed an admiration for them that persists to this day. I've admitted to myself that I'd rather have a great Porsche than an even better XX.

Anyone remember the 2-valve injected 308 GTBi? HP down considerably from the previous model. 12-cylinder Ferraris dropped completely from the US market. It felt like Porsche were the only ones keeping the flame alive. (Although to be fair, losing the Turbo from our shores for five years absolutely sucked.)

fast1

I understand the way you feel, but in my case I couldn't care less what others think about the car I drive. Now if someone is willing to kick in a few thousand toward the purchase of my next car, I'll take their views into consideration. OTOH if you don't like the Vette's image, take off its badges and I expect 99% of the people will have no idea what you are driving. I have a friend who has a 2018 black Z06 and it is one mean looking car, and it has a menacing exhaust sound when driven in anger.

As far as current discounts on the C7, everyone is waiting for the mid-engined C8. So sales of the C7 were bound to suffer. It's hard to accurately determine depreciation on the C7 because they have been significantly discounted for several years. Kerbeck for example has been offering $13K discounts on Z06s for the last couple of years. And that's just the beginning, since there are other discounts which someone may qualify for which could easily add another couple K from MSRP. I have a friend for example who bought a 650 HP/650 lb-ft torque Z06 last summer for a little over $70K, which puts it in the range of a nicely equipped base 718 Boxster. He told me that he was able to do a 0-60 in 3 secs and a 1/4 in 11 secs at a local drag strip.

GoKart Mozart

I don't care what others think either, or I wouldn't be driving a GT4 in the town I live in, because most of them probably think I am a drug dealer. But at least in a Porsche I don't feel like I am a douche, just a *****, which I can live with all kidding aside, I just stated the obvious and what everyone think about Corvette drivers. None of you disagreed with it, just that it doesn't bother you.

Anyway, the main issue for me is the depreciation I mentioned. I hate that they make so many and then discount them as much as they do. I work too hard for my money, to watch my car lose half of it's value in a matter of a few years. If I was struggling to afford a car of this caliber, then maybe a used Vette would be the ticket, or like I said earlier, for a track toy, but for what I use it for, a new Vette would cost me more than the GT4 does. I was a Bimmer guy not too long ago, and I didn't get a new M3/M4 for the same reason, they don't hold their value as well as certain Porsches do. It's not the only criteria that matters, but it's up there.

wizee

I certainly hear you on the relatively low depreciation rate of Porsche making the cars more affordable. In general, my calculation for affordability looks at depreciation + loss of alternate investment income rather than upfront price. The reason I’m considering a new 718 Spyder despite it being a bit beyond my means is the low expected depreciation (not talking about going into debt, but rather the ratio of car price to my income being higher than it really should).

I made the mistake of buying a new BMW M240i xDrive last year (at the insistence of my mother... don’t know why I listened to her). It’s a great car (compact, fast, comfortable, amazing amount of interior space despite its dimensions), but I would have been much better off purchasing a 2 or 3 year old M235i. I paid $58k CAD last year ($62k MSRP, fully loaded). Today, it has a trade in value around $40k CAD. That’s a horrible hit.

I expect the annual depreciation dollar amount of a new 718 Spyder to be less than my BMW despite an expected sale price being more than double my BMW. I’ll probably trade in my BMW for a 718 Spyder, and can justify it though man-maths (“it won’t deprecate any more than my BMW...”)

In reality, if a $50k car depreciates $10k/year, and a $100k car depreciates $8k/year, you’re still better off financially with the $50k car because the remaining $50k could be invested to earn $2.5-$3k at a typical 5% or 6% fund rate.

Still, I’m justifying the 718 Spyder dream with the rationale that it shouldn’t actually cost me any more than my first year of BMW ownership.

PCarOMFS

Just as a data point regarding pricing and cost of a Corvette vs Cayman, I traded my 2016 GT4 ($97k msrp) in for a 2019 Z06 (msrp $93k). I was given 10% off for the ZO6 without even asking for it and the trade value on the GT4 was $82k. So I owed no sales tax and spent very little money for a car that is three years younger and out-of-box 6 seconds faster around Watkins Glen in my hands. Both great cars and I love them both but I have to say I prefer the ZO6.

GoKart Mozart

The Z06 is fast, that is for sure. 6 seconds a lap is a whole other world. I have seen the same thing at my "home track" where a Z06 in the right hands was lapping me. I never argued the performance of it, but it will cost you in a couple of years, if/when you trade it in. Chances are your GT4 would have only gone down marginally, whereas I'm guessing the Z06 will lose $20-30k in value pretty fast, but maybe it's worth it, considering the speed difference?

How does the interior and overall quality feel coming out of a Porsche? Are you having any issues at the limit with the rear stepping out? Seems like quite a few drivers were calling it a widow maker. Just as the CEO of Chevy ;-)

kfmcmahon

Mike, what times are you running in the Z06 at WGI?
PB in my GT4 was 2:04.65

PCarOMFS

Considering the cost of maintenance for Porsche and the fact my warranty was going to expire shortly are two big long-term ownership issues I had with keeping the GT4. It’s simply less expensive to own a Corvette, even out of warranty. I’ll likely keep it as a track car long term. It’s all relative and subjective, and I don’t regret my decision at all. I agree that trying to compare lap times between a GT4 and ZO6 isn’t exactly fair because the ZO6 has far more power.

In terms of handling, I took my car to TPC Racing and had them do a track alignment. According to Mike Levitas, the critical alignment spec is the rear caster. A special tool is required to measure it and most shops don’t have it or use it. My ZO6 handles very well for a heavy car and I feel it’s very predictable, especially with warm fresh tires.