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I agree, but why? I cannot quite put my finger on it. Lack of passion? Followers? What is it?
For the most part, when you buy a Cadillac, your just getting GM's corporate mechanicals. Their client base died out and brand simply went out of style.
I like the basic styling, but all the tack-on details really make it look like it was designed by committee, where every single person wanted to add their own bits and bobs... Perhaps most apparent on the rear.
That said, I'm betting the performance will be pretty spectacular, particularly for the price. Might just have to throw down a few $1K deposits for an at MSRP purchase and buy a low option car and try one for myself. Evidently production volumes are going to be pretty huge.
I agree and those are the same reasons I prefer a Porsche over a Vette. So to answer your question, if it (name/quality/handling) is worth another $40k?...... probably not, if you look at pure purchasing cost, which is why I said, don't let the lower MSRP fool you. In the end the delta of owning a GT4 versus a Vette is far lower, and at that point it is worth it 100%
No, I can't disagree that the purchase price is to be considered, and you are probably close with your calculations on cost of ownership. The only thing I would disagree with, or not bank on, is the 7% return ROI. I'm no expert in that field, but my guess is that for a 7% return I would have to take some risk, which also could net a loss. A CD, or any other secure investment, will no doubt give a lower ROI. At any rate, all things considered, the Vette will likely cost a bit less to own over a few years, but nowhere near what the purchase price would suggest, which was my point (see first reply in this post).
And while I also agree that Porsche charges exorbitant amounts for options, the price on a Vette will shoot up significantly if you click all the boxes.
Just a quick real world example. A friend of mine bought a C7 Grand Sport 2 years ago. He paid around $75k for it. Today he'd probably get Low $50's for it if he had to sell, and in another 1-2 years I'm guessing his car might be worth $45k, making it about $30k depreciation in 3-4 years. At that age point, which is where I bought my GT4, the going rate was about $10k under MSRP, which is $20k less depreciation than the Vette. That is a lot, no mater how you slice it.
The average annual return since adopting 500 stocks into the S&P index in 1957 through 2018 is roughly 8%. To be conservative, I used 7%. Of course markets go up and down, so I agree that if you needed the money in the short term, there is risk but for the long term it's relatively safe. The best I can get on a CD is 3% for a two year term, which barely keeps up with cost of living increases.
The 981 GT4 did retain its value quite well, but let's not forget that most buyers paid a significant ADM. Corvettes OTOH are discounted quite heavily after the first year on any model. My brother for example got his 2018 Z06 for $10K under MSRP from Kerbeck, and the Z06 is a low production model. But we can exchange anecdotal information all day long to support our position, so let's instead look to another source for costs of ownership: banks. Banks are fairly competent in assessing depreciation when establishing lease rates.
I checked a couple of sites and the typical price I see for a base 911 coupe is $1,299 per month for 36 months with $9,919 due at signing or well over $58,000 when leasing fees are included. The 2019 Corvette 1LT lease payments are $599 for 36 months with $5,789 due at signing or approximately $29,000 when including leasing fees. The only info I could find for a 981 GT4 lease was from a Rennlist poster: 36 month with 10K down, $1443.36 a month. All of the leases were for 10K miles / year. The GT4 lease included taxes which the others didn't.
Lease rates are determined by vehicle cost, depreciation, money factor, and annual mileage. So apparently banks don't share your optimistic view regarding Porsche depreciation when the car is used enough to accumulate 10K miles / year. So although Porsches retain their value much better than Corvettes, it's not nearly enough to offset the substantial difference in price between the two cars.
I'm not a Corvette buyer and this one probably won't change that, but man this thing looks so much better than I had expected. Looks way better than the 720S IMHO. Can't wait to see what people do with this. With some wheels and visual mods this thing could look amazing. And thankfully they no longer offer chrome wheels.
Agreed that the new Corvette looks better than the McLaren!
Wonder if a guy 6’3” and taller will fit? I’ve met guys that are 6’3” and some fit and some do not. I am 6’5” and can’t get into a C7 Vette....also Ferrari 458 and 488 I can’t fit into...not enough leg room...plus having a left leg that is a full prosthetic leg doesn’t help as it doesn’t bend like a human leg.
The rear end is a bit busy and not my favorite part, but I really think one thing that kills the look is the ugly wheels that have a bad offset and lots of gap between the tire and wheel well. Those are easy things to fix though, and I think will really make the car look a lot better.
I love my GT3RS, but I am going to seriously consider adding one of these as well. Not in the first year though. I expect lots of bugs with such a big change, plus I’d rather have a Z car, so I will wait until year 2-3 and then test drive one.
Agreed that the new Corvette looks better than the McLaren!
I don’t think the average McLaren buyer gives a rats *** about comparing the looks of a 300k car vs a 60k car.
this thing looks great for what it is but it ain’t no Ferrari, it ain’t no Porsche and certainly ain’t no Mclaren.
People arent cross shopping those cars with this. You have two types of corvette buyers- those that are comfortable spending the 60k and not much more and those that can afford to buy anything they want and do own a bunch of cars but are thinking of adding the corvette to their stable.
I don’t think the average McLaren buyer gives a rats *** about comparing the looks of a 300k car vs a 60k car.
this thing looks great for what it is but it ain’t no Ferrari, it ain’t no Porsche and certainly ain’t no Mclaren.
People arent cross shopping those cars with this. You have two types of corvette buyers- those that are comfortable spending the 60k and not much more and those that can afford to buy anything they want and do own a bunch of cars but are thinking of adding the corvette to their stable.
Why wouldn’t the latter buyer type compare the looks of a 300k car vs a 60k car?
That kinda performance at ~$60k is impressive, that said they did not design that car at that price point to only sell a few, they will sell a TON. Your car will not be at all unique, everyone will have one. The 997 is outperformed by lots of modern cars, what makes me love it is that it is a 911, so I could never trade one for the other.
Plus the space ship cockpit is way too much for me.
07-20-2019, 10:18 PM
