2014 Chevrolet Corvette Stingray: Strong Money
October 20, 2014
Cars lose 20 percent of their value as soon as you drive them off the lot, or so the tired old saying goes. But what if you special order a 2014 Chevrolet Corvette Stingray, pick it up at the factory and drive it twice as much as anyone else? Then, what is it worth 27,200 miles later?
We had our fun with the Corvette and, sadly, it was time to turn it back into money. This was an unusual car for us since we bought it at the Bowling Green Assembly Plant and even had a little plaque to prove it. Would anyone else think that added value? We decided that we would begin by taking it to CarMax to see what they would give us, thinking we might have to go the private party sale route this time around. CarMax amazed us with its offer.
CarMax offered us strong money, as a car salesman might say: $50,000 for the Corvette which stickered at $65,180. That means after a year-plus of enthusiastic driving, and nearly double the average amount of miles, it lost only 23 percent of its value. Furthermore, CarMax's price was $1,500 above the Edmunds trade-in value and about $1,800 below the private party price.
The hardest part of selling the Corvette to CarMax was getting past Cameron Rogers, vehicle testing assistant. He positioned himself between my desk and the door looking alternately threatening and tearful. So, in consolation, I will echo his parting words to this iconic sports car: "I'm going to miss the Stingray, for its beauty, performance, and the fact that we will not have any cars equipped with a manual trans once it's gone. Goodbye, Green Buddy. It's been a blast."
Philip Reed, Senior Consumer Advice Editor @ 27,200 miles