Used 2016 Chevrolet Corvette Cost to Own

Total 5-Year Ownership Costs

Near ZIP

Corvette Z06

Z06 w/1LZ 2dr Coupe (6.2L 8cyl S/C 7M)

True Cost to Own

$91,232*

Total Cash Price

$68,035

Z06 w/3LZ 2dr Coupe (6.2L 8cyl S/C 7M)

True Cost to Own

$78,648*

Total Cash Price

$58,651

Z06 w/2LZ 2dr Coupe (6.2L 8cyl S/C 7M)

True Cost to Own

$116,399*

Total Cash Price

$86,803

Corvette Coupe

Stingray Z51 w/1LT 2dr Coupe (6.2L 8cyl 7M)

True Cost to Own

$106,175*

Total Cash Price

$79,179

Stingray w/3LT 2dr Coupe (6.2L 8cyl 7M)

True Cost to Own

$99,883*

Total Cash Price

$74,487

Stingray w/1LT 2dr Coupe (6.2L 8cyl 7M)

True Cost to Own

$106,961*

Total Cash Price

$79,765

Stingray Z51 w/3LT 2dr Coupe (6.2L 8cyl 7M)

True Cost to Own

$114,826*

Total Cash Price

$85,630

Stingray Z51 w/2LT 2dr Coupe (6.2L 8cyl 7M)

True Cost to Own

$115,613*

Total Cash Price

$86,217

Stingray w/2LT 2dr Coupe (6.2L 8cyl 7M)

True Cost to Own

$101,456*

Total Cash Price

$75,660

Corvette Convertible

Stingray w/1LT 2dr Convertible (6.2L 8cyl 7M)

True Cost to Own

$94,378*

Total Cash Price

$70,381

Z06 w/2LZ 2dr Convertible (6.2L 8cyl S/C 7M)

True Cost to Own

$99,883*

Total Cash Price

$74,487

Stingray Z51 w/2LT 2dr Convertible (6.2L 8cyl 7M)

True Cost to Own

$82,580*

Total Cash Price

$61,584

Z06 w/3LZ 2dr Convertible (6.2L 8cyl S/C 7M)

True Cost to Own

$84,153*

Total Cash Price

$62,757

Stingray w/2LT 2dr Convertible (6.2L 8cyl 7M)

True Cost to Own

$104,602*

Total Cash Price

$78,006

Stingray Z51 w/3LT 2dr Convertible (6.2L 8cyl 7M)

True Cost to Own

$90,445*

Total Cash Price

$67,449

Z06 w/1LZ 2dr Convertible (6.2L 8cyl S/C 7M)

True Cost to Own

$88,086*

Total Cash Price

$65,689

Stingray w/3LT 2dr Convertible (6.2L 8cyl 7M)

True Cost to Own

$94,378*

Total Cash Price

$70,381

Stingray Z51 w/1LT 2dr Convertible (6.2L 8cyl 7M)

True Cost to Own

$116,399*

Total Cash Price

$86,803

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Z06 Z06 w/1LZ 2dr Coupe (6.2L 8cyl S/C 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,443$1,486$1,531$1,576$1,624$7,661
Maintenance$4,583$1,615$3,772$1,054$5,567$16,591
Repairs$970$1,123$1,312$1,531$1,788$6,723
Taxes & Fees$3,590$48$48$48$48$3,780
Financing$3,659$2,943$2,178$1,362$493$10,635
Depreciation$11,961$5,432$4,828$4,333$3,949$30,502
Fuel$2,890$2,975$3,065$3,158$3,251$15,339
True Cost to Own®$29,095$15,622$16,734$13,062$16,719$91,232
Ownership Costs: 5-Year Total

Depreciation

$26,295

Taxes & Fees

$3,259

Financing

$9,168

Fuel

$13,223

Insurance

$6,604

Repairs

$5,796

Maintenance

$14,303

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Z06 Z06 w/3LZ 2dr Coupe (6.2L 8cyl S/C 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,244$1,281$1,320$1,359$1,400$6,604
Maintenance$3,951$1,392$3,252$909$4,799$14,303
Repairs$836$968$1,131$1,320$1,541$5,796
Taxes & Fees$3,095$41$41$41$41$3,259
Financing$3,154$2,537$1,878$1,174$425$9,168
Depreciation$10,311$4,683$4,162$3,735$3,404$26,295
Fuel$2,491$2,565$2,642$2,722$2,803$13,223
True Cost to Own®$25,082$13,467$14,426$11,260$14,413$78,648

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Z06 Z06 w/2LZ 2dr Coupe (6.2L 8cyl S/C 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,841$1,896$1,954$2,011$2,072$9,774
Maintenance$5,847$2,060$4,813$1,345$7,103$21,168
Repairs$1,237$1,433$1,674$1,954$2,281$8,578
Taxes & Fees$4,581$61$61$61$61$4,823
Financing$4,668$3,755$2,779$1,738$629$13,569
Depreciation$15,260$6,931$6,160$5,528$5,038$38,917
Fuel$3,687$3,796$3,910$4,029$4,148$19,570
True Cost to Own®$37,121$19,931$21,350$16,665$21,331$116,399

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Coupe Stingray Z51 w/1LT 2dr Coupe (6.2L 8cyl 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,679$1,729$1,782$1,835$1,890$8,915
Maintenance$5,334$1,879$4,390$1,227$6,479$19,309
Repairs$1,129$1,307$1,527$1,782$2,080$7,825
Taxes & Fees$4,178$55$55$55$55$4,400
Financing$4,258$3,425$2,535$1,585$574$12,377
Depreciation$13,920$6,322$5,619$5,042$4,595$35,498
Fuel$3,363$3,463$3,567$3,675$3,784$17,851
True Cost to Own®$33,861$18,180$19,475$15,201$19,458$106,175

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Coupe Stingray w/3LT 2dr Coupe (6.2L 8cyl 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,580$1,627$1,676$1,726$1,778$8,387
Maintenance$5,018$1,768$4,130$1,154$6,095$18,165
Repairs$1,062$1,229$1,436$1,676$1,957$7,361
Taxes & Fees$3,931$52$52$52$52$4,139
Financing$4,006$3,222$2,385$1,491$540$11,643
Depreciation$13,095$5,947$5,286$4,743$4,323$33,395
Fuel$3,164$3,258$3,355$3,457$3,560$16,793
True Cost to Own®$31,854$17,103$18,321$14,300$18,305$99,883

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Coupe Stingray w/1LT 2dr Coupe (6.2L 8cyl 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,692$1,742$1,795$1,848$1,904$8,981
Maintenance$5,373$1,893$4,423$1,236$6,527$19,452
Repairs$1,137$1,316$1,538$1,795$2,096$7,883
Taxes & Fees$4,209$56$56$56$56$4,432
Financing$4,289$3,450$2,554$1,597$578$12,468
Depreciation$14,023$6,369$5,660$5,080$4,629$35,761
Fuel$3,388$3,488$3,593$3,702$3,812$17,983
True Cost to Own®$34,112$18,315$19,619$15,314$19,602$106,961

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Coupe Stingray Z51 w/3LT 2dr Coupe (6.2L 8cyl 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,816$1,870$1,927$1,984$2,044$9,642
Maintenance$5,768$2,032$4,748$1,327$7,007$20,882
Repairs$1,221$1,413$1,651$1,927$2,250$8,462
Taxes & Fees$4,519$60$60$60$60$4,758
Financing$4,605$3,704$2,742$1,714$621$13,385
Depreciation$15,054$6,837$6,077$5,453$4,970$38,391
Fuel$3,637$3,745$3,857$3,974$4,092$19,306
True Cost to Own®$36,620$19,662$21,062$16,440$21,043$114,826

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Coupe Stingray Z51 w/2LT 2dr Coupe (6.2L 8cyl 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,829$1,883$1,940$1,998$2,058$9,708
Maintenance$5,808$2,046$4,780$1,336$7,055$21,025
Repairs$1,229$1,423$1,663$1,940$2,265$8,520
Taxes & Fees$4,550$60$60$60$60$4,791
Financing$4,636$3,729$2,761$1,726$625$13,477
Depreciation$15,157$6,884$6,118$5,490$5,004$38,654
Fuel$3,662$3,771$3,884$4,001$4,120$19,438
True Cost to Own®$36,871$19,796$21,206$16,552$21,187$115,613

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Coupe Stingray w/2LT 2dr Coupe (6.2L 8cyl 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,605$1,652$1,703$1,753$1,806$8,519
Maintenance$5,097$1,796$4,195$1,173$6,191$18,451
Repairs$1,078$1,249$1,459$1,703$1,988$7,477
Taxes & Fees$3,993$53$53$53$53$4,204
Financing$4,069$3,273$2,423$1,514$548$11,827
Depreciation$13,301$6,041$5,369$4,818$4,391$33,921
Fuel$3,213$3,309$3,408$3,511$3,616$17,058
True Cost to Own®$32,356$17,372$18,610$14,525$18,593$101,456

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Convertible Stingray w/1LT 2dr Convertible (6.2L 8cyl 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,493$1,537$1,584$1,631$1,680$7,925
Maintenance$4,741$1,670$3,902$1,091$5,759$17,164
Repairs$1,003$1,162$1,357$1,584$1,849$6,955
Taxes & Fees$3,714$49$49$49$49$3,911
Financing$3,785$3,044$2,254$1,409$510$11,002
Depreciation$12,373$5,620$4,994$4,482$4,085$31,554
Fuel$2,989$3,078$3,170$3,266$3,364$15,868
True Cost to Own®$30,098$16,160$17,311$13,512$17,296$94,378

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Convertible Z06 w/2LZ 2dr Convertible (6.2L 8cyl S/C 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,580$1,627$1,676$1,726$1,778$8,387
Maintenance$5,018$1,768$4,130$1,154$6,095$18,165
Repairs$1,062$1,229$1,436$1,676$1,957$7,361
Taxes & Fees$3,931$52$52$52$52$4,139
Financing$4,006$3,222$2,385$1,491$540$11,643
Depreciation$13,095$5,947$5,286$4,743$4,323$33,395
Fuel$3,164$3,258$3,355$3,457$3,560$16,793
True Cost to Own®$31,854$17,103$18,321$14,300$18,305$99,883

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Convertible Stingray Z51 w/2LT 2dr Convertible (6.2L 8cyl 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,306$1,345$1,386$1,427$1,470$6,934
Maintenance$4,149$1,462$3,415$954$5,039$15,018
Repairs$878$1,016$1,188$1,386$1,618$6,086
Taxes & Fees$3,250$43$43$43$43$3,422
Financing$3,312$2,664$1,972$1,233$446$9,626
Depreciation$10,827$4,917$4,370$3,922$3,574$27,610
Fuel$2,616$2,693$2,774$2,858$2,943$13,884
True Cost to Own®$26,336$14,140$15,147$11,823$15,134$82,580

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Convertible Z06 w/3LZ 2dr Convertible (6.2L 8cyl S/C 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,331$1,371$1,412$1,454$1,498$7,066
Maintenance$4,228$1,489$3,480$973$5,135$15,304
Repairs$895$1,036$1,210$1,412$1,649$6,202
Taxes & Fees$3,312$44$44$44$44$3,487
Financing$3,375$2,715$2,009$1,256$455$9,810
Depreciation$11,033$5,011$4,453$3,996$3,642$28,136
Fuel$2,665$2,745$2,827$2,913$2,999$14,149
True Cost to Own®$26,838$14,410$15,436$12,048$15,422$84,153

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Convertible Stingray w/2LT 2dr Convertible (6.2L 8cyl 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,655$1,704$1,756$1,807$1,862$8,783
Maintenance$5,255$1,851$4,325$1,209$6,383$19,023
Repairs$1,112$1,287$1,504$1,756$2,050$7,709
Taxes & Fees$4,116$55$55$55$55$4,334
Financing$4,195$3,374$2,498$1,561$565$12,193
Depreciation$13,714$6,228$5,535$4,968$4,527$34,972
Fuel$3,313$3,411$3,514$3,620$3,728$17,587
True Cost to Own®$33,359$17,911$19,187$14,976$19,169$104,602

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Convertible Stingray Z51 w/3LT 2dr Convertible (6.2L 8cyl 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,431$1,473$1,518$1,563$1,610$7,595
Maintenance$4,544$1,601$3,740$1,045$5,519$16,448
Repairs$961$1,113$1,301$1,518$1,772$6,665
Taxes & Fees$3,559$47$47$47$47$3,748
Financing$3,627$2,918$2,160$1,350$489$10,543
Depreciation$11,858$5,385$4,786$4,295$3,915$30,239
Fuel$2,865$2,950$3,038$3,130$3,223$15,206
True Cost to Own®$28,844$15,487$16,590$12,949$16,575$90,445

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Convertible Z06 w/1LZ 2dr Convertible (6.2L 8cyl S/C 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,393$1,435$1,478$1,522$1,568$7,396
Maintenance$4,425$1,559$3,642$1,018$5,375$16,019
Repairs$936$1,084$1,267$1,478$1,726$6,492
Taxes & Fees$3,466$46$46$46$46$3,650
Financing$3,532$2,841$2,103$1,315$476$10,268
Depreciation$11,548$5,245$4,661$4,183$3,812$29,450
Fuel$2,790$2,873$2,959$3,049$3,139$14,810
True Cost to Own®$28,092$15,083$16,157$12,611$16,143$88,086

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Convertible Stingray w/3LT 2dr Convertible (6.2L 8cyl 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,493$1,537$1,584$1,631$1,680$7,925
Maintenance$4,741$1,670$3,902$1,091$5,759$17,164
Repairs$1,003$1,162$1,357$1,584$1,849$6,955
Taxes & Fees$3,714$49$49$49$49$3,911
Financing$3,785$3,044$2,254$1,409$510$11,002
Depreciation$12,373$5,620$4,994$4,482$4,085$31,554
Fuel$2,989$3,078$3,170$3,266$3,364$15,868
True Cost to Own®$30,098$16,160$17,311$13,512$17,296$94,378

Ownership Costs: 5-Year Breakdown

Selected Model:

2016 Corvette Convertible Stingray Z51 w/1LT 2dr Convertible (6.2L 8cyl 7M)

Ownership Costs: 5-Year Breakdown
Year 1Year 2Year 3Year 4Year 5Total
Tax Credit$0$0$0$0$0$0
Insurance$1,841$1,896$1,954$2,011$2,072$9,774
Maintenance$5,847$2,060$4,813$1,345$7,103$21,168
Repairs$1,237$1,433$1,674$1,954$2,281$8,578
Taxes & Fees$4,581$61$61$61$61$4,823
Financing$4,668$3,755$2,779$1,738$629$13,569
Depreciation$15,260$6,931$6,160$5,528$5,038$38,917
Fuel$3,687$3,796$3,910$4,029$4,148$19,570
True Cost to Own®$37,121$19,931$21,350$16,665$21,331$116,399

*Based on a 5-year estimate with 15,000 miles driven per year.

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True Cost To Own®

Edmunds.com's True Cost to Own® (TCO®) is proprietary data that helps you estimate the total five-year cost of buying and owning a vehicle — including some items you may not have taken into consideration. A benefit of using our TCO® tool is that you can easily compare the five-year totals for different vehicles and make a more informed choice.

The components of TCO® are depreciation, interest on financing, taxes and fees, insurance premiums, fuel, maintenance, repairs and any federal tax credit that may be available. In order to estimate certain mileage-dependent costs, we assume that vehicles will be driven 15,000 miles per year. For a used vehicle, we calculate the years the vehicle has been driven using the nominal difference between the current calendar year and the vehicle's model year, and assume that it was driven 15,000 miles during each of those years.

Note that TCO® is a comparative tool, not a predictive tool — your actual five-year cost of owning a particular vehicle will vary depending on your personal circumstances, such as your driving history and the number of miles you drive.

How We Calculate True Cost to Own®

The True Cost to Own® calculations use the following set of assumptions:

  • Ownership expenses are estimated for a five-year period
  • You will drive 15,000 miles per year
  • You are financing the vehicle using traditional financing, not lease financing
  • You have an above-average credit rating for the purpose of determining your finance rate
  • You are making a 10% down payment on the vehicle at purchase
  • Your loan term is 60 months

Using proprietary formulas, we calculate the five-year costs for the seven cost categories that make up the TCO® (depreciation, insurance, financing, taxes & fees, fuel, maintenance and repairs). We also take into account any applicable federal tax credit.

Explanation of True Cost to Own® Terms

Total Cash Price

For new vehicles, the Total Cash Price displayed is the vehicle's True Market Value® (TMV®) price plus typically equipped options, destination charge, base tax and fees assessed by your state, and, if applicable, gas guzzler tax; less any widely available manufacturer-to-customer cash rebates. (However, we do not account for other types of cash rebates or incentives because of the variability of those offers and their eligibility requirements.) For used vehicles, the Total Cash Price shown is the sum of the vehicle's Private Party TMV® price in "clean" condition plus typically equipped options, and base tax and fees assessed by your state.

Depreciation

This is the amount by which the value of a vehicle declines from its purchase price to its estimated resale value. The purchase price employed is the vehicle's Total Cash Price, minus any taxes and fees included in that amount. We estimate the resale value assuming the vehicle will be in "clean" condition, will be driven 15,000 miles per year, and will be sold to a private party.

Insurance

This is the estimated average annual insurance premium in your state. The premium has been determined based on annual premium data for defined driver profiles and coverages (liability, comprehensive and collision) from a major national insurer. While this information is specific to vehicle make, model, model year and body type, your personal information is not taken into consideration and could greatly alter the actual premium quoted by an insurer. Factors that will affect your rate include your age, marital status, credit history, driving record, and the garaging address of your vehicle.

Financing

This is the interest expense on a loan in the amount of the Total Cash Price, assuming a 10% down payment and a loan term of 60 months. The interest rate used is the prevailing rate that banks and other direct automotive lenders are currently charging consumers in your geographic region who have above average credit scores.

Note: Even if you do not finance your vehicle, the inclusion of financing cost in determining True Cost to Own® is still appropriate because it reflects the estimated "opportunity cost" (i.e., the amount you may earn) if you invest the Purchase Price instead of using it to purchase the vehicle.

Taxes & Fees

This consists of the base sales (or use) taxes, license and registration fees in your state, and gas guzzler tax if applicable. These taxes and fees are often based on a percentage of the purchase price, and generally decrease as the vehicle ages and loses its value.

Note: the state sales/use tax rate that we use includes the average local and county taxes assessed in that state.

Fuel

This expense is based on the revised EPA mileage ratings, assuming consumption consists of 45% highway and 55% city driving and that the vehicle is equipped with the transmission that is standard equipment for that vehicle. Cost estimates are based on the current one-year moving average of self-service prices in your state, using regular unleaded gasoline for vehicles whose manufacturers require regular; premium unleaded gasoline for vehicles whose manufacturers recommend or require premium; or diesel fuel for diesel vehicles.

Maintenance

This is the estimated expense of the two types of maintenance: scheduled and unscheduled. Scheduled maintenance is the performance of factory-recommended items at periodic mileage and/or calendar intervals. Unscheduled maintenance includes wheel alignment and the replacement of items such as the battery, brakes, headlamps, hoses, exhaust system parts, taillight/turn signal bulbs, tires and wiper blades/inserts. Estimated tire replacement costs are supplied to Edmunds.com by The Tire Rack, Inc.

Repairs

This is the estimated expense for repairs not covered by the vehicle manufacturer's warranties over the five years from the date of purchase, assuming 15,000 miles are driven annually. We estimate this expense based on the cost of a typical "zero deductible" extended warranty for the vehicle, minus the estimated amount of that cost that consists of the warranty provider's overhead and profit.

Federal Tax Credits

This is the tax credit that is provided for under the Energy Policy Act of 2005. A tax credit is subtracted directly from the total amount of federal tax you owe. The tax credit is for electric fuel vehicles.

The credit is only available to the original purchaser of a new, qualifying vehicle, and is subject to certain "phase out" rules that we take into consideration when computing TCO®. If a qualifying vehicle is leased to a consumer, the leasing company may claim the credit.



Edmunds Insurance Estimator

The Edmunds TCO® estimated monthly insurance payment for a 2016 Chevrolet Corvette in Virginia is:

not available
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