Chevrolet Corvette Depreciation

A Chevrolet Corvette will depreciate 18% after 5 years and have a 5 year resale value of $84,704.

The iconic Corvette is one of the best models out there for holding its value over the long term. Out of over 100 popular models, it consistently ranks in the Top 10 in years 5 and 7. The longer you own it, the better it does in holding its value versus the competition. If you are looking for a domestic muscle car that will maintain its value over the years, the Corvette should definitely be high on the list.

The chart below shows the expected depreciation for the next 10 years. These results are for vehicles in good condition, averaging 12,000 miles per year. It also assumes a selling price of $103,298 when new. Enter your purchase price, expected ownership period and estimated miles driven annually. Our depreciation calculator will predict an expected resale value for the Chevrolet Corvette.

Chevrolet Corvette Depreciation Calculator

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Current Price
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Chevrolet Corvette Depreciation

Years Old Depreciation Residual Value Resale Value Mileage Resale Year
1 $3,874 96.25% $99,424 12,000 2022
2 $8,770 91.51% $94,528 24,000 2023
3 $14,141 86.31% $89,157 36,000 2024
4 $16,528 84.00% $86,770 48,000 2025
5 $18,594 82.00% $84,704 60,000 2026
6 $20,660 80.00% $82,638 72,000 2027
7 $22,726 78.00% $80,572 84,000 2028
8 $25,742 75.08% $77,556 96,000 2029
9 $33,458 67.61% $69,840 108,000 2030
10 $39,336 61.92% $63,962 120,000 2031

Chevrolet Corvette Depreciation

Years Old Depreciation Residual Value Resale Value
1 $3,874 96.25% $99,424
2 $8,770 91.51% $94,528
3 $14,141 86.31% $89,157
4 $16,528 84.00% $86,770
5 $18,594 82.00% $84,704
6 $20,660 80.00% $82,638
7 $22,726 78.00% $80,572
8 $25,742 75.08% $77,556
9 $33,458 67.61% $69,840
10 $39,336 61.92% $63,962

Buying a Chevrolet Corvette New vs Used

If you purchase a used Chevrolet Corvette that is 2 years old, then you could save $8,770 compared to buying new, and still have a relatively new model with plenty of useful life remaining. If you plan to keep this vehicle for 3 years then your total cost of depreciation would be $9,824. Try other age and ownership length combinations, or different vehicles to see if you can find depreciation sweetspots where this cost is the lowest. Hint: Try vehicles between 2 and 4 years old, as brand new vehicles depreciate quickly. Also, if this is a recently released model and buying a few years old isn't possible, consider another vehicle, or perhaps wait until more used Corvette models become available.

What About Chevrolet Corvette Insurance Costs?

The average cost to insure a Chevrolet Corvette is about $2,369 per year. This adds up to around $11,845 after 5 years of vehicle ownership. Unlike depreciation, this expense can often be lowered by shopping around for lower insurance premiums. Comparing quotes will ensure that you are not overpaying if you already own a Chevrolet Corvette. Or, if you are just researching, then it would be money-wise to know this cost before buying. Try our Competitive Quote Tool or the form below to get free quotes. Advertising Disclosure

The Best Model Years to Buy a Chevrolet Corvette

The 2021 Chevrolet Corvette is our top pick for the best model year value for the Corvette. With the 2021, you would only pay, on average, 96% of the price as new, with 92% of the vehicle's useful life remaining. The 2020 and 2019 model years are also attractive years for the Corvette, and provide a relatively good value. Our rankings consider multiple factors, including the Corvette's price as new, current price, maintenance costs and remaining years of overall predictabe expenses. Our top ranked model year represents the most car for the money of the Chevrolet Corvette models.

Chevrolet Corvette Historical Depreciation

Year New Price Current Price Maintenance $ Decline % Decline % Paid Value Rating
2022 $103,298 $103,298 $384 $0 0% 100%
2021 $99,450 $96,148 $423 $7,150 6.92% 96.25% Best
2020 $99,341 $91,390 $486 $4,758 4.95% 91.51% Better
2019 $83,900 $73,001 $587 $18,389 20.12% 86.31% Better
2018 $71,063 $59,693 $671 $13,308 18.23% 84% Good
2017 $70,020 $57,416 $803 $2,277 3.81% 82% Good
2016 $68,971 $55,177 $1,070 $2,239 3.9% 80%
2015 $66,895 $52,178 $1,177 $2,999 5.44% 78%
2014 $65,030 $50,101 $1,275 $2,077 3.98% 75.08%
2013 $63,671 $44,467 $1,422 $5,634 11.25% 67.61%
2012 $62,671 $40,247 $1,441 $4,220 9.49% 61.92%
2011 $61,770 $37,062 $1,598 $3,185 7.91% 60%
2010 $60,208 $35,523 $1,826 $1,539 4.15% 59%
Year Price % Paid Value Rank
2022 $103,298 100%
2021 $96,148 96.25% Best
2020 $91,390 91.51% Better
2019 $73,001 86.31% Better
2018 $59,693 84% Good
2017 $57,416 82% Good
2016 $55,177 80%
2015 $52,178 78%
2014 $50,101 75.08%
2013 $44,467 67.61%
2012 $40,247 61.92%
2011 $37,062 60%
2010 $35,523 59%

Chevrolet Corvette Depreciation Rankings

Depreciation Rankings

We've ranked over 200 models from best to worst for Depreciation. See where the Chevrolet Corvette ranks for Depreciation compared to other vehicles. Also check out how the Corvette stacks up in our rankings for Maintenance, Insurance and Overall Costs.

Depreciation Rankings

Other Chevrolet Corvette Costs of Ownership

Finding a car or truck that saves on depreciation costs is important. But, it's also imperative to view all major Chevrolet Corvette costs. This will ensure that you are finding the vehicle that provides you the best value, at the lowest cost. We've created tools that will also help you to save on the following ownership expenses: