Chevrolet Corvette Depreciation
A Chevrolet Corvette will depreciate 35% after 5 years and have a 5 year resale value of $58,507.
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 $90,666 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
| Years Old | Depreciation | Residual Value | Resale Value | Mileage | Resale Year |
|---|---|---|---|---|---|
| 1 | $10,427 | 88.50% | $80,239 | 12,000 | 2025 |
| 2 | $19,801 | 78.16% | $70,865 | 24,000 | 2026 |
| 3 | $22,077 | 75.65% | $68,589 | 36,000 | 2027 |
| 4 | $23,546 | 74.03% | $67,120 | 48,000 | 2028 |
| 5 | $32,159 | 64.53% | $58,507 | 60,000 | 2029 |
| 6 | $36,547 | 59.69% | $54,119 | 72,000 | 2030 |
| 7 | $40,609 | 55.21% | $50,057 | 84,000 | 2031 |
| 8 | $44,363 | 51.07% | $46,303 | 96,000 | 2032 |
| 9 | $47,835 | 47.24% | $42,831 | 108,000 | 2033 |
| 10 | $48,923 | 46.04% | $41,743 | 120,000 | 2034 |
Chevrolet Corvette Depreciation
| Years Old | Depreciation | Residual Value | Resale Value |
|---|---|---|---|
| 1 | $10,427 | 88.50% | $80,239 |
| 2 | $19,801 | 78.16% | $70,865 |
| 3 | $22,077 | 75.65% | $68,589 |
| 4 | $23,546 | 74.03% | $67,120 |
| 5 | $32,159 | 64.53% | $58,507 |
| 6 | $36,547 | 59.69% | $54,119 |
| 7 | $40,609 | 55.21% | $50,057 |
| 8 | $44,363 | 51.07% | $46,303 |
| 9 | $47,835 | 47.24% | $42,831 |
| 10 | $48,923 | 46.04% | $41,743 |
Buying a Chevrolet Corvette New vs Used
If you purchase a used Chevrolet Corvette that is 2 years old, then you could save $19,801 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 $12,358. 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 $3,100 per year. This adds up to around $15,500 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 2022 Chevrolet Corvette is our top pick for the best model year value for the Corvette. With the 2022, you would only pay, on average, 78% of the price as new, with 83% of the vehicle's useful life remaining. The 2023 and 2024 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 |
|---|---|---|---|---|---|---|---|
| 2024 | $90,666 | $90,666 | $397 | $0 | 0% | 100% | Better |
| 2023 | $93,334 | $82,599 | $447 | $8,067 | 8.9% | 88.5% | Better |
| 2022 | $103,298 | $80,733 | $527 | $1,866 | 2.26% | 78.16% | Best |
| 2021 | $99,450 | $75,236 | $656 | $5,497 | 6.81% | 75.65% | Good |
| 2020 | $99,341 | $73,538 | $763 | $1,698 | 2.26% | 74.03% | |
| 2019 | $86,333 | $55,715 | $930 | $17,823 | 24.24% | 64.53% | Good |
| 2018 | $85,739 | $55,654 | $1,060 | $61 | 0.11% | 64.91% | |
| 2017 | $85,697 | $52,739 | $1,110 | $2,915 | 5.24% | 61.54% | |
| 2016 | $85,650 | $48,925 | $1,144 | $3,814 | 7.23% | 57.12% | |
| 2015 | $85,006 | $44,933 | $1,189 | $3,992 | 8.16% | 52.86% | |
| 2014 | $80,415 | $37,021 | $1,255 | $7,912 | 17.61% | 46.04% | |
| 2013 | $112,200 | $39,989 | $1,358 | +$2,968 | -8.02% | 35.64% | |
| 2012 | $112,130 | $37,558 | $1,459 | $2,431 | 6.08% | 33.5% |
| Year | Price | % Paid | Value Rank |
|---|---|---|---|
| 2024 | $90,666 | 100% | Better |
| 2023 | $82,599 | 88.5% | Better |
| 2022 | $80,733 | 78.16% | Best |
| 2021 | $75,236 | 75.65% | Good |
| 2020 | $73,538 | 74.03% | |
| 2019 | $55,715 | 64.53% | Good |
| 2018 | $55,654 | 64.91% | |
| 2017 | $52,739 | 61.54% | |
| 2016 | $48,925 | 57.12% | |
| 2015 | $44,933 | 52.86% | |
| 2014 | $37,021 | 46.04% | |
| 2013 | $39,989 | 35.64% | |
| 2012 | $37,558 | 33.5% |
Chevrolet Corvette 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.
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:
Chevrolet Corvettes For Sale
2020 Chevrolet Corvette 3LT
$64,888
2022 Chevrolet Corvette 2LT
$67,888
2021 Chevrolet Corvette 2LT
$73,950
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