C7 Corvette Places in Top 25 Best Value-Retaining Vehicles of 2023

According to a recent survey, C7 Corvettes earn 23rd place among cars that retain their value after five years of ownership.

It comes as no surprise that older-model Corvettes typically hold their value very nicely. But this year in particular’s been particularly kind in that regard, according to survey data released by iSeeCars. The survey looks at retention values of every make and model, from sports cars to trucks to EVs. And the Corvette placed at a very respectable 23rd, holding 27.5% of sticker price after 5 years. That may seem steep, but let’s put this into context. For one, Chevrolet boasts two other vehicles in the top 25 list, the Camaro and Spark. The Camaro, in particular, does very well, outperforming the Mustang and reaching number 7 with 24.2%. Sports cars in general retain their value nicely over the rest, generally speaking. And this retention’s likely only going to rise with Corvette.

The Facts and Figures

Let’s take a look at what the spread is like. You’d expect vehicles like the Porsche 911, Jeep Wrangler, and Honda Civic to show up here. So they’re obvious shoe-ins, although the Porsche’s staggering 9.3% retention significantly outperforms everyone else. In fact, it nearly doubled the Cayman at number 2. Certain vehicles appear twice, like the Impreza and 911, representing different body styles. So there’s a lot of reading between the lines here. But in general, the trends favor trucks, hybrids, and sports cars. Conversely luxury and EV’s suffered the worst, with brands like Maserati, BMW, and Tesla populating the bottom of the list.

Next, we’ll exclude the Porsche 911 as an outlier and focus on the average spread. Out of 1.1 million five-year-old vehicles sold between November 2022 to October 2023, they lost an average of 38.8 percent of their value. Which places the Corvette at 13.3% ahead of the mean and between 7-10% behind the top spots, depending on if you also want to exclude the Cayman. Therefore, the Corvette’s ahead of the curve in terms of being closer to the top spot than the mean average. And it’s only likely to improve over time as the C7 becomes more and more desired by collectors.

Why Corvette Models are So Desirable

There’s something to be said about traditionalism. The fact is that the C7’s likely to be the last mass-produced naturally-aspirated front-engine V8 Corvette, barring some major shift in future brand image. Modern C8 Corvettes tend to straddle the line between sports car and supercar, blending the aggressive mid-engined styling aesthetic with more typical Corvette-like features. There are other points to consider as well, like the C7 being the last Corvette offered with a manual transmission. Or the ludicrous power and sound bellowing from the ZR1’s LT5 engine. Whatever the case may be, many see the C7 as the end of an era for Corvette. As such, this drives prices up on its own. And then you couple this with the sharp increase in used vehicle prices we saw during the pandemic, which hasn’t fully settled yet.

Overall, we’re betting that C7 prices will likely only go up from here as enthusiasts scoop them up. Part of that’s due to the C8 being what it is and representing a pivotal change in the Corvette’s design. But we also have to bear in mind, the C7’s just plain a really fast, well-made, and accessible high-end sports car. And, enthusiasts often have an eye for good-quality, affordable speed, which is part of what made the Corvette so ubiquitous in the first place.

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