One of the more easily accessible supercars of today happens to be Chevy’s Corvette. It’s sleek, fast, and performance-driven. Anyone who wants a taste of a European supercar but can’t quite afford one isn’t cutting any corners by opting for the Corvette. Ever since the C8 came along, it’s been the talk of the town. A true competitor in the supercar category, and at a far more approachable price than the Lamborghinis and Ferraris out there. However, even if a brand new C8 has been outside your price range, you might be thinking about joining the ranks by buying older used models from a private seller, maybe an auction, a wholesale lot, or even from a certified pre-owned Chevy dealer. But did you know what the pros and cons are of going one way or the other when it comes to buying a Corvette used versus certified pre-owned (or CPO)?
Certified Pre-Owned Corvettes are Limited to Certain Model Years
The biggest difference between buying used and certified pre-owned is the model years you have access to. Certified pre-owned models are limited in their available model years. Only Corvettes that are six years or newer and with 75,000 miles or less on the odometer are allowed to be classified as certified pre-owned. This is a highlight for anyone who is buying a Corvette wanting the latest model year available. This means that the C8 generation falls well within the category of certified pre-owned Corvettes.
When you buy used, you can buy any model year you want from any generation, so long as the model is available at the dealership, auction, or online listing. This works well if you’re interested in owning a Corvette for any year for any reason. Some places even carry classic models if you want to buy them. That’s the benefit of seeking out older used models. For instance, you could buy a certified pre-owned Corvette, but it would have to be within the last two generations. If you wanted, say, a C5 or C6, you could find a used dealership that has it, but the downside is that you wouldn’t get any of the guarantees that you would get with a certified pre-owned Corvette.
Buying Used Doesn’t Give You Any Guaranteed Coverage
This leads into the next topic… guaranteed coverage. If you’re buying a standard used Corvette from any old car dealer, you get what you see when you sign on the dotted line. That means whatever the seller promised (or didn’t promise) is what you end up with. This works out well if you can get a Corvette for a pretty low price with no expectations. However, for some people, just owning a ‘Vette is a badge of honor, and regardless of what condition it’s in or what guarantees you don’t get, some people are just happy to have one. It makes sense if your goal is just to tell your friends you own (or owned) a Corvette.
However, if you want more than just a used sports car with no guarantees, you go with a certified pre-owned Corvette. With a certified pre-owned Corvette, you’re at least guaranteed to have any powertrain issues covered for up to six years or 100,000 miles worth of travel, whichever comes first. That’s the benefit of certified pre-owned… the warranties. You also get bumper-to-bumper coverage for one year or 12,000 miles. In short, you get a lot of coverage with a certified pre-owned Corvette, but there are caveats to that.
Multiple warranties, roadside assistance, courtesy transportation, and a scheduled maintenance program all sound like great features to have if you’re buying used, and they are great features to have. However, you have to consider that all of those perks attached to a certified pre-owned Corvette means that you won’t be able to get one for as cheap as, say, a C4 or C5 Corvette with more than 100,000 miles on it. Obviously, you will be paying for quality, but some people are looking for a bargain.
While buying a standard used Corvette may be nice for those working on a tight budget or just want to say they own a popular Chevy nameplate, you ultimately get what you pay for. Now, if you can’t afford a brand spanking new Z06 C8 Corvette, it’s okay; a lot of people can only dream about owning that vehicle. However, with a certified pre-owned purchase, you can still get something manufactured within the last six years and still pay far less than the MSRP. Are certified pre-owned Corvettes more expensive than the cheapest used Corvettes on the market? Absolutely. But again, it depends on the quality and model year distinction that determines which of the used options best suits your tastes.
Maintenance vs Warranties
Now here’s a real deal-changer for a lot of people. Maybe owning a Corvette is all about being part of the in-club that says that they have one and are now part of the entry-level supercar circle. Maybe owning a Corvette is all about being a part of one of the longest-running sports car nameplates in the industry. Regardless of what your reasons are for owning one, you will have to submit to the very same practice every Corvette owner must submit to: maintaining the vehicle.
Performance cars require a lot more pampering than a typical economy vehicle. If you don’t really care about the upkeep of the Corvette, then sure, buying an old used one from a previous generation – any generation, really – probably won’t bother you too much. However, don’t expect it to last as long. Alternatively, if you get a used Corvette in decent condition but without any warranties, you’ll have to do your utmost to keep it in pristine running condition. It’s not impossible, but it can be tricky.
The certified pre-owned route looks really enticing in this scenario because for naturally occurring faults or failures, the warranties take care of all of that. It removes an extra layer of worry when it comes to the tender love and care required to keep a Corvette’s powertrain running the best that it can on the road. This probably applies doubly so if you plan on getting a C8 with the intent of showcasing your love for American-made supercars and ensuring that it’s still in drivable condition.
Quality Corvette vs Affordable Corvette
At the end of the day, if you just want any kind of Corvette from any generation. Any model year in any trim, you can definitely find some old used car from a local seller or an auction. However, if you’re interested in more than just the affordable aspect of a Corvette, then it makes sense to go with a certified pre-owned Chevy dealer who can net you a model year, trim, and configuration that comes with all the quality of a certified vehicle.
In that regard, it’s not just about having a Corvette, but about ensuring that it’s a vehicle that does more than sit around as a garage queen. You can actually drive it and know that if anything malfunctions, it’s covered. The added bonus of the 172-point pre-sale inspection and reconditioning process, plus the scheduled maintenance program, all help add extra value to the proposition. So yeah, if you want the cheapest ‘Vette you can find on the market, go with a standard used model. If you want a quality ‘Vette that nets you some long-term usability, then certified pre-owned is likely the better option.