Conventional wisdom says Corvette is an older person’s car, not that there’s anything wrong with that, but there seems to be a stigma from younger folks about the–arguably–best sports car in the world, at any price.
This makes sense because think about it– The Corvette is a $60,000+ car, majority of younger adults have children to haul around with extra bills, tuition, etc. In our opinion, it seems younger adults would be more apt to choose something a little more… practical.
But, on paper (and in person, who are we kidding), the ‘Vette is a show-stopper. Many consider it as one of the “best bang for your buck” vehicles and it’s holding spot #5 on the list of the most popular muscle car of all time. Awe, yeah.
Often compared to the Chevrolet Camaro, the Corvette may be a much more expensive option, but it has its reasons… It’s legendary background makes it seen as more as a sporty weekend car, maybe even a collector’s car, rather than just a good choice for a daily driver. Not surprisingly, out of all Camaro purchases, only 13.4% of owners paid cash.
But yes, just like you guessed… Studies show, the average Corvette owner is around 59 years of age. According to Experian, out of 32,000 recent registrations, over 40% of those people paid cash. Dang– only 56.9% financed.
“With the Viper and the Corvette being on the higher end of the muscle cars reviewed, it’s not that surprising that a higher percentage of consumers paid for them in cash,” said Melinda Zabritski, Director of Automotive Finance at Experian. “Our findings show that those buyers had the highest credit scores, which could indicate that they have more disposable income.”
For a while now, Chevrolet has been rumored to be trying to widen their customer base and a younger audience, but we think they have a good thing going– Why would they even consider altering their game plan with the Corvette?
We’ll soon find out as Corvette might go upmarket with a mid-engine car, giving the price a hike too. After selling more than 40k Corvettes in 2016, messing with a formula that sells will be a tough pitch to GM management.