There is this notion that purchasing an automobile is like throwing money out the window. To a certain extent, it is due to relatively high depreciation costs. Yet there are exceptions to this, of course. One of these is the Chevrolet Corvette.
We’re not necessarily talking about the modern-day Corvette just yet (which could become a classic when the day comes). We refer to classic Corvettes. More specifically, the first- and second-gen Corvettes. This can be attributed not only to the limited numbers of some models but to things like matching numbered components, big-block 427-inch V8s, and fuel injection which was a rarity at the time.
Case in point is the example sold at auction by Barrett-Jackson, which fetched a cool $3,850,000. We’re talking about a rare 1967 Corvette L88 that was only produced in a very limited 20-example run for the track.
When it comes to modern offerings, the 2018 Corvette Carbon 65 Edition comes to mind. This one, which went for $1,400,000, benefitted the George W. Bush Presidential Center’s Military Service Initiative. Not just for show, it also had the go thanks to a 6.2-liter turbocharged V8 strapped to an automatic gearbox.
Yes, buying a car like the Chevrolet Corvette coulde just be a wise investment. You neve know how much your Corvette—America’s original sports car—could cost in thirty or so years.a