Used Car Dealer Wants $375k for a Lightly Used Corvette Z06

The Corvette Z06 is often hailed as “America’s supercar” or the “supercar killer,” and much of the praise comes as a result of its relatively decent starting price. The 2023 Z06 has a starting MSRP of just $105,300, less than half the price of the cheapest Ferrari. With options and upgrades, it’s possible to push the price of a Z06 convertible past $160,000, but that’s only a fraction of one Illinois dealer’s asking price. Volo Auto Sales has a 2023 Corvette Z06 3LZ on sale for $375,000, more than 2.5 times the car’s $148,495 sticker price.

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No Markup Necessary: Toyota To Sell the GR Corolla Via Lottery in Japan

If you’ve even slightly considered throwing your hat in the ring to buy a new Toyota GR Corolla, you probably came face to face with the dual buzzsaws of dealer markups and minimal supply. Toyota Japan has its act much more together and appears to want to do the right thing with its buyers because it recently announced that GR Corollas would be sold through a lottery system.

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QOTD: How Can We Stop Dealer Markup?

Every day I see more dealer markup stories. For example, yet another Nissan Z markup story crossed our internal news wire desk this morning.

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Nissan Z Proto Spec Markups Are Absurd [UPDATED]

Look, we knew there was a lot of hype around the new Nissan Z. Rightfully so, as our first drive showed. And we know that quantities of any new model from any brand are usually limited at launch in a normal year -- and supply-chain problems across the industry, along with the pandemic's lingering effects on production, have made 2022 anything but a normal year for autos.

Still, the markups being charged for Nissan Z Proto Specs strike us as absurd.

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Ford CEO Asks Dealers to End Markups, Plans Punishment

You’re probably well acquainted with dealer markups by now. Supply shortages created during the pandemic have left the world with fewer automobiles and car dealerships are taking full advantage of the elevated demand. As you might have expected, this trend resulted in plenty of people overpaying or becoming cautious of a market they now see as wildly predatory.

Car manufacturers have begun asking dealerships to take it easy on the price gouging. General Motors made its plea last week and Ford has followed up by reiterating its own concerns during the company’s Q4 2021 earnings report. The Oval is worried that dealer markups are tainting its relationship with customers, with top executives making casual references to the trend back in November. Ford CEO Jim Farley is now telling dealers that they need to cut it out lest they be punished by the manufacturer.

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Bark's Bites: The Dealers Who Add $3,000 to Window Stickers While Secretly Selling at Invoice

In the last five years, I’ve visited over 2,500 dealers in 44 different states. Sometimes I think I’ve seen everything. And just when I think that, I’m invariably proven wrong.

This week, I walked through the doors of a massive dealership — easily one of the largest dealers I’ve ever set foot in (the name and make of this dealer shall remain anonymous, since the conversation was “off the record”). This dealer sells upwards of 500 new cars a month and about 200 used per month, and they’re planning to add even more floor space so they can increase their volume.

As I waited to talk to the GM, I browsed the cars on the showroom floor. Considering the overwhelming success of this store, you can imagine my surprise when I saw that every car on the floor, without exception, had an extra sticker on the window.

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Dodge's Markup Deterrent Dexterously Defeated by Dealers

Even though we knew the limited supply of Dodge’s SRT Demon would drive up prices astronomically, Fiat Chrysler still made a valiant effort to reduce markups by prioritizing deliveries to dealerships offering the vehicle at (or below) MSRP. Unfortunately, the plan didn’t work as intended.

This was especially true after some dealerships found a workaround by having intermediaries on eBay auction off the right to buy one of their Demon allocations. Instead of selling the car above the $86,090 sticker, which forces Dodge to omit custom nameplates and other Demon perks, they’re allowing prospective buyers to bid on the “privilege” of purchasing a Demon at the manufacturer’s stipulated value — for thousand of dollars.

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Owners Will Need to Sign Devilish Contract Prior to Demon Possession

As Hollywood writes it, when you make a deal with Satan, he bestows onto you whatever you covet most in exchange for your soul. However, there is usually some dark twist that ruins the overall experience long before you can settle into hell’s never-ending torment. If you ask him for money, it’ll be stolen from the mob and they’ll hunt you down. If you ask him for power, he’ll make you the next Adolf Hitler. The devil’s bargain is a well-established trope — you get what you asked for but cannot fully enjoy it thanks to some twisted fine print.

Fiat Chrysler’s SRT Demon Customer Acknowledgment contract functions similarly. Perhaps it’s a necessary evil because it specifically prohibits the brainless activities which would absolutely result in your 800+ horsepower drag car killing you or a loved one. That said, you could ignore all of the rules FCA carefully chose to include within the contract. But, when you do, the manufacturer has itemized and initialed proof where it explicitly forbid you from doing so.

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Dodge's Plan to Stop Dealerships From Gouging Potential Demon Buyers

When we announced that the Dodge Demon would have a MSRP below six-figures, the comments section was immediately populated with discussions on how that might not be the case once the strip-focused Challenger arrives in showrooms. The limited supply of early Hellcats came at a significant premium and, for a time, even gently used models were going for the manufacturer’s suggested retail price of a new one.

Gouging on the Demon seems even more assured since FCA has stated that it will be limited production to a mere 3,300 units in North America. Obviously, there is no way in hell to avoid dealer markup on a vehicle like this one but Dodge seems to think it has found a way to attenuate the matter.

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  • Dartdude The bottom line is that in the new America coming the elites don't want you and me to own cars. They are going to make building cars so expensive that the will only be for the very rich and connected. You will eat bugs and ride the bus and live in a 500sq-ft. apartment and like it. HUD wants to quit giving federal for any development for single family homes and don't be surprised that FHA aren't going to give loans for single family homes in the very near future.
  • Ravenuer The rear view of the Eldo coupe makes it look fat!
  • FreedMike This is before Cadillac styling went full scale nutty...and not particularly attractive, in my opinion.
  • JTiberius1701 Middle of April here in NE Ohio. And that can still be shaky. Also on my Fiesta ST, I use Michelin Pilot Sport A/S tires for the winter and Bridgestone Potenza for my summer tires. No issues at all.
  • TCowner We've had a 64.5 Mustang in the family for the past 40 years. It is all original, Rangoon Red coupe with 289 (one of the first instead of the 260), Rally Pac, 4-speed, factory air, every option. Always gets smiles and thumbs ups.