hamburger icon
Deals Articles

C8 Chevy Corvette Gets First-Ever Deals

Chevrolet Corvette C8 red color front view

Chevy is offering its first incentive on the C8 Corvette. Based on bulletins sent to dealers, 2024 Chevy Corvettes have an unadvertised financing deal that could save you big money on a purchase. However, you may not want to get your hopes up too much if you're looking to score a Corvette discount after July Fourth.

On July 2nd, 2024 Chevy Corvettes became eligible for 7.49% financing for 72 months. GM is also offering an 84-month option at 7.99% APR. The offer lasts through July 31st and is the first deal we've ever seen since the Corvette's 2020 redesign. Since then, the model has seen markups and limited availability.

On a $70,000 car, we estimate that a 6-year loan at 7.49% would entail over $17,000 in interest. As a result, this isn't a particularly impressive deal. Having said that, given that the average interest rate is reportedly close to 10% APR, GM's new incentive could represent a roughly $6,300 price cut for some shoppers.

2020 Chevy Corvette back view on road orange color

Having said all of that, we found some important catches. First, Chevy is limiting the deal to LT versions of the 2024 Corvette. While the offer is technically available on 2023 Corvettes too, our records show that those sold out back in January. Additionally, GM Financial is enabling dealers to mark-up rates by as much as 2.5%.

Unlike a normal financing incentive, the one on the Corvette and a slew of other Chevys gives dealers two options: apply a 1.5% markup plus receive a flat fee of 1.5% from GM Financial or opt for a larger 2% markup in place of the flat fee. There's also a caveat that 84-month loans may be 0.5% higher than these figures.

At that point, you could be looking at a rate close to 10%. If that's the case, this could effectively negate any advantage in taking GM's financing. Shoppers should be aware that Corvettes still don't have lease incentives and there are no rebates. Unlike most GM models, the Corvette also doesn't have any loyalty discounts.

We're certainly curious as to why GM finally decided to begin offering deals on the Corvette after 4 years on the market. Inventory data shows that the Corvette isn't exactly plentiful with only around 2,500 listings nationally. Over half of those appear to be 2LT trim configurations, suggesting those may be the easiest to find.

Source: General Motors

Explore Chevy Corvette Deals Near You

Author profile
Alex Bernstein Senior Pricing Analyst

Alex has been writing about car buying and leasing for over a decade. Originally from San Francisco, Alex has a degree in History from the University of California, Santa Barbara, and has been a lifelong lover of cars. Alex’s work has been featured in publications such as Forbes, The Wall Street Journal, Motor Trend, and more.

Sign Up for Customized Deal Alerts

Subscribe to receive emails of the latest deals. Select list to join:

Related Articles

related article preview image
2023 Chevy Corvette Debuts With No Incentives If you're looking to get a deal on the newest version of the Chevy Corvette, the latest rebate info from GM could be disappointing. According to de...
photo of author Alex Bernstein Alex Bernstein Managing Editor Apr 19, 2022
related article preview image
How To Avoid A Corvette Z06 Markup The first-ever C8 Corvette Z06 may still be a year away, but consumers are already facing the prospect of a significant markup. In some cases, we'r...
photo of author Alex Bernstein Alex Bernstein Managing Editor Nov 18, 2021
related article preview image
Chevy Corvette Prices Remain High One Year Later Getting a deal on a Chevy Corvette hasn't gotten easier nearly a year after the car's highly-anticipated arrival. Due to multiple production issues...
photo of author Alex Bernstein Alex Bernstein Managing Editor Feb 22, 2021
related article preview image
2020 Chevy Corvette Lease Rates Are Pretty Terrible With a base price of just $59,995, the redesigned 2020 Chevy Corvette is certainly shaping up to be a bargain. However, in addition to the potentia...
photo of author Alex Bernstein Alex Bernstein Managing Editor Feb 28, 2020
related article preview image
C7 Corvette Discounts Just Got A Lot Worse Consumers looking to save a ton of cash on the outgoing C7 Corvette may be in for a surprise in March. According to a bulletin sent to dealers, the...
photo of author Alex Bernstein Alex Bernstein Managing Editor Mar 06, 2020

Sign Up for Customized Deal Alerts

Subscribe to receive emails of the latest deals. Select list to join: