Guide for the 2020 Corvette
The C8 2020 Corvette introduced the first mid-engine version configuration of the brand and has the fastest 0 to 60 drive times of any Corvette ever tested.
Written by Mary Cahill
Reviewed by Jessica Barrett
The 2020 Chevrolet Corvette is the first of its kind to be produced with a mid-engine configuration and boasts the fastest 0 to 60 time—at just under three seconds— of any Corvette ever tested by experts.
It’s no surprise that this debut model from the new C8 generation has the highest demand of any Corvette that’s entered the market in 25 years. This is no easy feat for a car with such a rich and enduring history.
For a better perspective of what makes the 2020 Corvette one-of-a-kind,
car insurance
comparison app and broker specialist Jerry
has put together a guide to ownership. In this article, we’ll talk about everything that makes the 2020 edition special and what you should expect to pay for one—plus, how to save on your Chevrolet Corvette insurance costs
!
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Ownership costs for a 2020 Corvette
How much you’ll pay to own a 2020 Corvette will vary based on what version you want to purchase. In 2020, Chevy rolled out the iconic Stingray available as a coupe or a convertible. Buyers can choose from three trim levels: 1LT, 2LT, and 3LT.
Between coming off a worker’s strike at the end of 2019 and manufacturing being cut in half due to COVID-19, the Corvette’s output maxed out at 20,368 units in 2020—a major shortcoming from its former projection of 40,000 or more units.
With the combination of limited stock and high demand very much at play, the 2020 Corvette’s sticker price experienced an uncharacteristically high markup with the cost of the Stingray 1LT starting at $67,495.
The low availability for the 2020 model year has caused prices to rise even higher on the used market, with the cost falling anywhere between $103,995 and $136,995 depending on the mileage and trim level.
But as we all know, there are a lot more expenses to car ownership than the MSRP. For a closer look at the cost of ownership for a 2020 Corvette, check out the table below which depicts the minimum and maximum costs for the first five years.
Cost | Minimum per year (first five years) | Maximum per year (first five years) |
|---|---|---|
Insurance | $1559 | $1789 |
Maintenance | $251 | $1158 |
Repairs | $0 | $840 |
Financing | $276 | $2185 |
Fuel costs | $2927 | $3295 |
Taxes and fees | $21 | $1234 |
Depreciation | $5739 | $3853 |
Where to buy a 2020 Corvette
If you’re in the market for a 2020 Corvette, there are some great online resources. Give sites like
Edmunds
or classiccars.com
a try—both offer a variety of options.
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What does the 2020 Corvette bring to the table?
We’ll get right to the point—the 2020 Corvette is the most innovative model to ever leave the manufacturing plant. As the first of its kind to feature the mid-engine—positioned directly behind the front seats—the ‘20 Corvette changed the game by totally revamping the vehicle’s weight distribution.
With a low center of gravity and repositioning of the driver’s seat so that it’s closer to the front wheels, the 2020 Corvette shows improved responsiveness, which contributed to the breaking of its own personal record for 0 to 60 acceleration—coming in at just under three seconds.
Strengths and weaknesses of the 2020 Corvette
There’s no question that this car is a stunner—but like everything else, it has a couple of flaws. If you’re debating on purchasing the 2020 Corvette, you’ll want to get familiar with its best features and the less than savory ones.
The good: groundbreaking speed
We have to mention it again. The Corvette was always fast, but now it’s crazy fast! When the 2020 Corvette was tested by experts, it tore down the racetrack, going from 0 to 60 in less than three seconds, placing it in the upper echelons of pure automotive speed alongside some of the fastest cars on the auto market.
The good: front cargo space
Never heard of a frunk? Well, get to know the term because the 2020 Corvette is fitted with one!
That’s right, one of the longstanding chinks in the Corvette’s armor—its lack of cargo space—has been remedied with the aid of a small trunk in the front of the vehicle as well as the one in the back, so you can finally fit in those his and hers golf clubs inside (if you’re into that sort of thing).
The good: exotic design
Let’s face it, the 2020 C8 model is just gorgeous. From its low-profile headlights and dramatic side air intakes to its rear hatch that shows off the car’s V-8 mid-engine placement via a sleek rear glass panel. The classic design is hard to beat, but the 2020 Corvette doesn’t aim to replicate it—opting instead to take its looks to the next level.
The bad: expensive used models
Due to the United Auto Worker strike of late 2019 and the disastrous effect COVID-19 continues to have on supply and demand, the 2020 Corvette has undergone some serious markups on the used market. These days, prospective buyers will be hard-pressed to find C8s for under $80,000.
The bad: only comes in automatic
Corvette purists may be disappointed to know that the 2020 edition is only available in automatic. For this reason, some drivers prefer to stick with the C7 for its manual transmission option.
The bottom line—which 2020 Corvette to buy
The 2020 Corvette is available as either a Stingray coupe or convertible with a foldable hardtop. There’s just something about the convertible that embodies an unmatched sense of freedom—which might be why it remains the more popular body style of the two.
If you’re game for spending extra on an already major purchase, you can equip your Stingray convertible with the Z51 package for $5,000.
How to save money on car insurance for the 2020 Corvette
Diehard Corvette lovers know that one of the best things you can do is protect your Stingray with a solid insurance policy. Worried about overpaying? Don’t stress,
Jerry
is at your service. As a licensed broker and
car insurance
comparison genius, Jerry makes finding the best deal on coverage an incredibly simple process. All you need to do is download the free app, answer a few quick questions about you and your Corvette, and just 45 seconds later, you’ll be browsing a list of the most competitive quotes from over 50 top insurance agencies. It’s really that easy! Plus, once you settle on a new rate and are ready to switch policies, Jerry will help you cancel your existing coverage. On average, people who use Jerry save $887 a year on car insurance!
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