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By Joe Tralongo
Updated December 23, 2019
If you revel in the thought of attaining one of the most impressive performance machines on the planet and paying a paltry sum for the privilege, the 2016 Chevy Corvette coupe or convertible is the car for you. Given its stats, even the pricier Z06 remains a relative bargain.
About the only reason we can think not to like the Corvette may be its overly aggressive styling. Honestly, beyond its 2-person limit, the Corvette doesn’t have any real faults. At nearly 30-mpg highway, even the gas-guzzler argument falls by the wayside.
Changes for the 2016 Chevrolet Corvette are mostly cosmetic. A new flat-bottom steering wheel is added, as is a power-cinch feature for the coupe hatch and convertible trunk. New options include a front curb-view parking camera, Magnetic Ride Control on Stingray models and Apple’s CarPlay capability via the MyLink app.
Chevrolet’s Corvette coupe and convertible for 2016 is a car just about anyone could love, be they buy-American diehards or the most meticulous enthusiast. Easily the rival of cars like the Porsche 911 and Ferrari 458 Italia, the Corvette leaves both in the dust with a ridiculously low price. And, while the upcoming 700-plus-horsepower Dodge Viper should prove a challenge, the Viper lacks the Corvette’s sophisticated suspension and interior that help make it a livable daily driver. From its sinister styling to its outrageous V8 engine, the 2016 Chevrolet Corvette is nearly untouchable. If you’re willing to pay more, the Corvette Z06 offers 650 horsepower and an even more aggressive suspension, making it the most powerful, best-handling model in Corvette history.
2016 Chevrolet Corvette pricing starts at $35,388 for the Corvette Stingray Coupe 2D, which had a starting MSRP of $58,220 when new. The range-topping 2016 Corvette Z06 Convertible 2D starts at $56,793 today, originally priced from $87,520.
Original MSRP | KBB Fair Purchase Price (national avg.) | |||
---|---|---|---|---|
$58,220 | $35,388 | |||
$62,220 | $36,450 | |||
$63,220 | $37,656 | |||
$67,220 | $40,739 | |||
$83,520 | $55,908 | |||
$87,520 | $56,793 |
The Kelley Blue Book Fair Purchase Price for any individual used vehicle can vary greatly according to mileage, condition, location, and other factors. The prices here reflect what buyers are currently paying for used 2016 Chevrolet Corvette models in typical condition when purchasing from a dealership. These prices are updated weekly.
After a day behind the wheel of Chevrolet’s 2016 Corvette Stingray, you might come away thinking this thing has to cost $100K or more. But it’s a Chevy, so you’d be wrong. What else does this miracle coupe deliver? How about a zero-to-60-mph run in less than four seconds, and highway fuel economy approaching 30 mpg. In the areas that matter most, those being steering, cornering, braking and acceleration, the 2016 Chevy Corvette easily equals the best in class. Chevy takes it one step further, however, with a driver-selectable program that allows up to five different programs for adjusting suspension, steering, throttle response and even the exhaust note. All this goodness also applies to the Corvette convertible, but with a drop-top time of just 16 seconds. In Z06 form, the Corvette simply rates as one of the best performance machines on the planet.
It used to be that the Corvette’s interior was something drivers tolerated so they could enjoy the car’s performance. Now, it’s a primary selling point. The combination of leather, aluminum and carbon fiber is as easy on eyes as it is the body, and when combined with the available suede upgrades and the 8-inch color screen on the center dash, this Stingray’s interior is a special place indeed. Details include two power USB ports in the center console and excellent cargo space under the coupe’s rear hatch; even the convertible sports a big and usable trunk.
The 2016 Chevrolet Corvette Stingray offers a road presence that has been absent in its predecessors for some time. Still uniquely American, the coupe and convertible also embody international cues, such as the decidedly Ferrari-esque front grille treatment. Even the iconic round taillights received a modernizing update. The Stingray convertible of course loses the sweep of the coupe’s roof, but when the fabric top is lowered and stowed behind the rear seats, it offers a presence all its own. The 2016 Corvette Z06 adds wider fenders and other aggressive styling cues to signify its role as the Alpha Corvette.
8-SPEED AUTOMATIC
Regardless of which Corvette you pick, you’ll have the option of a robust 8-speed automatic transmission at the ready. Because it still uses a torque converter, the Corvette’s 8-speed automatic can actually shift faster than many dual-clutch auto-manuals.
CORVETTE Z06
The epitome of the Corvette lineup, the 2016 Z06 utilizes a supercharged V8 engine that holds the title of most powerful factory engine ever produced by GM. With a starting price around $80,000, the Corvette Z06 delivers more performance per dollar than any European exotic.
Aside from dashing good looks, V8 horsepower and a 7-speed manual transmission, the Corvette Stingray comes with 8-way power-adjustable magnesium-framed seats, keyless entry with push-button start, a power-adjustable tilt/telescoping steering wheel, and 5-position Drive Mode selector that lets you adjust the Corvette’s driving personality to match the situation. The dash houses an 8-inch touch-screen display for the standard 9-speaker Bose audio, Chevy MyLink infotainment system and the standard rearview camera. All Corvette Stingray coupes get a removable carbon-fiber roof panel, while the convertible’s electronic top can be operated remotely using the key fob.
We strongly recommend the Z51 Performance Package for the Corvette Stingray, which upgrades the brakes, suspension, oiling system, tires and cooling system, while also adding an electronic limited-slip differential. Magnetic Ride Control lets the Corvette go from freeway commuter to racetrack-ready with the turn of a dial, while a dual-mode exhaust amps up the sound and adds a few horses. Interior upgrades include suede trim and a competition seat package. Corvette Z06 owners should opt for the Z07 performance package, which adds carbon-ceramic brakes and other go-even-faster hardware. The available 8-speed automatic offers paddle shifters and lightning-fast shifts.
Two engine options await 2016 Corvette Stingray buyers. First is the standard 6.2-liter V8 engine, with 455 horsepower, 460 lb-ft of torque and a hard-to-believe 29 mpg on the highway, thanks to its ability to imperceptibly shut down four of its eight cylinders at light throttle. The 2016 Corvette Z06 comes with a supercharged version of that engine, pumping out 650 horsepower and 650 lb-ft of torque, the most of any production car ever made by General Motors. Both Corvette models come standard with a 7-speed manual gearbox that sends the V8’s glorious power to the rear wheels. Optional is a GM-designed 8-speed automatic transmission that we feel is going to get a lot of takers.
6.2-liter V8
455 horsepower @ 6,000 rpm
460 lb-ft of torque @ 4,600 rpm
460 horsepower @ 6,000 rpm (w/performance exhaust)
465 lb-ft of torque @ 4,600 rpm (w/performance exhaust)
EPA city/highway fuel economy: 17/29 mpg (manual), 16/29 mpg (automatic)
6.2-liter supercharged V8 (Z06)
650 horsepower @ 6,400 rpm
650 lb-ft of torque @ 3,600 rpm
EPA city/highway fuel economy: 15/22 mpg (manual), 13/23 mpg (automatic)
Login or create a new account to see your vehicle depreciation forecast data.
Year | Vehicle Depreciation* | Resale Value | Trade-In Value | ||
---|---|---|---|---|---|
2022 | + $4,252 | $42,779 | $41,441 | ||
2023 | $4,513 | $38,266 | $36,979 | ||
2024 | $3,772 | $34,494 | $32,645 | ||
Now | $3,102 | $31,392 | $29,364 |
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2-Year Forecasted Depreciation
*Depreciation for the last 12 months of the private party resale value.
Annual Depreciation is an estimation of what your vehicle's value might be over time based on an average of similar vehicles. Estimations are calculated by comparing Kelley Blue Book Private Party Values of vehicles similar to yours over time, as well as forecasts from Manheim Auction data comparing current and projected auction values against current Kelley Blue Book Private Party and Trade-In Values. This is not a guarantee of actual depreciation. Local weather conditions, market factors and driver performance will also impact your vehicle's actual depreciation.
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Curb Weight | 3298 lbs. | ||
---|---|---|---|
Fuel Capacity | 18.5 gallons | ||
Front Head Room | 37.9 inches | ||
Front Leg Room | 43.0 inches | ||
Max Seating Capacity | 2 | ||
Overall Length | 176.9 inches | ||
Front Shoulder Room | 55.2 inches | ||
Trunk or Cargo Capacity | 15.0 cu.ft. | ||
Wheel Base | 106.7 inches | ||
Width with mirrors | 81.4 inches |
Alloy Wheels | Available | ||
---|---|---|---|
HID Headlights | Available | ||
Number of Doors | 2 doors | ||
Rear Spoiler | Available |
City | 16 mpg | ||
---|---|---|---|
Highway | 29 mpg | ||
Combined | 20 mpg |
Drivetrain | RWD | ||
---|---|---|---|
Transmission Type | Automatic | ||
8 speed | Available | ||
Recommended Fuel | Premium |
Horsepower | 455 @ 6000 RPM | ||
---|---|---|---|
Torque | 460 @ 4600 rpm | ||
Engine | V8, 6.2 Liter |
Basic | 3 years / 36000 miles | ||
---|---|---|---|
Powertrain | 5 years / 100000 miles | ||
Corrosion | 6 years / 100000 miles |
Used 2016 Chevrolet Corvette | Used 2023 Audi A5 | New 2024 Toyota GR86 | Used 2017 Jaguar F-TYPE | ||
---|---|---|---|---|---|
Price | $35,388 | $32,151 | $32,995 | $31,625 | |
KBB.com Rating | 4.0 | 4.6 | 4.3 | 4.5 | |
Consumer Rating | 4.5 | 4.1 | 3.9 | 4.7 | |
Fuel Economy | City 16/Hwy 29/Comb 20 MPG | City 24/Hwy 32/Comb 27 MPG | City 20/Hwy 27/Comb 22 MPG | City 19/Hwy 27/Comb 22 MPG | |
Fuel Type | Gas | Gas | Gas | Gas | |
5 Year Cost To Own 5-Year Cost to Own includes out of pocket expenses like fuel and insurance, plus the car’s loss in value over time (depreciation). | N/A | N/A | $43,601 | N/A | |
Seating Capacity | 2 | 4 | 4 | 2 | |
Basic Warranty | 3 years or 36000 miles | 4 years or 50000 miles | 3 years or 36000 miles | 5 years or 60000 miles | |
Horsepower | 455 @ 6000 RPM | 201 HP | 228 @ 7000 RPM | 380 @ 6500 RPM | |
Engine | V8, 6.2 Liter | 4-Cyl, Turbo, 2.0 Liter | 4-Cyl, 2.4 Liter | V6, Supercharged, 3.0 Liter | |
Drivetrain | RWD | AWD | RWD | RWD |
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Yes, the 2016 Chevrolet Corvette is a good car. Its Kelley Blue Book rating of 4 out of 5 is within 10% of our average rating.
2016 Chevrolet Corvette city/highway fuel economy ratings range from 13/23 mpg to 16/29 mpg, depending on trim and equipment.
Used 2016 Chevrolet Corvette prices currently range from $35,388 for the Stingray Coupe 2D to $56,793 for the Z06 Convertible 2D when purchasing from a dealership, depending on a range of factors like equipment, mileage, and condition.
The cheapest 2016 Chevrolet Corvette is the Stingray Coupe 2D, with a Kelley Blue Book Fair Purchase Price of $35,388.
The 2016 Chevrolet Corvette is part of the 7th-generation Corvette, which our owners give an above-average reliability rating of 4.5 out of 5.