Used 2016 Chevrolet Corvette for Sale nearChicago, IL

How much does the 2016 Chevrolet Corvette cost?

Prices have softened 3.60% compared to this time last year, making it a favorable time to shop this model year.

There are 1,090 listings available, which gives you a solid amount of inventory to compare before you buy.

Is the 2016 Chevrolet Corvette a good car?

Yes — the 2016 Chevrolet Corvette earns a 4.9/5 user rating and an 8.5/10 expert rating. The standout strength is Performance at 10/10.

Owners consistently praise its exceptional performance, strong value for money, sleek design, and modern interior. The overview also points to a car that feels especially memorable because it combines attention-grabbing looks with a driving character that delivers a lot of performance for the money. That makes it a strong fit if you want a true sports car that still feels usable and modern.

The market also shows 34.9% of listings priced as good or great deals, which suggests there are worthwhile opportunities if you shop carefully.

Is the 2016 Chevrolet Corvette reliable?

Owners rate it 4.9/5, a strong signal of long-term satisfaction.

The owner feedback points to a car that feels dependable in the sense that buyers are very happy with its performance and value over time. The expert notes also emphasize that the Corvette delivers a lot of capability for the money, which supports the idea that it can be a satisfying long-term ownership choice if you buy a well-kept example.

The main used-car risk is condition, since some owners mention unwanted odors in prior-use cars and the model’s low-slung, performance-focused nature means neglected examples can show wear quickly.

What should I look for when buying a used 2016 Chevrolet Corvette?

At 74% accident-free, a meaningful share of listings has prior incidents — history verification is especially important.

You should start with a vehicle history report and then prioritize a thorough inspection of the body, interior, and equipment. Because this car is performance-focused, condition matters a lot: look closely at signs of hard use, missing features, or wear that could affect how the car feels day to day. If you notice odors or signs of heavy prior use, move on unless the price clearly reflects the issue.

Key things to evaluate:

• Trim level: The 1LT is the simplest version, while 2LT adds heated and ventilated seats, curb-view cameras, Bose audio, and a heads-up display. The 3LT adds leather surfaces everywhere, Napa leather seating, navigation, and the Performance Data Recorder, so the lower trim is the one most likely to feel light on convenience features.
• Powertrain: The Corvette uses a 6.2-liter pushrod V8 with 455 horsepower and 460 lb-ft of torque. It can run to 60 mph in under 4 seconds, and the automatic transmission is described as especially adept at keeping the car in its sweet spot.
• Safety package: The car comes standard with 4 airbags, side-impact airbags, a protective cell, four-wheel antilock brakes, automatic seat-belt pretensioners, and electronic stability control. Higher trims add front- and rear-facing cameras to help with parking and backing out.
• Infotainment: Dual 8-inch screens anchor the cabin, and Chevrolet MyLink includes phone, audio, and navigation when equipped. Apple CarPlay is included, Android Auto was to follow later, and OnStar adds remote start/stop, diagnostics, maintenance notifications, and other connected features.
• Fuel efficiency: The V8 uses cylinder deactivation and a tall 7th gear for highway cruising, and the car is described as having a whisper of fuel efficiency between bursts of power. It also uses premium fuel and has an 18-gallon tank.

Which 2016 Chevrolet Corvette trim should I buy?

The 2016 Chevrolet Corvette is offered in 3 trim levels: 1LT, 2LT, 3LT.

Here's the short version:

• 1LT: This is the entry point, and it still gives you the Corvette’s core appeal: the V8, the styling, and the performance. It makes sense if you care most about the driving experience and want to keep the purchase price lower.
• 2LT: This is the best-value trim for many shoppers because it adds heated and ventilated seats, curb-view cameras, Bose audio, and a heads-up display. If you want the Corvette to feel more complete without jumping all the way to the top trim, this is the one to target.
• 3LT: This is the most luxurious version, with leather surfaces everywhere, Napa leather seating, navigation, and the Performance Data Recorder. Choose it if you want the most upscale cabin and the most features.

The safety content notes that higher trims add front- and rear-facing cameras to assist when parking and backing out.

Is now a good time to buy a used 2016 Chevrolet Corvette?

This looks like a moderate, selective buyer’s market, so you can shop with some leverage if you’re patient.

• Deal availability: 34.9% of listings are priced as good or great deals.
• Inventory: There are 1,090 listings available.
• Price trend: Prices have softened 3.60% compared with last year.
• Clean inventory: 74.0% of listings are accident-free.

If you find a listing below $54,086, that's toward the low end of the year-round range and worth acting on quickly.

What is the 2016 Chevrolet Corvette's resale value?

The current average of $54,693 sits slightly below last year's $56,735.

That softer pricing suggests the market has already adjusted downward, which can help you buy at a more favorable point in the cycle. For a future seller, that also means resale value will depend heavily on condition, mileage, and how well the car has been maintained and equipped.

Because this model has strong enthusiast appeal and very high owner satisfaction, well-kept examples should continue to attract demand. Cars with desirable equipment and clean history are likely to hold up better than neglected or heavily used ones.

Vehicles with strong owner satisfaction ratings, like this model year's 4.9/5, tend to retain buyer demand, which supports resale value over time.

Is the 2016 Chevrolet Corvette safe?

The Chevrolet Corvette has not been rated by the National Highway Traffic Safety Administration nor the Insurance Institute for Highway Safety.

It earns a 7/10 safety score from our experts.

The Corvette comes standard with 4 airbags, including side-impact airbags and a protective cell, plus four-wheel antilock brakes, automatic seat-belt pretensioners, and electronic stability control. Higher trims add front- and rear-facing cameras to help with parking and backing out.

The main caveat is visibility, which is limited because of the car’s low stance and small windows. That means you should pay close attention to parking, lane changes, and tight urban driving.

Should I buy a 2016 Chevrolet Corvette or consider a different year?

If you're weighing the 2016 against nearby model years, here's how to think about it:

Choose the 2016 if:

• 34.9% of listings are priced as good or great deals.
• At 74% accident-free, a meaningful share of listings has prior incidents — history verification is especially important.
• Prices have softened 3.60% compared with last year.
• Owners rate it 4.9/5 — a strong satisfaction signal.
• The 2016 stands out for its updated interior and blinding performance, with optional cooling, adaptive suspension, and bigger brakes helping it punch above its price.

The bottom line: The 2016 is a strong choice if you want the Corvette’s updated cabin, standout performance, and a market that still offers some negotiating room. If you’re especially price-sensitive, a nearby year may be worth comparing, but the 2016 remains appealing because it blends value, speed, and modern features well.

How does the 2016 Chevrolet Corvette compare to the 2016 Ford Mustang?

Our experts score the 2016 Chevrolet Corvette 8.5/10 and the 2016 Ford Mustang 7.5/10.

The Corvette is the more expensive car, but it also delivers far more performance and a much stronger used-price position relative to its original cost. The Mustang is the cheaper buy and has more listings, but the Corvette’s stronger expert score, higher deal share, and much higher owner satisfaction make it the more compelling choice if you want a serious sports car. If you want maximum value for the money and can live with a tighter, more focused package, the Corvette is the standout.

These recommendations are based on CarGurus' proprietary market data from November 10, 2026, CarGurus experts' opinions, and generative AI.