96Engineer

Hello all, I'm looking to buy my first corvette. I've done a lot of research on the C3s but it's time to start looking for my own. I'm not picky at all, as long as it's driveable and isn't too big of a project (my funds are limited for right now)
On that note, I dont have too much to spend, probably maxing out around 5k but like I said by no means does it need to be perfect, I just need to be able to drive it about 5 miles a day for a few months before I can invest more into it.
If you don't have one to offer but advice, that's well appreciated too.

snide

Where are you located? How far are you willing to travel for the right car?

96Engineer

I'm located in New Hampshire and Miami, and my willingness to travel depends on how likely I feel I am to buy it, if I know as a sure thing it's what I need then I'd be willing to travel quite a bit more than if it was something not as certain, if that makes sense

Revi

You may stumble across something half decent for $5k, but generally speaking the more money you spend on a nicer car up front the better off you will be. A $5k budget most likely limits you to a mid - late 70's vehicle. These vehicles are 35-40 years old now and most likely haven't been well maintained considering your price point.

Most $5k Corvettes will probably need another $10k worth of repairs/work done to it to make it nice.

Corvette math,
A $5k Corvette will cost an additional $15k to make it worth $15k.
A $10k Corvette will cost an additional $10k to make it worth $15k.
A $15k Corvette will cost an additional $5k to make it worth $15k.

snide

I live in New Hampshire and have a '76 that I may be willing to part with. Its white with black guts. Has an L82 and a 4sp. PM me if you want more information.

96Engineer

Yes of course, and I know it will take time and money in the future, that's not a concern for me as long as mechanically it'll run and drive while I take care of it, using your math I'll spend the same amount of money total buying one for 5 and fixing it up as I would buying one for 15 and showing it off. I look at it like this, It's my dream car, and if I can buy it now and keep on fixing/upgrading it as time goes on then why not? Obviously the price needs o be right but I can't just not try, you get me?

96Engineer

I messaged you 👍🏻

BKarol

Get the feeling you understand if you buy for $5000 there must be something to fix

Perused NH craigslist and got this. Know nothing about the car. Good luck in your search: http://nh.craigslist.org/bar/5121137809.html

softwarejanitor

This +1. I've got $15k into my 1980 that is probably realistically worth $10k. It still needs another $5k at which point it will probably still only be worth $12k-$15k.

Specifically starting with a $5k base line...

Any $5k C3 that is mechanically sound enough to be reliable chances are it will be rough cosmetically, otherwise it would be a $10k car... To make it a $10k car will most likely cost another $10k. Any $5k C3 that looks good probably has mechanical issues otherwise it would be a $10k car... To make it a $10k car will probably cost another $10k.

FWIW, there are more bargains to be had right now in early C4s than even late C3s. But the same dynamic still applies although perhaps not quite as severe.

96Engineer

Thank you for your help, I have a few saved on Craigslist that I need to follow up on, this definitely has potential though

96Engineer

Yeah, C4s do nothing for me though really.
And I don't mind mechanically sound but cosmetically lacking
Another note, spending 15k on a car worth 10k now, with potential to rise in value is a lot better than spending 10k on a car that will be worth 2.5k in 10 years

Revi

Have you read this?
https://www.corvetteforum.com/forums...-corvette.html

Aggitated Monkey

C3's just don't come cheep anymore. An early steel bumper car for $5k (if you can find one) will need a total rebuild and thousands to do it. A later car may be found but at $5 it also will need a lot. A driver say 74 to 82 will need closer to $10. My 78 was a fairly depenable driver when I purchased it last year. It was rust free (very important with C3's) and a complete car. I paid $7500 for it and had it shipped to Kansas from California. I'm doing a body on build. Front/rear suspension, engine and trans. I don't even want to say what I have spent in parts. I'm doing all the labor myself. Good luck on finding a driver. We are all here when you need help.

96Engineer

Yes I have, I've also read through the 20ish step buying guide on here, highlighting the main problem areas with these cars and how to detect/avoid them

96Engineer

Yeah I know it isn't an easy buy, that's why I'm doing my research and being cautious to make sure everything is perfect for my situation. There are certain factors that add up to a good buy for me and I'm looking closely for those, scouring Craigslist multiple times daily, even if just for info and references
(Also being a mechanical engineer, with some pretty solid contacts when it comes to engines and the sorts will help significantly)
I'd be happy to spend 5k now and then 10k over the next 5-10 years slowly making it perfect and doing what's needed

Bloodzone

I would wait and save and buy a 10,000 car.

96Engineer

A $10000 car will still need work though, plus if I wait too long a $10000 car might barely be better than a $5000 car because with each year more and more of the save-able cars die out, thinning the options and supply/demand and all that business stuff, obviously speculation but point is if I can get a solid one now I will, if I can't then I can't and I'll try again in the future

Bloodzone

You can still buy a nice daily driver later model c3 for 10K or even a little less. It won't have a chrome bumper or a high HP original engine but it will still have that C3 style that your looking for.

96Engineer

Yeah I might end up needing to wait, but if I can find a solid one now I'll pull the trigger, I won't buy a p.o.s. one that's a lost cause and better off as a parts car, there needs to be some nice potential

blk79nj

Remember, these cars are NOT investments, they are more of an expensive hobby.

My advice is to find a car that you can live with, and go for it. Sounds like you are willing to some of the work to keep it going, and are not too worried about a perfect car.

Good luck in your quest.