Looking at 98 Lingenfelter~Need help!
08-12-2005, 09:04 AM
#1
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Looking at 98 Lingenfelter~Need help!
Hi All,
I found a 98 Lingenfelter Corvette Coupe for sale and I'd like some opinions! It has about 40,000 miles on it. I called Lingenfelter and they told me it was a 383/450 horse, and that the guy spent 32k on upgrades (HRE Wheels, hood, brakes, motor, etc.)
What are these cars worth? The guy is asking $42,000. Is this a good deal? Is it a great deal? Bad deal? I'd love to have a C5 sitting next to my 64 roadster!!!
Speedy
I found a 98 Lingenfelter Corvette Coupe for sale and I'd like some opinions! It has about 40,000 miles on it. I called Lingenfelter and they told me it was a 383/450 horse, and that the guy spent 32k on upgrades (HRE Wheels, hood, brakes, motor, etc.)
What are these cars worth? The guy is asking $42,000. Is this a good deal? Is it a great deal? Bad deal? I'd love to have a C5 sitting next to my 64 roadster!!!
Speedy
08-12-2005, 09:10 AM
#2
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Picked up the same (99) considerably less as the dealer did not have a clue what he had.
My paperwork shows a 383 450 is a 26k mod w/ a 24k warranty. 42 seems a bit steep, but it all depends how it was maintained I guess. Mine runs great.
Good luck.
My paperwork shows a 383 450 is a 26k mod w/ a 24k warranty. 42 seems a bit steep, but it all depends how it was maintained I guess. Mine runs great.
Good luck.
08-12-2005, 09:20 AM
#3
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Ben,
What do you think a good neighborhood for price would be on this. It is in nice shape, but certainly has been used for it's intended purpose over the years.
In most instances, I would think that modifications to a car would decrease the value.
Speedy
What do you think a good neighborhood for price would be on this. It is in nice shape, but certainly has been used for it's intended purpose over the years.
In most instances, I would think that modifications to a car would decrease the value.
Speedy
08-12-2005, 09:28 AM
#4
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Rule of thumb:
Basic car resale price, plus 33% of mods = total price.
So, example:
If the '98 resale value is $20,000, LPE + options = $32,000 @ 33% = $10,560 = value price of $30,560.
Car conditon can make a difference, either up or down, to the value price.
Also, the LPE package warrantee time remaining on the drive train can add to the value price.
Other aftermarket products installed can also add to the value price (I.e., Vette Essentials interior, KEWL engine compartment enhancements, etc.).
Hope this assists.
Basic car resale price, plus 33% of mods = total price.
So, example:
If the '98 resale value is $20,000, LPE + options = $32,000 @ 33% = $10,560 = value price of $30,560.
Car conditon can make a difference, either up or down, to the value price.
Also, the LPE package warrantee time remaining on the drive train can add to the value price.
Other aftermarket products installed can also add to the value price (I.e., Vette Essentials interior, KEWL engine compartment enhancements, etc.).
Hope this assists.
08-12-2005, 09:28 AM
#5
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I really am not to sure about a final price as I don't know that much about the 98'.
From what I could gather on mine, it was the product of a pretty nasty divorce and dealer picked it up pretty cheap. They tried to change there mind after the deal, but I stood on what they advertised.
See if you can get the VIN and contact LPE about the car. When the work was done, what was done etc. A 383 Stroker is a strong engine, but I don't know about the one you are looking at.
See if you can get a Carfax done on it. Like I said, the mod was about 26k on mine. Perhaps 33-34k might be more of a number but I really don't know for sure.
Perhaps there will be someone else chiming in. Good luck!
From what I could gather on mine, it was the product of a pretty nasty divorce and dealer picked it up pretty cheap. They tried to change there mind after the deal, but I stood on what they advertised.
See if you can get the VIN and contact LPE about the car. When the work was done, what was done etc. A 383 Stroker is a strong engine, but I don't know about the one you are looking at.
See if you can get a Carfax done on it. Like I said, the mod was about 26k on mine. Perhaps 33-34k might be more of a number but I really don't know for sure.
Perhaps there will be someone else chiming in. Good luck!
08-12-2005, 09:29 AM
#6
Team Owner
lpe
Although an LPE car would be exciting to own just for the name,and no,i haven;t owned one,i would personally consider other cars because a 98 for 42 g's,although a lingenfelter,is still a 98 for 42 g's!you can almost get a c6,and certainly a 405 h.p z06,or pretty much anything in between!good luck with your search.
08-12-2005, 10:11 AM
#7
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Thread Starter
Thank you for the advice, everybody! I will try to negotiate with this guy, and if not possible, explore other cars. They made more than 1 C5, right?!!!!
08-12-2005, 10:11 AM
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Originally Posted by AC54ME
Rule of thumb:
Basic car resale price, plus 33% of mods = total price.
So, example:
If the '98 resale value is $20,000, LPE + options = $32,000 @ 33% = $10,560 = value price of $30,560.
Car conditon can make a difference, either up or down, to the value price.
Also, the LPE package warrantee time remaining on the drive train can add to the value price.
Other aftermarket products installed can also add to the value price (I.e., Vette Essentials interior, KEWL engine compartment enhancements, etc.).
Hope this assists.
Basic car resale price, plus 33% of mods = total price.
So, example:
If the '98 resale value is $20,000, LPE + options = $32,000 @ 33% = $10,560 = value price of $30,560.
Car conditon can make a difference, either up or down, to the value price.
Also, the LPE package warrantee time remaining on the drive train can add to the value price.
Other aftermarket products installed can also add to the value price (I.e., Vette Essentials interior, KEWL engine compartment enhancements, etc.).
Hope this assists.
Nicely put.
08-12-2005, 01:06 PM
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Originally Posted by jessem
Although an LPE car would be exciting to own just for the name,and no,i haven;t owned one,i would personally consider other cars because a 98 for 42 g's,although a lingenfelter,is still a 98 for 42 g's!you can almost get a c6,and certainly a 405 h.p z06,or pretty much anything in between!good luck with your search.
That's a lot of cash for a '98. 
08-12-2005, 01:14 PM
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Originally Posted by JDs00PewterCoupe
That's a lot of cash for a '98. Jon
08-12-2005, 01:31 PM
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Originally Posted by XCELER8
I would ask at least that much for my 97. Every item on my car is basicly brand new and my motor only has 300 miles on it. 100 from the street.
Jon
Jon
When selling, we limit ourselves with a highly modded car. Most folks don't want them. Finding the guy who does want them limits the resale market, but can happen. If you can find a performance enthusiast who wants the machine the way you did it, you can get your price.
08-12-2005, 04:31 PM
#15
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Originally Posted by lemansbleu2004
This '98 Ling isn't in or near Hagerstown, MD is it?
I got cought up in the fact that it was a Lingenfelter! You don't see too many of those in these here parts.
There is a bit of prestige that goes along with owning something like a Lingenfelter, a Saleen, an SS, a Zo6, etc...
I figured I could count of you guys to get some real facts!!! Thank you all again for the data. It is most appreciated.
08-12-2005, 04:59 PM
#16
Le Mans Master
Originally Posted by Cole
We can ASK what we like, but selling it at that price is often difficult. I agree with the folks who say that mods are for personal pleasure and have limited resale value - sometimes they can actually cause price drop. They are not like putting a new kitchen or bathroom in the house.
When selling, we limit ourselves with a highly modded car. Most folks don't want them. Finding the guy who does want them limits the resale market, but can happen. If you can find a performance enthusiast who wants the machine the way you did it, you can get your price.
When selling, we limit ourselves with a highly modded car. Most folks don't want them. Finding the guy who does want them limits the resale market, but can happen. If you can find a performance enthusiast who wants the machine the way you did it, you can get your price.
It is usually a very rude awakening when one goes to sell their moded vette. I have seen people list them on the for sale section and get offended by the low offers they receive. This car is definitely not worth anywhere near 42K. These moded vettes are a dime a dozen, you can pick them up cheap. If you don't believe me watch the for sale section for a month.
