WayneCar

I recently paid $27.5k for an '02 MY Z with 5k miles in very mint condition.
I think I paid at the high end of the value spectrum, but here are the reasons I did:
1. Condition was as close to perfect as I have seen and all fluids,etc had already been flushed/changed. Also owner had a lift and the underside was as clean/dry as the top.
2. All stock parts came with the car and the aftermarket pieces included new Forgestar CF10 wheels/tires and Borla Type 2 cat-back. I liked the mods done and had all stock parts to return back if wanted.
3. The seller was a great car guy I felt comfortable trusting and a friend with a good eye and judgment also looked the car over. I have a hard time being "objective" with my car purchases sometimes.
4. It was what I wanted. I had been looking for a no stories low mile
MY C5Z.
Value is very subjective. I have no regrets on the purchase or price paid.
Wayne

SLO VETTE

do you like it? then do it.

life is short.

TGO

$28k is too much for any C5 or C5z. But you know what they say...there's a sucker for every seat.


What are your intentions? To add it to a collection or to drive it? If you're gonna drive it then there's no point in paying a premium price for "low miles" as every time you drive it you're just gonna depreciate it more and more.

Personally I don't understand the whole low miles fascination. I'd be more confident in a car with 50-60k miles that runs great. Bathtub effect and all.

If the drivetrain is good. Paint is good. Then rock on IMO

C5Dobie

B/C - as others including myself have pointed out, even if you're going to drive (maybe ESPECIALLY if you're going to drive it) - you start @ 5-15,000 miles on the clock drive the car 7500 per year give or take (which would be REALLY driving a car like this depending where you live) in 4 years you have a car w/ 35-50,000 worth something if you get bored w/ it or financial situation changes.

You buy a well used C5Z start @ 40-60k on the clock keep it the same amount of time & drive the same amount of miles you end up w/ on the low end a 75-80k car worth the very very lowest of the spectrum or a 90k+ car that is near worthless.

bikeriderga

Not unless you are looking at one with over 100,000 miles or a non clean carfax.

bikeriderga

Is that car priced at the high end of the spectrum? Yes.
However, it is also at the lower end of the mileage spectrum.

If it has newer tires and everything checks out, your choice. You MAY or may not find another in that year, with that color, that condition, and that mileage.

P.S. Just a note, this time of year, the prices are dropping on the C5 Z06s. Might want to keep checking back from time to time and tell them to call before they sell.

95rtturbo

Well said Wayne! You found yourself a beauty for sure!

TGO

Okay buy you're paying more up front for the car with the lower miles. In this case nearly $10k more.

The math doesn't work.

Unless C5's appreciate...

For the same price you can get a C6. Probably even a LS3 C6.

WayneCar

Thanks Tom, I really am enjoying the car.

jeff7251954

But I don't want a C6 with or without a LS3. I want exactly what's now sitting in my garage. A black/black low mileage '04 C5Z that I paid a premium price for. And the math works for me.

TGO

Like I said..there's a sucker for every seat.

JD_Ls7

People are still paying low to mid 20s for a C5 z06 that has 30k+ miles...just like they were 8 years ago. The price isn't going up, but it's not going down either. They are holding value fairly well.

C5Dobie

Correct, I wasn't going to bother posting again b/c it seems like some people just don't want to listen - but I checked ebay for 2002-2004 Z06's, guess what? The ONLY ones w/ multiple bids were sub 30k mile cars, each had active bids over $20k and each had 3-5 days remaining on the auction.

Seems to me like mid $20's is still the price for low mileage C5Z's

Cars north of 70k miles? Barely any auction and low *****. Proof is in the pudding folks.

furious427

Nobody is saying 02-04 Z's with low miles wont sell for mid 20's, but there is nothing wrong with a higher mile Z for alot less $.

JD_Ls7

Some people think they know it all. When I went into NADA and KBB to see what my 03 with 20k miles was worth they both said $26.4k

SLO VETTE

it seems like they've flattened a bit, yes. not that i care, but it's also nice to see that they (z06's) aren't hitting the cheap seats. i'd venture a guess that guys (and gals) who were teenagers/early 20's when the first z06s came out, and dreamed of this car, will be buyers of them in the future. and more importantly, it will be a reasonably attainable purchase, which is long term healthy for the used c5 market--unlike the c1/c2 market which had a violent ride upwards for years. good for sellers, of course, but bad for enthusiasts who wanted to experience them.

C5Dobie

Sigh. I'm not saying there is. I'm just stating what seems to be fact, that the delta in price between a low mileage 02+ C5Z and a "high" mileage (70k+) C5Z is significant, - so much so that they're just 2 completely different animals & should be viewed as such.

The OP was debating on buying an ultra low mileage cherry C5Z, he's not interested in a well maintained but well worn high mileage car. People are chiming in saying paying anywhere close to the asking price of $28k is ludicrous cuz you can get a high mileage example for $15k-$18k - but what we all keep going in circles w/ like damn who's on first is LIKE I KEEP SAYING - the cars that are deemed "low mileage" have proven to retain their value MUCH MUCH better than anything w/ high miles. If you buy a car that has 11k on the clock it will remain a low mileage car for YEARS - and based on current pricing trends if you bought it right should retain its original purchase price value or extremely close if not appreciate slightly, HOWEVER if you buy a car w/ 70k on the clock for a discount, that is already a high mileage car, and you drive it any significant mileage that value will drop the 2nd you sign the purchase docs and PLUMMET if your intentions are to drive it regularly. Yes you save $$$ up front, & that's fine especially if you're gonna tear down and mod the hell outta it or use it as a track toy only, just throwing resale value out the window & going for the baddest used car you can get for your dollar - I 100% agree a high mileage C5Z is still the ticket. I also encourage buyers who want to go in that direction to do so, the more track beaten heavily modded rock blasted and/or wrecked C5Z's out there the more my low mileage cherry car holds its value !!!

But that was never the point of the thread. The point is from a value standpoint low mileage C5Z's have proven to hold value so long as you can keep them in that low mileage category & when buying an ULTRA low mileage C5Z my take is you get to have your cake & eat it too - ie: still drive it regularly while maintaining original value.

TGO

The cars are worth what someone else is willing to pay for it. Just because you saw some auctions on ebay means nothing. Just look at the for sale threads here. People asking stupid prices for their cars just sit for months and months. Either they don't sell, or they adjust their price.

I don't mind paying a little more for what I want. I think I paid $21k for my 01Z. It had 50k miles BUT it also had all the mods I would have wanted to do and would have cost me a lot more to do them on my own. FAST + intake, kooks, upgraded brakes, ls7 clutch, tune, etc. And also a well documented history on the car.

However, paying nearly $30k for a stock low miles car because you think it will be worth more down the road is crazy. Especially if the OP intends to drive it 7500 miles a year like you used in your example. Wear and tear, stone chips, scratches and dings...accidents (God forbid). There's a thousand other variables that affect the value of a car. Not just the miles.

Now, if it's going in a collection..that's different.

I am impressed with how the C5Z has held it's value and that I could probably get close to what I paid for mine if I decided to sell it. I think that speaks to the raw no frills experience that you simply cannot get from any current Corvette. However..you don't know where the market will go. Don't forget in 5 years the first C5Z's will be 20 years old.

I’m Z one

C5Dobie is spot on with this statement.

SLO VETTE

Funny, I was talking with a guy the other day who owns an '01 Z and a C6Z, both are pretty well modified.

His words for his C5Z were, "It's VIOLENT."

And he loves every minute of it, more than his souped up C6Z because of its visceral less refined feel.

Regardless, all Vettes are great. Just having one is an important hurdle and something to appreciate, regardless of what one paid.