95rtturbo

Agreed. The OP stated he bought it for $15K 2 years ago and still owes $12K on it. The last thing "I" would do, is purchase something more expensive in be in even more debt, especially when the C5Z is a great car, and in many ways, more reliable than the C6Z (I own an 08 C6Z, and owned a CE Z16 Z prior). Just my opinion.

y5e06

$10K trade on a car over a decade old and well over 100K miles sounds like a fair trade at a dealership. You're saving a few pennies on the tax trade too (at least in my state).
I've seen a number of used high mile Z06s like yours for near $14K locally (private party) and dealer trade-ins are easily $3-4k under the private resale value. So, its somewhat fair.

I'd buy it for $10k... (maybe 12k...)

C4in mesa

I gave the dealers numbers to paint an overall picture of my experience. To clear he air for some of you my credit score is over 700. I borrow from a credit union which allowed me to buy my 2004 Z06 at 3% interest. I pride myself at finding the best deal. I would NEVER sell my car for $10,000. I would sell it for $14,000. We are all owners of the C5 Z06 and we all know what a great car it is. If I do sell the car I'll sell it using Craigslist. I think the C5 Z06 is the best buy sports car out there on the market today.

~Josh

Makes me afraid to know what my '01z is worth. Has less miles and is a gem, but still. Damn.

Good thing I'm not selling it anyway!

radar502

Dealerships take these Corvettes to the auction is right .. I have been telling people this for years but no people think there old C-5s to the dealer is worth big money no there are not ,not to the dealer . Can't finance any Corvette with over 100,000 miles and it takes up room for a truck or can they could sell easy it's called lot space and lot space is worth way more that an old C-5 Corvette to them . I have a friend been selling Corvette for GM for 20 years ,he says he can not give anything for these Corvettes takes too long to move them , back to lot space . I know we see them all day long $15-18,000 the dealer will give for a C-5 might give $5,000 that's it or knock off $10,000 on a new car and act like he is giving you big money NOT . The dealer does not want there older Corvettes there in the biz to sell you a new something .. I have been buying and selling cars for years learn the system and yes there is a system learn it get ahead of the game .. Sell it on the open market .. The dealer is good for one thing I can't remember what that is ,I'll have to get back with that one..

S.C. vette

Based on today's values for a 04 Z06 in the south, KBB provides a aver trade in value of $18,968.... low trade in $13,372 and high trade in of $20,562. In our area of the south C5 Z06 retail for 23-24k and they don't last on the lot unless they are high mile beaters. C6s start 29+k, if you can find one. As your realtor would say, it's all about location

Drewstein

You're local to me. I'm no car salesman but I'll sell your Z for you and anything over $14k I get to keep?

I'm sure you can do ok if the Z wasn't ridden too hard.

edram454

dont sell your car. I have two c5z. one 30k with 471 rwhp mint. paid 22k worth more. other is a 2004 with forged ls6 at 600 rwhp.. i eat c6z for lunch every day. c6 uglier, narrower, taller and hate the front lights. why get in debt and get in a possible grenade ls7 that throws rods whenever... modify your z06/ c5z have great balance and potential. I will never get rid of mine. I will always have at least one c5z.

Torch FRC

Keep it

Drewstein

Speaking of, we're going on a corvette cruise to Prescott if you're bored tomorrow. PM me if you want to roll out.

racebum

this

kbb is also under most ebay completed auctions. nada clean trade is what these cars have always traded on. kbb has been both low and high, just depends on their mood. very unreliable book on the c5

that dealer most likely would have taken your car to auction and was looking to buy it a few thousand back of auction which is why he offered you what he did

i sold a mint for the mileage 02z with 109k 2 sets of wheels, nice stereo etc back in december for 16.7k and had no trouble getting it. multiple interested parties. this car had all age related items replaced, springs, hoses, quite a lot

so even if yours isn't that updated it is an 04 and if it's reasonably clean you should pull at least 14, at least

dork

I wouldn't mod the engine. If you're looking for more than 450RWHP you're gonna have to beef up the entire drivetrain to support it. That'll take you 'WAY over your $7000 budget.

Wait til the clutch goes out. In case you don't know, the entire drivetrain has to come out to change the clutch, all the way back to the differential. It'll be a good time to change out the torque tube bushings, which are generally recommended at 100,000 miles anyway. Swap out the differential for 4.10 gears (an extra $1700 - $2000) and change to a lightweight flywheel. Don't forget to add a clutch bleeder (and all the other clutch 'accessories' that usually get changed at that time--throw out bearing, slave cylinder, etc.).

The labor is redundant, so you're already paid up for dropping the differential. The only "bad" features are two--a lightweight flywheel is said by some to make a grinding commute a really dreary drive. I didn't find it that way,but I love a manual trans car.

I spent two weeks in a Silicon Valley-to-Walnut Creek drive and the worst part of it was the 7-9 minute crawls from light-to-light in Walnut Creek at rush hour, and still I didn't mind the physical gear rowing much. I mean, how much can you do, sitting at a light? With the lightweight flywheel, you don't even need the gas pedal to inch along if you just ease the clutch out and let the idle move you along. It'll go to almost 15mph on flat ground without hitting the gas pedal.

The second thing is, the clutch and pedals become much more sensitive--"touchy" if you will, until you get used to it. Initially, that IS a hassle to learn. Compared to OEM, it's almost like an on off switch because the RPMs rev SOOOooo quickly but once you get used to it, it's no big thing at all. I switch between a stock c7 and my c5 z06 and don't have any trouble whatsoever. Then again, I don't have to drive it daily up and down through the hills of San Francisco. THAT was tough--last thing I wanted to do was stall the Vette and make YouTube.

The biggest advantage of a 4.10 gear switch is the engine doesn't know any different--all the OEM specs for cam, pistons, etc still function as they were designed. You don't even have to beef up the half-shafts. I did a LOT of research--most folks claim that with drag radials this setup will shave "about" .3 off a qtr mile time. If you want more, you're gonna need deep pockets. This mod was enough to delight me and satisfy my cheeeep wallet.

I forgot--get a tune done. It'll work wonders. GM gelded the factory tune to keep within EPA specs. There's fantastic potential in the bone stock z06; a tune will make the car unrecognizable.

Mr.E.G.

Narrower?

edram454

yes narrower. the c5z is wider, fatter looking than the c6. check it out.

skydiven4fun

I buy a new truck about every 6 or 7 years, but the last 3 I purchased I never once considered trading my old one, I like most on here take excellent care of my vehicles and I know how dealerships work, at times I could use the extra cash, but I end up giving my old truck to my father or one of the kids, so far 2 of the last 3 are still on the road and still in the family.
Rule of thumb always sale your old car out right, Car dealers are in business to make a dollar and they buy low and sale high every chance they can.

Keep the Z it will definitely keep putting a smile on your face.

Mr.E.G.

He's talking about a C6 Z06, though, which is wider than a C5 Z06.

Drewstein

No, this advice is bad. You're better off doing cam, headers, tune than gears and you'll be way under budget. If you want more power supercharge it and tune it instead.

Option 1-
Cam, Headers, Tune

Option 2 -
Supercharger, headers

Both under budget and both don't need a "beefed up" drive train.

Eventually you have to do the clutch, it's a wear item. Just go LS7 and you're fine.

We have the best performance shops in the country here, use them and the amazing community. OP missed out on a 15 car corvette cruise to Prescott on Saturday. We do this all the time here.

dlparsons

You should be able to get $17k for your car privately. Take the time to sell it that way vs. trading in. It's the high miles that are killing your value. I just paid $22k for a 42,000 mile 04 and have a buddy that just paid $18K for an 80,000 mile 03.

rbartick

The dealer is not "screwing" you. They are in business to make money and they have to keep the lights on, pay salaries, etc. Profit is not a four letter word.

The dealer will not be able to sell a 13 year old car with over 100k miles, so I agree that the C5 will go to auction and they will not get much for it. The better question is why do you have a loan on a 13 year old car with 100k miles and why are you considering a new loan on an 11 year old car?

When I ordered my C7Z last year I was unable to trade in my C5Z. I was the original owner, it was all stock and in excellent condition, springs were changed, door lock relays were changed, and it was always garaged with only 18,000 miles. Local dealers didn't want the car and I had a hard time getting a decent price from a private sale. Everyone wanted to give me $18,000 for it.

radar502

Cool been saying the same for years . I can't understand why people with all the very bad story's about dealers going around people still think they are your friend .. One day people will get it ,whey are in the bizz to make money and they want your money .. Kind of like the girls in the strip club . I want your money ..LOL