Super-nice C5 Corvette Going for Just $6,300 on Craigslist
This 1998 C5 Corvette is as clean as they come, but at $6,300, have C5 values finally bottomed out?
As soon as a brand new Corvette leaves the showroom, a funny thing called depreciation kicks in, knocking dollar after dollar off the price of the car with every mile, scuff, and oil change until it finally hits the used and certified pre-owned markets. Of course, these are Corvettes, not Chevettes and, eventually, the value will hit bottom before swinging upward into Mecum and Barrett-Jackson territory.
With that in mind, you’d figure it would be a while yet before you’d see a clean C5 go for four figures on the market. Well, that time has come. This Los Angeles Craigslist listing for an excellent example of the C5 era Corvette is selling for a mind-blowing price of $6,300.
A few years ago, $6,300 would net you a busted C5 from Copart. Today, it gets you this black 1998 C5 in the suburb of Corona, some 40 miles southeast of Downtown L.A. This California Corvette has a 5.7-liter LS1 V8 mated to a four-speed automatic, good for 345 horses. The owner says the car “is in great running shape,” with a clean interior and clean title, has a targa top that is original to the car, and has “never been in any type of major accident.”
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As far as the rolling stock goes, the C5 has brand-new Michelin Pilot Sports at every corner, whose wheels cover new “drilled and slotted rotors.” The owner says they spent $2,000 total on the rolling stock refresh, and has the receipts to prove it.
Prices for the C5 have been coming down quite a bit over the years. A used Z06, for example, can be had for under $20,000, per a September 2016 article in AutoTrader. A standard C5 at $6,300, though, has us wondering if values have bottomed out at last. If so, we suppose it won’t be long before the speculators come in to ruin things for those of us who want a piece of the Corvette pie without paying four-star Michelin restaurant prices. Better buy these now before that happens.