I am looking at a C2 for $50,000 and my son is looking at C7's,for $60,000. All things being equal I think my C2 will be worth $75k and his C7 will be worth $30,000 in 10 years. Im I correct ?

 

The best you will do, considering all the necessary expenses for the use, operations and enjoyment of your C-2 is...break even. The word investment coupled to our cars is misleading. Drive it and enjoy it. His C-7 will go down in value like any other new car. Dennis

 

If it is a rare unique car, fulie, BB car, etc. and is original, it could be worth more down the road. I agree with the above, as an investment it's a gamble. If you just want to invest $ there are a lot better ways to make $. If you want a car to drive and enjoy, his C7 is by far the best. These old C2's are just that, old. You get lots of "high 5's" but as a driver they are no comparison to the newer Corvettes. And the maint. on these old cars can be $. JMO

 

It depends which C2 you buy and which C7 he buys.

 

don't look at it as an investment.
get what you want, and what will give you the most enjoyment. If you look at these cars as an investment, 9/10 times you're going to be disappointed.

 

Assuming average NOM C2 (not a BB 427/435 NCRS, Bloomington car) and a brand new C7 Z06, C7R.

B/L: From my experience, I lose $10-20K in both scenarios...

The C2 requires constant maintenance and if you are like me, I have to tinker (5 speed, stroker motors, etc.) and upgrade at every chance, therefore, a C2 becomes a money pit.

A 2016 Z06 C7R will depreciate like a bitch (don't care what anyone says) and the tires wear out really quick and are expensive, insurance is more and I will STILL find upgrades (Xpel, jack pucks, tint, etc.) to do, therefore, it nets the same if not more of a loss:.

Go buy what makes you happy and don't sweat the small stuff...

OR if you can't stand the thought of losing $10-20K, bail out now and go quilting...

 

Who cares, you only live once, enjoy the cars while you can.

 

My good buddy bought the last year C6 ZR1, just traded it on a new yellow ZR1 with every option. He told me he took a 25k hit. Had less than 3500 miles on it when traded. Like any new car, going to drop like a boat anchor when trading that fast.

 

Based on those prices, I have to say you are buying a general small block C2, very nice, but probably not 100% NCRS. Your son is looking for a more or less standard C7 Corvette.

In 10 years, we will have two, maybe three new Presidents. Economy changes could be several. Gas could be $1 a gallon or $10 a gallon. Your old Corvette could be $75,000, $175,000, or clinging desperately to hang onto $50,000. His will have depreciated $10,000 to $20,000.

However, he can climb in his tomorrow long with his girlfriend/wife/best friend and a couple of bags of clothes and head out across America to anywhere, cruising along at 30 mpg, state of the art sound, and complete climate control. He can park it in a motel lot overnight and even if it disappears, insurance will have him another in a few days. He can drive it downtown to the ball stadium, park it at the airport extended parking to fly out of town, drive it to work everyday, and put 200,000 miles on it in the blink of an eye, with basically not much more concern than blinking an eye.

Yours will be sitting with collector insurance on it. Sure, you can up the mileage, but forget driving it daily to work, although I see that American Collectors Insurance now has a policy that is more for drivers than stored in a showroom collectibles. If you jump in with your wife/girlfriend/best friend and throw some luggage in back, a trip more than a couple of hundred miles will have you wondering between waves and smiles what the heck you were thinking. Your insurance agent will be freaking out, and if it disappears from the motel parking lot, it may eventually get replaced, but a lot of people are not going to be happy since it wasn't garaged or at a car show. Sure, you can put 200,000 miles on it, but you will rebuild the engine or at least the top end, unless you like dumping oil in it every 1000 miles after it hits 150,000. You'll discover the joy of rear wheel bearings and a distinct probability you discover that buying replacement parts occurs more than you ever thought.

Yes, that C2 was a daily driver 50 years ago. Even 40 years ago, many drove them daily or nearly daily. But today, they are toys. They are not the work commuter. They are not built for today's ethanol gasoline. They drink gas and make you think you are feeding two or three C7s.

But the fun you can have with one is hard to put a value on.

These are two very different animals, designed for two very different worlds and with two very different goals. If you try to buy based only on what you can sell it for in 10 years, you have missed the entire point of the hobby and are going to be very, very disappointed.

 

I could have said it better.

 

A more likely scenario is that your car will be worth more than his in less than 2 years. His could easily be at $30K in 5 years, or whenever the C8 debuts.

 

Yep. Been there.

Also remember that "heritage" is created by Donald Drapers of the world. These are two cars built in two eras sharing nothing but a name. You or your son could buy a similar vintage Porsche and Corvette and have a dissimilar experience like the one you're discussing.

If you buy a c2 and aren't concerned with absolutely correct things like water pumps and radiators you can run a quality car in expensively into the foreseeable future.

Don't sweat the long term value. Life is too short. If you MUST have a c2, as many of us feel, you'll KNOW when it fires to life every morning.

 

Me too.

I drive my '61 and '63 2-3 times weekly and forum member Jackfit has been around the world in his C2. Tom Parsons (DZAuto) drives his C1 all over as does member wmf62.

But, back to the original point. At first I thought C7s were going to have limited appeal which might have upped their long-term value staying power. Now, I see 2-3 and sometimes 4-5 on outings depending on distance and location. I'll pick one up in a few years for $15,000...

 

... enough said.

 

We have 5 new Z06's in our local club. At breakfast Saturday, One of the guys mentioned his personal property tax on his new Z06 will be $2600 for 2016. Next year it will be in the $2300 range. In 4 years he will have paid over $8500. When you add in the depreciation plus the taxes it really adds up to a financial loser. When you buy a C2, you may lose on the repairs and any upgrades but you can get most of your money back when you sell it. In Virginia, vehicles with vintage plates are exempt from property taxes. I did have to pay sales tax on it when I registered it but that is a one time fee. Btw, the sales tax on a new Z06 is $4000-$4500.

 

I have both and as someone said, the only thing they share is the name.

It impresses people when they find out I actually drive the 66 to out of town shows. To me it's a car and is meant to be driven. I didn't buy it as an investment.



Drove it 500 miles to Bowling Green last year and then won best of show in Birmingham on the way home.

 

New cars always depreciate. If they are true classics-to-be, they then appreciate. It usually takes several (3 or more) decades. C7's will be cheap and plentiful in the near future, just like 7 and 8 series BMW's, etc. And remember, these new cars are appliances: you won't be restoring and repairing 50 year old C7's with all their plastic out-gassing, air-bags degrading, and computer's going away. Basically, a disposable car, as all new cars are. So get the nicest one you can for the $$$ and drive it.

 

I have played with the idea for several months of getting a new C-7 next year for my 70th birthday. The '67 is not going anywhere. I love the look of the new generation and all the new technology, but when I got serious in the last 3-4 months, the $$$ depreciation really worried me, so I have put the desire off. I'm now looking for another C-2 Vette or B body Mopar muscle car. The physical experience out weighs the $$$. Dennis

 

The chances of a good condition, relatively close to original C2 increasing from its current value are better than the chances of a C7 increasing in value, at least at first, because the C7 will depreciate, a lot, long before it increases again while the C2 can go either way depending on condition, rarity and market. You can only influence the rarity (of the C2 that you buy, depending on the depth of your pockets) and the condition. The market is the big unknown.

Build numbers will not help the C7. There will be more C7s produced before the end of this year than there ever were C2s built. There are less C2s and more C7s out there every day. The big question is, will the kid down the street who drives a Prius want to buy a C2 when he has more money and less hair?

To rejoin other's advice, don't worry about the kid in the Prius and buy the car that you want.

 

Which one looks better to you?