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Since your asking our OPINION...I will say.....HELL NO!
But thats me...teh C5 is a nice vette, but the C3 is much more unique and the values are starting to go up. I see many many more C5s on the streets than I do C3s. Yes they are more technically advanced...blah, blah, blah....
What is it that attracts you to a C5? To me they are just a new car and would make a great daily driver, but they don't have any character like you find in older cars. If you are young, you probably can't relate to my thinking, but if you drove C2's & C3's when they were new, you'll understand why many people enjoy driving old Vette's and re-living fond memories. You can't do that with a new car unless your fond memories are only a few years old.
If your more into electronics and diagnosis, than a C5 would be more challenging for you, as you might find C3's boring and antique to work on.
C5's will be depreciating for many years to come, depending on the condition of your C3, it will probably be worth more than most C5's in about 10-15 years. As C5's get older and parts get scarce, there is a lot of expensive technology that can fail.
Maybe, you just need to make your '76 more fun to drive with a power boost!
I sold my '73 conv L82 to get a C5, but that was for a new one back in '04. Also sold the 90 coupe Went from two '73s and a '90 to one 73 and a very nice '04 vert.
The C5 is a totaly different (and better) car. If you want one to drive then the C5 is the way to go. But if you want a classic then the C3 is for you.
From: Graceland in a Not Correctly Restored Stingray
A numbers matching '76 isn't going to be setting any value records at BJ any time soon, so I wouldn't hesitate to modify and improve it. If you're truly concerned about hurting value, just don't do anything you can't undo and store all the parts that come off. You'll enjoy it much more and, IMHO, a nicely done C3 is a more interesting ride than the C5 will ever be.
But, do bear in mind that you've asked a bunch of shark fanatics here. I'll bet some of the C5 guys have been trashing us for being neanderthals, and that the mid-year guys think we're both nuts.
Bottom line, put your priority on doing what makes you happiest.
It's true, the C5's are dropping in value and the C3's are climbing a little here and there, even the rubber bumper cars are seeing some rise in value...but then no one should by a car based on assumed appreciation.
As you can tell from my sig I struggled with the same dilemma...I recommend keep your C3 and get a C5. Bang for the buck nothing, and I mean nothing on the street can touch a C5 Z06. I'll also add that the Z16/Z06 was the ONLY C5 to appreciate in value last year according to Corvette Enthusiast Magazine.
As you can imagine, the two cars are incredibly different. The Z is very raw, quick but makes a great daily driver. The '82 is my classic cruiser, I just settle back, turn up some tunes and enjoy the view out over those gorgeous fenders/hood line.
It's true, the C5's are dropping in value and the C3's are climbing a little here and there, even the rubber bumper cars are seeing some rise in value...but then no one should by a car based on assumed appreciation.
As you can tell from my sig I struggled with the same dilemma...I recommend keep your C3 and get a C5. Bang for the buck nothing, and I mean nothing on the street can touch a C5 Z06. I'll also add that the Z16/Z06 was the ONLY C5 to appreciate in value last year according to Corvette Enthusiast Magazine.
As you can imagine, the two cars are incredibly different. The Z is very raw, quick but makes a great daily driver. The '82 is my classic cruiser, I just settle back, turn up some tunes and enjoy the view out over those gorgeous fenders/hood line.
Awhile back I owned a 04 Z06 along with my 76. Two totaly diffrent animals. I do agree that bang for the buck you cannot beat a c5Z. However even though the Z could do everything twice as well as the C3 ,it seemed to me that it lacked the "heart & soul" that a C3 has. I decided that I wanted a new truck & in order to do that something had to go. So the 76 sits alone in the garage. I do miss the Z in alot of ways though. Like the time a Ls1 Trans am pulled up next to it & did'nt even want to play. Kind of fun driving a car around that is close to the top of the food chain an the street. If you do get a C5 I'm sure you will love it, but I also guarntee that you will miss your C3. So if it is financially possible I say get a C5 to go along with the C3.
I wouldn't trade my 76' for a C5. C5's are like Moped's, they are fun to drive but you wouldn't want your friends to see you in one (just kidding C5 guys). Forget the matching #'s. Your #'s match a smogged out dog. If this were a early C3 BB or LT1, different story. Invest a few grand and put a new crate motor in it. Something in the 300-350 HP range, Alum heads, intake. Modern fuel injection is nice too. There is nothing wrong with providing our late C3's with the HP THEY SHOULD OF HAD from the factory....gp