Hello, all. I just joined this forum with the hopes of receiving some assistance on finding and purchasing a quality corvette (without getting ripped off). I am not that car savvy, so I am not sure what to look for when buying an economy car let alone investing in a corvette. I do know that I am looking for a corvette made in or between the years '71 and '76, manual transmission, preferably black or silver exterior and black leather interior, a chrome luggage rack on the back, and if there is an updated sound system that would be a major plus. I am looking at a max price around $15,000. A couple of questions I have already are:
- Do I want a rebuilt engine or the original?
- What should I look for in the way of mileage (and mileage on original v. rebuilt engine)?
- Are there any common problems with 'vettes from the years I am looking for?
- What can I expect as far as miles/gallon?
If anyone can assist with the answers to questions or enlighten me as to what important questions I am forgetting, I would greatly appreciate your help! I have also made a post in the "selling/want" section if anyone has a corvette fitting this description that they are selling or knows where I can find a 'vette fitting this description. Thanks again in advance for your help.

 

Since you want a modern sound system, I suspect that you don't really care that much about the 'originality' issue. That could be good for you, as 'originality' costs extra.

Look for a car that has been modified. Perhaps it has a replacement engine which is relatively new and in good condition. If so, that should be less expensive than a rebuilt engine in a 'numbers matching' car.

The most important things to look for are 1)frame/birdcage with low or moderate rusting; 2) paint in decent condition [expensive to repaint unless you do your own; 3) mechanical systems already in good condition [expensive to have a shop repair them].

 

Useful information here. Worth the price of a copy.


Covers all C3s.

Good luck with the hunt.

 

F.Y.I

1. Well if you want an original "BLACK" car you wont find one from 1970-1976 black was not offered as a color option. Stopped in 1969 started again in 1977

2. You mentioned "INVESTMENT" if you want one as an investment, you will want to find an original numbers matching car.

3. If your worried about gas mileage, your looking at the wrong car, mine is on the extreeme end of about 5 MPG

 

Holy Cr@p! 5MPG??? What kind of setup do you have???
*EDIT* I just noticed your user name - I still wouldn't have thought a six pack would only get 5 mpg. Do you only drive at the strip?

To the OP, a properly tuned carbureated 350 and you should be looking at around 13~16 MPG highway, and somewhere around 10 stop and go.

 

427 X 3 Duces = 5 Mpg city 7-8 Hwy = having fun !!!

 

If you want an "investment", may I suggest T bills or Bonds? Going into the purchase of any classic vehicle with the idea that it is a safe harbor for your money is unlikely to turn out that way. These cars require maintenance as they get driven, so operating costs will likely eat any "profit" realised from appreciation while you own it. That said, they are fun, and if viewed as either a reward for yourself, or as a fascinating hobby;you will not likely be disappointed with your purchase.

 

Not always the situation, but more then often it is...........not in my case I got lucky, from what I paid 15 years ago & the value today, even in a bad economy.

I have done better with my car then most of my investments & the stock market !!!

 

[QUOTE=Sammy621;1575536617] I do know that I am looking for a corvette made in or between the years '71 and '76,QUOTE]

I am curious as why you know you want a car between 1971 - 1976

why or how are you determining these years when basicly cars from

1968 - 1977 are similar then 1978 - 1982 are very close also,back glass

area changed.

So why 1971 to 1976

I don't think he meant an (investment car) I think he is saying investing money in a car ( getting as much car as he can for his investment )

I might be wrong it won't be the first time.

 

Mine has the original L48 and if I'm light on the gas and on a long highway cruise at 55, I get just over 21 mpg (US gallons). Cruising at 70, I get 16.5 mpg.

I'm driving 300 miles to Toronto to visit my family for (Canadian) thanksgiving this weekend so I look forward to repeating my mileage tests!

 

Some perspective, folks.... Buying a C3 as an 'investment' is much better [financially] than buying a used Toyota, or BMW, or whatever. Generally...unless you just trash the thing...it will hold its value or even increase in value, depending on what you buy and how you take care of it. And, I suspect, with the bond yields being what they are today, it will be a better investment than most bonds.

Anyway, '71-76 cars are less expensive [than '68-70], are low compression and will run on regular gas, and [probably] have been maintained better if they are still mostly original. We all know they couldn't beat anyone at the dragstrip, so most were not trashed that way.

The OP has a decent plan. It may not be what we would do, but I wish him success in finding what he wants.

 

Wow, that was a lot of quick replies. Thank you first off. Second, a few corrections and clarifications to make.

1. I am looking for a Corvette Stingray and was under the impression that the '70 and '69 generally cost a bit more so I was sticking to between '71 and '76. I was also told that the '69 had a different body style than the later stingrays. (correct me on this if I am wrong.)

2. When I said "investment" I didn't mean as one would invest in a stock or a business. I meant it more like something I would like to put money into or spend money on. "Getting my money's worth" basically.

3. No, I am not concerned with everything being completely original (as was pointed out by my wish of an updated sound system and stating that "black" was a color option I was looking at), however, if there is anything that it best left as original it would be helpful to know.

4. I understand that looking at a 'vette is not the best choice of a great gas mileage car which is why when I said I was looking for something that got decent gas mileage, I meant relative to cars in the same class. I would consider 16 mpg decent gas mileage (as far as what I would expect from the car.)

5. One post mentioned that a replacement engine (if relatively new) would be less expensive than a rebuilt engine on a car that is numbers matching. That is helpful to know, but given a choice, which is the better way to go if I will be using this as a daily driving vehicle?

I look forward to receiving more feedback. What I have gotten so far has been helpful in both prompting questions and answering ones I already had.

 

Let us know where you are, folks here may know about some cars that are available. Also let us know what price range you are looking to spend. Makes a big difference.

Good Luck!

 

Does a 70 really cost that much more than a 71? They're almost identical, 71 having a lower compression is the biggest change I can think of.

For the price range this fellow is looking for, wants to drive regularly, doesn't seem to want a project, I'd say a NOM Corvette would be his best value. It's going to be cheaper not being original. Painting it the color he wants will not destroy value. Upgrading to a modern sound system should not be a problem. The originality would not be a concern if he wants to modify or do as he pleases.

Last time I checked I think I was getting maybe 12 mpg out of my 70 big block...

A more modern engine would probably do better.

I'm not so sure of the investment argument. My investments are not subject to people colliding with them, breakdowns, etc. I see the appreciation, increase in value of Corvettes as a way to pay back the money we pour into these cars. Something which wasn't happening many years ago when these cars we depreciating...

If I were to buy a Vette for investment purposes I'd probably look for a full restoration, already done, park it in my garage and drive very sparingly to keep maintenance costs down as well as risk of damage.

 

I appreciate the help, but I'm not sure why we are still discussing the investment issue. I am making a car purchase, plain and simple. Let's just leave it at that.

 

I spoke with my accountant and he said you can optimize return on investment if you amortize the acquisition cost over 36-48 mths.... something about not showing it on the books as a capitol expenditure and instead showing it solely as an expense.... I'll PM you his info.



Where are you located?

 

Yes, I got that. I was responding to earlier posts from others.

 

A car which has had a later factory fuel injected engine, mated to a modern manual or "lock up torque convertor" automatic transmission in front of a 3.08 differential would provide a reasonably spirited driving exerience, get close to your desired MPG and be easier and less costly to maintain than any original drive train. These cars might have rust issues in the "birdcage" which is the metal core around which the fiberglass body is mounted, and in the frames. Paint jobs are expensive to farm out, and interior restoration can cost in excess of $1000 just in parts if the car has been neglected. It is challenging to fit a megawatt stereo in a C3's interior envelope without having the car look butchered.

I think that with your initial budget you can find a car which is excellent mechanically, and will need little to be cosmetically nice. Seek guidance here after you start to look seriously, share your "finds" and try and have someone who is familiar with these look at the ones you put on the short list... it's easy to be seduced by a shiny paint job!

 

Go to your local bookstore and get a Corvette history book. Several to choose from. That way, you'll be more informed and know what your looking at.
In the end. You get what you pay for.

 

miles per gallon???? LMAO!