Me and my dad are going to go look at a vette today. It's an Automatic 1989 Corvette. Red paint, good shape, etc, etc. But it's got 170k....I want to take it for a test drive, but should I have any concerns?

I'm afraid of the transmission, they don't usually last this long/much longer, do they? Are there possible "rebuild kits" etc that could be bought to rebuild the tranny before it ****s out? And is that too many miles on the engine? I plan on an engine rebuild over winter, but until then, I wanted to do full bolt-ons. Will a decent engine handle it?

Thanks in advance, it's a beautiful Vette from what I can tell, but I'm weary of the miles.

 

What I am about to post is my opinion although I've been driving Corvettes for over 10 years.

Corvettes are very durable, especially if they haven't been beaten daily. They can easily go over 200,000 miles. However, when you buy a car like that you don't know what the heck is going to happen. I say buy the best car you can afford. If you can't afford it at the present time then wait until you have saved up the $.

There are L98 cars with low mileage selling for a song and a dance. Also when you go to sell them there is a market. How large do you think the market is for a Corvette with a 170k miles on it - very narrow!

Probability says the car you are looking for is going need costly repairs and the $ you put into it, will never be gotten back. (not anytime in this decade anyway)

If you need to a buy a high mileager, then buy one with 90 or 100k but has had alot of maintenance such as tires, brakes, hoses, optispark, waterpump etc. That bargain Corvette that costs you $5,000 can cost you $5,000 easily in one year just with repairs and maintenance and upkeep.

Good Luck, there are better cars out there for you

 

Well see the money thing isn't really changeable. 4500-6000 is what I've got to spend on the car. My dad is actually buying it for both of us, but he's also got my College and my moms new car to pay for, so I'd feel terrible asking him to spend more. I want something a little rough, as a very easy project car, then I plan bolt on's.

 

I wouldnt mod the engine and start leaning on it with 170k, you know what will happen. Drive it for awhile..If you really like it keep it running and build a gresh one.

 

Put down 6k on an LT1. If you look hard, you can get one with under 100k for under $10k.

And the myth that banks won't finance anything old is a myth. All depends on the down payment. I had no problem financing my 94.

And 4k of debt isn't that bad. You could easily have it paid off in a couple of years-even if you're a teenager flipping burgers at McDonalds. Sorry don't know what your sitution is.

 

I'm going to give you an example of a scenario. I have a 93 that I can't decide if I want to sell or not however, it has 98,000 miles.

The paint looks almost new, the interior looks like it has 30,000 on it. It has new hoses, battery, clutch (throw out bearing was noisey) 1 year old tires, new AC compressor, good brakes etc. The car is almost all highway miles with 30,000 in the last year which was mostly done in 6th gear. It would make a perfect first Corvette for someone. The motor and tranny are rock solid and its never been driven hard or rough shifts. The motor looks fantastic.

If funds are limited and you are forced to buy a higher mileage car, that is the car you want to buy. These cars get expensive quick (just the parts even if you can do the labor) and you will have $10,000 in that thing faster then you can shake a stick. You then have $10,000 in a car that is essentially worth $5,000 and trying to sell it with say 200,000 miles will be next to impossible. Also, I have to be honest, driving a Corvette is awesome but if the car is always broken or you are always piling $ into it, then that wouldn't be fun for anyone.

Maybe you can get a job and save up the extra $ and then you and your Dad would have equal equity in the car. The Corvette experience should be a good one and hopefully one that will last a lifetime. I've heard seen two many times when people get a bad taste in their mouth because they buy a Roach and then the Corvette prices and labor deplete their funds rapidly.

There used to be a young guy on here years and years ago. I can't remember his forum name but somebody will remember him.
He bought a basket case and was always on here with it broken. People gave him great advice and support however eventually it became very frustrating to him and expensive and he decided to let the car go. If I can help you in anyway, please message me, I'm pretty good at finding good deals on used Corvettes. If you want I'll show you photos of my 93 to give you an idea of what you can get in the 8-11 range. If the range is much lower then the L98 earlier cars will probably be a good deal for you.
Trust me, there are guys out there with nice L98's with alot less mileage for good prices.

 

I bought mine with 107K on it and have beating the pizz out of it just about everyday for the past 3 years, hasnt broke yet

Its all about taking care of the car with regular oil changes and tune ups. If the trans isnt shifting smooth then dont beat on it. Generally you can get a rebuilt one for about $900 or so. As far as engine mods go, just drive it and save up the cash for those kinds of things later on.

 

Yes, but buying a car with 107k miles is alot different then buying one with 170k miles

Maybe it would help if the original poster posted some photos. Personally, I'd stay away from it just for the simple fact that someday its going to go for sale and selling a car with 200k miles is next to impossible. Better bet is to buy a car in the 75-100k range.

 

Sounds like the best advice you gould get from one who knows what he is talking about.

 

but if he's getting this car for dirt cheap, i'd just save up some money for a new engine when the time comes and drive it like it is. For $5000-$6500 you can get a lot more car.

 

I'd venture the motor is probably the least of his worries. I used to know a guy who unfortunately is not with us anymore. He used to beat the snot out of his LT1 every chance he had and the thing kept ticking. He did go through a ton of transmissions though and drivetrain parts.

Parts have a useful life and approaching the 200,000 mark - everything on that car has limited time before heading to the bone yard. If you don't replace it, everything gets sloppy and loose. Things like steering racks, suspension, wheel hubs etc.

In my experience, cheap Corvettes and Project Corvettes never seem to turn out right. Unless its the right project car, you almost always lose your ***. You put way more into it then you will ever get out of it. If you enjoyed the build process and the car and don't mind losing some $ then go for it. Most unfortunately are disappointed at the end of the day and wish things had been different.

The same can be said for mods. I've seen guys here who put 10-15,000 in a C4 and say they are happy with their decision.
Then I see them years later in the ZR-1 section saying they wish they could swing a ZR-1. They hold onto their C4 because they don't want to take a blood bath on it (I don't blame them) I would do the same. And Yes, I know you can build a C4 that has more HP then a ZR-1 for less $$ yada, yada, yada. I feel they would have been happier in the long run with the ZR-1.
Cars are not investments and unless you have money burning a hole in your pocket, you have to be careful about how you spend $ on your cars.

My approach is easy. I buy like new low mileage cars for about half of what they sold for new. Typically this is after the car has been out about 6-8 years. I take extremely good care of it and drive it to 100K miles and then sell it. I typically recoup 50% of what I have in the car. I then go buy another. On average, I lose about $2,000 a year in depreciation on my Corvettes (except the ZR-1) I can afford to buy new ones but I refuse to take the depreciation hit of a new Corvette.

I also think L98 & LT1 cars are a steal right now - best bang for the buck hands down. I'm just saying with as affordable as they are, buy something nice which is typically more in the 8-12 range. If funds are limited, you can buy one in the $5-6,500 range like the OP is asking about. However, that is just to get in the game. Expect that you can spend the same amount quickly in repairs and maintenance if something bad goes wrong. As long as you are aware of that and have the funds then go for it.

You can get attached to Cars and I've been there and done it. You love the car and put a motor in it. Now you have have $3,500 in it so you are vested. Then 6 months down the road, the tranny acts up. Thats 2,000 and you feel you have to do the tranny because you already sunk $3,500 in the motor. You sink the $2,000 and figure what the hell, now I have a rock solid car.
Next the Ac compresor goes for $400, you get the point. You then wish you never spent all the $$ on the car in the first place.
You go to sell it and you can't figure out why you can only get peanuts for it.

Of course, I'm not naive, these issues can happen to lower mileage cars but statistically speaking a motor, tranny and rear that has 170,000 miles on it owes nothing to you.

Good luck, I'm off my soapbox.

 

I have the money, but here's the situation.

I drive a modded 1997 Audi A4 1.8T. My parents got it for em as a first car. 2 years later [I just turned 18] I have two choices.

1. My dad gives me 5k towards a new car, so 5k [for my car] + 5k from him would go towards a new DD.

or.

2. He buys me a corvette around 5k.

I chose option two, as it doesn't cost me a thing, and I love C4's. I personally have the money for an LT1, as I own my own Detailing Company. [Hence the premier Detailing Logo]. I dont want to have a lot of money invested in this, as me and my dad will split most of the cost of parts. I want an L98 over LT1, I absolutely HATE the newer interiors, and I like the older body style better.

It turned out the Vette was a basket case, looked like **** in person. They had the Targa top permanently sealed to the body! I have another i mind, with a little over 100k. It's ugly, and needs paint bad, but it runs like a champ, and everything like power, seats, etc works.

I'm doing this as a bonding thing with my dad, as well as to gain knowledge about motors. My 1.8T sucks to try and work on, everything is so finicky. We wont invest much into the car, I'm gonna say total cost should end up around ~12k all said and done. But I dont want a weekend car in nice shape, i want to work to make it "mine."

 

Sounds like a good plan.

I'm just saying that X Corvette in X model year is only worth X.
Be careful not to put too much $ into the car because it's not coming back out anytime soon. For example if you have $12,000 tied up in an L98, it will be hard to sell because LT1 cars can be had for that.

Now if you fix it up and enjoy the car for a long time and it helps you to bond with your father then you can't put a dollar figure on that.

Have fun and make sure to post lots of photos on your progress.

 

Don't go this route.It's going to be bad enough for you owning an old vette and constantly having to come up with money to fix it.The last thing you want is payments round your neck as well.And you won't get cheap insurance.My Grandad used to say,"if you can't pay for it,you can't afford it". Truest thing I ever heard.