Considering c5 with flood title.
Thread Starter
Racer
Joined: May 2016
Posts: 330
Likes: 31
Considering c5 with flood title.
I found a beautiful 2002 c5 vert in immaculate condition and 98,000 miles with a Pa flood title.
There's no sign of flood damage. I test drove the car and it drives flawlessly.
The deal is to trade my well equipped 2007 Honda element EX plus cash for it. (I also own a c4).
The owner values it at $13000.
He wants my Element plus $5000 cash.
I countered with an offer of $4000 and he's thinking about it.
Considering these values and the flood title, what do you guys think of this deal?
There's no sign of flood damage. I test drove the car and it drives flawlessly.
The deal is to trade my well equipped 2007 Honda element EX plus cash for it. (I also own a c4).
The owner values it at $13000.
He wants my Element plus $5000 cash.
I countered with an offer of $4000 and he's thinking about it.
Considering these values and the flood title, what do you guys think of this deal?
Team Owner
Joined: Sep 2003
Posts: 25,393
Likes: 2,741
I found a beautiful 2002 c5 vert in immaculate condition and 98,000 miles with a Pa flood title.
There's no sign of flood damage. I test drove the car and it drives flawlessly.
The deal is to trade my well equipped 2007 Honda element EX plus cash for it. (I also own a c4).
The owner values it at $13000.
He wants my Element plus $5000 cash.
I countered with an offer of $4000 and he's thinking about it.
Considering these values and the flood title, what do you guys think of this deal?
There's no sign of flood damage. I test drove the car and it drives flawlessly.
The deal is to trade my well equipped 2007 Honda element EX plus cash for it. (I also own a c4).
The owner values it at $13000.
He wants my Element plus $5000 cash.
I countered with an offer of $4000 and he's thinking about it.
Considering these values and the flood title, what do you guys think of this deal?
What do you consider "no sign of"? Do you have any idea of what you should be looking for?
Burning Brakes
Joined: Jan 2007
Posts: 968
Likes: 122
From: Lighthouse Point FL
I'd say he was way high for a flood title car. I don't care how nice it looks and runs, that can't be better than a "fair" rating with a flood title. KBB has "fair" value at $8-10K.
Melting Slicks
Joined: Apr 2011
Posts: 3,495
Likes: 475
From: New Jersey
The problem with these is that there are so so many electronics that have issues even when the car is not a flood car. Corvette magazine's Tech Nerd section is a pretty scary read on this topic.
I have considered a C5 a few times and this is something I always think about. No chance I'd do a flood car.
I have considered a C5 a few times and this is something I always think about. No chance I'd do a flood car.
Race Director
Joined: Oct 2005
Posts: 11,771
Likes: 177
From: Rolla Missouri
2021 C4 of the Year - Unmodified Finalist
St. Jude Donor '10 thru '25
If you ever try to sell it, you have a very narrow market to sell too.
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Le Mans Master
Joined: May 2005
Posts: 7,354
Likes: 2,278
From: Central Maryland
Wish the seller well, and forget about this one. If he's willing to let it go for $4K, it might be worth consideration. Otherwise, you'll be way upside-down on the car, and potentially will be left with chronic headaches.
Live well,
SJW
Live well,
SJW
Race Director
Joined: May 2006
Posts: 10,691
Likes: 71
From: Phoenix Arizona
Exactly. 2002 with 100k, about $12.5. Salvage title is one thing, flood salvage is a whole different animal, unless you have full documentation on the type and duration of the flood. There are a lot of hurricane cars out here popping up every once and a while, and they're mostly salt water.
Burning Brakes
Joined: Apr 2016
Posts: 781
Likes: 73
Burning Brakes
Joined: Mar 2016
Posts: 1,014
Likes: 85
From: socal
lol no offense but that says it all man. Its one thing to overpay by a couple even a few grand on a hard to find C4, C5 when there are so many more common good ones at better or similar prices. This is very different.
If you absolutely must have the car, let the seller take it to the market, let em see how there's little to no demand and then approach w/ 4-5k cash.
If you absolutely must have the car, let the seller take it to the market, let em see how there's little to no demand and then approach w/ 4-5k cash.
Last edited by jay23ls; Jun 11, 2016 at 05:22 PM.
Burning Brakes
Joined: Dec 2013
Posts: 1,072
Likes: 48
From: Henderson Nevada
I'd pitch in but it would be beating a dead horse now.
Honestly, the seller should entertain the $5k alone. To hell with trading your Element. Your Element might be worth more by itself than the Vette with the flood title.
Honestly, the seller should entertain the $5k alone. To hell with trading your Element. Your Element might be worth more by itself than the Vette with the flood title.
Le Mans Master
Joined: Oct 2004
Posts: 7,706
Likes: 485
From: Everett WA
C4 of Year Finalist (appearance mods) 2019
I own both a beautiful C4 and a beautiful C5 and have put considerable miles on both.
The real issue here is the flood title which cuts the value of the C5 more than in half. Why buy this car? The type of possible electrical problems are certainly not worth the aggravation. Don't you put enough hobby effort into your C4?
If you want to add to your corvette collection with a C5 this is NOT the way to do it.
The real issue here is the flood title which cuts the value of the C5 more than in half. Why buy this car? The type of possible electrical problems are certainly not worth the aggravation. Don't you put enough hobby effort into your C4?
If you want to add to your corvette collection with a C5 this is NOT the way to do it.