1996 LT1, 39k miles. White/black. Owned 22 years by the same gentleman. Fairly base car, but well looked after. Anything that required any attention, seals, fluid changes, brakes, tires, down to a sticky antenna, have been addressed immediately. Receipts and records galore. All work done by a local, well known and highly reputable corvette specialist.

Here's the kicker. The car has a rebuilt title. He purchased it in 98 as a rebuilt title car. He shared the story with me, and the amount of damage was ridiculous for an insurance co to total the car (front right damage, no airbags). He had the vette shop take off the clam shell and check the repairs when he purchased it (he has pics of all this). Shop said it was almost impossible to find any evidence of a repair, other than a new, well painted/matched facia and hood. Don't want to speculate why the ins. co. totaled it, but it's a rebuilt title, all that matters to me today.

So, what would this car be worth today? I am tempted, knowing of course if I were to sell it down the road, it's a rebuilt title car. I'm sure the initial response is "there are a ton of them for sale" but you have to consider the amount we're discussing. I don't want to cloud anyone's judgement with an amount, so please, if you know C4 values well, tell me what you think is a fair price based on my description here.

 

I was looking on ebay and prices are all over the place. I even saw cars with 70K miles and they wanted almost 20K utterly ridiculous. In the current market and with what is going on right now not many people buying cars period. I had a base 96 coupe that I bought in 2001. I paid almost 16K for a car with 60K miles. That was then and the car was 5 years old. A 96 is now 24 years old. It has a rebuilt title. If the hood was replaced and the front bumper that's a lot. It could have had the front suspension on the side hit replaced also. The miles are low but it's still a car that was hit and enough damage that they totaled it. I want you to think about this. My 96 had the hood replaced after I hit a deer around 2002. The only real damage was to the driver side headlight assembly that was laying inside the hood. The hood only had minor spider cracking. They replaced the hood after the first repair didn't hold up and the cracks reappeared. The hood was only $900.00 new. They still had to paint the hood and then install it after they paid for the first repair. They didn't total the car. My point being if they totaled this car back in 98 when it was just 2 years old it was a lot of damage. I wouldn't pay more than $8000.00 for it. Think about what it was valued at the time of the accident when 2 years old. It had to have been some serious damage for them to total it.

 

A well documented repair likely won't affect the value as much as an unknown one. I would ballpark it at 10k +/- 2k. I suspect you won't want to pay what he wants to sell it for though.

What is he asking for it?

 

Thank you guys very much. I’d like to keep the honest opinions rolling before I disclose his ask and my offer. Again, I’m fully aware of the hit when/if I decide to sell, so buying right is key.

 

^^^^^ I think that's a fair assessment given the low mileage, even with a rebuilt title. If its clean and drives well and you can get it for under 10k, then it's a great deal. Expect to pay around 10k even with the rebuilt title.

 

I think you'd have to get it for well under $10,000. I know it's a nice car but there are deals out there now. I just looked at a '96 LT4 ZF6, black/gray, 118,000 miles, really nice paint and interior but needed weatherstrip, ran and drove great, well maintained with records and a new transmission, clean title, asking $7,000 obo. It was on Craigslist for a couple weeks at that price before it finally sold. Back in February I looked at a '98 C5 coupe, 39,000 miles, automatic, white/black, both tops, almost pristine condition but needed tires, clean title, asking $9,500 but I could have gotten it for less.

A salvage title car is worth 30-40% less. I think $6,000 - 7,000 is more than fair for the car you describe. That said, this sounds like a nice car, so if it's what you really want and you plan on keeping it then go for it.

 

Check with your insurance company to make sure they will insure with a rebuilt title. Good luck. Sounds like a nice car.

 

I agree with Blackbird. $6-7K max. I never bought a car with a rebuilt title, but if I ever do it will be with the knowledge that it will be mine forever unless I'm willing to give it away.

 

A lot of it has to do with the particular provider too. I've had friends that have had cars totaled out that needed just bumpers and then in the same breath ones that had cars that were plowed into at 60 the the insurance company basically rebuilt and straightened the frames on to avoid an extra hundred bucks in a pay out check for a totaled car. It really depends honestly. If you can find the report on the extent of the damage and repairs and it was in fact nothing major. And you really love the car... I would go for it. But there are a lot of ifs in that statement.

 

No frame rail damage, with 100% certainty. Tire wear absolutely normal. Steering is perfectly straight. Whatever demons haunted it (even if the extent of initial damage was far worse) are not there now. Can’t tell anything happened looking at, or driving the car. Just a quick background on me, I worked at a collision shop for several years while I was in college. There are certain telltale signs to look for. This thing looks good.

 

Correct. $5000 fair price & keep forever.

 

For frame of reference, in February I bought a 54k mile ‘94 base coupe (Torch Red, black leather, A4). Owned by the same family for the last 13 years. Clean title, backed up by a perfect, accident-free CarFax. I paid $7500 (it did need new tires and some routine maintenance work, so I have more in it than that now, but still). So honestly, in this post-COVID world and market (I live in Phoenix, BTW)... for a salvage titled car, even a low-mile one, it’d have to be less than $7500... probably significantly less to seem reasonable to me. Just sayin’....

 

If the price is right buy it enjoy it, but remember 95% of all cars do not make good investments.

 

Ok, here goes. 7k is my offer. We’re not that far apart. Sounds like I’m in the ballpark with most people.

 

What is he asking? You could be 30+% off. Not exactly what I'd call ballpark.

 

Initially, 9.5 was ask, but we're now under 1k apart

 

Going up to look at it again tonight, at his request. I'm pretty sure we're there at my price. BTW, no melting snowflake here. I ask you speak your minds. You won't hurt my feelings. I appreciate all the comments, but 5k for this car, with this mileage and in this condition, is ridiculously low, but 10k is a 96 with a clear title, so that's ridiculously high. I'm thinking 30% off, at $7k is the sweet spot, at least in my area. The car's been enjoyed 22yrs since the accident, that gives me confidence.

 

Why does anyone care what someone is asking for an item? I care about what it sold for and current conditions. It sold for $5000 in early spring but today is late fall and the price is different. So sold price adjusted for conditions. That brings us to the current issue. Car dealerships are in trouble so prices might be even better.

 

Here is my thought. Whatever you are offering, it should be PENDING A FULL INSPECTION by a disinterested party. People get starry eyed and gloss over a bunch of stuff. I believe 96 was the first year of OBD 2. I'd get a professional to do a full check up including compression at my expense and one that isn't someone he knows. I have seen too many people who bought a car and found a host of problems. People pull batteries to reset the CEL but the new owner has the issue of registration. Common thing is that they all drove the car and it was fine till a day or two later. I have scanned them and found that the CEL was reset recently. Wonder why. Nothing personal but when I buy a used car, the PO is a liar or crook or both and I will verify.

 

To old buy a new one and enjoy. If one owner and mint with a 6 speed maybe $10.000 these cars are not that reliable,for parts are getting very over priced if you can find them! To many foreign parts with no quality GM only has to make parts for ten years, how old did you say that car was?