Hi there Z06rs!

I currently own a 92 Coupe which I'm going to sell. Reason being is an upgrade to a Z06 in March So I'm not new to Vettes and I do most of my own work on the C4.

My budget will allow me to get either a low mileage 01 or higher mileage 02. I can't afford a low mileage 02 based on what I see out there. So here is the dilemna I need help with. I've read as much as I can but it sure would be nice to get feedback from people who actually own one.

Which do I buy and why / why not the other?

I'm not trying to start a bashing contest with 01/02 owners. My biggest concern is this oil consumption issue with the 01 models. Since the warranty is expired on all 01s. I don't want to eat the cost of getting a re-ring done on the car.

Other than that, which is pretty serious. The 385/405hp? Really that much difference? Suspension refinements. That much better? What else do I care about? What things do I check on these cars when shopping that are known problems I can find crawling around the car?

My plan is to use this as a daily driver for a while. But it will be an autocross and track/HPDE car too. I'm not looking for a garage queen. I intend to drive it like I stole it

Thanks for any input in advance,

Graham

 

What IS your budget?

I was looking at an 01. Most of the people here don't mind putting in extra oil as required but many had a recall and were re-ringed. The difference in performance is measurable but not huge. The 02 shock revisions allowed the power to be put down earlier so it was faster round the track but then the 04 dampers are an easy swop.

For me, the clincher wasn't the 01 "problems" but rather the fact that the 01 never had the HUD and I wanted one. I also wanted electron blue so 02 was the first year of that color.

The 01 can be modded easily to be as fast as the 02 but you get sodium cooled valves on the 02 to go with the more aggressive cam. Small points but maybe important.

The clincher is the difference in price. I paid 35500 for a 4000 mile 02 last April. My friend paid $34k for a 12000 mile 03 last November and the 01's, while way more desirable than a stock C5 coupe, suffer by comparison which means there are some amzing bargains out there.

 

I looked for an 02 for the same reasons that LuS1fer bought an 02, but I ended up getting a great deal on an 01. I bought it from a Chevy dealership and bought the extended GM warranty. My 01 burns a little oil, but not enough for the re-ringing. It burns less than a quart every 3000 miles, which is within normal for GM. Only real issue I have on my 01 is the clutch slave cylinder. I need to take it in and have the service bulletin done on this. If I run my Z hard for the first 3 gears, my clutch pedal disappears. Gets really soft and won't disengage immediately. I just need to find the time to drop it off and be without it for a week. I am going to try to get them to replace the clutch at the same time because of this problem. Other than that, I love my 01. It is a HUGE change from the LT1. I had a 93 Coupe before the Z. The Z is awesome!! And, it is my daily driver too. I drive around 22,000 miles per year.

 

I was in your predicament at first trying to decide on an 01 or spend more for an 02 and get a slightly better car. I wouldn't let the oil consumption issue steer you either way. All Gm car's I've owned when driven hard will use alittle oil from my experience.
By the way, I ended up going into debt on an 04 anyway! I'd do it all over again too...
Good luck!

 

I am the original owner of an 01, took delivery in August of 2000. I have only had minimal problems and those were not unique to the 01 model year. Some do consume a considerable amount of oil, 1 qt in less than 1000 miles, a re-ring may be a good idea. Some consume a little, a qt or so per 3000 miles, a re-ring could be done or you could just monitor your oil level and add when down a 1/2 qt. Some do not consume oil at all. Folks with some 02s and later years have reported some oil consumption. Oil consumption usually occurs when prolonged RPM are maintained.

Some 01s, and 02s for that matter, can be out of standard warranty. I would suggest considering cars that have the GMPP. It is the best warranty and covers the same items that the standard warranty did. I bought the GMPP extended warranty so I still have warranty left on my 01. GMPP is a good point to consider when buying your car no mater what model year. Keep in mind not all extended warranties are the same.

As far as performance goes, 20 hp is not significant when you are talking around 400. If you are inclined to apply the full range of standard bolt-ons on there will be very little difference between the 2 in performance, maybe 5 hp. So, if you are going to mod your car or if the car you find has the bolt-ons already installed, performance won't be an issue. I have the full line of bolt-ons and I gained about 50 rwhp with out a custom tune. That puts in the 380 rwhp range, not too bad.

It comes down to your budget and the deal you find on the cars. It also depends on what you expect to do with the car. In the end, you have to go with what you are going to be happy with.

I have just decided to sell my 01. Here is the listing. Since I am the original owner, I know how good the car is. And with all of the items that I am including in the sale, I think the deal is pretty good too.

Good luck. The Z06 is a great car and will provide plenty of fun and excitement.

Don

For Sale: 2001 Z06 Quick Silver Red / Black Interior. All available options except body side molding, 24,800 miles by original owner, 5/50 GMPP extended warranty good thru 9/2005, All 4 GY F1-SC less than 4000 miles. All mods, other items and original stock equipment go with sale of the car.

Over $3,000 in Mods.
Mod items: BPP long tube step headers, BPP Vortex Rammer with 1 extra filter, BPP shifter with silver & black ****, BPP street x-pipe, Borla Stinger quad tips, HallTech carbon fiber air bridge, 178 degree thermostat, MSD plug wires, fan controller, shortie antenna, black Lloyd's Z06 mats, red/black leather steering wheel wrap, tinted windows - darkest legal.

Stock items included: air box & filter, air bridge, exhaust manifold, Ti exhaust, shifter & ****, floor mats, mast antenna, Z06 video, GM window sticker.

Over $750 in other items
Other items: HallTech carbon fiber SideWinder with 2 filters - wedge filter & PS1000 race filter w/ chrome ring, deluxe C5 seat covers, Noah indoor - outdoor car cover, AutoTap with OBDII cable.

All for $29,500

 

I got an 01 a few months ago, but my deciding factor was the GMPP that came with the car. My car has already had the rering but I have had about $1200 dollars in other warranty repairs done. I would try to get a car with an extended warranty so you don't have to deal with expensive repairs.

 

Got my 01 with a 5yr/75K mile warranty. Only had to pay the $35 transfer fee. Re-ring will be done this summer once I provide much more evidence. Ruined my cam and a lifter one day because the oil got too low. I watched it all the time, but it ate a lot that day. If you can get some sort of warranty then I wouldn't let it deter you from the 01.

If you want a White Z06 you get an 01 only.

Electron blue is 02 or 03 only.

LeMans blue is 04 only (with stripes usually).

Torch Red, Black, Mill Yellow, Silver in any year Z06.

You can add a HUD setup for $300 like I will be doing in a few weeks time so don't let that little item deter you. Thank you Fred Beans chevy for a great deal. Just need to locate the harness or make my own.

 

Both cars (the 385 or 405 HP) are worthy candidates when considering buying a pre-owned C5 Z06. For me the HUD was important (but one can be added after the fact for around $500), the oil useage issue didn't bother me as many of these cars had the GM re-ring applied, color selection was an issue albeit a minor one for me. What drove me to buy my 03 Z was the same advice I give anyone looking to buy a pre-owned vette. Buy the newest vette you can afford, all things being equal.

So I give you that same advice. Buy the newst Z06 you can afford.

Take your time and shop around, with C5/Z06 prices in decline you may just find you can afford a newer 405HP model, with HUD and the color and mileage you want.

Good luck

 

Take your time and shop around, get what you really want. I started looking around the first of this year, at 99-02 coupes - there are some real bargains on those. The more I looked, I realized what I really wanted was a Z06. I just picked up an 02 Z with less than 12k miles, still under original warranty - for $32,000. Don't know if that's out of your price range or not. I knew I'd regret not spending a little extra now, to get the car I really wanted. Now if this NE Ohio weather would clear long enough for me to actually drive it... Good luck!

 

Having an oil burner made me a bit "sick" about the car... got it re-ringed and it's been fantastic since then.

My opinion is if you want to stay stock get an '02 b/c it has a few better things (intake, exhaust, shocks, little bigger cam), but if you're a modder (I am) then get the one that's a bit cheaper and then put that difference into modding the car.

Honestly... if I had to do it again I'd buy a cheapo '99 FRC and go buck wild with it.

 

I have an '01 Z06, and it has the HUD! That's because forum member Pacethis and me installed it,lol. I think if you find a really good clean and well taken care of '01 and at a good price, then there would really be no reason to steer away from it. I got my Z06 last december and it only had 9500 miles on it, and it was mint. I purchased it for $29,000, and have enjoyed it ever since. I figured once I add all the boltons, then I will be at least 405 and more in power. Right now, I am happy with the power, so I am focusing on appearance mods. Of course if I find a good deal on some performance items, I will be right on them,lol. As for the oil burning issue, I do have a little. I also have a warranty, so with that in mind I will have it reringed under warranty at a later date. Goodluck on your decision.

 

^ What tint is that! Looks

 

Save some more money get an 02

 

Hey folks, (this is a little long, sorry, trying to answer everyone)

Had to take off out of town right after I posted. Had our 1st 2-day autocross for the season. The C4 is still fun but I want more
Besides, I just corded my R-comps so I might as well buy new ones for a Z06 and have them ready. Oh and a C6 showed up and I got a few rides in it. Sweeetttt

Ok so here is what I see as a common opinion. The oil burning on the 01 isn't terrible if you get one with a GMPP so you don't get stuck. That makes good sense. I'll see how many 01/02s I can find that have the extended warranty. I think burning a quart of oil between changes is excessive unless the car is tracked hard. My LT1 with 115K doesn't burn oil. I do 5K oil change intervals w/Mobil 1. I add NO oil to that engine between changes. And it doesn't get babied. I'll also see if I can check as to whether any 01 I look at has already been re-ringed.

Now on the HUD. I drove a C5 with the HUD and it just isn't that exciting a gizmo to me. So I can live with out it. Although the owner of the car told me you'll like it once you get used to it. It won't affect my decision on buying the right car.

As far as color. Ok, the Electron Blue really catches my eye. My92 is bright red. I could be happy with a Red Z06. Black would work also. That's about it for color choice.

Pricing. Well I'd like to stay under $34K. Preferably $30K-$32K. Depends on what I would get for my C4 if it was a dealer trade. I'm open to private sale and selling my C4 privately also. I need to have about $2K left to cover an extra set of wheels and a set of V710s. That will cover the autocross part I want and still have street tires to go to work and a couple of HPDEs.

The thought of getting a cheap 99 FRC and doing it up crossed my mind. Beef up the motor and T1 suspension. But I really don't have the time to build one up now. But I hear ya Cobra.

As far as looking patiently. Yes I most certainly agree. I'm trying to buy with my head, not my heart. I got burned on my 1st C4 and learned my lesson and found my current C4. The market on the C5 and even the Z06 is great for me (the buyer).

I was also told about the steering lock issue and leaking rear diff. But those were the only other things. Everything else ok with these years?

If there are any other things I should check for or any other ideas please keep it coming. This is good stuff. I appreciate the help.

Thanks, Graham

 

I would go with an 02 model, especially one that has an extended warranty. My 01 has had 4 serious warranty issues (I bought a 3 year extended warranty).
Rering - oil consumption fine now
leaking differential seal - OK now
trouble shifting into reverse, would slip out - OK now
innacurate fuel gage, would drop from 1/2 to empty - OK now (this last one was under the extended warranty and would have cost me about $1200.
Any on those repairs would have been very expensive, so I'm a believer in the warranty. I'm not sure if any besides the oil issue are particular to just the 01 model, but if you plan to keep the car a long time, I would avoid an 01, it's just not worth the possibility of an oil issue. I can't believe that it does not start to "gunk" up the engine over a period of time.

 

BUy an 02

there are too many reasons 02 is better than 01.

CAM, EXHAUST, CLUTCH, SHOCKS( non wheel hop), PISTON RINGS, .............

 

I got the 03 cause of the suspension. (they upgraded it in 02+) You also get a few more horses and mine is still under factory warranty

 

Graham,
I can't comment on 01 vs 02, I'm just putting my .02 in because I also have a 92 and an02 Z06. I don't know if you've driven one yet, but compared to the 92 it's incredible!

Good luck with your search. Too bad I have to sell mine an '02 with 4 years on the GMPP for $32k nego.
http://forums.corvetteforum.com/show....php?t=1019981

Jim

 

My advice - if you can, buy an 02 - more power and other things already mentioned. Also - wait till the new Z06 comes out, and the price of 02s will be so low that it will fit into your budget!!

 

My tint is 15% all around! Thanks