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Opinions are just that,but since that's what you asked for.It's your money,spend it as you see fit.If I were you though,I would keep looking.
NOBODY wants a repainted Corvette,especially one you paid top dollar for.For $40k,that car should be mint,everything factory with very low miles.Trust me,you are paying for your trade,it's just rolled into the price of this car.At your age a $600 or higher monthly car payment is gonna get real old real fast.Especially if the car isn't 100% what you want.Listen to those that have already replied and keep looking.Best of luck to you.
I also had a 79 elcamino with a built 350 with a built turbo 400 so I'm ok on the power side, I'll just ghave to get use to the cornering and launching a high power stick. I wish there were some autocross class near me and what is hpde? I'll definately look into them and see if I can't possibly find something close by. I should invest in a v1 or something for the 1200 mile trip back from OK, lol.
There probably is autocross around you. SCCA Solo 2 is everywhere. Where do you live? I can look it up for you.
HPDE I believe stands for high performance driver's education. Either way, first time out an instructor goes with you for a few hours on the track and teaches you how to handle your car on a road course. There's also some classroom segments. It's usually $250-$300. The next time out you just get track time. It's not wheel-to-wheel racing.
if you like the car, that is all that matters. not the best of deals though. i kinda like the stripes. its different. not saying i would do it to mine, but it is different.