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There are their pluses and negatives to lowering it. Mines lowered and its great. There are those few times when you'll bottom.(worst sound in the world, to your baby) but i think it looks better and sleeker.
Do a search, there are a ton of posts about lowering and peoples experiences. Cutting bushings, using stock equipment, handling, road feel, etc.
I just did mine a couple weeks ago with stock equipment to close up the wheel well gap after getting new tires/rims. I love it, no noticable ride quality issues. The only real issue I've had is scraping a speed bump (last night), but I've got a set of A&A frame savers waiting to go on for just such and emergency.
Mines lowered on stock bolts and I love it. I'll never go back. But I also live in Florida where the roads are pretty flat. I've never bottomed out. The most I've done is scrape the plastic spoiler under the nose a few times. It looks so much better and I didn't notice any difference in the ride. I have Z51 suspension. Don't know what difference it would make with another.
Mine is lowered as far as she'll go on stock bolts (and I'm considering removing the front bolts altogether to get a little lower up front). Only place I scrape is pulling out of the driveway -- but as long as I find the right angle and take my time it's no big deal. I won't go back to stock height for sure.
Just lowered mine and I like the looks. I could not tell any difference in the ride but it closes up those fenderwells very nice. The front was a pain, I must say, but now that I have done it, it will be easy to do again. live and learn. Make sure you use a jack to take pressure off the front spring, or you will never get the bolt to turn. On mine on of the front bolts was stripped, so it took a lot of work to fix it. Spray the front and rear bolts with wd40, top and bottom, and let soak for a while. It will make it much easier to adjust the bolts. If I knew what I know now, I could lower a vette in less than an hour, with no problems.
I have gone down on the stock bolts as far as I can, and the car looks much better. I don't scrape any more than before, since the car is only about 3/4" to 7/8" lower tham before. I have gotten used to the look, and was amazed at a Corvette show yesterday how high some of the stock cars really are. Mine was never that high! I saw one car with close to 5" of gap between the top of the tire and the bottom of the front fender well. Larger tire and wheel combinations give the effect of a lowered car without any negatives.
In some parts of the country, it might be beneficial to raise the height of the car.
I am jsut glad GM made it adjustable, and easy. I had to buy new springs to get my Q45 lowered, and the ride is more harsh, due to the spring travel. It also took me close to 4 hours to remove all the struts, and replace the springs. It took me about 20 minutes to lower the Vette, and that inlcuded removing the tires.
Another lowered on stock bolts. It just makes the 'Vette look so much better. The bottoming out is not that bad but you will scrape the black plastic under the nose, no biggie. Just do it you wont regret it.
Yes, lower your car and get rid of that 4x4 look. But be warned, after you lower it, (yes, even just on the stock bolts) you MUST have it realigned...unless you just like buying tires.
I think the "waxers" typically lower their cars for cosmetic reasons. I drive my car aggressively and it would be a horrible experience to have it lower. Driving on the curbing at Hallett would destroy the rockers in a heartbeat. Hammering the car on the street would also result in an ugly undercarriage and rockers. And yes, I have A&A rocker protectors.
I don't think I'll ever figure out why people lower. I personally don't like "low riders" but that's just me. I drive the car too hard to lower. Drive it like you stole it.......