[Z06] Considering a C5Z--wanted some pro advice
Thread Starter
Heel & Toe
Joined: Mar 2011
Posts: 23
Likes: 0
From: Mooresville sc
Considering a C5Z--wanted some pro advice
Hey guys, I've been lurking for a while just researching cars and trying to decide if a z was right for me, this forum has been a fantastic resource and I really appreciate all of the great info available. Now that I've found a car I'm considering buying, I wanted to get you guys' opinion on whether it sounded too good to be true or was just a smokin' deal.
Here are the specs on the car:
01 z
Red (victory red? Not sure on the 01 color names yet) with black interior, non-2-tone.
40,0xx miles
Only mods are slp loudmouth and a k&n
Clean carfax
No oil consumption issue based on records
Leaky rear half shaft seal replaced under warranty @1500 miles
No column lock issue BUT not disabled.
Front splitter in great shape, detailed 1x/month, washed 1x/week, garage-kept.
I can pick it up for 17.5k.
Like I said, does this sound too good to be true? I was expecting for this to be a 22k+ car...The owner is moving and is thus a little hungry, but still?
I'll try to get pics asap, but it's pretty much spotless.
Here are the specs on the car:
01 z
Red (victory red? Not sure on the 01 color names yet) with black interior, non-2-tone.
40,0xx miles
Only mods are slp loudmouth and a k&n
Clean carfax
No oil consumption issue based on records
Leaky rear half shaft seal replaced under warranty @1500 miles
No column lock issue BUT not disabled.
Front splitter in great shape, detailed 1x/month, washed 1x/week, garage-kept.
I can pick it up for 17.5k.
Like I said, does this sound too good to be true? I was expecting for this to be a 22k+ car...The owner is moving and is thus a little hungry, but still?
I'll try to get pics asap, but it's pretty much spotless.
Racer
Joined: Sep 2009
Posts: 414
Likes: 1
From: CT
The fact that he's moving may justify the price a little. I paid around 20k for my 02 z06 over a year ago and it had around 70k miles although it was in pristine condition and currently a year and a half later im still on the same stock clutch...the car was very well maintanined and not abused etc. So the fact that its an 01 with 40k in great shape seems it could be reasonable...
Instructor
Joined: Sep 2010
Posts: 179
Likes: 0
From: The USA Rocky Mountain Area
Jump on it - sounds like a nice car for the price. Have you seen it, driven it, spoken to the owner etc.
Make sure it is not a Nigerian Scam on Craigslist and the owner is in the military assigned in England or whatever.
Don't get scammed.
Make sure it is not a Nigerian Scam on Craigslist and the owner is in the military assigned in England or whatever.
Don't get scammed.
Thread Starter
Heel & Toe
Joined: Mar 2011
Posts: 23
Likes: 0
From: Mooresville sc
I have seen it twice in person and unless the guy is a very good scammer he seems legit, he's been very sensitive to the fact that handing over a large stack of cash like that takes a lot of trust so since he has a lien on the car he and I are trying to figure out the best way to make sure that I'm comfortable with where my money is going by working with our respective banks to conduct the deal. Now that I mention it, has anyone else bought a car with a lien on it? I'm still trying to wade my way through what I'm going to need to do there...I'll be effectively paying "cash" i.e. not transferring the loan so maybe I just contact his lien holder and they send me the title after payment?
Last edited by FormulaZ06; Mar 21, 2011 at 04:04 PM.
Race Director
Joined: Dec 2004
Posts: 14,358
Likes: 1
From: Medford NJ
Sounds like a pretty decent deal, and sounds like you have done your homework. I bought a '02 Z w/ 29k miles for $22k from a dealer about 2 years ago as a frame of reference. That price is a little low but not surprisingly low based on his circumstances. I'd at least have an independent mechanic look at it that knows Vettes. A GM dealer can also run a service history - I got one from Gene Kelly here on the forum. I have had a mechanic look at every car I have bought.
Have you driven it or looked at it? When you do, run the codes on the DIC, and check out the regular wear items like tires, brakes, clutch, shifting, etc. If any of those are needing replacement that could explain a couple thousand less of an asking price.
Good luck.
Have you driven it or looked at it? When you do, run the codes on the DIC, and check out the regular wear items like tires, brakes, clutch, shifting, etc. If any of those are needing replacement that could explain a couple thousand less of an asking price.
Good luck.
Instructor
Joined: Sep 2010
Posts: 179
Likes: 0
From: The USA Rocky Mountain Area
Yes I did that, there was a lien on my Z when I bought it.
Let your bank call his bank and let them figure out the finer details and pay off balance and all that.
Your bank can then give you two checks, one to pay off the loan and one for the balance to the seller. Or, they can give you one check made out to the bank and his bank will deposit the remainder into his account aafter paying off the loan.
The sellers bank should give you the title immediatly, or, send it to your bank if you take a loan.
Get a bill of sale, copy of title and the keys, shake hands.
Done deal, its not a problem !
Ride away in your new Z with a BIG grin.
Let your bank call his bank and let them figure out the finer details and pay off balance and all that.
Your bank can then give you two checks, one to pay off the loan and one for the balance to the seller. Or, they can give you one check made out to the bank and his bank will deposit the remainder into his account aafter paying off the loan.
The sellers bank should give you the title immediatly, or, send it to your bank if you take a loan.
Get a bill of sale, copy of title and the keys, shake hands.
Done deal, its not a problem !
Ride away in your new Z with a BIG grin.
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Race Director
Joined: Dec 2004
Posts: 14,358
Likes: 1
From: Medford NJ
Yes I did that, there was a lien on my Z when I bought it.
Let your bank call his bank and let them figure out the finer details and pay off balance and all that.
Your bank can then give you two checks, one to pay off the loan and one for the balance to the seller. Or, they can give you one check made out to the bank and his bank will deposit the remainder into his account aafter paying off the loan.
The sellers bank should give you the title immediatly, or, send it to your bank if you take a loan.
Get a bill of sale, copy of title and the keys, shake hands.
Done deal, its not a problem !
Ride away in your new Z with a BIG grin.
Let your bank call his bank and let them figure out the finer details and pay off balance and all that.
Your bank can then give you two checks, one to pay off the loan and one for the balance to the seller. Or, they can give you one check made out to the bank and his bank will deposit the remainder into his account aafter paying off the loan.
The sellers bank should give you the title immediatly, or, send it to your bank if you take a loan.
Get a bill of sale, copy of title and the keys, shake hands.
Done deal, its not a problem !
Ride away in your new Z with a BIG grin.
The only thing I would add is have the bill of sale notarized. Most banks have a notary in house.
Thread Starter
Heel & Toe
Joined: Mar 2011
Posts: 23
Likes: 0
From: Mooresville sc
checked the tires, rotors, pads, clutch and break fluid and all seemed great--the car was sold at a dealership just 5 months ago and the owner's only put about 2500 miles on it since purchase so everything is still very fresh. The owner was uncomfortable with letting me drive it as a previous test driver had taken him for a ride and he was thus gunshy about the idea, but I have taken it for a parking lot lap and everything feels fine. I think now that I've made an offer and he's agreed to it I could probably talk him into letting me drive. At the end of the day, I'm beginning to feel more and more like he just needs to get out of the car so he doesn't have to try to get it moved.
I just contacted the local corvette club to see if they could recommend a shop familiar with c5Z's--do you guys have any recommendations in the Charlotte NC area?
I just contacted the local corvette club to see if they could recommend a shop familiar with c5Z's--do you guys have any recommendations in the Charlotte NC area?
Le Mans Master
Joined: May 2007
Posts: 5,393
Likes: 17
From: Belleville Mich.
Piper250 has given you the best info in regards of taking care of the financing.
Do every thing, right there @ your personal bank.
Call your Ins Co from the bank & make sure you have full coverage.
Prior to date of purchase go to the Sec/State & run every thing by them to see the proper way to get the plates.
Good luck.
Do every thing, right there @ your personal bank.
Call your Ins Co from the bank & make sure you have full coverage.
Prior to date of purchase go to the Sec/State & run every thing by them to see the proper way to get the plates.
Good luck.
Last edited by bumble-z; Mar 21, 2011 at 06:07 PM.
Instructor
Joined: Sep 2010
Posts: 179
Likes: 0
From: The USA Rocky Mountain Area
You can also get the VIN and run a CARAFAX to make sure that it isn't a rebuilt, salvaged, flood, significant damage or had an odometer roll back.
It's not fool proof but gives an added measure of knowing what you are buying and getting into.
I also am not going to give anyone test "rides" in my Z. They can ride it after I have the check and they have paid for it especiially since I only carry liability insurance.
It's not fool proof but gives an added measure of knowing what you are buying and getting into.
I also am not going to give anyone test "rides" in my Z. They can ride it after I have the check and they have paid for it especiially since I only carry liability insurance.
Thread Starter
Heel & Toe
Joined: Mar 2011
Posts: 23
Likes: 0
From: Mooresville sc
since I'm sure the this-thread-is-worthless-without-pics rule applies around here too, here are some shots of the car...a mix of his ad and some he's sent to me, sorry for the resolution mismatch
Burning Brakes
Joined: May 2010
Posts: 1,167
Likes: 2
From: Pittsburgh Pa
I just bought my 02 z06 with 50k for 17.5k from a member on here. Car has AR Headers, xpipe, vararam, short shifter, C6Z ****, slotted rotors, new R888's and some other stuff. The deals are out there and are legit.
Thread Starter
Heel & Toe
Joined: Mar 2011
Posts: 23
Likes: 0
From: Mooresville sc
Yes I did that, there was a lien on my Z when I bought it.
Let your bank call his bank and let them figure out the finer details and pay off balance and all that.
Your bank can then give you two checks, one to pay off the loan and one for the balance to the seller. Or, they can give you one check made out to the bank and his bank will deposit the remainder into his account aafter paying off the loan.
The sellers bank should give you the title immediatly, or, send it to your bank if you take a loan.
Get a bill of sale, copy of title and the keys, shake hands.
Done deal, its not a problem !
Ride away in your new Z with a BIG grin.
Let your bank call his bank and let them figure out the finer details and pay off balance and all that.
Your bank can then give you two checks, one to pay off the loan and one for the balance to the seller. Or, they can give you one check made out to the bank and his bank will deposit the remainder into his account aafter paying off the loan.
The sellers bank should give you the title immediatly, or, send it to your bank if you take a loan.
Get a bill of sale, copy of title and the keys, shake hands.
Done deal, its not a problem !
Ride away in your new Z with a BIG grin.