Corvette Purchase Advice Please
Thread Starter
Advanced
Joined: Aug 2011
Posts: 93
Likes: 1
From: Georgia
Corvette Purchase Advice Please
I need some advice from people who know, so I came to this forum.
I have always wanted a Corvette, and I have finally found a C5 2002 convertible. It has 55k verified original miles, but has been in a accident back in 2003.
Carfax says that the title is rebuilt, but the title on the car is free and clear because in the state of Georgia after the car is fixed back to factory spec, someone inspected it, and issued a clear title.
I spoke with the body shop today who fixed the car back in 2003 and they remember it being put back to factory specs. (A friend of mine actually painted the car). The owner has driven it since then with no problems.
One problem is the gas gauge (common problem I have read about) and the air bladder in the driver seat is messed up (both I think can be fixed without any problem)
Owner has told me to have it inspected by a local body shop which I intend to do.
My question is this.. is the car worth 15k?
To be honest, it's within my price range to get a nice car with low miles but is or should the rebuild a deal breaker?
Thanks in advance for any help.
I have always wanted a Corvette, and I have finally found a C5 2002 convertible. It has 55k verified original miles, but has been in a accident back in 2003.
Carfax says that the title is rebuilt, but the title on the car is free and clear because in the state of Georgia after the car is fixed back to factory spec, someone inspected it, and issued a clear title.
I spoke with the body shop today who fixed the car back in 2003 and they remember it being put back to factory specs. (A friend of mine actually painted the car). The owner has driven it since then with no problems.
One problem is the gas gauge (common problem I have read about) and the air bladder in the driver seat is messed up (both I think can be fixed without any problem)
Owner has told me to have it inspected by a local body shop which I intend to do.
My question is this.. is the car worth 15k?
To be honest, it's within my price range to get a nice car with low miles but is or should the rebuild a deal breaker?
Thanks in advance for any help.
Racer
Joined: Apr 2011
Posts: 415
Likes: 1
From: british columbia
I would ask for a copy of the repair bill so you can see what was done and how badly it was damaged, they can get a rebuilt title for cars that have been damaged fairly mildly, so it maybe a good car.
Look really hard at door seams, hood seams etc, inside everything, see if everything still looks lined up.
If its been hit really hard I would pass, theres lots of cars out there, don't buy something you may regret later, especially for a first Vette.
Get the alignment checked and have an independant body shop or corvette dealer check it out, its worth spending a little money on it for peace of mind, and if it passes, and you like it buy it !
Good luck!
Look really hard at door seams, hood seams etc, inside everything, see if everything still looks lined up.
If its been hit really hard I would pass, theres lots of cars out there, don't buy something you may regret later, especially for a first Vette.
Get the alignment checked and have an independant body shop or corvette dealer check it out, its worth spending a little money on it for peace of mind, and if it passes, and you like it buy it !
Good luck!
Drifting
Joined: Aug 2006
Posts: 1,694
Likes: 0
From: Oregon
Somewhere, someone will always find the "Title Issue". Most likely your insurance co or, if you should ever sell it, the next guy that runs a carfax will have serious doubts.. Myself, I would PASS and keep looking. $15k is high right now anyway and way too high for one with a branded title issue, even if it was cleared by DMV. . The C-5 market is soft and there are quite a few out there for sale.. Just my opinion.. Good luck.
Instructor
Joined: Feb 2011
Posts: 126
Likes: 1
From: Corpus Christi Texas
I agree... $15K seems a little high for previously wrecked 2002, unless the damage was reasonably minor and the car is exceptionally clean. I would always worry that cosmetics had covered up something I missed seeing.
When I was shopping for mine last February, I was offered a 2003 coupe with 65K miles that didn't have a ding or blemish on it anywhere, for $16,500. The only things I could find wrong with it were a missing radio ****, and a small seam starting to come apart on the drivers seat. I passed on it because I found a 2004 that I liked better.
When I was shopping for mine last February, I was offered a 2003 coupe with 65K miles that didn't have a ding or blemish on it anywhere, for $16,500. The only things I could find wrong with it were a missing radio ****, and a small seam starting to come apart on the drivers seat. I passed on it because I found a 2004 that I liked better.
Burning Brakes
Joined: May 2005
Posts: 945
Likes: 23
From: Uniondale IN
St. Jude Donor '14-'15-'16
How many miles have been put on the car since it was rebuilt? Have they been trouble free miles? Do you plan on keeping it a long time? These are some of the things I would need to know before buying this car. IMO 15000 is a little high for a rebuilt car. 
Drifting
Joined: Aug 2009
Posts: 1,828
Likes: 14
Keep Looking
While the car may be fine it will always have a bad rap because of the title. Like so many have said, the market is soft, keep looking and find one that hasn't been in an accident and is within your budget. Good Luck
Rass Claat Viper
Joined: Sep 2007
Posts: 816
Likes: 9
From: Aldie, VA
That price is a tad high my friend. If you are dead set on a convertible, there are deals to be had for under 15k. If you are patient one of the valued members here may be willing to part with theirs, along with all the receipts, mod lists and dyno sheets, your little heart may desire. On a side note, I was saving up for a Viper (still am) when I got a sweet deal on my 'Vette. Don't rush it.
Burning Brakes
Joined: Jun 2008
Posts: 916
Likes: 1,207
From: Beavercreek Ohio Currently own: 1958 Silver Blue Corvette & 1969 Riverside Gold Corvette Coupe
2025 C1 of the Year - Unmodified Finalist
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According to auto trader.com there is only 1 2002 vert with < 75k miles listed for under $19k in the USA. The other 64 range from $19.5 To $28k.
$15k is a VERY GOOD PRICE!!!
$15k is a VERY GOOD PRICE!!!
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Thread Starter
Advanced
Joined: Aug 2011
Posts: 93
Likes: 1
From: Georgia
Guys
Thank you so much for your input.
I just got off the phone with the original owner who had the car fixed.
He fixed it in 2003 with 16k miles.
The car has 55k miles on it now.
I can't find a vert this cheap anywhere else, and I have looked.
I am having an independant body shop man look at the car tomorrow to give his opinion about how the work was done.
I guess after driving the car, and getting his opinion I will have to make a decision.
Would everyone give me an idea of what kind of offer you would make in order to make this a good deal?
Thank you so much for your input.
I just got off the phone with the original owner who had the car fixed.
He fixed it in 2003 with 16k miles.
The car has 55k miles on it now.
I can't find a vert this cheap anywhere else, and I have looked.
I am having an independant body shop man look at the car tomorrow to give his opinion about how the work was done.
I guess after driving the car, and getting his opinion I will have to make a decision.
Would everyone give me an idea of what kind of offer you would make in order to make this a good deal?
Drifting
Joined: Apr 2011
Posts: 1,454
Likes: 6
From: Pittsburgh PA
I been looking all summer and have not seen any of these super deals everyone here talks about. Checking finished listings on ebay, 15 seems about what clean lower mile 99 Verts are going for. This is three years newer.
As far as the title issue, I'm biased in that respect since I build them. We have three R Title cars right now and another soon to be for sale. The prices they bring at salvage auction sugests a lot of people want them. If I had a clean 02 I would figure a 4 thousand dollar savings to be attractive to someone.
I agree to check it out really well and knowing what was fixed would be good. But thinking it can be stolen for 9 or 10 grand because of the title is unrealistic IMO.
BTW, don't always count on a Carfax. All accidents don't get into their database. They get most of their info from police reports. So someone could drive off the road and tear the crap out of the car but still drive it home. Dealers love Carfax cause if it comes back clean they can jack the price to the roof.
Pro
Joined: Mar 2010
Posts: 691
Likes: 19
From: Los Angeles
I wouldn't touch it. I need to know that everything is right on a car that will most likely see 150+ mph.
I feel the same way about bikes. If its been laid down once, its junk. My life is too valuable to save on things like this.
On the other hand if you don't care about resale value, and just plan on putting around and showing off in town, try to get them to drop the price a little and have fun with it.
I feel the same way about bikes. If its been laid down once, its junk. My life is too valuable to save on things like this.
On the other hand if you don't care about resale value, and just plan on putting around and showing off in town, try to get them to drop the price a little and have fun with it.
Pro
Joined: Dec 2009
Posts: 719
Likes: 2
From: Columbia South Carolina
I been looking all summer and have not seen any of these super deals everyone here talks about. Checking finished listings on ebay, 15 seems about what clean lower mile 99 Verts are going for. This is three years newer.
As far as the title issue, I'm biased in that respect since I build them. We have three R Title cars right now and another soon to be for sale. The prices they bring at salvage auction sugests a lot of people want them. If I had a clean 02 I would figure a 4 thousand dollar savings to be attractive to someone.
I agree to check it out really well and knowing what was fixed would be good. But thinking it can be stolen for 9 or 10 grand because of the title is unrealistic IMO.
BTW, don't always count on a Carfax. All accidents don't get into their database. They get most of their info from police reports. So someone could drive off the road and tear the crap out of the car but still drive it home. Dealers love Carfax cause if it comes back clean they can jack the price to the roof.
Thread Starter
Advanced
Joined: Aug 2011
Posts: 93
Likes: 1
From: Georgia
I have been on ebay, traderonline and craigslist most of the day today researching these cars as well.
I did find a 2001 vert for 17k, but it has 92k miles.
I think the year newer and 40k less miles is more something like I am looking for.
I have never bought a car with a R title, but for 4k off the going price, I think I may jump if it gets a good report from the body man tomorrow.
FenderMender.... what couple of things would you suggest that I look out for especially since you know Corvettes well.
I know now from more research about this car that it was fixed by a local Chevy dealership back to factory specs. I got that information from someone I really trust who works in that body shop. he painted the car and remembers painting it.
He also told me that only the frame "horn" had to be straightend very little. That was the only frame work done on the car.
Can someone tell me what a (frame horn) is as far as body work goes.
I did find a 2001 vert for 17k, but it has 92k miles.
I think the year newer and 40k less miles is more something like I am looking for.
I have never bought a car with a R title, but for 4k off the going price, I think I may jump if it gets a good report from the body man tomorrow.
FenderMender.... what couple of things would you suggest that I look out for especially since you know Corvettes well.
I know now from more research about this car that it was fixed by a local Chevy dealership back to factory specs. I got that information from someone I really trust who works in that body shop. he painted the car and remembers painting it.
He also told me that only the frame "horn" had to be straightend very little. That was the only frame work done on the car.
Can someone tell me what a (frame horn) is as far as body work goes.
Pro
Joined: Jul 2011
Posts: 567
Likes: 17
From: Lodi Ca.
I recently (last november) bought an 03 Anni for 25,000. with 26,000 miles. i found out after I bought it that it had been in a wreck but the car fax didn't show that. Jeff Mc Grovern who is detailing my other car right now confirmed that the door had been repainted but who knows how much damage had been done without a good report to look at. If I would have known that I may or may not have bought it pending on how much damage. Still love the car
Safety Car
Joined: Sep 2005
Posts: 4,057
Likes: 99
From: Southeast, Tennessee
St. Jude Donor '09 thru '26
you'd be surprised how many nice clean cars are out there.
Drifting
Joined: Apr 2011
Posts: 1,454
Likes: 6
From: Pittsburgh PA
I have been on ebay, traderonline and craigslist most of the day today researching these cars as well.
I did find a 2001 vert for 17k, but it has 92k miles.
I think the year newer and 40k less miles is more something like I am looking for.
I have never bought a car with a R title, but for 4k off the going price, I think I may jump if it gets a good report from the body man tomorrow.
FenderMender.... what couple of things would you suggest that I look out for especially since you know Corvettes well.
I know now from more research about this car that it was fixed by a local Chevy dealership back to factory specs. I got that information from someone I really trust who works in that body shop. he painted the car and remembers painting it.
He also told me that only the frame "horn" had to be straightend very little. That was the only frame work done on the car.
Can someone tell me what a (frame horn) is as far as body work goes.
I did find a 2001 vert for 17k, but it has 92k miles.
I think the year newer and 40k less miles is more something like I am looking for.
I have never bought a car with a R title, but for 4k off the going price, I think I may jump if it gets a good report from the body man tomorrow.
FenderMender.... what couple of things would you suggest that I look out for especially since you know Corvettes well.
I know now from more research about this car that it was fixed by a local Chevy dealership back to factory specs. I got that information from someone I really trust who works in that body shop. he painted the car and remembers painting it.
He also told me that only the frame "horn" had to be straightend very little. That was the only frame work done on the car.
Can someone tell me what a (frame horn) is as far as body work goes.
First off I am no Corvette expert. I was simply relating my experiances with looking at prices. I agree the market may shift some with seasons but we are upon Labor Day and I'm still not seeing these bargain deals. Only cars I see cheap are 100thou plus or have history issues such as this. I suppose if you happen to stumble across someone who is having their house forclosed in January, that could work.
Frame horn is a slang term for the front section that the bumper bar bolts to ahead of the crossmember. The description you have been told would mean that nothing rearward was moved that would effect the location of the suspension pickup points. In other words no damage that would effect the steering, handling, tire wear ect.
The fact that you actually know a person involved in the repairs should add confidence. Plus the car has obviously covered a lot of ground since the repairs. You could inspect the frt section of the frame on a lift. Look for proper alignment of the body panels and paintwork. A 4 wheel alignment will show up any issues with the placement of the suspension points.
Good luck. Car sounds like a repaired version of the one I've been trying to get.
Race Director
Joined: May 2010
Posts: 16,574
Likes: 13
From: Winfield IN
Somewhere, someone will always find the "Title Issue". Most likely your insurance co or, if you should ever sell it, the next guy that runs a carfax will have serious doubts.. Myself, I would PASS and keep looking. $15k is high right now anyway and way too high for one with a branded title issue, even if it was cleared by DMV. . The C-5 market is soft and there are quite a few out there for sale.. Just my opinion.. Good luck.
You will find out if you ever have to sell it, that once a title is branded like that, practically nobody wants it. Unless you can talk the guy down and you can get the car for an absolute steal, 12-13k, I would pass.
Drifting
Joined: Aug 2006
Posts: 1,694
Likes: 0
From: Oregon
