Hey guys,

My son-in-law is looking at a '01 6sp vert with 75,000 on her.
Original owner asking $16,995. I'm told it appears to be in great condition.
Good price? I've heard of some minor electrical issues with the C5 but any items in particular to look out for?

Thanks,
Jerry

 

First off, that price seems a little low for a roadster. As for issue, there ids the column lock, so see if that has been taken care of and if not there is a device you can purchase that will eliminate it. the grounds have a tendency to get corroded and will cause error messages, Also the is the issue with the fuel level sensor that will give you a low fuel warning even if the tank is full, but it is an easy fix, just ad a bottle of Techtron to the fuel. Also the '01 were known for oil consumption like a quart every 5000 mile or less on some.

 

Thats a great price.
Pull the codes an come back an tell us what they are.

http://www.stengel.net/diccodes.htm

 

Sounds like a decent price to me. If you'd like a Corvette Buyers Checklist, PM me your e-mail address and I'll send it to you.

 

Sounds likes good price.
I got $23,145 from the insurance company, when hurricane Irene drowned my '01 6 spd coupe. I had 42,000 miles on it and new Michelin run flats.

 

It sounds like too good of a price.

 

PM Sent-thanks!

 

 

paid $14,500.00 for mine in northern California with 71,000 miles I replaced the stock thin spoke (lots of curb rash) with the C6-Z06 wheels shown I'm thinking throw out a number and buy it

 

sorry, but I dont think that is a good price at all, not a 12+ y/o car with 75K miles on it and . First, the car is worth about $12,500 wholseale, and even less than that blackbook

2cnd, I wouldnt even buy a 75K mile corvette. Too many miles for that kind of car (JMO).

It is widely known that all cars experience dips at certain miles. 64K is one of those threshholds and this car has well surpassed that and its a corvette to boot. Sorry, not trying to bash a C5 as I am a current C5 owner but I would try to find a Corvette in the 35k-40K mile range and pay around $20k for it.

Look it up on EDMUNDS True Market Value (which is still inflated a bit on what a car is really worth in the market) and you will see a 2004 Corvette Convertible with as little as 35K miles is worth $20K in the market. Forget about what you see on line or what dealesr or owners are trying to sell the car for.

A very high mileage corvete will cost you in MBI insurance as well. Lower miles will give you a wider selection in the Insurance market for repairs (and dont even think about getting one without a warranty of some sort) Low miles alone may save you $1K a year for warranty coverage compared to a $75K mile car (remember that mileage threshold I was talking about as Warranty companies really factor this in)

 

Mostly incorrect from start to finish. The value of any car is dependent upon the care and maintenance and not JUST the mileage. To lump all into a large bucket is not the way to go. If it is a nice convertible with good history and care, the price is very good. You can find cars that are cheaper, and you'll find that's what they're worth and there's a reason for that. I haven't seen the car in question and no one can give you an answer to whether the car is worth the money without seeing it.

 

lol

 

I disagree as well.

Edmunds would show the value around 16K, KBB and NADA as well as Motor Trend and many others show the value around 14K-18K for trade in and consumer resale around 24.5K, assuming that mileage. Values of Corvettes have rebounded since around 08-09.

Average resale value is $17.3K.

Condition and how it was maintained are the excellent condition vehicles.

That 70K mile range is still considered low mileage.

 

If it feels good to you, go for it. I've been shopping for a C5 for the past month, and in my area, this would be a very good price. Offer $16K and drive home a winner. Good luck!

 

Got my 2000 6spd Vert in janurary for $17k with 59k miles on it

 

Wow.

To the OP: If everything checks out on the car, that is a great price for a vert IMO.

 

01's have been known to burn oil, especially the 6spds..I bought used, a 99 over seven years ago..doesn't burn a drop of oil..some will tell you a qt is normal between oil changes but I don't buy it..

 

Not a bad price if it's clean and taken care of. I enjoy my 01 and with general care it's very problem free.

 

I bought my 2001 Navy Blue convertible about a year ago. It had perfect paint, garage kept and had the light oak canvas top and light oak interior. No issues with perfect seats and interior. It had 66,000 miles. I bought it for $19,000 from the owner. I was happy.

PS: Has the HUD and 12 CD changer but not the special handling package (forget the designation Z51????)

 

Guys, I know we all want to think that our 10-12 Y/O C5’s are worth a bundle but the fact is a 2001 C5 vert with 75K miles on it is worth $12,500 at most in the market. In other words, if you had this car yourself and you had to liquidate all your assets for cash, a dealer would give you no more than $12,500 straight cash for the car (if you are lucky)

So if you buy this car for $16,500, you are paying approx 33% more than what The car is actually worth. Again, I personally would not buy a 75K mile C5. That in no way is a low mileage car, not for a corvette anyway. But If I am forced to buy a 75K corvette that is over 12 years old, my max price on it would be $14,750-$15K and that’s allowing the dealer plenty of $$$ to put it in selling condition.

How well you take care of the car doesn’t roll the miles or the clock back on a car. Trying to convince the dealer its all "highway" miles wont convince the dealer to give you more cash for it either. Caring for a car only means you get to claim the high side of what the market says its worth

Look, at the end of th day there is no right or wrong. A car will sell for what the market will bear and you buy what makes you feel good. But when I buy, I try to use a little financial sense on the purchase and that means I try to pay as little as possible over what the car is truly worth in the market. Typically, a cars value can be seen at auctions (aka auction price), which is less than Wholesale. Try to Allow no more than $2K-$2500 above wholesale (I never pay retail price for a car) and that will be a smart decision. Below is what this car is worth wholesale at the most