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Interested in purchasing a '04 Vette

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Old Jul 1, 2014 | 12:05 AM
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Default Interested in purchasing a '04 Vette

So I'm new to the world of corvettes, leaving the realm of crotch rockets. I've owned several bikes, and I've finally convinced myself to get a corvette.

The corvette I'm looking at is a '04 corvette with the LS1 (non-z06 version) with an auto transmission. It's sitting at 84k miles. He's asking $14k. As far as performance mods go, it has a full magnoflow exhaust which was installed by the prev owner. Other than that, it looks pretty much stock.

The bad:
It has a rebuilt title which he said was due to the prev owner damaging the front right wheel fender (it's all been fixed). Also, the ABS and traction control lights are on, on the display (I assume that this means that both are dysfunctional?). On top of that, it says service engine, service ABS, service traction control, on the notification thing on the display (I think this is all due to the ECBM?).

I'll obviously be talking him down a grand or two, but in terms of this sale, what do you guys think? (Please keep in mind, I'm a newbie when it comes to cars, I'm more motorcycle-oriented than cars )

Thanks!

Last edited by Indecisive; Jul 1, 2014 at 12:10 AM.
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Old Jul 1, 2014 | 12:31 AM
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I would never buy a car with check engine lights on, but thats just me. I feel its a reflection of how a car was maintained. The owner isnt even willing to have the car serviced to get the lights off before selling it? I wouldnt buy it. 84k miles is tempting though.
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Old Jul 1, 2014 | 12:34 AM
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Originally Posted by ascastil
I would never buy a car with check engine lights on, but thats just me. I feel its a reflection of how a car was maintained. The owner isnt even willing to have the car serviced to get the lights off before selling it? I wouldnt buy it. 84k miles is tempting though.
The owner literally put on 400 miles since he got it. He's not a car guy at all. He took in the car as part of a renovating deal that costed upwards of $30k. The corvette was just thrown in to lower the price.

The check engine light is not on, it just says service this, service that, at the bottom of the dash board. It switches from "Service engine" to "service ABS" to "service traction control" at the bottom of the dash board. The only lights that are on is the ABS light and tract control light.
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Old Jul 1, 2014 | 12:37 AM
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I personally wouldn't buy a car with a rebuilt title unless it was very, very cheap. And I agree with the previous poster about not getting it with the warning messages being fixed. Could be a bad battery, but would want that checked before making any decision.
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Old Jul 1, 2014 | 12:57 AM
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Lots of others on the market and without a rebuilt title. I wouldn't bother with that one.

FYI- if it is a LS1 it won't be a Z06. They all received the LS6.
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Old Jul 1, 2014 | 01:35 AM
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Probably best to walk away from this one mainly because of the rebuilt title. If that is not a concern to you (read resale), then it might be worth another look. Depending on what codes come up, the EBCM can be rebuilt.
Here is how to get the codes

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Old Jul 1, 2014 | 01:52 AM
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Actually, I just asked the guy for the VIN # to see how much it'd cost to insure it. I decided to google the VIN and this is what I found haha...


He told me just the right front part of the car was damaged "a little". Anyways, this is how it looks now:


The previous owner did all the repairs. I think walking away from this one will be best haha
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Old Jul 1, 2014 | 02:04 AM
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Ouch, thats a lot of damage!!
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Old Jul 1, 2014 | 02:37 AM
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I would pass on this one. You'll have a hard time when trying to sell later. Plenty of other C5's out there in better shape with clean titles and no issues. Check cars.com to see what's in your area.
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Old Jul 1, 2014 | 08:23 AM
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LOL. An 04 auto coupe with those miles could be had for 14K with a clean title, let alone a rebuilt one with history like that.
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Old Jul 1, 2014 | 08:33 AM
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Originally Posted by Indecisive
Actually, I just asked the guy for the VIN # to see how much it'd cost to insure it. I decided to google the VIN and this is what I found haha...


He told me just the right front part of the car was damaged "a little". Anyways, this is how it looks now:


The previous owner did all the repairs. I think walking away from this one will be best haha
I was going to encourage you to go forward until I saw that photo. You're not going to find a good C5 at the price he's quoting unless it has well north of 100,000 miles on it; but the chance of that car having serious engine problems because of the accident is high. I'd walk away.
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Old Jul 1, 2014 | 09:50 AM
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Don't walk...RUN away from that thing. That was a HARD hit clearly.

As others have already said, I wouldn't mess with a salvage title car unless you're talking $4k - $6k or so. Just not worth the hassles that come with that.
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Old Jul 1, 2014 | 01:18 PM
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This ones easy...keep looking....get one that doesn't have issues, you won't regret it.
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Old Jul 2, 2014 | 01:07 AM
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C5 base coupe with automatic and a salvaged title? $14K sounds WAY overpriced to me...
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Old Jul 2, 2014 | 01:13 AM
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Originally Posted by luke87gt
C5 base coupe with automatic and a salvaged title? $14K sounds WAY overpriced to me...
I think I'm going try and talk him down to the $10-10.5k range before looking at other c5's. I mean the EBCM will most likely need replacing/repaired. God knows what else is wrong with it. It would be more in my budget, too.

What do you think?
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Old Jul 2, 2014 | 01:17 AM
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Originally Posted by Indecisive
I think I'm going try and talk him down to the $10-10.5k range before looking at other c5's. I mean the EBCM will most likely need replacing/repaired. God knows what else is wrong with it. It would be more in my budget, too.

What do you think?
Under $10K doesn't sound too bad... But I'd thoroughly have it inspected to see what you are getting into.
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Old Jul 3, 2014 | 01:41 PM
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Check out a website called Cargurus.com, they have listings for all used cars including
Corvettes, that's how I found mine.
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Old Jul 3, 2014 | 01:49 PM
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I paid $14k for my '01 M6 coupe with 70k miles and a clean title and history from a dealership.
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Old Jul 3, 2014 | 01:54 PM
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I would run as far as I could from a salvaged title car.
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Old Jul 3, 2014 | 03:14 PM
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Also take into account that salvage/rebuilt titles are harder to insure and are almost ALWAYS an instant denial if trying to finance.
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