FastEdFL

I've been considering getting a 2004 base model coupe with a manual transmission as a daily driver. I plan on driving under 4K miles per year. I've never owned anything as nice as a corvette before so this will be a treat. I'm not looking for a track car, but something that is a lot of fun.

1. What potential issues would I run into getting a higher mileage one?
2. Would I wish I had a C6 instead of a C5?
3. Is the Z51 package or anything else really worth it?
4. What can I get around 15K mileage wise and in what condition?
5. Any idea what a corvette depreciates at in this age per year? If we decide on more kids I'd have to trade it in for hopefully a CTS-V.

Thanks for any input.

Phanni

If you only put 4000 miles a year on your ride you could easily do a lot worse on just about any car other than a Vette when it comes to depreciation. MY wife's 2003 Cadillac DTS and my 2001 Corvettes ( yeah I have two) both cost roughly the same when new. We traded the Caddy in about 6 months ago and felt lucky to get $5000 (it was likely really much less) I'd not even consider selling either of my Vettes for less than $10,000.
Even the one that I drive daily and has 130,000 miles on the clock. My other one I would not sell for$15,000 (it has about 25,000)

roadbike56

!. See 73Corvette's response for more information than I knew.
2. No one can tell you if you'll wish you bought a C6 over a C5, but consider that the bump to go to an older C6 over a C5 is about $4 to $5K. For that much more, you can get a really low mileage C5.
3. To me the Z51 is not only not worth it, I drove one and didn't like it at all. BUT that's just me, most folks here want and like the Z51, again, it's up to you if it's worth it.
4. For $15K you should be able to get a 02/03/04 with around 60 to 80K on the clock no problem.
5. I own a 04 coupe, it's depreciating at around $1.5K per year, I expect that to slow down over the next few years. Repairs (not including normal maintenance or changes I wanted to make) has been less than $500 per year. Keep in mind, it's not a DD, just a weekend toy. I consider mine to be very reliable.
With regard to the gas tank leak, you should check any c5 or c6 Corvette before you purchase, not just an 04. It's easy to do. Just fill up the tank before you buy, do not overfill. When the pressure clicks off the pump lever, stop filling. If you've got a leak the gas smell will be very noticeable within 5 miles. Also, after filling bring the car in for an inspection by an independent garage. When they put it on the lift you can see if it's leaking. If you're considering an 04, and it hasn't leaked in 11 years, you're probably good to go.
EDIT: I see your from Florida. The Corvette prices there are among the lowest on the east coast. Don't know why, but it seems like there's a lot of better priced cars there than her in NC.

tcrote5516

OK...what are you asking about?
Question #1 and #4 make no sense together. Give us your budget and we can tell you what to expect.
#2 I don't know, would you? If so then buy a C6.
#3 The Z51 package is worth it/not worth it depending on your driving needs. I wouldn't worry about it for daily driver.
#5 The Vett won't depreciate based on age at this point, it will depreciate based on mileage. A 15k mile Vett today for say $22k will be worth about the same in 2 years if it still had 15k miles. If you have kids and this is your primary ride, save yourself the hassle and just go buy the CTS.

F&Yb0dluvr

I think He means what kind of mileage for fifteen thousand dollars to which I would say you're better off getting an 01' with 60kmi for $15k instead of an 04' with 110kmi for the same price as the changes were minimal and not worth the price difference IMO..

FastEdFL

I appreciate all the feedback as it's been great.

Well, I figured to ask on here cause people on here are more likely to have driven both cars.

We have a minivan and my wife is a SAHM with a minivan giving me the flexibility to drive a 2 seater. Even if we had another one, it will still give me a few years until both kids are going to separate activities which would be when we need 2 cars.

Thanks for the comment on depreciation vs. mileage. This definitely helps my case with low mileage driving.

Choreo

I get about 200 m/bot (miles per bottle of Techron).

speedmaster64

My opinion, and I spent six months researching which year was the best value and features for my liking...

1. 2002 is the value out there in a C5, so in September I got one with 71,000 miles from an original owner for $14,500.

2. I started out thinking I would get a convertible but found the one I drove were too noisy and I didn't enjoy looking at it when the top was up.

3. Z06 means sacrificing the targa top, and that was a deal breaker for me. I love the contrast of driving wothout the top on.

4. 2002 has less likely repair problems than 2004, and they were typically around $1500-$2,000 less expensive, so that was a no brainer for me.

5. I don't like the C6 exterior nearly as much as I like the C5. Period.

rjwz28

Base model to base model, I'd rather have a C6, especially an '08+

However, at $15k or so, your only reasonable option is a C5, and I can't see you being unhappy with it as long as you shop smart.

Vetteman Jack

The above posts have pretty much covered the topic. The only thing I would add is if you are uncertain about whether you would like a C5 or a C6, go test drive some examples of each one. Only you can decide which one would be best for you. There is nothing wrong with either generation.

itzza427

C5 interior space is munch better. This could be a factor if you are 6ft. or more or tend to be on the husky side. I'm 6'2" and find the C5 to have more wiggle room.
As long as the care has been cared for and not been abused on a regular basis higher mileage should not be a big worry. There have been posts of C5's with 300k here on the forum!
Z51 is nice but not essential. M 2000 FRC has it and it is not intrusive and has a quite comfortable ride. If it has it ,,nice but if it doesn't have it, no big deal. You MIGHT want to be a little cautious with one that has the magnetic adjustable shocks just because of the age these cars are reaching. They are quite nice,pretty durable,,BUT VERY expensive come replacement time. If they do have them,,make sure the shipping stops have been removed. People are STILL finding cars with them left in. Cars have been sold with complaints of harsh ride only to find them still in.
Have fun with the search and your soon to be new daily driver!!

FastEdFL

Appreciate all the advice in here it's great.

Since the car won't really depreciate, I may be willing to spend a little more, maybe 20-22K.

I'm on the fence about a base model and the Z06. Is one more reliable than the other if they are mostly driven pretty tame?

CaseyJones

I bought my 02 Z06 last September with 56,000 miles on the clock from a local dealer. The car was a locally owned trade-in so I was able to talk to the previous owner at length. The only reason he traded was to get a Suburban for his wife. No problems with the car at all. I use mine as a daily driver and am enjoying every minute behind the wheel. I'm in NC so I agree with a previous post about prices in the area. I went from a slightly modded 80 Corvette (which I still own) to the Z06 and couldn't be happier. I just have to be careful about speed bumps and driveway entrances since the Z06 sits pretty low.

I said all that to say this: Buy what you want after shopping carefully. Our Corvettes are generally really good cars that serve us well for many miles with reasonable care. As with any other vehicle, things fail on them occasionally but can be repaired. I was really surprised with the gas mileage as it is far better than I imagined as long as I drive sensibly. And the power...Exceptional!

The forum provides a wealth of knowledge and support when things come up. Buy, drive, and enjoy. I'll bet you drive yours more than you think once it is sitting in your driveway. Loaf of milk, carton of bread...any excuse is a good excuse to take the long way to the store once you have a Corvette.

AlaJoe

Could you elaborate on this? I bought a 2004 specifically because it was the last year of the C5s. I figured each year would have been refined a bit more so the last year would be as close to having all the bugs worked out as possible

Corvette#2

A certain range of VIN numbers in 2004 can potentially leak gas from the tank cross connect. I think some were fixed under warranty or something, but not all.

DanSavage

If you're looking to buy a 2004, you might also test-drive cars with the magnetic selective ride control (MSRC/RPO F55) and compare the ride to cars without it. (base, Z51 and Z06)

Personally, I like the option of having a softer ride on rough roads so the suspension doesn't beat the car to death and while driving at highway speeds or anytime the wife is in the car. I usually set to sport when I'm alone or on winding roads.

The magnetic shocks will be cost more to replace when the time comes, but I knew that going in and it's worth it to have the ability to change suspension settings on the fly.

The F55 suspension option is only available on 2003/2004 C5s and all C6 and later cars.

rjwz28

No

Reliability will be the same