I'm looking to buy my first corvette, and i think I have settled on a 2001 Z06.

Prices are a wide range from 11k up into 30k for the stock car. Mileage seems to be the biggest factor in price differences. I want one with as low mileage as i can afford, I can spend around 20 give or take.

Anything I should be looking out for? Specific model years above 01?

I just wanna get the best C5 for my money.

Thanks in advance!

Dylan

 

The 2001 was the first model year re-entry for the Z06 and the first year for mass production. It had 385 HP.

Beginning in year 2002 the exhaust, camshaft, and valves were changed to produce 405 HP for the 2002-2004 Z06. HUD was also added as standard to the Z06.

Other changes over the years included suspension changes and minor fuel management changes. Of course as expected the 2004 has most of the final changes, but the 2003 has many of them as well.

The 2003 models were all badged as 50th Anniversary editions since 2003 was the fiftieth anniversary of the Corvette. In addition to the 50th badges they also came with a 50th Anniversary Keychain and Owner's manual cover.

Perhaps the most stand out models were the Z16 or 2004 Commemorative editions that came in Lemans Blue with chrome wheels and LeMans stripe package and a carbon fiber hood.

All of the C5 Z06s are fantastic cars and perhaps on the very threshold of being considered a super car in their day.

Personally I would opt for the 405 HP versions, but nothing wrong with a nice 2001.

Check the site info for information about potential flaws with the 01-04s. Not alot of drawbacks with any version through the 01s had oil consumption problems and the 02-03 experienced some faulty valve spring issues. The 04s have the fuel pump in the tank, so if it goes very costly to repair.

For 20K you should be able to get a nice Z06. Perhaps not mint, but nice. An under 35K 01 might be possible, but if you are looking for an 02-04, you are probably looking at a 50K plus car for 20K without a little more change.

Best of luck! The C5 Z06s are still fantastic cars and you would be hard pressed to get more bang for your buck.

 

Good post! Hard to add anything to that.

Shakey

 

Thanks Shakey!

 

I think that bikeriderga covered most of what you need to know, so I'll chime in with my buying/searching experience since I was in the same spot as you a couple of months ago. Maybe it will help reassure you about your choice on a Z, and give you some insight of talking to Dealerships.


I bought my house 2.5 years ago and told myself when I finished doing house stuff (floors, painting, other big projects) that I would try to find a budget project car to build with an LS motor swap (Miata, RX7, 80's muscle), but I ultimately decided to find something that was turn key and ready to roll now. Did tons of reading and research, and found that the C5 Z06s were in a price range I could afford and were the best bang for the buck you can get for buying a race/weekend driver. GM parts like rotors and pads don't set you back too much $$$, I know GM motors so I can diagnose and repair nearly anything, the insurance is cheaper than my 2005 Silverado (LOL), and it gets high 20s for mpg on the highway.

My budget was about 20K like yours (I started out in the 16-18K range). One thing I will say, is that dealers will NOT budge on price. You will find a lot of them asking a good bit over what the NADA and KBB state the value should be. I found that none of them cared what these sites said the value should be. Even with me offering 1K over the KBB, none of them budged a single penny. Private sale is another story. Also, some of us noticed on the forums that the KBB/NADA for our cars recently went up nearly 25%. So my car now where the KBB was about 18K is now somewhere in the 22-23K range. Take that with a grain of salt, as all the dealers I talked to could care less about KBB.

I drove 6 hours to look at 4 Z06s in Dallas, and even face to face with cash I could not negotiate with any of these dealers or Corvette Warehouse. I then went south to Houston and looked at 2 others. Same thing. I purposely aimed for an 02-04 Z06 in the 80K+ range because the LS motors are pretty stoute and I was hoping to be able to knock the price down due to the high mileage. What I found was some over 100K were just in rough shape. Spots chunked out of the clear coat, obvious harmonic balancer wobbles, front crash supports beat to all hell.
The first I test drove was an 02 with 100K miles, the shifter was trash and it lead me to believe the synchros in the tranny were shot, but it was likely the short throw shifter installed on it. Some of the short throws are really difficult to man handle.

My original price range I was aiming for was about 16-18K and this was due to KBB/NADA stating that these things should be priced around 15K. All the ones that should of been 15K were priced at 18K. To me, I didn't want to buy them at 18K because if I have to turn around and sell it due to the bad economy they're not going to offer me 18K on my trade, so I'd be 3-4K in the hole. I ultimately ended up being discouraged by the 100K cars at dealers and decided to go a couple of grand higher to find a lower mileage Z. I looked for about 5 months daily on Autotrader and Cars.com, and had my eye on about 4 Zs in the 70K mileage range all asking about 20K. I started talking to a couple of them and noticed how long the ads were up and got them to go down a little. I found that the private guys knew way more about their cars and their history and could tell me all the ins and outs to little quirks they've run across with the car. I ended up with a private sale on an 02 in immaculate shape with Forgestar F14 rims with 70K miles and an asking price of $20,500. I felt it was worth his asking price so I grabbed it.



Sorry for the long story, but I figured it was worth a back story when I realized you're in the EXACT situation I was in a few months ago. If I were you I'd look for an 02-04 to get the 405hp LS6. The 01's are ok at 385, but it really doesn't cost a lot more to get the newer one. Also didn't the 01s not come with the HUD? Someone else can chime in. The only issues I looked for with mine were mechanical. Rock chips on the front bumper, that's wear and tear, I could care less about that. The harmonic balancer is a known issue, the lift springs are known to be bad on the 02-03s, something I haven't gotten around to yet but will come. The motors are pretty bulletproof for the most part. In the price range you're looking at, most of the previous owners will have done intake and exhaust. Something I was looking for with mine because intakes for it are ridiculously overpriced, same with pipes. So consider the mods done to it. I didn't want one that was blown and had nitrous, thus proving that it had been run hard. Just keep in mind that people that buy this either own them for a good while, or a short time. They WILL run them hard because that's what it's made for. But it also handles it very well so just figure out if it's been run in a full race mode or just spirited driving.

 

Thank you for the all the info! I appreciate it. I've found a couple around here, and have had bad results so far. My biggest hurdle is that I'm still currently learning to drive stick. I'm still shooting to buy within 6 months from now, so i know I have time to become proficient. When I mentioned this to one private seller and one dealer, the conversations changed for the worse. Both people were almost elitist in their reactions, and made me feel like I am wasting my time shopping for these cars without completely knowing how to drive one.

I found one place about 100 miles away that only deal in corvettes, and are willing to work on pricing for customers. That's a huge plus, and they were very cool. Very informative and very welcoming. Great selection too. I'm super excited to immerse myself in the corvette world while I shop and prepare, and even more excited to buy one!

I really like the 2002 and I think I'll be shopping for that year specifically.

 

I can sympathize with a dealer or anyone else who is hesitant to let an inexperienced driver behind the wheel of a Z06. But it sounds like you found a great place to shop and 100 miles is not that far away. Good luck with your search and perfecting your manual driving skills. You will get there and when you do you will wonder why you waited so long. There is nothing like the connection of the driver to the car when driving a stick. I think that's the only way to own a sports car.

Shakey

 

a lot of good info here. Keep researching and shopping. I think (as others have said) that you will find better value w private party sales versus dealer. Take your time. Try to borrow a friends car to practice driving stick whenever you can.

 

Bikeriderga said it all very well. I will add that these engines are very strong (I bought mine new in 2004) and I have raced my 2004 Z06 numerous weekends and with 78,000 miles on the odometer I've never had a single engine issue - and I run mine hard. I'm on my second clutch, third set of brake pads, and my fourth set of tires and that is cheap maintenance for a street/race car. I recommend going with a 2002 or newer with the lowest miles you can afford.

 

Slight revision to this is needed. You are on the right track for the most part with your advice, just a few small corrections.

The fuel pump on all C5's is in the tank. It is the fuel filter that is outside of the tank on models up to late 2003 build dates. The fuel pump did however change location in the later models; it is accessible from the bottom on earlier Z06's but the tank needs to be pulled on '04's because the pump assembly is at the top. That is what accounts for your added labor expense.

Otherwise spot on

 

02-04 Z06, hands down, you will never regret! Take your time, read the forum... Learn what to look for... You will then know what you want when you see it. And don't be afraid to get out of your backyard during your search. There are plenty of members here that will look a vette over for you, if ask. Good luck

 

Thanks for the advice. I've been looking at the neighboring states, to get a sense of the market. I'll keep it in mind to ask for a look over! That'd be cool.

From what I've taken in so far, I know this is what I want. Hands down. I've spent the last two weeks reading, researching, watching, studying all the info I can. Hours a day! Just a few more questions I gotta cover, but regardless. I'm set on it.

I'm thinking silver. Maybe electron blue, maybe yellow.

 

Update: Gonna pick this one up on Saturday!

http://www.vetteculture.net/inventor...ardtop-Mesa-AZ

I had a superb experience with vette culture. The owner, Gino, is an awesome guy and really knows these cars. He gave me a little behind the scenes tour of the shop to show me what they do as far as service and mods go. Great place to buy if your'e planning on going through a dealer. Peace of mind. They only buy the best to sell the best!

Anyway... the price was 26,997 and we settled on 24,997. I feel like I got a great deal. Flawless Z. Driven about 1200 miles a year. 16,812 on the clock now. I couldn't pass it up.

A couple pics from our in person meeting.









I was shopping for silver, but when I saw the yellow, that was it.

What do you all think?

 

Looks really nice! Great miles (driven but still very low). I've warmed up to yellow, very nice car.

 

Congrats on the new car, I think it is a good deal for the mileage and condition. I like the color (same as my 04). I hope you have had time to practice your gear changing skills.....

Shakey

 

Iv'e been able to find no one that I know or vaguely know with a manual car to help me! One friend has a beater 66 mustang with a 4 speed in it, but he told me not to bother learning on that. The owner of the dealership told me he would take me out as long as I need to help me practice. He says that these cars are fairly easy to drive. I'm not sure if i'll have too much time after I pick it up to take him up on that offer.

The friend with the stang is going with me to drive it home. He's been driving manual only since 16. He'll help me brush up. I'll learn cautiously and gently, and I won't rush it.

Super excited here. Once home, I'll put more pictures up.

 

Congrats - very nice find.

Leave the Active Handling on as this will help you from getting into trouble until you get some experience under your belt.

 

Will do, definitely!

 

Congrats on your purchase!

 

Thank you! Saturday can't come fast enough.