C5 Values (Depreciation?)
Le Mans Master
Joined: Sep 2016
Posts: 6,480
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Man, you aren't kidding. I don't know if I've ever seen the price difference on any other model vehicle as high as it is on the C5 based on mileage. Those with ~ 70-80K are going for ~ $13-$14K, but if the mileage is under 30K, prices jump to the $18-$19K range, same colors, same options. That's a 40% increase, which is about double the average for most models with the same difference in mileage, according to the pricing guides. These prices are mainly for 97-00 models, though the '01 and newer models sometimes fall into this price range as well. The difference in price/mileage on these models is just as high.
I guess you just have to decide where you want to spend the extra money; do I buy a '98 with 25K miles for $18K and probably have a maintenance-free (except for the periodic stuff that needs to be done, of course) vehicle, or do I buy the '98 with 75K for $13K and plan on spending the $5k on repairs (mechanical or cosmetic), or possibly get lucky and have a nice looking, trouble-free C5 that goes tens of thousands of miles more not requiring any repairs? Either way, you're likely to spend the same, or close to the same amount of money overall...
Last edited by grampi50; Dec 30, 2016 at 06:57 PM.
Thread Starter
Intermediate
Joined: Dec 2016
Posts: 28
Likes: 3
A good story or a bad story? My initial thought when seeing those low mileage cars is someone thought they'd keep it like new and it would be a valuable classic some day, so it's well taken care of. However, doing some poking around last night I saw a low miles one that may have a trailer hitch, so it occurred to me that maybe it wasn't a gently used collectible but a track car that was just flogged for 8K of 12K miles.
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
A good story or a bad story? My initial thought when seeing those low mileage cars is someone thought they'd keep it like new and it would be a valuable classic some day, so it's well taken care of. However, doing some poking around last night I saw a low miles one that may have a trailer hitch, so it occurred to me that maybe it wasn't a gently used collectible but a track car that was just flogged for 8K of 12K miles.
One thing that worries me most with super low mileage cars this age is if they've been parked for long periods without being driven at all. These cars tend to have leaky seals, gummed up fuel systems, rubber, bushings, seals, etc, can dry rot and crack, the list of bad things that can happen goes on an on...I'd rather buy one with 70-80K miles on it that's been driven on a regular basis (not in the winter though), and has been well maintained...
Thread Starter
Intermediate
Joined: Dec 2016
Posts: 28
Likes: 3
Man, you aren't kidding. I don't know if I've ever seen the price difference on any other model vehicle as high as it is on the C5 based on mileage. Those with ~ 70-80K are going for ~ $13-$14K, but if the mileage is under 30K, prices jump to the $18-$19K range, same colors, same options. That's a 40% increase, which is about double the average for most models with the same difference in mileage, according to the pricing guides. These prices are mainly for 97-00 models, though the '01 and newer models sometimes fall into this price range as well. The difference in price/mileage on these models is just as high.
I guess you just have to decide where you want to spend the extra money; do I buy a '98 with 25K miles for $18K and probably have a maintenance-free (except for the periodic stuff that need to be done, of course) vehicle, or do I buy the '98 with 75K for $13K and plan on spending the $5k on repairs (mechanical or cosmetic), or possibly get lucky and have a nice looking, trouble-free C5 that goes tens of thousands of miles more not requiring any repairs? Either way, you're likely to spend the same, or close to the same amount of money overall...
I guess you just have to decide where you want to spend the extra money; do I buy a '98 with 25K miles for $18K and probably have a maintenance-free (except for the periodic stuff that need to be done, of course) vehicle, or do I buy the '98 with 75K for $13K and plan on spending the $5k on repairs (mechanical or cosmetic), or possibly get lucky and have a nice looking, trouble-free C5 that goes tens of thousands of miles more not requiring any repairs? Either way, you're likely to spend the same, or close to the same amount of money overall...
Melting Slicks
Joined: May 2009
Posts: 3,110
Likes: 285
From: Rio Rancho New Mexico
IMO when you have more money into the car than what the car is worth...they have hit rock bottom...My 04 Z with 56k miles isn't going anywhere....these cars really have hit rock bottom...modding one like i have and trying to sell it would not be a smart move.
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
I look at modding as more of a "for me only" thing, as you will never get that money back when you sell...in other words, the cost of the mods better be worth their full price to you, as they probably won't be to anyone else...
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Banned Scam/Spammer
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From: Machineguns, because I don’t compromise
One thing that worries me most with super low mileage cars this age is if they've been parked for long periods without being driven at all. These cars tend to have leaky seals, gummed up fuel systems, rubber, bushings, seals, etc, can dry rot and crack, the list of bad things that can happen goes on an on...I'd rather buy one with 70-80K miles on it that's been driven on a regular basis (not in the winter though), and has been well maintained...
My garage queen '01 has sat for 6 years and driven 400 miles in that time, mostly all at once. It's just as dry as the '09z driven a bunch.
Have you seen the seals that hold an LSx engine together? Have you taken the entire car apart like I have? If you did you wouldn't have posted what you just did. Nearly all the seals in a C5 are reusable (if you had to) and synthetic.
Banned Scam/Spammer
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From: Machineguns, because I don’t compromise
That's always a fun debate. I'd be more likely pay more for low mileage since I'm not particularly mechanical (once drove a couple hundred miles with a Napa's screwdriver stuck under my hood after changing a turn signal in their parking lot) nor do I want to be spending my minimal free time wrenching instead of driving. If I had modding plans, might as well get the cheapest one if you're going to be replacing parts anyways. But a the end of the day, it's just the sum of all of the info, beyond mileage, and going from there.
They can be reliable, but even still you'd better have some tools to go along with forum and YouTube help as a novice. Many threads and some recent about the upkeep. If you want to run it down before selling like a used condom without spending on a mechanic's help you'll need a set of tools and a spare car, or a different car entirely.
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
Wrong. So wrong. This isn't 1970
My garage queen '01 has sat for 6 years and driven 400 miles in that time, mostly all at once. It's just as dry as the '09z driven a bunch.
Have you seen the seals that hold an LSx engine together? Have you taken the entire car apart like I have? If you did you wouldn't have posted what you just did. Nearly all the seals in a C5 are reusable (if you had to) and synthetic.
My garage queen '01 has sat for 6 years and driven 400 miles in that time, mostly all at once. It's just as dry as the '09z driven a bunch.
Have you seen the seals that hold an LSx engine together? Have you taken the entire car apart like I have? If you did you wouldn't have posted what you just did. Nearly all the seals in a C5 are reusable (if you had to) and synthetic.
I don't have to take a car apart to know that rubber, or any type of seal dries out and cracks with age, and when those parts are seals that hold in fluids, they start to leak. Yours may not leak yet, but they will eventually, unless the C5 has some sort of magical seals that are impervious to aging...
Race Director
Joined: Nov 2016
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I don't have to take a car apart to know that rubber, or any type of seal dries out and cracks with age, and when those parts are seals that hold in fluids, they start to leak. Yours may not leak yet, but they will eventually, unless the C5 has some sort of magical seals that are impervious to aging...
2000 C5 with 20,000 miles here. Original owner put 16,000 miles in my C5 from 2000-2010. The next two owners drove my C5 4,000 miles over a total of 6 years...so about 650 miles/year. Nothing except the water pump (it was original from 2000) was leaking, cracked, broken, malfunctioning, etc. The harmonic balancer is funky, and there is a VERY minor trans. fluid leak (which can be attributed to a bad axle back exhaust install as leak started the same week as the exhaust install), but I was convinced this car would explode and my dick would fall off after reading responses on here about C5s sitting around (mine was in a garage at all times). So I was so paranoid I took it to 4 excellent mechanics in my region...all of them did a diagnostic on the car and said it's pretty much mint. Just because it's sitting doesn't mean it's going to explode or leak like a 2 month old piece of fruit sitting on a kitchen counter.
Safety Car
Joined: Dec 2009
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From: Birmingham Al
04 Z best of the C-5s.. I put my 04 Z on the track stock with some good tires ,COTA in Austin TX. F-1 track I really don't have the words , It's a race car from GM.. Point hit gas go just an increasable ride for a old 13 year old Corvette. I can run with the C-7s all day long ( Not the ZS ) Good times priceless ..
Team Owner
Joined: Mar 2001
Posts: 21,325
Likes: 3,841
From: small town in S.E Pa. PA
St. Jude Donor '03-'04
Low mileage on a C5 is not all that important.
I would much rather have a higher mileage well kept documented C5 than a poorly maintained low mileage C5. Any day.
I have many members from this forum tell me their stock C5 or slightly modified aesthetically, C5 is running strong even after 300K and 400K. I usually get a thank you from these guys as well.
There use to be a list of all the car on this forum ( a very small sampling of the 1/4 million C5's that were built) cars with 200K+ 300K+ and 400K + that list at one time had a dozen C5's that were north of 400K.
My Car has a little more than 100K, looks much better than New, everything works as it should. I also have every piece of paper, maintenance record, receipt for oil filter, modifications warranties, receipts for mods with the date I installed them.
You will find a number of beautiful C5's on this forum many with higher mileage..... I say higher mileage because a C5 with 150K is Not a high mileage C5.. not if it is well maintained.
You can find a lot of low cost C5's out there. It's the high cost ones that I would look at.
I have many members from this forum tell me their stock C5 or slightly modified aesthetically, C5 is running strong even after 300K and 400K. I usually get a thank you from these guys as well.
There use to be a list of all the car on this forum ( a very small sampling of the 1/4 million C5's that were built) cars with 200K+ 300K+ and 400K + that list at one time had a dozen C5's that were north of 400K.
My Car has a little more than 100K, looks much better than New, everything works as it should. I also have every piece of paper, maintenance record, receipt for oil filter, modifications warranties, receipts for mods with the date I installed them.
You will find a number of beautiful C5's on this forum many with higher mileage..... I say higher mileage because a C5 with 150K is Not a high mileage C5.. not if it is well maintained.
You can find a lot of low cost C5's out there. It's the high cost ones that I would look at.
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
I agree with poster "~Josh".
2000 C5 with 20,000 miles here. Original owner put 16,000 miles in my C5 from 2000-2010. The next two owners drove my C5 4,000 miles over a total of 6 years...so about 650 miles/year. Nothing except the water pump (it was original from 2000) was leaking, cracked, broken, malfunctioning, etc. The harmonic balancer is funky, and there is a VERY minor trans. fluid leak (which can be attributed to a bad axle back exhaust install as leak started the same week as the exhaust install), but I was convinced this car would explode and my dick would fall off after reading responses on here about C5s sitting around (mine was in a garage at all times). So I was so paranoid I took it to 4 excellent mechanics in my region...all of them did a diagnostic on the car and said it's pretty much mint. Just because it's sitting doesn't mean it's going to explode or leak like a 2 month old piece of fruit sitting on a kitchen counter.
2000 C5 with 20,000 miles here. Original owner put 16,000 miles in my C5 from 2000-2010. The next two owners drove my C5 4,000 miles over a total of 6 years...so about 650 miles/year. Nothing except the water pump (it was original from 2000) was leaking, cracked, broken, malfunctioning, etc. The harmonic balancer is funky, and there is a VERY minor trans. fluid leak (which can be attributed to a bad axle back exhaust install as leak started the same week as the exhaust install), but I was convinced this car would explode and my dick would fall off after reading responses on here about C5s sitting around (mine was in a garage at all times). So I was so paranoid I took it to 4 excellent mechanics in my region...all of them did a diagnostic on the car and said it's pretty much mint. Just because it's sitting doesn't mean it's going to explode or leak like a 2 month old piece of fruit sitting on a kitchen counter.
I didn't say ALL cars that sit more than they're driven will leak, but I do believe that most will...those who have not experienced leaks are the exception, not the rule...
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
I would much rather have a higher mileage well kept documented C5 than a poorly maintained low mileage C5. Any day.
I have many members from this forum tell me their stock C5 or slightly modified aesthetically, C5 is running strong even after 300K and 400K. I usually get a thank you from these guys as well.
There use to be a list of all the car on this forum ( a very small sampling of the 1/4 million C5's that were built) cars with 200K+ 300K+ and 400K + that list at one time had a dozen C5's that were north of 400K.
My Car has a little more than 100K, looks much better than New, everything works as it should. I also have every piece of paper, maintenance record, receipt for oil filter, modifications warranties, receipts for mods with the date I installed them.
You will find a number of beautiful C5's on this forum many with higher mileage..... I say higher mileage because a C5 with 150K is Not a high mileage C5.. not if it is well maintained.
You can find a lot of low cost C5's out there. It's the high cost ones that I would look at.
I have many members from this forum tell me their stock C5 or slightly modified aesthetically, C5 is running strong even after 300K and 400K. I usually get a thank you from these guys as well.
There use to be a list of all the car on this forum ( a very small sampling of the 1/4 million C5's that were built) cars with 200K+ 300K+ and 400K + that list at one time had a dozen C5's that were north of 400K.
My Car has a little more than 100K, looks much better than New, everything works as it should. I also have every piece of paper, maintenance record, receipt for oil filter, modifications warranties, receipts for mods with the date I installed them.
You will find a number of beautiful C5's on this forum many with higher mileage..... I say higher mileage because a C5 with 150K is Not a high mileage C5.. not if it is well maintained.
You can find a lot of low cost C5's out there. It's the high cost ones that I would look at.
I tend to agree...my biggest issue with the higher mileage cars, as far as for someone who is looking to buy, is they generally have more wear and tear cosmetically....specifically the paint on the front ends and of course, the driver's seat....mechanically, they're still usually pretty sound as long as they've been maintained properly and not beat on...
Team Owner
Joined: Mar 2001
Posts: 21,325
Likes: 3,841
From: small town in S.E Pa. PA
St. Jude Donor '03-'04
I tend to agree...my biggest issue with the higher mileage cars, as far as for someone who is looking to buy, is they generally have more wear and tear cosmetically....specifically the paint on the front ends and of course, the driver's seat....mechanically, they're still usually pretty sound as long as they've been maintained properly and not beat on...
interior is 14 years old with 80,000 miles of seat time. Il show you a shot of the drivers seat, and note my flat screen muti function head unit.
I turned down 25K twice last year. Serious offers from two friends..
JUst some shot of what is considered a high mileage C5
documentation"
maintenance records folder
14 year old interior from Mid America. not the head unit..which is relatively new.
Engine with 98,000 miles
Exterior
]Front fascia original paint
Shot taken 12 days ago, from surveillance cam
Nice cars are out there even with high mileage.
Bill aka ET ( Photo ***** )
Last edited by Evil-Twin; Jan 1, 2017 at 01:08 AM.
Team Owner
Joined: Mar 2001
Posts: 21,325
Likes: 3,841
From: small town in S.E Pa. PA
St. Jude Donor '03-'04
One other thought
Many of the nicest C5's out there are not on the market. The nice ones that go up on the market are gone in a few days or already spoken for before the original owner gives it up. I get a dozen or so people a year ask me to let them know if I want to sell. Many give me their phone number
Last edited by Evil-Twin; Dec 31, 2016 at 01:51 PM.
Team Owner
Joined: Oct 2004
Posts: 81,241
Likes: 3,063
From: altered state
St. Jude Donor '05
They will continue to come down til theres nothing but nice ones and roaches with nothing in between. Plus has to be a demand
Plan on losing money if youre ok with that then pull the trigger
these arent collector cars
Plan on losing money if youre ok with that then pull the trigger
these arent collector cars
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
Just to let you know what is out there... I am not the only one with a nice car.. but here is my car 17 years old. a little over 100K. All these photos are recent, paint is original. hood paint ( MCM hood ) paint is 16 years old. rockers with molded brake scoop paint is 14 years old, rear fared quarters paint is 2 years old.
interior is 14 years old with 80,000 miles of seat time. Il show you a shot of the drivers seat, and note my flat screen muti function head unit.
I turned down 25K twice last year. Serious offers from two friends..
JUst some shot of what is considered a high mileage C5
documentation"
maintenance records folder
14 year old interior from Mid America. not the head unit..which is relatively new.
Engine with 98,000 miles
Exterior
]
Front fascia original paint
Shot taken 12 days ago, from surveillance cam
Nice cars are out there even with high mileage.
Bill aka ET ( Photo ***** )
interior is 14 years old with 80,000 miles of seat time. Il show you a shot of the drivers seat, and note my flat screen muti function head unit.
I turned down 25K twice last year. Serious offers from two friends..
JUst some shot of what is considered a high mileage C5
documentation"
maintenance records folder
14 year old interior from Mid America. not the head unit..which is relatively new.
Engine with 98,000 miles
Exterior
]Front fascia original paint
Shot taken 12 days ago, from surveillance cam
Nice cars are out there even with high mileage.
Bill aka ET ( Photo ***** )
Beautiful car, and I can see why you get so many offers. I wouldn't offer that much, but not because it isn't worth it, it's simply out of my budget, but again, very nice car!