Whats it worth?
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Joined: Apr 2018
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Whats it worth?
I have been in the market for a super cheap c5 recently as just a play car that I can wrench on from time to time and have found one that I think fits the bill. No price listed and the guys says just make an offer so I figured I would come to the mighty all knowing place of corvettes to get some opinions. So here is the rundown on the car.
1998 C5 Base Convertible (kind of a purple gray color?)
212,000 miles
6speed
Guy says it had the motor rebuilt 6500 miles ago but who really knows (no paperwork)
Tuned
SLP exhaust.
Clean and clear title.
Its got some fake Z06 badging and break duct vents (I would remove the badging first thing)
It also does not have the stock flip up headlights (I would want to return them back to the stock ones)
So.... Whats it worth??
1998 C5 Base Convertible (kind of a purple gray color?)
212,000 miles
6speed
Guy says it had the motor rebuilt 6500 miles ago but who really knows (no paperwork)
Tuned
SLP exhaust.
Clean and clear title.
Its got some fake Z06 badging and break duct vents (I would remove the badging first thing)
It also does not have the stock flip up headlights (I would want to return them back to the stock ones)
So.... Whats it worth??
Last edited by Tmperson16; Mar 18, 2020 at 01:51 PM. Reason: Missing info
Team Owner
Joined: Mar 2001
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From: small town in S.E Pa. PA
St. Jude Donor '03-'04
red flag !!!!!! rebuilt motor no paper work.
assume it was not done and the car has 200,000 miles. no one is going to spend 4K on a rebuild with out documentation.. if he did the rebuild himself, there would still be receipts for parts. I expect that because there is no documentation, I would not trust the seller.. I would go no higher than 2 grand and bump to 3 as a final negotiation If he passes. walk away... you dont need to throw 4K into a car with such poor credentials. and the seller may not be credible. The rebuilt motor ( with no documentation ) excuse is just a buffer for the high mileage.
Bill aka ET
assume it was not done and the car has 200,000 miles. no one is going to spend 4K on a rebuild with out documentation.. if he did the rebuild himself, there would still be receipts for parts. I expect that because there is no documentation, I would not trust the seller.. I would go no higher than 2 grand and bump to 3 as a final negotiation If he passes. walk away... you dont need to throw 4K into a car with such poor credentials. and the seller may not be credible. The rebuilt motor ( with no documentation ) excuse is just a buffer for the high mileage.
Bill aka ET
Last edited by Evil-Twin; Mar 18, 2020 at 02:06 PM.
Thread Starter
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I am pretty sure the guy is just flipping the car and not an actual corvette enthusiast, so credibility is shot with his "word". The guy just texted me and said $5,500 bottom dollar... Hmmm sounds a little high...
Team Owner
Joined: Mar 2001
Posts: 21,325
Likes: 3,841
From: small town in S.E Pa. PA
St. Jude Donor '03-'04
you may be buying a bucket of bolts.. Have you driven the car... what are the codes... will it be street legal with a currant state inspection ? I would offer him 3K ( Your bottom line ) I would not negotiate more than 500 more. for a final offer.
Melting Slicks
Joined: Nov 2014
Posts: 3,399
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From: Havre de Grace Maryland
Just some thoughts. Regarding the sellers comments on the rebuilt engine and no docs, did he do the rebuild or have someone else do it? If he didn't do it ask him what shop did it. How long did he own the car? If he says a previous owner had the work done, ask him for the name. A Carfax can verify ownership. Depending on the condition of the car other than the motor issue and if the price is something you would pay absent of the motor issue, you might want to consider making an offer based on results of an inspection by a qualified mechanic that knows C5's. Any hesitancy or misstatements by the seller, walk away. JMHO.
Team Owner
Joined: Mar 2001
Posts: 21,325
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From: small town in S.E Pa. PA
St. Jude Donor '03-'04
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Mystery car..$2500
Bill says the powertrain will last 250
to 300k , you are almost there.
Find a better car.
Good luck
Bill says the powertrain will last 250
to 300k , you are almost there.
Find a better car.
Good luck
Thread Starter
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Joined: Apr 2018
Posts: 57
Likes: 2
Okay so I just finished talking it over with the gentleman selling the car and the response I got back would pretty much violate 90% of the rules on this forum. So I'll paraphrase. (In the beginning) He claimed the previous owner had the motor rebuilt and he has seen the papers but doesn't know where they are. Then after apparently insulting him with the $2-3k offer he continues to tell me that HE rebuilt the engine and that he has all the receipts from the parts and that he has already had offers higher then the $5,500 he offered it to me for. Apparently he sniffed me out and "knowing" I was not a serious buyer he decided to do all this just to see what I would say. I have screenshots for anyone who would like a glimpse but I will not be posting them publicly.
I now agree that I need to stop being cheap... Its just not worth it. Thank you Evil-Twin for your help, you might have just saved me on this one.
I now agree that I need to stop being cheap... Its just not worth it. Thank you Evil-Twin for your help, you might have just saved me on this one.
