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Hi all, I'm picking up my "new" 50th anniversary edition in the AM, assuming I can find no major defects, and yes, I'll post pics.
My question is; Do modifications reduce the value?
I'd like to personalize it, maybe some stripes, something subtle, not too outrageous.
Possibly an exhaust system, at least cat back.
The thing is I want it to retain it's value, I view it partly as an investment that I can enjoy, but I don't want to lose money on it in 15 years or so.
Forget about any financial gain with your car, enjoy it for what it is
Lol, this thread starting derailing, but you pulled it back!
All I really planned to do was a cat back, and some custom graphics.
Of course I'm also deleting those magnetic shocks, and going with Bilstiens.
IF anything, the graphics are what I would avoid. Yes, they're removable, but they can cause paint discoloration if removed later - and personally, I think all the stripes and add ons are tacky so that WOULD definitely eliminate people from the buyers pool. The exhaust is fine and easily reversed, and at this point, I don't think anyone is expecting a set of the magnetic ride shocks to be fully functional anyway - but that's also easily undone.
Either way, especially if it was bought recently, it's certainly not an investment. Go drive it and have fun. If you own it for 10 years and its worth the same, or even $5k less than what you bought it for, would you get $500 of enjoyment out of it per year? Chances are high that you would. It's not like it's going to swing wildly and become a million dollar car or anything.
Drive 'em. They like it. 278k and counting on my '02.
As a guy who had emergency 5-way heart bypass in my 50s several years ago, I say Live Now. Mod or don’t mod, just enjoy every day. I still thank God every time I drive my C5 because I’m still here to enjoy it.
I added new Alpine head unit with car play and Sirius, speakers, compact sub, back up camera, new seats and foam and a lot of sound deadener. I do it because I want it. I’d like to keep it for the duration, but the future is impossible to predict for prices, trends, buyers’ tastes—and each of us. Either way, enjoy your new C5.Hope that helps.
First off, nice looking car. Secondly, you are spot on. OP, enjoy your C5 NOW. The older we get, the less chance we have for a healthy 'tomorrow'. I have a daughter-in-law with-maybe-a month to live. She is 46 years old, leaving my 7 and 9 year old Grandchildren with no mother. Everytime I have an issue with my C5, thinking of this situation is one quick reality check.....
Last edited by grinder11; Jul 19, 2021 at 09:58 AM.
Sorry to hear that grinder. That is terrible news.
Yes, it is. Thank you for your condolences. She is on morphine, and bedridden, now paralyzed from the waist down. I feel for her, but it's the little ones I'm very worried about...... .
First off, nice looking car. Secondly, you are spot on. OP, enjoy your C5 NOW. The older we get, the less chance we have for a healthy 'tomorrow'. I have a daughter-in-law with-maybe-a month to live. She is 46 years old, leaving my 7 and 9 year old Grandchildren with no mother. Everytime I have an issue with my C5, thinking of this situation is one quick reality check.....
So sorry to hear that. I'll keep her and the rest of your family in my prayers.
I'm a bit late to this thread as others have said a C5 Corvette is an absolutely AWFUL investment. Unless, it is an investment in your own enjoyment of the car. As such, do whatever will make you happy. C5 values are GREATLY inflated right now, so now id NOT the time to buy if you want it to hold it's value long term. No one knows the future for sure, but you'll more than likely lose money on the car. I sincerely hope that you plan to drive and enjoy it. Otherwise it will greatly disappoint you. Be aware that any money you spend on mods, you almost certainly will not see a penny of that back. Who cares though, if it makes you enjoy the car more.
I'm a bit late to this thread as others have said a C5 Corvette is an absolutely AWFUL investment. Unless, it is an investment in your own enjoyment of the car. As such, do whatever will make you happy. C5 values are GREATLY inflated right now, so now id NOT the time to buy if you want it to hold it's value long term. No one knows the future for sure, but you'll more than likely lose money on the car. I sincerely hope that you plan to drive and enjoy it. Otherwise it will greatly disappoint you. Be aware that any money you spend on mods, you almost certainly will not see a penny of that back. Who cares though, if it makes you enjoy the car more.
Thank you for your condolences, too. You are also spot on. Unless you're selling used Corvettes for a livelihood, don't worry about making money on a Vette....
Mods adding or subtracting from value are subjective between the seller and buyer. Mods are "value added" to the buyer only if that person would have done the same mods after buying the car at which point you are MOST LIKELY getting those mods at a fraction of the price.
Also, some buyers hate mods. Some want a stock car, and some want a stock car to know THEY are the only hands on it.
I figure any mod you do, you can "get back" maybe 1/4 to 1/2 the price you spent on it when you sell (depending on buyer). Each mod has a lifespan too...telling me you put a new upgraded clutch in the car 10,000 mi ago I assume it's WELL worn lol. Tell me you put a Corsa/Kooks 409 stainless exhaust on 10,000 mi ago then it's not "worn" or needing replaced ANY time soon.
I don't like buying cars with mods I can't see. So ANY internal motor/drivetrain work is skeptical. Any exterior stuff like wheels/exhaust/brakes/appearance stuff is easy to judge.
I can speak for me. I waited and bought a garage queen car that has never seen rain. 100% stock down to the air filter and original manufacture tires.
I looked at and drove C6s and some other C5s before buying my C5. I agree that modifications will shrink the pool of future buyers. Heavy modifications will hurt value. I do believe that putting a reputable supercharger on the car like A&A or ECS or a Maggie will increase value. Especially if you have detailed receipts and you don’t drag race the car.
I also wouldn’t buy a car with a built forged engine. Or a car that has nitrous installed.
I thank those guys that buy a C5 and keep it a garage queen. They are keeping my future car safe and clean so I can buy it at a lower price than they think they will get and I'll drive the crap out of it.
What you buy depends on what you want. Some don't want mods, some don't care and some only buy cars with limited mods. "Value" is always in the eyes of the buyer regardless what the seller thinks lol.
Last edited by smitty2919; Jul 20, 2021 at 06:35 AM.
I don't plan serious/major mods, and don't plan to abuse it. I also don't expect it to increase in value, and I'm hoping it doesn't lose too much. I'm going to enjoy it, and not worry about it.
With my old 95, I kept the all the original parts in storage with the exception of the exhaust. When I sold it, I took it back down to as much stock as possible and handed the new owner the old Saw-blade wheels if he wanted to take one more step down.
Everything relies on your buyer. If it’s a collector, then of course, anything other than stock decreases the value. To a gear head looking for a weekend toy, upgrades absolutely add value. Just document what you do and keep all your stock take offs.
