Hey guys - I've been looking for a C5 on and off for the last year and recently came across one. My current budget is sub-15k, leaning towards an auto coupe (I live in Chicago and want to daily drive). Since I'll be street parking most of the time I'm not looking for garage perfection, additionally I've got experience doing auto DIY work, so a bit of elbow grease is okay in my purchase (so long as the price is right). I found and test drove one locally and would like to hear these groups thoughts on purchase.

First point - I did my first C5 test drive today and holy **** C5s are a blast!

The Car:
- 2001 Torch Red with ~85k Miles, A4 Coupe
- 2 Owners - Current owner bought from his uncle in 2021
- I like the spec, packages: Z51, Preferred Group 1+Hud, Memory Package (AAB), Mirror backage (DDO), Performance Axle (G90+92) glovebox sticker is attached
- Modifications: Exhaust, Cold air intake, head unit upgrade, seats, some questionable carbon fiber interior stickers
- Trans was rebuilt by PerformaBuilt in 2021 (less than 5k miles ago) - Level2 Pro Race + 10-inch PMLS-3 Billet Converter and installed by a local Chevy dealer
- He's asking $14.5k but said he would do $13k (without me even pushing him)

I test drove it today (only went about 50 through neighborhood streets) and here are my thoughts on this car:
1. It seems a bit tired - tires are old, steering is vague, clanked a bit over bumps, pulled a bit to the left when hard stopping, shocks seem fine - I'm assuming a steering refresh is in order
2. Exterior/interior less than stellar - some peeling clearcoat, misaligned headlights, driver's door was creaky, hood doesn't close without some force, some panels under the dash were unattached, silver rings around gauges fell off inside housing, after-market seats were peeling everywhere (no-name bucket seats)
3. I think it sat for a while - original owner did 60k miles in first 6 years, mileage in 2022 was 82k - currently at 85k
4. Engine seemed fine - started right up, idled quietly (a bit of ticking but it sounded like normal valvetrain noise), smooth power delivery
5. Codes: Only visible alert in dash was TPMS, I did scan the computer and came back with ~20 historic codes, no engine/trans codes, almost all ECU/BCM communications issues, I'm assuming due to grounds or low battery problems? Only non-historic code was U1009. Types of errors: LH/RH door module errors (B2252, 2282, 2284, 2265, etc.), wheel speed sensor errors (C1221, 1222, 1248), EBCM comms error (C1214)

My two questions for this forum:
1. Is this a basket case to stay away from or is it solid bones and just needs some TLC? Ideally, I'm looking for something that can last another ~10 years and 60k miles
2. If you think to continue, what's a fair price? Tires, steering refresh, and new seats will be at least 3k just to get it up to par...?

I appreciate any and all commentary, looking forward to joining this community!

-M

 

Also, if its worth pursuing, I'll probably take it to a mechanic to do a full rundown - I couldn't see under the car at all...

 

What year is it. Do you have pictures.

 

I saw the year. I would be cautious. I seen it had mods and sometimes that alone creates issues. We found out the hard way on our 04.

 

Pictures here, it does clean up well. Mods are pretty normal for C5s?

(Sorry for pic quality, took screengrabs of the ad)

 

can't send a message!!

check out my listing for '04!!

 

Where are you located or where is the car? I’m in the far northwest burbs, west of Elgin IL. My 90,000 mile c5 is mint and I’m the original owner. Can I assist in anyway? You can come check my car out too if you want for comparison. Let me know.

 

Spec on this car is near identical to my 2002, I gave 12K for it a few months back, 90K miles.
I would run a carfax or auto check on it, could have been crashed at some point.
One thing I wonder about it is the transmission, a level 2 race performabuilt with a 10" converter???
That is an awful lot of big bucks trans and converter for such a stock car otherwise.
Like maybe it had a bunch of race type mods and was de-modded to sell it.
Noise over bumps is pretty standard fare for a high mile C5, especially with the Z51 suspension, they are very stiff.
Vague steering and pulling brakes, I would be looking very hard at that.
Interior is, as everyone knows, the low point on these cars, but they can be fixed up.
Seats would have to go, best conversion is C7 seats, adding them to my car improved it beyond description and made it TONS quieter inside.
Since the seller was so quick to say he would take 13k, then likely he would take a good bit less, and if not I think I would pass, 13K is high IMO.

 

I'm also suspicious of that transmission on an otherwise mostly unmodified car. Why in the world would you spend an extra $3k or so on a fancy transmission unless you expect the stock unit to break? And since the transmission held up what other drivetrain parts took that force?

 

Thanks Beast - right now, mainly looking for 1) is it worth pursuing, and 2) what the market price would look like, appreciate the offer to help.

Thanks LTN/Dads - I was also surprised about the trans, but he said "it was cheaper than an OEM replacement"...he did confirm the stock trans was slipping at ~80k miles which seems par for the course, but who knows. Trans work was only done ~3k miles ago, and from what I could tell the thing was pretty unmodified (carbon air intake and exhaust), thats also when the change of ownership took place, wonder if he was planning on blowing it to the moon but it just sat? Thanks for the intel on the Z51 comfort as well, I was fully intending on updating the interior with some nice touches anyways (including seats), so I'm less worried about that.

So is this something worth playing around with if the price is right? (Also whats the "Right Price"?) 12k for a comparable spec would put this one at ~10k...

 

It looks decent enough on the outside, so I'd say 11K max, and that is if all else checks out, no wrecks and steering and brakes easily fixed.
There are lots of other cars around for sale, I found mine on facebook marketplace, keep searching.

 

Some people just spend money like me. I have an RPM stage 2 diff 3.73 gears and yank 3200 stall. Nothing was wrong with my 3.15 gears, I’m just enjoying my car, love the gears and converter, I’ll do my trans when that goes. And a stock replacement is probably like 500 dollars cheaper than a built trans like an RPM trans, I think I’ll go with the RPM.

offer still is the same, if you want to check my car out.

 

Beast - I feel like you probably take better care of yours though

And agreed LTN - I just gotta be patient, not one of my strong suits...

 

If I were in your shoes I'd find one that's been inside a garage its whole life. Preferably unmodified or maybe with simple bolt on mods.
With a budget of $15k you could find a pretty nice one. Might have to travel to get it but that's not a big deal (to me).

 

Not a bad car but for just a little more you can get less miles and no needs to be repaired.

If they would come off the price some then yes and if you can do the work yourself. But there are tons of lower like cars with no mods and less needs for $2-3K more. That $2-3K will not for in repairs but it will go far on a better car.

 

#1 - have a friend teach you to drive stick
#2 - find a manual car. A sports car.

Any automatic? Any price given? Drop that by at least $4k right now. This is the OFF season and nothing is really going to sell quickly again until March or so.

I also say this not just for the humor, but the manuals are far stronger drivetrains than the automatics. Not just more fun, but more durable.

 

Be cautious, all that glidders isn’t gold. Looks pretty but rehabs beat up a little if tranny is skipping. Why are seats covered up? 80 K seats should be decent. Future tranny works pay 8500.00 or buy one without mods and issues.

 

C5s came in 2 generations. Similar, but with some important differences.
1997-2000 ABS can be trouble. the modules sometimes fail, and are generally not rebuildable.
01 up the ABS modules still fail (common) but can be repaired. The function is supposedly better too, but I don't know that for a fact.
01 up also has a smidge more HP.
For sure, have it inspected at a shop. Try to find a Corvette specialist, or at least a performance shop of some kind.
The dealership isn't likely to be looking for the kind of things you'd want to know. Typically, their used car inspection is aimed at newer cars already taken in on trade. I could elaborate...
If it wanders under braking, suspect there will be play somewhere in the suspension. The rubber bushings migrate out of their homes, and that might be a labor-intensive (pricey) repair.
Automatic C5s grow on trees!
Currently looking for another stick... few and far between, and more expensive.
Take your time, and don't be afraid to spend a little extra for something nice. It'll pay dividends!
Have it inspected before you buy it, regardless. Can't count how many 'Post' Purchase Inspections I did at the shop. They generally didn't turn out so well...

 

What you want to target is . . .

The Lowest Milage Unmolested Garage Queen Out There . . .

They can be found ~

Check out every Chicagoland's Corvette Club's Web Site's " For Sale Section "

Someone is moving on from their cherished C5 to keep up the Joneses who also moved up to a C8 with their 401K Gains . . .

Be Patient . .

With Winter Ahead . . . Demand and Prices locally will drop into your " Sweet Spot " price range

Enjoy the Hunt !

This Section's VAST History of Threads will give Knowledge . . . Spend Time Reading 'em

Knowledge is Power ~ Know what the C5's Strong Points are and It's Age Related Weaknesses

Good Luck and hAppy Hunting !