When is it worth upgrading rather than restoring?
Thread Starter
Intermediate
Joined: Nov 2018
Posts: 43
Likes: 2
When is it worth upgrading rather than restoring?
I bought a 2004 C5 in rough cosmetic shape out of highschool and fixed small things over the years, radiator, AC system, headlight motors, seat covers on the stock seats, new exhaust etc.
Its been 8 years 100k miles now and I am planning on replacing the harmonic balancer and steering rack/pump since its been acting up this year.
In the process Ive been thinking about all the issues it has and how much it will cost me to fix. The Targa top is totally thrashed, the front bumper is cracked and scraped to hell on the underside, the paint is bad, the door panels are delaminating, the weatherstripping is leaking/ripped and the carpet is starting to come up in the back.
The carpet runs great but honestly I dont have time like I used to and Im wondering if it just makes more sense to sell this car and buy one in better cosmetic shape. If I was just doing track or auto cross I wouldn’t think about replacing it but this is my “nice” car.
thoughts? Either way I am gonna fix the rack and Balancer. At the end of the day I want to end up with a C5, seems dumb to sell a car just to buy the same car.
Its been 8 years 100k miles now and I am planning on replacing the harmonic balancer and steering rack/pump since its been acting up this year.
In the process Ive been thinking about all the issues it has and how much it will cost me to fix. The Targa top is totally thrashed, the front bumper is cracked and scraped to hell on the underside, the paint is bad, the door panels are delaminating, the weatherstripping is leaking/ripped and the carpet is starting to come up in the back.
The carpet runs great but honestly I dont have time like I used to and Im wondering if it just makes more sense to sell this car and buy one in better cosmetic shape. If I was just doing track or auto cross I wouldn’t think about replacing it but this is my “nice” car.
thoughts? Either way I am gonna fix the rack and Balancer. At the end of the day I want to end up with a C5, seems dumb to sell a car just to buy the same car.
Drifting
Joined: Sep 2022
Posts: 1,464
Likes: 1,135
Well, your title question asks about when is it worth restoring or upgrading.
A car is only worth "restoring" if there is some collector value, and most C5's have very little collector value, only some special editions fall into that category.
Upgrading is a different matter, upgrading is for a car you like a lot and want to keep and make it better.
On a 2004 C5 with very high miles, if it's in pretty good shape, is a 14 grand car at best, so the question you ask yourself is if you can fix it up without tying up a lot more money than that, or you don't care what it's worth and you just want to do it.
A car is only worth "restoring" if there is some collector value, and most C5's have very little collector value, only some special editions fall into that category.
Upgrading is a different matter, upgrading is for a car you like a lot and want to keep and make it better.
On a 2004 C5 with very high miles, if it's in pretty good shape, is a 14 grand car at best, so the question you ask yourself is if you can fix it up without tying up a lot more money than that, or you don't care what it's worth and you just want to do it.
Le Mans Master
Joined: Feb 2021
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From: Florida
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I bought a 2004 C5 in rough cosmetic shape out of highschool and fixed small things over the years, radiator, AC system, headlight motors, seat covers on the stock seats, new exhaust etc.
Its been 8 years 100k miles now and I am planning on replacing the harmonic balancer and steering rack/pump since its been acting up this year.
In the process Ive been thinking about all the issues it has and how much it will cost me to fix. The Targa top is totally thrashed, the front bumper is cracked and scraped to hell on the underside, the paint is bad, the door panels are delaminating, the weatherstripping is leaking/ripped and the carpet is starting to come up in the back.
The carpet runs great but honestly I dont have time like I used to and Im wondering if it just makes more sense to sell this car and buy one in better cosmetic shape. If I was just doing track or auto cross I wouldn’t think about replacing it but this is my “nice” car.
thoughts? Either way I am gonna fix the rack and Balancer. At the end of the day I want to end up with a C5, seems dumb to sell a car just to buy the same car.
Its been 8 years 100k miles now and I am planning on replacing the harmonic balancer and steering rack/pump since its been acting up this year.
In the process Ive been thinking about all the issues it has and how much it will cost me to fix. The Targa top is totally thrashed, the front bumper is cracked and scraped to hell on the underside, the paint is bad, the door panels are delaminating, the weatherstripping is leaking/ripped and the carpet is starting to come up in the back.
The carpet runs great but honestly I dont have time like I used to and Im wondering if it just makes more sense to sell this car and buy one in better cosmetic shape. If I was just doing track or auto cross I wouldn’t think about replacing it but this is my “nice” car.
thoughts? Either way I am gonna fix the rack and Balancer. At the end of the day I want to end up with a C5, seems dumb to sell a car just to buy the same car.
The paint is the most expensive thing, and there are plenty of nice cars out there. You might benefit from checking into the cost on a paint job, and make your decision based on that.
Melting Slicks
Joined: Dec 2000
Posts: 3,280
Likes: 1,097
From: Pittsburgh PA
Only you know what you can afford. Sounds like to me you are tired of what you’re doing to your car. If you sold the car you have and buy a nicer version of a C5 I’m sure you’ll enjoy it and not worry about problems. It’s difficult for me to tell you what to do because I own a 28 year old C5 that I have owned every mile. I have only done what I wanted to instead of what I have had to do. I still throughly enjoy my car every time I drive it. There are still very nice examples of the C5 that you can get into and enjoy instead of worrying about it. Good Luck with your decision.
Thread Starter
Intermediate
Joined: Nov 2018
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Likes: 2
Only you know what you can afford. Sounds like to me you are tired of what you’re doing to your car. If you sold the car you have and buy a nicer version of a C5 I’m sure you’ll enjoy it and not worry about problems. It’s difficult for me to tell you what to do because I own a 28 year old C5 that I have owned every mile. I have only done what I wanted to instead of what I have had to do. I still throughly enjoy my car every time I drive it. There are still very nice examples of the C5 that you can get into and enjoy instead of worrying about it. Good Luck with your decision.
It is definitely hard to say. Taking the $10,000 and putting it into a better condition C5 is the smart thing to do but I am hesitant to do it since most of the expensive issues are cosmetic.
its one of those issues where when the car is sitting I want to sell it, but as soon as its driving and I am having no issues I dont care what it looks like.
Ive always wanted an FRC so I guess I’ll fix the steer rack and then decide
Le Mans Master
Joined: Feb 2021
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From: Florida
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It is definitely hard to say. Taking the $10,000 and putting it into a better condition C5 is the smart thing to do but I am hesitant to do it since most of the expensive issues are cosmetic.
its one of those issues where when the car is sitting I want to sell it, but as soon as its driving and I am having no issues I dont care what it looks like.
Ive always wanted an FRC so I guess I’ll fix the steer rack and then decide
its one of those issues where when the car is sitting I want to sell it, but as soon as its driving and I am having no issues I dont care what it looks like.
Ive always wanted an FRC so I guess I’ll fix the steer rack and then decide
Figured I might as well muddy the waters, lol.
Drifting
Joined: Sep 2022
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Burning Brakes
Joined: Nov 2013
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I'm not sure you have a $10k car op. Bad paint with body damage and over 100k mi
since most sales are based on cosmetics- probably a hard sell at 10k
but let's say it is $10k. And let's say the car you want to replace it with is.... 20k
can you fix what you don't like about your car for that 10k delta?
since most sales are based on cosmetics- probably a hard sell at 10k
but let's say it is $10k. And let's say the car you want to replace it with is.... 20k
can you fix what you don't like about your car for that 10k delta?
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Burning Brakes
Joined: Feb 2000
Posts: 776
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From: Middleton, Id
Were it me I'd sell it then get a nice FRC. You said you don't have the time to fix this one up and you want a nice car. It'd take more then the difference between what you'll get for your current car and the one you want to fix it to your standards. Plus you'll have the fun of looking for exactly what you want. Drove my 98 today for the first time in months today and forgot how much I like it, It has about 90.000 on it but looks like new in and out and I like my stuff to look good. Get that cool FRC!
Le Mans Master
Joined: Feb 2021
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From: Florida
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Melting Slicks
Joined: Mar 2023
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From: North Coast
Your best value is to buy a lower mile clean car that needs little work. A good paint job can be well over $10K today. That is before you do anything other work like body repair and part replacement.
This applies to many cars today even of collector value. I have seen GTO's sold for $50K that have $80K in restoration. Today with the number of low mile C5 cars you are much better off shopping for a good solid clean car and sell the other or use it for parts. If anything you could part it out for more than you may get whole. You would need to determine this as I have not seen the car but based on what you say it needs much.
A low mile coupe can be had for just under $20K today and it will not be modified and altered. This way you know what you are getting.
Even if you want another C5 it is not dumb to sell and buy a better one. It is the most fiscally responsible way to improve a car in all areas. You could even look at some C6 models as their prices are coming down too.
Below is a dealer asking $19K for a 2000 coupe 26K miles. I am sure they would come down on the price from there too. Just something to consider. Add up what you need on your car and fix it you still have a high mile car with low value. You can get a car like this for just a little more and have a near new car.
https://www.cargurus.com/details/438...ting=438170039
This applies to many cars today even of collector value. I have seen GTO's sold for $50K that have $80K in restoration. Today with the number of low mile C5 cars you are much better off shopping for a good solid clean car and sell the other or use it for parts. If anything you could part it out for more than you may get whole. You would need to determine this as I have not seen the car but based on what you say it needs much.
A low mile coupe can be had for just under $20K today and it will not be modified and altered. This way you know what you are getting.
Even if you want another C5 it is not dumb to sell and buy a better one. It is the most fiscally responsible way to improve a car in all areas. You could even look at some C6 models as their prices are coming down too.
Below is a dealer asking $19K for a 2000 coupe 26K miles. I am sure they would come down on the price from there too. Just something to consider. Add up what you need on your car and fix it you still have a high mile car with low value. You can get a car like this for just a little more and have a near new car.
https://www.cargurus.com/details/438...ting=438170039
Racer
Joined: Mar 2021
Posts: 255
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From: Maryland
I have a friend that used to say "Better the devil you know than the devil you don't" , I think it applies to used cars pretty well haha.
Burning Brakes
Joined: Jan 2021
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From: SW Desert
Melting Slicks
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From: North Coast
Burning Brakes
Joined: Nov 2013
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it had a blown motor, but that's easier to fix than repainting a car and sourcing interior parts. Way cheaper than paint too
I could have easily had my Z on the road for under 10 if I hadn't been obsessed with my "rebuild the everything" philosophy
So, I'd say a car with wrecked paint is worth 10, max. Is that better? But it's gonna take a special buyer to agree. Someone who A) doesn't care or B) has a lot of talent and time to repaint
Race Director
Joined: Oct 2004
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You obviously got a good deal....For YOU. A painter that doesn't have engine rebuilding skills wouldn't touch a car with a blown motor if he had info on a Z06 with a good drivetrain but needed paint and body work. When did you find your Z06? I'm talking about a decent condition, drivable car, not one that needs a new engine. Of course that car wouldn't be worth 10k, at least to me.....
Burning Brakes
Joined: Nov 2013
Posts: 1,170
Likes: 526
February 2019
and you are correct, just as I wouldn't touch a car that needed an interior rebuild or paint work- not everyone would touch a car with a hurt motor
but I can go 0-hero in a weekend on a motor. No way you're prepping and painting a car in 20hrs of labor
and you are correct, just as I wouldn't touch a car that needed an interior rebuild or paint work- not everyone would touch a car with a hurt motor
but I can go 0-hero in a weekend on a motor. No way you're prepping and painting a car in 20hrs of labor
Le Mans Master
Joined: Oct 2004
Posts: 7,706
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From: Everett WA
C4 of Year Finalist (appearance mods) 2019
Unless you have a very strong emotional attachment to that particular vehicle it's probably going to cost more to bring it up to the level that you sound like you want and particularly if you don't have the time to work on it. Be sure to factor in the effort it will take to find a nicer 20+ year old sports car that has proof of being well maintained. Enjoy the journey.
Safety Car
Joined: Nov 2013
Posts: 3,573
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From: Ex DPRK, now just N of Medford, OR
There are a zillion of 'em below $10K, and some don't look too bad.
Most are automatics, and beaters that sound like the OP's ask at the $6500-$8K range. Later model years typically ask more cash than equivalent condition but lower mileage earlier cars.
Almost all are cosmetically distressed; mechanically challenged ones ask less. Convertible/auto trans beaters are practically free....
Later MY stick shift, cosmetically challenged ones seem to bottom out around $10K, but do occasionally show up lower.
I should've snagged that one in Yreka at $7500....
Rather than try to restore something that's in rough shape, the OP will be better off financially to sell it and buy something nice.
All the little details involved in bringing one back to 'Really Nice' will cost a fortune, and take a lot of time.
Could be enjoying something nice that whole time instead.