mstead91

Hello All! New to the forum, but life long Corvette enthusiast. I recently sold my 74, 4 speed and am now in the market for a C5. I recently came across an 01 Z06, silver car with flood branded title. After a VIN search I was able to determine the car was declared a total loss in 2015, the car was flooded in Texas. The current owner is in a tight financial situation and forced to sell. I'm sure I can get the car for a very reasonable price. My question is, what might that be? It is very difficult to price a car with a flood title. For what its worth, the car is beautiful with 85xxx miles. The seller assures me they have had no issues with it. It was apparently purchased from a dealer that routinely purchases flood cars and brings them back up to spec. I was told the water level was very low and all electronics were replaced. Any advice here is appreciated! I love a deal, but do not want to buy a headache.

itsslow98

I'd say 10k but know that it's still a gamble. Resale will always be hurt because of it as well and 01s were known for oil consumption issues as well.

mstead91

Thank you for the reply! 10k is a number that jumped in my head as well. I may try for closer to 9, I feel at that price there's no going wrong. any sure fire ways to check for the oil consumption issue? I apologize if this seems like an extremely novice question!

ASRoff

nope no way to check without driving it... you check the oil level every time you fill the car up with gas.... they are kind of like saturns... some use oil some don't... its a ring issue GM tried to use a really thin ring set to reduce engine friction... same with the saturns.. as far as buying a flood car... If you are good with chasing down electrical gremlins you will be fine... Id get a GENUINE Tech 2 Gm scanner for the car if you go this route... (not a Chinese knock off tech 2..)

Acid666

I'd lowball them even lower. Seriously. Start at $5K. Tell them your max is $7K.
They're going to have a REALLY difficult time selling that car and if he's hard up for cash, he'll eventually bite due to having no buyers.

Lingenfelter

I had electrical problems on my VW Scirocco years ago, mechanics and electricians didn't know and did not even want to try to fix it. This could be a nightmare for you, I'd stay the hell away.

Moto One

Give the guy a fair price. Why kick him when he is down? The karma could comeback and bit you for lowballing him. Also for oil consumption, it's a 17 year old car it's either been taken care of or never had the problem. By the way all Zs suck some oil when driven hard.

Mark.

hellbents-10

I have had good and bad luck with flood cars. If it has been driven for some time then signs are you will have better luck. If everything is just now fixed with no time on it then you might be chasing problems down the road. I have seen a couple go for about 10-12k like you describe.