Vette buying, what is the mileage worth?
04-23-2018, 11:18 AM
#21
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YEP! Completely dismissed the claim and GM apologized for the loss. The dealer crated up the engine and sent it back to GM without allowing the owner to inspect it for internal damage and handed him a bill for $8000.00 before they would release the car. Never heard anything from GM again. 
04-23-2018, 01:04 PM
#22
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YEP! Completely dismissed the claim and GM apologized for the loss. The dealer crated up the engine and sent it back to GM without allowing the owner to inspect it for internal damage and handed him a bill for $8000.00 before they would release the car. Never heard anything from GM again.
NSF
04-23-2018, 08:32 PM
#23
Pro
04-23-2018, 10:49 PM
#24
Race Director
I think what a lot of people neglect is that the normal 10k miles per year is a lot for most corvettes. I would say normal mileage for a vette is like 3k a year.
04-24-2018, 03:08 AM
#25
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04-24-2018, 07:44 AM
#26
Race Director
I'd be in that showroom discussing the issue at the busiest time of sales.
I'd get that broken ipengine returned within the day.
Pick the path of a lawyer or a showroom visit and the owner will get satisfaction..
They don't want to cover a broken engine..,that's their right ...which I also disagree with...but no returning the broken engine would be cause for a fire storm in my mind.,
Otherwise have them cut a check for the removed engine pronto
04-24-2018, 03:14 PM
#27
Racer
The thing i have not seen addressed regarding mileage was the fact that 20k city miles equals 3-5 x more engine Hours than 20k hiway miles. If you apply this to some of the problems the low mileage cars are having you may make better sense of it. This is the reasom aircarft have Two different hour meters, airframe and one for Each engine.The questions when buying needs addressing the cars Normal use, city, combo, or hiway. The drivers seat will be some hint to hours used.
04-24-2018, 03:41 PM
#28
Burning Brakes
YEP! Completely dismissed the claim and GM apologized for the loss. The dealer crated up the engine and sent it back to GM without allowing the owner to inspect it for internal damage and handed him a bill for $8000.00 before they would release the car. Never heard anything from GM again.
Did he request the return of the parts (engine)? Most state laws require the return of any parts to the consumer if requested.
04-24-2018, 03:47 PM
#29
Pro
It is subjective. If you value a lower mile car you will likely be more satisfied buying one. The market sets prices and places a premium on low miles, but the individual buyer places the value on whether or not that premium is worth paying.
I value $ spent/return on fun factor above all else and that's what I looked for when I bought my 11' GS vert. I set a budget I was willing to spend and I believe was lucky to find what I did. It was priced well below what I was planning to spend on a car, was the color I was looking for, a manual and 3lt. BUT, 83k on the odometer. According to the Carfax the first owner drove it 80k miles in it's first 3 years. Looking at comparable at the time (very hard to find btw), I est. I saved roughly 10k dollars compared to a low mile car. I'm fine with that.
I value $ spent/return on fun factor above all else and that's what I looked for when I bought my 11' GS vert. I set a budget I was willing to spend and I believe was lucky to find what I did. It was priced well below what I was planning to spend on a car, was the color I was looking for, a manual and 3lt. BUT, 83k on the odometer. According to the Carfax the first owner drove it 80k miles in it's first 3 years. Looking at comparable at the time (very hard to find btw), I est. I saved roughly 10k dollars compared to a low mile car. I'm fine with that.
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04-24-2018, 03:50 PM
#30
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04-24-2018, 06:45 PM
#32
Instructor
Been looking to get back into a C6. Will be parked outside in the driveway and used only occasionally. Looking at 05-09. These cars are now 9-13 years old. The prices vary, but, I found that the lower mileage cars are priced much, much higher than the normal or even high mileage cars. The issue I have is the Corvette has been fairly reliable mechanically. The big flaws are the clutch problems, the cracking gas tanks, AT shift linkage, the seat issues, and leaking seals. All these problems appear whether or not the mileage is low or high.
So, just how much is the mileage worth since most cars are out of warranty anyway??
So, just how much is the mileage worth since most cars are out of warranty anyway??
04-24-2018, 07:52 PM
#33
This is just my personal opinion, but I think any car with 150+k miles is a parts car. And, I would not be interested in ANY car with more than 100k. I like reliability too much to deal with issues that can be found in these categories.
I could save a bunch by buying a 100k mile car but it would only take one expensive engine or transmission job on this 100k mile car to eat up anything I saved in the purchase price. The price would have to be bargin-basement level before I'd take a chance on it.
I could save a bunch by buying a 100k mile car but it would only take one expensive engine or transmission job on this 100k mile car to eat up anything I saved in the purchase price. The price would have to be bargin-basement level before I'd take a chance on it.
Last edited by RobJoy; 04-24-2018 at 08:00 PM.
04-25-2018, 12:00 AM
#34
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This is just my personal opinion, but I think any car with 150+k miles is a parts car. And, I would not be interested in ANY car with more than 100k. I like reliability too much to deal with issues that can be found in these categories.
I could save a bunch by buying a 100k mile car but it would only take one expensive engine or transmission job on this 100k mile car to eat up anything I saved in the purchase price. The price would have to be bargin-basement level before I'd take a chance on it.
I could save a bunch by buying a 100k mile car but it would only take one expensive engine or transmission job on this 100k mile car to eat up anything I saved in the purchase price. The price would have to be bargin-basement level before I'd take a chance on it.
Engine/trans failures don't have time or mileage requirements. While aftermarket warranties are available, they start at the price of a new transmission.
The bottom line is the price you pay is a reflection of the assumed/perceived cost of repairs and wear for the time you intend to use it, less the residual value at the end. If you really think about it, that's pretty much the opinion you just stated.
IMHO with my 152K mile parts car.
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04-25-2018, 11:21 AM
#35
Pro
The bottom line is the price you pay is a reflection of the assumed/perceived cost of repairs and wear for the time you intend to use it, less the residual value at the end. If you really think about it, that's pretty much the opinion you just stated.
IMHO with my 152K mile parts car.
IMHO with my 152K mile parts car.