When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
I'm really on the fence, I've had my C5 for several years and my plan was basically to enjoy the car until the value gets to be equal with what I've spent. Long haul, I know. But we have cars with heritage, and that means something for value.
I've basically put $18k into this car restoring it to an excellent condition give or take a few things. But as I approach 180k miles the question of new engine comes up, but also flipping it and getting a C6.
c5s with this kind of mileage are going for what, $8,000? $10,000? but Mine according to my spreadsheet where I've logged every part and service tells me it's "worth" $28,000.
I've had the harmonic balancer replaced, the AC replaced, the water pump is new, the exhaust and cats are new, the shocks are new, etc. I've taken very good care of it, hand washed it, always did maintenance soon and everything is recorded.
Would it sound to you guys like its just a bad idea to sell? I feel like I have investment bias, I'm quite fond of this car and I fear what the typical buyer would lowball me to. Right now I would put it up for $22k.
BUT
I live in LA now, and I just got into a motorcycle accident, which is beginning to make that form of commuting unfavorable. If I hang up the helmet, I only have my high mileage C5 to commute in.
I was quoted around $15k for a new LS3 installed, but knowing the KBB I just can't do that. A rebuild sounds like I could handle it, but the most engine work I've done is install the water pump and before that, replace the fuel injectors on my previous car.
Do you think I can get $22k for it? or is replacing OEM parts not valued by buyers?
I would say $8-10K if you find the right buyer. I've seen Z06's selling for $15k with half your mileage. A lot of the C5's in SoCal with that mileage are selling for $5-9k.
Sorry bro but you ain't getting 22k for a high mileage base c5. I've seen low mileage c5s (50-80k miles) for 15k+.
I agree, with the addition that sellers are asking for $15k, but the cars actually sell for much less.
Corvette owners are proud of their cars, as are the OP. All it takes is one guy on Craigs List and elsewhere to post his car for $12,000. Then another proud owner looks at listings and thinks, "My car is better than that one and lists it for $14k" and the cycle repeats.
As a buyer who has purchased a C5 Z16 and a base coupe in the last 120 days I can assure you that the selling prices are 20-30% less than what you see most cars listed for. Some are even more outrageously priced. KBB has a better handle on actual selling prices vs. listing prices.
Let's assume you think you can get $22k for the car. Yet, you are concerned yourself about driving a car as a daily driver with 180k miles. A new LS3 install is $15k. The new buyer would conceivably have to pay $22k + $15k for a total of $37k. That is not realistic.
What is more realistic is that your car is worth $22k, minus $15k for a new engine putting the price at $7k. I hate to be the bearer of bad news, but that is closer to the real value of your car. If your car is in really good shape with good tires, good brakes, good finish, etc. you can probably get a couple grand more than that.
If you are talking about the 98 listed in your signature, the top for it would be about $8000. This is being realistic. I don't think you could get this though, it would be where your asking should start at.
Your car as it sits if you keep up the maintenance will run easily another 75 to 100k.
For reference, my 2002 coupe with 160k is worth at most $10k (probably take the first offer over $8500) if I wanted to sell it now, which I have no plans of doing. I have done a lot of the same repairs, front and rear main seals, harmonic balancer, shocks wheel hubs, replaced broken interior plastics, etc. I have put over 8k in mods to it none of which have added any value (custom stereo, LED lighting, seats re-skinned, C5 Z06 sway bars, getting ready to do some exhaust mods).
That $18k you put into it is the cost of operation which you will never get back.
Gary
Last edited by SilverC54me; 09-05-2017 at 07:36 PM.
Unfortunately there are quite a few C5's for sale with half that mileage for around $12,000.
Z06 will go for $15-18k with under 100k Miles. You'll get only $7,000-8000.
Investment and C5 don't belong in the same sentence, at least for many more years. C5s are still falling in price, like each prior generation. IF we can still drive our cars and the market is similar to today's, only the very rare cars will bring any money.
I have a super nice C5 Vert, all black 6-spd (<70k) and high 17s was a dream, even as summer began. With the end of summer, the fun car market softens more. The feedback given so far sounds spot-on, to me.
I submit that if you sell the C5, you'll rue it, IF you are like so many prior C5 owners, who universally express such. Being unable to get what I have in the car, and I bought it right, I enjoy it much moire than expected, with the economy, fun value, performance and versatility (storage) and comfort.
I know C5s owners who are well above your odo's number and still rely on the car, with higher, but hardly killer costs.
As another bike rider, who's not been down (yet) there is no comparison in time involved trying to get somewhere on these increasingly packed roads on 4 wheels. Super-defensive driving, without any mental drifting has served me well, but I think about the daily bike accident press reports constantly, especially while cutting my travel time by 30-50%. Too many dumb-asses just aren't paying attention and enforcement of same is a joke.
Sounds like you neither need to sell now, or redo a functioning engine. That C5 may go another 100k easily, with minor $$ 'invested'.
I think I'm going to either refresh the engine, or pick up another C5 with a new engine and good paint and all that, then move any parts that I have, that are better, to that new car. Then sell the old one for the KBB value. That way I can also go Manual. Excellent input guys, thank you!
I think I'm going to either refresh the engine, or pick up another C5 with a new engine and good paint and all that, then move any parts that I have, that are better, to that new car. Then sell the old one for the KBB value. That way I can also go Manual. Excellent input guys, thank you!
That sounds like a lot of work, and you're swapping into essentially an unknown entity. If your car has been reliable for you (usual wear and tear excepted); I would rather stay with my car, as its its a known entity with respect to its history.
I would do the most cost effective motor refresh form a reputable shop; but at some point, you're going to have to stop throwing money at this car...retire it to light duty/weekends, or part ways.
Brian, you should easily be able to beat 15k for a new motor. I paid less for my LS3 416 Stroker installed. PM me if you want more info or thoughts. I am also contemplating selling my car....
Last edited by spiral04; 09-09-2017 at 12:22 PM.
Reason: Explanation
Get what you can for it and move on its a well maintained high mi vette
At least you got some use out of it, almost feel bad for the guys who believe due to a production# color whatever it makes theirs worth a ton and go out of their way not to drive it.
Some will shout forever how rare and valuable theirs is due to whatever color, option etc
Hey whatever makes them feel good but in the real world its a used vette.
09-05-2017, 02:00 PM
What do you think I could get for my C5?
