To buy or not to buy Z06 C5??

[vettecor]

Hey guys,

I have tried to find the specific part of the forum to post this but had no luck and then i found this which looks quite useful, i have been looking into getting a Corvette for years but so far i haven't gone and done it they have been one of my favorite cars for a long time now, it was about time i got one then the other day i stumbled across one on a classified ads Corvette Z06 C5 2004 for sale site, at the moment it is at auction that's why i am here to find out how much i should be paying for the Corvette some specs below...

SPECS
Condition: Used
Transmission: Manual
Body Type: Coupe
Options extras: CD Player, Leather Seats
Safety Features: Anti-Lock Brakes, Passenger Airbag, Side Airbags
Sub Model: Z06
Number of Cylinders: 8
Year: 2004
Mileage: 48,150
Drive Type: RWD
Power Options: Air Conditioning, Cruise Control, Power Locks, Power Windows, Power Seats
Fuel Type: Gasoline
And over $12,000 spent on custom extras

So the starting bid is at $23,600, from the specs you have read and the car is used but in good condition what price should i start at and what would you all finish at?? Whats the max price you would pay for one of these is it's condition??
Also any maintenance information would be great!

Example image below



Thanks for any advice guys!!

[SS 1LE]

I had a C5 Z06 for over ten years, just sold it about a year or so ago. Mine was a full on track car for it's last five years, and was my weekend car for the first half. I know these cars like the back of my hand. They are very good cars, probably the best track car for the money you can get ahold of. Pretty easy to drive fast if you have even moderate experience, bullet proof engine, decent rear/transaxle, stock clutch/shifter is kinda crappy, lots of parts out there too.

The car you show is nice from what I can see, but his starting price is too high. I know two people who have bought one of these over the past six months, nice lowish mileage ones can he bought for low 20's...what did he spend "$12,000" on? None of that is listed...and all I see are black wheels (cheap), a 1980's style bra (cheap) and mud flaps (cheap).

[lkurek]

Originally Posted by SS 1LE

...what did he spend "$12,000" on? None of that is listed...and all I see are black wheels (cheap), a 1980's style bra (cheap) and mud flaps (cheap).

Yeah....that $12K in mods line would make me wonder too.... Typically, modding a car reduces its resale value. Unless it was done by a "name" like Lingenfelter, Hennessy, etc. YMMV....but you really need to do your homework to see if the mods were done professionally or by a poser. If they are things that you would have done anyhow.....ie headers, good clutch, brake upgrade, etc.....then it might be a good value. You have to look at it in person and not sight unseen

IMO

[h422694]

According to KBB, the car in good condition is worth about 20K. Options generally don't get much of the original price back.
Options that were added as appearance items maybe get 20-25% of the original cost. This would be like the front bra, cover, etc..
Items that were purchased to replace original items are normally calculated a little different. You need to take the cost of the new item and subtract the price of what the original item cost. Example would be the wheels. If the new wheels cost 2000 and replacement cost of originals were 1200, the difference added to the value of the car is the 800 and then would be worth the 20-25%. People will argue this but the car has to have wheels, it had them new, and replacing them did not add the total cost to the car.
On the information provided, I would guess the value of the car is approx. $23K. 20K on the car based on Kelley Blue Book and 3K for extras.

[vettecor]

This is some really good input guys thanks! it is good to know the seller is trying to make it sound better by adding the options he added to the Z06 and that it really does not add value to the vehicle!

But you also have a lot of good things to be said about the Z06 which makes me feel great! i will arrange a meeting with the seller and do some interrogation and see what i can find also a test drive while i am there

I will get back to you soon

Thanks!!!

[MrChrisLS3]

$23K for a C5 z06 with 48K miles seems kind of steep to me, even for a pristine example. Not sure what the "custom extras" are. They could be performance mods, which might mean that those 48K were 1/4 mile at a time. Or they could have opened up the Mid America catalogue and ordered every piece of shiny chrome they had. Either way, unless I knew the previous owner and had personal knowledge of the build, I would stay away from modified Corvettes, they can be like a box of chocolates.

[vettecor]

Originally Posted by MrChrisLS3

$23K for a C5 z06 with 48K miles seems kind of steep to me, even for a pristine example. Not sure what the "custom extras" are. They could be performance mods, which might mean that those 48K were 1/4 mile at a time. Or they could have opened up the Mid America catalogue and ordered every piece of shiny chrome they had. Either way, unless I knew the previous owner and had personal knowledge of the build, I would stay away from modified Corvettes, they can be like a box of chocolates.

Now you have me on edge i am really going to have to get in touch with this guy and see what he has done to the Corvette, i like the box of chocolates reference!! haha full of surprises

right i am getting onto him today and see what he says

Thanks again guys

[BMR Sales]

Way too high on the price. I just looked at one that was about the same miles and the owner is going to have it painted before he sells it - I could buy it with the paint as-is for $10k

[LesserO2Evils]

That is too high. It, as it stands, is a $19-20K car, Id say. Ive owned a few.
Great cars. Loud as hell inside, rough riding, aging interior. But fast and precise handling.