1998 with 117,000 miles ?

[89blackvette]

I am considering purchasing a 1998 C5 coupe, ls1 with automatic that has 117,000 miles on it. It has been serviced very regularly by Chevrolet dealer and spent first 10 years as a lease car. Asking price is $13,500.00. Do you think that is to many miles and does price seem in line? Car looks great outside and inside and seems to run like new. Thanks for your replies.

 

[Tuna]

The mileage would not concern me if the car has been well maintained and is otherwise in good shape.

Anytime you buy a used car, think about the belts, hoses, fluids, tires and see if any need replacing.

 

[catbert]

The motor and other mechanicals are good for many more miles. That said, I'd pay a couple grand more for 40 to 50 thousand fewer miles. I'd drive a car on the downhill side of its' half life, but I wouldn't knowingly buy one, even at that good price.

 

[muddywaters]

Hi, Hey I have a 1999 Torch Red coupe for sale, all the bells and whistles, is new with 10,300 pampered miles, I'll take $19,500.00 for it, why buy a vehicle with 117,000mi when you can have an un used one for a few bucks more. I have all supporting paper work, it's a beauty....

 

[GS Diva]

I agree. There are many C5 Corvettes for sale with a lot less miles. I'd keep shopping.

Elaine

 

[89blackvette]

Thanks for your input.

I had to sell mu 89 6 speed convertible about 1 1/2 years ago because the company I worked for went down the drain. I spent 14 months unemployed and just found a job 3 months ago. I am 72 and finding a job for a geezer is tough. I miss the Corvette and decided what the heck it is time to get another one. I want to step up to a C5 so my wife can get in and out more easily, she had to fall in and out of the C4. My budget is somewhat limited to around 15 to 16 K. I would like to trade in my 1995 Lincoln Town Car Cartier to help with the price and financing. We have also missed the local Corvette Club, they have one rule "Own a Corvette and enjoy it." I think the miles on this one are a little high so I will keep looking. Perhaps I will find that mad woman that is getting divorced and selling her husbands Corvette cheap. I saw a Ferrari California recently with tad Number "WAS HIS". Thanks again for the replies.

 

[96gs917]

Congratulations on scoring a new gig. Its great to be employed regardless of your age. I think you can find a much better C5 than the one you mentioned.
$13,500, for a 117,000 mile car is much to high. I have a freind selling a 97 with 90,000 for $11,000. Keep looking, and enjoy the hunt.

Good luck

 

[Toms007]

Like Tuna said, if it was well cared for, I wouldn't worry about the miles so much. But the price is a bit steep for that one. There are lots of C5s out there and you should be able to find one that suits your needs and pocketbook.

 

[Man In Black]

I am considering purchasing a 1998 C5 coupe, ls1 with automatic that has 117,000 miles on it. It has been serviced very regularly by Chevrolet dealer and spent first 10 years as a lease car. Asking price is $13,500.00. Do you think that is to many miles and does price seem in line? Car looks great outside and inside and seems to run like new. Thanks for your replies.

I would never consider buying a rental or a lease car , especially a Corvette unless you plan on beating it also and the price is cheap. I heard too many guys say that they rent a high performance car and beat it into the ground. Something to think about. Could be trouble.

 

[muddywaters]

I would never consider buying a rental or a lease car , especially a Corvette unless you plan on beating it also and the price is cheap. I heard too many guys say that they rent a high performance car and beat it into the ground. Something to think about. Could be trouble.

I would have to agree with you on that,,,,,,,,,

 

[KANE]

I am considering purchasing a 1998 C5 coupe, ls1 with automatic that has 117,000 miles on it. It has been serviced very regularly by Chevrolet dealer and spent first 10 years as a lease car. Asking price is $13,500.00. Do you think that is to many miles and does price seem in line? Car looks great outside and inside and seems to run like new. Thanks for your replies.

I have an LT1 car, my Trans Am, and it 146k on it. Mileage isn't a concern- it's maintenance or lack thereof- that is problematic.


Is it a private owner or a dealer who has the car? If it is an owner, how many owners has the car had since it was off lease? Leased cars don't always mean they were abused. Many times, people lease a car because they don't want to own it. It's the demo cars that get beat on the worst!

Anyway... you may be able to bargain for less- and the longer the car sits unsold the more likely you may be to pick it up for around $10k. If the car is in good shape and you plan to garage it- which means you'll likely drive it on nice days, rack up fewer miles, etc- you should be okay. You just really need to have a good understanding of the car's mechanical history and how it was well it was maintained. Look at the fluids, rotors, and all other wear parts for symptoms and signs of abuse or lack of maintenance. Look for OBD history codes, check CARFAX, and have a GM dealer run it's VIN for repair history. FWIW- I've seen cars with fewer miles that were more abused than cars with higher miles- and then bought the lower mileage car and wished I had bought one that was better maintained. :eyerole

Good luck & enjoy the hunt!

 

[muddywaters]

I'll go with my experience with human nature and skip a rental Corvette with paper work......at any price...

 

[89blackvette]

C5

Thanks for the replies. Could you guys give some guide lines for a 1997 through 2001 C5? What would be the high end on mileage? I am looking for a coupe with automatic and live in south Georgia, what price range would be a good deal? Any short comings for the C5 that I should look for? Should I buy from a dealer or an individual? I know you guys are very knowledgeable and trust your input. I am not a well to do person and getting up in age and want another Corvette, sort of a bucket list thing. Thanks for your replies.Mike

 

[frankhamil]

My 2002 convertible has 157,000 miles on it, and the only problems I have are with some of the dash displays. I bought it in 2004 with 3,000 miles, so you can see, it doesn't sit much.
I drive it to Myrtle Beach (600 miles each way) three times a year, plus other trips. I'm going for 200,000 miles, minimum.

I'm just getting ready to have the chrome wheels powdercoated black. I love this car.

As to price, I doubt I could get more than $10,000 for it, so I'd say the price on the one you're looking at is a little high.

Good luck.

Frank Hamilton

 

[red and black]

kind of high

I just spent a bit over $20k for a 1998 with 6,000 miles. The presentation is what sold it and it was the fellows wife's car kept with his collection in a heated garage that was more living room than garage.

The only thing I would watch for with an automatic is the gearing. I believe most automatics came with the higher gearing so you won't get quite the same kick as with a 6 speed.

A dealer has to make a profit unless the car starts taking up real estate over a period of time. A private owner knows what the bottom line is and can take a loss knowing they had use of the car for 10 years. One of the things I would do would be to look up the Kelly and Edmunds dealer trade values to see what an owner might be offered but then that is misleading because it always depends on what it's being traded on.