Buying First New Vette

[cerberus]

I'm new here, and have some questions regarding buying my first Vette. I'm thinking that with the C6 hitting the lots, that the price of C5s should fall, especially used ones. So.... what I want is any year C5 (prefer polished 01 or newer wheels though), 6 speed, less than 25k miles, in Torch Red, Electron Blue, Yellow, or Black. I don't want a clunker, or something that has been run too hard without being maintained well.

I don't intend to buy until fall, when my "practical" bad weather machine (Toyota Tacoma 4X4) is paid off. Fortunately, this will also be when the C6's get here. Do you think that when that happens, I should be able to get what I want in the 23k to 27k price range? I see them for that now, but with much higher miles....

Or, should I pay the extra and pick up a new 04 C5 (there should be good deals there too)?

Next, where should I buy? I'm in the Kansas City area, but would be willing to travel. I've also investigated some of the online resources for procuring a Vette, but am still a little leary.

Finally, is the extended warranty a necessity?

Thanks in advance for any advice or opinions.

 

[Erik S. Klein]

I'd say you'll see some pretty significant price drops on new and used C5s as the C6s start hitting showroom floors.

Dealers will want to clear out C5 inventory to make room and you'll probably be able to negotiate a very nice price (10-15K off of MSRP shouldn't be hard) on any new C5 except maybe the Z16 (commemorative Z06.)

The used cars will probably also lose several thousand dollars in value from current prices as soon as C6s begin delivery.

The extended warranty is up to you. I usually think of them as a way for dealerships to make more money, but they do provide a peace of mind. . .

 

[cruzer99]

I think there might be a little softing of prices on C5's driven by a lot more to chose from because of the C6 trade-ins. If you wait until the C6 is being delivered your selection will be limited on new C5's but a good selection of used ones. Buy the color and model you want be it a new or used (most owners take very good care of thier vette), and yes get an extended warranty if you plan n driving it. I have a friend that has the factory extended 5 yr 50K on his 2K and only has 14K miles so far so his time will runout long before he hits 50K miles. Good luck

Save the wave.

 

[1995 RedVette]

You will be able to find a car in your price range. About a month ago, a family friend (I have bought three Vetts from him) had a 2000 Vert 6spd all options for $26,900 around 45,000 miles. His son had bought the car new and used it as a daily driver. He was selling it to buy a 2001 Z06 with 7000 miles.

Brett

 

[IH2LOSE]

Finally, is the extended warranty a necessity?
I personally would not own a modern car with out it having a warrenty on it.My C5 has just under 8,000.00 miles on it and its just over 2 years old.I am going to be purchasing a 5 year 40,000.00 mile G.M. warrenty.

Although I dont like to bring my car into G.M. dealer for service (they normally destroy more then they fix I know this personally)The cost's of the repairs on these cars are out of control.

Good luck with your purchase.

P.S. I was delaying my purchase looking for a bigger and better deal I wished I would have purchased it the year I decided I wanted one.It really is a great car

 

[Edmond]

You also have to factor in that some C4 owners may jump to a C5. Then again, there have been so many C5's that have been made; the supply should be more than enough. That was my initial thinking; that I would jump to a C5 later this year. But I decided that building my C4 for more power would be cheaper; because that's all I really wanted was more power.

Is the extended warranty worth it? I would say yes. My father bought the extended warranty for his Yukon last year. I know it's not a Vette', but even as handy as we are with working on cars; you just can't do some things that are computer related or too complex for the shade tree mechanic. He had a head gasket leak and they replaced it for him under the extended warranty.

 

[cerberus]

Thanks for the replies. How about where to purchase? I look in the local classifieds, and there is a Corvettes only specialty dealer in the KC area. Other than the obvious sunny weather states, are there any particular geographic areas where vettes are more plentiful, and therefore, cheaper? What about thevettenet.com and other sites like it?

Just trying to do as much pre-purchase leg work as I can to ensure I get the best buy for my dollar.

 

[Trigger Creep]

The warranty is a necessary evil. With all the computers and new tech, it just costs too much to repair. Even a few minor issues make the warranty a good gamble.

Remember, Warranty prices are negotiable. Any GM dealer can sell you a GM warranty on your car. Ken Fitchner Chevy sells them as cheaply as I have found. I asked my dealer to beat the price and bought from them.

A lot of folks have bought from www.thevettenet.com. I'd figure KC would be just as good a location for Vettes as would be Atlanta. With the C6 coming out, this will be a good time to buy a C5. Don't count out a 2004 model. The dealers are giving big discounts at this time of year. Maxie Price (ATL) and Kerbeck (NJ) should give you a deal over the phone and deliver to your doorstep.

 

[Vettelt193]

Back in late 96/97 when the C5 came out, the demand was so high on the C5 that the prices were high too... What happend is the C4 prices actually went UP, not down like people expected. You could have walked into a showroom in 1996, bought a corvette at a huge discount, taken it home and let it sit for a couple of months, then sold it for more than you paid for it.

Think of the C5/C6 this way. If you compare a new C5 for $50k sticker Vs. a C6 for $50k sticker: The C5 will probably sell for $40k (or bit less) with the deep discounts that dealers are offering right now... the C6 will sell for $50k (or more).

That means you already have your depreciation for the first year built in to a 2004 C5 (including driving it) if you purchased today. If you bought one and didin't drive it, I *think* the value may even go up a bit (although tax, tag, title, and loss of using the money elsewhere would negate any increase)

The bottom line is, I think C5 values will prove to hold steady for the next year to 2 years, simply because the C6 will cost more to drive off the lot.

 

[Bob Chadwick]

The dealers are giving big discounts at this time of year. Maxie Price (ATL) and Kerbeck (NJ) should give you a deal over the phone and deliver to your doorstep.

Maxie Price looked to have 50 or so Vettes on their lot when we drove by on Sunday.

 

[cerberus]

Sounds like the sooner I bought the better, but finances dictate that October/November will be the time. Good to hear some positive feedback on the online vette finders/dealers, as I think that's a great way to find "just the right car" instead of settling for whatever you can find locally.

I won't wish my life away because my mother advised it's best not to, but I sure am looking forward to seeing a vette in my garage. It's such a great feeling to have a vehicle that puts a smile on your face even if you're only going to the post office.