How much for 2002?

[tgreen]

I was out cruising in my 72 this past weekend and I stopped at a dealer that had a yellow 2002 coupe outside. It has only 2200 miles. 6-speed, head up display, two tops, etc. I took it for a test drive and was pretty impressed. Given what I have heard about C5 prices now that the C6 is out I was pretty suprised when the salesman told me they were asking $38,900. Is that kind of high right now or am I way off base?

Ted

 

[motorman]

I was out cruising in my 72 this past weekend and I stopped at a dealer that had a yellow 2002 coupe outside. It has only 2200 miles. 6-speed, head up display, two tops, etc. I took it for a test drive and was pretty impressed. Given what I have heard about C5 prices now that the C6 is out I was pretty suprised when the salesman told me they were asking $38,900. Is that kind of high right now or am I way off base?

Ted

i sold my 02 in feb for 35K and they are worth less now as you can buy a new 04 for less than 39K

 

[AmosF16]

Way too high!

I had mine on the market a short while back for $32K--pretty much the same car: 2002 Torch Red coupe, 6-speed, 9K miles, transparent top only rather than both, CD changer, HUD, dual power seats. So I think they are way out of line with the current market. OBTW, I had one (1) call on my car in 6 weeks. Not sure if it was because folks thought it was too high or too low--I was told some people won't call if they don't think it's expensive enough. Huh??? :confused

 

[kingman]

The right price?

The 2002 wholesale price is under $30,000 no matter if it has 2000 miles or 15,000 miles and l'm seeing 2001's going for 24-$25,000 if it's sold and not held back. Most used car dealers will not touch them until later in the winter if any show up at auction.

If a vette is traded in to a non chevy dealer, then this is the time to strike if the vette is right. In the lst 3 months the wholesale price on the 2001 dropped $4000.

But keep in mind that a dealer has to pay commission, prep the car, check it out and give some kind of warrantee. Oh and l forgot they have to make a profit. Also a GM dealer can arrange a better deal for an extended warrantee through GM rather then a fly by night outfit.

Your 2002 is worth on a private sale if it's as new and the right color based on where it's located between $31,000/$32,000.

The sad thing is that if the C6 wasn't released yet and GM didn't give the large rebates your vette would be worth in the high $30's for sure.

In my opinion l would hold onto it until the spring and by then the C6 hoopla will evaporate and the cheap 04's will be gone.

There are too many C5's out there for sale right now and as winter really approaches they will hole up in garages until the spring.

Alan

p.s. My buddy is a wholesaler and l wouldn't touch a vette on auction, l must see who drove it before l buy it. In many car-faxes you will notice that even chevy dealerships pick up vettes at auction because they make more money on them then most of their new autos.

 

[rkmason]

FYI, I just completed a deal on a 12.5K mi '02 Mag Red automatic coupe / 1SC package / both tops with a Chevy Dealer for $31988 w/no other "dealer fees" or other bogus dealer charges. The CarChex report says it's in like-new condition w/no warts (I will find out myself this weekend). The car is "GM Certified" which is probably mostly worthless, except it does extend the new car warranty for 3 months/3000 mi

 

[kingman]

RKMason

You happened to get a good deal and enjoy your new toy. As far as the warrantee from GM for 3 months it isn't worthless by far and being certified all that means is that they checked a certain number of things out.

If l were in your shoes l would contact GM and ask for an extended warrantee to be tacked onto your 3 month warrantee. Make sure that you tell them that it is a certified car. It might mean zero to you and l but they take this to heart.

The C5 is not without problems and they are not cheap so dig into your pockets now.

Alan

 

[hotmtrsports]

kingman: I agree with your post on pricing and wholesale, but the post after that???

rkmason: You got a fantastic deal for a 12.5K Coupe and the scare tactics from kingman aren't sound ones. The GM extended warranties are VERY expensive so don't just jump into it! Price it out first, then think about it while on that 3 month/3,000 mile warranty.

Geesh kingman, talk about trying to make a new owner feel uncomfortable about a great purchase. What's that about?

rkmason: Congrats on your new purchase.

Chuck

 

[kingman]

The GM warrantee can be negotiated to a reasonable price. I find that 90% of the aftermarket warrantee's are suspect as far as coverage and that an extended warrantee through GM is worth while if the car in question is resold while the warrantee is still going.

The C5 is a whole lot different then the 72 to work on, that's why l suggested the GM warrantee.

It wasn't my intention to scare him on his purchase, but to only help him think about protecting his investment.

We are here to help and not put down anybody, so l'm sorry if l offended anybody.

Alan

p.s. Again good luck with your new toy.

 

[tgreen]

I thought 38,900 was way too much for an '02 and you guys have confirmed my suspicion. About once a year or so I get a hankering for a different vette. Usually the sticker shock is enough to bring me out of it but now the C5 prices are becoming quite manageable. I think I am going to keep the 72 though. If I had more than a 1-car garage I would like to have a C5 to go along with the 72 but that will have to wait.

 

[rkmason]

The old saying applies here: "opinions are like a__holes; everyone has one", including me. Personally I like to hear as many as possible, and that's why I am on this forum.

My experience with third-party extended warranties is not good. I bought one for a new vehicle in the early 90s that was worthless because you could never reach them by phone to get repairs authorized. I guess getting the warranty direct from GM would avoid that kind of problem, but they are awfull expensive (I expect $2k+ for an '02 Corvette)

"Extended Warranties-Worth the Cost?" Sounds like another good topic for this forum.

 

[Ed02]

The old saying applies here: "opinions are like a__holes; everyone has one", including me. Personally I like to hear as many as possible, and that's why I am on this forum.

My experience with third-party extended warranties is not good. I bought one for a new vehicle in the early 90s that was worthless because you could never reach them by phone to get repairs authorized. I guess getting the warranty direct from GM would avoid that kind of problem, but they are awfull expensive (I expect $2k+ for an '02 Corvette)

"Extended Warranties-Worth the Cost?" Sounds like another good topic for this forum.

I just bought a GM major guard protection plan from Fitchtner Chev. in Montana over the phone. It is a 72 month/40K mile, zero deductible for $1260. My local dealer wanted $2200. Great people to deal with.

 

[hotmtrsports]

That sounds like a good price Ed02, but I couldn't live with just 40K miles for 72 months. That's only 4K more than the standard 36/36 warranty. You won't be driving that car much, will you?

I opted for a 72 month / 60,000 mile with 100 deductible and it cost me about the same. A deductible really lowers the cost. I wanted to take care of any large problems.

I already have 45,000 miles on my 2002.. I drive it everyday and thinking I should have gone for more miles, but they don't make it easy to add more GMPP after doing it once. They do, but they hit me with a whole new price and don't credit much from the first one I did.

Chuck

 

[cruzer99]

I worked the following deal on the extended warranty which most dealers will go for. My proposal was the $100 deductable is waved if I bring the car back to the dealer where I bought the warranty. The "CLOSER" smiled and said "I guess you know we like to get the warranty work".

It doesn't hurt to ask...........

 

[kingman]

Extended warrantee's?????????

Hi

In the business world you will always find the good with the bad. Not all warrantee companies are the same and their coverage and their copay vary a great deal.

Keep in mind that they are in business to make money period.

Buying an extended warrantee from a local dealership is probably the safest way to go if it isn't a GM warrantee.

As far as the cost is concerned it is nothing if something major happens. The chance of something major happening is a gamble that l wouldn't want to take.
But the chances of it are quite small.

It is like disability insurance, this is the biggest money maker of insurance
companies because of the low percentages of something ever happening.

A vette is not like a Yugo and is built better then most.

Alan

 

[hotmtrsports]

Very well said kingman


Chuck

 

[FlyNLow]

Just bought my 2002 Coupe A4 for $27,800. Got a great deal. Had a few problems, minor and easily repaired for less than $350, and I'm a happy guy.

 

[kingman]

Good deal!!!

All the luck in the world and a great price.

Did you buy it from a dealer or through the paper and how many miles did it have?

Just asking so that we can help out other future C5 owners make the right deal.

Thanks

Alan

 

[DanHammer]

Man that was a steal ... for under 30K for a 2002 C5, that is super. Around here in my area, Metropolitan DC, Maryland and Virginia ...the C5's are still holding their prices pretty well into mid and high 30's. The Verts, Z06 and 50th Anniversary models are still selling for high 30's into mid 40's. These are dealership prices and probably are still negotiable. I just browsed the prices online today for 2001 to 2004 model years ...

I will be holding on to my 2001 until it probably don't run anymore ... so far it only has 45K miles and very reliable, and dependable.

Good Luck ... Dan

 

[Patrick]

FlyNLow,

Congrats! If you're either frequently or occasionally out on the front range, you should hook up with our local Corvette Club- Colorado Springs Corvette Social Club (CSCSC). We do a number of drive and dines and other fun stuff. And best of all, there are no membership dues or "mandatory" events. Just Corvette owners who love their cars and enjoy socializing with other Corvette enthusiasts! Let me know by PM if your interested!


-Patrick

 

[kingman]

??????????????????

Remember the price's are different all over the country depending on where you live and the color.

Also beware of the states that got hit by floods and hurricanes. Make sure you check to see if the car in question was under water or partially under.

Alan