Mileage

[Lil' Red]

If I have a 98 which is now 5 yrs old and the national average is 10 to 15,000 miles a year how can my car with 72,000+ be considered high miles when that's about 14,400 miles a year? This is my daily driver and I bought it 2 yrs ago with 55,000+ on it. So now my value has dropped even futher because I choose to drive it instead of polish, wax, and look at it in the garage. I always thought with High Performance cars or any car for that matter as long as you maintain it change the oil regularly miles don't really make a difference. It's not a collector yet and I'm not trying to preserve it for that status but if I try to trade up in a year or two I don't want the fact that I drove it (and enjoyed every second of it) to be a set back.

 

[c4c5specialist]

Maintain it, and sell it outright

Hi there,
Please understand, that being in a dealership, I see alot of BS, so understand that this is not.
First, keep all your maintenance records, even oil changes. Second, note any and all dealership service records, including periodic calibration updates to the PCM, and the traction control system.
Then, sell it outright, as I have NEVER seen any Corvette tradein get a fair market price. If you do get the tradein that you want, you will pay for it in the finance of the next one.
So, with that, records are critical, and private sale a necessity.
If you do this, there is no doubt in my mind, that you will have alot better chance of getting the price that you want, to purchase a c6.
Allthebest, c4c5

 

[Ctfoodguy2000]

Once again, GREAT advice from Paul! Thanks......

 

[warren s]

After a few years low mileage on Corvettes does not make as much differance as many think.

I have a 95 with 20k, my friend has a 95 with 78K. I could "ask" for a few grand more in a private sale, but a dealer would only give me a grand more. Some dealers in NY will tell you that you are really getting another grand by trading in because of the tax credit towards a new car, but they low ball the price anyway.

Keep in in good condition, document all maintanance. Private sale is the only way to get a decent price.

 

[DkBG]

I agree . Private sale is the only way to get a good deal . But make no mistake about it , if you drive the wheels off of it you are going to get less for it . It's the price you pay for driving the worlds best affordable sports car . Also , i think you will find the standard for low mileage for a Vette is considerably lower than for the family wagon . Mileage does matter . Remember when you were Vette shopping ? You looked at the odometer didn't you ? Cliff

 

[cavettefan]

As DkBG notes, when you bought the car originally, you likely checked the mileage. The basic issue with a car is that the value at any time is a reflection of a few factors: 1.) Supply and Demand, 2.) Condition (and mileage is probably the greatest consideration, everything else being the same), and 3.) "Market Depreciation". Supply and Demand is fairly obvious. The recent Zero-Zero ($0 down and 0%) programs by GM (and through December 31, 2002, you got 90 days with no payments...) has killed the used market. Given the same condition (e.g. Excellent), a car with 10,000 miles will be worth more than one with 50,000. Lastly, Market Depreciation is a function of the continuous improvement in features that occur from year-to-year. A few exampleS: LS6 engine; Active Handling; Magnetic Selective Ride Control, and, and, and....

While you will get the best price from a private party sale, you will incur some costs that may minimize the difference between the price that you would get in a trade-in: you will have to advertise the car; you may have to go through a series of iterations with potential buyers (filtering out the not really serious buyers from the serious buyers; the highest offer that you receive may not be what you are looking for; etc.); and, if a potential buyer wrecks the car while on a test drive, you have another problem entirely....

If it were me, since you have had a very good ownership experience, I would continue to enjoy the car until you are ready to move into another one. Keep doing the maintenance; the single best action that you can do to lengthen the life of the car is the preventive maintenance.

 

[78SilvAnniv]

I'm a fan of higher mileage.

I'd rather purchase an older vette with higher, documented proper maintenance, than a vette the same age with considerably less miles on it.

To me, the higher mileage represents dependability, with the maintenance records backing up good care. I would be concerned with the older, lower mileage vette having dried out gaskets, belts and hoses.

I also must agree with the above comments. What is considered high mileage is different for a vette compared with 'regular' vehicles. The vette has a reputation of a weekend toy, and that will persist in influencing the mileage market.
Heidi

 

[Oldvetter]

I agree with 78SilvAnniv, a car that has been regularly driven and properly maintained is better than a garage queen.

Actually a vette with high mileage, indicating long highway trips is probably better. Highway mileage is much better than short trips / city mileage.

Now, if there are indications that it has been raced (many mods, non-matching engine serial number) I would personally stay away from it. Mileage put on a 1/4 of a mile at a time is the worst !

 

[1g1yy]

It's like the old saying, " You can't have your cake and eat it too".