New Member with a Used C5 Q...

[ELTGuy]

Hi all... nice forum you all have here, I've been a lurker for a few months. Wife wants me to get a Vette (I know, damn the luck) and have been looking at older C5's. Not as powerful or equipped with as many bells and whistles as the newer ones, but an order of magnitude over my Mustang.

Found one at a local dealership....

1998 Coupe with the Tinted Blue Glass roof panel... 6-SP, looks like an aftermarket exhaust and a modified shifter. 68,000 miles... my Mustang has 94,000 so I can't fault someone for driving their car.

Ran el carfax and it passed with flying colors, only thing of interest is that it was last registered in 2002 in FL (the car is now in Southern California), also it was registerd as purchased from a lot in November... now it's out here. Thinking either the Previous Owner (PO) wanted something newer or it was repoed. Thinking the latter....

Front tires are EMT, with the inner cord showing... meaning if you look forward to aft (ex-navy) the tread on the inner edge of the tires is worn to require very-near future replacement.

Paint is pretty clean, with an occasional scuff and minor scratch that I'm sure can come out with some elbow grease and Meguires Scratch-X... or do the GFP panels and the special paint required have special properties?

Brakes appear decent, although new pads and rotors would be adviseable within 10,000 miles, if not less.... definite ridge build up on the rotors and some scoring.

Rear tires are Continental GTs, not EMT... so would most likely replace the fronts with Continentials... just to keep everything the same. Unless running without EMTs is unadviseable, I know the car has no spare tire.

Interior is in decent shape and there is some wear on the drivers seat, but not too bad... and the shifter knob is aftermarket but the cheap "aluminized plastic" has worn off.

Have not driven said car nor have had a chance to inspect el engine... but that's why I'm here.

Anything I should check out on the test drive (thinking of taking one this Saturday)? Any key trouble areas in the engine I should look at.

I do have a fairly decent assortment of tools and have some knowledge of corvette mechanicals. I used to write Mitchell Repair Manuals and did a few articles on the Corvette. If any of you ever get a hold of the Mitchell repair procedure for the C5 rear suspension, that baby is mine.


Edmunds says that a car in this condition ... I selected "rough" as the paint was less than perfect, there was some deteroriating on the weatherstrip and the brakes and tires would require immediate attention.. should rund $18-19K ... Dealer is asking $21,999. Think there is a chance I can talk them down?

 

[cavettefan]

ELTGuy, as you note, the dealer is "asking" $21,999. There is a saying in the car market - Cash talks and Bull**** walks.... I would offer $18,000 contingent on the car passing a cylinder leak down test as c5d recommended. If the dealer balks, let them stew - the longer the car sits on the lot, the greater is your leverage. Up in No. California, there is an economic depression. Car values are in the toilet.

 

[cruzer99]

I think everyone agrees with spending the 50 or 75 dollars to have an independent shop that knows Vettes check the car out first can save you $$$$$. If the dealer has been up-front he will let you have the car checked out.
It sounds like you could be looking at a couple of thousand dollars in the near future with tires, brakes, and a front end rebuild/allignment.
We all know it's difficult, but you need to remove the emotion from the buying equation and see it as an investment. A REALLY FUN INVESTMENT!!!!!
I think I would start at a really low offer like 15K while reminding the dealer of all of the work that needs to be done and you will be without the car while it's in the shop etc. etc. but you are willing to do it if the price is right.
You can always go up with the $ offer but you can't go down.
Good luck.......

 

[bluecoupe]

See if you can have a GM mechanic run a repair/warranty history on the car.


There are some real bargins out there now.

http://adcache.collectorcartraderonline.com/10/4/8/61476448.htm

 

[ELTGuy]

Hey all, thank's for the advice.


I went back yesterday to get a closer look. After I pushed the clutch pedal in ... the car rolled forward. I verified that the e-brake handle was fully deployed, it was.

I started her up, man that thing did have a free flow exhaust... then I noticed the DIC started letting me know what was wrong... I looked at it for at least a minute and I don't think I ever saw the same warning twice.

Checked the lights, they turned on fine, but when they went to the stow position.... man... I thought the noise would never stop. The dealer agreed that the car is not worth much.

He did, however show me another 98... red and very nice. He said that if my wife and I would like to take it out for an hour and if we wanted to take it to a mechanic for the once over, that would be fine. So... maybe tomorrow we'll see. It's at the extreme of our price range, but I know that "getting a beater 'Vette to fix up" is no way to bargain shop.

Thanks for the advice :up:

 

[bluecoupe]

Take your time. Between the bad winter weather, the glut of new 2004 Corvettes in inventory and the January 2004 Official intoduction of the C6 Corvette, the prices will drop on the used C5 Corvettes. After January 2004 will be a good time to catch a deal. Also consider what extra money you are likley to put into a fixer-upper and add that to your original buying budget and you may be better off getting a newer one in better shape.

 

[warren s]

I am also looking for a C5, my best advice to always remember that there are 1000s of them out there!

If you even think somthing is not right, go on to the next one, because there will be a next one.

And as always, you get what you pay for.

 

[ddmau]

Well, I shopped Carmax.com until the right C5 came along ( 2000 black in black 6-speed with 14,200 miles) and with their 5 day no questions return policy and 30 day guarantee I felt secure with the initial purchase. Also, it was 2-3 grand under retail according to Kelly and NADA.

Now, 2,000 miles later and the further security of a 100,000 mile extended warranty I am very happy. I recommend them highly.

 

[tt-rexx]

bag it

There are to many good deals on better cars out there, now that the c6 is coming. Don't get stuck on this one.You don't want your first experience of c5's to be a bad one. This one is a beater.

 

[Daryllawman]

Welcome to the Corvette Action Center........Enjoy

 

[ELTGuy]

Thanks again for the tips and advice. My wife did go with me to see the Red 1998 Hardtop and her attitude towards Corvettes has taken a 180* turn. She origionally wanted me to get one so I'd shut up about the whole thing but after our test drive she loved it. The dealer wanted a bit much for it and was jacking us on the trade, so I figure I'd walk and see where the market goes. Like it has been stated here, they didn't just make that one Corvette!

 

[ddmau]

Yeah, wives are funny that way. I was going to sell the '85 after obtaining the newer one, but she said she wanted it, and also wanted to modify it. I informed her it had been modified as much as possible without tearing into the engine, etc.

She said no, I just want a different color carpet. :cu

 

[Arthur6]

I've had 3 Corvettes in the last 15 years.
Each one, my wife likes better. Have a 99 Vert, wife won't get out of it in summer, she takes it EVERYWHERE.
Funny thing about wives, first they think you're going through some faze, but when the Corvette is in the driveway, and she can drive it, look out!!!

 

[BlueL36]

Hiya ELTGuy