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Newbie needs urgent advise .

  • Thread starter Thread starter Billman
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Billman

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Guys/Gals,
I need your help. I am in the market for a C5 after years of c3's. (1980 L-82, 1971 coupe) I've looked at a few but, they all looked a little rough. I 've found an absolutely beautiful one owner (7000 miles) Millenium Yellow 2003 at my local Chevy dealer. Here's where the question come in...

Are there any obvious issues that I should be aware of or look for ?

Is $35900 a fair price ? Options are as follows... 1sb,memory package,body side molding,dual roof,6speed,power steering column,high polished wheels.

Please help with any words of wisdom or advise.
 
Billman,
First of all, welcome to the CAC! I'm sure you'll get lots of advice to aid in your search for a C5 here.

The '03 you're looking at certainly seems well equipped, but the price strikes me as a bit high. With the C6 now available, the prices of C5's have been on something of a decline as dealerships are wanting to get them off the lots to increase their allocations of C6's. How open is the dealership you're talking with on the subject of negotiation?

-Patrick
 
I keep thinking of the guy that bought a brand new 04 for something like $32,000. You should be able to get that one for less.
 
Welcome to the CAC. I bought a 2000 with 30k miles on it (out of warranty). I had a few problems that seemed to crop up in other cars of the same year. They included a defective gas guage sending units, defective body conotrol module, defective drivers door module and an oil pan leak. I turned down the extended warranty (bumper to bumper Manufacturers extended warranty for 70k miles or 5 years) that would have cost me 2,000 additional dollars.

As it turned out I spent about 4,500 dollars in repairs and GM picked up an additional 2,000 since it had been in for repair while under warranty for some of these same problems. What I would suggest is that you talk these guys down a few thousand dollars and if you want, use part of the saved money for an extended warranty (a good one). These cars are a bit delicate and very expensive to repair. An extended warranty will let you relax with it and enjoy it longer instead of worrying about how much it is going to cost to get it fixed. They might take an offer of 32,000 and throw in an extended warranty. That could be a really sweet deal. - Ron
 
:w Hello and welcome to the Corvette Action Center......as for the Vette.....a little high if it was here in Tenn.......seen them for alot lower here......Good Luck.....
 
Tell the dealer that it is a very nice car, but without the HUD and electrochromic
mirrors the price is just a bit steep. You could probably get close to a 'vert or a Z06 at that price.

As for any big issues to look for: I wouldn't worry too much about major problems on an 03 at this point. I WOULD run a carfax just to see if it has been back to the dealer for service items more than it should.

Schmaltzer has good suggestions regarding the extended warranty. Although you won't have to worry about it for a while, put the money aside for when the factory warranty runs out.

And welcome to the CAC.

Tammy
 
Dean Barker said:
I keep thinking of the guy that bought a brand new 04 for something like $32,000. You should be able to get that one for less.
Click to expand...

:eek :eek And I thought I got a good deal on my '04!!!!

Billman, I bought my '04 LeMans Commemorative Edition Coupe new in Sept of '04 with $11,000 off list... dropped the price to $39,500 if I remember correctly ($0 down). As has been previously stated, with out all the options, and with '04s practically being given away, $35k might be a bit high for the car. However, it depends on the area you are in. The price might be right or even low in your area. I bought mine in Springfield, Mo and then found a new '04 Z06 on Ebay for almost exactly the same price. Do your research and travel to a lower priced market if you find one... and don't settle for anything less than what you really want...speaking from experience here (w/ my 1st vette, I settled for an automatic).
 
Hello everyone ... believe it or not, around here in the VA, MD and DC area, the price of a low mileage and excellent condition C5 is holding up. What Bill has indicated are actual asking price @ most dealearship in the area. As it stands now, the C5 are more in demand than the new C6 in our area ... go figure ;shrug ...

Bill, if any consolation check out this sites that especialize on vettes:

http://www.stingraysfromheaven.com/ ( a bit far but really honest folks)

http://www.coopercorvettes.com/ (northern VA )

At least you can have an idea how much they asking around our area.
Hope this helps ...


By the way ... Welcome to :CAC and enjoy the forums.

Dan :v
 
Any thoughts as to what I should offer ?
KBB.com gives the following information.
Trade in Value $28200.00
Private Party Sale $31500
Retail $37500.
That is one hell of a spread between trade in and retail !
 
Bill ... yeah that is one spread alright. Just remember ... most dealers give or take have an aprox. marginal spread for a deal between 2.5K to 3K give or take. Start with your lowest offer like 30K and gradually work it up to your budget.

Just like I said ... the demand around here for the C5 is high, compared to other states. You might want to check out Delaware, PA and NJ if you don't mind to drive up ... probably better priced there.

a457.jpg



Later ... Dan :w
 
You will love the C-5 :D
I guess it all depends on how much you want the car and how much you are willing to spend, if it is " the One" Bid low and be prepared to bluff them a little, but don't wait too long the days are starting to get longer and spring will be here soon.:D
 
Billman said:
Any thoughts as to what I should offer ?
KBB.com gives the following information.
Trade in Value $28200.00
Private Party Sale $31500
Retail $37500.
That is one hell of a spread between trade in and retail !
Click to expand...

I agree with Dean Barker and Schmaltzr. You should position yourself for negotiations to NOT pay any more than $32,000. I would start with an offer $10,000 less than the current asking price (or about $29,000.) Tell the dealer for the price he's asking, you can find any of a dozen '04s with NO mileage on them, and full factory warranty. Also remind him that those '04s you're looking at have the HUD units you want.

Unless he counters with an offer at or below $35,000, I believe you are wasting your time talking with this dealer. You might get him down to $32,000, but it will take an eternity to do, and by the time you get accomplished, you'll be so frustrated from the negotiations that you will come to either despise the dealer or the deal you ended up agreeing to. Walk away if his counter is about the $35K mark.

Now, if he comes back at or below $35K, see what his reasoning is for this. Tell him you need to think about it, and then come back here and let us know what he says.

-Patrick
 
C5 Price's

First of welcome to CAC.

Now keep in mind that the yellow is an extra cost option and that it's a sharp color.

A 2002 with high 20's to Mid 30's thou miles wholesales for $26,000 and in a month from now it will rise. You would be better off buying a new 04 but to be realistic l would have to agree with the powers to be that $32,000 would be a fair price with an extended warranty.

Even though of the low mileage you should pull a Car-fax, don't let the dealer do it for you even if they agree to pay for it.

Sharp color and sharp vette.

Alan
 
Thank you for your help. I plan to meet with the dealer on Saturday to further discuss the price. I will keep you guys posted. Regarding the C3, don't tell the wife. But, the master plan is to keep it around.
 
Your looking for a beating!!!!!!!!

Your wife will figure it out in a heartbeat!!

Sell it and don't look back after you sit behind the wheel of a C5.

Alan
 
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