putting money into a midyear c-4 (your thoughts?)

[corvetteDan]

I have a nice 1988 C-4 rat top this ia truly fine little car. But, I am at a point to where I would like to put some cash into it. A new set of Z06 wheels, paint, engine work (chrome, engine upgrades such as mass air flow, chip, etc would be in order), With the new ehaust system ( another $900), I'm looking at around 5K or more for all the work. It comes to mind that the car is going down hill in value... (got 9K in her now as it sits with 30,000 miles on the car).
I would appreciate any thoughts, remarks, points made on where we see the C-4 values going in the coming years.
Bottom line is that I love the car, have had good times in it, and have enjoyed it being a member of the family. I suppose one could say put in the cash for the upgrades if the car still gives you pleasure................. Besides, even 5-6K is far less than a new sticker price of 55K. (for generally the same thrills).
any others having the same thoughts?

 

[Ken]

Do you currently own it outright?

 

[Top]

How long to you plan to keep the car? Will you have it long enough to enjoy the 'fun value' you will receive from the mods you plan?

I for one will never sell mine, at least not as long as I am physically able to still enjoy the car, which should be at least another 20 years. Because of this I am now focusing on building a good spares base along with planning mods and a 383 rebuild in the not to distance future.

I would say if you are going to have the car long enough and that is a timeline only you can decide, then go for it. The heck with what it's selling value is at that time, the true value of the car is what you are enjoying now and looking forward to in the future.

Good Driving!!!

 

[JonM]

Why should you be any different then the rest of us...spend that cash. :eyerole :L

 

[tyrel]

Midyear C4? Hmm, that's a new term.

Anyway, the way I look at it is that, with very few exceptions, cars are poor investments. You'll never get back the money that you put into them, especially if you fix them up and re-sell them down the road. Your 88 is always going to have some value as opposed to, say, an 88 Cavalier, most of which are probably in the junkyard. A corvette will always have some intrinsic value, even if it needs a paint job, new tires, or an engine rebuild. So you could sit on your car for thirty years, drive it around the block once a month to keep the seals from drying out, and worry about whether or not its losing value, and at the end of that thirty years you'll have a museum-quality car, but then where did your life go? Even if it just sits in the garage it will lose value, and then maybe, just maybe, in thirty years the value will start to creep back up again. I dunno, maybe I'm rambling, but with over 350,000 C4s produced, I doubt that very many of them will become collector cars. It will be a long, long time before the C4 stops losing value and begins to creep back up again.

So enjoy it while you can! Just my opinion.

 

[AUSSIEVETTEMAN]

Decisions, decisions!

CorvetteDan,

Go on Dan, spend the money! You know you want too!
Can't take the sh*t with you when you die! :L

Didn't you know that Corvette means 'endless money pit' in the dictionary? :L
I have spent around $42000.00 (Aussie) on buying and repairing our car todate (since April this year) and will need to spend another $5000.00 (Aussie) on the interior. That equates to around $30000.00 US.
I agree with Top, we would not sell our car at all and plan to drive her for another 40 years, if she lasts that long. I reckon I will probably become too old to drive her at 70 and become a menace on the road, if we have roads then!

If you plan to keep her, spend the money.
If you plan to off load her later, don't.

Cheers

Tony

 

[AUSSIEVETTEMAN]

Decisions, decisions!

Go on Dan, spend the money, you know you want too!

Didn't you know, Corvette actually means 'endless money pit' in the dictionary! :L

Hey, we have spent around $42000.00 Aussie dollars on our baby and will need to spend a bit more on the interior. This equates to around $30000.00 US, which is a bit for an 81 Coupe.
I agree with Top, we would never sell ours either and plan to keep her until we both become road menaces at a later age.

I'd say, spend the money if you plan to keep her and don't spend it if you plan to off load her.

Good luck with your decision

Cheers

Tony

PS Hey Top,
Our car is originally from Fairway Chevrolet in Las Vegas Nevada. Is that close to you guys at all?
She had 7 miles on her then, gee if only I could have seen her then.

 

[Edmond]

Dan,

The wheels are worth it. If you decide to sell the car, you can always keep the Z06 wheels and sell those separately. As for the paint, that is worth it as well because it isn't cheap to have our babies painted.

As for the performance mods, don't expect to spend xxx amount of $ and expect to make xxx $'s back up when you sell it. IMO, with the exception of the Rippie's, TPIS's and the Lingenfelter cars, modified Corvette's aren't worth anymore than they would be stock. It just seems that way.

You always see ads reading, "Blue Book value $10,000, put $2,000 of work into it; will sacrifice for less than $12,000." Don't expect to recover that modification money.

If you're keeping long term, I say do those things. But if your intent is to sell, let the next owner take care of those things.

 

[corvetteDan]

Guys, All good points. Yes, I own the car and do not owe anyting on it. I've got 9K in the car now and she has 30,000 miles on it. Given that it is a rag top ( I love em), and the fact that I am not going to spend the cash for a new one anytime soon (got 2 kids to get through college), I may as well make the C-4 into something that I enjoy driving more.

Ok, I'll spend the cash.

And, yes, I know these cars are a money pit as I have had 2 x 58's and a 65 (all rag tops).

Thanks for the wise words.

I'll post the photos here when it starts to take shape...

 

[miken]

DAN - This is always a tough call. Generally speaking if you spend money on modifications you need to keep the car to enjoy the money and or time invested. It will never be a one to one payback. As for resale values I think the C-4's are under priced in the market but so are all cars in general.

My advice is if you like the car and you dump money into it, it will be more fun than buying a newer model. I have a ton in mine but it will last and it is faster than a new Z06. It is a keeper..try not to keep track of the dollars.
Mike

 

[captbane]

mid c-4s

go 4 it friend, what resale? why? these are apart of your life, and thats short enough, besides when you decide 2 go 4 your c-5 you can give it to your lover to smooth the way! no bad no lose sin. cya! capt bane

 

[johnny]

same old talk

talking about spending money into your vette they do everywere. But spending money and driving a vette are two things who are conected.

First you must decided if you want to keep the car.

I spend 60.000 € and I loved spending it :s I will spend 60.000 more to have the vette of my life.

My old '86 vette...........I could buy a c5.......

 

[Ken]

Re: same old talk

I spend 60.000 € and I loved spending it :s I will spend 60.000 more ...

Johnny, I'm surprised that you would even post what you've spent so far. I'm embarrased to say what I've spent on my engine alone! :L

_ken :crazy

 

[oldace84]

I think its called Corvette Tax.
Spend the bucks and enjoy the fruits of your work. I do,
Good Luck
tony

 

[jrbartholomew]

why be different ? spend the money and enjoy your vette. any other mid 80s car and it would be a waste,but were talking about a member of the family here not just a car.even if i buy another vette i will always keep my firstborn,as my wife calls it. enjoy
jeff:cool

 

[Rogue]

I'd spend the money.

The paint job alone will eat up $4k of your budget! I've spent more than that on my '91 and I've since stopped keeping track. What's the point? Because whenever I open the door to the garage and see her, I quickly forget everything and all I want to do is drive that beautiful car!

 

[Daryllawman]

Spend the Money and Enjoy life..........You only live once on Earth........Go For It.!!!!

 

[1g1yy]

At least trade up to an LT1 C4 if you want to mod it! Preferably a '95 or '96, but even a '92 would be better than the L-98. JMHO

 

[89popalop]

i have an 89 rag top with 105.000 on it and i keep sending it in to have something done to it. i do a lot of the work myself. my wife says it is one of our kids.

 

[Mad-Mic]

At least trade up to an LT1 C4 if you want to mod it! Preferably a '95 or '96, but even a '92 would be better than the L-98. JMHO

sorry man but that is just lame. there is nothing wrong with a L98 motor. i love pulling LS1 vettes and FBodies and them looking at me like i wasn't suppose to do that

the only LT vette i would buy would be either a ZR1 (which is most likely my next vette) or a LT4. i'd really like to find a 89 Callaway though. last year of the digital dash and a 6 speed to boot