Rebuild or New buy

[77-4speed]

With about $20K available:

Restore the 77 L-82 to great daily driver including an engine rebuild to 400hp/400ft-lb torque, new interior, new weatherstripping, new suspension, new master cylinder and SS brake lines, 6 speed manual tranny, work done by the pros

or

Sell the 77 buy a 99-00 model coupe

Russ

 

[c4ever]

No vote. I would keep the 77 buy the C5 as a daily driver and work a little at a time on the 77. Best of both worlds:cool
Nothing has or ever will measure up to the styling of the Shark(IMHO) You'll regret the day you let her go. I would find a way to make it happen with both.

 

[Evolution1980]

Same here... no vote.

Everyone will give an opinion, including myself. What do you want as a sports car? Basically, just about no matter what you do to a 77, the C5 will do better with no mods (short of maybe 0-60 and 1/4 mi times depending how big you build the engine and tranny).

If you only want go fast in a straight line, go the C3 and make it so.

If you want comfort, go C5

If you want a year round daily driver (especially if you have to deal with inclement weather), go C5

If you want closer company and comraderie, go C3

If you want cheaper parts and the ability to do most of the work yourself, go C3

So the vote comes out even. It's all in what you want and can afford. Both cars will cost just about the same in the end. You can't rebuild a vette for cheaper than you could buy the equivalent spec and condition of the same year. Insurance would likely be the only difference, but if your record is clean, it could be a minimal difference.

If I had to do it all over again, as of a couple of months ago I said that I'd stick with everything I've done with my 80. But now that Lingenfelter has that Supercharger for the C5 for about $6300...I'd be hard pressed to choose the 1980. It's all in whatcha want. Or just go with what c4ever said... buy both!

EDIT: Either way, you're still a vette owner and in good company!

 

[page62]

Yup. Use the $20K as a BIG down payment on a C5. Finance the rest -- interest rates are dirt cheap right now, and it won't be much anyway.

 

[c4ever]

Uuummmmmmmmmm!
The 77 is getting all the votes. I wonder if the C5 ever had a chance in this forum.:L :L :L :L

 

[Bob Chadwick]

Insurance may be a bigger issue than you think. Both the corvette convertible and coupe made the top 10 highest insurance list whereas my 77 costs me about the same as my wife's 93 Honda.

Bob

 

[Evolution1980]

Insurance may be a bigger issue than you think. Both the corvette convertible and coupe made the top 10 highest insurance list whereas my 77 costs me about the same as my wife's 93 Honda.

Bob

I think that all depends though if 1) you plan on using it as a daily driver and 2) If they base the insurance on the Blue Blook value. if that's the case, your 77 is worth maybe $6-10K and the C5 is going to be in the $20-30K range.

I have my 80 listed as a seasonal/recreation/2nd vehicle. But I also have it insured for a stated value of $30K. That way if I ever total it, I'll be able to jump back into something. At this point, it's bluebook value is like $6500. Yeah, I total my baby and I only get $6500 for it? I don't think so... :booty:nono

Need to edit the Survey to include "Undecided / Both"

 

[Bullitt]

Sell the '77 and get a '69. One of my favorite years. :cool Try doing the mods yourself, though.

Just my humble opinion.

--Bullitt

 

[Evolution1980]

I just did a quick check in Kelley's Blue Book (KBB.com) on two vettes. KB only goes back 20 years, so I went with an Regular '82 w/50K miles in Perfect condition. Also quoted a 98 Coupe w/75K miles in Fair (right above POOR) condition. Standard options on each.

Trade in Value: 82 = $4780 98 = $15350

Granted dealer trade in value isn't quite indicitive of private resale value, as a C5 would likley sell much faster in a dealer's lot. This was just to give a reference. Figure this reference is worth about as much as you paid for it...hahahah.... but sometimes this is how insurance figures premiums... meaning, you drop a lot of cash on a 77, if you total it, you're not gonna get much back unless you have "stated amount" like myself...

 

[77-4speed]

Evolution,

How much extra does your "stated amount" cost you? My insurance breaks down like this:

77 Corvette - My Weekend Cruiser
1997Expedition - Wifes Weekend Cruiser
1992 Isuzu pickup - My primary vehicle (wife gets company car)

$1200 EVERY SIX MONTHS!!!

Granted, I am only 23 so my premiums are high, but she is over 25 and we both have spotless records. No tickets or anything.

I just left a voice mail with my agent to ask about pricing a 99-00 vette as my weekend ride and as my primary. We'll see what he says.

I can't wait to turn 25!

Russ

 

[Evolution1980]

Evolution,
How much extra does your "stated amount" cost you? My insurance breaks down like this:

I'll have to check. I haven't checked on what it would be at $15K, which some might say is more reasonable, but then I have receipts for everything. I have over $10K alone just in the engine and paint job.

 

[77-4speed]

Well,

I just got off of the phone with my all-state insurance agent and to replace the 77 with a 99 would only cost me $130 more every six months. Not too bad.

Adding a 99 and keeping the 77 would cost me $439 every six months. That kinda hurts!

I forgot to ask about "stated amount" insurance! Doh!

Russ

 

[c4ever]

Russ,
You can issure the 77 for a stated(agreed) amount for probably $200 a year. There are numerous agencies for collector cars. As you can see, I'm still trying to convince you to keep the 77:L :L :L

 

[77-4speed]

c4ever,

I really do want to keep the car. I love the C3 styling but I have so much work to do to make it a daily driver! I have to do all of the suspension (front, back, leaf, shocks, bushings) and put in a 5 or 6 speed tranny because 10mpg doesn't cut it in Houston. Then there's the carpet, heat shielding and lets not forget the HUGE water leaks that leave the floorpan soaked in water. Although the engine is extremely strong I do think it needs to be opened up and inspected so why not rebuild it while it's open. I am trying to figure out a way to keep the 77 and add a C5 but with kids expected in the next year or 2 I just don't know if it can happen.

I'll definitely let you know what happens.

Russ

 

[Scott81]

Sell the C3 for a C4? Whaddya, Whaddya, Whaddya freakin crazy?

Hey, I say do whatever makes you happy. I couldn't sell mine after all the work I put into it, plus I've driven a few C4's and didn't like them.

As for insurance, I've got my 81 insured with Hagerty, insured for $17,500 no deductibles, unlimited miles, cost $289 a year, although I'm going to have them raise the value next time around.

 

[77-4speed]

Scott,

I was thinking of selling the C3 for a C5. I only have about $11,500 in my 77. It was in pretty good shape when I got it. I could sell it for $10,000 so the loss of $1,500 wouldn't be that bad.

I wish I could get mine insured for $289/yr. I'm paying over $600 a year with a $200 deductible and bluebook replacement.

Russ

 

[mmvette80]

I paid $6500 for my 1980. Ive put in probably around $10,000. My car had good paint it just needed everything else. You know what I regret about it, NOTHING. You know when I will sell it, NEVER. I would go with the 77, just remember the 77 was new just like a C5 would be and I think rebiulding the C5 20 yrs from now would cost a hell of a lot more $$$. C3'sRule :BOW

 

[69MyWay]

Having a C3, C4, and C5 in the garage, I have to tell you ....hands down to go with the C5.

Even with 400 hp and 400 lbs of torque, the C3 will not be able to compete with the C5 on a daily basis. The noise, rattles, leaks, smells, and other quality/durability issues that will creep up on the C3 with such a modified engine will make your "daily driver" dream a nightmare.

The C5 is lighter, faster, more duable, less likely to leave you on the side of the road, and gets superior fuel economy to a highly modified C3.

To really get in that hp range on the C3, you will have to give up so much of what we take for granted on newer cars. I have modified my C4 to the point it WILL outrun the C5. However, it is done at a high price in terms of rough idle, noise, driveability issues, and stinky rich racy smelling exhaust. If I had the choice between taking either the C4 or C5 out of town for the weekend on an overnight road trip, the C5 would be my pick.

On my C3, it is turning out to be soooo radical, that even with electronic fuel injection on the big block, and a/c, I know it will never hold up to daily traffic and weather conditions.


I vote for keep the C3 for giggles and grins and weekend projects, AND pick up a C5 for a good deal.

You can always put daily driver normal insurance on the C5, then have Sneed Robinson & Gerber write the C3 on a $7,000 valued policy for about $250 a year.

 

[77-4speed]

Chris, and all,

I think the verdict is finally in. I am going to go for the C5. The wife and I are planning on having kids in a year or two and after that I don't think it will be possible to afford a newer corvette on a single salary (that's right she is staying home to be a mom). So, I've got a year or two to save up money for my C5, during which time I will be constantly addressing the small issues with my 77. I have a full time offer from my father in law to buy the 77 for $10K, so that will always be there. I figure in a year or two I will have about $12K in the 77 so taking the $2K loss for 2-3 years of driving enjoyment is okay with me.

The safety and reliability (not to mention the fun) of driving the C5 just wins out in the end. If some great circumstances come up and I can afford the C5 and C3, I will definitely do it, but as of now I am going wo keep my ears and eyes open for a low 20's C5 6-spd. If Chris can vouch for the C5 after all of the work he's done on the 69......let's just say I'd trust his opinion.

Thanks everybody for the input. I am always on the forum so I'll keep you informed and also keep your minds sharp with all of my *little* problems.

Thanks,

Russ

 

[Bob Chadwick]

Russ,

After talking with you last week, I think you have made the right decision.

You've got $11,500 into the 77 now. How do you plan to limit your spending to $500 over the the next 2 or 3 years. That is one trip to The Last Detail for me. Please share with me your secret formula :s.

Bob