value of 02 Z06??

[slapshot]

A good friend of mine is looking at his neighbors 02 Z06, black/black. It has around 11k miles and is loaded, including the HUD. We've found the NADA, KBB, and Edmunds values for the car, but back when it was new, it was wrecked. From what I've been told, the damage was pretty bad, $10-15k worth. The car was rebuilt, and has paperwork from all the work that was done, as well as certifications that it is back to specs. If you were to look at the car, you could never tell it was fixed, it looks brand new. He takes extremely good care of all of his cars. Heck, if my friend weren't buying it, I'd be jumping on it. How does this history affect the value of the car?? It still has a regular title, not a salvage or rebuilt one.

 

[Edmond]

I would think that it a lot depends on who rebuilt the car and how bad the wreck was.

How many miles have been put on it since it was rebuilt? I'm sure that would be a factor because if it wasn't rebuilt correctly or very well, it wouldn't have many miles on it. But if it has the normal miles on it, I would think that the car is a capable driver.

It's tricky getting values for wrecked cars that were rebuilt. There are so many variables that come into play and there aren't any solid guidelines line the KBB or Edmunds that factor in those variables.

 

[Vettelt193]

A good friend of mine is looking at his neighbors 02 Z06, black/black. It has around 11k miles and is loaded, including the HUD. We've found the NADA, KBB, and Edmunds values for the car, but back when it was new, it was wrecked. From what I've been told, the damage was pretty bad, $10-15k worth. The car was rebuilt, and has paperwork from all the work that was done, as well as certifications that it is back to specs. If you were to look at the car, you could never tell it was fixed, it looks brand new. He takes extremely good care of all of his cars. Heck, if my friend weren't buying it, I'd be jumping on it. How does this history affect the value of the car?? It still has a regular title, not a salvage or rebuilt one.

I may have seen that car when it was wrecked. Did he say what happened to it? The one I saw went into a lake.... It didn't have much damage, other than water damage, but with all the electronics, I wouldn't touch it with a 10 foot stick.

 

[bluecoupe]

Run , don't walk, away from that deal. :nono

 

[slapshot]

The damage was from hitting a pole, no water damage. The crash was in the first month after he bought it. The car isn't his primary driver, it's a fun toy. He has driven it almost all of the miles on the car after the crash. Heck, he drove it from FL to PA with his wife last summer. I've driven it and inspected with my friend, and I found NO signs that it was even crashed. It drives like a new Z06. We're just having a hard time putting a price on it. It won't be a primary driver for my friend either, so it won't get lots of miles put on it. The owner was considering somethng around $25k, does that seem realistic??

Thanks!!

 

[hotmtrsports]

boinggggg! That rings a bell!

I remember seeing a black on black '02 Z06 totalled out at Corvette's at Carlisle on a trailer about 3 years ago at the center of the vendors area (behind where they sell those really good sugar cookies!) It was sold Thurs AM. The asking price was 10K. Seemed like there was frame damage to the car. I looked at this car closely. Hell, the gears in my head were turning...buy it with the tailer and haul it back! mmmm but before I could go further, someone put a sold tag on it.

It was sold really fast, I figure they got the 10K for it. So with what your saying, 10K plus 10 to 15K to fix, I don't know if 25K is low enough. I think the value of this car will be determined by a very very careful buyer.

Why wasn't there a salvage or rebuilt title for this car. Kind of fishy to me. Make sure you run a history check (carfax) on it.

IF IT'S THE SAME CAR, because you did say the damage was done after he bought it!

Chuck

 

[slapshot]

This is the original owner. He bought it new, crashed it in first month, had it fixed, and kept it. I got more details today. The total damage was $22k worth. A "corvette engineer" came out and certified that it was returned to original factory specs. He has all the paperwork and certifications. I looked hard to find any defects or signs of the crash, but I didn't find anything.

 

[hotmtrsports]

Just be careful. There should be a rebuilt or salvage title to this car. Don't let the hype blind you.

Do a carfax. Be very cautious.

Also, I've had vehicles with $2,200 damage, never mind $22,000, that just aren't the same. There's always a squeek or a rattle they just can't find.

Nobody, but nobody will convince me that this car with $22,000 dollars worth of damage drives like one that didn't. There's no way it goes like a new Z06.

Just thought of this, make sure the bank knows it's had 22K worth of damage. You may find this car can't get financing. They'll be very, very upset when the bank gets the title marked rebuilt without being told. Just because the current title doesn't show it, the state may have records of it by the insurance company and the next time a title is typed up at the state, it'll show up!
Chuck

 

[slapshot]

Thanks all, I will pass the info on to him.