What year is best C5 to buy/why?

[invinceablevett]

wow....coming from a Ferrari 355 ?.....I am having trouble selling my 92 because I feel like it's part of my dress code and your telling me you sold your Ferrari?....I am going to buy a more recent Corvette also and I am having lots of trouble deciding also......I would love to get a C6 but I really have trouble with the depreciation issue especially because I use my vette so little...( 25 000 miles in 10 years...no rain driven).....I came close to buying a dark blue 2001 convertible last summer but we couldn't agree on a price so he sold it(gave it away) to a dealerad ....I still regret not buying it because it was really well taken care of and it had about 4500 miles on it.The thing that stopped me was that it had no HUD,CD changer and no performance axle ratio..all stuff I NEED ....I think that a '01 is about as old as I personally would go mainly because of options.I'm now looking at a convertible '03 Anniversary model which has depreciated unbelievably.Brand new back in '02 they asked me for $ 84 000.00 (can) and this one I am looking at is asking $ 63 900.00(can)....it has only 4200 miles on it....I hope this feeling goes away so I won't have to spend any money:L .....Good luck with your shopping.

 

[bluecoupe]

The depreciation may not be an issue with an convertible '03 Anniversary model because you will most likely end up keeping it for your entire life.

 

[Vref]

Whatever year C5 you get make sure to get it up in the air.

There are jacking locations that require special "pucks" to be inserted in the frame when it is put on a lift. Some C5s have had their fenders cracked where the fender wraps around under the car near the frame. This can be fixed by a good auto body shop but it will surprise you how much a small crack can end up costing if done correctly.

There is also a small sub-frame under the nose of the car called a skid bar I have seen these bent up pretty bad on C5s. Not too hard to replace but if you bought a Corvette and didn't check it and then saw it a week after you own it when you finally climb under it you would be shocked :eek . Plus what esle did the prior owner put it through?

Another area to be aware of is the windshield. I don't know what they are making these things out of but they chip really easy and the sparkle that results can be distracting in bright sun. Changing a C5 windshield is a big job when done right the windshield with HUD is an expensive piece.

Ripped driver seat bolster is another problem on the early C5s. Again another easy fix but somewhat costly.

With so many Corvettes out there to chose from I'm sure you'll find what you want and in good shape. Be selective. If you do see one with a few problems get the price down and make it like new. These cars have their quirks but they are basically kit cars. If something breaks or wears out finding parts and expertise is not a problem.

Happy hunting.
Frank 2001 Coupe, Navy Blue Metalic, Z51, six spd.

Excellent information thanks. As far a keeping it the rest of my life. I don't think so. I would probably max out about 5 years. Then I would want something different.

 

[04cmnthru]

IMHO, the substantial discounts and rebates for 04's more than offsets any 1st year depreciation particularly when you take into consideration the fact that you get to take advantage of the full warranty (as opposed to none or a pro rated one). So, while absolute dollars may be less for an '03/02, the 04 may actually be a better buy. Its a tough decision. I don't think that used prices have suffered as much as new prices and I guess there is also a possibility that the price increase for the C6 coupled with MSRP pricing (or thereabouts) might shore up the C5 prices.

 

[lilgdad]

I just bought a '04 convertible 6sp red w/black leather interior that sticker-ed at $54k for $46k+tax. The car had just rolled off the truck, had all the protective plastic on it and I have been the only person to drive it except for the detail guys at the dealership. That is a great deal that will more than make up for 1st year depreciation. I think I may only keep it 2 years then get out of it into a new one.

 

[Vref]

I just bought a '04 convertible 6sp red w/black leather interior that sticker-ed at $54k for $46k+tax. The car had just rolled off the truck, had all the protective plastic on it and I have been the only person to drive it except for the detail guys at the dealership. That is a great deal that will more than make up for 1st year depreciation. I think I may only keep it 2 years then get out of it into a new one.

Thats excellent. Where did you get that deal.

 

[Mike Mercury]

2001 came standard with the "better" version of Active Hadling and better intake.

yes. There was a major rewrite of the AH and tranny software in 2001. And midway through the 2001 model year the LS1 got the LS6 intake manifold, the LS6 block, and the larger diameter MAF.
Also, 2001 was the first year that Active Hamdling became standard equipment.
To be sure on all this , just buy a 2002 or newer.

 

[bluecoupe]

2001 intake manifold info:

http://www.tradezone.com/vette/2001man.html

 

[DDLS3]

vref

If the price that lilgdad quoted intrests you, then you will be pleased to know that nearly all the larger corvette dealers are discounting 10-12k off the sticker. Check the ones in your area, if they aren't offering that discount then there are plenty of others.

 

[lilgdad]

Vref, Jack Maxton Chevy in Columbus, Ohio.

 

[Bender]

Do the discounts apply to any older C5's they may have on the lot?

 

[lilgdad]

Just new untitled 2004 C5's.

 

[jdanehy1]

I voted with my wallet back in January. I bought my first Vette at age 65. I justg decided that was something that was discretionary spending and I had reached the age where I was going to do it. Prior to that time I spent my discretionary money on motorcycles and expensive telescopes etc.

I waited until I saw what the C6 looked like. I bought a C5. Nuff said on that issue.

I do not pay interest on a discretionary purchase. I shopped around and could feel the discounting that was going on them at $6K off the sticker. Now you can get $10K to $12K off MSRP. Well I have enjoyed 10,000 miles and every mile has been worth every penny. I love my CE Lemans blue 2004. So does my wife.

If I was going to buy a car today I would buy a 2004. In a couple of years the 2004 will have had sufficient time to take the NORMAL depreciation that all Vette have taken. You can buy what you want right now with a NEW Vette with a warranty for 3 years for $40K. In a couple of years it will be worth between $25K and $30K. Compared to other high end cars it is a steal at todays prices.

The C6 is going to demand MSRP +++ for those that want to be first on the block. Talk about depreciation.

I think the last of the C5s (2004s) are going to be ones that take a smaller % than any other Vette. A 2003 Anniversary model with very low mileage and a rag top is going to be a good buy too.

I have a friend in Philadelphia that has 3,000 miles on a 2003 Coupe with all the goodies (in stock form) for a really good price.

I see a lot of posts on several Forums and I did not buy a used one unless I knew the person personally . . . a lot of Vettes get the lead foot treatment by people who are not really Vette lovers. They just want to mash the pedal.

 

[SLICKMAN]

Most pictures are too big, I get an error when trying to upload. Got to have a convertible, that takes the Z06 out of the picture.

Wow! Nice Ferrari!! I see your from the state of NY??

 

[C5Richard]

If I was coming down from the price range of a 355 I would have to have a Lingenfelter Corvette. The bulk of my Ferrari experience is with my freind's 360 Modeno which you would have to pry from my cold dead hands if I had one. Repairs bills or not.

Richard.

 

[Ncbosshoss]

04 Prices

I was just at the dealer this afternoon and I think they offered me one heck of a deal on an 04. Red/Black Convert with 1Sb package (HUD , etc.) $44,500 out the door. I haven't made my mind up yet. I usally buy a couple of years old to keep from taking the depreciation hit but these are good deals. Last year made so I wonder if they will hold there value pretty good. Most other years are doing fairly well, right?

Chris

 

[bluecoupe]

Look at the values of past "last year made" Corvettes. They are usually considered the most refine and are very desirable. (55, 62, 67, 82, 96) You need to decide what is more important monetary depreciation or personal appreciation.

 

[Ncbosshoss]

Good point.

Chris

 

[dooscoop32]

What year is best C5 to buy and why?

I believe the 2004 will go down as the best year of the C5s simply because they usually save the best for last. But, seriously, the improvements that have been done on the C5s culminated with the '04s. I have also read that some of the changes involved installing a few C6 parts on them in problem areas. And usually the last year of a body style is the most appealing in the future. Consider the '62 (C1), '67 (C2), '82 (C3) and '96 (C4). Why should 2004 be any different?