Keep it or buy a C5 Corvette?
This is a discussion on Keep it or buy a C5 Corvette? within the Corvette forums, part of the Vehicle Specific category; i have seen early c6 vettes for under 25k with less than 60k miles so don't limit yourself to a ...
12-10-2012, 05:01 PM #21
i have seen early c6 vettes for under 25k with less than 60k miles so don't limit yourself to a c5,check prices before you buy.my stock automatic 07 ran 12.77 @110 so they are plenty quick even with a ls2
12-14-2012, 12:46 PM #22
Enough said04 C5 A4 Torch Red
2009 CTS4 Ice Black
2013 1500 Silverado Z71
02 Z/28 M6 Onyx Black All Options - Sold
12-21-2012, 12:19 AM #23
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why are you willing to sell such an awesome car i would say to stick to your 2000 ferrari
12-21-2012, 04:14 AM #24
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- The Woodlands/spring/houston
- 99 trans am
12-21-2012, 12:15 PM #25
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black an red
- 00 z28 and 00 corvette
I found an awesome 2000 vette on craigslist, its black an completely blacked out with heads, cam and a fast intake and tb, its listed for 12700, if interested I can email it, I would have put it on this thread but my phone is acting weird
01-26-2013, 06:45 PM #26
i am looking into getting a vette also,i have a 01 ws6 w/heads & cam,bolt ons,i found a vette i want so bad i cant stand it, but, i dont wanna get rid of my ws6, ive had it for 10 yrs have alot of money and work in it,so im kinda attached to it,but i want this vette really bad, ive been trying to keep both cars but run into a dead end everywhere i turn,no bank wants to finance the vette because its a 2000 model,and the seller wants 7k over the book value but it is worth it being that it is fully built,procharged 850hp,but banks dont look at that stuff,so any suggestions on somewhere that might finance a car like this,if i cant find a place the last option would be to sell the ws6,or if the buyer will do a trade w/cash.
01-26-2013, 08:43 PM #27
01-28-2013, 07:32 AM #28
I would not suggest putting anything down as collateral - doubting that is an option anyway, at least through a structured financial institution. That will only give the loan officer an option to take away your TA in the event payment default occurred; example, one late payment.
You can always add those amenities (turbo, supercharger, etc to obtain that HP) to any car. Get a car you can afford through a regular bank loan and finance the goodies through another avenue. I put my Procharger build parts on a credit card with 0% interest for 18 months and had it paid in full in 15 months.
Any place that will give you a loan for a car that is priced well above its current value will probably have an interest rate you would not like anyway.
01-28-2013, 08:57 AM #29
The Z06 is the only C5 I would consider from that era. One hell of a car for the money, and claimed to be the best bang for your buck right now. Very nice low mile examples selling right at or near the $20k mark, you just don't get much better of a car for that kind of money.
What you have to ask yourself is whether the vette is a practical car for you. Might want to keep that 4 seater Fbody around for that reason. For myself the vette isn't practical at all which is why mine will be going up forsale. Neat to have, but I much rather prefer something that seats at least 4 people.
01-28-2013, 09:25 PM #30
01-29-2013, 02:18 AM #31
They won't finance it because the asking price is also 7K above what the bank is allowed to finance a used car for. That's my interpretation anyway. I have financed several used cars in my life through a financial institution. You probably have too. Banks are only allowed to give loans based on the value of something. Same with houses. If a house is valued at 100,000, the bank won't approve a loan for $150,000 in most cases. You'd need to have the house appraised for that first. Loans are becoming more and more difficult to obtain after the housing market bubble. OP didn't state the specifics of why they wouldn't finance it so that's my guess since no other personal info was disclosed.It's stock.
01-29-2013, 05:49 AM #32
It appears that car is $7k over book because it's heavily modded (supercharger etc..) That stuff just isn't going to be advertised at book values, just the way it is.
If you want something out of the ordinary that is custom and modded, may as well forget about the banks and book values. You'll need cash to purchase cars like this if you feel it's worth the money.
It's like going to the bank to buy that LS6 chevelle you've always wanted. When you tell them you need $100k and the bank looks at you funny and says, "well the book says it's only worth $1995.
It's sort of funny here in Arizona, and I know other states do this as well. They charge your license plate fee based off of car value, using the blue book. I can take one of the classic cars appraised at close to 6 figures to the DMV and they look at book value and charge me based off of about $1,000 So I walk out of there with plates for under $20.
On a brand new car however they really stick it to you, plates can be $600 or more annually. Which is why I'd hate to own a brand new car.
01-30-2013, 09:44 PM #33
01-31-2013, 06:18 AM #34
01-31-2013, 10:45 PM #35
02-01-2013, 06:08 AM #36
In 2007 my wifes 2005 Jeep Rubicon which was already 2 years old at the time was still over $300 for a yearly tag,,,I hated that and sold the jeep the following year.
I'll be putting tags on a 2001 Z06 I just aquired shortly. It's only a year newer than my wifes 2000 SS but being a vette I'll be interested to see how the state views that as far as value and tags. Chances are good that I won't be keeping this one either
Funny though, the insurance on it is cheaper than my 72 blazer by $26
02-05-2013, 08:42 AM #37
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