Hi, I ran the NADA value of our low mileage 94 Vert on the web. NADA doesn't ask any specifics except zip code and mileage. Our vert (6sp w/opt hardtop) lists highest for $19,xxx with 9800 miles. If I run the same car with 30,000 miles there is only a difference of $550+/-. Would I be a fool to keep the car and start chaulking up the miles? We do pull it out of the garage every month for a few temp cycles on the coolant and a ride around the block. Any and all comments welcome.
Thx
Chris
The best part of the Corvette hobby is getting out with other "vettenuts" and going to and seeing places whilst enjoying your car and the company of others.
I cant see the point of a vehicle sitting in the garage in the hope that it will one day be "collectible".
Real estate and shares are probably a much wiser investment.
Thx for the info so far. We do drive the car (xmas eve was the last-NE weather). Our lifestyle doesn't let us get out too much for enjoyment (boating on w/e's in the summer). Our area is full of construction zones so we only drive it where we know were fairly safe from debris.
As far as a collectible, we are not concerned with that. Going to be too many years for that to happen.
Signed:
2 Obsessive vette owners.
Don't put too much stock in NADA or any of those other "value" experts when it comes to determining value on our cars. It may be worth what they quote, but unless someone is willing to pay that much, it isn't. I also don't buy the $550 difference between a car with 9800 miles versus 30,000 miles. I would say several thousand dollars difference is more realistic. These cars aren't much of an investment to begin with and miles kill whatever value they do have. Might as well drive it and not worry about resale value, because either way it'll never be worth what you paid for it.
Drive the car. You're only renting it anyways as your own clock is ticking down every second till you are dust. You obviously like the car so drive it before it's too late
I have thought about the value of leaving my children a low-miles - and therefore more valuable - car as part of my estate. I compare that to the value (to me) of driving and enjoying the C4 today and tomorrow. I love my kids immeasurably - but there is NO DOUBT of my answer. I drive it.
How grateful will your children be if you leave them a car that's worth a few percentage points more because of the low mileage? How much of that appreciation will they be able to show you AFTER YOU"RE GONE?
Collecting or investing in things that appreciate is a life-style decision or an estate-building tool. Driving fun cars falls under a "personal enjoyment" heading for me, and isn't the same at all. If I wanted to build an estate or realize appreciation for improving MY cash flow I would not choose C4's as the vehicle - at least not in the short term (defined as 'my lifetime'). Of course, twenty years ago few of us would have chosen Hemi 'Cuda's as an investment vehicle of choice either. Good luck,
Drive the car. You're only renting it anyways as your own clock is ticking down every second till you are dust. You obviously like the car so drive it before it's too late
Hi, I ran the NADA value of our low mileage 94 Vert on the web. NADA doesn't ask any specifics except zip code and mileage. Our vert (6sp w/opt hardtop) lists highest for $19,xxx with 9800 miles. If I run the same car with 30,000 miles there is only a difference of $550+/-. Would I be a fool to keep the car and start chaulking up the miles?
I ran a 94 Vert through edmunds, and they don't differentiate between 9800 miles or 30,000 - it adds about $1400 in either case. My sense is that for the average Vette buyer, finding a 10k car is good, but may not be worth a whole lot more than, a 30k car.
If you don't anticipate selling in the near term, then drive it as much as you want - I can't imagine that you'd detract from the value (unless you started putting 50k/year on it).
BTW, edmunds values the car at about $15k (adding all the options), so there is really more variance between NADA and edmunds than just the mileage.
The C4 market seems all over the map to me - and none of the value guides seem to really have a handle on it. My copy of Corvette magazine's C4 Market Guide seems to show outrageous pricing - but no one is anywhere near kbb or edmunds on the retail side, either. Maybe the market will settle down this spring (but probably not).
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We do pull it out of the garage every month for a few temp cycles on the coolant and a ride around the block. Any and all comments welcome.
Thx
Chris
Enjoy it & drive it when you can!
Steven
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If energy and enthusiasm were a substitute for experience and expertise, then I would hire my 11 year old for this job.
The real truth is that any car is only worth what you paid for it, or what someone else will pay for it. The real value or ANY Vette is how much enjoyment YOU get out of it!!
GM did not make these cars to sit in a garage; they were made to drive; that is where is were the FUN is. If you want a garage queen, buy a c3 and join NCRS!
I guess this a rant. Sorry.
NADA couldnt be more inaccurate when it comes to Corvettes. Your car is only worth what someone will pay, and right now the C4 market is a complete disaster. I say keep it and start enjoying it.
I posted an ad awhile back of our 95 coupe for sale and it did not even generate a who or a why inquiry! Ours is a 95 coupe with removable roof 6spd 300hp. color white with light gray interior.Not loaded but nicely equipped. Car has 13,500 original miles was a connecticut car and im the third owner. I have the original title to document it too. I was asking 19k. Not a single bite.Am i to high with the price as well? Reputable corvette dealers would love to have the car as a trade but wont give me nothing as a trade in. Corvette dealers would sell it for asking perhaps21-22k? and most likely get it? Guess i'll have to keep it too.Any one interested?
Location: Swanton VT 2000 Navy Blue Mettalic M6 / 1991 Auto - Steel Blue 68,500 R.I.P
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Originally Posted by Chevy Guy
NADA couldn't be more inaccurate when it comes to Corvettes. Your car is only worth what someone will pay and right now the C4 market is a complete disaster. I say keep it and start enjoying it.
Is that Lindros after his 30ish concussion in your avi ?
The real truth is that any car is only worth what you paid for it, or what someone else will pay for it. The real value or ANY Vette is how much enjoyment YOU get out of it!!
GM did not make these cars to sit in a garage; they were made to drive; that is where is were the FUN is. If you want a garage queen, buy a c3 and join NCRS!
I guess this a rant. Sorry.
This is so true but on the other hand, I have watched a few of the lower mile cars. Extremely nice ones out there right now like LS6 Tech's car, a yellow 91 with 8500 miles! .
Unfortunately, the market is the market. We have a bit of a market adjustment right now. It is not good for C-4's or C-5's. C-6's are out and people are flocking to buy it. These people are leaving behind their C-5's at attractive prices. It happens everytime a new vette is released. Also the C-4 is a victim of its own success. Too many produced.
It is just too difficult to justify buying an expensive low mileage C-4. Buyers have too many other options right now. It will take a very specific buyer to buy the 8500 mile car L98 car for 20K+ when he can get a nice C-5. If that buyer wants to throw out a little more he may find a nice C-5 ZO-6. Markets can be hell! It always has been a supply and demand market.
I am going to drive the wheels off of mine and then maybe convert it to a race car one day.
Thanks for all the informative posts! I think I'll take 'er out, turn off the anti spin and see what she really can do. Kidding only. We'll be driving more once the weather changes here. Appreciate the comments!!!
Corvette Store
'real' value of low mileage c4's
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