Need Price for Low Mileage 2002 Z06
10-28-2023, 09:49 AM
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Need Price for Low Mileage 2002 Z06
I found a 2002 black on black Z06 with only 8500 miles. Paint and leather interior look new. Asking price is $40K. What should I offer for this car?
10-28-2023, 10:05 AM
#2
Safety Car
I’d say $35k if it’s in pristine condition like you said also keep in mind that with such low mileage tires may be original and need to be changed. Good luck
10-29-2023, 08:37 AM
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Keep in mind that prices seem to be softening on used cars - and Corvettes are not immune to that drop. Whatever you offer, don’t get drawn into paying a premium only to have the value of the car take a significant drop as the market comes back to normal levels. Weigh that against the fun factor of getting the car and it putting a smile on your face.
It does sound like a really nice, low mileage car. Good luck if you go with the purchase.
It does sound like a really nice, low mileage car. Good luck if you go with the purchase.
10-29-2023, 10:05 AM
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I believe the entire Used Car market is due for a price correction, having said that a nice C5 ZO6 do carry a higher price than a norman C5. And this is just my observations, but I have never seen so many C8's on different sites Cars.com Carfax and even FB and one sticks in my memory, a 2023 C8 with only 275 miles on it, I asked and the seller said he just doesn't have time to drive it, . . . less that 300 miles on it ? How much time and effort was it to go in and order one ? Crazy ! 
10-29-2023, 10:43 AM
#5
Melting Slicks
40 k is ridicules, if your paying a premium for 8500 mile car you would be hesitant to drive and put on miles
the price trend is coming down at this point across the board
the price trend is coming down at this point across the board
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grinder11 (10-29-2023)
10-29-2023, 11:01 AM
#6
10-30-2023, 06:38 AM
#8
One must remember that on a forum like this most folks just flat can't comprehend spending big bucks for a rare extremely low mileage more than 20 year old car. It simply doesn't fit with their purposes of driving and modifying their car. It doesn't match their use and desires.
On the other hand, those types of cars are rare and will become increasingly so as time goes on. You're not going to lose money on them long term if you maintain them properly and don't drive them an excessive amount of miles. If you do want to drive it, there is no comparison in an 80,000 mile C5 and an 8,500 mile pure stock car.
If you want the very best and can afford it, paying 40 grand is not totally out of consideration.
On the other hand, those types of cars are rare and will become increasingly so as time goes on. You're not going to lose money on them long term if you maintain them properly and don't drive them an excessive amount of miles. If you do want to drive it, there is no comparison in an 80,000 mile C5 and an 8,500 mile pure stock car.
If you want the very best and can afford it, paying 40 grand is not totally out of consideration.
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AutoAvngr2020 (10-30-2023),
captain vette (10-30-2023)
10-30-2023, 08:23 AM
#9
The main thing is this. Low miles is not always a good thing if not stored properly. Seats dry out as do gaskets. Fluid Get moisture and create brake issues. Not driving a car can be worse than driving it some.
The key is shop around and you will find you can find a car with a few more miles but in similar condition to the 40K mile car. My 02 Convertible was in much better shape at 31K miles than a similar car I found with 9K miles. It was stored in a garage and had paint damage, cracked seats and the tires were shot. The roof even needed work.
The key is some miles but over all condition. One key on a Z06 is to find one that is stock or if it is modified it is well documented to know just what you have. Many guys keep a book on mods and recipes so you do not have to guess what it has.
The goal is to get the best car and the best car is not always the most expensive one. Take your time and really look around. I am always an advocate to spend more to buy the best car you can afford but I will also say do not over pay as some people are off track on pricing.
40K and less miles do not hurt a thing. Generally a well cared for car with 20K to 40K miles is the sweet spot. It was driven enough to keep things up but not enough to see much damage.
The key is shop around and you will find you can find a car with a few more miles but in similar condition to the 40K mile car. My 02 Convertible was in much better shape at 31K miles than a similar car I found with 9K miles. It was stored in a garage and had paint damage, cracked seats and the tires were shot. The roof even needed work.
The key is some miles but over all condition. One key on a Z06 is to find one that is stock or if it is modified it is well documented to know just what you have. Many guys keep a book on mods and recipes so you do not have to guess what it has.
The goal is to get the best car and the best car is not always the most expensive one. Take your time and really look around. I am always an advocate to spend more to buy the best car you can afford but I will also say do not over pay as some people are off track on pricing.
40K and less miles do not hurt a thing. Generally a well cared for car with 20K to 40K miles is the sweet spot. It was driven enough to keep things up but not enough to see much damage.
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grinder11 (10-30-2023)
10-30-2023, 09:47 AM
#10
On many auto forums you hear the so often repeated theory that very low mile cars suffer lack of use problems that it practically becomes a mantra. Not in the interest of being argumentative but relating a different perspective, I can offer my own experience.
I spent 40+ years as a new car dealer. In the course of business, I sold hundreds of low mileage used cars. For every problem I found low mileage related, I found five problems mileage related on the normal cars. Unless the car was set aside and totally neglected, the problems usually amounted to tires being aged out and or a weatherstripping being dried out. Rarely did you find a major mechanical problem requiring a large investment.
Unquestionably the lower the mileage and more original the car...the more value it represents. Understandably many folks could care less about those attributes if it adds many dollars to the cost of acquisition.
I spent 40+ years as a new car dealer. In the course of business, I sold hundreds of low mileage used cars. For every problem I found low mileage related, I found five problems mileage related on the normal cars. Unless the car was set aside and totally neglected, the problems usually amounted to tires being aged out and or a weatherstripping being dried out. Rarely did you find a major mechanical problem requiring a large investment.
Unquestionably the lower the mileage and more original the car...the more value it represents. Understandably many folks could care less about those attributes if it adds many dollars to the cost of acquisition.
The following 2 users liked this post by JALLEN4:
AutoAvngr2020 (10-30-2023),
Cjunkie (10-30-2023)
10-30-2023, 09:54 AM
#11
Melting Slicks
One must remember that on a forum like this most folks just flat can't comprehend spending big bucks for a rare extremely low mileage more than 20 year old car. It simply doesn't fit with their purposes of driving and modifying their car. It doesn't match their use and desires.
On the other hand, those types of cars are rare and will become increasingly so as time goes on. You're not going to lose money on them long term if you maintain them properly and don't drive them an excessive amount of miles. If you do want to drive it, there is no comparison in an 80,000 mile C5 and an 8,500 mile pure stock car.
If you want the very best and can afford it, paying 40 grand is not totally out of consideration.
On the other hand, those types of cars are rare and will become increasingly so as time goes on. You're not going to lose money on them long term if you maintain them properly and don't drive them an excessive amount of miles. If you do want to drive it, there is no comparison in an 80,000 mile C5 and an 8,500 mile pure stock car.
If you want the very best and can afford it, paying 40 grand is not totally out of consideration.
modern vettes that are special and rare are the ZR-1s, IMO
10-30-2023, 10:01 AM
#12
I was given that same advice on this forum when I bought my 2002 C5 Zo6 about eight years ago. It had 4,000 miles then and 12,000 now. Folks told me none of them were worth what I paid and they built too many of them. I just turned down a $10,000 profit offer on it!
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AutoAvngr2020 (10-30-2023)
10-30-2023, 11:01 AM
#13
10-30-2023, 01:00 PM
#14
There will always be people who will pay too much for something. Nothing against your car at all. But I agree with the post that there's nothing rare about a low mile 2002 C5 Z06. Also, your 40 years of being a dealer included many years of much simpler cars with simpler electronics than a C5 has. Most long term storage issues on low mile C5s won't be machanical failure related, they will be electronics failure related. My .02. However, one thing in particular that the '02 Z06 has as a big plus, and that is it's the last full year the C5 Z06 had fuel tanks that you don't need to drop the tanks to change the fuel senders.....
10-30-2023, 04:19 PM
#15
One COULD... find a twenty thousand dallar C5 and "fix it up" with the remainder of twenty thousand leftover from the twenty saved!... Of course that requires one to actuality do some courageous C5 grunt work.... I wouldn't but I'm a ol guy and have plenty of money. 🙄
10-30-2023, 04:35 PM
#16
Look the C5 has carved a special place in the Corvette line. They are showing price increases much sooner than the late C3 and C4 cars.
Why because one the LS engine. Two it is much easier to modify than a C6 or 7.
Also these cars have a steel frame that is better for track time.
The Z06 is showing about $8k to $10k over the convertible and $13k over coupes.
these were light cars and the FRC body is limited. It is about as rare as you get in a wel, priced car.
The truth is yes ZR cars will have added value but also they cost more so the Z06 and Grand Sports may see more increases.
The truth is most of those who predict the Vette market have the Z06 on the buy list.
As for the rest of the C5 cars they will continue to sell for more. Last year the convertible saw a 30% gain.
The C5/is the best of the past in styling cues but also sits on the foundation of the future cars but not with all the electronics that cause trouble.
the key is toss the miles out and find the best car for a good reasonable price and you will be fine.
know the car and shop smart.
Too many never do the home work and buy on emotion and get burned. I just saved a buddy the other day. Was going to buy one of two rolling wrecks. One with a salvage title and another with a $1,000 pan leak.
I found one that needed nothing with less miles in perfect condition for the same price as the oil leak car. The salvage title was just a mess and he would have spent more fixing it up.
Why because one the LS engine. Two it is much easier to modify than a C6 or 7.
Also these cars have a steel frame that is better for track time.
The Z06 is showing about $8k to $10k over the convertible and $13k over coupes.
these were light cars and the FRC body is limited. It is about as rare as you get in a wel, priced car.
The truth is yes ZR cars will have added value but also they cost more so the Z06 and Grand Sports may see more increases.
The truth is most of those who predict the Vette market have the Z06 on the buy list.
As for the rest of the C5 cars they will continue to sell for more. Last year the convertible saw a 30% gain.
The C5/is the best of the past in styling cues but also sits on the foundation of the future cars but not with all the electronics that cause trouble.
the key is toss the miles out and find the best car for a good reasonable price and you will be fine.
know the car and shop smart.
Too many never do the home work and buy on emotion and get burned. I just saved a buddy the other day. Was going to buy one of two rolling wrecks. One with a salvage title and another with a $1,000 pan leak.
I found one that needed nothing with less miles in perfect condition for the same price as the oil leak car. The salvage title was just a mess and he would have spent more fixing it up.
10-30-2023, 06:00 PM
#17
On many auto forums you hear the so often repeated theory that very low mile cars suffer lack of use problems that it practically becomes a mantra. Not in the interest of being argumentative but relating a different perspective, I can offer my own experience.
I spent 40+ years as a new car dealer. In the course of business, I sold hundreds of low mileage used cars. For every problem I found low mileage related, I found five problems mileage related on the normal cars. Unless the car was set aside and totally neglected, the problems usually amounted to tires being aged out and or a weatherstripping being dried out. Rarely did you find a major mechanical problem requiring a large investment.
Unquestionably the lower the mileage and more original the car...the more value it represents. Understandably many folks could care less about those attributes if it adds many dollars to the cost of acquisition.
I spent 40+ years as a new car dealer. In the course of business, I sold hundreds of low mileage used cars. For every problem I found low mileage related, I found five problems mileage related on the normal cars. Unless the car was set aside and totally neglected, the problems usually amounted to tires being aged out and or a weatherstripping being dried out. Rarely did you find a major mechanical problem requiring a large investment.
Unquestionably the lower the mileage and more original the car...the more value it represents. Understandably many folks could care less about those attributes if it adds many dollars to the cost of acquisition.
One must remember that on a forum like this most folks just flat can't comprehend spending big bucks for a rare extremely low mileage more than 20 year old car. It simply doesn't fit with their purposes of driving and modifying their car. It doesn't match their use and desires.
On the other hand, those types of cars are rare and will become increasingly so as time goes on. You're not going to lose money on them long term if you maintain them properly and don't drive them an excessive amount of miles. If you do want to drive it, there is no comparison in an 80,000 mile C5 and an 8,500 mile pure stock car.
If you want the very best and can afford it, paying 40 grand is not totally out of consideration.
On the other hand, those types of cars are rare and will become increasingly so as time goes on. You're not going to lose money on them long term if you maintain them properly and don't drive them an excessive amount of miles. If you do want to drive it, there is no comparison in an 80,000 mile C5 and an 8,500 mile pure stock car.
If you want the very best and can afford it, paying 40 grand is not totally out of consideration.
So very much appreciate the experience, reasoning, and advice such as this in my pursuit.
I do have a generous budget, but that just gives me the option to find the one that fits my personal criteria.
I've owned over 40 vehicles to date in my years, but am not particularly in a hurry and have more than this forum as a resource in my buying decision.
It would seem that, indeed, one size does not fit all in buying a C5 or any vehicle for that matter. But in the realm of collector or semi collector sports cars, the value is as much in the eye of the beholder I would think, as it is in any $$$$$ amount, condition, miles, and options not to mention color and body/trim type.
To me, some seem to get a bit dogmatic and imbue there own recent or limited experience to pass it on to others.
That said, I find it all just a part of the quest.
11-02-2023, 11:14 AM
#18
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These are Hagerty's Oct. '23 numbers on a '02 Z06...
#2 excellent condition..$40,500
#3 good..$27,300
Good Luck!
#2 excellent condition..$40,500
#3 good..$27,300
Good Luck!
11-02-2023, 02:07 PM
#19
11-02-2023, 02:15 PM
#20
Look the C5 has carved a special place in the Corvette line. They are showing price increases much sooner than the late C3 and C4 cars.
Why because one the LS engine. Two it is much easier to modify than a C6 or 7.
Also these cars have a steel frame that is better for track time.
The Z06 is showing about $8k to $10k over the convertible and $13k over coupes.
these were light cars and the FRC body is limited. It is about as rare as you get in a wel, priced car.
The truth is yes ZR cars will have added value but also they cost more so the Z06 and Grand Sports may see more increases.
The truth is most of those who predict the Vette market have the Z06 on the buy list.
As for the rest of the C5 cars they will continue to sell for more. Last year the convertible saw a 30% gain.
The C5/is the best of the past in styling cues but also sits on the foundation of the future cars but not with all the electronics that cause trouble.
the key is toss the miles out and find the best car for a good reasonable price and you will be fine.
know the car and shop smart.
Too many never do the home work and buy on emotion and get burned. I just saved a buddy the other day. Was going to buy one of two rolling wrecks. One with a salvage title and another with a $1,000 pan leak.
I found one that needed nothing with less miles in perfect condition for the same price as the oil leak car. The salvage title was just a mess and he would have spent more fixing it up.
Why because one the LS engine. Two it is much easier to modify than a C6 or 7.
Also these cars have a steel frame that is better for track time.
The Z06 is showing about $8k to $10k over the convertible and $13k over coupes.
these were light cars and the FRC body is limited. It is about as rare as you get in a wel, priced car.
The truth is yes ZR cars will have added value but also they cost more so the Z06 and Grand Sports may see more increases.
The truth is most of those who predict the Vette market have the Z06 on the buy list.
As for the rest of the C5 cars they will continue to sell for more. Last year the convertible saw a 30% gain.
The C5/is the best of the past in styling cues but also sits on the foundation of the future cars but not with all the electronics that cause trouble.
the key is toss the miles out and find the best car for a good reasonable price and you will be fine.
know the car and shop smart.
Too many never do the home work and buy on emotion and get burned. I just saved a buddy the other day. Was going to buy one of two rolling wrecks. One with a salvage title and another with a $1,000 pan leak.
I found one that needed nothing with less miles in perfect condition for the same price as the oil leak car. The salvage title was just a mess and he would have spent more fixing it up.