Possible Corvette Convert Requires Advice
Discussion
Hello All,
I have admired Corvettes for many years, but have never really considered one as a viable alternative to a mainstream car. However since Stratstone have come on the scene they seem to be more readily available, at least in the NE where I live.
I have spent most of the weekend reading the BB and it would appear a lot of people seem to import their own cars either from the USA or Europe In terms of savings what are the differences between say buying a UK car, importing one from the USA or importing one from Europe?.
One of the things I would like to get an idea of is the real cost of ownership in terms of depreciation as prices seem to vary greatly. I would be gratful for some general info such as
1.If buying a new car how long do people tend to keep them?
2.How easy is it to sell on. I had a word with Strat but they could not really give me any idea what a new car would be worth in say two years time.
3. Would you say in terms of depreciation a Corvette looses more or less than say an Audi RS4/ Boxster S etc.
4.Are valuations particularly sensitive to mileage, as per Porsches, Ferraris etc
Any information on what it's like to own one would also be appreciated.
Regards
Keith
I have admired Corvettes for many years, but have never really considered one as a viable alternative to a mainstream car. However since Stratstone have come on the scene they seem to be more readily available, at least in the NE where I live.
I have spent most of the weekend reading the BB and it would appear a lot of people seem to import their own cars either from the USA or Europe In terms of savings what are the differences between say buying a UK car, importing one from the USA or importing one from Europe?.
One of the things I would like to get an idea of is the real cost of ownership in terms of depreciation as prices seem to vary greatly. I would be gratful for some general info such as
1.If buying a new car how long do people tend to keep them?
2.How easy is it to sell on. I had a word with Strat but they could not really give me any idea what a new car would be worth in say two years time.
3. Would you say in terms of depreciation a Corvette looses more or less than say an Audi RS4/ Boxster S etc.
4.Are valuations particularly sensitive to mileage, as per Porsches, Ferraris etc
Any information on what it's like to own one would also be appreciated.
Regards
Keith
I bought my C5 new over 5 years ago and am not interested in changing it as its exactly the car I want. There are number of people here who only sell their 'vettes in order to buy another one because they fancy one from a different model year ! If you're the kind of person who just wants the latest toys then you know you'll have to take a hit in the pocket in a year's time anyway.
I think selling is more dependent on getting your advert in front of the right buyer rather than lowering the price. Depreciation is comparatively good and is less mileage dependent because they have a habit of going on and on unless you drive into something solid. You get an awful lot of fun driving it in the meantime too and the CCCUK is a friendly & active club !
I think selling is more dependent on getting your advert in front of the right buyer rather than lowering the price. Depreciation is comparatively good and is less mileage dependent because they have a habit of going on and on unless you drive into something solid. You get an awful lot of fun driving it in the meantime too and the CCCUK is a friendly & active club !
Hiya,
The decision can be quite easy if you tell us what you want most from the Corvette of choice, for example looks, performance, classic or not etc.. What your estimated budget is. Daily driver or not.
I have had my C5 for a year now and I am certainly happy with my choice. The C6 Z06 and the C6 were out of my price range so the choice was quite simple as I wanted the best performance Vette for my money. I could have gone with the Lotus inspired C4 shape I just personally preferred the shape of the C5. Many are the complete opposite, look at some pics of good examples and see which you like best.
I have no experience of other Vettes so I can't really say one is better than the other. The C5 is physically the largest I believe and does have a poor turning circle. Perhaps not the car of choice if parking areas are small, i.e city worker. Pretty poor vision from certain views out of the car. Other than that nothing but respect for it. Great performance, will rival most peformance cars around. But still remains comfortable, looks great, sounds great and tyres aside is pretty cheap to maintain.
1. I plan on keeping mine unless financial situations change.
2. Not sure how easy to sell on really, just a price on some in the window could tempt passers, looks to price. Otherwise you are limited to people looking for them usually. It's the same with any other car thousgh really. Just looking at the classifieds on here suggests the market isn't flooded with them at least.
3. I would say less as I am confident I could sell mine for the same price I paid a year ago. I doubt I could say the same of the others, however my car is already 7 years old.
4. I don't think they are. The car is obviously more popular in the states and some of them have run into the 200k miles and are still 100%, according to the owners. They seem to have bullet proof engines, that you will notice are very lazy engines when driving "normally".
The decision can be quite easy if you tell us what you want most from the Corvette of choice, for example looks, performance, classic or not etc.. What your estimated budget is. Daily driver or not.
I have had my C5 for a year now and I am certainly happy with my choice. The C6 Z06 and the C6 were out of my price range so the choice was quite simple as I wanted the best performance Vette for my money. I could have gone with the Lotus inspired C4 shape I just personally preferred the shape of the C5. Many are the complete opposite, look at some pics of good examples and see which you like best.
I have no experience of other Vettes so I can't really say one is better than the other. The C5 is physically the largest I believe and does have a poor turning circle. Perhaps not the car of choice if parking areas are small, i.e city worker. Pretty poor vision from certain views out of the car. Other than that nothing but respect for it. Great performance, will rival most peformance cars around. But still remains comfortable, looks great, sounds great and tyres aside is pretty cheap to maintain.
1. I plan on keeping mine unless financial situations change.
2. Not sure how easy to sell on really, just a price on some in the window could tempt passers, looks to price. Otherwise you are limited to people looking for them usually. It's the same with any other car thousgh really. Just looking at the classifieds on here suggests the market isn't flooded with them at least.
3. I would say less as I am confident I could sell mine for the same price I paid a year ago. I doubt I could say the same of the others, however my car is already 7 years old.
4. I don't think they are. The car is obviously more popular in the states and some of them have run into the 200k miles and are still 100%, according to the owners. They seem to have bullet proof engines, that you will notice are very lazy engines when driving "normally".
Edited by C5 FST on Wednesday 19th September 21:33
C5 FST said:
The C5 is physically the largest I believe and does have a poor turning circle.
The C5 has a great turning circle if you follow these simple instructions:1) Switch off traction control / active handling.
2) Wind on full lock for the direction of your choice.
3) 3,500 revs.
4) Drop clutch and plie it on briefly
5) Catch opposite lock
6) You are now pointing the other way in about 15 feet
Seriously though, I have had my 2000 manual C5 for 3 years now. It's done almost 100,000 miles and mechanically is still as sweet as the day I bought it. As it was my first Vette, I bought from a reputable dealer (Chris Graham), hence I paid a slight premium for the peace of mind and unique assistance that Chris provides.
Having said that, I reckon I have lost about 8k on the price in 3 years. When you offset that against minimal servicing costs (oil and filter every time the computer says so) and the fact that the car is so simple that most idiots can work on it (I have just put discs and pads all round myself not a mechanic but reasonably competent with a spanner for 350 quid in parts and a couple of hours simple labour), they are not the expensive as a total cost of ownership proposition. In the 3 years I have only replaced consumables (oil/air filters, mobil 1, 1 set of plugs and discs wearing thin) plus one hub because of a sensor rotting out a connector, and that's it! I do not expect the next 50,000 miles to be too different - after its first service at 100,000 miles - which is still a cheap thing to have done at a garage too!
Add to this a 26mpg average and some fairly serious on track performance (at far lower mpg) accompanied by a V8 Symphony of howls pops and bangs, decent handling despite what knowledge-less stereotype quoters say - a good package.
I am happy to have spent less that 9k on depreciation and maintenance in 3 years than having maybe a smaller depreciation, but higher specialist servicing costs on some over engineered "see one around every corner" European piece of tin (I cleaned that up a bit).
Just be prepared to talk to a lot of people who ask about it as you park - it normally starts "nice car mate, but I bet its thirsty"....
SeeFive said:
Just be prepared to talk to a lot of people who ask about it as you park - it normally starts "nice car mate, but I bet its thirsty"....
The amount of people, including those you expect to have some knowledge of cars (being in the business) that don't believe the mpg is mind blowing!Just get one, they are great!
akeithj said:
I think my minds made up all I need to do is decide which one to go for.
C5 and C6 are fundamentally the same car. C6, being newer, is in many ways "better" although there's room for debate on the styling front.Decide your budget and go for it! Good C5s from £15,000 and new C6 from £36,999. You just can't go wrong!
5 USA said:
akeithj said:
I think my minds made up all I need to do is decide which one to go for.
C5 and C6 are fundamentally the same car. C6, being newer, is in many ways "better" although there's room for debate on the styling front.Decide your budget and go for it! Good C5s from £15,000 and new C6 from £36,999. You just can't go wrong!
The price soon creeps up over the £40k towards the £42/43k mark.
Allways look for the apples, even if they are advertised as pears.
akeithj said:
Hi Guy's,
Thank you to all who have replied, so far I have not really hear anyone have a bad word to say, which is pretty unusual.
I think my minds made up all I need to do is decide which one to go for.
Regards
Keith
,Thank you to all who have replied, so far I have not really hear anyone have a bad word to say, which is pretty unusual.
I think my minds made up all I need to do is decide which one to go for.
Regards
Keith
,
Keith,
Go for the last of the C5's, with the lowest miles you can find.
That will be the 2003 Anniversary models.
or
the 2004 Commemorative model.
They have all the top desirable toys, and the F55 magnetic suspension, which has been carried over to the newer C6. Im'e not sure the 2003 AE have the F55, I think they have the forerunner which is the F45 suspension.
taking a cruise down the motorway at 60mph, yes I know it is a crawl, but expect about 35+ mpg. Anyway, I have the convertible, and when the other half is with me, 60ish is a good speed.
General driving around town I will see 22mpg.
Play a little and we are down to 17.
I would not hesitate to tell you to import one from the U.S.
Particulary Texas, shipping out of Houston.
For one thing, you won't have them out-of-place rear fog lights.
You will find that the C5 depreciation is rather kind to your pocket, esp. if you buy it in U.S.
£1.00 = $2.03 so there has never been a better time to buy.
There is little or no advantage in importing a corvette that is more than 30 months old, the maths are quite straight foreward, and is a reflection of the much softer depreciation on cars in the US compared to the UK.
You can easily obtain an 03 C5 Z06 for £23/25k in the UK with SVA already done.
Expect to pay $34k for an 03 similar model in the US, to which you will need to add shipping plus 30% (forGordon), plus costs of SVA. This will make the purchase excluding SVA about $45k+. The advantage is marginal.
However, were you to buy an 07 Z06 and import, the advantage becomes considerable, and you should be able to both purchase,pay Gordon, and SVA for £44k.
Were you to have been resident in the US, the advantages are obviously that much gtreater since you would have the concession of returning with personal goods (ie both duty and vat free)
You can easily obtain an 03 C5 Z06 for £23/25k in the UK with SVA already done.
Expect to pay $34k for an 03 similar model in the US, to which you will need to add shipping plus 30% (forGordon), plus costs of SVA. This will make the purchase excluding SVA about $45k+. The advantage is marginal.
However, were you to buy an 07 Z06 and import, the advantage becomes considerable, and you should be able to both purchase,pay Gordon, and SVA for £44k.
Were you to have been resident in the US, the advantages are obviously that much gtreater since you would have the concession of returning with personal goods (ie both duty and vat free)
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