Those of you who have been reading my recent posts know that I have this Corvette mania, that I've had for many years. I was thinking about it a bit, and it turns out that an excellent private party C4 (1996 with the LT4 and a six-speed) can be had for about 15,390, according to Kelley Blue Book. I remember coveting this very car back in college.

Anyhow, here is the thought process:
1) Call and ask Progressive what insurance will be like for a 28-year old male homeowner with a clean driving record
2) Find out what I can get for the P5
3) Find a Corvette to my liking
4) Make the trade
5) Bask in the warm comfort that I would have accomplished something on the list of things that I want to do before I die (which, hopefully, will be a long time coming since I am healthy)

Man, it's a toss up, because I do love the P5 as well. Then again, I don't have a glass case of Protege collectibles in my house (though I can say that of various Corvette memorabilia). On the other hand, I haven't called Progressive yet, have I? Then there is the added expense of several more years of financing ahead of me....

 

I say go for it at the same time I say dont do it. I say do it cause there is nothing like owning your "Dream" car. I can speak from experience. But at the same time dont sell yourself short. If you like the C4's than you are good but if you prefer the newer body styles save your money and be paitent.

 

Several guys in my neighborhood own Vettes, but none of them are daily drivers. I think that should tell you something. You're gonna regret not having a practical car soon enough. By the way, the guys with the Vettes are all in their 40's. I say wait til you're a middle-aged man to get a middle-aged man's car like a Vette or a Boxter.

 

Ditto. Plus if you plan to have kids you should think of that before your dream car.

 

I've had a chance to drive numorous Vette's on the track from 64 - 2005 and while they are neat cars , they are NOT known for their reliabilty. Even though you are just over the magic 25 you will still get raped on insurance. My recommendation is wait till forty and then buy an NSX , if you must have a Vette then get one in about 10-12 years as a weekend car. I know the dream car thing , I'm a Ferrari nut and can actually afford a seventies 308 but I now know better. I went through this with my single seat race car , 2 G's cornering , 3g's braking was highly addicting but after 2 or 3 years I realized I'd given up a lot of things in order to own/race the car. Dream cars are fun as long as you do not have to give up anything else. Keep the P5


Tom

 

just a new stock engine for the p5? then get the vette.

new forged engine for the p5? p5/w0mped

 

go for the vette! You'll love it. If you can afford it it will bring you more pleasure than the p5.

 

Ok, well, as a midle-aged man still waiting for the opportunity to buy his dream car I will only say this: I think you will regret not having a reliable daily driver, esp. in January in Michigan.
But it's certainly your choice and if you think the 'Vette will bring you the happiness you desire, then go for it! Why ask us?
Seriously, if you are asking, then there is a fair amount of doubt.

 

I agree with Billzebub and Tom Grossmann. Youll regret not having a car you can trust.

 

...well, not once in my life did I ever regret not owning a Camry, and that's the most trustworthy car going.

Plus, look at it this way. For decades now, Chevrolet consistently sells 30,000-40,000 Corvettes a year. I assume many of those are second or third replacements. I will admit that they do get black dots in Consumer reports for reliability. But hey, it tops EVERY owner satisfaction survey in the biz, whether i'ts JD Powers, CR, etc. I guess some cars are worth a few fusses...

Just speculation, but how many "durability" concerns do you suppose are caused by owners really thrashing these cars? A lot of Corvettes live very hard lives. Many are also pampered, but consider this interesting tidbit: when NHTSA started doing tilt table evaluations to determine the propensity of cars (and in particular) SUV's to roll over, they found the hardest to roll (volume production) car at that time was the Chevrolet Corvette. But, according to accident claim data that they also had access to, what do you suppose the most frequently rolled vehicle was that year? That's right, Chevrolet Corvette.

I think I would hate the loss of some utility, and those who mention the kid thing really drive home a strong point. The choice becomes not just "P5 vs. Corvette", but "P5 vs. Corvette plus some solid winter beater w/ 4 doors". A buddy of mine has a 1993(?) Protege sedan in nice shape, but in need of an auto trans. Sounds like a good choice for a winter beater to me. Plus, I would not have to say goodbye to you guys.

 

"Plus, I would not have to say goodbye to you guys."

True, but who the hell reads the 1st Gen section, anyway, LOL.

 

Now thats just wrong LOL

I say if your a single guy, yea go for it. Me I'm a single dad so I will pay off the Pro first, thin buy the toy. That way I know I have a good daily driver. I wished I could afford 2 car payments. About 6 mo ago I saw a 98 White Vette with only 60k
(+or-) for 17k. He was in a bind with a baby on the way. Man what a steal.

 

That's what I was really saying: that a Corvette should not be your only car.

 

Only if it's got a six-speed!

 

Okay, I have found some Vettes. Even researched some pricing. And, what I am finding defies explaination. It turns out that nearly EVERY Corvette is subject to wild price speculation, not just the rare or ultra desirable ones. I called a dealer on a 1993 6-speed Coupe, and asked him about the car. The car was priced four grand over KBB "Excellent". He told me that KBB does not really matter for Vettes, the cars price out in the market at whatever the market will bear. Thinking this was a load of BS, I did some research. And, truthfully, several of the Corvette price guides that I came across (which detail actual average selling prices) do vary wildly from KBB. This is insanity. I would rather keep my P5, than pay $17K for a twelve year old car (regardless of what kind of shape it's in). Then, there is the calculation of finance charges, which over five years (at market-average rates for used cars) add up to about 35% the cash value of the Vette.

So, I am now thinking, why not just wait it out, pay off the P5, and then see what I want to do about the sports car thing? Afterall, just because I am getting married and paying bills does not mean it will be impossible to own a sports car until I am old and gray, right?