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1. Corvettes are great investments
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Watch out with this one. Most Corvettes show little
return based on their original purchase price. Even those that
may deliver nice returns, when one factors in inflation over the
years of ownership, they do not appear so great. Buy and enjoy
your Corvette rather than worrying about how much they are worth
now and in the future. Usually older Corvettes will not depreciate
as fast, so if not losing much money is your top priority, I suggest
you consider buying an older model. |
2. Only look for original and non-modified
Corvettes |
Many owners who modify their Corvettes do it to
make them do what the Chevy engineers may have avoided. Even Corvettes
are compromised for certain areas like smooth driving, good gas
mileage, and a fixed amount of options. Some owners auto cross
theirs, others enjoy an occasional trip to the drag races, while
others may choose to personalize theirs with custom wheels and
tires.
These actions do not make them less valuable or more valuable
either. It all comes down to the buyer's preferences. My only
advice is to carefully consider when some of these modifications
may be on the extreme side. If you want to enjoy an occasional
drive in your Corvette, a race modified motor or track tuned suspension
may not be to your liking. |
3. Low mileage ones are your best
choice |
When choosing between two similar Corvettes this
may make sense. But you may discover that many owners of higher
mileage Corvettes perform proper maintenance on a scheduled basis
versus owners of low mileage ones. This prudent action allows
their higher mileage Corvettes to exceed 150,000 miles or more
without any major expenses. Some lower mileage Corvettes owners
may lose interest and get lazy with the maintenance schedules
resulting in an increased risk to the next owner of them.
Regardless of the mileage, it always is wise to have a mechanic
or a Corvette expert take a good look at any Corvette you may
be consider purchasing. I have known some buyers to have good
luck with higher mileage Corvettes versus the lower mileage ones
who unfortunately found theirs to need serious mechanical attention. |
4. For pricing info consult other
Corvette owners |
Careful here also. Many Corvette owners feel their
Corvette is worth a great deal, but think others Corvettes are
worth less than theirs. Call it human nature. It always comes
down to these simple and basic principles - what the buyer is
willing to spend and what the owner is willing to accept. Most
times a fair compromise can be reached whenever both parties are
realistic.
Pricing is very fluid and you would be wise to check out many
reputable sources for the most up to date and accurate pricing
guides. There are many online sources (listed in my Cool Links
Section), Corvette publications, and the standard ones like Kelly
Blue Book, Edmunds, and the NADA pricing guides. |
5. Corvettes for sale in good are
always available |
Once again this one is not so. There are usually
many Corvettes for sale but the majority does not represent great
values. My observations say that it takes time and work to find
the best Corvette for your dollar. Do not fall for the fatal trap
of immediately buying the first Corvette you look at either.
Take your time, do your homework (visit web sites like this and
the ones in my Cool Links section), and be prepared to walk. Consider
joining a local Corvette club or the National Corvette Restoration
Society to get good advice and assistance on buying a Corvette.
Corvette shows are another great place to locate a good Corvette
for a fair price too. It's not a fast and easy task to accomplish,
but the rewards can be substantial if you follow this proven strategy. |
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