C4 ZR1 - Value/Investment

[hottrodcrazy]

Hello,

I'm thinking of buying a 1991 ZR1 with about 6k miles. It's got a clean carfax and is in excellent condition, even has original tires. I'm wondering is $25k a good buy for one with that kind of mileage? I've looked around and it seems to be.

Any thoughts are appreciated. Thanks.

[Kevin]

don't buy it as an investment, buy it as a car.

[hottrodcrazy]

I'm trying to determine if it is a good buy at that price, not whether people feel it should be purchased as an investment. So, to clarify my question, is it a good buy at that price, regardless of my reason for purchasing?

[LGAFF]

Market is all over the place....I would say anywhere from 23.5 to 27 is pretty reasonable for a mint well maintained example w/6K miles. Go on autotrader and search comparables

[Fully Vetted]

It kind of depends on what you're going to do with the car. If you are buying it for the originality and are going to drive it sparingly to keep the miles low that's about the ballpark. If you're going to mod it and drive it and not worried about the miles there are much more affordable 30k-60k mile examples for under $20k. If the miles don't matter then why pay for something with super low miles?

[Kevin]

if you are going to drive it factor in $1000 for injector replacement and at least $1500 for tires

[Fully Vetted]

if you are going to drive it factor in $1000 for injector replacement and at least $1500 for tires

Very true. The pre-'93 injectors don't do well with our newer fuel. That's why Kevin is referring to replacing the injectors. While they may be ok now at some point it will have to be addressed. New FI's at FIC are $670 a set plus labor unless you do it yourself which is actually not that difficult. I had mine done since they were in the motor anyway.

On the tires...even if they only have 6k miles on them they are still 22 years old.

[mike100]

if you are going to drive it factor in $1000 for injector replacement and at least $1500 for tires
yes for sure this...

The nickel and dime stuff add up. Dormant car maintenance will be surprisingly high.

[hottrodcrazy]

I've done a good bit of looking and definitely seen higher mileage cars for less money, but with 6k miles I definitely don't intend to drive it often, it would be garaged and only driven a few miles every so often, hence the thoughts of using it as an investment. I would NOT mod it at all. I've seen them with a good bit more miles for about the same price so I feel it's a pretty good price. I'm just hoping it's old enough that at this point it's going to hold its value and increase at some point in the future.

[Kevin]

good luck with that

[Fully Vetted]

I certainly don't see values dropping much more than they are. I don't see these cars as being bad investments at all. It would, however, be a shame to buy one and rarely enjoy the purpose for which it was built. That is, to pin your eyeballs to the back glass...

[SteelBlueZR1]

I bought my Steel Blue ZR-1 with 3,200 miles and original tires that disintegrated ( on the way home from installing new fuel injectors) - 2 years ago and paid a similar price. The car was appraised independently for insurance purposes at $34.5k.

I agree with this car being a potential investment long-term, which is also a great car to drive often and hard. The car suffers from sitting, and the more I drive mine, the better it gets. Expect to replace oil lines, all fluids, and weatherstripping too... I have put about $5k into my low mileage car, having done most of the repairs and maintenance with WAZOO.

I now have 8k miles on a showroom new Z that I enjoy driving as much as I can. Choose a rare color combo, or late model 94-95 car if you want the best investment. Definitely drive and see that secondaries open, and put car on a lift before you buy it. Good luck.

[Z51JEFF]

I've done a good bit of looking and definitely seen higher mileage cars for less money, but with 6k miles I definitely don't intend to drive it often, it would be garaged and only driven a few miles every so often, hence the thoughts of using it as an investment. I would NOT mod it at all. I've seen them with a good bit more miles for about the same price so I feel it's a pretty good price. I'm just hoping it's old enough that at this point it's going to hold its value and increase at some point in the future.

You buy that car to just sit on it to make some money youre going to be sittin on it for awhile,Id say maybe 5-7 years at the least.As stated the cars going to need some work if it hast already been done.

[scottfab]

It kind of depends on what you're going to do with the car. If you are buying it for the originality and are going to drive it sparingly to keep the miles low that's about the ballpark. If you're going to mod it and drive it and not worried about the miles there are much more affordable 30k-60k mile examples for under $20k. If the miles don't matter then why pay for something with super low miles?


Ding Ding Ding.... what he said.

[hottrodcrazy]

I bought my Steel Blue ZR-1 with 3,200 miles and original tires that disintegrated ( on the way home from installing new fuel injectors) - 2 years ago and paid a similar price. The car was appraised independently for insurance purposes at $34.5k.

I agree with this car being a potential investment long-term, which is also a great car to drive often and hard. The car suffers from sitting, and the more I drive mine, the better it gets. Expect to replace oil lines, all fluids, and weatherstripping too... I have put about $5k into my low mileage car, having done most of the repairs and maintenance with WAZOO.

I now have 8k miles on a showroom new Z that I enjoy driving as much as I can. Choose a rare color combo, or late model 94-95 car if you want the best investment. Definitely drive and see that secondaries open, and put car on a lift before you buy it. Good luck.

It sounds like we're both on the same page, I've shopped around and tried to find a rarer color, maybe not as rare as your color, but definitely less common than some. And I do expect there will be some maintenance needed regardless that it still looks brand new. I've posed the question of possible issues in the technical section, but thanks for mentioning the oil lines. Fluid and weatherstripping I would have figured on and the oil lines don't surprise me either.

[cvette98pacecar]

I've done a good bit of looking and definitely seen higher mileage cars for less money, but with 6k miles I definitely don't intend to drive it often, it would be garaged and only driven a few miles every so often, hence the thoughts of using it as an investment. I would NOT mod it at all. I've seen them with a good bit more miles for about the same price so I feel it's a pretty good price. I'm just hoping it's old enough that at this point it's going to hold its value and increase at some point in the future.

There is no car that has ever been a good investment. If you bought a L88 in 69 for 7k new that money with a modest interest rate would be worth around 800K today. Now I did not figure in the big boom from 1992-1999 when most funds were returning more than 15% on your money in a single year.
In today's market an all original L88 today is worth about 450K.
So here is my opinion. If you are going to mod it buy one with high miles and use the extra money to get the mods done. If you want a garage queen that you can drive occasionally by a 20K mile car. If you want a Museum piece by the 6k mile car.
From my experience I can tell you there is nothing nicer than seeing the owner of an LSV or Z06 yaw drop when you fly by them.

The FBI group has been spanking C5 and C6 for the last couple of years. This year I am hoping to bring my purple beast and see how well she does against the C5 and C6.

[Racinfan83]

"Expect to replace oil lines, all fluids, and weatherstripping too...*"

What do I need to look for regarding the oil lines? Not to hi-jack the thread, but I'm a new owner too, and haven't seen anything about this?

[Fully Vetted]

There is no car that has ever been a good investment.

This topic has been beat to death and I'm sure we will have to just agree to disagree but that statement is just not true. You are comparing apples to oranges. There are cars that are good investments. As compared to you're top tier mutual funds, maybe not but why does it have to out perform any stock or mutual fund or any other investment in order for it to be considered a good investment? If you are going to spend some money on a car there are cars to avoid and cars that are good investments when compared to other cars. Are there better ways to invest your retirement money? Of course there is. But that doesn't mean cars are bad investments. That just means there are other better investments. But there are also bad stocks and bad mutual funds.

You're also not taking into account the buyers ability to find a good bargain. Last year I bought a '03 Jeep Wrangler for $7500 before a buddy of mine totalled it. I bought because I knew Jeeps hold there value better than anything else on the road. Period. And they are very easy to work on. Insurance paid me $12,500 for it. All I had in it was a set of $300 bumpers which the insurance company reimbursed me for. It sold new for less than $16k 9 years and 100,000 miles ago. I made $5k in less than a year on that Jeep. And I got to drive it. I'd say I did ok on that investment. And I've done that more than once.

[Blue Flame Restorations]

Unless the low mileage Z has been stored outside all it's life, weatherstripping won't be an issue. My 9k mile 95 has very supple rubber everywhere.

[Schrade]

There was a thread on one of the local vette boards a few years ago about a barn (condo GARAGE) divorce car - late '80 Aquamarine convertible. NEW, and had sat there with around 2k for 20 years. New owner got it for a song, and spent a small fortune on brakelines, gaslines, interior dust (top was off), etc., etc., ...

I almost paid $26 for a 14k '95 Z. Didn't like the low miles - preferred about 25 - 30k, and found it, for $10k less. Do your homework. Look at 'Sold For' listings on eBay too.

The local (eastern NC) vette market is DRY. Check all your local rags, not just for asking prices, but for absolute quantity. Look at 'Sold For' listings on eBay too.

[hottrodcrazy]

Fully Vetted, I couldn't have said that better myself! It's not a fair comparison at all. I'm speaking of a good investment in terms of cars, not in terms of every investing option. I've invested in classic vettes and I've invested in stocks, mutual funds etc. I know both can either payoff or they can lose you money.

I'm not an inexperienced person when it comes to looking for ways to invest my money or when it comes to cars, most specifically corvettes. I have chosen to reach out for thoughts and experienced opinions on this forum because when it comes to corvettes I am inexperienced about ZR1's in that I have never owned one. Some people have mentioned that I shouldn't look at the car as an investment if I'm going to mod it, for me, I'd say that goes without saying. I don't intend to mod it, I don't intend to put more than a few hundred miles a year on it, and I intend to keep it in a garage, as it has been kept it's whole life. I understand the opinions of those who feel a Corvette should be enjoyed. I've previously owned a Z-06 which I loved and drove every chance I got, this however, I don't feel is the car to do that with. If the miles were higher, yes absolutely I'd drive it frequently.

I also feel like based on some of the responses I've gotten some people feel when I'm speaking of this being an investment I have unreal expectations. I know this car isn't going to double in value within 10 years or anything like that. One can dream, but I'm a realistic guy, I know that won't happen. If I can keep it atleast a few years and make a few thousand dollars if I decide to sell it then I consider that a good investment because right now, in today's economy that's not a bad return.

Anyway, thanks for the opinions and thoughts.

[Kevin]

then buy it, don't bother doing anything to it and roll the dice.

[Fully Vetted]

I actually wish I had 2. One modded like I have now and one absolute prestine 5k mile NCRS winner that I could store in a time capsule to be opened in about 30 years. But, if I could only have one it would def be the driver.

[RyanChappel]

We can end this now....

My '91 (red/red) has 19K miles, original, two sets wheels (orig and Amolds), Has new Accel injectors, exhaust refinished, Air conditioner updated,CD player and speakers rebuilt, brakes flushed DOT3, Cluch hydraulics flushed, new secondary fuel pump, BFXBG2 engine calibration,
garaged, covered, still smells like new leather....

$ 25K today....save yourself 3-4 grand on upgrades...

Ryan Chappel

[rkreigh]

ZR-1 is a great car and if that car is in really nice shape it's a fair price

you can always find "better for cheaper" if you look long enough

my advice, get a ZR-1, invest in driving it often, profit from the pleasure

I've got just under 80k miles on a 500 rwhp stroker ZR-1

I could have "put it away" and it would be worth more, but I value the stick time way more than saving it for someone else

the ZR-1 isn't rare enough to be a hemi cuda or shelby or L88 vette

but for my money, I'd drive them TOO!!

life is too short to drive junk, get a ZR-1 ASAP and drive it like you stole it

they have more problems from sitting than being used. I'm on my 4th ZR-1 now and I make sure to get the car out a few times per week and it's been super reliable, and the only thing I need to budget for is tires!!

needs new ones again.