New/old corvette value?
 

Folks need some advice, just inherited 2004 red corvette convertible, absolutely pristine like new condition, ONLY 7K MILES on it that's right not 70 but 07k, has never been touched by water, still new CAR SMELL, climate controlled garage stored. WHAT SHOULD BE VALUE, RED WITH SADDLE INTERIOR AND TOP.

Hagerty valuation tool says $28K for a car in "Concours" condition.

"Condition #1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is "concours."

https://www.hagerty.com/apps/valuationtools/2004-Chevrolet-Corvette?id=69992

25 to 30k

It will depend on the few add-ons available also and if that car has them.


Is it a manual or automatic?

It is not Concourse of course. At least not today, that's impossible withought you putting a lot of elbow grease into the vehicle. And Hagerty pumps up values to sell insurance. Concourse, that takes special detailing and care in every nook and cranny of the car. Concourse means perfect. However it sounds in the top 5% unless you aren't disclosing something. I'd guess based on my experience that it is worth $24-25,000 to the right person, but you have to find that person also. You do have a very desirable color combination though.... I'd buy that in a heartbeat if I was looking. Red and saddle, it would match my Jeep...

My experience, mileage does matter. I bought my Corvette three years ago, a 2001 convertible with only 19,000 miles on it. Immaculate and actually owned by the little old lady who bought it new and put less than 1,000 miles a year on it. I paid $20K Paint and interior are showroom. It was a close call as this other, more aggressive guy wanted to sell me his red convertible with 67,000 miles on it for $19,000 and I was more naive at the time. I was happy to pay a little more for a better car.

Higher miles like that kill a Corvette value, that's just how it is. And his was probably worth around $12-15,000 tops.

But getting back to yours, again I'd guess $25,000 However, I had read a report last year that the C5 Corvettes are starting to climb in value.. But, I read those reports all the time so who knows...

since it's worth so little, why not drive & enjoy it? By "little", I mean under $30K. $30K doesn't buy much in a new vehicle these days.

The lower mileage car can command a premium price, but it can sit for a long time for the buyer willing to pay that price to show up. Or it could sell the first day.

If it belonged to some one you loved, I would keep it and use it. Never mind the value or that you are putting miles on it.

I agree with those two guys above.

Keep it, drive it, enjoy it. You inherited it, keep it for the memories. He wanted you to have it. Plus they get 30 mpg.

I don't know how old you are but my insurance with Geico is nothing... A couple hundred a year... And that's decent coverage with $250 deductibles on collision & comp. You just have to tell them in the beginning you will drive it less than 2,500 miles a year.

Check out the Corvette forum classifieds. You could get a rough idea. Post what you have there, you will get a variety of answers. They do like low mileage vettes.

Not that the deceased cares now, but he or she probably left you the car hoping you'd drive and enjoy it.

Never mind the value or that you are putting miles on it.