Cheap C5 Z06: what to look out for?

Lately I've seen a few sub-$13K C5 Z06s with around 100K, supposedly clean titles, and only minor apparent issues. Have these really fallen that far if they're not low-mileage cream puffs? I remember not too long ago it was hard to find them below $18K for the well-worn examples. So, assuming they aren't inherently fishy, what should a person look for on a 100K mile Z06? Just the normal C5 stuff?

Here's an example. The paint is fading on this particular one, hence the price I guess. I'd be using it for a track rat, so I'm not sure I'd care.

Cheapy Zee-Oh-Secks

Look out for all the machinery that cost ten times as much that you are easily passing at your next track day.

What the hell is that from?

A used Z06 is about the biggest value weapon available.

ATTENTION: Dear GRM Staff. Please do not write an article about how to buy high mileage Z06s. We like them cheap. Don't let it be known and screw this up for us.

I would just add a vinyl top and some chrome trim.

Schrödinger's Flight Service wrote: What the hell is that from?

Jump on it. You'll kick yourself if you don't. And we'll all call you names for not doing it!

I decided not to buy that Boxster and to keep the Viggen, and I have the 911 for track work, so I'm looking for a non-Z06, removable-roof, 6-speed C5. I'm seeing nice sport coupes (that's the regular, removable roof body style, yeah?) for about that money. This seems like a steal of a deal!

Kicking myself a little, now that the C5 Z06 has gotten so cheap. Used to be nothing could touch a turbo miata for the money...now a Z06 is cheaper, twice the HP, and more reliable

Some C5s tended to have axle seal leaks. I think they can all have it but it's worse for the earlier cars. Same with control arm bushings. You can also have torque tube bearings and failed crank pulleys. Column locks are a known trouble area but can be defeated. They are pretty robust overall.

One oddball thing for '01 Z06 is the PCV. At sustained high RPMs all the oil can get pumped to the top of the engine and then find the intake, leading to a huge plume of oil smoke. You shut the car off right away and panic because there is no oil on the dipstick. Let it sit, the oil drains down and the car cranks back up fine. The MAF and air intake need to be cleaned but the car isn't hurt. When the Z06 first came out, we saw a couple of cars do this on the autocross course when drivers stayed in first the entire time. A PCV update took care of the problem.

I was talking to the local used vette dealer about this very topic. He specializes in low mileage cars, but his opinion was that the high mileage cars were a great value. He suggested the usual fluid changes and driving it as often as possible. I'm hoping to get into one soon myself.

You need to lookout for other people trying to get it before you.

Although that is a 2001, doesn't have 405hp, not as desirable.

I've been watching the C5 Z06 "market" for a while now knowing what a bang for buck value they are. I was beginning to think I saw the market for them bottom out last summer and start to edge upward from that point. The number of under $15k examples seemed to have dwindled to nothing as of the last time I looked several months ago.

Of course, I'm one guy checking a couple resources and thinking quasi-locally. Maybe a fly and drive for the best example at the lowest price is the better way to go. I'll have to renew my efforts nationally and see what's I can find.

Look out for the Spanish Inquisition. No one expects them.

In reply to sirrichardpumpaloaf:

2nd ad on ATL craigslist - https://atlanta.craigslist.org/sat/cto/6045713469.html 2001, 102k miles, $12,500

I bought my 04 Z06 Commemorative in June 2014 with 42k.

Just rolled 80k this morning. It's a warm weather DD in that as long as salt isn't down, I'm probably driving it. For 2014 and 2015, I parked it right around NYE. This year, I moved to northern MI and parked it in late October.

Repair bills have been next to nothing. ~$800 for RE760s in fall 2014. ~$100 for 2x M1 0W-40 oil changes per year with an M1 or similar filter. I did new fluid (M1) in trans/rear end when I purchased it and had a coolant flush.

Issues with mine are as follows (major to minor):

• Rear differential seal leak - Mechanic noticed the o-ring on the driver's side cover is starting to weep. Never left a spot, only a small accumulation of dirt on the area. Taking a "wait and see" approach.

• Clutch master cylinder - Known/common issue. Clutch pedal sticks occasionally during high-rpm shifts. I use a turkey baster to "flush" the MC every year and replace with fresh ATE Typ 200 until fluid comes out clear. Also do the brakes the same way. When I do the clutch, replacing with the Tick/Tilton master cylinder.

• Brakes - New brakes on all 4 corners (Wagner Pads/Rotors) in 2015. Replacing this summer only because the rotors are uncoated and beginning to rust. Replacing with Hawk HPS and Centrics.

• Sway bar endlinks - One started to loosen up. I should probably replace that this spring. Probably going with sphericals from LG motorsports.

• HVAC display dead - $50 fix, need to send that off this spring. Also doing a MGW shifter "while I'm in there" and replacing the broken key bezel ($20 part). Blend door actuator may be going out, fairly inexpensive/simple repair while I have the display sent off.

• Wiper motor - Intermittent setting works only occasionally. There's a rubber "udder" underneath the cowl panel that can clog with leaves and such, causing water to enter the motor. Mine is parked almost exclusively outside, so I was sort of expecting it.

• Serpentine belt + tensioner + $50 in parts and maybe 30 minutes of work.

• Front turn signal socket - Melted in the midst of a 18-hour road trip from Charleston back to Detroit. $15 socket and some soldering made things good as new.

• Column lock bypass - Installed a LCM5 (I recommend this above all else). 04s are finicky and require an optional wire to be installed. Haven't felt flexible enough as of late but this is a simple fix.

• Skip shift eliminator - $20 for a SLP unit from Amazon, installed with trans fluid change.

• Harmonic balancer - Outer ring can separate from inner elastomer. Hasn't been an issue for me personally, but it does happen. IIRC, steering rack has to be moved out of the way. Not much more work to throw a cam, blueprinted oil pump, and C5R timing chain at the same time.

Look through my post history, I did a Blackstone analysis last spring and everything came out fine. I'll end up doing clutch in a year or two just for the sake of preventative maintenance. Figured I would end up having the differential rebuilt/strengthened and headers installed in a great example of scope creep. Parts are relatively inexpensive, and the aftermarket is massive. The whole "Corvette tax," for the most part, is a myth.

Dynamically, it's a great car. Yes, the interior isn't the greatest, but it doesn't bother me personally. My only real complaints are shifter/seats. Otherwise, it is no better/worse than anything of the era. Remember, they started working on the C5 in the late 80s. At this price, you're paying for one hell of an engine more so than anything else.

Can answer any specifics if you've got them! The only thing I have yet to do is attend a track day, but it's been through just about everything else.

Well, unfortunately I'm not in a position to buy right now, that'll be in 9-12 months. I'm in research mode, so it's open season on those examples for anyone here who's tempted. Thanks for the enabling though.

Drunkonunleaded - great ownership synopsis. That kind of info helps a lot.

Good to read all of this. I'm determined to buy an official "mid life crisis car" when I turn 40 in 3.5 years and it's starting to look like anything air cooled Porsche is going to be unreasonable. Nothing screams "Mid Life Crisis" better then a corvette! LOL I've also only owned one RWD V8 to this point in my life (92 Crown Vic Beater) and nothing over 225 HP (mostly imports) so I feel like I need to give one a shot.

Drunkonunleaded's list is pretty solid. I'll add a few observations as someone who has been monitoring C5Z prices closely as of late:

1) '01s are considerable cheaper than similar condition 02-04s.

2) Mechanically, the cars tend to be solid regardless of mileage, with the exceptions listed before. I'll also add suspension bushings to the list. They're practically a wear item—especially on an autocross of track car. Luckily they're cheap and relatively easy to replace (well-being, tricky to replace the bushings, but super easy to just replace the whole control arm).

3) Valve springs should be considered for replacement, but are also cheap and easy.

4) Cheap Z06s will be high-mileage rats. They'll still be fast as hell, but the pain will be faded and there's about a 99% chance that the interior will need serious TLC. If you're building a track rat, this might be a nice place to start. If you want a street car, the right price for an 02-04 is probably still $20k+, but not + much. Values seem to be pretty linear (i.e. a $19,000 car + $3000 of refurb = a $22,000 car.) So you can kind of buy at the level you want to play at and not fear diminishing returns too much.

5) That said, mileage and condition are pretty big in the Corvette community. Once the cars drop below about 40,000 miles, the prices start to creep up dramatically—especially among dealers.

6) '04 carbon hood Z16s command a slight premium, but not as much as you'd think. If you want the "ultimate" Z06, that's obviously the one. Prices tend to run a little more then other '04s of similar mileage, but that almost tends to be more because they tend to be well-cared for examples, being "commemorative editions" and such.

PS: You didn't hear this here, but I know a certain magazine gearing up for a C5Z project when a certain Mustang project has completed its cycle.

(EDIT: And, yes, everyone definitely needs to STFU about how these cars are "hot" and everyone should "buy now because prices will skyrocket!" Keep that E36 M3 to yourself until about October. Thanks.)

You should look out for the Bob Costas voice in your head telling you not to buy. That guy needs to STFU and grab you a beer.

Mine will kill a battery if not run for 2 or 3 weeks. Someone else mentioned the valve spring issues especially on 2002-2003 cars. Other than tires, brakes, and batteries mine hasn't cost anything in maintenance but the mileage is only at 34K now.

Police. You need to look out for Police.

That's a GREAT Deal on a Z06 FRC. The paint looks like an easy fix if you know someone in the body/paint world. Otherwise, someone can charge you a grand or so. I'd just compound it and get it wrapped in vinyl.

ultraclyde wrote: In reply to sirrichardpumpaloaf: 2nd ad on ATL craigslist - https://atlanta.craigslist.org/sat/cto/6045713469.html 2001, 102k miles, $12,500

What the berkeley are those 4 things on the trunk lid? I see the corvette symbol in the middle.

It look like it was de-riced. But, they're nowhere near that cheap here. Maybe with a salvage title. Hell, regular FRC's are like 15k here.

That's what I was thinking as well. Those look like mounts for some most-likely-terrible wing.

yupididit wrote: It look like it was de-riced. But, they're nowhere near that cheap here. Maybe with a salvage title. Hell, regular FRC's are like 15k here.

That's what I find as well. Salvage title cars are all over and asking prices for those still seem pretty strong. But still I'm watching and waiting.

Wow didn't realize they were that cheap. C6s still quite a bit more but pretty different cars. I'd do C6 for street car, C5Z for track rat.

Is the C5 the last car that was sold with popups?