Cheap 1978 Chevrolet Corvette Pace Car

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From a distance, this 1978 Chevrolet Corvette Pace Car looks pretty striking but when you get up close, it is doubtful that it can be saved. The Corvette is located in Argyle, Texas which is a small town near the Dallas Fort Worth Metroplex. There is not a whole lot written in the description about why the car is in the poor state of condition that it is in but when you see rust on the automatic transmission shifter handle, you might immediately think the car was left outside with the T-tops off or in a very humid location. Chevrolet built 6,502 Corvette Pace Cars to commemorate the 1978 Indianapolis 500 picking the Corvette to be the pace car for the annual Indianapolis 500 race.

If you ordered this car new, the buyer had two engine options in 1978. The base engine was the L-48 350 cubic inch V8 engine rated at 185 horsepower in 1978. The optional engine was an L-82 350 cubic inch V8 engine rated at 220 horsepower and around 280 lb ft of torque. Besides the bump in power, the L-82 350 cubic inch V8 engine came with an improved air induction system, black valve covers, a high lift cam and aluminum intake manifold. Also, the L-82 350 cubic inch V8 engine option also came with a special tachometer designating the L-82 engine. Neither engine were bad for the day but neither was that powerful. This one has headers and aftermarket heads and intake manifold. The engine is not running and needs a radiator among other needs.

The interior is in poor condition. The seller states that this car is one of 799 Pace Cars that were built with a combination cloth and leather interior. I have never seen that in a Pace Car before. I owned one in the late 1990’s and found it to be a joy to drive. The seller has a bonded title in his or her name. The odometer shows approximately 78,000 miles. Some of the carpet on the door panels is yellowed and the rest of the interior is dirty and damaged. The console sports an aftermarket Sony cassette deck.

This car is listed here on eBay with just one day left in the auction. It has been bid to $2,000 with no reserve. When these cars were introduced, many enthusiasts expected them to be instant classics so purchased and stored them only to find that so many were built that they were not all that rare. I have always liked the black and silver paint as well as the front and rear spoilers introduced on the Pace Car. However, this car is missing the front spoiler. Not sure what you would do with this car because the restoration would seem to cost many times the value of the car.

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Comments

  1. Jeff

    Drove hard and put away dusty then left out on the farm..

    I hope someone puts this back together to give it a good home and driven again.

    If the price is right then likely 4000-6000 dollars in just missing items and getting the engine running again would be okay. The paint can come last…. or if original left alone for a lil while…

    I am both a Mustang and Corvette guy. 1968 Mustang Cali Special and a 63 SW.

    Good luck with sale and hopefully another Corvette anniversary can happen with the car restoration.

    Like 6
  2. Les Buchmann

    I would purchase a 604 crate engine, install some nice high quality seat covers and drive it. Since it’s doubtful that the car is numbers matching, having camel hump heads. It at least could use a power plant worthy of pulling itself out of it’s own way…..

    Like 7
  3. TCOPPS TCOPPSMember

    Following to see what it ends up going for.

    Like 5
    • Steve R

      Sold for a high bid of $2,000.

      Steve R

      Like 1
  4. RetroMojo

    I have one of those as well. The previous owner had a lithium battery blow up on his garage and the front end took a little scorching…looks like it re-entered the atmosphere from space (Heavy Metal anyone?)
    I removed the burnt urethane (thus shortening the nose back to proper 1968-72 C3 nose length)
    It’s a fun driver, but I’m also thinking of selling and want to see what this one brings.

    Like 6
  5. Pnuts

    Wonder if anyone has kept records on how many vehicles have been painted that paint scheme since 78? I had a 96 Impala SS for nearly 20 yrs, just sold about a yr ago, and the whole time I toyed with the idea of having it painted that color. Already had the black of course.

    Like 0
  6. Ron

    Sold for $2,809…

    Like 1
  7. Charles Jenkins

    Well, it is definitely a “burnin’ hunk of steamin’ junk” (as they say in the south) and being a C-4 makes it the most undesirable Corvette on the planet, what it reportably sold for isn’t all that bad. Personally, I would never own a C-4, but I will admit that whoever bought this did alright. (after all, C-4 or not, it is still a Corvette)

    Like 0
  8. Charles Jenkins

    Before absolutely every Corvette fan that reads Barn Finds points out that I apparently don’t know the difference between a C-4 Corvette and a C-3, I will certainly acknowledge that my comments were somewhere between stupid and really stupid. I’m afraid that I let my disdain for mid-seventies Corvette performance override my ability to differentiate between models. For that, please accept my most humble apologies.

    Like 4
  9. Bryan

    If you got this car for free and did all the work yourself, you would still be upside down. IMHO it is a flood car and even if the frame and bird cage are good (doubtful) it will need engine work, trans work, rear end work complete wiring, all gauges replaced, hoses, interior, paint and body work. Best bet for this ol girl is to make a race car out of her.

    Like 0
  10. DanMember

    What is with the regular rivets in the VIN tag

    Like 0

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