We all consider ourselves car experts to some extent, whether about the best performing muscle car or the best handling import. But one segment I attempt to be an expert in is that of vehicles that are seemingly destined to be a collectible in the not too distant future, and that are absolute bargains relative to their future values – and the C5 Corvette Z06 is such a vehicle. This Z06 listed here on eBay is in excellent condition with a reasonable asking price of $32,000.
There’s also the option to submit a best offer. The seller lists the Z06 as having 15,300 miles, which I can’t believe is accurate. If it did indeed have time-warp mileage, the asking price would undoubtedly be higher. Still, whatever its actual mileage, the Corvette appears to be in like-new condition with no obvious cosmetic faults to report. The C5 was such a pretty design for a brutish muscle car and it still looks good today.
When the C5 redesign hit, it took the automotive enthusiast space by storm, just like every big Corvette transformation seems to. The C5 set the stage for how the Corvette would appear for the next decade and beyond, as even with future refreshes, the C5 was still visible in later eras like the C6. The interior of this example is slightly garish with its bright two-tone, but it still presents like that of a much newer car.
Performance-wise, it is very hard to top a C5 Z06 for bang-for-the-buck in the horsepower and speed categories. When you consider that the Z06 is akin to an AMG model from Mercedes-Benz or an SVT product from Ford, the significance of such a car being available reliably for $30,000 or less begins to sink in. This is likely one of the better examples out there for $32,000 or best offer, so you know a slightly rougher driver-quality car can be has for safely in the low 20s. Is the Z06 one of the last remaining affordable enthusiast cars out there?
2001, being the first year for the C5 Z06, makes it a bit of a red-headed stepchild. The LS6 was plagued with oil consumption problems in 2001 (perhaps this motor has been re-ringed). The 2002 Z06 also gained HP and torque.
That said, this one appears to be a beautiful car with (need to authenticate) low mileage. I agree this car will appreciate in value but, at $32k, it will take awhile to see any gain. Just me but I think $28 is a more reasonable price.
I owned a 2001 Z-06 and drove it 175,000 miles. No problems with oil use or anything else other than a new clutch. Sold it and wish I had it back.
We own a 2003 Z06 we bought new, special order. It listed for a little over $52K. The dealer knocked $4,000 off the list price. I think the one listed is in the ball park, depending on condition. Z06 Corvettes are one of the few C5’s that are holding their vale well. It’s a lot of car for the money. We have 30,000 plus miles on ours and have no desire to sell it. We have had zero problems with it and I do all of the maintenance myself. Is it noisier that a standard C5? Yes,, a little. A lot of the road noise can be eliminated by replacing the Michelin tires with Continental Extreme Grip tires. We also have a 2008 Z06 and have installed Continentals on it, too. Much better handling and a much better ride. They are also less expensive than the Michelins.
I think $28,000 is still high
Carfax shows 7 owners but no mileage discrepancies show up. Carfax says retail value 26,410 for what it’s worth.
7 owners+ Z06 + 15,300 miles + $32,000 = Wait for the next one. Those factors just do not add up.
Just letting you know, my son bought a 2001 six speed looks brand new, can’t even find a wear spot or a chip in the paint, 62,000 miles for $18,000. just saying.
It’s easy to find decent C5s. By the time they were released, most buyers were older, more seasoned, babied them, and always had good storage for them.
There were a set of brothers that lived across the street from my parents and next door to each other. Both owned C5s and would only take them out on sunny days and even then, only a handful of times each year. They were both well off, so they probably sold or traded them for next to nothing when they got tired of them.
@Mark and PRA4SNW- I get it. 7 owners is my major warning sign. My point was there are other Z06’s for the same or less money.
Mark- Is the car you refer to a Z06?
I totally agree with you, Frank.
The word collectable and Corvette just don’t work. And yeah vetts are cheap. I got lots of very nice ones for dirt cheap. How many pop up just on here every day
F.Y.I.>> The mileage could be correct……..My 2000 C5 coupe (all options)….has about 650 original miles…and has been in climate-controlled storage virtually since new. No dealer visits or warranty claims. Still has all original fluids and filters intact. Even smells new. Would it be classed as a “garage find”? Should I sell it as that, or get it running? Have all factory documentation, track sheets etc. My wife and I were allowed to help with it’s build during our private VIP escorted tours at the Bowling Green plant. Only drove it for a bit until a teenager ran a stop sign and nearly killed us while we were going to town in our Volvo S70 T5. Car saved us but years of surgeries so C5 was stored. Thanks.
Hello Jon:
Thanks for your message and sorry for the late reply. My C5 has all options, both roofs etc, I have all factory tracking build sheets and I believe the factory wrapping as well. car has been in secure climate control since new. I don’t know what it would be worth but I also have the original window sticker. Thanks ….Larry
I also believe this to be a collectible car. In fact, I just bought an 02 for that reason. My budget only allowed for a base model and not a ZO6 so I’m hoping to go along for the ride on some of that appreciation. It seems most people are asking for 8-10K more for a Z than the base model which makes the base C5 one heckuva a buy. I just did a test drive on the twin of this car yesterday but it had 108K miles – asking price is $21,900 which I thought was reasonable considering the car was spotless other than needing tires. I predict these will do what the 4th gen TransAm’s have done over the last two years and double in price over the next couple of years.
I took a drive in a buddy’s C5 automatic once and thought it was too much like driving any Chevy. I was coming from a C3 manual that had a stiff clutch pedal and smelled like exhaust fumes when you were done driving it, so that was part of the reason.
I am warming up to them and as mentioned, are a great performance bargain. I’m sure a manual 6 speed example would change my mind about them pretty quickly.
We drove a new convertible C5 and thought the same thing so we passed. Then the Z06 came out and it was like a real corvette so I bought a new 01 then traded for a new 03 since it had more HP and the excellent HUD. Still have the 03 Z.
PS: the 01 Z used a quart of oil every 1200 miles, the 03 Z none in 6000.
Steve, how does the Z06 drive on rutted pavement? Do you feel like your fillings will be knocked loose?
Do they have a magnetic ride control option?
The 2001 models had known oil consumption issues and GM was very good about repairs even beyond warranty time. It typically involved reringing. I also believe it affected only the early builds. The Z06 is almost a different car than the base, but the base is so smooth it’s deceiving how fast it is. I have an 02 base C5. and it’s an amazing car.I don’t miss smelling like gas but l do miss the rumbling and jostling sometimes. It’s easier to carry on a conversation while cruising now though.
They ride better than C4’s and do decent on rutted roads. They do transmit more noise due to less sound insulation which most guys add a bit more to the back section of the car. No mag ride was available. 01’s had stiffer rear shocks and I changed mine for the revalved 02 models which was popular at the time.
As long as we are on this topic, the real find among these cars, in my opinion, just might be the option code 1YY37 hardtops produced in 1999 and 2000. A little over 6,000 were built and they came with the 345hp LS1, 6-speed only and the Z-51 suspension. JL4 Active handling was optional. The hardtop was bolted and bonded to the body making the FRC stiffer than the convertible (Duh) and targa top versions. The icing on the Corvette cake was the available Nassau Blue paint. I will regret posting this because now I have to find mine before y’all do.
Frank, IIRC wasn’t the original idea behind this model that they wanted to offer an affordable performance-oriented model?
You betcha! the fixed-roof coupe was supposed to come with cloth seats, manual locks, smaller wheels and tires. GM got the hint with strong C5 sales and never put that idea into action. the 1999 and 2000 FRCs became the platform for the 2001 ZedOhSix which came to party like it was 1999!
Yeah, I must say…$32k is no deal. For under $30k, you can buy a C6 Gran Sport, a much more refined car, with the LS3…with 50 more hp. Not to mention, much more beautiful.
And fot another $10K, you can buy a C6 Z06 with 505 h.p. and a dry sump oil system. It all depends on what you want to spend. The C5 series is second only in fewer years than the C2 series, and we all have seen their prices soar in the last few years.
I bought one just like this,April ‘06,14286 miles,has 49k on it now,build date 12 of 2000,zero oil consumption problems,replaced an A/C compressor some years back due to seal leak.Sent the ABS unit to ABS fixers a couple years ago,ABS and Traction control lights stayed lit due to solder joint separation, a common problem.That cost 150.00 plus shipping. Otherwise,no problems and the thing blasts off like it’s tail is on fire.Hagerty sent me a letter recently advising me to insure it for 36 k replacement value,of course they have a vested interest in that.I do believe that the value of C5 ZO6s will only go up and mine ain’t going anywhere.