Buying
Your First
Corvette
More people are buying Corvettes than ever before. Their
reasons for purchasing a Corvette can be:
1. For an Investment (they're not a real investment but better that a New Car)
2. Have a facination with cars and want precision in their ride
3. They have a need to drive a car that has a timelless design
. For some, it's daily transportation.
For others, a Corvette will be a
fixer-upper or perhaps a
restoration project. Those with a healthy
bank account may buy a completely
restored Corvette with plans of showing
it at Bloomington Gold or a major NCRS
National or Regional event.
Whatever the reason, if you're a first-
time buyer (or maybe you've owned one
the past a), it pays to have a
working knowledge of the mechanics of
Corvette buying before you start.
In the past, buying an older Corvette
was considered a investment.
Every model year from 1953 right up to
1982 has some appreciation
potential - (the 1953 to 1967 have more upside). A few years ago, a 435-horse '67 roadsters,
L88s, '57 fuelies and other exotic Cor-
vettes went ballistic and drew speculators
and investors into the hobby. Those
inexperienced in exotic car wheeling
and dealing who jumped in because
they thought these cars were gold-plated
took serious hits, while the speculators
made their money and exited as the
bottom began dropping out. In today's
market, the stakes are high and, for
these exotic Corvettes, so are the prices.
For the privileged, it's just another tax
deduction. But for those of us in the
cheap seats, there are still bargains on
the majority of Corvettes out there.
If you're a first-time Corvette buyer,
decide which car you want. If you've
fallen in love with '67s, learn as much
as you can before going out to find the
right one. Invest in some of the many
books that have been written by Cor-
vette experts. These books illustrate the
differences in the model years (changes
that are quite subtle and can be missed
by the novice), what options were avail-
able, how to locate and decipher the VIN
(Vehicle Identification Number), engine
codes, build dates and other crypted
information. Before you spent big bucks on your
Vette check the Vin Tag and the engine stamp pad the
PROOF IS HERE Not knowing where these
codes are and how to read them could
cost you BIG $$$$ dollars if you buy
the wrong Corvette. When you inspect a
possible purchase, have these reference
books handy and use them like a Bible. The cost of
your research materials is nothing
and will easily be recouped when you sell.
You should go to Corvette shows,
not just for the fun of going, but to build
your knowledge. Go to judged shows or
casual show-and-shine events and take
notes on everything from the options to
the smallest details. Watch the judges
and see how carefully they inspect a
Corvette. Join NCRS and get a "Judging Guide" for the car you want to buy.
Talk to Corvette owners (they
love to talk about their cars). They'll be
more than happy to help you along. Ask
about Corvettes for sale. You may find a
fair deal though your Corvette club.
If you want a correct "Real car I cannot over emphasise
JOIN THE NCRS AND GET INVOLVED.
If you enter the Corvette hobby
with the idea you can leverage your way
to an L88, guess again. While some of
us are born to deal and "flip cars", you're not the only
one in the hobby motivated by greed.
Remember there are always bigger fish
in the sea — and they have much sharp-
er teeth.
Let's go back to that '67. As you narrow down
on your search, you'll find there's a vast
array of cars to chose from, and all cars
are not equal. Just because it's advertised
as a body-off restoration does not mean
it's a great job. All so-called professional
restorers are not, so be careful in your
selection - ask Corvette owners who is good.
Bear in mind these 30 year old Corvettes,
even with all those new parts and new paint will need
work --- those cars back then enen required TLC.
Another Tip: Don't buy paint. A
common mistake of many Corvette buy-
ers is to buy a shiny paint job. First
impressions may be very deceiving. You must
carefully inspect any Corvette for any
structural weaknesses and evidence of
accidents - take a NCRS Master Judge. Beware of rusty frames, poor
fitting or out-of-line panels. There's a
reason for these problems. Remember
that beauty is only skin deep but ugly
can go clear to the frame.
Some of the n older Corvette dealers
are honest, but the emotional forces of a
possible Corvette purchase can make a
potential buyer vulnerable. Dealers are
aware of this, and they tend to press until
they get that sale. You won't think on
whether you made the right decision as
you're driving your Corvette home. The
doubts will creep in just about
the time the payment book arrives in the
mail.
It can cost just about as much to
restore an exotic Corvette as it can a
Muscle car. If you are restoring a Corvette
and trouble rears its ugly head, can you
grin and bear it, or would you have to
sell? If forced to sell, could you recoup
your investment or make a profit?
Gaining a solid knowledge of the
"Correct Buying Procedure" ---
of purchasing a Corvette will
make you a smarter Corvette buyer. You
want this to be a fun as well as profitable
move; it will be -- if you are sure of your
ground. Corvettes are fun toys as well as
good investments. Be extremely careful-
Join the NCRS especially if you are buying a Big Bucks - "Correct Corvette"
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