Why Is It a Great Time to Buy a C5 Corvette?

Why Is It a Great Time to Buy a C5 Corvette?

It may not feel like it, but the C5 Corvette is officially over 20 years old. Take an in-depth look at why right now is the perfect time to buy this classic.

Keyword(s): c5 corvette

The Corvette isn't just the quintessential American car. It may very well be the most perfect sports car ever! Even though Corvette might not boast German sophistication or Italian style, what it lacks in frills it makes up for in performance. 

Seven generations in, there's a version for any taste. Yet, it's the fifth-generation, known as the C5 Corvette, that's the hot car among Corvette fans. See why now is a great time to buy a C5 Corvette.

How We Got Here

C1 Corvette (1953-1962)

Introduced in 1953, the Corvette had an immediate impact. It was introduced at the New York Auto Show and inspired new car buyers with its styling. With looks that could rival anything Europe could produce, it became an immediate hit.

Unfortunately, lackluster performance led to slow sales. All show and no go, buyers gravitated toward more drivable alternatives. Still, these cars have a high value on the collectors market. Expect to see them in the showroom or on quiet Sunday drives. Don't expect to see them being enjoyed as much as admired.

C2 Corvette (1963-1967)

The C2 was a step toward correcting the faults of the first-gen Corvette. The first model introduced was the stunning 1963 Sting Ray, restyled based on Bill Mitchell’s race car. It initially featured a split rear-windshield, which only lasted one year, while following years maintained the same distinctive styling with a more practical, full rear-windshield.

The 'Vette's signature pop-up headlights debuted with the C2, and an independent rear suspension was also new (which improved handling). Needless to say, the Sting Ray was much better received than its predecessor.

The ’63 models hold two of the 10 spots for most valuable Corvettes on the market today, so finding a good condition model from this generation isn't cheap. (Consequently, C2’s are more of a showpiece than vehicle at this point.)

C3 Corvette (1968-1982)

More evolutionary than revolutionary, the C3 upgraded the interior while maintaining the same engine and chassis as the C2. One major development, though, was the introduction of the first “T-top” removable roof panels.

The C3 has a small-block V8, handles well and has the ability to be a unique resto-mod (with the potential for high desirability and resale value).

C4 Corvette (1984-1996)

Corvette missed a production year (1983) due to quality issues and parts delays, but when Chevy finally introduced the fourth-gen 'Vette, it was a top-to-bottom redesign. An all-aluminum suspension was developed for greater rigidity and lower weight, and a manual transmission, last used in 1981, was reintroduced.

However, the C4 can be bought for less than a C5 for a reason — it’s less enjoyable to drive, less fuel-efficient and not as powerful. It can still be a fun drive, but it's much more of a compromise.

C5 Corvette (1997-2007)

Another redesign, the C5 revolutionized the automotive world. It hit near 50/50 weight distribution (thanks to a new powertrain layout), was four-times more rigid than the C4, had 1000 fewer parts, and actually featured usable trunk space.

Like the leap to the C2 from the C1, the C5 betters it's predecessor in every metric. It also introduced the aluminum LS1 engine. This was an engineering marvel, and it remains the foundation for the current Corvette engine.

C6 Corvette (2007-2013)

Billed as being “all-new,” the C6 was actually just an update on the C5 (with an emphasis on a more upscale interior). It made incremental improvements on the C5 but never managed to be groundbreaking.

Due to it's younger age these models are priced higher than the previous generation. But other than age, they don't offer much more bang for your buck.

C7 Corvette (2014 to Present)

The C7 generation was yet another redesign, and the reintroduced Stingray (note the spelling difference) is an automotive wonder. It can go head-to-head with any of its hyper-car competitors and has been priced accordingly. Whether it maintains that value long-term or not remains to be seen.

Why the C5?

With all these choices, it may seem that each generation provides its own argument for why it may be better than the others: the originality of the C1, the uniqueness of the C2, the cutting edge tech of the C7 or even the simplicity of the C4.

However, there's only one choice if you want the best value. 

The C5 is the perfect blend of modern-day performance with classic design, and best of all, it's more affordable than ever before.

Don't let that (decreased value) worry you. Hagerty notes that depreciation is actually slowing down (which hints that prices are near their lowest point). It's at this point that they'll reach classic status and soon, the best of the best will start increasing in value.

In fact, the high-performance Z06 has already seen an increase in its worth. The rest of the lineup is sure to follow.

Performance

Value isn't the only reason to buy a Corvette. These cars are meant to be driven. That's another area the C5 distinguishes itself.

The standard coupe with a manual transmission comes with the LS1. This is as reliable an engine as you could hope for. It will also let you hit 176mph and the 350bhp engine was a powerhouse for its time. That number may not seem outrageous these days, but remember that the Corvette is also a very light car.

It's also good for a sub-five second 0-60mph time while managing the quarter-mile in a hair over 13 seconds. Your contemporary sedan isn't doing that. If that's not quick enough, the Z06, with the LS6 small-block bumps up power to 385hp. (This reaches 405hp if you opt for a 2002 or later model.)

Thanks to its balanced layout, it doesn't just go fast in a straight line. The hydroformed rails keep the body tight, preventing any flex in the chassis.

Despite being a legendary racer, the C5 can also double as a daily vehicle. An automatic transmission may be a better option for those dealing with a commute, and the suspension helps smooth out rough roads in a way that is unusual for a sports car (regardless of transmission).

Reliability

At the time of production, Chevrolet was criticized for going cheap on parts. The C5’s simplicity was scoffed at for being unsophisticated. However, this has ended up being a boon to the C5's reliability.

Known for its dependability, almost any work that may be needed could be done by the owner in their driveway. Of course, this depends on the proficiency of the owner, but it speaks to how straight-forward the car is.

This isn't to say that it's barebones. It's actually one of the first cars to feature a head's up display that projects data onto the windshield. This makes it easier for the driver to keep their eyes on the road while monitoring essential information.

It does mean that the car is generally free from the problems that certain over-engineered cars face. There's little that can't be repaired in an average-stocked garage.

Styling

The C5 is an unapologetically 90's car. Whether you consider that to be a negative or not is up to you. While some may find it hasn't aged well, it is immediately recognizable as a Corvette. It has the long hood, compact cabin and a wide backend with signature tail lights.

Most important is that it isn't subtle. You drive a Corvette for the thrill. From the acceleration to the engine roar to the distinct body lines, this is American muscle personified.

Value

Since prices have been decreasing, it's now possible to find a low-mileage model for a very reasonable price. Of course, the different variants have different price points — you can expect to pay more for a Z06 than a base model.

That being said, it's not difficult to find one in the $10,000 range. Some of these may have a number of miles, but thanks to their build quality, they can be just as reliable as higher-priced counterparts.

There are also low-mile examples that come in under $20,000. It's just a matter of keeping your eye on the market.

Love the C5 Corvette?

Owning a world-class sports car has never been more affordable. The C5 offers you exotic performance with American styling at a comparably low price.

With depreciation slowing, it's only a matter of time until the real value of these cars are recognized and prices start to climb. Don't wait too long or you may miss out on a real opportunity.

These cars are sure to become recognized classics... They also remain exciting, highly-drivable vehicles. The primal joy of stomping the accelerator and peeling away is alive and well with a C5 Corvette.

For more information, visit the C5 parts page of our site. We have what you need to keep your Corvette running like it's brand new, no matter how long you’ve owned it!