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From: oaddab@stdvax (DIRK BROER)
Subject: Re: Old Corvettes / Low insurance? AND corvette prices
Message-ID: <21APR199315170832@stdvax>
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References: <1993Apr15.011805.28485@ns1.cc.lehigh.edu> <rjnC5sxMG.JqH@netcom.com>
Date: Wed, 21 Apr 1993 20:17:00 GMT
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In article <rjnC5sxMG.JqH@netcom.com>, rjn@netcom.com (Richard Newton II) writes...
>In article <1993Apr15.011805.28485@ns1.cc.lehigh.edu> swr2@ns1.cc.lehigh.edu (SCOTT WARREN ROSANDER) writes:
>>In article <C5Csux.Fn1@news.cso.uiuc.edu>, gdhg8823@uxa.cso.uiuc.edu (George Hei
>>nz) writes:
>>>After too many years of school I'm finally graduating and getting a real
>>>job.  Of course I am trying to make plans of how to spend all this extra
>>>money.  Right now I have an 89 accord, a good car, but not real sporty &
>>>I was thinking of selling it in about two years and dropping around
>>>$20k on a sports car of some kind.  After thinking about it, I may have a
>>>better idea -- I'll keep the Accord until it drops and buy the car I've
>>>always wanted -- a Corvette Stingray. My reasoning is that $8000 (accord)+
>>>$8000 (corvette) =$16000 is less than what I would spend anyway.
>>>
>>>Basically, I'm thinking of a late 70's, early 80's for around $7-$10k.
>>>My question is, what are good years to consider (for reliability, looks,
>>>horsepower -- in that order, believe it or not, horsepower is not a main
>>>concern, if I want to go fast, I get on my motorcycle) and what are
>>>good prices?
>>>
'63 to '82 vettes had the same basic chassis. 1980 add aluminum (weaker) 
rear 'axle' housing.  All these years used same brakes, similar springs etc
  Late 70's was a bad year for GM reliability.  Catastrophic converter was 
added in 1975.

Cheapest corvette '78 to '79 low end about 4k tops out about $12k except 
for those morooons that think there '78 indy / 25th aniversity vette is 
special.  These guys have been known to ask 25K.  I don't think they get it
.

Best buy: convertables 69 - 74.  I got my 69 for 5K - needs body work but 
I'm willing.  

Parts for all are readily avail at swap meets and mail order etc.

V-8 reliability / looks / independant suspension / 4 wheel disk and all 
under 10K.  And they thought a miata was a good deal.

>>>Also, what would insurance look like?  I'm male, single, 23 (I might
>>>wait until I'm 25 to get the car = lower insurance). Would the fact that
>>>I mainly drive the other car lower it?  Is there some type of "classic
>>>car" or "rarely driven" insurance class for driving it under 10k miles
>>>per year?
>>>
>>    My dad has a 66 vette and its on what you say 'classic insurance'.
>>    Basically what that means is that it has restricted amount of driving
>>    time, which basically means it cant be used as an every day car and would
>>    probably suit your needs for limited mileage.

My origional inquires to my insurance agent: I can drive my '69 convertable 
for 3000 miles or less per year, I must keep it in a locked garage and it 
will cost me 2% of the stated value per year (does this sound right?).

> 
>I've also been looking at vettes recently, and found a '67 convertible
>that I like at a dealer. I currently own an '88 Ford Escort GT, which
>is insured through State Farm. I called em up, and asked about the rates:
> 
>If I sell the escort, the vette insurance is $401.16 per 6 months.
> 
>If I keep the escort, the vette insurance is $308.82 per 6 months. The
>escort's insurance goes down by 10%, to approx $320 per 6 months.
> 
>I'm 28, male, and have a "good driver" discount. Another variable would
>be where you live. Best bet is to just call up some insurance brokers,
>and get a quote.
> 
>State Farm says they base the price on the "fair market value" of the car,
>which is determined by an outside apprasier. They look in the newspaper,
>and call up dealers to find out what the going rate is, and adjust it for
>the condition of the car.
> 
>To get the values above, they went on the selling price of the car. The
>dealer's asking price is $21,900; I need to do research to find out if
>this is reasonable. In any case, I told State Farm the value was $20k.

Get an appraiser to look at the car. He will check serial numbers and look 
for origional equipe.  Depending on what mods have been done the car could 
be worth only 10K.  Problems like wrong engine / trans.  Wrong paint type (
vetts used lacquer)  An modification would reduce tthe value.  But your 
looking for a car to drive right?

This sounds like a ball park price for a small-block (327 cu in.) / manual 
/ no air car.  A 427 would put it closer to $30K.

Get it appraised!!!  For insurance purposes also.
