How Much Does a C5 Corvette Cost in 2023?
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The fifth-generation Chevrolet Corvette, or C5 Corvette, ran for eight model years between the C4 and C6 models. With the latest model at 20 years old, the pop-up headlight-toting C5 is making its way toward classic status. So, how much is a C5 or C5 Z06 in 2023? More importantly, is a used model like a 2000 Chevrolet Corvette worth it over two decades later?
What year are C5 Corvettes?
The fifth-generation Chevrolet Corvette ran from 1997 to 2004 when the sixth-generation model replaced it. It was available in several configurations, but the most popular variations are the base model and the corner-carving Z06.
The base model was available as a soft-top convertible, a fixed-roof iteration, and a hardtop coupe. Still, instead of the traditional hardtop coupe formula, the C5 packed a single-section removable roof panel, a faithful compromise between full-fledged rag top and rigid hardtop. However, the range-topping Z06 traded the removable roof for a fixed roof to capitalize on rigidity.
How much is a C5 Corvette worth today?
| Model | Average value |
|---|---|
| C5 Base | $26,491 |
| C5 Z06 | $30,151 |
However, prices vary based on location, mileage, condition, and title status. For instance, a 2000 Chevrolet Corvette base-model coupe has a fair value of around $14,865, per Kelley Blue Book (KBB). On the other hand, a 405-horsepower 2003 Chevrolet Corvette Z06 is worth closer to $22,000 with average mileage. That said, if you find a solid Z06 at that price point, you might as well use your leftover luck to play the lottery.
Of course, fans are willing to spend a bit more for the Z06; it’s a comprehensive improvement on the base model when it comes to track credentials. The later-model Z06 packed a naturally aspirated 5.7L LS6, which outmuscles the base LS1’s 350 horsepower by a staggering 55 ponies. Pair that with the Z06’s Z51 suspension and compliant six-speed manual, and the Z06 is good for a four-second sprint to 60 mph.
How many C5 Corvettes were made?
Chevrolet produced nearly a quarter of a million C5 Corvettes during the sports car’s eight-model year tenure:
| Year | Units |
|---|---|
| 1997 | 9,752 |
| 1998 | 31,084 |
| 1999 | 33,270 |
| 2000 | 33,682 |
| 2001 | 35,767 |
| 2002 | 35,627 |
| 2003 | 35,469 |
| 2004 | 34,064 |
According to XtremeCFM, GM made 249,715 ‘Vettes from 1997 to 2004. Further, the most voluminous production year for the C5 was 2001, wherein 35,767 Corvettes found new homes. As a result, there is no shortage of C5 Corvettes for collectors and enthusiasts to peruse.
Are C5 Corvettes a good investment?
While a fifth-generation Chevrolet Corvette isn’t likely to fetch big numbers at auction, it is a potentially appreciating asset. That said, it’s unlike that the C5 will rise in value any time soon. Of course, time will have to tell how collectible the C5 will become. Moreover, the C5 Corvette, especially the Z06, is one of the finest performance bargains on the market.
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