For Sale - 2003 Convertible - Spiral Grey

We would like to sell our 2003 C5 Corvette Convertible.

I wanted to offer it to the Florida Forum members before I listed it nationally.

It is a 2003 Corvette convertible that we purchased new from a forum vendor. It is Spiral Gray in color and has approx. 95,000 miles on the odometer. I have all maintenance records since new and they will be provided to the new owner. It was serviced by GM while it was under warranty and by Terrace Auto Repair in Tampa since. It has never been raced. It has never been hit and has never had any body work done on it. It has a few minor cosmetic blemishes because my wife drives it to work every day but it looks like new. It is mechanically excellent. It doesn't use any oil, starts instantly, the A/C works great and it is super dependable. We wouldn't be afraid to drive it to California tomorrow. This will make a terrific car for the next owner.

We were going to keep it until after the C7 was available but we had the chance to buy a 2007 convertible with only 15000 miles on it from a neighbor.

The bank has given us a resale value from the current NADA Official Used Car Guide. They list it as having a value of $22,275 and a loan value of $16,575. We are asking $22,000. It is in great condition.





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2003 Corvette Convertible

Standard Equipment:
- 5.7 Liter 350 HP Sequential Fuel Injection V8 Engine
- 4 Speed O/D Auto Transmission
- Active Handling
- Traction Control System
- 4 Wheel Independent Suspension
- Power Front/Rear Disk Brakes
- Power Speed Sensitive Rack & Pinion Steering
- Limited Slip Dofferential
- Aluminum 5 Spoke Wheels
- EMT Tires W/tire Pressure Monitor System
- Oil Life Monitoring System

Safety / Security:
- Driver/Front Pass Airbags
- Airbag OFF Switch Front Pass
- Remote Keyless Entry
- Pass-key II Theft Deterrent System W/Alarm Horn
- 4 – Wheel Anti-lock Brakes

Exterior:
- Power Heated Outside Mirrors
- Full Folding Top W/Heated Rear Window Glass
- Retractable Halogen Headlamps
- Fog & Daytime Running Lamps
- Chrome Plated Exhaust Tips

Interior:
- AM/FM Stereo CD W/Bose Speakers
- Dual Zone Electronic A/C
- Carpeted Floor Mats
- Driver Information Center (DIC)
- Cruise Control W/Resume
- Intermittent Wiper System
- Leather Seating Surfaces
- 6 – Way Power Sport Seats
- Tilt Leather Wrapped Steering Wheel
- Power Windows & Door Locks
- Remote Deck Lid & Fuel Door Release
- Parcel Net

Options:
1SB Preferred Equipment Group:
- Memory Package
- Electrochromic Mirrors : Inside Rearview & Outside Rearview
- Steering: Power Tilt & Manual Telescoping Column
- Twilight Sentinal
- Heads Up Display
Polished Aluminum Wheels
Performance Handling Package
Performance Axle: 3:15 Ratio
Body Side Molding
Front License Plate Frame
50 State Emissions
P275/45ZR17 Front Tires
P275/40ZR18 Rear Tires
Black Top

MSRP - $ 54,445

Owner Installed:
Window Valet - Remote Control Power Windows - Let the windows down as you approach the car. The heat escapes before you get in. No need to get back into the car to put the windows up. Put the top up and walk away. Convertible owners know all too well what this means. Don't leave the windows down just because the car is on your trailer. Climb out, raise the windows, secure the car. Tight garages are no longer a problem. It's much easier to get into the car after lowering the windows.

Goodyear GS-D3 Non-Runflat Tires installed to replace the runflats.

New Heads Up Display Bezel (These are known to crack)

Soldered Temp Display Readout Board (These were surface mounted by the factory and prone to failure)

Front Pads & Rotors Replaced @ 80,000 Miles

New Battery Jan. 2010

Car can be seen in Wesley Chapel Florida.

Feel free to call for more info.

Lloyd Johnson
(813) 973-0329

Any Suggestions ?

I've had this car on the Forum for about a month now. A lot of people have looked at it but no one has commented about it.

I put it on the national Corvette Forum also. The only response was "Nice car". The guy gave it a bump to the top.

I sat the car in the front yard and our postal carrier and his wife stopped by to look at it. They drove it around the block and said they really liked it. They wanted to think about it overnight and came back the next day. They are building a cabin in the Tennessee mountains and decided their cash should go there instead of buying a car they really didn't need. Good decision. I asked them if it was priced right. They thought it was.

I advertised it in the local paper last weekend. I got several phone calls about it. One guy that saw the ad and came out to look at the car. He thought it was nice but wanted to look at some other cars before he committed. He touched back with me and wanted to negotiate the price. I'm asking $22K for it and he offered me $19K. We weren't able to come to a compromise. Since it is an excellent car and I've only had it on the market a short time I felt I had to turn him down.

There are a lot of Corvette knowledgeable people on the Forum so I thought I would ask for comments and opinions. Should I have sold it for the $19K offered?

Brother, just being the devils advocate for a minute, this may be the problem:

The bank has given us a resale value from the current NADA Official Used Car Guide. They list it as having a value of $22,275 and a loan value of $16,575. We are asking $22,000. It is in great condition

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Although the resale value is $275.00 over what you're asking, the bank or CU is only going to loan $16,575.00 on a good day
This leaves $5k and change that someone is going to have to come out of pocket with.

I know when I purchase a pre-owned vehicle, and I see the NADA or KBB retail on it vs. the loan value, I try to get as close to the actual "loan value" as possible, to prevent being totally upside down in it when I drive away.

KBB & NADA are guides and IMO-based upon a perfect world. I don't think they truly take into consideration the present economy.

This economy SUCKS!

And I don't expect to see a change for several years as it relaties to the newer models.
Even the C6's, Z06's and ZR models are sitting unsold on dealer lots and showrooms.
Some of the specialty vettes are moving (GS for example) but I don't expect to see that continue either in great numbers.

Yours is an exemplary piece of automotive art:thumbsup:I don't think you'll find a cleaner and better kept vette on the market anywhere!!

The down side is, with the introduction of the C6, the glut of both new and pre-owned vettes, both C5 & C6 on the market, has driven the prices down.
It's become more of a buyers market.

It sounds like you've had a couple of "good" tire kickers show interest:thumbsup::thumbsup:
It may just be the financing that's buggering up the sale.

If the guy that offered 19k would pop for 20k or even 19.5, I think I'd take it:thumbsup:

Just my humble $.02

Best of luck with the sale:thumbsup:

Gordon

I would have taken the $19K and ran. I'm surprised you are getting any calls listed at 22K. The resale on these right now are not good. You can find C5s in the mid teens, maybe not locally, but they are out there so you are competing against those too. I know guys that have picked up C5Z's for 19-22K. If I had 19K to blow, I'd be looking at a C5Z. Just my $.02 as well. Good luck on the sale.

shakedown067 said:

I would have taken the $19K and ran. I'm surprised you are getting any calls listed at 22K. The resale on these right now are not good. You can find C5s in the mid teens, maybe not locally, but they are out there so you are competing against those too. I know guys that have picked up C5Z's for 19-22K. If I had 19K to blow, I'd be looking at a C5Z. Just my $.02 as well. Good luck on the sale.

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I agree with "Shake"...I sold my yellow "Z06" 2003 Anniversary 6 months ago and took $19,500.00 and it was show quality and won its fair share of show trophies and it had 38,000 miles on it. You have 95,000 miles on yours and that is alot for a 2003 or 13,500 per year. If you are on this Forum for advise take $18.5 to $19.0 and RUN LIKE HELL!!
Wish you luck also!!
Another Suggestion: Take the Corvette to St. Armand's Circle tomorrow Saturday, May 1 and park on the street with "For Sale Sign". This is a hugh show and TampaBay Vettes will be there, including me. I am the Victory Red Z06, C6. Show is 9am to 3pm. To park on street you need to be there at 8:00am.

:welcome:You can Caravan down with us at 7:00am from Ferman on Adamo Drive.

http://www.corvetteflorida.com/forums/calendar.php?do=getinfo&day=2010-5-1&e=578&c=2

Ferman Building (Club House)
9839 Adamo Drive (Highway 60)
Tampa, Florida 33619
Leave sharply at 7:00am

:hehehe: Jim :hehehe:

Before I moved from Florida, I was looking at 2004 Z06, less then 20000 miles, great condition, one owner. IT was on a lot in Sarasota and they wanted less then $18,000.00. They offered me $10,000.00 trade in on my 2001 C5 Coupe which had less then 50,000 miles and all the options.
The best offer I got towards a trade was $11,000.00 with Cox Chevy offering $8500.00.







Gee I miss posting pics

Jims right.

Take it to the big shows and park it on the street.

That's the way I sold my 87.

Couln't move it come hell or high water!!

Cleaned it up, put a for sale sign on it, parked it on the road leading to the pier in St. Pete during the Pier show (about halfway down) and before I could get to the top of the drive, already had a guy interested in it:dancer01:

He bought it a few days later:thumbsup:

Thats the way to do it! Get 'em while they're in the mood

A touchy subject for sure....not wanting to hurt anyone's feelings, but the market is just not there anymore. Few people are willing to pay more than loan value these days. It's a buyers market and Corvettes are a niche vehicle, but even those who would usually fit in this catagory are being cautious.

I agree with the others who've mentioned the price point. I know that 95K miles on the LS1 is nothing, really, but there are deals out there for rides with a lot less road time. For $22K, you can get a nice Z with 25K - 35K on the clock

I think $19K - $20K is the sweet spot for you, since that's really where the market is right now.

Good luck! :thumbsup:

85vette said:

A touchy subject for sure....not wanting to hurt anyone's feelings, but the market is just not there anymore. Few people are willing to pay more than loan value these days. It's a buyers market and Corvettes are a niche vehicle, but even those who would usually fit in this catagory are being cautious.

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I agree.

Bird in the hand and all that.
your car your money your choice

Its a tough market. I just met a guy today who bought a triple black 03 with a few boltons, less then 60k for 17k.

Its true its your car, your price. I was in your shoes a couple months ago when I tried to sell my car so I could pay off all my school loans at once instead of dragging them out for years. I pulled it off the market cause it just wasnt fair after all the time/money/stress I put into this car to let it go for the current market price even with all the mods.

79vette said:

Bird in the hand and all that.
your car your money your choice

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Not to hijack this thread, but 79vette, do you have any more pics of the car in your avatar? Thats a beauty!:thumbsup:

Shadow said:

Not to hijack this thread, but 79vette, do you have any more pics of the car in your avatar? Thats a beauty!:thumbsup:

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I put some on my CP in picture area
thanks

Our 2003 Convertible Has Sold

Well, it took a while to get the right car in front of the right buyer but we have sold our 2003 Spiral Gray Convertible.

I got a lot of response to this ad on the internet. Most everyone wanted a really nice car with really low miles for less than $20,000. I certainly understand that and I wish everyone all the luck in the world in finding that car ... BUT ... that expectation may be a little unrealistic.

I ended up soliciting help from a consignment lot and it cost me $900 to have them sell it for me. I don't know if any of you have sold a car this way but a consignment dealer can offer a lot of advantages.

First of all they have a commercial lot in a highly visible high traffic area. Something that I don't have with the car sitting in my yard in my subdivision. They have dealer plates and can offer test drives. An individual has a difficult time keeping an unused car highway legal. The lot could offer prospective buyers assistance in purchasing the car. They can take trade-ins, I can't. They can offer financing, I can't. They are professional salesmen that deal with customers as part of their job, I don't. They get paid to sell the car.

The guys that sold the car took a 1994 Corvette in trade. Even though the guy that bought it didn't have a perfect credit history they were able to arrange financing for him. I'm sure they made something on the financing deal and with any luck they will make another $1000 when they sell the '94.

We sold the car at a reasonable price, the guy that bought it got a really nice C5 Corvette and the lot made a profit and can stay in business another day, so everybody wins. .