Used Chevrolet Corvette for Sale in Portland, OR (2024)

FAQs

Is it a good idea to buy an old Corvette? ›

Pay Attention to Cost

The cost of owning a Corvette can be steep, so be prepared to pay for the luxury of owning this classic car. However, they are a good investment if you like to fix and resell cars. Unless you plan on purchasing a Corvette that needs repair, be ready to pay a hefty price.

In 1957, the automaker augmented the V8 displacement to 283 cubic inches and added fuel injection to produce 283 horsepower. By 1962, Chevrolet had made significant upgrades to the Corvette that boosted sales, and most Corvette enthusiasts would agree it was the best model year of its generation.

Corvettes Are the Ultimate “Low Rider”

First, ask any non-Corvette automobile enthusiast what the biggest downside to a Corvette is, and the majority will readily reply that “the car sits too low!” They're not entirely wrong, though there are also plenty of cars that sit just as low a Corvette, and some sit even lower.

Chevrolet Corvette Maintenance Costs. A Chevrolet Corvette will cost about $7,714 for maintenance and repairs during its first 10 years of service. This is more than the industry average for popular coupe models by $291. There is also a 20.36% chance that a Corvette will require a major repair during that time.

The Chevy Corvette depreciates slower than others

The Corvette has been a top performer in the resale market for some time. In a 2018 study by iSeeCars.com, a 2013 C7 Corvette placed third behind the VW Golf R and Subaru Impreza WRX for having the lowest average five-year depreciation among sports cars.

C5 Corvette vs C6: The Final Verdict

If you're looking for a car with historical significance and transformative design, the C5 is your pick. On the other hand, if modern aesthetics, sharper lines, and enhanced performance resonate with you, the C6 is the way to go.

We recommend staying away from the 2005, 2006, 2007, 2009, and 2013 models. These may require pricey fixes, especially since the car is one of the rarer choices. The biggest fault in these models of the C6 Corvette is in the transmission. Unfortunately, this part is expensive to handle, along with the engine.

While we're talking demographics, a Chevrolet spokesman told FOX Business that the median income of a 2020 Corvette buyer was $76,000 higher than last year's C7 owner. That puts the C8 owner's yearly income in the range of $214,000.

For minimum coverage, the average rate of $529 per year for the Corvette is lower than the national average rate of $622 per year. However, you may be able to find more affordable rates based on your driving history, location and other personal rating factors.

What issues do Corvettes have? ›

The C8 Corvette's electrical system is complex and can sometimes be problematic. Common problems include malfunctioning infotainment systems, erratic dashboard displays, and car lighting issues. These electrical issues can be frustrating for owners.

STUDY: The Chevy Corvette is One of the Top 20 Vehicles that is Currently Better to Buy New vs Lightly Used.

A typical Chevrolet Corvette will last 150,000-200,000 miles with excellent care. This number puts the high mileage point at the 150,000-mile mark. Once the Corvette hits this point, the Corvette is far more likely to have serious issues that will cost an ample amount of money to handle.

Some of the earlier generations of the Corvette are highly sought after and have an average value of six to seven figures.