help re:1990 zr-1

Boy do I agree.....seriously there were a coupke at Carlisle last month selling (asking price) 20K and 22K. Cars are just not investments... hedges against depreciation maybe, ?

=================

==============================

I have to agree with you on this count also...once your dead all fun goes out of collecting and playing with toys of any kind.....

Bob G.

Take a look at the Chicago Tribune newspaper today. Theres a 1990 ZR1 at a dealer , exc. cond, 64 k miles (i believe it was) for : low $20 k.'s.

Ralph:

Take it for a test drive. Drive it to a nice lonely straight road. At ~50mph stick it in second gear and open 'er up. Shift it into third gear at 7000 rpms. Shift out of third gear when things start to blur. Run it up into 4th gear until it's almost ready to shift again. Then look down at the speedometer. You've just broken the speed limit nearly three times over. If a cop sees you, you better have a good lawyer. It will take weeks to wipe the smirk off of your face. All this, plus anti lock brakes, cruise control, climate control, heated side view mirrors, 25 mpg on the freeway, and a Bose Gold sound system. Pure nirvana. But as an investment, not such a great idea. They sold originally for ~$65k+, and today you can buy a fairly low mile example for less than half that. Check eBay and Hemmings. Some say that they are just now hitting the bottom of the curve and are sure to appreciate. It's hard to say. With gas now over $3 per gallon, and sure to get even higher with Rita bearing down on Texas oil fields...

What the heck.

You can't take it with you.

Buy it.

You'll like it.

;-)

TomC '90ZR1 #792

I'd keep the LT4, as a 100% adder on the price the ZR1's are not holding value as you might expect. Then to if you're going to buy it, and store it, the reason it was built is lost. It's been said before, get what makes you happy because it's not an investment with a return. I've also told this before that a club member that has a 53, 54, 55, 56, 57, 58, 65, 67, 68 L88,

84, and a couple of GT350 Mustangs sold his ZR1 because it was loosing him money, note that he kept the 84.

Dad wrote: "note that he kept the 84." Don't hold that against the club member Dad! He got the 1st 9 Vettes right, as well as the Mustangs. The '84 was a cheap mistake, relatively speaking.

Rick:

Hate to rain on your parade, but you're absolutely wrong. Sure, GM discontinued the LT5 ages ago, but there's plenty of after market suppliers for essential components and wear items. Of course they're expensive! It's a Corvette, after all. A limited production, high performance "SuperCar". The fastest production car made at that time. It goes without saying that replacement parts will be pricey. Have you ever priced a tune up on a Ferrari or a Lamborghini? Not too many ZR1s are being raced today, there's too many newer and faster cars. The important thing to understand is that it's taken 15 years for the rest of the automotive industry to catch up to what GM and Lotus did with the ZR1.

TomC '90ZR1 #792

I've read and heard from many places certain parts are very scarce. I even read in one of the Vette Mags that a club racer put a very low rev limiter in his because he didn't want to break it, for the real fear of not being able to get parts any longer....... And also read an article in one Vette Mag about some are hoarding what they can get..

But I have no first hand knowledge of hav> RicSeyler wrote:

Rick:

Right now there are 13 ZR1's for sale on eBay. There's also a new "in the box" ZF 6 speed transmission. Last week there was a complete LT5 engine. If I blew the motor on my "Z" I could just buy another car for parts, or... I could call Doug Rippe Motor Sports right now and buy an complete LT5 engine stoked to 402 cubes producing 550-600hp.

you ask? Sure! Damn Straight! Why shouldn't it cost nearly as much as the car. The ZR1 option doubled the price of the car originally. Rick, cars like these will not just go away. Right now it's cheaper to own one than when it was new. Some years ago people said, "Who in their right mind would buy a 1969 ZL1 Corvette with an Aluminum 427 when the steel block 427 was so much better, stronger, cheaper, etc."? So only two sold. So now it's 36 years later and you can buy a C3 L88 for anywhere between $250k and $500k. Those two ZL1's are now priceless. Any collector worth their beans would sell their soul for either of them. I'd be willing to wager that parts for these cars are pricey too.

For myself, I just love to drive my ZR1. It's a piece of history, plus a really fine automobile. And it's a sleeper. Joe America has no idea that sitting next to him at the stoplight is a car capable of nearly 200mph in street trim. Faster than any police car in the country. Faster than most police helicopters too. The radio thing still beats you every time, but what the heck.

TomC '90ZR1 #792

Like I said Tom, I'm just a talking head when it comes down to actually going through looking for LT5 parts, cuz I haven't done it. But I sure have read about it and heard about it.... FWIW a ZF tranny (they are non-ZR1 specific) and even a complete LT5 aren't what I'm taking about. But I digress.....

And my statement isn't a hack against a ZR1 at all and wasn't intended as such, they are very fine autos with a valid reputation. A person would be lucky and fortunate to own one. But if I was to be buying one I would research what I've read and heard right up front. Especially if I was interested in going club racing. But I don't see too many people cracking the head between the exhaust valves, putting a piston through a skirt on the block or breaking a crank and main cap gusset driving it around on Sundays and to shows and such.

When it comes down to it, maybe they just had to fill mag space or it's just gossip I've heard and read. Dunno, haven't been through it.

Crabs wrote:

Oh and I guess it's true you could start buying whole cars for a broken head or broken block skirt or main gussets, etc but I doubt most owners could afford to do $18,000-$30,000 or so for a head replacement or a block replacement. But in that sense you are absolutely correct. I guess a part isn't scarce if you can afford to buy a whole car to get a spare engine part.

I th> RicSeyler wrote:

Ralph:

To sum it up, The good: Great car, great performance, great looks, make you feel like a kid again. The bad: Probably not a great investment if you're goal is ROI. There's a 50-50 chance the price may go higher or lower. ;-) The ugly: At today's prices you're getting a much better deal than the guys and gals that paid premium prices when they bought these cars new off the showroom floor.

TomC '90ZR1 #792

Anyway, the zr1 would strictly be an investment, not for driving.

At $30K it isn't especially a good investment. If a ZR-1 is the only thing you will cnsider, and you have patience, keep an eye out for someone who HAS to get out from under one and I suspect you will pick one up for $20K or less in the next 3 - 5 years. In another 10 years, the price will probably be up.

Charlie

Cars are rarely a good investment. I picked up my ZR 1 because I couldn't pass up the price. No matter where I go it attracts crowds - expecially the Lotus 32 Valve LT5 - we are very active in ZR1 net and these things are built like a Rock - that is why Chevy had MercCrusier hand build the engines - no one is having head cam or block issues - if you find a low miler -- BUY IT-- it is definitely a sleeper and with the 16 injectors gives you that throw back feeling like kicking in the three deuces -- Especially fun eating up C5s --- Great cruiser --- see you at the ZR1 Gathering at Bowling Green May '06

Gene

You say cars are not a good investment.....I have a 1967 Shelby Mustang GT-500 that I paid $700 for in 1973...car will now bring $200,000-$250,000..I screwd up and sold my 1966 Shelby for $5,000..around

1980 or so.now it too is worth $60,000-$100,000..and you think cars are a bad investment...????

And then there is my 1973 Pantera...still being restored...bought new for $7,500 ( dealer close out )..will soon be worth $40,000+