From mild to wild, these are the 7 cheapest Corvettes right now
Everybody loves a bargain, whether it’s happy hour beers at your local, BOGO at the book store, or a two-fer at your favorite online retailer. Heck, in some jurisdictions, Black Friday has somehow turned into the entire month of November. In this economy, you’ll hear few complaints.
There are deals to be found throughout the classic car market as well, and, lucky for us, that includes the performance realm occupied by America’s Sports Car. Despite a few eye-watering results in 2023, like the $3.14M record price RM Sotheby’s achieved in January for a 1969 ZL-1 convertible, Corvettes have always represented good value for money. After digging into the data from our most recent update to the Hagerty Price Guide, we’ve determined that these seven Corvettes—one from each generation, excluding today’s C8—are the cheapest examples you can buy right now. Unsurprisingly, they hover around base-model territory, but a Corvette is a Corvette, and it’s almost impossible to go wrong.
For this exercise, we’re focusing on examples in #2 condition (Excellent), which means they drive like new and might even win you a trophy at a regional car show. If there’s someone on your “Nice List” this holiday season, now might be the perfect time to shop.
C1 (1953–62)
1956 Convertible
The 1956 Corvette represented a complete overhaul from the models that preceded it, the most notable difference being those gorgeous side coves sometimes set off by two-tone paint. Following the V-8’s introduction in 1955, three different 265-cid V-8 configurations were offered in ’56, with outputs of 210, 225, and 240 horsepower. The penny saver here is the base car, breathing through a four-barrel carb and putting its adequate power to the back wheels through a three-speed manual transmission. Following a modest rise in prices that began with the onset of the pandemic, prices peaked around April 2022 before settling back to pre-pandemic levels. Today, a car in #2 shape sells for about $70,500. Figure around $60,000 if it’s equipped with the Powerglide automatic.
C2 (1963–67)
1964 Convertible
Chevy’s 1963 redesign of the Corvette gave us a coupe for the first time, and what a coupe it was; the one-year-only Split-Window Corvette is rightly regarded as one of the most beautiful cars to ever hit the road. The rest of the Corvettes in second-gen lineup were no slouches, either. Open or closed, you can’t go wrong. Take the ’64 327/250 convertible, for instance. In this configuration, with the optional four-speed manual and single Carter four-barrel, it’s sitting at about $64,000, and closer to $51,000 if equipped with the base three-speed manual. It’ll never be a match—on the street or the auction block—for its hi-po 327/375 fuelie counterpart ($89,400 for a #2), but you’ll hardly care when you’re buying million-dollar looks for Silverado money.
C3 (1968–82)
1976 Coupe
The swoopy, pointy, sexy “Shark” Corvette hit the streets in 1968, and though it would trade its chrome bumpers for even more fantastic plastic by 1974, the basic shape soldiered on into the early ’80s, by which point more than 542,000 had been produced—roughly equal to total production of C1, C2, and C4 Corvettes combined. While few enthusiasts would ever accuse a ’76 Corvette of being potent, a nicely kept 180-hp L48 coupe is a joy to own. They also take us into affordable, sub-$20K territory, with an average sale price of $19,500. That may seem cheap, and prices appear to be leveling off as we end the year, but keep in mind these cars have gained nearly 64 percent in value since 2018, which means that if the best time to buy one was five years ago, then certainly the second-best time is today.
C4 (1984–96)
1986 Coupe
When it arrived, the fourth-gen Corvette was a revelation in every way, a world-class performer underpinned by an all-new chassis, with a funky digital dash to rival the finest Texas Instruments calculator in the land. After debuting with 205 hp, base cars quickly got a bump to 230, and for 1986, a convertible model returned to the lineup following an 11-year absence. It’s the ’86 coupe we’re interested in, however, and at around $17,900, it’s the cheapest Corvette of them all. But for how long? The five-year trajectory on these cars has seen them gain 50 percent, and they’re still headed up.
C5 (1997–2004)
1997 Coupe
Until mid-2021, fifth-gen Corvettes represented one of the best bang-for-buck ratios in the performance-car world. Today, at an average #2 price of $26,400, they’ve gained the attention of collectors, but they’re still a solid deal. And with 345 horses on tap from that terrific LS1 V-8, a near 50/50 weight balance, and 30 mpg possible on the highway, there is little this Corvette can’t do. The ’97 model year was coupe-only, and the automatic transmission was standard, so these days it generally means a 10 percent discount. If you prefer two pedals, it’s a good way to save yourself some dough. If you prefer the wind in your hair, however, maybe consider our next pick.
C6 (2005–13)
2005 Convertible
Prices have cooled in 2023 on all but the very best ’05 Corvettes. Thankfully, a #2 condition car is not the very best, so a convertible at $32,000 is a stellar deal. Especially when you consider the 400-hp LS2 lugging it around. In fact, the kind of performance this car delivers for the price is almost unfair; an ’05 Porsche 911 convertible in similar fettle will set you back $55K, for example. There’s no intermediate shaft bearing issue to fret over in the Corvette, either. Win-win.
C7 (2014–19)
2014 Stingray Coupe
Before Chevy made the dramatic switch to a mid-engine layout for the C8 Corvette, the seventh-gen car gave enthusiasts everything they could want from a front engine/rear-drive layout. The car featured a 455-hp LT1 V-8 mated to an all-new seven-speed manual gearbox that offered rev-matching, a carbon fiber hood and removable roof panels, plus a more premium interior (finally!) and a full suite of gizmos designed for coddling and convenience. We don’t currently feature these in the Hagerty Price Guide, but you can get yourself into one for around $48,600, and when compared to some of the very latest, very snoozy new-car offerings, why wouldn’t you?
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Good article on Corvettes. It amazes me that the C3 – America’s purpose built “Supercar” with 4 wheel disc brakes, independent suspension, fiberglass body, high HP/Weight ratio (pre 70) and looks to kill, lag behind the likes of the Camaro and Mustang, even the Chevelle! The latter being steel body, solid axle, drum or rear drum, with available (although less) power are the focus of higher prices. The 68-72 chrome bumper Sharks with the Big Block 390 hp 427-454s are comfortable performance cars that out-corner and perform the family cars, hands down. Take a C3 BB for a ride. For the enthusiast, the early C3s are a great value and prices are on the rise!
“In this economy…” I wish I had a C-note for every time I have heard that saying, no matter if the economy was flying high, tanking, or somewhere in the middle (like now).
I have a ‘58 and an’09 Z06. I love them both and will never care what anybody else thinks. If I had room I would have one of each generation.
The C1 and C2 ‘Vettes are, in my opinion, the best looking. I have never been a fan of Corvette since those models. Yes, I would love to have one of either generation or one of each.
1996 LT4.
The biggest mistake is buying a corvette that’s NOT TURN KEY READY! don’t get caught up in a restoration you can’t afford and you will hate the car when it takes three years to complete, buying a corvette that’s rough but you can drive it can be the right way to go if you don’t have the cash! have fun with maybe inproving it but still able to drive it. than sell it in the spring and look for another I suggest a C4 I have a 96 with lt4 6speed and a few other years, this is my go to car, C4’s they have it all.
I agree! I bought a low milage C5 convertible in pristine condition and am so glad I did. I don’t have to worry about it breaking down and it performs like a champ. It also draws a lot of attention where ever I drive it.
In 2017 I purchased a 1978 two tone grey and silver L82 silver anniversary with around 60K miles or 100k kilometers on it. Car had a nicely done repaint with a newer oyster interior. Stock drivetrain (even had its air pump!) except for a cat delete which was apparently good for around 30 plus hp on the L82. Car has sat for a couple of years so I had to do complete brakes but otherwise very good mechanically. With the 3:73 gears it was very quick for a car of that era. Surprised some drivers in later model cars. Paid 9500 Cdn for it, or less than $7K US, and had fun for a couple of years. Sold it at a slight profit.
I started my collection with the ’82 collector edition. Still a beautiful car today with silver, grey and the floating rear glass hatch. I had a C1, C2, C3 ,C4 (’84 and ’86 pace car convertible). The best was a ’63 split window with factory air (less than 300 made). After the divorce……………0 corvettes
Saddest story I’ve heard all year…..
A C-7 for $48,600 is a dream from yesteryear! In late 2019 prior to the C-8 announcement a 2017 coupe Z-51 was offered for $48,900. Best car deal I ever made. Moving the driver made older Corvettes more valuable as they will be built no more..
The author is way off on the C4s, both in his recommendation and value. Suggesting a first-year (1984) C4 with all its build quality issues, too-stiff ride and Cease-Fire Injection engine with 205 hp is laughable. An ’86 isn’t a bad choice, and you can get them all day long for a lot less than the stated $18k — more like $12k for a nice example. But for the stated value of $18k you could get a nice, much more powerful (300 hp) late C4.
The best years for the C4 are 1995 and 1996 as they had a vented Opti-Spark system that made them more reliable than the 1992-1994 versions. These later C4s also had superior build quality (less squeaks and rattles).
The C4 is a truly remarkable car. After doing a lot of research and test drives, I decided the 1991 was the best for me. The 1991 L98 has about 50 less peak HP than the 1992 LT1, but the L98 has 50 more ft-lbs of torque. And without the sometimes problematic Opti-Spark or the other more complex electronic engine controls not used on the L98. (The L98 engine even weighs a little less than the LT1.)
For me, that substantial extra torque at lower rpm makes the L98 more fun to drive than the 1992-on LT1 C4 anywhere but on the racetrack. 1991 also had the C4 “refresh” updates to the body and interior plus the better build quality of the later C4’s.
Bottom line is the 1991 C4 is the “sweet spot” of the C4 models for me. Most importantly, I was able to find a nice low mile very original 1991 for a great price that I could afford.
Sorry to break up your party, but the 1991 L98 does NOT have 50 more ft-lbs of torque than an LT1…They make about the same torque, just at a bit higher rpm.
THANK YOU FOR ALL THE INFORMATION HAPPY THANKSGIVING TO ALL GOD BLESS
You too!
I would like any of them except the C5 or C7 (never liked the styling of either). If I were to choose, though, the 1956 if I could afford it, or the C4 if I could not, would be my choices.
For me it is the C2. Specifically the 65,66,67 big blocks. Nothing compares with the 63 Coupe style but the interior upgrades and disc brakes really made the 65/67s best of the C2s. I may be a little biased as we have a 65 BB convertible, 66 BB coupe and 77 L48. Whatever your preference, drive it and have fun, that is what they were built to do.
I have a 2001 Z06 Torch Red 6 speed standard trans, with 71000 miles on it. I am 76 years young and my back and sciatica is acting up on my left side every time I spend approximately a 5 to 6 hour ride in the car. The car is not in concourse condition but it’s very nice and in good to better condition and I think it’s time to get an automatic transmission and it is insured thru Hagerty. I absolutely love the look of the C5 Coupe but just might be the time to give my clutch days up. LMK THANX
Coupes for me. Grand Sport or Z06 are my favorites but for C4 it the ZR-1.