First, you have to buy the car! Luckily, this fifth-generation Corvette from General Motors is pretty affordable.
Market value: $12,881
You may see higher or lower prices due to the condition of the vehicle, although any sports car at that cost is a steal. Trim also plays a big role in the cost of the car.
Here are the trim levels on the 2002 Corvette:
Coupe: 2-door, 350 Hp
Convertible: 2-door, 350 Hp
Z06 hardtop coupe: 2-door, 405 Hp
Second, you need to factor in the day-to-day costs of ownership.
Repairs: $737 annually
Because the ‘02 Corvette is an older vehicle that will likely have plenty of miles on it already, you should plan on having to repair it more often than a new car.
For instance, you may need to replace the weatherstrip, brake pads, and moldings. Potential major breakdowns aside, just taking the car in for routine work will rack up a substantial bill over time as you have to replace aged parts.
Insurance: ~$2,000 per year
On top of maintenance, a Chevrolet Corvette owner should also plan for higher insurance rates. Due to the car’s well-known sports history, insurance companies will likely mark you as a riskier driver and charge you accordingly for the insurance you need.
Where to buy a 2002 Corvette
You’ll have the easiest time finding the right Corvette on
, but Kelly Blue Book and Craigslist are worth checking out as well.
Remember to get the car inspected by a professional mechanic before committing to buying a used car. Ask for owner’s manuals and service manuals, if available.
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What does the 2002 Corvette bring to the table?
Following the initial 2001 release of the Corvette Z06, Chevrolet continued to work on the automotive design. Here are some key features of the C5 2002 Corvette:
An engine upgrade that gives it an additional 20 horsepower
14 more lb-ft. of torque for a total of 400 lb-ft.
Sleek driver information center (DIC)
Four-speed automatic transmission or optional six-speed manual transmission
Aluminum wheels
Driver steering wheel airbags
Climate control
Cruise control
Traction control
Combined 20 MPG fuel economy
Removable roof panel (on coupe)
Head-up display (standard on Z06, optional on others)
Strengths and weaknesses of the 2002 Corvette
As with any vehicle, the 2002 Vette has its share of pros and cons.
The good: excellent performance
As a testament to its design, the 2002 Z06 Corvette is a high-performance sports vehicle even by today’s standards. Between its rear-wheel-drive style and improved V8 engine, you can go from 0 to 60 in 3.9 seconds!
The bad: low-grade interior
As with any used car that’s more than 10 years old, the interior can feel as though it's lacking when compared to more modern vehicles.
However, despite using cheaper materials for the upholstery and interior paneling, the 2002 Corvette has a cabin that’s on par with other cars of a similar age.
The good: day-to-day use
One of the 2002 Corvette’s best features is its ability to be both a high-performance sports vehicle and an everyday car. Though 24.8 cubic feet of storage may seem cramped, it’s a respectable cargo capacity when compared to other sports vehicles.
Additionally, its fuel efficiency of 18/25 MPG city/highway makes the 2002 Corvette coupe a functional car that’s ready for a joy ride.
The bad: no Z06 convertible options
While it may not be an issue for some enthusiasts, the Z06 Corvette lacks a convertible option. That means you’ll have to settle for less horsepower if you want to let the top down and feel the wind in your hair.
The good: bargain purchase price
While a lot of these pros and cons are subject to personal taste, everyone can get behind a car with a low purchase price. At less than $13,000, the 2002 Chevrolet Corvette is an amazing deal for the power and performance being offered.
Even if you weren’t looking for a sports car, a price this low makes the vehicle a decent buy for anyone.
The bottom line—which 2002 Corvette to buy
Are you after an all-out sports car, or are you simply looking for a fun car to use every day?
Z06 model: This is your go-to if you’re after a pure sports car. With 55 more horsepower than the other models, this version of the 2002 Corvette is the best for speed.
Standard: This coupe is the more practical of the Corvettes by far. With 10 more cubic feet of storage space than the other models, you’ll find this 2002 Corvette to be the most utilitarian.
Either way, slap on some C5 decals and enjoy life with your new C5 Corvette.