2002 Chevrolet Corvette

2dr Coupe

8-cyl. 346cid/350hp SFI

#1 Concours condition#1 Concours
#2 Excellent condition#2 Excellent
#3 Good condition#3 Good

$24,000 CAD*

+10.6%
#4 Fair condition#4 Fair
Value Graph04/2407/2410/24$5k$10k$15k$20kJan 2025
Pricing adjustments
-10% for auto trans.
Adjustments are in USD
-10% for auto trans.
Adjustments are in USD

Forecasted valuesBeta

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1997-2004 Chevrolet Corvette stats
Number produced **
14,760
Highest sale
$390,773 CAD
Lowest sale
$5,711 CAD
Most recent sale
$67,997 CAD
Sales
2030
** Number produced is specific to this year and configuration.
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Model overview

Model description

After almost 15 years with the fourth generation Corvette, GM released the most radically new version of America’s sports car since the model’s debut in 1953. The new C5 was both lighter and stiffer than the C4 thanks to hydroformed frame rails, and featured a transaxle that both improved weight distribution and freed up interior space. Drive-by-wire throttle and variable effort power steering were other new features but, most importantly, the C5 Corvette introduced the world to the all-aluminum LS V-8 engine, undoubtedly one of the best engines ever made and one that’s been used in countless engine swaps from restomods to NA Miatas and even Toyota minivans. In the C5, the LS1 was mated to a new Borg-Warner T-56 6-speed transmission, while a four-speed automatic remained available.

For the initial 1997 model year, the Corvette was only available as a coupe with a removable roof panel, but a convertible version soon joined the lineup for 1998 and a hardtop (also called the Fixed Roof Coupe) came in 1999. While all models (even the convertible, which was also the first Corvette to have a trunk since 1962) were stiffly constructed and had reduced squeaks and rattles compared to the C4, the rigid Fixed Roof Coupe was chosen as the basis for the Z06, named in honor of the high-performance package available on the 1963 Corvette. The Z06 was a great leap forward in speed, and really brought the Corvette onto the world stage as something that performed like a supercar at a bargain price. 0-60 could be done in less than four seconds and the quarter-mile in 12.4 seconds, but the Z06 also excelled in handling and braking. With stickier tires, reworked suspension, titanium exhaust and a 385-hp (405 hp from 2002 on) version of the OHV LS instead of a heavy and complicated quad cam motor like the old ZR-1, the Z06 is still a fantastic all-around performer even today. When it came out, it was not only quicker than a Dodge Viper but also cheaper to buy.

The base C5, meanwhile, was initially introduced with a 345-hp version of the LS1, although this was boosted to 350 hp in 2001 thanks to an intake manifold borrowed from the Z06. Suspension options included F45 Selective Ride Control, but this was eventually replaced by Magnetic Selective Ride Control in 2003. The only suspension available on the Z06 was the race-developed FE4 suspension. The C5 also made a name for itself on the track. With three class wins at Le Mans and numerous other high-profile endurance racing victories, the C5-R was one of the most dominant GT cars of recent memory.

Almost a quarter million Corvettes were built from 1997 to 2004. Available performance options were more limited than in Corvettes of the past, but there are a few special limited production models that collectors do pay attention to. A 1998 Indy 500 Pace Car Replica model, of which 1,163 were built, commemorated the 1998 Corvette convertible’s choice as the pace car for the Indianapolis 500. While collectible, the purple paint, yellow wheels and yellow interior are not to everyone’s liking. 2003 was the Corvette’s 50th anniversary, so there was a special model finished in Anniversary Red Metallic and adorned with 50th anniversary badges. In 2004, a special 24 Hours of Le Mans Commemorative Edition was offered for the C5 (including the Z06), and included Le Mans Blue Metallic paint with red and silver stripes, special badging, different wheels and a carbon fiber hood for the Z06 model. 2,025 of them were built.

C5s in general have been criticized for a cheap-feeling interior and some argue that the styling hasn’t aged particularly well, but as far as performance per dollar goes, a C5 Corvette is very hard to beat, whether it’s a stock version or a Z06. They’re rugged and reliable sports cars as well, although certain Z06s have suffered valve spring failure and all C5s can develop loose electrical grounds. GM also issued a recall for the steering column, which failed to unlock on some cars, but most have been fixed by now. Being the bargain performers that they are, many C5s and Z06s in particular have been driven hard and often at the track, autocross course, or just between the lights. As with any used performance car, then, it’s wise to be sure to examine maintenance records, check for crash damage and view any performance mods with a cautious eye.

Vehicle specifications

  • Wheel Base Shortest - Inches104.5
  • Wheel Base Longest - Inches104.5
  • Shipping Weight3214
  • Drive TypeRWD
  • Manufacturer NameGeneral Motors
  • Front Tire Size17R245
  • Manufacturer MSRP41680
  • Market SegmentationLuxury Sport
  • Vehicle Height47.7
  • Manufacturer CodeC137
  • Front Tire Size Code47

Equipment

  • StandardOptional
  • Transmission4 Speed Automatic6 Speed Manual
  • Power BrakesYes
  • Power SteeringYes
  • EntertainmentAM/FM CD
  • Air ConditioningYes
  • Power WindowsYes
  • Tilt Steering WheelYes
  • Roof DescriptionRemovable Panels
  • Anti-Lock BrakingAll Wheel
  • Restraint typeDual Front Air Bag/Active Belts
  • Electronic StabilityYes
  • Daytime Running LightsYes
  • Audible AlarmYes
  • Rear SuspensionIndependent
  • Security EquipmentPass Key

Equipment

Standard

  • Transmission4 Speed Automatic
  • Power BrakesYes
  • Power SteeringYes
  • EntertainmentAM/FM CD
  • Air ConditioningYes
  • Power WindowsYes
  • Tilt Steering WheelYes
  • Anti-Lock BrakingAll Wheel
  • Restraint typeDual Front Air Bag/Active Belts
  • Electronic StabilityYes
  • Daytime Running LightsYes
  • Audible AlarmYes
  • Rear SuspensionIndependent
  • Security EquipmentPass Key

Optional

  • Transmission6 Speed Manual
  • Roof DescriptionRemovable Panels
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Common Questions

The value of a 2002 Chevrolet Corvette can vary greatly depending on its condition, mileage, options, and history. Typically, you can expect to pay around $17,650 USD for a 2002 Chevrolet Corvette in good condition with average spec.

The highest selling price of a 2002 Chevrolet Corvette at auction over the last three years was $78,821 CAD. The highest prices are usually reserved for rare or exceptionally well-maintained examples with desirable features or modifications and excellent history.

The lowest selling price of a 2002 Chevrolet Corvette at auction over the last three years was $10,282 CAD. The lowest prices are usually paid for examples that have extensive maintenance needs, differ greatly from their original configuration, or have accident histories or title problems.

In the last three years there have been 55 2002 Chevrolet Corvettes sold at public auction.

The most recent auction sale of a 2002 Chevrolet Corvette was $32,032 CAD on February 18, 2025 by Bring a Trailer.

Many factors can increase a car's value including excellent condition, exceptional originality, a recent restoration, low mileage, unique provenance, desirable options, popular or unique color choices, and excellent maintenance records. Upgrades and modifications that enhance performance or aesthetics can also add value.

Factors that can decrease a car's value include unusually high mileage, poor maintenance history, visible wear and tear, accidents or damage, title issues, and gaps in ownership history. Additionally, less popular color choices and extensive modifications that don't appeal to a broad audience can reduce value.

Mileage plays a significant role in a classic car’s value. Lower mileage usually increases value because it indicates a higher degree of originality, is rarer, and suggests less wear and tear. However, cars with exceptionally low mileage may also have maintenance needs due to lack of use. Whether someone should pay more for a vehicle with lower miles will depend on how they plan on using it, and the vehicle's specific condition.

The value of modified cars differs widely based on the type and quality of modifications. While some modifications can significantly increase value, especially performance enhancements and high-quality custom work, others may not add much or could even detract from the car’s value if they appeal to only a limited audience.

All prices shown here are representative of stock condition vehicles only and based on various data sources, as detailed in About Our Prices. Value adjustments for optional equipment are in U.S. dollars. More information on how forecast models are calculated can be found on Forecasted Values page. For additional information and a complete description of benefits, visit hagerty.CA/legal. Purchase of insurance not required for membership in HDC. Hagerty, Hagerty Valuation Tools & Hagerty Drivers Club are registered trademarks of the Hagerty Group LLC, ©2025 The Hagerty Group, LLC. All Rights Reserved.