At $47,000, Would You Lighten Your Wallet For This 2007 Chevy Corvette Z06?

The seller of today's Nice Price or No Dice Corvette Z06 describes the special lightened model as "Mint condition" and "tastefully upgraded." Let's see if this absolute legend of a car can command some heavy cash.

There is no more iconoclastic American fighter plane from the Second World War than the P-51 Mustang. What makes that all the more surprising is that the plane was originally commissioned by the British for use by the Royal Air Force. The Brits also gave the P-51 its noble nickname, the Mustang, because the fighter had the same sense of speed and agility as the wild American equine.

Two decades after the P-51 first plied the skies, Ford adopted the Mustang name for its new sporty car model, creating the "pony car" category in the process. While the Mustang used a galloping horse motif for its badging and mascot, Ford execs said the goal was for the car to embody the spirit and nature of the P-51 fighter.

We looked at a Mustang on Wednesday, a 2012 GT with a Coyote V8 and handling mods by Jack Roush Performance. At first glance, that 'Stang had lots going for it. A little digging, however, turned up a recent unsuccessful Bring a Trailer auction that noted some dings (albeit repaired) on the car's Carfax report. Based on that added info, the Roush-massaged GT's $23,950 asking price lost its shine. When all was said and done, that sent the 'Stang packing with a 78% 'No Dice' loss.

While not direct competitors, the Mustang has long played a similar halo-car role for Ford as the Corvette has for crosstown rival Chevrolet. Of course, the Corvette had a decade's head start on the Mustang and has always been more focused in its role than the broader-appealing Ford. Over the years, both cars have forged rivalries on the race track, often going fender to fender in search of that elusive checkered flag.

The 2007 Chevy Corvette Z06 that comes our way today is a street car homologated for racing, lightened throughout, and fitted with the biggest, most powerful engine Chevy could cram into it at the time.

This model doesn't just pay lip service to the goal of eking out the best power-to-weight ratio from the C6 platform; it goes all in. Those efforts included replacing the Corvette's steel chassis with an aluminum one, ditching the standard floorboards for balsa wood/carbon fiber composites, and adding a magnesium front subframe. To stiffen things up and drop a couple more pounds, the Z06's roof is fixed in place and not removable. Even with its wider, wilder bodywork and massive 7.0-liter engine, the Z06 is still almost 70 pounds lighter.

When new, the Z06's 7.0-liter V8, dubbed LS7 by General Motors' product coders, was the highest-output naturally aspirated engine in the company's lineup. It was also GM's largest-displacement small block ever. In the Z06, the hand-built mill reportedly produced 505 horsepower and 470 pound-feet of torque. This 63,600-mile Z06, in Velocity Yellow with a black leather interior, has a dyno run record in that ballpark.

The dyno was done right after the engine's heads were rebuilt when the car had 45K on the clock. Behind the 7.0-liter engine—way behind, as the C6 is a rear-mounted transaxle car—is a six-speed T-56 manual paired with a limited-slip differential. The ad doesn't say how the car currently runs or drives, but based on the description, the seller assumes we expect it to be in tip-top condition. We'll get to the supporting evidence of that in a sec. We are told that the car comes with a clean title and a Carfax history showing no accidents. Amazingly, this Z06 has already had five owners despite being less than 20 years old.

The present owner notes in the ad a number of updates and changes to the car, all of which they describe as "tasteful." Those include a set of aftermarket alloy wheels that look a bit more generic than the factory rollers. On the plus side, they are wrapped in aggressive Continental meats with less than 3K on them. Other updates include sway bar and end-link upgrades, Stoptech rotors and calipers, Bilstein shocks built by Doug Rippie Motorsport, and a valved exhaust because, naturally, we never matured past 12 years old.

The car appears to be in excellent condition, with PPF on the nose, headlamps, and mirror housings doing its job keeping stone chips and cicada guts from marring the paint. The wheels, though perhaps not optimal, are admittedly free of curb encounters.

Craigslist

The cabin is equally inviting, featuring solid leather on the two seats and an aftermarket Alcantara steering wheel for the driver's grubby mitts. This car has the 2LZ package, which adds a head-up display, Bose stereo, and heated seats, providing swank to the Z06's performance bona fides.

According to the seller, they've documented all the car's upgrades in an Excel file since 2015. Nerd alert! Honestly, that's actually a good thing, as is the stack of repair and maintenance receipts and manuals that will accompany the car in the sale.

For that sale to happen, prospective buyers should show up ready to spend $47,000, since that's the seller's asking price. Unlike yesterday's Roush Mustang, which was aspirationally priced, quick research shows $47K is on the low end for a Z06 in this condition. To be fair, there don't seem to be any fright-pig Z06s out there, so getting a cheap one needing repairs seems out of the question.

With that in mind, what's your take on this lightweight heavyweight Corvette and that $47,000 asking price? Does that feel fair given the car's presentation? Or do the aftermarket mods mean it should be priced lower?

You decide!

Los Angeles, California, Craigslist, or go here if the ad disappears.

Hat tip to FauxShizzle for the hookup!

Help me out with Nice Price or No Dice. Hit me up at robemslie@gmail.com and send a fixed-price tip. Remember to include your commenter handle.