Corvettes on Craigslist: Needy 1978 Corvette L82 Indy 500 Pace Car

Apr 10, 2017

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Corvettes on Craigslist: Needy 1978 Corvette L82 Indy 500 Pace Car

We’re used to seeing 1978 Corvette Indy Pace Cars with just a few hundred miles on the clock, despite being nearly 40 years old now.

Those usually carry price tags in excess of $20,000, and we even found one with 2,712 miles where the dealer was asking $35,995.

No one seems to ever drive these beautiful black and silver cars the way Chevrolet intended them to be driven.

That’s why it is like a breath of fresh air to find this Pace Car on craigslist that has been enjoyed by its owners, covering 115,000 miles since the plastic wrap came off those lovely silver seats. Of course, that enjoyment shows in the wear and tear visible in the photos.

The selling price, however, reflects that condition as the Texas owner is asking just $7800, even though he adds “and not very negotiable.”

Needy 1978 Corvette Indy 500 Pace Car with L82 V8

The biggest problem with the car is the bad rod knock with the original 350 motor, but it’s worth noting that it is the more desirable L82 powerplant that would be worth restoring. On the other hand, this might be a good time to upgrade the engine and move up to a much more powerful option. Could you imagine a 650 horsepower Z06 engine in this ‘Vette?

The owner says the body is “very nice” and notes there is no damage, scrapes, stress marks, or cracks, with the doors, hood, and body panels all exhibiting a good fit.

This one would definitely have to be repainted, however, as the paint is thinning in places (most notably on the front spoiler) and there are tiny minor rock chips. The spoilers and urethane parts remain in good shape, however, with no warping or damage.

The interior is a gut job, with the door panels and seats in definite need of replacement.

The seller has only driven the car for a short distance but says he can tell the brakes, transmission, and exhaust “seem to operate fine.”

Still, he suggests the new owner trailer the car back home to avoid further damage to the engine.

We’d love to see someone give this car the love it deserves, and we have no doubt it would be a beauty once restored. Of course, all that love costs money, and with that said, it’s hard to see how someone could make a big profit on the car. For a keeper, though, a restoration might not put the new owner too far upside down.

What do you think? Would you like to see someone bring this Pace Car back to life? And how much would you be willing to pay?

Or would it be better just to cough up $35,995 now and buy a car with less than 3,000 miles on it? The problem with that is that you’d kill the value if you suddenly began driving it.

At least with this 115,000-mile example, you don’t have to worry about that.