Finance & Business

Aug 19 2021

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1978 Chevrolet Corvette Indy Pace Car with 13.6 Miles – Rare Finds

“When I opened the storage door and saw this Vette, I couldn’t believe my eyes.” Bud Schoenleden thought he was making the trip from his Chevy dealership in St. Marys, Ohio, to Detroit “as a courtesy for this guy I used to know. I had no idea what I was about to find.” At first glance, Schoenleden thought the ’78 Indy Pace Car was “an absolute mess.” A thick layer of dust covered the paint. There was no car cover, just boxes and odds and ends on top and to the sides of the T-top Vette. All four tires were flat. But, when Bud popped the latch to the driver-side door he noticed plastic on seats and steering wheel. Same as how the car came delivered from the factory. The mileage was nowhere what he thought, either. When his friend said low miles Bud Schoenleden figured there would be maybe 5 or 10,000 miles on the odometer, but he was in for a shock. Peeking beneath the steering wheel, Bud eyeballed zeroes on the far left followed by 13.6. About that time, he got a big whiff of a fragrance all too dear to a Chevrolet dealer—that new-car smell. Bud said, “The car hadn’t seen the light of day for 16 years.”

Here’s the view Bud saw from inside the storage building.

His friend bought the car brand new as an investment. He stored the car in a building in Detroit in 1995. That’s when he sold his house and moved into an apartment. “He never drove it, just kept it, put it away, and thought it would be worth a lot of money someday.” Schoenleden could identify with the reasons why. His mind drifted back to 1977 when Chevrolet introduced the Indy Pace Car. Suddenly, the Corvette moved into the collector car ranks. The Wall Street Journal and other trade magazines wrote articles on the Corvette. The 1978 pace car, with a base sticker price of $13,653.21 jumped to $25,000 and even higher on the open market, often selling for double sticker plus. Bud’s friend wasn’t the only one who purchased a new Indy Pace Car to set aside. Bud did as well. “Back in 1978 I worked at a factory and I fell in love with this car the moment it came out. I had to have it. I bought one and I paid double window sticker for the car.” Bud thought he was going to make a ton of money on his purchase. But, he was wrong. He held the ’78 for a year, paying high interest rates because he borrowed the money, and sold the Vette at a $10,000 loss.

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At first glance, Schoenleden thought the 1978 Chevrolet Corvette Indy Pace Car was "an absolute mess." "When I opened the door…I couldn’t believe my eyes."

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SOURCE:

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http://www.superchevy.com/features/1412-1978-chevrolet-corvette-indy-pace-car-with-13-6-miles-rare-finds/ Indy car plastic model kits

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