--- title: "Risky Buy of the Day: Highest-Mileage Panoz AIV Roadster in the World" description: "This 1997 Panoz AIV Roadster for sale is probably the highest-mileage example anywhere and needs a new loving home." date: "2024-03-07" modified: "2024-03-07" authors: - name: "Nico DeMattia" job_title: "Contributing Writer" link: "https://www.thedrive.com/authors/nico-demattia" url: "https://www.thedrive.com/news/prior-owners-put-134000-miles-on-this-panoz-aiv-roadster-now-its-your-turn" categories: - "Culture" - "For Sale" - "News" --- # Risky Buy of the Day: Highest-Mileage Panoz AIV Roadster in the World ![]() *\Allan Schrag, Facebook Marketplace, The Drive\* When was the last time you thought about Panoz? As for me, I wrote about a [Panoz Esperante]() a few weeks ago, but the boutique American racing team and sports car brand hasn't exactly been at the forefront of automotive headlines in decades. However, that doesn't mean there aren't a few faithful Panoz fans willing to buy and own some of its more exciting sports cars. If you're one of them, or you want to be, this 1997 [Panoz]() AIV Roadster could use a new loving home. Allan Schrag has owned the ultra-rare 1997 Panoz since June 1, 2021 and, rather than keep it as a garage queen, he's driven it regularly. "I have used it as an occasional Sunday driver," he told *The Drive*. Schrag is the third owner and it currently lives its third state. It started out life in Phoenix, Arizona, then moved to Houston, Texas, and it's now in Wichita, Kansas. In other words, it's resided mostly in drier, warmer climates, and it shows. There's no rust to be seen in any of the photos on the [Facebook Marketplace listing](), and the car seems to be in excellent condition, especially considering its 134,000 miles. Since most Roadsters for sale have less than 10,000 miles, this is easily the most well-used example we've ever seen. ![]() **Allan Schrag** What is the Panoz Roadster? Aside from looking like a [Plymouth Prowler]() for people who actually enjoy driving, the Roadster was the first sports car from Panoz in 1992. However, for the 1996 model year, Panoz updated the Roadster with an aluminum chassis, which is where the "AIV" (Aluminum Intensive Vehicle) part comes from. Along with that updated aluminum chassis also came a new 4.6-liter V8 from the 1996 [Mustang SVT Cobra]() (which replaced the old 4.9-liter Mustang V8) and it made 305 horsepower. Paired to that V8 was a five-speed manual, which drove only the rear wheels. Only 176 Panoz AIV Roadsters were sold to the public, naturally making each one quite desirable. That rarity might make sourcing parts difficult and expensive when issues inevitably arise. And while Schrag said that it hasn't cost him anything during his time with it, it's still a 134,000-mile car from 1997. Issues are bound to pop up at some point. Engine parts won't be hard to find, since it uses a Mustang V8, but components unique to the car will be tougher. ![]() ![]() ![]() The current asking price on the Roadster is $25,500, which is well under the $44,000 average, according to *[Classic.com]()*. That low price may be a reflection of its mileage, as it's traveled about 10 times the distance of your run-of-the-mill (if there is such a thing) Panoz AIV Roadster. However, I'd argue that keeping a purpose-first car like this as a garage queen would miss the point. So depending on its condition and what you want to do with it, this Roadster could be an ideal addition to your stable. More importantly than that, though, it's an open-wheeled, V8-powered, rear-wheel-drive sports car with a manual transmission that's only an inch longer than an Mk8 [Volkswagen GTI](). That sells itself. *Got tips? Send 'em to tips@thedrive.com* ## Author Nico is a writer and reviewer from New Jersey who probably thinks he’s a lot funnier than he actually is. His love of cars began when he was just a kid playing Gran Turismo 3, grinding out enough race wins with a Mazda Miata to save up for an in-game RUF 911. That passion for small, lightweight sports cars drove his desire to learn more about the industry, get his hands on as many cars as he could, and bring those experiences to life on the page. He cut his teeth writing about BMWs, Volkswagens, and Audis, mostly, and has owned far too many of each. He’s on his fourth 3 Series sedan, but all of his old, cheap German cars have forced him to learn more about car maintenance than his mechanical capability can handle. Too many late nights have been spent scrambling to get a car running by morning so he could get to work. For some reason, he never seems to learn that old Bimmers probably aren’t the best daily drivers. But he loves more than just old German cars. He’ll gladly drive and discuss anything with four (or even three) wheels. Cars aren’t his only passions, though. Nico is also a big nerd and loves movies, video games, comic books, and cares far too much about the New York Giants. So don’t be surprised if you see football references or dumb, obscure movie quotes in any of his car reviews. ### Author social links [Instagram]() [LinkedIn]()