Did you pay cash for your C4 or make payments?
05-02-2016, 06:19 PM
#41
Team Owner
Member Since: Oct 2004
Location: altered state
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St. Jude Donor '05
Always paid cash, have considered getting a small loan as moneys cheap to borrow and can pay it off early.
Everyones situation is unique to their circumstances
If all it took to get into one was 1-200 a mo why not if the price is right
Gone are the days where income was easy for a lot of us so look at things differently. I could care less if the cars appreciate or not in fact when buying a car it NEVER registers they are all money pits. If I want it Im getting it period. Would I overextend myself for one no
Lifes short.
Everyones situation is unique to their circumstances
If all it took to get into one was 1-200 a mo why not if the price is right
Gone are the days where income was easy for a lot of us so look at things differently. I could care less if the cars appreciate or not in fact when buying a car it NEVER registers they are all money pits. If I want it Im getting it period. Would I overextend myself for one no
Lifes short.
05-02-2016, 06:44 PM
#42
05-02-2016, 08:54 PM
#43
Race Director
Paid cash in full at the time of purchase (private party).
Seems odd to make payments on a used car... I can think of lots of things to do with my money other than paying interest.
Also, if a person needs financing buy their only car, why would they buy a Corvette? They are so impractical.
At least a Camaro has a back seat, and a trunk.
Seems odd to make payments on a used car... I can think of lots of things to do with my money other than paying interest.
Also, if a person needs financing buy their only car, why would they buy a Corvette? They are so impractical.
At least a Camaro has a back seat, and a trunk.
05-02-2016, 11:10 PM
#44
Safety Car
Member Since: Mar 2005
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2023 C4 of the Year Finalist- Modified
Finalist 2020 C4 of the Year - Modified
C4 of Year Finalist (performance mods) 2019
2018 C4 of Year Finalist
We paid cash for our ZR-1 in 2012.
There's nothing wrong with either method (cash or credit), as long as you can afford it.
There's nothing wrong with either method (cash or credit), as long as you can afford it.
05-03-2016, 10:05 AM
#45
Race Director
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If you borrow money to buy a toy, you can't afford it.
Most Corvettes are toys.
I guess that could be expanded to; if you have to make payments, you can't afford it. On anything.
Most Corvettes are toys.
I guess that could be expanded to; if you have to make payments, you can't afford it. On anything.
05-03-2016, 10:14 AM
#46
Burning Brakes
Bought my 1994 in 2012. Didn't have $21k lying in the bank and could not pass up the deal on the car. Had to get an appraisal done on the car so the bank would even consider financing the car. When the appraisal came back more than the selling price the bank signed off on the loan and I got my dream car. NO REGRETS on financing this toy!
05-03-2016, 10:17 AM
#47
Paid cash for mine (10 Grand) but when I can use someone else money when it doesn't pay to use mine its a no brain situation toy or not.
05-03-2016, 10:19 AM
#48
Melting Slicks
05-03-2016, 10:44 AM
#49
Pro
This should sound familiar to some:
“We buy things we don't need with money we don't have to impress people we don't like.”
It's just a different philosophy relating to money and consumerism that DOES NOT APPLY TO ALL. Every situation is different.
Last edited by steve1657; 05-03-2016 at 10:45 AM.
05-03-2016, 02:24 PM
#50
Pay cash for everything. If you have to put it on credit you can not afford it. Only exception being 15 year mortgage and even then should try to keep it less than 30% of net take home. Don't indebt yourself to anyone. Save save save then pay cash, you will really think about the spend.
05-03-2016, 02:56 PM
#51
Race Director
the 1990 I bought has always been a fun car/toy
05-03-2016, 03:28 PM
#52
Melting Slicks
I'm with you man. I guess we suck and also can't follow directions since we didn't adhere to the proper "rubric".
05-03-2016, 06:50 PM
#54
Many C4 owners consider it simply a toy and live by the motto that if it is a toy you can live without it. But here is the thing many people just do not have a large amount of cash laying around and many use their vettes as daily drivers so again each situation is unique.
I do not fault someone who would rather drive a vette every day over an average car so if you would have to make payments to drive a Kia then why not drive a used vette and enjoy the drive.
Another scenario is you are looking at a high mileage C4 that needs a ton of work but you can pay cash for it and then you will be paying every month after you purchase it to try and get it in good condition or you can take out a small loan to buy a much nicer C4 and not have to dump time and money into the car every month trying to get it in decent condition. Not sure the cash buyer of the beater C4 in this scenario made the best decision.
Point is each situation is unique and we all have to live with our decisions so hopefully we will make good decisions with our time and money no matter what situation we are in.
Easy for someone to say pay off your house in 10 years when they live in the middle of Oklahoma and the average house price is say $85K but when you live in southern Calif. and the average house price is now say $300K + not so easy to pay it off in 10 years.
05-04-2016, 07:14 AM
#56
Instructor
Nobody sucks. Each situation is unique. For some to make blanket statements like " if you cannot pay cash you cannot afford it " is silly IMO.
Many C4 owners consider it simply a toy and live by the motto that if it is a toy you can live without it. But here is the thing many people just do not have a large amount of cash laying around and many use their vettes as daily drivers so again each situation is unique.
I do not fault someone who would rather drive a vette every day over an average car so if you would have to make payments to drive a Kia then why not drive a used vette and enjoy the drive.
Another scenario is you are looking at a high mileage C4 that needs a ton of work but you can pay cash for it and then you will be paying every month after you purchase it to try and get it in good condition or you can take out a small loan to buy a much nicer C4 and not have to dump time and money into the car every month trying to get it in decent condition. Not sure the cash buyer of the beater C4 in this scenario made the best decision.
Point is each situation is unique and we all have to live with our decisions so hopefully we will make good decisions with our time and money no matter what situation we are in.
Easy for someone to say pay off your house in 10 years when they live in the middle of Oklahoma and the average house price is say $85K but when you live in southern Calif. and the average house price is now say $300K + not so easy to pay it off in 10 years.
Many C4 owners consider it simply a toy and live by the motto that if it is a toy you can live without it. But here is the thing many people just do not have a large amount of cash laying around and many use their vettes as daily drivers so again each situation is unique.
I do not fault someone who would rather drive a vette every day over an average car so if you would have to make payments to drive a Kia then why not drive a used vette and enjoy the drive.
Another scenario is you are looking at a high mileage C4 that needs a ton of work but you can pay cash for it and then you will be paying every month after you purchase it to try and get it in good condition or you can take out a small loan to buy a much nicer C4 and not have to dump time and money into the car every month trying to get it in decent condition. Not sure the cash buyer of the beater C4 in this scenario made the best decision.
Point is each situation is unique and we all have to live with our decisions so hopefully we will make good decisions with our time and money no matter what situation we are in.
Easy for someone to say pay off your house in 10 years when they live in the middle of Oklahoma and the average house price is say $85K but when you live in southern Calif. and the average house price is now say $300K + not so easy to pay it off in 10 years.
Well said, Sir!
