fredl11

picked up a new C7 with R8C Museum Delivery!

Red w/Blk rims

shaan

Zymurgy

See it where?

Waytofastvette2006

Screw Ramsey

I called his show like 5 years ago asking him it I should buy a c6 even though I had the cash. Granted I only made like 40k a year back then. He told me the car was to much money into one vehicle with my income.

I bought the corvette I wanted six months later. Now I'm getting a new c7 ! Granted maybe I shouldn't have purchased that c6 but the most fun choices in life usually are not the smartest ! I do make a lot more money then back then as well.

I do like Dave though he should be proud of me the c7 is being paid for in full up front !

fredl11

in my National Corvette Museum E-news email today

Also just saw it here: http://www.corvetteblogger.com/2014/...rvette-museum/

TX Navy Vet

who?

budgreen3564

Financial advisor on talk radio

JoesC5

Dave's not a spring chicken. See what he had to say about paying for it. I'm sure he takes his own financial advice. I wonder how many spring chickens could purchase one if they took Dave's advice?

Skid Row Joe

Based on your Q, if you were to also have told Dave that you had; A) No debt, and B) You were worth $1 Million+ in net worth, then you'd be OK buying a new (not used) car paying cash for it.

What Dave's advice on cars is that the total of ALL your vehicles' paid for value should not exceed 1/2 your annual income. IF I recall his consistent advice correctly, then in his expert opinion, your total vehicles paid for, shouldn't exceed $20,000.00.

IMO, if your net worth with no debt whatsoever eclipsed $1 Mil. I say go for it, IF you are paying CASH - regardless your income. You've done a good enough job to buy new and what you want, if you were that exceptional with $.

Dave gives great advice to mostly clueless ppl when it comes to their financial scr#w-ups they've made.

ATX-C7

Don't know this guy--but congrats to him.

John Ulrich

Joe hit it on the head. My Financial people don't like a lot of his ideas but I sleep a lot better with no debt. I'm disappointed XM dropped him and Clear channel over Clear Channel selling off XM stock

Jefff1

Our daughter worked for him for the past 6 years and only left this fall when she and her husband moved to Chicago...He's a really decent guy to work for and his books and programs have helped many us lead a debt free life...

Waytofastvette2006

See I agree ( mostly ) I hate debt and have none actually. I make more than I used to But I'm way way short of having a mill in net worth.

So this means I shouldn't buy a new c7 ? I'm 30 at the moment were thinking about having kids soon. The way I look at it this is my chance to get my first actual brand new vehicle. Somehow I feel like when kids get injected into the picture getting a toy like the c7 will be out of the picture.

His info for the masses is good though. To me it just seems depressing to think I can't purchase a new vehicle that I've worked very hard to be able to afford until I have a net worth of a million

FOOTR 1

Way to go Dave! My wife and I listen to Dave all the time. I'm only sorry I missed picking mine up on the same day by 3. Gotta love a debt free barefoot water skier that drives a Corvette. Congrats on the new ride! Life's good!

thatonedude1

Dave has some good advice, but is very generic and often a little off the mark. Very few people have a million $ saved, especially when 30 yrs old. So that's not the test.

Decide for yourself if you can afford it. Ask yourself a few questions that might give you a clue. Do you have a high income? Is your income increasing quickly? Is your job stable? Does your wife have a decent stable job? Do you have enough money to pay cash for it, or most of it? Can you pay cash for half and still have 4-6 months of cash left for emergencies? Do you have other major expenses coming up like new roof, kitchen, new wife's car, etc? Are you saving in a 401k? Can you keep that up? Answer these and similar questions and you will have the vette answer.

Hebstar11

Congratulations! Although I am getting black this time, "All Corvettes are red."

Skid Row Joe

When I was 25 years old, I had zero debt and lived in an apartment. I took 1/2 my net worth ($11K) and paid cash for a new C3 Corvette. The new Corvette was not my DD, I had an old POS Cadillac I drove for work on-the-road.

Could I afford the new Corvette? Obviously, yes, but what that did was risk 50% of my net worth on a silly car, even though it was paid for in full, in-cash.

Today, I'm in my 60s, no debt, home 100% paid for 15 years ago, substantial net worth, and considering my 2nd new Corvette after 38 years since buying my 1st one. Am I a fool? Yeah, I guess I am, but I like you want one.

What you AND I need to keep in mind is that the more we spend on toys (like a C7) even for cash, the less cushion we have in cash reserves. It increases your risk insofar as it diminishes your liquid assets. Only you and your spouse can weigh out the odds on how far you want to be into spending on play toys like the new Corvette, versus socking it away investing in the stock market or income producing real estate instead......

After paying cash for the C3 in 1976, I sold it 2.5 years later, and plowed it back into the stock market - where it has grown many times over and remains today - more than enough to pay cash for another new Corvette.

onthebottom

My 7th grader had a personal finance and economics class and Dave was featured prominently. 95% of the program was excellent (love it when my son comes home and says he wants a money market account) - there were a couple of odd / aggressive sections (women and men view money differently - lotteries are taxes on people who can't do math) but then again I agreed with them.

I'm buying my first Corvette, my first two door actually and my first toy car. I'm early 50s, I have the mil in the bank and make a 1% income so I've been able to afford a toy for a long time. That said, I have a kid in University, have a wedding to save for (someday not too soon I hope) and another guy to put through school.

It's all choices and tradeoffs.

Bob-G

Well, if Dave Ramsey bought one, then it must be a good value.

Skid Row Joe

As long as the guy's net worth exceeds $1 Million, he has NO debt, AND is paying CASH for the new Corvette......I don't care if he's unemployed or in jail......he's demonstrated exceptional skills and habits with $ to have become a debt-free millionaire......if he wants a new Corvette that badly, I say go fer it!