Nijat1

Before any of you drop the Hammer, i currently have a 2005 C6 6M, Im 21 still live with my Parents, but i paid for my Corvette and currently maintaining it without any problems, i Make about 4k a month Currently on average and was wondering if i have enough income to replace it with a Zr1?, what are your thoughts guys?

BAAD LS2

no.

Nijat1

Fair enough, that was short, haha.

GMJim

Could you or should you is the question. You could if you can get financing that would allow you to make the payments but you would be paying much more than the car is worth just in interest by the time it's paid off. What good is a car like that if you can't afford insurance and gas, not to mention the possibility of expensive repairs if necessary. I'd wait a while and save your money. You could pick up a low mileage garage queen in a couple of years when you're in better financial shape.

patron1992

You should be striving for finical Independence first, but if you have good credit and a decent down payment you technically could. I'm 24 by the way and have contemplated trading me Z06 for a ZR1.

Nijat1

GmJim, can you tell me how much your zr1 cost you in the time you had it? I'm fully aware that the brakes of the zr1 alone cost 10k, and it has Carbon fiber body panels with an aluminum frame, fuel wise I don't care because before my c6 I paid off a 02 Land cruiser that I have and that Suv averages 12 mpg. Insurance wise I have geico and got a reasonable quote when I asked, and my dad pays for insurance. I'll stick to your advise about putting off the purchase until I'm in a better position, you're right about interest

Travlee

my thoughts, if you have to ask strangers if you can afford a car..... you prob cant

Nijat1

I understand, let me put it this way, i can get financing for it and pay it off, the question is whether I can maintain it? That's why I wanted to ask zr1 owners.

codyc24

If you live at home and have no bills, go for it. Prepare for $800-1200 payment a month depending on vehicle and interest rate. Wouldn't really consider a ZR-1 a daily driven car but if you still have something else to drive everyday then it would be fine. Something I have always been told growing up is, do not have a car payment more than you make in one week. No one here can tell you what you can/cannot buy, just think wisely about it.

KB9GKC

Hello,

After you have paid off a house, have investments and money in the bank with a good income, then buy a ZR1.

Douglas in Green Bay

Blue Devil 146

What he said!

dmaxx3500

put your money away,you'll need it 20-30 years from now

keeso6z

I was asking the same thing myself and I'm 60. At 21, I was lucky to have a VW Rabbit.

darth g-f

If I had a 21yo kid and he would bring home a ZR1 while still living under my roof, I'd send him on a nice drive... to find his own place.

Get your own place. Put money aside and if there is enough left, then you can buy extra luxury like a car whose 1st gear gets you to the speed limit and 3rd in jail.

With that said, it's your money.

GMJim

In the three years I've owned it, other than oil changes and regular maintenance I haven't spent any money on it because it was/is under warranty. I needed to replace both headlight units because the projector stands were broken. I-75 had some pretty deep pot holes on a trip to the Corvette museum. I'm told this is not unusual. The lights would have cost (Dealer) $1800.00 each plus installation but that would be for any C6 not just a ZR1. Brakes are supposed to last 60 times longer than regular brakes if you don't track it so unless the car you're looking at has been on the track you should be ok for a while. In my early years I always found a way to afford paying for any car I bought but they weren't this type of car and if I got into a bind I could sell it and not take a big loss. Don't know how the ZR1 market will be in the future and they could go in any direction. They made a little less than 5000 of these so there will be some around for a while. If you gotta have one get some financial advice and be smart. My advice would be If it's out of reach just wait. There will be deals later.

darth g-f

On the flip side, if you had a good line of credit, you could use it to buy the car. These cars depreciation is mostly done and it shouldn't cost much more than the interest rate to own these cars.

I sold my Porsche 996TT for 5k$ less than I paid for after 4 years of owership. The guy that bought it could sell it today for a 10k$ profit. Which means if I had held on to that car, I would sell it 5k$ more than I paid for after about 8years ago.

But the thing is, at 21yo, the chances that you have a 60k$ line of credit is pretty small, and there are tons more smart ways to use it. However, Corvette don't appreciate in value while some Porsche models do.

Be careful with your money.

Gary '09 C6

IMO, one should not spend the equivalent of one's annual income on a car purchase. OP, that appears to be what you are contemplating.

Douglas in Green Bay said it best...

BearZ06

Barring something unusual these cars don't have many problems. Maintenance is mostly gas, oil changes and tires. That being said you are very young and already have a nice car so as others have said I'd save my money. There are many things ahead in your life at some point; wedding, house, kids and the unexpected. I know that wasn't your question and only you know your complete financial situation, just think it through. You'll love the ZR1 if you get it.

spiralc5vette

Id say go for it if your parents are cool with it lol🤘🏻🤘🏻🤘🏻21 living with parents no major bills enjoy it while it last brody!!! say u get financed 6 years at most you will be 26 once you're done paying it if u need money sell it ...... and 4k a month for a 21 year old not bad im 28 and love my zr1 ps dont think about marriage yet😂

Bgreenard

Check with your insurance company when making your decision, the increase will be significant.