Maybe, just maybe...
Thread Starter
Drifting
Joined: Feb 2001
Posts: 1,413
Likes: 0
From: NJ
St. Jude Contributor
Maybe, just maybe...
Here is my math for a new vette for the summer.
current Savings: 9500
Estimated Earnings Until Semester Ends: 600
Estimated Summer Earnings (after taxes): 4350
Total: $14,450
Costs of New Car
purchase Price: 10,000
Yearly Insurace: 1,300
Gas Money: 1,000
Maintainence: 1,000
Total: 13,300
Margin for Change in Income:$1150
Good Idea? Bad Idea?
Granted Some of the Total Cost of Car would not be upfront (gas, maintainence, insurance). So should i bother pitching this to my parents or should i save my breath?
:leaving:
current Savings: 9500
Estimated Earnings Until Semester Ends: 600
Estimated Summer Earnings (after taxes): 4350
Total: $14,450
Costs of New Car
purchase Price: 10,000
Yearly Insurace: 1,300
Gas Money: 1,000
Maintainence: 1,000
Total: 13,300
Margin for Change in Income:$1150
Good Idea? Bad Idea?
Granted Some of the Total Cost of Car would not be upfront (gas, maintainence, insurance). So should i bother pitching this to my parents or should i save my breath?
:leaving:
Le Mans Master
Joined: Oct 2001
Posts: 5,302
Likes: 2
From: Atlanta GA
Re: Maybe, just maybe... (flyinace2000)
I'd get something cheaper, and save $$$ for a rainy day if you don't plan on working after summer is over. Only allotting $1000 for maintenance is like allotting yourself $20 at a strip club - noble thought, but it will never work.
Good luck in whatever you decide to do! :cheers:
Good luck in whatever you decide to do! :cheers:
Bench Racer
Joined: Feb 2003
Posts: 4,201
Likes: 15
From: Palm Beach Gardens FL
St. Jude '03 thru 14,'25
Re: Maybe, just maybe... (flyinace2000)
Your math looks good and your timing is impeccable. Corvette summer will be over and the C6 will be out driving down the C5 market which will pull the C4s down with them. There should be some great deals out there...
Thread Starter
Drifting
Joined: Feb 2001
Posts: 1,413
Likes: 0
From: NJ
St. Jude Contributor
Re: Maybe, just maybe... (CentralCoaster)
What about living expenses?
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Thread Starter
Drifting
Joined: Feb 2001
Posts: 1,413
Likes: 0
From: NJ
St. Jude Contributor
Re: Maybe, just maybe... (dtorc4)
I'd get something cheaper, and save $$$ for a rainy day if you don't plan on working after summer is over. Only allotting $1000 for maintenance is like allotting yourself $20 at a strip club - noble thought, but it will never work.
Good luck in whatever you decide to do! :cheers:
Good luck in whatever you decide to do! :cheers:
Team Owner
Joined: May 2002
Posts: 24,337
Likes: 25
From: San Diego , CA Double Yellow DirtBags 1985..Z51..6-speed
Re: Maybe, just maybe... (flyinace2000)
Why don't you set some money aside and buy a fat toolset. Money spent on tools is NEVER wasted. Money spent on cars.. well... that all depends what you consider a waste! :lol:
Le Mans Master
Joined: Jan 2002
Posts: 5,320
Likes: 4
From: Kyle TX (Because Mojo Made me fill it in)
Re: Maybe, just maybe... (flyinace2000)
Does the price of the car include taxes and registration fees?
Estimating your gas expenses $1000 would get you nearly 570 gallons of gas at $1.75/gallon. If you AVERAGED 20 miles/gallon, you would be able to drive the car about 11,400 miles on $1000 a year.
I would probably bump the budget for maintenance from $1000 to $1500 and drop the gas budget from $1000 to $500. If you are a student and do not chauffer people around 5700 miles a year may get you by.
You can control how much you drive. You can't control when stuff breaks. Also, what will you do with for next year's budget? We dont want you to have to sell it again because you dont have a budget to own/drive your car next year.
Good luck with whatever you decide to do.
Estimating your gas expenses $1000 would get you nearly 570 gallons of gas at $1.75/gallon. If you AVERAGED 20 miles/gallon, you would be able to drive the car about 11,400 miles on $1000 a year.
I would probably bump the budget for maintenance from $1000 to $1500 and drop the gas budget from $1000 to $500. If you are a student and do not chauffer people around 5700 miles a year may get you by.
You can control how much you drive. You can't control when stuff breaks. Also, what will you do with for next year's budget? We dont want you to have to sell it again because you dont have a budget to own/drive your car next year.
Good luck with whatever you decide to do.
Thread Starter
Drifting
Joined: Feb 2001
Posts: 1,413
Likes: 0
From: NJ
St. Jude Contributor
Re: Maybe, just maybe... (VetteNoob)
I do work during the semester and my current budget does not include money i would make from an internship this summer (2 days a week). As for next year...I am pretty good about finding jobs. And i don't see my current ones dissapearing. My main concern is for after graduation so i have 2000 saved again for a trip to Italy with my girlfriend. (May 2006)
Melting Slicks
Joined: Mar 2004
Posts: 3,242
Likes: 0
From: Aledo/Waco Tx
Re: Maybe, just maybe... (flyinace2000)
Dude...go for it. I'm saving up myself in order to get a C4 at the end of the summer, before I go off to college...I figure it'll be good timing cause thats about when the C6 will be coming out.
Same GF in 2 years.....hope you meant sophmore in college...
Same GF in 2 years.....hope you meant sophmore in college...
Le Mans Master
Joined: Oct 2003
Posts: 7,625
Likes: 4
From: Director of Bands
St. Jude Donor '08
Re: Maybe, just maybe... (flyinace2000)
What about living expenses?
I am a Sophmore (to be junior in Septmeber) living at home. I don't have any other living expenses besides my cell phone ($40/month).
I am a Sophmore (to be junior in Septmeber) living at home. I don't have any other living expenses besides my cell phone ($40/month).
Instructor
Joined: Nov 2003
Posts: 108
Likes: 0
From: Fishers IN
Re: Maybe, just maybe... (flyinace2000)
Here is my math for a new vette for the summer.
current Savings: 9500
Estimated Earnings Until Semester Ends: 600
Estimated Summer Earnings (after taxes): 4350
Total: $14,450
Costs of New Car
purchase Price: 10,000
Yearly Insurace: 1,300
Gas Money: 1,000
Maintainence: 1,000
Total: 13,300
Margin for Change in Income:$1150
Good Idea? Bad Idea?
Granted Some of the Total Cost of Car would not be upfront (gas, maintainence, insurance). So should i bother pitching this to my parents or should i save my breath?
:leaving:
current Savings: 9500
Estimated Earnings Until Semester Ends: 600
Estimated Summer Earnings (after taxes): 4350
Total: $14,450
Costs of New Car
purchase Price: 10,000
Yearly Insurace: 1,300
Gas Money: 1,000
Maintainence: 1,000
Total: 13,300
Margin for Change in Income:$1150
Good Idea? Bad Idea?
Granted Some of the Total Cost of Car would not be upfront (gas, maintainence, insurance). So should i bother pitching this to my parents or should i save my breath?
:leaving:
