I have wanted a vette for a long time... and since I am starting to save up I have been wondering when the right time to buy is....

the corvettes around here... well basically.... www.texascorvette.net

and I want to be able to get a 2000ish FRC or Z06. I'm not really a big fan of the coupe due to they have a hatch... I had a camaro and I didn't like the hatch back.. I want a truck.

The guy at classic cars (site above) said that if I would trade in my truck that day he could gets the payments down to $375 a month for 5 years on a 98 couple with 63k miles and not alot of extras....

But I need something to get me around in the winter snow, rain, hail, etc.



So really my question is.... How much would I have to pay down on a corvette to get it... and what kind of corvette could I get?

Financed (not the best credit)
payments not more than $400 a month
FRC or Z06
around 2000ish
not more than 40k miles.


Thanks in advance.

 

Ok, you didn't ask and you may not "thank me" but here goes...

Keep driving the truck...

Why? You need to save more money, improve your credit some more, etc.

Buying the Vette will cost you more money than you can really afford even if you DON't mod it... what will you do when it breaks down and you need to spend $2,500 to repair it?? (Heaven forbid!!) And driving it in the rain, sleet, snow, etc? I personally think the Vette is a special occassion car and NOT a dd... That's just my opinion though... of course, it is the right opinion!!

Good luck... Money in the bank and good credit is a very good thing. If you don't have one or both it only gets tougher if you don't keep trying to improve them as you go!!

You can still buy a vette.. just wait a bit longer...

 

Sounds like good advise!

 

The truck is my dd its lifted and gets around 9 MPG in the city... I want to buy a corvette while I can afford it.. when I get older I will have alot more to worry about... and there are so many people telling me that I will never own a vette and I am stupid for even trying...

I see what your saying... but if I don't do this I will regret it for the rest of my life.

 

 

 

Regret not buying one for the rest of your life?? I've got one, now I will NEVER not have one again!!

It's hard to see it now but buying a 'vette will not make you into something you are not now.. know what I mean?

OK, so if you just have to get one to show that you can, even though you pretty much admitted you shouldn't, why not buy a C4 or something a bit cheaper.. Keep the truck for your DD and you'll have the best of both worlds...

Obviously I'm speaking to you like a dad here... and I hope you take no offense, ok? I'd guess we may be close to the ages of father and son...I'm 42, and I have two kids that are 20 and 23... though you're likely a few years older then them... does it ever get easier?? It does if you work at it... Spending all of your money now will not make it easier later... However, saving a few bucks now may indeed make it easier later..

Make sense to you?? You seem like a smart guy... Congrats on saving a few bucks... just don't stop now.. you are on the right track.

Keeping looking for a deal on a cheaper Vette, keep your truck and feel proud of that bank account and better credit!!

Good luck!!

 

My dad is 50... and I am a little bit younger than your kids....

I have been a corvette fan since I was a kid. I am taking college classes that my parents are kindly taking care of the bills for me.

I know owning a vette isn't the best finacial decision... since the value doesn't go up.
My dad being 50 he is accually wanting me to get the vette (so he doesn't have to buy one) and he will help me out any way need be... But being a car guy since I was very young... I enjoy cars so much that when I sell a car, its like a piece of me leaves with the car.

When I get out of college I will have a house payment living expenses and maybe a kid and a wife to take care of.... and there will be no way to get a vette then.. thats why you see older guys driving them.


its really hard to explain, but its something I have to do, its just a feeling...

Thanks for your input.


EDIT: I'm not buying a corvette to show off, make me something im not, or even to pick up gold diggers (joking).

Owning a corvette will bring me joy and give me something to do with what spare time I have.... like I said before its hard to explain.

 

Ok, cool that your dad is involved... I was going to ask that earlier.... If you had consulted him...

I'd get him to pop for part of the deal... tell him he can drive it... smile...

Thanks for putting up with my ... since you did so graciously, I knew you had your head screwed on straight...

Good luck and let us know how you end up.. Seriously!!

BTW.. My wife bought the vette we have... Her third one!!

I don't need it to show off either...I wear size 15 shoes and my hands measure 11 inches from thumb to little finger...

 

Yea, I have been planning on buying a vette for a little under a year. He's going to help with the downpayment if he needs to.

I will let you guys know what I end up doing.... Since there aren't very good deals here where I live I am thinking about going to dallas to buy mine.

VRROOOM2.. Thanks for the advice.. its the nicest I have heard someone try to talk me out of a vette. I have no need to show off... my shoe size is 14 I haven't measured my fingers yet

If any one could link me to a site located in dallas that sells corvettes with some good deals.

Thanks again.

There are a few corvette/car shows here... and being able to take my corvette to one will awsome, and there is one coming up to help out our hospital here... Kars for Kids is what its called... sadly I won't have a corvette at the time... but hopefully next year.

 

ok, if you really going to buy one now - congrats on trying to think this through in advance - many people don't. keep up this approach and you'll be allright financially.

Having said that, I think you're approaching this from the wrong end. your fist step should be shopping around for a loan. concentrate on lowest APR you can find. talk to banks and credit unions. don't just talk to a couple, try to get in touch with as many as you can and get quotes for different loan time/$ amout options. it's a competetive market and you should try to get as low as possible on the interest. some will care more about your credit score, for some it will make a big difference how much you going to borrow, for some it will be the term of the loan. having just gone through this I can say - there's a huge number of options.

depending on where you buy from, the seller may give you financing option of his own - those are RARELY as good as you can get elsewhere, unless you're buying a new car.

once you found a lender that's giving you good quotes, figure out exactly how much you can borrow to keep payments COMFORTABLY within your budget. don't depend on your old man - if he helps you down the road- fine, that's what family is for - but don't plan on it.

Now you can determine things like what is the acceptable price range for your new car and if you should trade in your current ride/ask family for help with downpayment. This is much better approach, IMO, compared to trying to do last-second math while talking price with the seller. Maybe you'll conclude that with the deal you can get for the loan, and cash/trade-in available for the downpayment, your dream machine is just a little out of your budget - this is infinitely better than to realize the same thing driving home in your new car!!! At least you'll have a good idea on where to go to achieve your dream.

getting a loan you can afford and paying it on time for a few years will do wonders for your credit score. do NOT take out large loans if your financial situation is not stable for the next few years. I made this mistake in the past and had to bust my behind for a few years to make things work

you seem to be determined to get a corvette good luck to you and always think long-term when making financial decisions like this.

 

As the 56 year old Dad of a 24 year old Corvette owner, I'd say save your money. While there's nothing wrong with wanting a Vette at your age, you need to get your priorities straight. They'll be plenty of time for a Vette down the line. Save your money and get your credit straighted out first.

 

Thanks, thats one of my problem, when it comes down to it I seem to hurry when I comes time to buy the car.....

I think I will keep saving until I have around $6000 down for the vette and will spend about $25000 for the whole car... but it really depends on where I go, on how low I can get the payments.... Thank all of you for your input!