Ha, I was thinking the same thing!

When I was 16 (1972!) I had a '65 GTO and I worked on it all the time. I paid $50 for it so it needed a lot of work. I soon discovered that I needed to buy a lot of tools and a decent tool box. Then I needed jack stands, a floor jack, an engine hoist, an engine stand, etc. Oh, and motor oil, drain pan, oil filters etc for genral maintenance. And then new wheels and tires, brakes, a 12 bolt rear, a Muncie M22, etc. Oh, and headers, exhaust, shocks, a Hurst shifter, etc. Then I needed a decent garage to work on it. Then I needed a 4X4 to drive in the winter. See where this is going? Work on your T/A while you get your life together. I was 27 before I got my first Vette and paid cash for it ('72 big block coupe).

 

You've had some really good advice here from some smart people.

In the transportation world a Corvette is just a toy and you're at the wrong end of your life to be financing toys. If you can't pay cash for toys, you can't afford them.

I've just got my first Corvette at the age of 59 but I can afford to buy it, run it and fix it. You can't.

 

ahah well olderrrrr lol how about that.. meaning i know there is no way i could afford a $100,000 car plus a $50,000 turbo kit ... meaning older people only... or just lucky young people i guess :P

 

So, you are going to lie to the insurance company and make your mother the primary driver of the car?

That is called insurance fraud. It is a felony in many states, FYI.

 

That's what I did when I graduated HS; didn't get my 'vette until after I got out, but by then my insurance was more manageable and I had some money to spend on the car.

There's plenty of time to own a 'vette, everything is a matter of priorities; if you have considered all the costs involved in owning a 'vette, where you would rather spend your money is the main question for you. A big enough down payment will get you most any vehicle you want.

JR

 

I'm taking a different approach to your "problem.' Why not look at an older vette, like a C-3 or C-4, which occasionally can be obtained for under $10,000. ANY vette turns heads! For sure the insurance is going to be a BIG issue. As for repairs, that too can be a headache but the older ones can be worked on by any good mechanic. This you'd have to find on your own...no shade trees here.
As for the job at Petco...so what!!! Who knows, you may be on the way to management. We don't know your personal history. I owned my first vette at the age of 20, and I can assure you I was earning just over minimium wage at the time! It was a nice, used vette, and gave me many years of pleasure. If you want to make some sacrifices, it can be done.

 

Funny, my 18yr old cousin joined the army and used his signing bonus to buy a 01 Vette Coupe. But it's under his step dad's name, so insurance & APR isn't a killer.

I've had a vette since I was 20. I would suggest joining a credit union, they are typically more flexible on loan qualifying. And use your new credit card to buy little stuff, and pay it off every month. That will bump up your score quick. You might have to wait a bit, but it will be worth it.

 

I will co-sign for you, just give me the 2nd set of keys and your home address and I will co-sign it for you. Just keep the car parked outside at night and we be good...

 

Ill break this down as well, since Im another mid twenties member here.

I sell the parts to these accursed beauties. There is a reason they named this car after a boat, because when it comes to your finances it is about the same thing.

I want a Z06 bad, I mean real bad, but Im also looking for a house, and I just bought an engagement ring and that means even more $$$ that is taking me further and further away from that Z06. But you know what, when I think about it, those are the things that matter more to me than some freakin car. I know all about how you are feeling, I have been that way since I first drove a car. Let me tell you, you will get more peace of mind out of just driving the TA and not worrying about car insurance or tires (which by the way can be a 1200 dollar trip) or anything else that is going to go wrong on that car. I came back from Iraq with 20k in the bank, and I still havent bought a Z06 yet, Im still looking for someone who will tell me how to correctly invest whats left of it after the ring. Settle down and realize how many "IDK"s you have put in this thread, if you dont know, then you shouldnt get one. Never buy anything that you are unsure of, at least where you are now.

My girlfriend (at least she doesnt know any better yet ) used to do exactly what you did but at Petsmart when I met her, there is no way you should be listening to that devil on your shoulder about a corvette. Join the military or take college courses on computers. Get microsoft certified or get a business degree. Go out into the world with a good attitude and work ethic and youll be looking at Midyears and new Z06's instead. I wish you luck but I think for now you need to just be a Corvette Forum Member and wait for your time to come.

 

well after listening to all you, I DONT CARE WHAT U SAY, no im just kidding and i think you guys are right and maybe i should wait, but as far as keeping my car, thats a no, i hate the damned thing, its a 170k mile ticking timebomb, just dropped a 1,000 bucks yesterday for just the transmission...I am currently looking for a 99-02 NBM Trans AM though which is alot more in my price range and can afford to put a good down payment on it, by around xmas, when i get my current loan payed off, the trans am depending on the year is only gonna cost me between 10-13k and thats for a somewhat similar car to the vette.

 

For example this one

 

Have you seen the price of a Corvette trany?

 

I got my 03' for way less than it was worth, and if it came down to it I'd sell it in a heartbeat for something more important, (house, wife, grad school), I have it worked out to pay it off in 2 years though and I'm fine with renting for a little longer, I just got a 10K pay raise by switching jobs and have so many credentials for my age I can pick what I want to do, plus I'm eligable for Air Force OTC right now which is looking mighty attractive. I made a mistake when I was in college buying a 2000 T/A to replace my 1994 Formula and luckily I only had it for one year before I relized it. Now I'm in a much better place in life and I'm glad I waited. Stuff is expensive these days and I say unless you are making about $50K or so, a used C5 isn't for you. Some can make it work, but its hard to manage. I do agree a $10,000 car is reasonable, and an early LS1 T/A is just fine, even if the gas for it isn't good.

 

i think you need to be in a position where a c5 CAN be your DD but doesnt HAVE to be your DD, big difference there.

 

Yea 2 cars is a must with a C5!

 

Preach, brother preach!

 

I was able to buy my vette at 18 as well. I was able to graduate high school early and start college at 16 along with a very well paying job as a personal trainer. I am lucky enough to have a scholar ship for college and also a pre-paid plan for college that my parents set up for me once I was born. If you have the money and time to work without sacrificing your education, go for it.