Some sound advice given...but you know what.. You only live once and could die tomorrow. Who cares if you finance or pay cash.

Good Luck

Here are CapitalOne rates you will need good credit..I haven't used them in several years, but have always had good exp.

APR as low as 61–72 mos

Dealer Purchase: New 6.99%
Dealer Purchase: Used 7.59%
Person-to-Person: Used 10.05%
Lease Buyout 9.65%

 

I understand where you're coming from, but play devil's advocate... Without a significant downpayment, you're instantly upside down driving a brand new car off the lot. As a lender, the highest risk would be within the first year or 2 of a new car purchase while there is rapid depreciation. Newer used cars that are already over the significant depreciation hump would be much 'safer' for the lender. Higher interest rates on used cars would create additional cushion for the lender if the borrower were to default. It's almost six of one, half-dozen of the other... Granted, this is really a case-by-case (or more appropriately car-by-car) scenario that lenders do not take into consideration, AFAIK. ie: Which is more risk - lending 72 months on a brand new Kia or a '02 Z?

 

This thread was entertaining, for sure. If my post insulted anyone, please accept MHA. My look into the future sees the sub-prime mortgage mess spilling over to the consumer credit world in this coming year. Bad news for folks that are deep in debt. Some may be forced to decide between a roof over their head, and a C5. My bet is on the roof over the head.

That will mean some really nice bargains out there on 'vettes, and those lucky few with cash will move those C5's to their garages at bargain basement prices. This was my main thought when I made the post, not the financial situation of anyone on this forum. Also, I think there are more 'vette sellers than there are 'vette buyers. Thus, a buyer's market will emerge.

 

I know from personal experience what "going for your dream" without proper financial planning can do to one's life. It took me loosing everything I had at a early age and seeing a few friends endure the same collapse before I realized that some financial planning is in order before buying anything that doesn't have a practical purpose but pure fun and joy (a Vette as a DD is really not practical - they can only be driven year round in certain climates, repair is expensive and they are not comfortable to be climbing in and out every 20 minutes - not to mention it only seats 2). A lot of guys will tell you to go for it, but when the bottom falls out they aren't going to be anywhere near you with their bank accounts open.

I've seen Vettes in some pretty ragged condition because all the owner could afford to do was make the payments. I've even seen guys drive without insurance! It's a sweet ride but definitely not worth getting upside down in for a 7-9 year old car. That's just not financially smart, regardless of if you can afford it. You'll find that the older guys will tell you to step back and re-evaluate the situation while the younger guys will tend to tell you to go for it. Although there are exceptions to every situation, age does have its benefits.

If only I could turn back the hands of time...

 

its your dream! do what you want? i just hope it all works out for you in the end!