Crazy Idea....Or is it?
Thread Starter
Banned Scam/Spammer
Joined: May 2006
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From: Fort St John B.C
Crazy Idea....Or is it?
Well, I went to work today with a buddy (he wants a Vette big time) and we got to talkin'.
Long story short Im in school right now full time which means Im not working (He had side work today so I helped out) and I havent worked since September 07'
My savings have long since been depleted.
I still owe some on the car and have other bills, also a Student Line of Credit on the go.
So basically my idea is to try and sell the car here locally, pay of all my debt and then buy another C5 either this coming winter or next summer.
If I cant sell it for a price Im comfortable letting it go for I wont pull the trigger.
I can hold through til this Sept when I should be working full time again after school.
C5s are going for alot less than when I bought mine (esp in Can) 2 years ago.
But I love this car so much and Ive put alot of $ into it, it would be hard to let go, Its never let me down.
I would like some honest opinions guys!!
Thanks
Clayton
Long story short Im in school right now full time which means Im not working (He had side work today so I helped out) and I havent worked since September 07'
My savings have long since been depleted.
I still owe some on the car and have other bills, also a Student Line of Credit on the go.
So basically my idea is to try and sell the car here locally, pay of all my debt and then buy another C5 either this coming winter or next summer.
If I cant sell it for a price Im comfortable letting it go for I wont pull the trigger.
I can hold through til this Sept when I should be working full time again after school.
C5s are going for alot less than when I bought mine (esp in Can) 2 years ago.
But I love this car so much and Ive put alot of $ into it, it would be hard to let go, Its never let me down.
I would like some honest opinions guys!!
Thanks
Clayton
Race Director
Joined: May 2005
Posts: 15,960
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From: West Norriton PA
St. Jude Donor '08
Well, if you can afford the car, you might want to keep since you will probably lose money with what you paid and the extras you did.
Starting over is not easy, but if you really need the money sell and wait until you have the extra funds to buy another.
Finish school first.
Starting over is not easy, but if you really need the money sell and wait until you have the extra funds to buy another.
Finish school first.
Racer
Joined: Jul 2007
Posts: 419
Likes: 1
From: La Crosse Wisconsin
Well, if you can afford the car, you might want to keep since you will probably lose money with what you paid and the extras you did.
Starting over is not easy, but if you really need the money sell and wait until you have the extra funds to buy another.
Finish school first.
Starting over is not easy, but if you really need the money sell and wait until you have the extra funds to buy another.
Finish school first.
Sell if you must, you will get another. Finish school so you are able to afford one better. There is a reason you rarely see guys under 30 in vette's. Make a little $ then buy one with no fear!
Tech Contributor
Joined: Dec 2003
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From: Horncastle Lincolnshire, England
2023 C5 of the Year Finalist - Unmodified
There's one fact in life that I've learned over the years. Cars are great fun but rarely make money. I think you need to accept that if you sell it on you'll make a loss. Once you accept that then its easier to look at what you're likely to get for the car, how much you still owe and your budget once you pick up an affordable DD. If you don't need the $$ keep it. If the sums are bad, sell.
I have to say that at your stage I couldn't have afforded anything like a C5 so the positive is that you had a great experience owning the car. Once you have regular $$ coming in it'll be an easy decision - oh except for the wife, kids in college, mortgage ...................
I'd say if money is tight, sell until you have a regular income. Best of luck with the decision.
I have to say that at your stage I couldn't have afforded anything like a C5 so the positive is that you had a great experience owning the car. Once you have regular $$ coming in it'll be an easy decision - oh except for the wife, kids in college, mortgage ...................
I'd say if money is tight, sell until you have a regular income. Best of luck with the decision.
Last edited by DeeGee; Jun 22, 2008 at 01:43 AM.
Melting Slicks
Joined: Oct 2006
Posts: 3,447
Likes: 6
From: Los Angeles
You already have the car, it will be cheaper in the long run to keep it. You've already spent money on mods and it has lost value over time... you will loose the money you put into those areas if you sell it.
You can always work part time. Even when I was a "full time student" I still had a lot of free time to **** away.
You can always work part time. Even when I was a "full time student" I still had a lot of free time to **** away.
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Thread Starter
Banned Scam/Spammer
Joined: May 2006
Posts: 4,285
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From: Fort St John B.C
Haha, Gotta read between the lines I suppose
Or the thread title!!!!!!
Wasnt really a question more of a situation/option anticipating suggestions, such as, what YOU would do.
I had no problem affording the car, its when I decided to go back to school I knew it would get tough, plus I moved and quit my good job(oilfield job-up north), But I want a trade and a career.
Your right, I will NOT get back what I put into it if I sell it which makes it a loss, Ive understood that since before I bought it, but even so I could still be in the + with all my bills accumulated.
Its just something thats always bothered me and thats owing money or being in debt, I dont like it. I use my credit card for something its paid off the next day...no BS.
I dont want to sell it, I love it. I will get by just not as comfortable as I'd like.
I guess Im just looking for reassurance.
(I guess I just answered my own "question")
Or the thread title!!!!!!Wasnt really a question more of a situation/option anticipating suggestions, such as, what YOU would do.
I had no problem affording the car, its when I decided to go back to school I knew it would get tough, plus I moved and quit my good job(oilfield job-up north), But I want a trade and a career.
Your right, I will NOT get back what I put into it if I sell it which makes it a loss, Ive understood that since before I bought it, but even so I could still be in the + with all my bills accumulated.
Its just something thats always bothered me and thats owing money or being in debt, I dont like it. I use my credit card for something its paid off the next day...no BS.
I dont want to sell it, I love it. I will get by just not as comfortable as I'd like.
I guess Im just looking for reassurance.
(I guess I just answered my own "question")
Last edited by clayton1; Jun 22, 2008 at 04:09 AM.
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From: Ideals are peaceful...History is violent...St.Charles, MO.
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St. Jude Donor '08-'09-'12 thru'22
Melting Slicks
Joined: Apr 2005
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I get more enjoyment and inner happiness from being debt-free (except a mortgage payment) than I do from owning a Corvette. The fact that I have both pleasures is because I worked hard to achieve the former first.
Prioritize. With an education and a debt-free slate, life will be a whole lot easier and less stressful.
Prioritize. With an education and a debt-free slate, life will be a whole lot easier and less stressful.
Racer
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From: Bahrain
Le Mans Master
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From: Southern New Jersey, The wet part at the bottom
St. Jude Donor '08-'09-'10
He wants to know what color Carlisle T shirt you want?
I think he's asking us should he sell his C5 right now being the prices are down, lower than he would be able to buy another one for MORE $$$ in September?
Clayton1, For what we get for our C5s on the crappy used car market, you might be able to buy another USED car that you won't be happy with. So I wouldn't think selling the Vette would bring financial bliss and a great DD ride too. Everyone is feeling the economic crunch (even some big $$ folks) My slant? Just keep puttin' one foot in front of the other, keep your nose to the grindwheel, and "carry on".
Good luck with whatever decision you make.
I think he's asking us should he sell his C5 right now being the prices are down, lower than he would be able to buy another one for MORE $$$ in September?
Clayton1, For what we get for our C5s on the crappy used car market, you might be able to buy another USED car that you won't be happy with. So I wouldn't think selling the Vette would bring financial bliss and a great DD ride too. Everyone is feeling the economic crunch (even some big $$ folks) My slant? Just keep puttin' one foot in front of the other, keep your nose to the grindwheel, and "carry on".
Good luck with whatever decision you make.
Race Director
Joined: Jul 2004
Posts: 16,795
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From: Lake Havasu City, AZ
Sell the Vette now. sort out your finances.
Buy another one when you are again financially sound.
At your age that means
1. you have 6 months worth of after tax pay as the balance in your savings account
2. you can make the payments and still contribute 5% of your after tax pay to that account
3. You can still make the payment and still put 10% of your pay into a
RRSP (401K for Canadians)
Buy another one when you are again financially sound.
At your age that means
1. you have 6 months worth of after tax pay as the balance in your savings account
2. you can make the payments and still contribute 5% of your after tax pay to that account
3. You can still make the payment and still put 10% of your pay into a
RRSP (401K for Canadians)
Thread Starter
Banned Scam/Spammer
Joined: May 2006
Posts: 4,285
Likes: 3
From: Fort St John B.C
Its to be expected though I guess...
He wants to know what color Carlisle T shirt you want?
I think he's asking us should he sell his C5 right now being the prices are down, lower than he would be able to buy another one for MORE $$$ in September?
Clayton1, For what we get for our C5s on the crappy used car market, you might be able to buy another USED car that you won't be happy with. So I wouldn't think selling the Vette would bring financial bliss and a great DD ride too. Everyone is feeling the economic crunch (even some big $$ folks) My slant? Just keep puttin' one foot in front of the other, keep your nose to the grindwheel, and "carry on".
Good luck with whatever decision you make.
I think he's asking us should he sell his C5 right now being the prices are down, lower than he would be able to buy another one for MORE $$$ in September?
Clayton1, For what we get for our C5s on the crappy used car market, you might be able to buy another USED car that you won't be happy with. So I wouldn't think selling the Vette would bring financial bliss and a great DD ride too. Everyone is feeling the economic crunch (even some big $$ folks) My slant? Just keep puttin' one foot in front of the other, keep your nose to the grindwheel, and "carry on".
Good luck with whatever decision you make.
Sell the Vette now. sort out your finances.
Buy another one when you are again financially sound.
At your age that means
1. you have 6 months worth of after tax pay as the balance in your savings account
2. you can make the payments and still contribute 5% of your after tax pay to that account
3. You can still make the payment and still put 10% of your pay into a
RRSP (401K for Canadians)
Buy another one when you are again financially sound.
At your age that means
1. you have 6 months worth of after tax pay as the balance in your savings account
2. you can make the payments and still contribute 5% of your after tax pay to that account
3. You can still make the payment and still put 10% of your pay into a
RRSP (401K for Canadians)
Thank-You