Just don't crash it and drive our rates up!
Too Young???
Instructor
Joined: Apr 2007
Posts: 170
Likes: 0
From: WV
Being in the military, you know all too well that life is short and precious. My husband wanted a vette since he was 12 (he's 35 now, and we just got ours in February). Unfortunately, it took a huge tragedy last year for us to both realize that it was time to make his dream come true. Financially we were in the position to do it, and it sounds like you are also. Follow your heart, and go for it. I hope all of your dreams come true ! 
Team Owner
Joined: Jun 2001
Posts: 100,672
Likes: 2
From: Cleveland OH
If you can afford it ... why not ... Age is not a prereq to by a Vette ... it's just that most people who buy these cars and can afford them are not 23 ... but it doesn't mean you have to be 30 or 40 to get one.
Instructor
Joined: Dec 2005
Posts: 178
Likes: 0
From: Orlando FL
I had my first 'Vette when I was 22. That's a while ago now, but I say go for it. I'm coming up on the wife and kids stage now and it's harder to justify buying another one.
Enjoy it while you can. A wife and kids could change things.
Enjoy it while you can. A wife and kids could change things.
Advanced
Joined: Apr 2007
Posts: 65
Likes: 0
From: Mobile AL
[QUOTE=JFTaylor;1560231535]You want it & can afford it GET IT NOW
Life is too short to live with regrets . . .
"Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, cigar in one hand, bourbon in the other, body thoroughly used up, totally worn out and screaming "WOO HOO - what a ride!"
If you're gonna drive like that, buy an automatic....kinda hard to shift while smokin' and drinkin'
Life is too short to live with regrets . . .
"Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, cigar in one hand, bourbon in the other, body thoroughly used up, totally worn out and screaming "WOO HOO - what a ride!"
If you're gonna drive like that, buy an automatic....kinda hard to shift while smokin' and drinkin'
Instructor
Joined: Jun 2006
Posts: 172
Likes: 0
From: Seattle WA
If you can pay off your loan within a year then you won't pay too much interest. That's what I did.
At 25, I though I'd better get the Vette bought and paid for so when I started a family I could keep it without it being a financial burden.
At 25, I though I'd better get the Vette bought and paid for so when I started a family I could keep it without it being a financial burden.
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Pro
Joined: Mar 2007
Posts: 585
Likes: 0
From: Coral Springs Florida
Im 23, I just got off the phone with my girl and I told her Im going to get a 06 loaded vette and she told me it feels weird for me to have a vette like that. She saw it as Im too young to own that much of a car, like it was for older men only. She loves the car and cant wait fot me to get it and all. But it got to me alittle, a C5 owner told me the same thing about me in my c4. He said I was to young to own a vette in that condition. Im not a rich boy Im in the military and Im about to sign over 4 more years of my life for my country. When I do they will give me $22.5k up front and $22.5k over the next 4 years. I was going to drop $15k plus trade in and take a $25k loan. I feel like I deserve it but will I be accepted into the C6 world.
Le Mans Master
Joined: Dec 2005
Posts: 6,993
Likes: 1
From: Vail, Arizona
Im 23, I just got off the phone with my girl and I told her Im going to get a 06 loaded vette and she told me it feels weird for me to have a vette like that. She saw it as Im too young to own that much of a car, like it was for older men only. She loves the car and cant wait fot me to get it and all. But it got to me alittle, a C5 owner told me the same thing about me in my c4. He said I was to young to own a vette in that condition. Im not a rich boy Im in the military and Im about to sign over 4 more years of my life for my country. When I do they will give me $22.5k up front and $22.5k over the next 4 years. I was going to drop $15k plus trade in and take a $25k loan. I feel like I deserve it but will I be accepted into the C6 world.
2. Why you worried what someone else thinks....Stand up and be your own man....
3. Thanks again for your service
Race Director
Joined: Oct 2004
Posts: 10,516
Likes: 2
From: Virginia Bch VA
Cruise-In VI Veteran
Cruise-In VII Veteran
St. Jude Donor '06
Tell the young Babe that you're getting the Vette and that a 21 yr old Babe like her just dosen't go with the car. Then give Demi Moore a call to tell her you're now available and that Ashton is over the hill. 
Pro
Joined: Dec 2006
Posts: 682
Likes: 1
From: oak grove minnesota
Life is too short to live with regrets . . .
"Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, cigar in one hand, bourbon in the other, body thoroughly used up, totally worn out and screaming "WOO HOO - what a ride!"
statement to live by
"Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, cigar in one hand, bourbon in the other, body thoroughly used up, totally worn out and screaming "WOO HOO - what a ride!"
statement to live by
Instructor
Joined: Apr 2007
Posts: 223
Likes: 0
I would say buy the car while you can enjoy it but.......a mortgage comes first. Being smart with your money now typically = more Corvettes later. If you buy, buy used and pay cash. Corvettes lose around $10k when they are driven off the lot.
Borrowing 25k you will easily be spending $100 bucks a month in interest and depreciating at least $300 a month. So $400 goes out the window every month that you will never get back. I love my Vette, but its a crappy way to build money.
If you are deployed frequently then maybe a savings account will do, but you want money piling up someplace, besides at the Chevy dealer.
If I were you Id make myself a deal. Allow yourself a dollar towards the car including insurance, for every dollar you send to savings.
So if you can pay all your bills \ eat \ sleep and have 800 left over each month, send 400 to a mortgage or a money market and spend 400 on the car. Hold yourself to it. Get it autodrafted if you can. A mortgage is nice cause you tend not to skip it for emergency beer money, Corvette parts etc and you get a tax break.
You will never think twice or feel guilty as long as you have money going in the bank.
Borrowing 25k you will easily be spending $100 bucks a month in interest and depreciating at least $300 a month. So $400 goes out the window every month that you will never get back. I love my Vette, but its a crappy way to build money.
If you are deployed frequently then maybe a savings account will do, but you want money piling up someplace, besides at the Chevy dealer.
If I were you Id make myself a deal. Allow yourself a dollar towards the car including insurance, for every dollar you send to savings.
So if you can pay all your bills \ eat \ sleep and have 800 left over each month, send 400 to a mortgage or a money market and spend 400 on the car. Hold yourself to it. Get it autodrafted if you can. A mortgage is nice cause you tend not to skip it for emergency beer money, Corvette parts etc and you get a tax break.
You will never think twice or feel guilty as long as you have money going in the bank.
Drifting
Joined: Jul 2005
Posts: 1,274
Likes: 0
From: Los Angeles California
St. Jude Donor '06-'08
Most can't buy one because of several reasons not just $.
It you can, by all means, do.
You will never regret buying a Corvette.
Best of luck and thanks for your service.
It you can, by all means, do.
You will never regret buying a Corvette.
Best of luck and thanks for your service.
Race Director
Joined: Jun 2005
Posts: 10,909
Likes: 2,701
From: Phila Suburbs 2023 C8 & 2013 650ix
I would say buy the car while you can enjoy it but.......a mortgage comes first. Being smart with your money now typically = more Corvettes later. If you buy, buy used and pay cash. Corvettes lose around $10k when they are driven off the lot.
Borrowing 25k you will easily be spending $100 bucks a month in interest and depreciating at least $300 a month. So $400 goes out the window every month that you will never get back. I love my Vette, but its a crappy way to build money.
If you are deployed frequently then maybe a savings account will do, but you want money piling up someplace, besides at the Chevy dealer.
If I were you Id make myself a deal. Allow yourself a dollar towards the car including insurance, for every dollar you send to savings.
So if you can pay all your bills \ eat \ sleep and have 800 left over each month, send 400 to a mortgage or a money market and spend 400 on the car. Hold yourself to it. Get it autodrafted if you can. A mortgage is nice cause you tend not to skip it for emergency beer money, Corvette parts etc and you get a tax break.
You will never think twice or feel guilty as long as you have money going in the bank.
Borrowing 25k you will easily be spending $100 bucks a month in interest and depreciating at least $300 a month. So $400 goes out the window every month that you will never get back. I love my Vette, but its a crappy way to build money.
If you are deployed frequently then maybe a savings account will do, but you want money piling up someplace, besides at the Chevy dealer.
If I were you Id make myself a deal. Allow yourself a dollar towards the car including insurance, for every dollar you send to savings.
So if you can pay all your bills \ eat \ sleep and have 800 left over each month, send 400 to a mortgage or a money market and spend 400 on the car. Hold yourself to it. Get it autodrafted if you can. A mortgage is nice cause you tend not to skip it for emergency beer money, Corvette parts etc and you get a tax break.
You will never think twice or feel guilty as long as you have money going in the bank.
This is the kind of thoughtful advice you should seek out. The financial decisions you make early in life have a profound effect on the quality of life you will have in years to come. You should be making decisions now that build for your financial future. I may be old school but firmly believe that you are focused too much on the short run and not considering the long haul. Thanks for your service to the country and best of luck in whatever you do.
Melting Slicks
Joined: May 2006
Posts: 2,324
Likes: 0
From: MN
I'll offer my $.02.
I am curious. I see from the original posting that our young man is in the service. Fantastic. Thanks for your sacrifice. He is obviously enlisted from his age (i.e., not an officer). Having served myself (Go Navy!), I know what these young men make (even junior officers don't make that much). Even if he has been in the service for a couple of years, he is not making the kind of coin that would either afford or justify buying a $50k car.
This has nothing to do with being "too young" to own a Corvette - hell, I'm not that old either (so I tell my wife!). But, I don't really think you want to be tying yourself down to such a large obligation, especially when you are most likely deployed much of the time and unable to actually enjoy the car. You don't have the time or the money to use/afford a purchase like this, especially all the other costs that come with it - insurance, repairs, etc. I would save my money, if I were you.
I am curious. I see from the original posting that our young man is in the service. Fantastic. Thanks for your sacrifice. He is obviously enlisted from his age (i.e., not an officer). Having served myself (Go Navy!), I know what these young men make (even junior officers don't make that much). Even if he has been in the service for a couple of years, he is not making the kind of coin that would either afford or justify buying a $50k car.
This has nothing to do with being "too young" to own a Corvette - hell, I'm not that old either (so I tell my wife!). But, I don't really think you want to be tying yourself down to such a large obligation, especially when you are most likely deployed much of the time and unable to actually enjoy the car. You don't have the time or the money to use/afford a purchase like this, especially all the other costs that come with it - insurance, repairs, etc. I would save my money, if I were you.
Instructor
Joined: Oct 2004
Posts: 222
Likes: 2
From: Peachtree City GA
We all either are, or should be proud of you for your service. Enjoy every minute of this car if you can truly afford it.
The first car I ever bought was a new '70 coupe and I'm glad I could afford it just as I was entering the Air Force 36 years ago. With marriage and kids just around the corner, it was the best time possible for me to own one.
A word of caution: BE CAREFUL. Your profession is hazardous enough so don't exceed your abilities with the car.
After demotion to chevettes, vans and station wagons while raising a family, the next chance for me was a Mag Red '99 and now a LeMans Blue '05. I've loved every one of them and age simply has nothing to do with anything.
Best wishes to you in your career.
John
The first car I ever bought was a new '70 coupe and I'm glad I could afford it just as I was entering the Air Force 36 years ago. With marriage and kids just around the corner, it was the best time possible for me to own one.
A word of caution: BE CAREFUL. Your profession is hazardous enough so don't exceed your abilities with the car.
After demotion to chevettes, vans and station wagons while raising a family, the next chance for me was a Mag Red '99 and now a LeMans Blue '05. I've loved every one of them and age simply has nothing to do with anything.
Best wishes to you in your career.
John
Racer
Joined: Jan 2007
Posts: 353
Likes: 0
From: Huntington NY
$50K + is still $50K + either way it's money you won't have any more. True the interest expense you save is about $7,900 over five years on $50,000. But that's sort of a wash, you could invest the $50,000 in a CD at 5.25% or in a better returning investment and earn about $13,000 over the same 5 years. The loan is a declining balance so the effect of the 6% rate is not felt on the entire amount for the duration of the loan. Plus the time value of money comes into play. Why give GM the whole $50K + now? Also, with regard to financial burden, chances are you will be earning more money in the future when you have a family as well as probably have a second income via your new wife.