Cautionary Tale
Racer
Joined: Apr 2007
Posts: 351
Likes: 0
From: washougal wash.
Congrats to all on the board that don't need financing to purchace a new car, let alone a vette. I suspect I'm in the vast majority that does. Without going into details, life can change very quickly, 10 months ago was worlds away from my reality today. Don't get too cockey about your current state of bliss, it can quickly change for the worse.That said, were all blessed to have our vettes, enjoy and say thanks.
Instructor
Joined: Oct 2006
Posts: 222
Likes: 0
From: San Diego California
Congrats to all on the board that don't need financing to purchace a new car, let alone a vette. I suspect I'm in the vast majority that does. Without going into details, life can change very quickly, 10 months ago was worlds away from my reality today. Don't get too cockey about your current state of bliss, it can quickly change for the worse.That said, were all blessed to have our vettes, enjoy and say thanks.
For me, it's not about being cockey...it's about living within you're means. When I was 16 I paid cash for a bicycle ($25) as basic transportation...at 17 I paid cash for a used 350cc motorcycle($300) for basic transportation...at 19 I paid cash for a used 750cc motorcycle ($700) for basic tranportation...at age 28 I could finally afford to pay cash for a 10 year old used car ($600 and I kept the bike). At age 48 I could finally afford a new Toyota (because I lived within my means for 48 years!). At 54 I could finally afford to buy a new Corvette...Living within your means will allow more in the long run. If life takes a bad turn...I'll get rid of the Corvette and start over again.
Melting Slicks
Joined: Jun 2006
Posts: 2,208
Likes: 1
Congrats to all on the board that don't need financing to purchace a new car, let alone a vette. I suspect I'm in the vast majority that does. Without going into details, life can change very quickly, 10 months ago was worlds away from my reality today. Don't get too cockey about your current state of bliss, it can quickly change for the worse.That said, were all blessed to have our vettes, enjoy and say thanks.
Burning Brakes
Joined: May 2002
Posts: 889
Likes: 1
From: Arizona
I hit a deer with my Lightning. Body shop did a poor job in repairing the damage. Decided...what the heck, I am going to buy a vette.
Went to my local chevy dealer, paid too much and financed $45k.
I am self employed and am very vehicle heavy. Two vans, a box truck, a bucket truck and a Focus! My credit score always ran between 680 and 725 depending on my credit card usage.
Just because I could afford the payments.... just because I could get financed... just because I wanted this car, my credit is now 580 and it is staying down there!
GMAC will NOT finance a truck for me with the good rates! YIKES!
So, my choice is sell the vette, or pay it way down. I guess I will pay down $20k in the next few months to see if that helps! If not... vette gotta go!
Went to my local chevy dealer, paid too much and financed $45k.
I am self employed and am very vehicle heavy. Two vans, a box truck, a bucket truck and a Focus! My credit score always ran between 680 and 725 depending on my credit card usage.
Just because I could afford the payments.... just because I could get financed... just because I wanted this car, my credit is now 580 and it is staying down there!
GMAC will NOT finance a truck for me with the good rates! YIKES!
So, my choice is sell the vette, or pay it way down. I guess I will pay down $20k in the next few months to see if that helps! If not... vette gotta go!
Advanced
Joined: Mar 2007
Posts: 75
Likes: 0
From: Twin Cities MN
Ya know, I think I agree with all of you to some extent. Everyone has their own goals- financially and otherwise. All I have to say to those feeling some regret- Cheer up! You own the dream car that many have wanted for their whole lives. Find a way to pay for it and hold onto that car!
Have you ever pulled into a gas station with your C6 and some random person walks up and their first words are, "I've always wanted one of these!"
I just picked up my new C6- VR, MN6, Z51, 2LT, R8C 2 weeks ago!! I was going to wait until I had the slush savings to buy one with cash. But upon further review, the concept of paying interest while I pay it off is a small price for that extra time with my dream car.
Here's to living life!
Jim
Have you ever pulled into a gas station with your C6 and some random person walks up and their first words are, "I've always wanted one of these!"
I just picked up my new C6- VR, MN6, Z51, 2LT, R8C 2 weeks ago!! I was going to wait until I had the slush savings to buy one with cash. But upon further review, the concept of paying interest while I pay it off is a small price for that extra time with my dream car.
Here's to living life!
Jim
Racer
Joined: Nov 1999
Posts: 441
Likes: 0
From: Houston TX
Hold up. I am a Mortgage Broker.
1.NEVER pay your CC down to more than 25% of balance. Paying to $ 0 can drop scores.
2.Use a Mortgage broker to shop for the best rate for you and give them the scores you have. (that is why you are paying us).
3. Credit inquiries kill many people's credit score. You get your own score and quote it to the guy trying to earn your business. I have seen more Mortgages die due to inquiries than anything else.
We have a free credit analysis link on our website and their repair service is cheap and working for many of our clients. Scores usually go up within 2 months if interested PM me for the link. I get NOTHING out of this. Just trying to help if i can. The credit game is a tough one. I see it every day.
1.NEVER pay your CC down to more than 25% of balance. Paying to $ 0 can drop scores.
2.Use a Mortgage broker to shop for the best rate for you and give them the scores you have. (that is why you are paying us).
3. Credit inquiries kill many people's credit score. You get your own score and quote it to the guy trying to earn your business. I have seen more Mortgages die due to inquiries than anything else.
We have a free credit analysis link on our website and their repair service is cheap and working for many of our clients. Scores usually go up within 2 months if interested PM me for the link. I get NOTHING out of this. Just trying to help if i can. The credit game is a tough one. I see it every day.
Team Owner
Joined: Mar 2001
Posts: 106,480
Likes: 1
From: Adventure, excitement ... a Jedi craves not these things.
Cruise-In VII Veteran
