This is really a question for another forum. But if you want to go into that field then do it. I don't know what's going to happen with the health bill but most people still don't want it and the longer Obama is around the less they want him.

Now all you democrats repeat after me. It's Bush's fault. It's Bush's fault. It's Bush's fault. It's Bush's fault.

 

The 70k in saving would be if I work at 12k a year for 6 years starting at 16. My dad says I can get a corvette if I can prove I'm responsible and if I pay it myself. The catch is I have to become a nurse before I can buy it. My dad is a dropped out automobile tech. He broke his leg 3 months before graduating, the school kicked him out because you can only miss so many days of school. This was before I was born. He worked with c4 corvette in training and other cars. So maintenance would be cheaper then usual.

 

My youngest son had ambitions like you, he worked and saved and paid for his first car, a 97 Cavalier. I wasn't a Vette, but it was his, he earned it, and it got him to work and school. He achieved a full scholarship to the local community college and for that I bought him a brand new Cobalt in 08 so he had reliable transport to / from school. He just received his Associates degree, is still going to school to continue his degree and he wanted something "faster". So after driving for three plus years he now has a new 09 Cobalt SS that he is paying the difference on. ( I still am paying my original amt ). It took him over three years to get where he wanted to be! He just turned 20, is learning a lot about cars and has earned every bit of what he has. But there is no way that even with his working THREE jobs he can afford even a very used Vette, much less the insurance. On my policy he pays over $2500.00 every six months / triple that if he was on his own! It's nice to see you have ambitions, but make them reasonable, attain your goals and build from there. I had plenty of cars before I bought my first Vette, and I was 21! If you want it bad enough, no one can stand in your way, but my suggestion is never let a car get in between you and your education. With the right degree, you will have new Vettes for the rest of your life. Never lose your dreams, but be smart about them too! Best of luck to you and your dreams!

 

Do you realize what you insurance would be for a 18 year old in a C6 Z06?

Heck, might as well throw a loaded gun in the car and a bottle of Jack.

Bought my first vette when I was 25 and then 10 years later moved up to a Z06.

Where it all began....


latest toy...

 

I am just going to reply to the parking question. Hate to let the cat out of the bag but the reason we all park so far is because our Doctor's say we need the exercise.

 

[The 70k in saving would be if I work at 12k a year for 6 years starting at 16. My dad says I can get a corvette if I can prove I'm responsible and if I pay it myself. The catch is I have to become a nurse before I can buy it. My dad is a dropped out automobile tech. He broke his leg 3 months before graduating, the school kicked him out because you can only miss so many days of school. This was before I was born. He worked with c4 corvette in training and other cars. So maintenance would be cheaper then usual.[/QUOTE]

Son, you need to sit down with a school guidance counselor, really. You have grand plans that can be shot full of holes:
$12,000 per year in savings beginning at 16! Wow, kids make that kind of money part time where you live?! Not in Calif.
Your dad was going to be a C4 tech? I think he would be totally lost working on a C6 now, even if he hand the proper tools! So be prepared to pay for some work here and there.
And the others are totally correct: the insurance for you would eat up at minimum $2400 per year of your earnings. If you get 2 points on your license, forget it...you would be cooked like a Christmas ham!
And finally, nurses make good money???: my son-in-law quit nursing school at age 35 to become a member of the Harbor Police. Tons more money and a lot less issues.
I like the others admire your ambition but you really need to discuss all of this in greater depth with someone you respect and trust to be realistic with you!
I bought my older son a nearly new Z28 to commute to college in in the early '90's because he earned a full scholarship and the car was his reward for great grades! He gave the car back to me 5 years later after he earned his MBA, Suma *** Laude..!! He now earns well in excess of $125k per year and could care less what he drives! So hey, get the education first, then worry about a car....with the right piece of paper you can go hog wild buying yourself all the toys you want.

 

16+Z06=crash and burn.

 

Once again, you ARE getting some good advice from people here.

I think you need to look at, really think about, and write down goatts's #41 and #57 posts. And altho a bit negative, KX is trying to shine a light on YOUR topic in his #66 post.

There is every reason to be optimistic and forward-looking, as you are doing. But there is no good reason for you to reinvent the wheel. And in this case, it would be silly since some of the examples cited are real life---like the posters with real sons who have gone thru the same experiences and come out the other side.

And before you get someone to show you how to handle a Corvette, just remember you are in one of the best states for learning how to drive one. Bondurant High Performance Driving School (using Corvettes) is in Chandler. It isn't cheap to go there, but neither is wrecking a Corvette because you couldn't handle all that power, or braking, or whatever else.

 

You/us old farts need to remember where we got our start. I have no problem with a 16 YO having a fast car. Hell I had a 340 Duster as my teenage driver and it didn't have chest belts much less than airbags.

Just learn how to control that power. That is the most important thing. Most of the advice you are getting here are from all the same people that will brag about the fast cars from their youth.

 

But all but maybe a handful of posts are about finances, not about 16 yo being able to handle the car. If he's mature enough to get his finances in check at 16, he's probably mature enough to not do anything stupid driving it.

 

I love it . All us old men giving advice. From joining the military to staying in school to not owning a Corvette as his first car. Richman6 is fifteen years old. Give him a break. I changed my mind fifteen times a day at his age. He's thinking about a goal he would like to set for himself, and trying to figure out how to make it happen. What were you doing at fifteen? Richman6 , I would like you to post us a message one year from now and let us know how your doin, and what changes have come along in your life and what goals you have you have set for yourself at that time. Would you be kind enought to do that? Good Luck and keep your dreams alive.

 

three things, my friend.

1) you will not....i repeat....WILL NOT save 100% of your income! especially when you get out of high school.

2) what the hell does your dad have to do with what car you drive when you are 21?

3) cheaper THAN usual. i usuallydont care about grammar, but i dont aspire to be a doctor, just a trash man!

 

Alright,
Bondurant High Performance Driving School, I will go there once I get my offical driver license. Try before I buy haha.
I WILL save all of my orignal income I will spend the money I gain on my saving account, I don't lose anything.

 

thank you. it's the one "performance modification" that you can take with you to every car you drive. you'll be happy you did it!

 

Ah yes, that savings account....now pays what, 1.5% if you are lucky!! Perhaps 5 years from now it will pay 0.05%.! Better you get a Registered Rep license and learn the stock market 'cause savings accounts are not paying enough to buy air for your tires let alone finance a driving school or even one class session...!!!

 

wow, um.....no.

you realize most savings accounts earn MUCH LESS than 1%, right? Most are around 0.1%. But lets just say you find some good account that earns 2%, with no cap, and doesnt ever go down through the 5 years you plan to save. given you will be spending all of your interest earned each month, the interest will not compound on itself, and this is how it will look per month over 5 years.

Balance Interest
$1,000.00 $1.67
$2,000.00 $3.33
$3,000.00 $5.00
$4,000.00 $6.67
$5,000.00 $8.33
$6,000.00 $10.00
$7,000.00 $11.67
$8,000.00 $13.33
$9,000.00 $15.00
$10,000.00 $16.67
$11,000.00 $18.33
$12,000.00 $20.00
$13,000.00 $21.67
$14,000.00 $23.33
$15,000.00 $25.00
$16,000.00 $26.67
$17,000.00 $28.33
$18,000.00 $30.00
$19,000.00 $31.67
$20,000.00 $33.33
$21,000.00 $35.00
$22,000.00 $36.67
$23,000.00 $38.33
$24,000.00 $40.00
$25,000.00 $41.67
$26,000.00 $43.33
$27,000.00 $45.00
$28,000.00 $46.67
$29,000.00 $48.33
$30,000.00 $50.00
$31,000.00 $51.67
$32,000.00 $53.33
$33,000.00 $55.00
$34,000.00 $56.67
$35,000.00 $58.33
$36,000.00 $60.00
$37,000.00 $61.67
$38,000.00 $63.33
$39,000.00 $65.00
$40,000.00 $66.67
$41,000.00 $68.33
$42,000.00 $70.00
$43,000.00 $71.67
$44,000.00 $73.33
$45,000.00 $75.00
$46,000.00 $76.67
$47,000.00 $78.33
$48,000.00 $80.00
$49,000.00 $81.67
$50,000.00 $83.33
$51,000.00 $85.00
$52,000.00 $86.67
$53,000.00 $88.33
$54,000.00 $90.00
$55,000.00 $91.67
$56,000.00 $93.33
$57,000.00 $95.00
$58,000.00 $96.67
$59,000.00 $98.33



notice you will have less than $100 per month to spend for al of that period. you CANNOT live off that. even if you live at home and dont pay for food. in fact, you will be i the red the whole time just paying for insurance, gas and maintenance on your daily driver (since you arent buying the vette til you are 21).

if you go with a standard savings acount from some bank earning about 0.1% this is what it would look like:

Balance Interest
$1,000.00 $0.08
$2,000.00 $0.17
$3,000.00 $0.25
$4,000.00 $0.33
$5,000.00 $0.42
$6,000.00 $0.50
$7,000.00 $0.58
$8,000.00 $0.66
$9,000.00 $0.75
$10,000.00 $0.83
$11,000.00 $0.91
$12,000.00 $1.00
$13,000.00 $1.08
$14,000.00 $1.16
$15,000.00 $1.25
$16,000.00 $1.33
$17,000.00 $1.41
$18,000.00 $1.49
$19,000.00 $1.58
$20,000.00 $1.66
$21,000.00 $1.74
$22,000.00 $1.83
$23,000.00 $1.91
$24,000.00 $1.99
$25,000.00 $2.08
$26,000.00 $2.16
$27,000.00 $2.24
$28,000.00 $2.32
$29,000.00 $2.41
$30,000.00 $2.49
$31,000.00 $2.57
$32,000.00 $2.66
$33,000.00 $2.74
$34,000.00 $2.82
$35,000.00 $2.91
$36,000.00 $2.99
$37,000.00 $3.07
$38,000.00 $3.15
$39,000.00 $3.24
$40,000.00 $3.32
$41,000.00 $3.40
$42,000.00 $3.49
$43,000.00 $3.57
$44,000.00 $3.65
$45,000.00 $3.74
$46,000.00 $3.82
$47,000.00 $3.90
$48,000.00 $3.98
$49,000.00 $4.07
$50,000.00 $4.15
$51,000.00 $4.23
$52,000.00 $4.32
$53,000.00 $4.40
$54,000.00 $4.48
$55,000.00 $4.57
$56,000.00 $4.65
$57,000.00 $4.73
$58,000.00 $4.81
$59,000.00 $4.90

can you live of $5/month?

 

You calculations are off by a factor of 12. At 2%, compounded monthly and withdrawn, he would earn $1000/year. Remember the rate is APR (A = Annual).

2% = 2/12 = 1/6% / month

Greg

 

haha, you are right. i just did that real quick. ill go fix it

 

nothing wrong with being 21 and having a vette! Great time to own one IMO.... I think many people were thinking you wanted to get one much sooner which is probably a mistake... could be a fatal one unless you get real world driving experience BEFORE owning a C6.

Having a plan and some lofty goals is a great thing. I'd like to see more kids do likewise and stop drifting and do something productive with themselves. There are lots of really good kids out there... lots of them! It's unfortunate many of them are painted with the same brush.

Keep your hopes, dreams and aspirations in front of you all time. Just try to temper them with the "real world" and you'll do just fine. Lots of sage advice posted here... Good luck with it all..

 

I don't know why all of you feel that a 16 year old in a Z06 is such a bad idea and he will kill himself.
The car is powerful, sure. So is a car with 150 HP. If somoene wants to be stupid on the road, it does not matter what they drive. Will someone be MORE dead at a crash of 150 mph instead fo 100 mph?

I think that is a pretty dumb arguement. This kid seems to think things through. If that is the case, why do you feel that he would do something stupid in his car? I am more responsible in my Corvette than I have been in any other car, and that is NOT because I am older, it is because I respect the power that the car has. Why would he be any different?

16 year olds are not retarded monkeys, they can think for themselves. Do they lack a lot of experience, sure! But they are still quite competant to complete motor skill tasks. I have seen PLENTY of middle aged drivers who don't belong behind the wheel of anything, let alone a corvette.

Driving is really not that hard. I don't know why most of you think that it a really difficult skill! Maybe I am just a naturally better driver than most, or maybe it is really not as hard as most of you are making it out to be.