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Can i afford a z06 operating cost

Old 10-08-2018, 10:01 PM
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DOJOLOACH
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Default Can i afford a z06 operating cost

Does anyone else make around 70k before taxes? Id like to spend 30k on a 07 z06, with a 16k loan. I technically have the momey to purchase with cash but id like to invest that money instead.

im 25, no kids, no wife, i rent an apartment. Is it true that i will need 15k on hand justfor repairs?

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Old 10-08-2018, 11:25 PM
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FAUEE
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Depends, 15 to 20k ia a reasonable estimate for replacing the engine, and if you're buying one for 30k itd too cheap to have fixed heads (or likely be in good shape but that's another story).

It's really a personal question. Do you have another car, do you want to save money for a house, do you drive a lot, do you have expensive insurance, do you like the hookers and blow too much, there are a million different things.

Operating costs are higher than normal cars, tires can run you around 2 grand and last 10 to 15k miles. Redoing the heads is a few thousand, plus labor of you cant diy. And if it's your only car, it takes time to swap the heads too. Then you end up doing other stuff like a cam "while you're there".

It's certainly feasible, but if you've got student loans or other expenses, it could certainly make you car poor. Or it could be no big deal. All a matter of priorities.
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Old 10-08-2018, 11:35 PM
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I make way less than $70k before, after, with, or without taxes. If I made 70k, I'd probably have 2 Z's. It all depends on your lifestyle and how you want to live. Priorities.
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Old 10-08-2018, 11:35 PM
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If you have to ask, you cant afford it.
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Old 10-08-2018, 11:47 PM
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I would take a good look at your finances first before having to borrow money to get a car. If you get hit with the head issue and drop a valve, that's an easy 10K in engine replacement.
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Old 10-09-2018, 12:53 AM
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My inner cheapskate is saying don't do it.

I'm not interested in getting into all of your finances, but your location would be helpful. $70k goes a lot farther in Alabama or Iowa (and others) than it does in San Francisco or NYC.
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Old 10-09-2018, 02:51 AM
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Originally Posted by Guyzer7 View Post
If you have to ask, you cant afford it.
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Old 10-09-2018, 05:52 AM
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No loans, im in charlotte, nc. This would be a 2007 or 06 which is why its 30k, maybe charlotte is a cheaper vette market
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Old 10-09-2018, 06:16 AM
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I've daily driven since 2011 as my only vehicle a 2011 Grand Sport, 6 speed dry sump, with headers/cai/tune in Florida, and I drive it about 12 - 15k miles a year.

I've tracked it on the Daytona speedway and drag race it at Titusville about once a year up until recently, since I'm getting to the mid 90's on the car now. I still rev it any time I feel like it, she still runs and handles as good as ever. I plan on keeping it at least another 4 or 5 years.

All I've ever done to it is the normal maintenance things you do to other cars, and even on tires, I shop around and end up getting good deals (I've never paid over $1,000 for a set of 4, and I've ran Michelins, Bridgestones, Coopers, Nittos, and the original Goodyears).

I drive it as far as WV, about a 1,500 mile round trip and get close to 30 mpg cruising on the interstates. I get in the low to mid 20's driving to work and around town.

My point is, if you treat it like a daily driver, it can be as economical as any other mid to full size car. I would also seriously consider the Grand Sport version, you can find 2010's and 2011's in your price range if you shop around

They are bullet proof, you will get newer better features for each model year you can afford, and the way I'm set up, it's a drivers race with a stock C6 Z06 - I've had many opportunities to compare it to them over the years.
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Old 10-09-2018, 07:04 AM
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DOJOLOACH
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Thats a valid point. So seems the largest repair cost could be 20k if the worst was to happen, otherwise insurance would cover a crash at fault or not at fault.

i can handle that 20k bill just not immediately, but in a year yes.
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Old 10-09-2018, 07:28 AM
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Check what your insurance will run. You are at least past the 25 mark so you won't have the big hit for being a male under 25. But if you have at-fault accidents insurance could be expensive.

Daily driving a Z06 isn't much more expensive than a normal car, except for tires and oil changes.
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Old 10-09-2018, 07:30 AM
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If you get the heads fixed, $2500 to $3000 for a none DIY, it is as affordable as any other car that you can afford for $30K. You can go through tires on a 240hp car as fast as you can on a 500hp car, just depends on how you beat on it. I've had cheaper, supposedly more reliable and slower cars, that have cost me more in repairs then my 08Z has. As a matter of fact, as of yet, I have only done the head repair and regular oil changes since I've owned it.
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Old 10-09-2018, 07:32 AM
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Originally Posted by DOJOLOACH View Post
No loans, im in charlotte, nc. This would be a 2007 or 06 which is why its 30k, maybe charlotte is a cheaper vette market
you mentioned an apartment, will you be parking this machine in the lot? I'd recommend a garage.
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Old 10-09-2018, 08:14 AM
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Originally Posted by JasonAndrew View Post
you mentioned an apartment, will you be parking this machine in the lot? I'd recommend a garage.
No I have a garage! No way I could park it in the elements.

What I'm hearing is that if I can afford a 35k period then I can afford a vette?

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Old 10-09-2018, 08:34 AM
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Originally Posted by Guyzer7 View Post
If you have to ask, you cant afford it.
just the way Iíve operated for 70+ years. You over analyzing
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Old 10-09-2018, 09:05 AM
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Not to sway you from the C6 platform. But if I am hearing you correctly you "could" pay cash for one but it may put you in a bind "short term". why not start out with a nice low mileage C5Z.. Great cars and a lot of us C6Z guys started with a C5Z... Just my .02
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Old 10-09-2018, 09:19 AM
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Originally Posted by DOJOLOACH View Post
Thats a valid point. So seems the largest repair cost could be 20k if the worst was to happen, otherwise insurance would cover a crash at fault or not at fault.

i can handle that 20k bill just not immediately, but in a year yes.
Find a nice car that has either had the heads done or have them done yourself. I was quoted $2,500 from a reputable shop including install. If you can leave cam alone and not port or mill the heads, etc., $, etc. The fix for the dropped valve issue is not that expensive. Once my GMEPP runs out, I will be getting my heads fixed just so I don't have to worry about it. The LS7 is intoxicating!

Last edited by GS982; 10-09-2018 at 09:24 AM.
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Old 10-09-2018, 09:22 AM
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Operating cost? It's the same as any other vehicle maintenance. Tires,brakes,oil,antifreeze air cleaner.
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Old 10-09-2018, 10:30 AM
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That's a good question for Suzie Orman. I'd love to hear her answer, but I already know what she'd say.
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Old 10-09-2018, 10:44 AM
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You can afford it.

I'm in the same area, theres a lot of cheap ones around here that are crappy. I'd spend a bit more and a a nice one. 35 to 40 gets you a really clean car, then budget another 3k for getting the heads done.

The other thing I'd throw out is why do you want the c6z? You may want to consider the GS or a base of you like the style and performance, the z06 loses the ability to remove the roof (which is just awesome to do) and frankly the ls3 cars are still very fast cars. Then you dont have the ls7 heads concerns.

My other advice, dont put all that money down. Save that money and put it down on a piece of property (house orntownhouse). Paying rent sucks, and housing is the best investment you can make. Frankly, I wouldn't put anything down on the car and would instead put that money into a house. Just advise from a guy not a whole lot older than you that's been thru this all.

Last edited by FAUEE; 10-09-2018 at 10:45 AM.
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