knight1975

lost my job last week, but as of tonight i was givin a chance to come back at a lower wage ( economy, not me) i have a house/married,life is fine. But my goal was to be a builder at the end of the year.( homes) with my lower wages ( about 10-14 grand less) i was ready to sell my car, so i can start building ASAP. i love my car, and i know if i lose it i will never get something like this again ( kids hopefully in future ) should i keep it ( paid 80 canadian 2 years ago) or sell it ( on craigslist for 65, and no calls ) plus i just bought some beauitful carbon fiber door panels/steering wheel just about a month ago.i want to get ahead in life, but i bought this car before i got married. would u sell? or suck it up?? thanks guys

Nick 02 Z06

Honestly, you know better than anyone here what you can afford based on your new salary. If there is even a slight chance that your family will suffer as a result of your vette payment then it is time to get rid of it. Family should come first and you can get another vette down the road after you take care of the family. Just my .02 cents..

ScottNC

I'm in a somewhat similar situation as you..I didn't lose my job, but my relationship with my GF is getting to the point where its looking like marriage.
I just got an 09 Z and I *really* love the car. I got a pretty good deal, but even so, its a fairly large drain on my 'discretionary spending'. I have thought alot about whether I should keep the car, or sell it so I can save more for a larger house, save for kids...etc. I am inside my budget, and im not suffering in any way by having the car, but I know I could save alot more if I didn't have the payment.

I really think it depends on how you view life. A very smart man once told me that if you live your life trying to save enough for kids...you will never have them. I am like you in that I don't know that I would ever be able to justify a car like this again, and if I did, I would most likely be so old I wouldn't really be able to enjoy it like I want to.

Personally, for me: You only live once. I will suck it up, maybe get another job to earn extra cash, head to costco and stock up instead of going out to dinner..etc etc.
I will do whatever I can to keep the car. But in the end, if it comes to whether or not I can send my kid to college, the choice is obvious.

I'd say suck it up and enjoy the vette. That's what I'm doing.
Hope this helps.

PatriotZ

Gotta agree with Nick here....Family is first...sorry for your situation but at least you still have a job....good luck

foremaw

I agree with the above posts. IMHO you should ensure that your larger, and more important, goals are not impeded in any way by a car. The cars will always be there when you want and can comfortabley afford one, the other opportunities will not. Take care of family and take care of business. The rest, including a Corvette, will take care of itself.

JDMUSCLE

Hey man, sorry that you are in this situation... Since you are married now and kids will be in there in the near future... You must set hour priorities straight. Family is mire important than hobbies... If they must co-exist then you will need to do some sort of sacrifice... Give up your weekends for a part time job... Spend less in going out to diners etc etc!! Imagine if you saved 50bucks a week by cooking your own food and if you made 100$ a week in a part time job... That equates to 600 a month... Well anyone can say or suggest anything... You know your situation best and hope you get to keep the car and provide for your family!!

C5 Frank

Sorry for your situation. I think if you are asking us, then you know what you gotta do. Getting justification from some Corvette guys might make it easier... But you need to sell the car and do what is right for you and your family.
My wife and I are working on starting a family. I had my Z06 and a 550 rwhp Mustang Cobra.. Both I am the original owner of and I loved them both. Reality is I had to sell one and get something with four doors thats practical. I chose to sell the Mustang. After owning it for 15 years with probably $50k invested in it, it was like loosing a family member. Now I am looking at sub $25k sedans.... I am keeping the Z so I can not complain... but if I had to I would sell it too if it meant a better life for my family.

jlutherva

Sorry to hear about your situation.

What does your wife think of the Z? What's her thoughts on moving ahead?

Perhaps you should look at you finances and see if maybe you could move down a few model years to reduce your car payment and lower your insurance and definitely STOP THE MODS.

In addition, don't go anywhere near a road course.

At least, let all of this settle-in for the next several months until the weather gets better and prices increase.

Good Luck with your decision.

Jim

MTIRC6Z

A very wise man once said to me: "I've always found it was easier to curb my spending habits than it was to always be looking for the job that would allow me to not curb my spending habits." Of course this was also the same guy who told me that you NEVER borrow money to buy a toy...in my opinion a Z06 is a toy.

You have to find a balance between living for today and being able to produce a brighter future. In 10 years from now a C6 Z06 isn't gunna look like a particularly special car and you'll be wondering what all the fuss was about.

Most of the people I know who have lots of money and tons of toys don't have the time to really enjoy them or the rest of their non-work related life...so instead of being jealous, I actually feel sorry for them.

Cheers, Paul.

Clay Assassin

The opportunity for another car will come again.

But the chance to buy a new house at these rates and low prices may not return, and the costs may be significantly higher when you have the car paid for. Plus, the sooner you get into your house and get the mortgage bought down, the easier that car is to get in the future.

If your thinking its time to get married and buy a home, this is the time to do it.

'06 Quicksilver Z06

Bite the bullet and sell the car, knowing that you will get another one when times get better.

You can't enjoy it like you'll want to anyway, if money is tight and you really can't afford it right now.

Part of the enjoyment of a toy, is knowing that you can comfortably afford it. And if you can't right now, then that is going to take away from some, or even a lot, of your enjoyment of the car anyway.

Having it, is not a pleasurable experience, if it is straining the hell out of you to keep it. That's not "fun". And having a Z06, is about FUN. Not being able to enjoy it because it is straining you to afford it, defeats the purpose of having it in the first place.

It will always be in the back of your mind, or your wife's mind that it is costing you and her, and it will eventually become a source of resentment either for you, your wife or the both of you, as it becomes "another mouth to feed", "another expense", so to speak, in the form of insurance, maintenance, fuel and payments ( if it's not already paid for.)

I am going to have to concur with those who say sell it.

Sorry.

dbaron

Sell the auto it will always be a drain, and find a new job. The contractor you work for knows your situation and is only lining his pockets with your money. I have been a unio carpenter for 45 years and have always made a decent salary. If he laid you off for lack of work was is he willing to bring you back at a lower salary when he is so slow?????
With the housing market the way it is right now I would not rush into building on your own. It does not sound like you have enough money to sit on a house and pay interest on a construction loan. Just my .02

1stZ

Looks like most of us here are in agreement that the vette is considered a luxury item & IMHO, I personally would not hesitate to get rid of it if my reason is to provide a better life for my family. The vette is just a car & there will always be another opportunity to get/drive a "cool" car. Either way, I wish you good luck & enjoy the vette most while you still have it. My only suggestion is to not waist too much time going back and forth in making the decision. The more time you own the vette & thinking wether you should sell it or not is time waisted & not fully enjoying ownership of the vette. Instead, enjoy the car NOW. Once you make your decision, don't look back & just move forward. Hopefully, time will just fly by & the next think you know, you're shopping once again for another "cool" car. Best wishes!

GMuffley

Sell the car. You can always buy another when circumstances are better. Owning a Z is a luxury, not a necessity.

J@WheelsBoutique

100% agreed. Sold mine in order to free up $$ due to a slower economy. With my family growing (16 month old and one in the oven) It was a necessary move to part ways with my Z. Miss it sure. But its only a car( one hell of a car) but there will be brighter days. Now if I could only make my Lightning faster... lol

QUAKEJAKE

Toys are toys. Rewards of a family and kids far exceeds the satisfaction of a Vette. Just prior to starting my family, New 1100 Suzuki gone, 5 year old 70 Challenger gone. Great years to come raising a family with a great woman. Waited 30 years to get back in the game again. One of the rewards was a new Z two years ago. Persistence and hard work will get you back to where you need to be eventually.Sell it before it becomes your Albatross

knight1975

Thanks for all replies guys. First of all the car is paid off, and my wife says keep it a couple of years and enjoy it. Since i just literally got my beauitful carbon fiber door panels/steering wheel from DS vettes (thanks leno !! ) Im gonna suck it up and hope this ****ty economy picks up!!!

mikejfl

If its paid off ABSOLUTELY KEEP IT

I "had" a vette that was paid off and I sold it to start a business. I didn't necessarily have to cause there were other means for the capital but I thought "O sure... in a year or two I'll just pick up another one....". Yea right, that never happened. Business is fine (thank God) but now I have a wife and two kids that I didn't have when I had my Vette.

I can tell you I wish I would have kept my vette... I kick myself everyday for selling it. I know with the family my very solid income is divided by 4 people now rather than one and it is going to be a while before i can have another vette.

Family is the most important thing to me period, but having said that I am a little pissed cause I went from a 550hp LS2 (see sig) to a freakin Camry (can you sense my excitement) and I hate it. Thrilled to have my family though.

So keep it, keep it keep it and never think about selling again. Sell only if the car keeps you from doing what is best for the fam. Family is first.

So until I get another Vette I will continue to live vicarously through you guys....LOL.

Hope this helps.