Can Someone making 60k a yr afford the base c7?
#161
What?. Once she turnes into a wife she probably will put her foot down and it will be no more two seat sports for for the poor guy. Bad advise. Get your toys before getting married.
#162
Melting Slicks
Here's my situation ...my mortgage payment is $755 and my fiancé pays for all other expenses like electricity water Internet cable and groceries...I have 1 cc in which will be paid off once I decide to get a vette...I know people say only spend 20-30% of your yearly income..but if I take out a 6 yr loan at 2.9% with 7000 down payment will be around 500-550 a month...and looking to get a used c7 not a new one...thoughts?
#164
Instructor
OP - I can't believe we got to 9 pages and not a single person said the truth = BUYING A CORVETTE IS AN EMOTIONAL DECISION! LOL
It will never make sense from a cash perspective, from an investing perspective nor from a resale perspective. Sure as hell will never make sense from the DD perspective being in Wisconsin.
Buy it so you get that great grin on your face and hear that exhaust and put it out sideways, and dump the clutch and smell the new interior and go live your life! Take your fiance out in it through the back wisconsin roads and enjoy it! You will never forget the experience or the fun you had and you will never be that young again!
It will never make sense from a cash perspective, from an investing perspective nor from a resale perspective. Sure as hell will never make sense from the DD perspective being in Wisconsin.
Buy it so you get that great grin on your face and hear that exhaust and put it out sideways, and dump the clutch and smell the new interior and go live your life! Take your fiance out in it through the back wisconsin roads and enjoy it! You will never forget the experience or the fun you had and you will never be that young again!
#165
Burning Brakes
Thanks! Life can end rather abruptly as posted elsewhere so I'm going to enjoy this bit of it while I can. When I got the original news that I had lung cancer, some of my first thoughts were of regret for all the things that I wanted to do with my life and hadn't gotten to yet. So this will be crossing one of those off the list
#166
Instructor
Thanks! Life can end rather abruptly as posted elsewhere so I'm going to enjoy this bit of it while I can. When I got the original news that I had lung cancer, some of my first thoughts were of regret for all the things that I wanted to do with my life and hadn't gotten to yet. So this will be crossing one of those off the list
#167
Take your money....start your own business....and see how much money you'll make when you own your own business. Just saying...from experience. I started my own business 10 years ago and I now make enough money to buy all my dream cars. Be smart with your money man. Make it work for you. I tell my kids the same motto "you only live once"....so go do something with your life and you can enjoy it to the fullest.
#168
Le Mans Master
Take your money....start your own business....and see how much money you'll make when you own your own business. Just saying...from experience. I started my own business 10 years ago and I now make enough money to buy all my dream cars. Be smart with your money man. Make it work for you. I tell my kids the same motto "you only live once"....so go do something with your life and you can enjoy it to the fullest.
Michael
#169
Le Mans Master
Don't let the car end up being a ball and chain financially. However, I would not give up on your dreams. You may just have to do things a bit differently, than walking into a showroom and putting in an order.
Corvettes depreciate a lot in the first year. Even if someone did zero maintenance in the first year, the car would still be in good shape. Many Corvettes are garage queens, so have very few miles. They are like new cars at a heavily discounted price. If you buy one during the snow season, you can often save some money.
Wait for the market to simmer down, and for the first owners to start selling them.
Michael
Corvettes depreciate a lot in the first year. Even if someone did zero maintenance in the first year, the car would still be in good shape. Many Corvettes are garage queens, so have very few miles. They are like new cars at a heavily discounted price. If you buy one during the snow season, you can often save some money.
Wait for the market to simmer down, and for the first owners to start selling them.
Michael
#170
I love the fact that "Can I afford it?" posts always blow up on car forums. I'll add another non-definitive answer!
If $60K is your only income and you need it for general day to day life, then no.
If the $60K is more or less totally disposable (i.e., general living expenses are covered via some other means), then yes.
The 1/4 to 1/3 guideline is pretty good advice. Who knows - by the time you're ready to buy you might be making a lot more than you're making now and the choice will be easy.
Also - don't finance a used car for 6 years. By the end of the loan, the car will be 8 or 9 years old. Do you really want to be stuck with a payment on a car that old?
If $60K is your only income and you need it for general day to day life, then no.
If the $60K is more or less totally disposable (i.e., general living expenses are covered via some other means), then yes.
The 1/4 to 1/3 guideline is pretty good advice. Who knows - by the time you're ready to buy you might be making a lot more than you're making now and the choice will be easy.
Also - don't finance a used car for 6 years. By the end of the loan, the car will be 8 or 9 years old. Do you really want to be stuck with a payment on a car that old?
#173
why don't you just save up more for a bigger down payment? I don't understand how people can pay anything over $400 a month for a car. My Vette is the most expensive payment I've ever had out of the 4 other cars I've owned in my life, and the monthly payment is only $321.
#174
Le Mans Master
A wise man once told me, "You can do anything you want, as long as you are willing to pay the price."
So, you will obviously have to make some choices, "get the Vette and give up (insert whatever). When I bought my '96 LT4 w/ 24K miles 7 years ago, I overpaid a litte bit. It was the nicest one I could almost afford at the time. Sure, there were alot of other, smarter things, I could have done with that $420 a month for five years, but 125K miles of smiles later, I have no regrets. I didn't miss any meals and never had to sleep in the car. Life is a balance between planning for the future and enjoying today.
I personally will own a C7, but it most likely won't happen in 2014. (Unless I pick the right 6 numbers)
So, you will obviously have to make some choices, "get the Vette and give up (insert whatever). When I bought my '96 LT4 w/ 24K miles 7 years ago, I overpaid a litte bit. It was the nicest one I could almost afford at the time. Sure, there were alot of other, smarter things, I could have done with that $420 a month for five years, but 125K miles of smiles later, I have no regrets. I didn't miss any meals and never had to sleep in the car. Life is a balance between planning for the future and enjoying today.
I personally will own a C7, but it most likely won't happen in 2014. (Unless I pick the right 6 numbers)
#175
Le Mans Master
OP could just wait until there are ObamaVette's to go with the ObamaPhones.
http://www.youtube.com/watch?v=tpAOwJvTOio
http://www.youtube.com/watch?v=tpAOwJvTOio
#178
Le Mans Master
Take your money....start your own business....and see how much money you'll make when you own your own business. Just saying...from experience. I started my own business 10 years ago and I now make enough money to buy all my dream cars. Be smart with your money man. Make it work for you. I tell my kids the same motto "you only live once"....so go do something with your life and you can enjoy it to the fullest.
#179
Le Mans Master
why don't you just save up more for a bigger down payment? I don't understand how people can pay anything over $400 a month for a car. My Vette is the most expensive payment I've ever had out of the 4 other cars I've owned in my life, and the monthly payment is only $321.
#180