How Stupid Am I?
Thread Starter
Racer
Joined: May 2013
Posts: 272
Likes: 0
From: Homestead Florida
St. Jude Donor '13
How Stupid Am I?
I have never owned or even ridden in a Corvette. I am #8 of 10 allocated coupes at my dealership (May 27th was the day I put down deposit). I don't expect my car to be here until Nov/Dec. I keep reading on all the threads that you only live once and in my case that's definitely true. I have diabetes and IHD (heart disease) from Agent Orange exposure while serving in Vietnam. Currently everything is good number wise with my health
The dealership has a cute red C6 2LT marked down $11,000 to $42,000. Exactly how stupid is it for me to buy the C6 and trade it in in 5-6 months? Here's the deal, 0 makes the characters from Dumb and Dumber look like rocket scientists and 10 means exceptionally bright. Yes you may go to two decimal places in your rating. If nothing else it will get your mind off waiting for your car to come
.
The dealership has a cute red C6 2LT marked down $11,000 to $42,000. Exactly how stupid is it for me to buy the C6 and trade it in in 5-6 months? Here's the deal, 0 makes the characters from Dumb and Dumber look like rocket scientists and 10 means exceptionally bright. Yes you may go to two decimal places in your rating. If nothing else it will get your mind off waiting for your car to come
.
Thread Starter
Racer
Joined: May 2013
Posts: 272
Likes: 0
From: Homestead Florida
St. Jude Donor '13
Team Owner
Joined: Sep 1999
Posts: 41,732
Likes: 1,718
From: Springfield MO
I have never owned or even ridden in a Corvette. I am #8 of 10 allocated coupes at my dealership (May 27th was the day I put down deposit). I don't expect my car to be here until Nov/Dec. I keep reading on all the threads that you only live once and in my case that's definitely true. I have diabetes and IHD (heart disease) from Agent Orange exposure while serving in Vietnam. Currently everything is good number wise with my health
The dealership has a cute red C6 2LT marked down $11,000 to $42,000. Exactly how stupid is it for me to buy the C6 and trade it in in 5-6 months? Here's the deal, 0 makes the characters from Dumb and Dumber look like rocket scientists and 10 means exceptionally bright. Yes you may go to two decimal places in your rating. If nothing else it will get your mind off waiting for your car to come.
The dealership has a cute red C6 2LT marked down $11,000 to $42,000. Exactly how stupid is it for me to buy the C6 and trade it in in 5-6 months? Here's the deal, 0 makes the characters from Dumb and Dumber look like rocket scientists and 10 means exceptionally bright. Yes you may go to two decimal places in your rating. If nothing else it will get your mind off waiting for your car to come
.As for only living once, I had my first of four heart attacks at age 36 (I'm71 now), had a five graft bypass at age 52, and am a cancer survivor since 2001. I sure would be sitting ugly, if I had taken the stand that you only live once and made some stupid financial decisions 35 years, or 25 years ago, or 15 years ago, based on the assumption that I was only going to live a couple more years and proceeded to blow my wad back then.
Do what you can comfortably afford without ruining yourself financially if you do live another 20 years.
Today, I look at every major financial decision based on what happens if I get to the point in the future where I can't take care of myself and have to go into an assisted living complex or (heaven forbid) a nursing home. I want to make sure I can live in a nice place where they wipe my butt more than once every three days while I'm tied to a wheelchair with rags. Only you know your financial position and health so don't pay squat to what people say you should do.
Last edited by JoesC5; Jun 27, 2013 at 06:08 PM.
Scraping the splitter.
Joined: Jun 2005
Posts: 8,111
Likes: 1,029
St. Jude Donor '13-'14-'15
I would guess the huge discounts on C6's over the last 4-6 months have driven the value of used cars down. You would probably take a big hit in 5-6 months even if you got the car for $11k off MSRP. Seems like a moderate waste of money IMO.
S.
S.
Burning Brakes
Joined: Oct 2005
Posts: 767
Likes: 0
Always assume that you'll lose thousands on depreciation driving any new car off the lot. Now take into consideration that the C7 is about to make the C6 obsol....umm, I mean, non-current. 
So tack on a few more grand in depreciation. Also remember that you'd be trading it in at the start of winter (not sure if that matters to dealers).
You say you have good health. No reason to expect that to change in the near term, correct? Personally I would wait for the C7 to be delivered. I can think of a lot of other really fun ways to blow $4K-$8K over the next 6 months.
BTW, thanks for your military service.
So tack on a few more grand in depreciation. Also remember that you'd be trading it in at the start of winter (not sure if that matters to dealers).You say you have good health. No reason to expect that to change in the near term, correct? Personally I would wait for the C7 to be delivered. I can think of a lot of other really fun ways to blow $4K-$8K over the next 6 months.
BTW, thanks for your military service.
Last edited by vant; Jun 27, 2013 at 06:22 PM.
Le Mans Master
Joined: Apr 2013
Posts: 6,671
Likes: 4,144
2020 C8 of the Year Finalist - Unmodified
For serving our country in Vietnam, you've shown that not only are you "not stupid" but indeed are as smart as the best -- while also being a brave hero. Thank you for your service.
My advice is this:
It's your money. Do what you want with your life. And, the best of luck with your a long, happy, and healthy life.
My advice is this:
It's your money. Do what you want with your life. And, the best of luck with your a long, happy, and healthy life.
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Drifting
Joined: Jun 2003
Posts: 1,316
Likes: 1
From: Ridgewood NJ
My thoughts exactly. And if you get a good enough deal on a used one, you may even get lucky and be able to get back more than what you paid.
Safety Car
Joined: Dec 2009
Posts: 4,300
Likes: 3,199
From: Oro Valley Arizona
new or not
We'll have a very nice 06 convertible for sale when we have a delivery date for our C7 convertible. Can't be the only ones in this situation. Wait till C7 deliveries start and get a real steal on a low miles used one.
Burning Brakes
Joined: Aug 2006
Posts: 887
Likes: 2
Not true in all states - in my state you will get sales tax credit for what you sell / trade the car for vs. the new car sales price so you only pay taxes on the difference.
Melting Slicks
Joined: May 2007
Posts: 3,269
Likes: 25
From: Simi Valley Ca
Patients is a virtue. I'd wait. If you can afford the C7, it will be a substantial upgrade over a base c6 and even over the Grandsport contrary to what a small few here would like you to believe. If you can get the C7, be patient and you won't be dissapointed.
Pro
Joined: Mar 2005
Posts: 675
Likes: 291
From: Las Vegas
While fond of the C7, it hasn't just grabbed me yet, so I took advantage of the current deals and picked up a nice Grand Sport, and will enjoy it until I see a few C7's in person, and the hoopla dies down.
Buy what makes you happy.
Thank you for your service.
Buy what makes you happy.
Thank you for your service.
Burning Brakes
Joined: Dec 2012
Posts: 1,106
Likes: 0
If you've never owned one before, the C6 new at $42K is a great way to get introduced to the world of Vettes. It is a fantastic machine and you just might decide to keep it for a year or two while the dust settles down on the C7.
No doubt the C7 will have some significant improvements over the C6, but the C6 is by no means a slouch. Take the C6 for a test drive, I guarantee you will be very impressed. If you score one at a great deal, you have the flexibility of waiting until you can test drive a C7 and see if your experience will justify to you an upgrade.
Financially, a new C6 2lt at $42K is a real bargain. 3/5 year warranty and you can be driving it tonight.
No doubt the C7 will have some significant improvements over the C6, but the C6 is by no means a slouch. Take the C6 for a test drive, I guarantee you will be very impressed. If you score one at a great deal, you have the flexibility of waiting until you can test drive a C7 and see if your experience will justify to you an upgrade.
Financially, a new C6 2lt at $42K is a real bargain. 3/5 year warranty and you can be driving it tonight.
Le Mans Master
Joined: Dec 2006
Posts: 5,139
Likes: 482
From: H-Town Texas
If you really want a Corvette for this summer, I agree with afore mentioned idea of buying a used one. Perhaps you could work out a deal w/ your dealer on a guaranteed trade in value when your Stingray comes in.
Melting Slicks
Joined: Jul 2002
Posts: 2,223
Likes: 556
From: Tallahassee fl
Between C4 and C5 and C5 to C6... They offered HUGE discounts on the end of model runs. I was looking at a 2004 CE for 13k under sticker. The 96's were offering crazy deals too with even Grand Sports sitting on dealer showroom floors... they couldnt sell them
A few months later, the prices of the prior generation went UP on preowned cars in both cases. They aren't building corvettes right now. The 2014 production run will be a small one relative to other years. My guess is you'll buy the C6 and trade it for about what you pay for it. It's just a guess based on what has happened in the past but I personally think it's a good guess based on the fact that the C7 is in fact 10k more to buy... if you can even get one.
A few months later, the prices of the prior generation went UP on preowned cars in both cases. They aren't building corvettes right now. The 2014 production run will be a small one relative to other years. My guess is you'll buy the C6 and trade it for about what you pay for it. It's just a guess based on what has happened in the past but I personally think it's a good guess based on the fact that the C7 is in fact 10k more to buy... if you can even get one.