KenHorse

If you have to ask, perhaps this is more in line with your circumstance

Dusty Starbucks

I think most here can easily afford it with no problem, then gripe to high heavens because $500 is far too much money for specifically colored brakes (give me a break, er brake, er calipers). You will not find a group of people as cheap as us right here and when it comes to getting your money's worth, that's not a bad thing. I'll bet when all said and done there is only a small percentage (<10) here that can't really afford this car but are determined to "find a way". Most of us have lived through enough good and bad times to understand the value of a dollar and the value that a dollar brings. We also get big bang for our buck... regardless of how much money we have. It's the American way!

RocketGuy3

I think my general rule of thumb is if you wouldn't be forced to sell the car (or if you wouldn't even really feel pressure to sell the car) after losing your job or main source of income for 6-7 months, then you can afford it.

There's probably some factors I'm failing to consider there. There's no perfect way to draw the line. But I think that's a pretty good rule.

BeaZt

If you can afford to be on the internet all day you can afford a new C7 lol

rkelon

All payments to income not to exceed 45% (including house), 6 month of expenses in the bank, active 401K, and safe driving record. Have a nice down payment in order not to end up backward in the car, buy from a reputable dealership that does not rip you off (MacMulkin). Newer Corvettes are not assets, they still depreciate. But they depreciate at a slower rate than most cars. So if you take care of it, keep the miles within reason, you will not loose as much money on this cars as you would with utensil grade cars.

jaimeleger

Rad22

I am of the opinion that threads like these are generally started by people who desperately want a Corvette and know in their hearts they can't afford it, but are looking for some sort of approval or voice saying "Yeah, you only live once...Do it!"

What ever happened to the old practice of sitting down with a yellow legal pad, adding up your current monthly bills...including provision for retiring someday...subtracting that from your net monthly income and making a determination, keeping in mind things like roof leaks, frozen exploding water pipes, braces, etc. On top of that, most experts would tell you that you should have at least 3-4 months of monthly income in a liquid account, readily accessible in a "rainy day" fund for illness, temporary disability, etc.

Seriously...grow up!

michaelinmech

^ Is a white or pale green legal pad OK to use . . . . . .

BeaZt

Or a very frugal wife...lol

gofobroke

You simply cannot reconciliate buying a two seat 70 k sports car as a financially responsible decision. It is an emotional decision and therefore requires intangible justifications like " you only live once...get your vette while you can!!!"

drivestwin

I am trying to convince myself and my wife to take the jump into a C7 so I did some calculations.......

We own things for a while(10 years) so I looked at the value of a 2004. It is worth about 50% of what it cost new.

So applying that to the C7.....If we bought one that ran $62000, it would cost us $31000 in depreciation just to have it. That is not considering taxes and insurance. Averaging that out over 10 years and it comes to $8.50 per day just to have it.

That hit me in the face like a sledgehammer when I saw that number. Wow. I have to be sitting really pretty to do that......house paid for, no revolving debt, lots of $$ in the retirement, and lots of $$ in cash. Figuring I've got the first three accomplished but not the 4th.....I'll be buying used in 5-8 years.

$8.50 per day for 10 years....I'm out without lots of cash on hand.

TX Navy Vet

take your income
divide by the number of kids you have living at home, or in college.
if the final number changes from the original number, step down the showroom and look at the Equinox.

michaelinmech

^ Plus $3.50 a gallon fuel & maintenance . . . . . . together with your Taxes & Insurance.

Achmed

I don't think that method applies to many. For example a newly practicing medical doctor who earns in the hundreds of thousands a year but just finished residency so it'll still take a few years to save $700k but he can easily afford it.

Also what about the buyer of a Chevy Spark, I'm sure there are lots of people with less than $130k net worth who can afford to buy a $13k car.

This method would also mean for someone who just graduates from school he must take the bus until he can save $20k or so and buy a $2k beater lol.

lgodom

No joke....but interesting target demographics. One thing for sure is they aren't targeting my income.

My dealer emailed me a copy of the book. He said he emails it to all his customers to review the options before ordering. It's obviously geared toward the sales associate and not the customer. It's about a 1 meg pdf file. I'll be glad to email it to someone who'd like to post it somewhere on the forum???? It also contains links to videos about the car.

Achmed

So anyone who is guaranteed 6 or 7 months of severence pay upon termination can afford it

#1c6

just think of the smokers lol 10 bucks a pack!

R&L's C6

That's a bargain......Less than a pack of cigarettes everyday. I always get $h!t from some of of my coworkers that it must me nice to have money when they see my Vette (as they are sucking on a cigarette)

drivestwin

Yeah, I didn't want to make it too scary, but.....

If you figure driving it 5000 miles....

200 gallons of gas at $3.50 per gallon $700 gas per year or about $2 per day.

Insurance..just quoted it, $419 per year for another $1.14 per day.

Taxes of about $4500 for a year, so another $12.33 per day.

I won't even throw in oil changes and tires and we are now at $24 per day of ownership.

Granted the taxes will go down from there, but still......wow.

Don't get me wrong. I don't think all of you are making a bad choice, I just wish I was in better $$ shape to join you all. And I've got stuff paid off.

I will just continue to look over the forums learning and learning until a used one is within my reality.

GTFD2

If you can go in your mattress and pull out about 74K to pay for the car and not miss it you are good to go.