To Z or not to Z....
07-16-2015, 12:14 PM
#1
To Z or not to Z....
Alright guys I'm having a dilemma and value your input so here it goes...
I currently own a 14' 1Lt (my avatar) with $15k worth of go fast goodies making 655whp...
My dealer recently agreed to give me %100 what I paid for it 1.5 years ago leaving me out the $15k in parts if I trade it in on a 16' Z06.
My payment only changes by $50 to make the trade (Lotta equity in my 14')
Not going to lie, I'm sorta sentimental and attached to my 14' lol we've had some good times...
Would you trade in the 14' for a 16' Z or just keep the 14'? From a financial aspect the only difference is my principle balance increases by $30k but the payment doesn't...
Erghhhh I'm stuck...
Opinions wanted!
Thanks!
I currently own a 14' 1Lt (my avatar) with $15k worth of go fast goodies making 655whp...
My dealer recently agreed to give me %100 what I paid for it 1.5 years ago leaving me out the $15k in parts if I trade it in on a 16' Z06.
My payment only changes by $50 to make the trade (Lotta equity in my 14')
Not going to lie, I'm sorta sentimental and attached to my 14' lol we've had some good times...
Would you trade in the 14' for a 16' Z or just keep the 14'? From a financial aspect the only difference is my principle balance increases by $30k but the payment doesn't...
Erghhhh I'm stuck...
Opinions wanted!
Thanks!
07-16-2015, 12:17 PM
#2
Race Director
DO IT 
Last edited by C8Jake; 07-16-2015 at 12:51 PM.
07-16-2015, 12:31 PM
#5
Ok you guys are twisting my arm lol (more like telling me what I want to hear haha)
Good points you guys bring up.
The length of payments does increase by 20 months...
But
The Z should hold value better/longer than a supercharged 14' 1Lt...
Think I'm going to do it... you only live once huh?
Good points you guys bring up.
The length of payments does increase by 20 months...
But
The Z should hold value better/longer than a supercharged 14' 1Lt...
Think I'm going to do it... you only live once huh?
07-16-2015, 12:34 PM
#7
Instructor
Ok you guys are twisting my arm lol (more like telling me what I want to hear haha)
Good points you guys bring up.
The length of payments does increase by 20 months...
But
The Z should hold value better/longer than a supercharged 14' 1Lt...
Think I'm going to do it... you only live once huh?
Good points you guys bring up.
The length of payments does increase by 20 months...
But
The Z should hold value better/longer than a supercharged 14' 1Lt...
Think I'm going to do it... you only live once huh?
you only live once
07-16-2015, 12:37 PM
#8
Le Mans Master
Member Since: Jul 2015
Location: Northern California
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St. Jude Donor '15
07-16-2015, 12:40 PM
#9
If you want it and can afford it, do it, like others have said you only live once!
07-16-2015, 12:41 PM
#10
Team Owner
No reason not to do it.
07-16-2015, 12:49 PM
#11
Melting Slicks
Member Since: Oct 2010
Location: Fair Oaks, California
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2017 C7 of the Year Finalist
you will have payments the rest of your life. If not this car, it will be the next. Go for it. the car will be 20 months newer as will the additional payments. no harm , no foul.
07-16-2015, 12:52 PM
#12
Melting Slicks
I'll be the buzz kill. If it was a cash deal I'd say sure, but if you're gonna owe another $30k after you spent $15k to make your existing car go faster it doesn't make sense to me. It's a toy and I'm just not into financing something like this. What are you honestly gonna get out of the Z that you can't with your existing car? Z makes less power, but looks a little meaner, has more bragging rights and maybe more traction depending on what you were able to stuff under the a$$ end of the Stingray.
If you buy this car you'll last about a week before you're gonna want to up the power level to be like your existing car. How much to do that? Probably fairly cheap on the C7 Z, but you're still gonna be throwing some additional money at it. I say keep what you got at least until you own 100% of it.
If you buy this car you'll last about a week before you're gonna want to up the power level to be like your existing car. How much to do that? Probably fairly cheap on the C7 Z, but you're still gonna be throwing some additional money at it. I say keep what you got at least until you own 100% of it.
07-16-2015, 12:59 PM
#14
Le Mans Master
Are you crazy?!?! DO IT!!!!
07-16-2015, 01:10 PM
#15
Race Director
What is the interest rate? You are loosing 15K and interest over the life of the loan. I would do a search on blue book value of your current car to get a feel for the deal, exactly what is the value of your car without mods. A car with mods doesn't fair well deprecation/value wise. Maybe you would do better if you sold it private.
07-16-2015, 01:27 PM
#16
Melting Slicks
I'll be the buzz kill. If it was a cash deal I'd say sure, but if you're gonna owe another $30k after you spent $15k to make your existing car go faster it doesn't make sense to me. It's a toy and I'm just not into financing something like this. What are you honestly gonna get out of the Z that you can't with your existing car? Z makes less power, but looks a little meaner, has more bragging rights and maybe more traction depending on what you were able to stuff under the a$$ end of the Stingray.
If you buy this car you'll last about a week before you're gonna want to up the power level to be like your existing car. How much to do that? Probably fairly cheap on the C7 Z, but you're still gonna be throwing some additional money at it. I say keep what you got at least until you own 100% of it.
If you buy this car you'll last about a week before you're gonna want to up the power level to be like your existing car. How much to do that? Probably fairly cheap on the C7 Z, but you're still gonna be throwing some additional money at it. I say keep what you got at least until you own 100% of it.
If I ever did SC my car it would have to be something like Callaway, you pay more but it doesn't hurt resale like it seems most other SC conversions do (just my opinion).
Last edited by cheapthrills; 07-16-2015 at 01:30 PM.
07-16-2015, 02:20 PM
#18
Pro
100% of what you paid for it?!?!?!?!!?!? Nooooooo!!!!
OP would lose $15K on the mods. I don't know how much your sales tax is or how it works but where I live its 6.5% of the difference between trade in and new car. i.e. if you bought the Z for 100K and got $70K on the trade you would pay tax on $30K or $1,950. Then you have vehicle tax, title and license. Where I live, on the Z that would be around another $1000.
So just on those few things its really more like $18,000...and then he owes $30K more even after all that?!?!?!
I guess everyone has to make their own judgement about what its worth. But to me, making the decision to do all the mods would be basically a decision to keep the car for the long haul. Surprised the dealer would give that good a trade on it as mods generally constitute personalization...which may be worth it to the owner. But then the car is personalized to that particular owner which for a dealer = bigger risk he won't be able to get his money back out of it.
OP would lose $15K on the mods. I don't know how much your sales tax is or how it works but where I live its 6.5% of the difference between trade in and new car. i.e. if you bought the Z for 100K and got $70K on the trade you would pay tax on $30K or $1,950. Then you have vehicle tax, title and license. Where I live, on the Z that would be around another $1000.
So just on those few things its really more like $18,000...and then he owes $30K more even after all that?!?!?!
I guess everyone has to make their own judgement about what its worth. But to me, making the decision to do all the mods would be basically a decision to keep the car for the long haul. Surprised the dealer would give that good a trade on it as mods generally constitute personalization...which may be worth it to the owner. But then the car is personalized to that particular owner which for a dealer = bigger risk he won't be able to get his money back out of it.
07-16-2015, 02:34 PM
#19
Safety Car
Member Since: Oct 2012
Location: Austin Texas
Posts: 4,794
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St. Jude Donor '15
I'll be the buzz kill. If it was a cash deal I'd say sure, but if you're gonna owe another $30k after you spent $15k to make your existing car go faster it doesn't make sense to me. It's a toy and I'm just not into financing something like this. What are you honestly gonna get out of the Z that you can't with your existing car? Z makes less power, but looks a little meaner, has more bragging rights and maybe more traction depending on what you were able to stuff under the a$$ end of the Stingray.
If you buy this car you'll last about a week before you're gonna want to up the power level to be like your existing car. How much to do that? Probably fairly cheap on the C7 Z, but you're still gonna be throwing some additional money at it. I say keep what you got at least until you own 100% of it.
If you buy this car you'll last about a week before you're gonna want to up the power level to be like your existing car. How much to do that? Probably fairly cheap on the C7 Z, but you're still gonna be throwing some additional money at it. I say keep what you got at least until you own 100% of it.
the duck got a point here.
