I love my C5 and If things work out I may be able to keep it when I get a C7 at some point. I was just reading posts in the thread about LT1 comparisons with LT2 and LT3 models. Obviously people have their own reasons for what they buy. I'm getting close to being semi retired, I'm debt free and would like to keep it that way. It looks like I could possibly save up to pay cash for a base model with automatic transmission for an approximate MSRP of about 58K or go all the way to the Z06 with extras for about double that. I would be happy either way but happy sooner with the base model! There are a couple of features I would add if they are available as dealer add ons. I like the rear view mirrors that have turn indicators on them and I like back up cameras. I have the HUD and a couple of other extras on the C5 and that stuff is really not important to me. The C7 will give me 100 more horsepower and an 8 speed automatic compared to the 4 speed automatic I now have. So just the base model will be a nice step up. Even better (and sooner) would be a dealer left over from the previous year or a lightly used model. I'm enjoying the process of exploring the possibilities!

 

While you're saving up, please learn the correct lingo. LT1 is the RPO code for the Stingray's engine. The three trim levels are 1LT, 2LT, and 3LT.

 

I assume you mean side mirrors. I am not aware that C7 side mirrors have indicators in any trim.

 

C7's also have standard backup cameras in all trims. You seem a little uneducated about the C7. I'd advise you to do a lot of research before you purchase. These cars have a lot more options than Vettes had in previous generations. It can be a little overwhelming if you haven't been keeping up with it all.

 

Keep doing your research, especially when it comes to standard equipment and option packages. And nothing wrong with wanting to pay cash for a vehicle as long as you would be happy with what you get.

 

If you configure and order a car make sure you get what you want. Avoid the buyer's remorse thing. I ordered a 2LT with a few things that would normally come with the 3LT package to get it "just right" for me.

 

Nothing wrong with the base coupe if you're not going to do track days.
450 HP should just about cover most of what you may need on the street.
And a paid for car drives so much better than one with payments!!!

 

I'm not sure if there are any financing deals on the C7, however if GM does offer crazy financing like 0% or 1%, then you are better off taking that deal even if you have the cash in hand. You might as well earn higher interest with your money instead of giving it all up front to pay the car in full. My father, who is retired, had enough cash to buy himself a new Volvo last year, but they offered him 0% financing so he jumped all over that deal in a heartbeat!

Just some food for thought here

 

I saw a billboard for Texell Credit Union in central Texas offering 1.09% for new car loans. Can't beat something like that.

 

The 1LT is far from a "stripper." I got the 2LT because I could afford it, and some of the features mattered to me. But if the price of the 2LT package is out of reach, or you don't care about the extras it includes, the 1LT is just as much fun to drive as any other.

That said, C7Joy makes a good point. If you really want what the 2LT has to offer, and "settle" for a 1LT, you may regret it for years.

After owning mine for almost 4 months, I can honestly say I'd probably have been just as happy with a 1LT if I couldn't have justified the price of the 2LT.

Compare the differences between the two packages here:

http://www.chevrolet.com/corvette-st...ecs/trims.html

 

To play the devils advocate, these days it may be better to pay cash. When I bought my car a few months ago, I could have paid cash, but elected instead to pay $35K down and keep the extra money for now. Banks are paying sub 1% interest and the market is volatile. For example, I lost enough money yesterday in the market to more that cover the balance on the car. I may go ahead and pay it off since the economy seems to be tanking again. As a rule, I would agree with you, but times are not typical.

Just another view...

 

I special ordered my 2014, just to keep the cost down... I looked at all the ones on the showroom, and they had $25,000 in options that I did not care about.
I got a Torch Red, 2LT, red calipers, Z51 spoiler and kept the price around $55K (with dealer discount).
As you say, still more HP than my 2004 Z06, so still a step up..

If you really look at the details of Z06, there are things to consider like the tires are not suitable to drive on the street for most people, and you need another set of tires and wheels if you are not going to track the car.

I had cash but borrowed some money on the car only because I still had CD's that paid more interest than the interest on the car loan.. Did not make sense to cash in a 7% CD to pay off a 1.3% car loan.

Added a stage 1 Z06 front splitter to complete the front end... Very satisfied with the car...

 

There is nothing wrong with a base 1LT C7.
Compared to your C5, the C7 has much more standard equipment, is a far better preforming car and will do everything you expect it to.
Imo, a Z06 for ordinary driving around the streets for someone looking to get the Corvette experience and is on a budget is just a waste of money. It is hard enough to come close to using the C7 base cars performance, so you will never use the Z06 level of performance on the street.
Sell your C5 and get a nice C7 base model in either 1LT or 2LT with NPP (performance exhaust). 2LT adds nothing to performance, but may appreciate its heated/cooled seats and heads-up display - which are its two big additions over 1LT.

 

Hey Bigbob

I am a absolute car nut, I have a 15 base 1lt car but with a manual trans. Am very satisfied with the base car. Its more car than you can amagine.

 

On the factory tour back in July there were a few on the line that did have the turn signals on the side mirrors. The tour guide said that those were headed overseas to somewhere where they were required. The US Models do not have them. Since they do exist, I'm wondering if they could be ordered and retro-fitted to a US Spec car? I suspect if you could they would be expensive and far more than I would want to pay for them.

 

But you only would "lose" that money if you cashed out yesterday. If you ride it long term, it will bounce back, so in the long run I truly believe it is always preferable to take a 0 or 1% (or even a 2-4%) finance rate on a car and invest your money. In the 4-5 year period of that loan you can virtually guarantee that with proper investments you will make at least an average of 5% return per year. And somebody investing today has the potential to make a lot more when things quickly recover from this market correction.

 

Even after the disaster in 2008/2009, everything bounced back and my rather conservative investments are worth at least 40% more now than they were in 2006. Of course about two weeks ago I could have said 54%. Half empty or half full? I'm still up overall and I've got 5 1/2 years before I'm hoping to retire so I'm letting it ride.

Also: Still making those monthly contributions now which are buying at the lower prices

 

If you dump the C5 (what's the point in keeping it if you will have a C7?) then you can buy whatever you want.

 

If you're willing to travel there are deals on unsold C7s. I bought an unsold Z51 3lt for $60k. It was a 14 with 100 miles on it. The unsold C7s are usually at rural dealerships in small communities. Im picking up my car in Iowa.

 

Well, I purchased my 2015 base model with a clear roof and A8. Paid $52,000. (I would recommend selling your C5 outright. The dealer will give you jack squat for a trade.) Have not regretted it one bit. It is so much better than my C5 was that there is no comparison. I did not get the HUD or the NAV because I did not think I needed them. If you look around, you can get some really cheap financing.