Will falling stock market keep you from buying C7?
09-02-2015, 09:33 AM
#21
Instructor
Nope. Bought mine last week and haven't looked back. While I do have money invested, I do not look at the daily, weekly, monthly or even quarterly performance.
When the market is volatile, I intentionally to not follow it. I am lucky that I have age on my side and I have always invested for long term performance. If we lose 10-20% now, it will come back 20-30%
I also am always adding money into the market. Sometimes I add high and it goes down, while other times I add low and it goes up.
Either way, I love the new 2016 C7 sitting in my garage!
When the market is volatile, I intentionally to not follow it. I am lucky that I have age on my side and I have always invested for long term performance. If we lose 10-20% now, it will come back 20-30%
I also am always adding money into the market. Sometimes I add high and it goes down, while other times I add low and it goes up.
Either way, I love the new 2016 C7 sitting in my garage!
09-02-2015, 09:50 AM
#22
Pro
The stock market and buying a car are not necessarily related unless you are within a couple years of retirement or already retired. Personally I'm still working and if all goes according to plan will retire in about 5 1/2 years. My retirement funds are what's in the markets while my current salary is what pays for the car. So, since the car will be paid off long before my 5 1/2 years are up, what the market is doing isn't that relevant.
The markets will come back. They always do. Also, paying cash? Not always as great an idea as it sounds. With interest rates and inflation low, if you can make at least 2% on your money you are better off keeping the cash. Then you always have the option to pay off the loan, but in an emergency you still have your cash to call on.
The markets will come back. They always do. Also, paying cash? Not always as great an idea as it sounds. With interest rates and inflation low, if you can make at least 2% on your money you are better off keeping the cash. Then you always have the option to pay off the loan, but in an emergency you still have your cash to call on.
09-02-2015, 09:52 AM
#23
Le Mans Master
For some with margin accounts if the stock market takes a hit of 20-30% then they will liquidate and there goes the $ for that Corvette.
Most tend to buy stocks when prices are high like they are now and trending since 2009.
Most tend to sell stocks when prices are low like in 2008...right at the bottom.
My `15 Z06 is at rest in the garage!
Most tend to buy stocks when prices are high like they are now and trending since 2009.
Most tend to sell stocks when prices are low like in 2008...right at the bottom.
My `15 Z06 is at rest in the garage!
09-02-2015, 12:55 PM
#24
Race Director
For some with margin accounts if the stock market takes a hit of 20-30% then they will liquidate and there goes the $ for that Corvette.
Most tend to buy stocks when prices are high like they are now and trending since 2009.
Most tend to sell stocks when prices are low like in 2008...right at the bottom.
My `15 Z06 is at rest in the garage!
Most tend to buy stocks when prices are high like they are now and trending since 2009.
Most tend to sell stocks when prices are low like in 2008...right at the bottom.
My `15 Z06 is at rest in the garage!
If the market drops that much going into a Bear Market, it will be a leading indicator of a national recession which will cause new car sales to slump. We are about due for that Bear market.
09-02-2015, 01:10 PM
#26
Melting Slicks
I'd give up food first.
09-02-2015, 01:18 PM
#27
Safety Car
I bought mine several months ago considering how well the stock market had done, so if I were considering it today, considering how much my net worth has dropped in the last month, I would probably wait.
09-02-2015, 02:28 PM
#28
Drifting
70k is a lot of money to spend on a car even in the best of times. As many buyers of C7s are car enthusiasts, their purchases are largely discretionary anyway, but with the recent drop in wealth and continued uncertainty of the market, are you still inclined to buy that new Vette?
09-02-2015, 02:32 PM
#29
Melting Slicks
Reality is there is always uncertainty in the stock market. You never know what event is going to trigger the next sell off. Sometimes the event just shows up out of nowhere like 9/11. The market should only be looked at as a long term investment and if you cant afford the pain your better off elsewhere.
09-02-2015, 02:37 PM
#30
Race Director
Member Since: Sep 2013
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Tech Contributor
IF the market continues to tank, and we have a 20 to 30% correction, that becomes semi permanent, you can be guaranteed that many of the retirees working off their recent increases in their investments will postpone/stop buying high-end stuff. It happened in 2008 with boats and cars, and it'll happen again. I don't expect many here to echo these sentiments but it is the truth. For the people that treat this just like a car, dont read forums and such, there could be a significant impact.
Last edited by Glen e; 09-02-2015 at 02:44 PM.
09-02-2015, 03:14 PM
#31
Melting Slicks
IF the market continues to tank, and we have a 20 to 30% correction, that becomes semi permanent, you can be guaranteed that many of the retirees working off their recent increases in their investments will postpone/stop buying high-end stuff. It happened in 2008 with boats and cars, and it'll happen again. I don't expect many here to echo these sentiments but it is the truth. For the people that treat this just like a car, dont read forums and such, there could be a significant impact.
09-02-2015, 03:51 PM
#32
Race Director
Member Since: Oct 2011
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St. Jude Donor '16-'17,'22,'24
Depends, if the market seriously tanks, yes, I'll just stay with the C5. Otherwise this might be the time to buy. A few more weeks will tell.
09-02-2015, 04:13 PM
#33
IF the market continues to tank, and we have a 20 to 30% correction, that becomes semi permanent, you can be guaranteed that many of the retirees working off their recent increases in their investments will postpone/stop buying high-end stuff. It happened in 2008 with boats and cars, and it'll happen again. I don't expect many here to echo these sentiments but it is the truth. For the people that treat this just like a car, dont read forums and such, there could be a significant impact.
.....After 31 years in the investment world with a major wall street brokerage firm, the market is a monster and can chew you up and spit you out when you least expect it. Glad I paid cash for my 2015 C7....no payments, no interest.
09-02-2015, 07:01 PM
#34
Melting Slicks
This is what I did about 14 years ago (right after I bought my C5)....and the gains from several really good picks then were the basis of the C7 purchase last year ��
09-02-2015, 08:07 PM
#36
Nope....but the lack of interior room for tall people will! (Sorry...couldn't resist.....I voiced this to the Chevrolet engineers at Carlisle again this year...third year in a row. I know...old story. Sorry).
09-03-2015, 01:51 AM
#39
Base Price is $54k not $70K BTW, Best Value around.
My business partner paid $55k for a square (Truck for us sports car guys)
Everything is Cyclical, so why try planning something you want when you can afford it or finally or afford it, depending on your case. Life's short, stuff happens, get, enjoy it, while you can!
My business partner paid $55k for a square (Truck for us sports car guys)
Everything is Cyclical, so why try planning something you want when you can afford it or finally or afford it, depending on your case. Life's short, stuff happens, get, enjoy it, while you can!
09-03-2015, 06:44 AM
#40
I've already got my C7 but if I didn't have it a falling market wouldn't stop me from getting one. The only reason for me to pay attention to the market on a day to day basis is to be able to buy when prices plummet.