I think a lot of people buy cars they can't afford
11-29-2015, 01:11 PM
#182
Crazy compared to what? Your head will likely explode when I tell you I bought a new Z06 and financed the entire purchase. Paying 1500/mo at 2%.
I am 32 and no it's not parents money. Got out of residency 2 yrs ago. The car payment is less than 3% of my monthly income. Could've paid cash but with money that cheap, why? Using the money instead for real estate investments/development.
Every person/situation is different. You can't generalize.
I am 32 and no it's not parents money. Got out of residency 2 yrs ago. The car payment is less than 3% of my monthly income. Could've paid cash but with money that cheap, why? Using the money instead for real estate investments/development.
Every person/situation is different. You can't generalize.
That's a healthy income!
11-29-2015, 01:21 PM
#183
11-30-2015, 11:16 PM
#185
HOOK-EM HORNS
Member Since: Aug 2006
Location: Port Aransas, Texas Tx
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St. Jude Donor '08
Everyone manages their money differently. Different strokes as they say. But..the super majority on this site love Corvette's and if you notice a large percentage on this forum have been here many years. Somehow thru thick or thin the majority continue to keep a corvette in the family. So no matter how you do it. It's great. Enjoy them while you can.
12-01-2015, 08:08 PM
#186
Melting Slicks
People also buy cars they don't want. I seen one lady buy two Vettes in one month. She said the Z51 rode to hard and had to much wind noise. Got a non Z51. Some people get excited over new things then get rid of it because they just don't want it. It's everything not just Vettes.
12-01-2015, 08:49 PM
#187
Best way to use credit cards is like debit cards.
Find a credit card that gives great rewards, use it for everything, pay it off every single week and have them pay YOU to use the card.
I cut my debit cards up a long time ago and use only credit cards.
My card gives great cash back (1 - 3%) and if I choose to transfer it straight to my checking/savings account they pay me a 25% bonus on the amount.
So if I transfer $500 of rewards credits to my checking account they will actually put in $625!!!
Find a credit card that gives great rewards, use it for everything, pay it off every single week and have them pay YOU to use the card.
I cut my debit cards up a long time ago and use only credit cards.
My card gives great cash back (1 - 3%) and if I choose to transfer it straight to my checking/savings account they pay me a 25% bonus on the amount.
So if I transfer $500 of rewards credits to my checking account they will actually put in $625!!!
12-01-2015, 10:03 PM
#188
Banned Scam/Spammer
The OP is likely right in some if not many instances. Lots of guys bite off more than they can chew and rack it up on credit. The water heater pops or the dishwasher busts and the house of cards comes down. Time to clear up some debt, the Corvette goes. I've known some cocky 25 yr old punks who work for a dot something or other and are rich on junk stock. It blows up in their faces when it becomes another dot nothing and the hot shot, I'll retire at 35" ends up slingin hash at Bobs Big Boy.
12-02-2015, 01:07 AM
#189
Instructor
12-02-2015, 10:23 AM
#190
Team Owner
Member Since: Oct 2004
Location: altered state
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St. Jude Donor '05
If I had an extra 1000 a month to blow it would be on a mortgage
Some can "truly" afford these and others ride a real thin line just to have.
I guess if ya gotta have it though...
Some can "truly" afford these and others ride a real thin line just to have.
I guess if ya gotta have it though...
12-03-2015, 09:08 AM
#192
Le Mans Master
There actually are legit people with money however a good chunk that don't have. I remember when growing up in this area there was a family next door that had that mentality. They always leased the newest hottest BMW/Mercedes car. Walk into their house and they had a conference table and those white plastic chairs as their dining room furniture.
Gotta show off like you've got it.
12-03-2015, 09:55 AM
#193
Instructor
Well done....well done.
12-03-2015, 12:27 PM
#195
Team Owner
Oh, and I drive my Z06 on long road trips(3,500 miles -6500 miles). Just last June I hit eight national parks in just eight days.
A friend and his wife have a C6 GS and a C7(and an Escalade and a Silverado) and they are in their late 70's. Another friend and his wife has a C4 ZR-1, a C6 Z06, a C6 ZR1 and a C7(plus a bunch of other cars), and they are in their early 80's. I have many friends(100+) that are over 60 years of age that drive Corvettes. They somehow manage to get in/out of them without trading them off for a SUV.
I would be willing to bet that many of those C7's that were traded in on a new Luxury car were because the Vette did not meet the expectations of the owner, thus they got rid of it. Obviously, if they were trading the $70,000 C7 in on a $70,000 sedan/SUV and taking a hit on the deprecation on the C7, not being able to afford the C7 was not the reason for getting rid of the C7.
I personally know of two C7's sitting on a dealer's used car lot that had A8 transmission problems, and were gotten rid of. The owner's(in their 70's) had no problem getting in/out of them.
Last edited by JoesC5; 12-03-2015 at 12:32 PM.
12-03-2015, 12:50 PM
#196
Instructor
I'm 73 with foot, leg and hip problems and I drive a C6 Z06, a 56 Vette(really hard to get in/out of), and a 64 Vette coupe. But I will agree that it is easier to get in/out of my Mercedes daily driver, but not enough of a problem that I have to trade my Vettes in on a sedan.
Oh, and I drive my Z06 on long road trips(3,500 miles -6500 miles). Just last June I hit eight national parks in just eight days.
A friend and his wife have a C6 GS and a C7(and an Escalade and a Silverado) and they are in their late 70's. Another friend and his wife has a C4 ZR-1, a C6 Z06, a C6 ZR1 and a C7(plus a bunch of other cars), and they are in their early 80's. I have many friends(100+) that are over 60 years of age that drive Corvettes. They somehow manage to get in/out of them without trading them off for a SUV.
I would be willing to bet that many of those C7's that were traded in on a new Luxury car were because the Vette did not meet the expectations of the owner, thus they got rid of it. Obviously, if they were trading the $70,000 C7 in on a $70,000 sedan/SUV and taking a hit on the deprecation on the C7, not being able to afford the C7 was not the reason for getting rid of the C7.
I personally know of two C7's sitting on a dealer's used car lot that had A8 transmission problems, and were gotten rid of. The owner's(in their 70's) had no problem getting in/out of them.
Oh, and I drive my Z06 on long road trips(3,500 miles -6500 miles). Just last June I hit eight national parks in just eight days.
A friend and his wife have a C6 GS and a C7(and an Escalade and a Silverado) and they are in their late 70's. Another friend and his wife has a C4 ZR-1, a C6 Z06, a C6 ZR1 and a C7(plus a bunch of other cars), and they are in their early 80's. I have many friends(100+) that are over 60 years of age that drive Corvettes. They somehow manage to get in/out of them without trading them off for a SUV.
I would be willing to bet that many of those C7's that were traded in on a new Luxury car were because the Vette did not meet the expectations of the owner, thus they got rid of it. Obviously, if they were trading the $70,000 C7 in on a $70,000 sedan/SUV and taking a hit on the deprecation on the C7, not being able to afford the C7 was not the reason for getting rid of the C7.
I personally know of two C7's sitting on a dealer's used car lot that had A8 transmission problems, and were gotten rid of. The owner's(in their 70's) had no problem getting in/out of them.
They usually say, she's right.
12-03-2015, 01:32 PM
#197
Team Owner
A couple of weeks ago, I helped my neighbor put up a portable garage and we went to get a bite to eat. We went in his full sized commercial van, that sits up high. I had a problem getting into the van as the steps were too high, and my leg muscles were not strong enough. He had to reach over and pull me into the van.
Getting in/out on my Z06 is a breeze compared to that van that sits up high.
12-03-2015, 11:46 PM
#200
Team Owner
What it means is that my Z06 is a toy and I don't drive it when running errands just to "show off".
I take my daily driver Mercedes sedan when I go to Walmart. I want to blend in with the rest of society's misfits.
I take my daily driver Mercedes sedan when I go to Walmart. I want to blend in with the rest of society's misfits.
Last edited by JoesC5; 12-03-2015 at 11:47 PM.