LiberatedLuis

No not yet I don't invest in anything market related. I don't have any investment accounts, all investments I make are for businesses exclusively, along with a pretty nice savings account! (:

Different time, education is a click away now! lol

She's definitely the funnest car I've owned. It's the first v8 I've owned and driven, the closest car in power that I've owned was a 3.5 l v6 350z. Doesn't compare, but I drive like a grandma unless there's a special circumstance like a long stretch of freeway at night with no cars in sight.

My APR is 4.5% with a monthly payment of 770$ and an insurance payment of 110$. All under my parent's wing, they really trust me lol

It's actually really sturdy! I was more afraid of damaging the spoiler lol

I was wearing some soft jumpers, and I have a nice wax coat over the top... didn't do any harm

rkhegler

So, to the OP. In whose house are you making the video? Do you own your own home in the neighborhood where the video was made? Whose yard is the car parked in?
Who bought you the lap top to start your business? Who made the video? If your business is anything like your video.............? Is the vehicle paid for? What are your insurance payments. What kind of health insurance do you have? Do you have a retirement plan? What savings do you have when the bottom falls out (and like most entrepreneurs, it will)? You made enough money in six months to purchase the car?
You sound like a fairly intelligent young man. What, exactly, is your business? Just asking a few questions.
If it is all true, congrats. Lots of red flags for me. Enjoy the ride.

Always Red Dave

I thought I was young when I got my first one when I was 28 . How time flies by now on #12 and 52 years old and this one is my last one! Congrats and may you own many more!

LiberatedLuis

The house is my parents I do not own my own home (yet). The car is garaged in our home. I have the newest car out of all my family members, the newest car is a 2011 Lexus es350, my dad drives a banged up van. They helped me buy it by cosigning on the financing, they did so because of my good name. No arrests no tickets, responsibility. I bought my computer parts earning a bit of money of the years since I was 13 years old. I made the video, the audio quality is not very good; but it was my first video lol. My businesses are all online based. I do occasionally make sales where I live, but the internet is my primary source of income. The vehicle is financed, insurance is 110 under my parents plan. I'd rather not disclose that. My retirement plan is get as wealthy as I can, saving 10% of every dollar I earn in a savings account. I have bottomed out several times, I have a very good savings account. I buy used items, refurbish, customize, and sell them for a profit on ebay, and my own store using shopify. As well as buy products from Asia using Alibaba, and Aliexpress; and market them using Social Media.

PobreWey

That's perfect for a 2015. Hard to get lower for a used Vette. Great job! Enjoy the car. The silver looks great

Skid Row Joe

New C3 @ 25 for cash here. A LOT of scratch to come up with.

CocoVette

just curious, how much did you have to put down to get that price, and how many years is the loan for?

Skid Row Joe

Best advise here.

Sooner a young guy in his early 20s begins his retirement account, the sooner AND easier it is to become a millionaire.




.

LiberatedLuis

I got a really great deal! I talked the seller down from 45k to 42.5 It was a steal at 5600 miles lol

It'll be a fun challenge!

I didn't put anything down, I cosigned with my parents. They have a great credit score in the high 800's. The loan is for 6 years!

I'm not a fan of the whole compounding game, at least not in a keynesian economy. I prefer to handle my own investments. Passive investments can be good, but active investments that you put grit and hustle into... They can yield far more.

dbirdhouse1

It's genuinely cool to see you blow up the stereotype of the typical Vette Owner (of which I am a part of)....well done young sir, well done

Corvette ED

Congrats on the Corvette. I got my first Corvette a 1967 the last month I was in high school in 1976 I was 18 years old. I paid $3,700 for it. I got a $3,000 loan that my parents cosigned for. When I bought my second Corvette two years later I didn't need a cosigner anymore. At age 24 I bought my first new Corvette a 1982. I now own a 2016 convertible that I bought new it is number 26!!!

1bdvet

Just have fun, and don't caught speeding.

kc stingray

good job and be proud of your accomplishment!

GOC

Congrats on buying your "dream car" at a young age. Like Merkur, on one hand I feel happy for you because it's any car guy's dream to own a car like a Corvette at such a young age.

On the other hand I agree with a few obvious things that many other probably feel as well. By the way, your honesty should be applauded in terms of telling us how much you are paying monthly and the price of the car and all that.

Now $880 for the car payment and insurance a month + gas + maintenance puts you over $1000 a month for transportation. That's a mortgage for some people, especially in states with lower cost of living.

As others have already pointed out, it's great when the money is rolling in. But if it doesn't, that's a big payment for a car to be on the hook for that can become your parents' liability.

I would stay away from any additional expensive purchase for a long time if I were you, at least until you buy your first house and can get your own loan.

You sound like you are smart enough to become successful so work hard and build off your initial success. Take the advice that you get here in a constructive way and don't be deterred or think it's negativity. Trust me, we all thought we knew it all in our 20s and we all could've used some good advice.

Good Luck, enjoy the Vette but respect the car and others on the road!

sTz

Nice ride! Congrats

Steve Garrett

Congrats Luis, welcome to CorvetteForum.

hangman

Congrats on the nice car. But, I’ll be the a$$hole and say it. In my opinion, if you’re living out of your parents home, and taking a 6 year loan that your parents have to co-sign for you to pay for a used car, then you can’t really afford it.

falcon5619

Well said. He also has to keep in mind that he put nothing down on a 6 year loan so he will have negative equity right away, which may need to be factored in if he needed to unload the car in the short term.

So, when I first saw this I was hoping when he said he bought his Corvette that he paid cash or something but nothing down and $1000 a month for a car while living at home? I hope that business keeps rolling.

falcon5619

Yep, should have kept the Corolla and put the $1000 a month in the bank or invested and save for a starter home or invest it in the business. Toys can come later.

LiberatedLuis

That's freaking cool ED! Number 26? What do you mean?

Thanks for the sound feedback! Yea it is pretty expensive, I didn't expect to shellout so much for just an oil change, and it does eat gas. I do have a 2008 Corolla that I daily though! The 'Vette is more of a weekend car lol

I'm not interested in the car so much, as I am the connections I've been able to build having owned the car. It stands out among my peer group, it's more of a marketing prop than anything! Worst comes to worse all my businesses flop, I'm in the rat race, and I'm working at wal-mart!