Snowwolfe

Before you decide, call your insurance agent and ask for a quote.

Higgs Boson

how much cash do you have in your checking and savings account?

what will life be like if you miss one paycheck? how about 5 paychecks?

what will life be like if you wreck the ZR1 or you have some other unpredicted money drain open up in your life?

don't set yourself up to be car poor or house poor.

spearfish25

Let's put it this way. I make a lot more money, have a lot more left over every month, and I don't feel like I should buy one due to the cost. I know I COULD buy one. I just don't feel like it's a great financial plan for me.

MustOBeenYellow2015Z

Yolo...

Wulverine

Wait a couple years and buy used. Some people can afford to be first on the block, you cannot (myself included).

VetteLex

JMO, if you have to get a $100k loan to buy a sports car you really cannot afford it and frankly should be putting that money in much better places like a home, retirement plan, etc.

Folks who should be buying this car can either pay it all in cash, are getting much lower loan amounts with a larger down payment, or have the money but prefer to get a loan with a lower interest rate and putting the rest of their money in a different investment. In essence, people who should be buying this car are not worried about a monthly payment amount. Anyone having to go on strict budgets to buy a sports car has their priorities in the wrong place and unfortunately there are a ton of these people living with financial stress on a daily basis.

My advice is save your money and go buy a Grand Sport or Z06. I bought a slightly used Z06, saved around $20k, and have been very happy with it. If you already put down $50k, that is a very healthy amount to switch over to a new GS or Z06 with the discounts that can be had right now and not have a ridiculous monthly payment and more reasonable insurance cost.

pika

are you saving $2500-3000 after the estimated ZR1 payment? if so, then it is possible but I still wouldn't recommend it. Definitely don't do it if that amount is before the car payment.

I did something similar to you, bought a Z06 before a house. I live in NJ, property taxes are through the roof and I wanted to get an awesome car before marriage and kids. You can always sell it later. I would recommend go for a Z06 as well, the prices are dropping... wish I waited but car came up with my desired color and options so I bought it. Put 30k down and have a payment around 700 per month. I am kind of regretting the money aspect but when I drive the car it goes away. I wanted to reward myself for attaining a designation that not many people have and is very hard to get - and it came with some nice bonuses at work. I am still able to save 2500 per month and am well above water on the car even if it drops further.

Will this be your only car? A garage is a must. I'd go for a Z06 or even a grand sport - the power is definitely more than enough for me, not sure if you are used to this much HP. You can almost pay it off with that $50k... especially if you go slightly used

EMINENT 1

YOLO.

Ask yourself where you see yourself 5-7 years down the road. If you still think you'll be happy with the ZR1, find the best financing you can get, figure if you can afford it along with insurance with enough to still save monthly and quit depending on others to tell you how to live your life.

Tomorrow is never promised.

Nesch18

dvilin

Good question, can you afford it yes but really a 100k loan for a car should you do it absolutely not.

mirage2991

for every new corvette model, there's always this question....if you gotta ask a forum to know if you can afford something, then you have far bigger things to worry about than buying a ZR1

HPT

If you were front row at Wrestlemania, I'd say you were a baller. Ballers can definitely afford a ZR1.

z edge

Until you have purchased a new home and also a DD for winter / bad weather, this is the only ZR1 you should probably buy:

http://www.legacydiecast.com/2019-co...le-by-topspeed

Socko

My c7 is probably a more expensive car then I should have, based on income. Specificaly considering I still have a bit of my 0% note on my 14 fiesta st. I don't enjoy the bar or drugs or gambling or whatever random crap people do to burn their money. I burn my money on my car. Before the c7 it was a c5 before that it was an sti. If YOU can afford it YOU can afford it, go for it if its what you want. I generally feel like I can afford a car note equal to my yearly income and still do the other stuff I want to do. From math I would say its possible someone earning in the 50-60k range could afford a 100k note if they wanted to. Specifically if they had a paid off house or even just had a roomate.

It is more an issue in your case of if you want to afford it, not if you can afford it. That is a question only you can answer. If you are making 70k take home a year you have way more then enough disposable income to have a 100k car note.

If you buy one, I would think seriously about adding a gmepp before you get past the point you can't. Then your car costs payments, insurance, gas, oil, and consumables. Thats my plan.

3 Z06ZR1

3 Z06ZR1

If your only making 70k forget you will sorry!

spearfish25

I read statements like 'if you make $70k a year after taxes, you have plenty of disposable income for a $100k car' and promptly choke on my own saliva. If your income is $70k a year you most certainly do NOT have the disposable income to justify a $100k car...unless you plan to die young or work until the very day you die of old age.

Always Red Dave

I financed $35,000 on a brand new 2017 Z06 Vert that had a MSRP of almost 100,000 and I thought that was a lot . Financing $100,000 dollars on a new C7 ZR1 UNLESS YOU ARE RICH AND MONEY IS NO OBJECT!

64drvr

Socko

Don't listen to these old rich guys. They didn't have math back in 1940 apparently.