Smarter to buy a Z07 or Zr1? - Interesting Financial Scenario
#1
Smarter to buy a Z07 or Zr1? - Interesting Financial Scenario
Hi everyone-
Interested to hear some of your feedback on this one..
The company I work for offered to contribute $1000 dollars/month toward my Corvette car payment for as long as I'm employed.
Before this generous offer I was focusing on a low mileage '19 Z07, but now I have fallen in love with the ZR1/ZTK and I am heavily considering bumping up.
To layout the numbers easy let's say a low mileage Z06/Z07 is 90-100K ($1000-$1200) payment, and the ZR1 I'm looking at is around 135K ($2000-$2200) payment..
With the monthly car stipend taken into account, would the ZR1's difference in long term value and appeal over a Z06 move the needle that much?
Does it make sense to put the smallest amount down payment to take advantage of the monthly stipend? (I actually prefer to finance in general over handing over a lump sum.)
For those of you that owned both, is the ZR1 that much enjoyable over the Z06?
I am not expecting any returns from anything that has an engine and wheels , this is just more out of curiosity on what you would do..
Thank you for the feedback!
Interested to hear some of your feedback on this one..
The company I work for offered to contribute $1000 dollars/month toward my Corvette car payment for as long as I'm employed.
Before this generous offer I was focusing on a low mileage '19 Z07, but now I have fallen in love with the ZR1/ZTK and I am heavily considering bumping up.
To layout the numbers easy let's say a low mileage Z06/Z07 is 90-100K ($1000-$1200) payment, and the ZR1 I'm looking at is around 135K ($2000-$2200) payment..
With the monthly car stipend taken into account, would the ZR1's difference in long term value and appeal over a Z06 move the needle that much?
Does it make sense to put the smallest amount down payment to take advantage of the monthly stipend? (I actually prefer to finance in general over handing over a lump sum.)
For those of you that owned both, is the ZR1 that much enjoyable over the Z06?
I am not expecting any returns from anything that has an engine and wheels , this is just more out of curiosity on what you would do..
Thank you for the feedback!
Last edited by hayabusagsxr; 10-03-2020 at 03:18 AM. Reason: Formatting
#2
Le Mans Master
First, your Z06 cost is a bit high. A '19 Z07 is going for right around 75k. Which basically means with very little down payment you would have a free car, which is tough to beat (ps, that's a HELL of an awesome job perk!). Let's say a 55k delta to a ZR1, that's an additional ~800/mo out of pocket for the upgrade. Now if that is worth it or not is where it gets tricky. For me, the difference between my previous 2015 Z07 and my 2019 ZR1 felt significant. More than just 100hp, the chassis is so much more refined, it sounds better, along with the cooling if you plan to either track or mod the car. One thing worth noting is that the '19 Z06 got many of the refinements which made the ZR1 considerable better to drive. So a '19 to '19 comparison is probably somewhat closer than what I experienced. But, the looks of the ZR1 also really grabbed me, I just love the road presence.
But for me, it was mostly an emotional decision. It's not like any Vette is something you need, so after owning my C7Z and 3 highly modded C5s, which combined I drove for over 200k miles since the year 2000, I just couldn't resist owning the ultimate version of the front engine, manual transmission Corvette that I love.
But for me, it was mostly an emotional decision. It's not like any Vette is something you need, so after owning my C7Z and 3 highly modded C5s, which combined I drove for over 200k miles since the year 2000, I just couldn't resist owning the ultimate version of the front engine, manual transmission Corvette that I love.
#3
Where do I apply? Sweet perk indeed!
Traded my Z06 for the ZR1, no regrets.
How long do you intend to work there? If the company will pay an unlimited amount up to the cost of the car seems like getting the most expensive,i.e., ZR1 would yield the greatest return for you no?
Happy searching!
Traded my Z06 for the ZR1, no regrets.
How long do you intend to work there? If the company will pay an unlimited amount up to the cost of the car seems like getting the most expensive,i.e., ZR1 would yield the greatest return for you no?
Happy searching!
#4
Racer
The ZR1 is 32% more enjoyable than the Z06.
#5
Le Mans Master
If you put 12,000 miles/per year on the car than the Z06. The ZR1 is more rare with its less than 3,000 units. It is the new L88 (in about 50 years). I would pick the ZR1, but I'm biased. The ZR1 is the 4 wheel version of the Hayabusa.
#6
Moderator
With that sweetheart deal, it would be the ZR1, no question.
#8
Burning Brakes
Do you plan to put anything down? If not I would go for the 19 Manual Z06/Z07 loaded,if you could find one! You are looking at a free 12K a year with probably Nothing coming out of your pocket except gas and insurance, if you can get a 19 at ~ 90K that would still take over 7 yrs to pay off and by then you will probably want something else that catches your eye.To find a 19ZR1 man,ZTK, 3ZR the cost will be ~135+, great car but putting miles on it,tracking it will devalue it plus to pay off 135+ at 12K a year would be ~11+ yrs. Plus your out of pocket of ~800+
If your younger go for the Z06, if your older and just a waxer and dont plan to track it(like me) get the ZR1.
If your younger go for the Z06, if your older and just a waxer and dont plan to track it(like me) get the ZR1.
Last edited by ZR1OUS; 10-03-2020 at 06:50 PM.
#9
Racer
Do you plan to put anything down? If not I would go for the 19 Manual Z06/Z07 loaded,if you could find one! You are looking at a free 12K a year with probably Nothing coming out of your pocket except gas and insurance, if you can get a 19 at ~ 90K that would still take over 7 yrs to pay off and by then you will probably want something else that catches your eye.To find a 19ZR1 man,ZTK, 3ZR the cost will be ~135+, great car but putting miles on it,tracking it will devalue it plus to pay off 135+ at 12K a year would be ~11+ yrs. Plus your out of pocket of ~800+
If your younger go for the Z06, if your older and just a waxer and dont plan to track it(like me) get the ZR1.
If your younger go for the Z06, if your older and just a waxer and dont plan to track it(like me) get the ZR1.