Another 1st time Corvette buyer!
05-29-2017, 01:54 PM
#1
Racer
Thread Starter
Another 1st time Corvette buyer!
Thank you to the current members and welcome to the new members! I recently went with the 'nuclear option' and made our first corvette a C7. 
We sold a rental property that had been mortgage free for several years, paid the capital gains tax, donated some of the net proceeds, and used a little more of it for a couple of other things - then used the remaining $ to buy the car!
The choice was basically to net several grand a year from an appreciating asset for the rest of our lives - or sell it and buy a depreciating asset right now! LOL
I guess you shouldn't follow my path if building a long term financial empire is your plan but if you want to be smiling ear-to-ear in the here-and-now owning this awesome and beautiful machine is the way to go!
We sold a rental property that had been mortgage free for several years, paid the capital gains tax, donated some of the net proceeds, and used a little more of it for a couple of other things - then used the remaining $ to buy the car!
The choice was basically to net several grand a year from an appreciating asset for the rest of our lives - or sell it and buy a depreciating asset right now! LOL
I guess you shouldn't follow my path if building a long term financial empire is your plan but if you want to be smiling ear-to-ear in the here-and-now owning this awesome and beautiful machine is the way to go!
05-29-2017, 03:56 PM
#3
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Welcome and congrats on the C7.
05-29-2017, 04:31 PM
#4
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Welcome to the forum!
Congrats. on your C7
Congrats. on your C7
05-29-2017, 11:32 PM
#8
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Welcome to the CF!
06-01-2017, 09:53 PM
#11
Instructor
I also pulled the trigger on a unexpected lump sum and wrestled with adding to retirement a lot or paying for a 17 GS vert 3LT - opted with getting the vette and puting the rest into retirement. I am very happy!