spdnvet

Before I purchased my Vette, I went onto an auto loan website that has the payment calculator. I did not want a payment over $300 a month for my vette.
I financed around 17K and got a payment of $289 a month for 60 months.

Good luck and I hope you find what you are looking for.

CaBhaal

Like many, I assumed for a long time that a vette was out of reach for me. One day, I made the mistake ( ) of actually putting the numbers into a loan calculator. Then I did a thorough budget of what I had spend monthly, versus what my discretionary spending was.

Verdict: I had gobs of money to spend, but did not know it. A vette was not only within range, but I was able to do so without making sacrifices.

SXY-TME

Did some calculation and even for a used, it won't be the right time to get the car for me. I think anyone can afford anything they want but it's the matter of how important that thing is to them at the given point. Paying 800 a month will mean working a few hours more a week and also cut down on some costs. But you have to think about how you can use that 800/month on something more important.

So in that sense, I can't afford the C6 right now. Maybe when the C7 comes out The idea of 400 ponies has been tickling me around though. Just one more way to push harder for the future. Thanks for all the input guys.

slvr 07

I don't agree that this kind of answer is "worthless" to the original poster. It is making a serious point. In my business, I see people coming in all day who have taken the concept of "credit" to new extremes. They are quickly in over their heads and cannot find a way out. I tell them all exactly the same thing - using credit on luxury items and depreciating assets, like cars, is a fool's errand. It is one thing if you're trying to buy an Aveo to get to work. It is quite another to go out and finance $50k for a C6. I am curious what someone in their early 20's (as many posters in here claim to be) do for a living where they can afford a place to live, food, etc. AND all the costs associated with a C6. These are exactly the people I see everyday, and it really is quite sad to hear their stories. People misusing credit all the time for real estate speculation, luxury purchases, cars...the list goes on and on. And, they are all uniformly getting themselves into trouble.

Bottom line - you don't NEED a C6. You WANT a C6. And, that's fine. But, if you cannot pay for it, then don't put yourself in a hole trying to get a 7 YEAR loan to pay for it.[/QUOTE]
excellant advice, listen to the words of experience, enjoy what you have, pay it off, then look around,

Stinger !!

Some of you guys make that '0' payment sound easy!!

I as well don't owe anything on mine, BUT...in the past 15 years or so of trading and buying and trading and buying...all at a various GM dealers through out Florida...
I figure I have about $500,000.00 in this '07......oh ya its paid for all right and I have two 55 gallon drums full of purchase/trade receipts to prove it!!

Right along side of those drums is another drum full of used crying towels...

Be careful young man as these dam things (Vette's) will become like an un-curable disease!!

Abomination

Wow, just wow. The amount of disinformation going on its no wonder our economy is jacked and American consumers have no savings.

You should have put, in MY OPINION 600 is way to much payment. Do you have any idea what his income is? I pay 600 a month in cell phone bills. I also am making a payment of about 2000 for my vette? In your mind I'm crazy but you have no idea what my income is either.

As for your advice on saving money and putting all your cash in a depreciating asset... wow. If 400 a month is a lot of money for you and your giving away your savings for a car you really need some good investment advice.

I currently have a loan at 4.99 interest, the lowest return investment I have at the moment is a 5.25% CD, the highest is a mutual fund currently pulling about 25%. And guess what, 100% of the payment being made by me is coming from dividends off of cash I kept and didn't put into a car.

400Reasons

Losing 150 bucks a month to the bank for 7 years is a sacrifice, to me anyway. Im sure they cant wait to send that bill every month.

Lots of ways to get to 400 horses without chaining yourself to a 40,000 dollar note. I cant believe the deals on C5s right now

Wayne O

Fortunately I don't finance anything nowadays but it was different when I was 21. Unless its structured through a business....why lease a car? It's like renting a house....you don't end up with anything. IMO a car is more of an expenditure than an investment but I still suggest you buy a car...end up with something for your money. Next, why plan on keeping a car for only 2 years? If you like the car and it's mechanically sound...keep it for a reasonable period of time.

If the car is to be titled in your name I doubt the insurance company will allow it to be insured in your parent's name. Accordingly, you would lose any benefit afforded by your parent(s) receiving a more favorable insurance rate. I'm guessing the premium would be fairly steep for a 21 year old owner/operator. If you actually own the car and your parents indicate they own the car for insurance purposes, there could be a huge problem should there be an accident or a liability issue.

You may not want to consider depreciation into the equation but certainly there is the annual registration fee and maintenance. If you're looking at a 2005....most will be losing warranty coverage at some point in the near future (excepting if you find one with an extended warranty.

I prefer estimating conservatively. Whatever you pencil it out to be, figure it will be more. Don't be 'car poor.' If it's going to be that tight to get behind a C6...don't. I know it's hard to postpone that immediate gratification but wait until you can afford it more easily.

400Reasons

Doesnt sound crazy at all. You are making payments way over the minimum to pay it off early. Thats the point. Its not a debt to income deal, its a finance charge deal. Congrats for being one of the smart ones.

dhend25

C6400hp

They're not but everyone here sure like to toot their horn.
To answer the OP's question, unless you are able to put 15K down you will not get a $400 payment.

C6 NOIR

Being in my 3rd vette which is incidently my 30th car and the 15th convertible, the easy part is paying for it, whether it's out right cash or financing. The hard part is resisting all the mods that come later.

Patman

That kind of bothers me when people like to thumb their noses down on people who finance things. Some of us can't afford to pay cash for things, otherwise we'd be waiting too long. And life is too short to wait for things. Why not enjoy it now? Sure it costs a lot more to finance things, but I consider it money well spent since you can't put a price on enjoying the finer things in life! You might wait 4 or 5 years before you can save the cash to buy the C6, but in the meantime the price keeps going up and life keeps passing you by! You might get hit by a bus and then you've missed out on all that fun you could've been having.

And also, as others have mentioned, if you get a good interest rate you can finance the car and use your cash to invest! If you can get a car loan for 4 or 5% but then your investments earn you 6 or 7% then you're laughing all the way to the bank, literally!

JONS 07

If you have to ask if you can
afford a C6 the answer is:

NOPE

NJAg78

My payment is $0, but I am 51 years old and deserved my toy. As I said a couple of days ago, I probably wouldn't have bought mine if I couldn't have paid cash. I wouldn't however never be so bold as to tell someone else how they should handle their finances, I have financed my share of vehicles. I would advise however to avoid going "upside down" on a car, especially one you only plan to keep "a couple of years". If. God forbid. you neede to get rid of the car you want to be at least able to pay off your note.

But that's me...I could be wrong.

opus1111

I paid cash for mine too. Best option is to save up for it. That not being a good option for most, save up the down payment. (Call me old school.)

Mileage is 16-18 mph w/ mixed city driving, and that's driving HARD. It's very tough to average less than 16 mpg around a city and still get more than 5K miles out of your Supercar tires.

burtonbl103

$ 0

su8pack1

40 years of sweat.

bassvet

If you have to ask don't buy

TommyDeVito

You can't afford it. At 21, a large payment is just ludicrous. Most of these gentleman that own these cars are older than you and they can really afford this car. You are like most (no offense) and trying to buy as much possible car as you can possibly afford. It's the same in the housing market, most people buy the most that they can afford. When rough times hit (few are exempt) you are in a bind that you wish you weren't. If you can't be evened out (not upside down) within 2 years on a car loan then it's a bad idea, very bad. With fuel prices escalating, large payment cars with a small buffer (little discretionary income) is a very bad idea.

Last summer I was sitting at the finance mfr's desk about to sign the dotted line on a Z51 optioned Vette. I was looking at $675 payments for 60 months and decided it was a little too much. Luckily I have a business degree and I also listened to some of the wise financial minded folks on here that got me thinking back to my business classes in college and I walked away from it. I'll have one when the time is right as good things come to those who wait. A Vette @ 21 years old? Where do you go from there? Maybe you are going to be a stock broker on Wall St. and you'll be able to afford a F430 when you are 30, I don't know, but I do think you need to forget about this car right now and those high payments unless you are making a minimum of 80 grand a year.