Vel-Yellowc6

I currently own an 05 that I paid cash for, Back in 2010 I financed an 2008 with 7k miles...

Both cars were / are exceptional condition but I do miss my LS3

Nowadays when I wake up Friday Saturday and Sunday and I open that door, hop in that leather bucket seat and press the start button to hear the roaring exhaust notes coming out of the catback on a car that I own outright... Well its easy to say that feeling is so much more satisfying to me than it was in the car which is worth $20k more that the bank owned... The whole morning process was less satisfying knowing that I'm driving a car I can't really (easily) afford to own outright...


What's your opinion? Would you rather have an older model c6 thats paid for or a financed newer model... And why

JerriVette

Paid off is better. All the model years are about the same. No sense in having too many bills.

Keep enjoying that 05 as I'm sure it's a great drive.

That said a few years down the road buy the new c7. I think that corvette will be transformative.

Do that when the time is right for you

narfdanarf

To each there own. I'm very young and it would undoubtedly take me a few years to save up to pay cash for a c6 whereas when I financed it, the payments were so low I don't even realize I have to pay for it. It's like driving a free car.

Don-Vette

As long as you can comfortably make the payments then buy the car you want as long as the interest rate is low. And when you get 0% like I got,to me it's like free money.

JerriVette

Many people live with car payments and debt as part of their everyday life. Debt is truly part of our society. Sometimes it's necessary and sometimes it's not.

Best to chose when. For the original poster since he has a beautiful and fully functional as well as completely debt free corvette it's a nice time to just enjoy the car. The variations of the 6th generation are interesting and exciting. Still for many the variations as great as they are...are not worth the slamming depreciation hit.

My suggestion stands....if your c6 is operating well...just hang back and when the time is right....go for the c7 if you like what you see

jschindler

I have financed many cars over my life, but right now I am not. It depends upon your situation and there is no one right answer. But in general, no payments is better.

ben dover

Cash.

su8pack1

Eppieguy

Seems like a no brainer to me, cash, unless Ally is offering 0% finance rates, then leave your money in the bank ans use thier money.

dvilin

If I can get a 0% loan then that is what I would do and let my cash earn a bit more in the market.

mcandrew67

Cash unless it's 0%, or, make payments for a few years then you own it outright.
I financed my 06 and have owned it outright for a few years now.
If you can make the paymnets, whats the big deal. If you don't blow it on a car payment, you will blow it on something else...

Don-Vette

Once it's payed for your "in the game" so to speak. At least that's what I keep telling myself. Lol

2vette2

My 2013 is financed. A great deal on the price and 1.49% rate when I picked it up in June just couldn't be passed up.

Zogs2011

JerriVette

The original poster has a fully functional and enjoyable paid off c6. I can assure you as nice as the new c6 variations are it does not make sense to buy a newer model. The ls2 is a great motor and this is from a guy with an ls3..

36 hp is nothing

Enjoy youR freedom of no payments. Save your money and when the itch to buy a c7 hits...have the money available.. Not as soon as it releases but when you feel it's time.

Don't get caught up in the hype of zero percent or huge discounts...the newer c6 s are so close to your model it's better to have no payments...

At least after the first 6 months of ownership!

Getting the itch? Do a little inexpensive mod to personalize the feel of your existing ride...it'll keep the fun factor in place for not a lot of money..

Key word for the mod is inexpensive and do NOT get on a modding roll...

Enjoy your 2005 weekend play thing that costs you no money.

red2012

so what you have a car payment. i always have a car payment. to me its a way of life and part of my budget. when i get in my car in the morning i have the same smile whether its paid off or not. my payments are usually 600 to 1000 a month depending on what cars i buy and for me thats well within my budget. like andrew 67 said I'd only blow it somewhere else.

Jim2003

My 03 I financed because GM gave zero down and zero percent financing for 1 month in 03 and my car came in during that time. I took my sick leave buyout, put it n the bank making money and made the payment each month to GM.

For my 13 there was no deal so I wrote a check for the difference between my 03 that I traded in and the 13.

Both options worked for us at that particular time.

P0234

And that is the exact mentality the banks want you to have.

funymuny

"Wants" will always be there. There is a balance between saving/investing for retirement and enjoying toys along the way. Use your freedom of choice wisely.

Dave Ramsey has a saying...live like no one else today so you can live like no one else later (or something like that).

Asking folks on this board what they think does not make you any less responsible for your decisions. I am a firm believer in paying cash for personal/consumable assets. Not always easy when you are starting out, but rest assured it is the best place to be for most folks that work hard for their money.

sikkvettec6

Just depends. If you got a good deal on the vette with bada$$ APR than (in my case) be a little in debt..you're going to blow off the money here and there anyway. But if you can afford pay cash IMO