What are your monthly payments on these gals?
10-15-2013, 03:03 AM
#42
OP was asking a serious question that doesn't require sarcasm. Having said that, I fully expected and would have been shocked not to have seen the "Payments! Payments!" comments.As an aside I would say that if GM wants to expand into a younger crowd (and they desperately need to do so) they will undoubtedly need many more payment buyers. For tens of millions of buyers this is a way of life. Why should Corvette owners be any different?
10-15-2013, 06:57 AM
#45
Melting Slicks
10-15-2013, 07:04 AM
#46
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OP was asking a serious question that doesn't require sarcasm. Having said that, I fully expected and would have been shocked not to have seen the "Payments! Payments!" comments.As an aside I would say that if GM wants to expand into a younger crowd (and they desperately need to do so) they will undoubtedly need many more payment buyers. For tens of millions of buyers this is a way of life. Why should Corvette owners be any different?
10-15-2013, 07:08 AM
#47
10-15-2013, 08:40 AM
#48
This is what he said!!!!...........
"I was just curious to hear from some of you so I could get a figure on a monthly payment depending on down payment etc.... Did some pay cash outright for them? Thanks guys "
Maybe CASH is a four letter to you, so you could not read that question HE asked ..."Did some pay cash outright for them? "
10-15-2013, 09:03 AM
#51
Le Mans Master
Paying cash is good if you can. But, then, if you can pay cash, you also probably qualify for the lowest of interest rates. Now, if I could put that money somewhere where it would earn more than the interest rate on the loan, wouldn't it be better to hold on to the cash and borrow on the car? Of course, it might depend on how income is recieved and how monthly budgets are met. If income comes in lump payments a few times a year, and the monthly expenses are paid via line of credit until then, perhaps adding a monthly payment is not a good idea.
Also consider, that if GM relied only on cash buyers, as some say you should only pay cash for a 'toy', the Corvette would've been scrapped a long time ago. As it stands, looking at the calculator, if you ordered a minimally optioned car and put 20% down/clear trade payment should be in the $700-$800 range.
Also consider, that if GM relied only on cash buyers, as some say you should only pay cash for a 'toy', the Corvette would've been scrapped a long time ago. As it stands, looking at the calculator, if you ordered a minimally optioned car and put 20% down/clear trade payment should be in the $700-$800 range.
10-15-2013, 09:33 AM
#52
Le Mans Master
Now back on topic.
10-15-2013, 10:04 AM
#53
I was reading this thread from the beginning and stopped at Doc's post because I saw his UNCALLED for comment..
" If you're not making a payment ...move on to the next thread."
10-15-2013, 11:41 AM
#55
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Wow, 3 pages of BS lol. Only a selected few actually answered the OP buy saying they paid cash but then they are mocked for answering the question. Only on corvette forum!
10-15-2013, 11:59 AM
#56
10-15-2013, 12:01 PM
#57
Le Mans Master
Whether I or any others have paid cash or not is no one's business.
To his main inquiry, 5,000 people could post 5,000 different monthly payment amounts and that would not help the OP one iota. Payments are determined by the cost of the vehicle, taxes, license fees, etc. less cash and trade down-payment to get the amount financed. Then the payment is a function of interest rate and how long a note is carried.
I was polite stating it was an 'unusual' question. Actually, it was a question with no answer that would ever be of value to the OP.
10-15-2013, 12:10 PM
#58
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Last edited by flyinguy71; 10-15-2013 at 12:13 PM.
10-15-2013, 12:21 PM
#59
Race Director
Being able to afford a car /= being able to make payments.
That stated, if you can afford to buy your car outright, generally you should have good enough finances to get a good interest rate on a loan.
I can easily qualify for a loan ~2%. My investments at worse, return 6% annually. Throwing that extra cash to avoid a payment is just dumb. What you should do, is put enough down as to get a payment suitable for your income. The 'rule of thumb' is 20% of your gross income. So if you make 100k a year, you should be looking at financing $20k for a car.
For the Corvette, that insinuates that if you want a fully loaded Z51 @ around $72k out the door, expect to throw down $52k, and finance the rest. $20k @ 1.99% for 60months = about $400 a month payment.
That stated, if you can afford to buy your car outright, generally you should have good enough finances to get a good interest rate on a loan.
I can easily qualify for a loan ~2%. My investments at worse, return 6% annually. Throwing that extra cash to avoid a payment is just dumb. What you should do, is put enough down as to get a payment suitable for your income. The 'rule of thumb' is 20% of your gross income. So if you make 100k a year, you should be looking at financing $20k for a car.
For the Corvette, that insinuates that if you want a fully loaded Z51 @ around $72k out the door, expect to throw down $52k, and finance the rest. $20k @ 1.99% for 60months = about $400 a month payment.
10-15-2013, 12:36 PM
#60
Race Director
