4thC4at60

I bought my first Corvette at 22. My next two cars were Porsches. Then there was a host of cars in the ensuing years.

I went back into Corvettes at age 60 - 14 years ago and have used them as daily drivers ever since. Like a couple of other posters have said, I'm pretty bored with the my C7 - got 21,000 miles on it - so, I do drive it. But it just does _everything_ too well....yawn.

I had a CTS-V coupe that I wish, now, I'd kept.

I have an old (1988) Ferrari that I mostly DD these days... it's never boring.

Robert Heinlein in his book _The Notebooks of Lazarus Long_ wrote: "Budget the luxuries first." I agree - I'm 74.

JerryU

That's the American way! Buy on credit, work hard to pay for the debt, maybe two jobs. Keeps you working and economy going!

efarley

I just turned 31 and I can easily afford my payments so not all young guys who buy it can't afford it Although my payments are only $780 a month so they're not exactly breaking the bank

WhiteA8C7

$780 is a lot for a car payment.

DCortez

Good point. We plan on driving the crap out of ours ... together

roadsterboy

HA, I bought my '16 not for its performance, styling or looks, but to simply tell the world I have a huge pee pee.

dvilin

That is putting it mildly, $780.00 a month for a car payment is crazy.

1SG_Ret

My litmus test on a car's affordability, If I can't pay for it cash, I can't afford it.

pittperson

Not enough info given to determine whether $780/month is a lot. Is it a 2 year loan or a 10 year loan? How much was financed, $10,000 or $80,000? Who knows, $780/month could be a steal.

Nosferatu

I must have missed the memo owning two Corvettes and under 35

2015 Stingray bought new and a C6 I've put more money into on modifications than I'm proud of but damn...too poor for me to do all of that (see signature)...



I was poor in my 20s because...college/med school/residency but I'm sure as hell making up for lost time enjoying my cars.

There's multiple reasons for selling a car that's relatively new beyond the one assumption that it's young poor people...

Are there a lot of poor young people? Yes there are, however, there are a good chunk of us who make the right decisions to put ourselves financially in a good position. I've seen plenty of old folks who made poor life decisions and are struggling to make ends meet at a point in their life where it's too late to make a change. It goes both ways.

roadbike56

Well, if there are some folks out there who bought over their heads, there's not a lot of C7 owners who did. Used prices are high. So high that it makes zero sense to buy a plane jane 14 or 15 compared to a new 16 especially if you take into account the cost of the warranty time lost. I know, I'm out there looking.
Is it possible some of the used C7s are out there because you can sell one for almost what you paid for it so why not?

ratman6161

Everyone here seems to suffering from the same disease I find on nearly every forum I participate in, weather its cars, trucks, technology, or anything else. Its the "everybody should be the same as me" mental illness. Basically everyone tends to look at their own situation and figures out what is best for them....but then is totally unable to accept that someone else does the same assessment and comes up with a different answer.

To see this in action, just go on any technology forum where they are discussing mobile devices. Start a thread titled "iPhone is better than Android" (actually you wont have to start one as there will already be plenty) and sit back and watch the fun. When that flame war finally peters out, start another one called "Android is better than iPhone" (but you won't have to do that as there are plenty of those too) and once again sit back and watch the flame war progress.

I see this same syndrome on this forum over an over and over and over...on many topics. Fiance vs cash, should I get a catch can, what oil should I use, .....its monotonous. Endless meaningless flame wars. Nothing will ever be settled because everyone has already decided what is best for everyone = what is best for them.

Glen e

well said, so much "my way is the only way, you should do what I do"...and then jump to some huge conclusion that is totally wrong...opinion becomes fact....the other thing is people don't read the threads, they read the OP and respond - even though the exact same thing is said at least 3 times from other posts....

SK360

While I don't pay $780 we still have a healthy payment at 3.1% for 75. We put down enough cash that I will never be upside down on the loan, the payment is easily affordable for us with plenty going to retirement and savings still with 0 student loan and 0 credit card debt.

Sure the money could go other places and I didn't "need" a Corvette at 30, I don't "need" to go through a set of tires in 7 months at AutoX and HPDEs but I could get hit by a bus tomorrow, next week, next year and never see my "I'm saving for the future" plan come to be. My father passed at 39 and I have lost 3 close friends with the oldest being 32, needless to say I no longer take time for granted and live every day to it's fullest. Time is the one resource we can't get back.

dmhines

Car Payments are relative ... $780 would be a lot for a $20K Honda Civic ... but not for a $80K C7 ... and if the Interest rate is low ... who cares what the payment amount is?

LDYSTIG

Another young owner checking in! I'm at the ripe age of 26, put a sizable down payment towards my Vette and financed $40K. I played the real estate game and won, made a crap ton of money and paid my Vette off in April of this year. No family money and no assistance to pay for my Vette, I just have a great job and do not live a frivolous lifestyle. My parents taught me financial lessons in my teens and I have always been an excellent saver and financial planner. So much so that my career is in financial analysis

I think Glen E said it best - these cars are "toys" for most so if times get tough, they are the first to go.

OnPoint

Entertaining thread.

efarley

Sure if we're talking about at $20,000 colbalt that's a huge payment, for a $84,000 vette that's a damn steal.

Rowteree

More like 60k+ Up front for a car is crazy.

I don't believe it's in anyone's best interest to dump everything that they've worked hard for into a depreciating asset

The money can be used much more wisely.

Not saying drag out the terms of your loan, cause you'll end up paying more in interest, but allow yourself to make smarter investments instead of blowing 75k in a vette that will almost never likely appreciate in any way

Pay it how ever you can, drive it, sell it, or keep it. Its simple

a striper

A lot of sound advice here but I guess when we start talking about Corvettes as assets rather than toys I'd stop with the '67 model year. My father grew up during the depression and that experience shaped his financial views. He was all about secure savings. He denied himself many things during his lifetime. When I was old enough to feel the impact of tough times I was shaped by run away inflation. The lesson I learned was that if you are going to buy something the longer you save for it the more it will cost. With interest rates at 1.5%, borrowing money for a new Z seems OK to me. I expect to see the car depreciate but I bought it for enjoyment not investment but I expect to see a lot of "solid investments" depreciate pretty soon too.