reefer27

So my deal would be $930 a month with trade at $15k equity for 72 months. Car is $69k plus tax and tags. What are others payments like ? It’s a 2020 c8 with 2lt, z51 mag ride and front lift -g2 seats at 10k miles

Cerulean

Your money your choice but if you can't afford to pay cash, then with the current high interest rate and rapidly falling C8 prices I would suggest you save up more.

BandDirector

Or lease NEW with $5K down, $899 per month and then buy out lease when rates drop, or look for new again with what I hope will be lower rates in a few years…

https://www.corvetteforum.com/forums...oose-from.html

Bald Guy

Save the money and buy a Camry or an Accord.

Blue Lion

I'm not up to speed on used prices but for a 4 year old car that price seems high despite the mileage and options.
For me, a Corvette is a luxury and not a need.
And prices seem to be falling on new models.
Up to you, you will love whichever one you get.

EvanD

The price is fair.

DaveDMW

Never buy a toy that you couldnt pay for with cash. If you have limited cash, find a cheaper toy.

Red Mist Rulz

There are plenty of fun to drive cars that are more affordable. Buy a Miata or Toyota 86, save up your money, and buy a Corvette when doing so won't put you in a financial bind. No car is that important.

jbc1995fb

1) Don't worry about what other people's payments are (or if they paid cash) because it all depends on the year of car they purchased (or even when they purchased it), their credit score, how much they put down, trade ins, etc. etc. Way to many variables so don't worry about others.
2) The dudes on here that pay cash hardly ever say their profession, or how long it took them to save up the money to pay cash. There are wealthy people that could save the amount in months.
3) Worry about your budget, what auto insurance is going to be.
only you know if a $930 a month payment is alot when you consider, rent, food, gas, etc.
4) Perhaps consider GAP insurance since you are financing a 2020 for 72 months. Car is already 5 model years old, and will be 10 years old when paid off.
If it were to be in a wreck, at this point they are depreciating, so early on you may not have much equity built up, you could quickly be upside down and still paying for it.

Now the positives. Don't listen to the dudes that say pay cash for toys etc. They're in a different world, who knows what they do for a living. The Corvette has always been for the "little guy" with big dreams. If they pay cash cool & great for them, but not all of us can.
A) you only live once so if you can reasonable afford the $930 I say go for it.
B) If you saved the $930 a month for 6 years you'd have $67k plus interest so you could be a baller and say you paid cash for your C8. But I bet the $67k in 2030 won't be enough to buy a new 2030 with cash, so you'd still be looking at a used C8, maybe a 2028 model.
C) Or you could have been driving it for 6 years.

Lastly don't listen to me or anyone else on here. You have to figure this **** out by yourself and know what you can and can't afford.

Best of luck to you,
Jason

Avanti

The Best is to always buy what you can afford. Do so long enough and later you may end-up paying cash... for all you buy. Worked for me! All the best, in any event. b

Bluehinder

I posted in a different that you don't want to be the richest guy in the cemetery. You can't take it with you. If it's going to bring you pleasure just do it. You wont regret it.

StfDrmsRMadeOf

There’s a poll here confirming most of the users here are over 60 so consider that when you hear all the “pay cash or you’re obviously too poor for toys like ours” comments. If the payment isn’t a problem for you then that’s all that matters. I personally pay a lot more than that.

I do suggest looking at other C8s though, seems like a lot of deals going on now so you might be able to find newer (or even new!) for about the same price. Nothing wrong with keeping your options open.

oldboomer54

I've owned 16 Corvettes, starting in 1973 at the age of 18, and never financed a single one of them. The only thing I've financed are houses. If you can't pay cash for a "toy" don't buy it.

BandDirector

…it amazes me that most that say “pay cash only for toys” don’t consider that this car is good enough to be a daily driver. I’d dare say MOST Americans finance their daily drivers…

I wanted a C8, I couldn’t pay cash, put a hefty chunk down and have a $500 month payment for 60 months…the car the C8 replaced was a 2015 Equinox that I also bought new, didn’t put any money down, and my payment was $400 per month for it. Saved like mad man since I paid it off in 2020, and now I’m in a new C8 for an extra $100 per month…I daily a C8 now.

…to say “only buy a Corvette if you can pay cash or you can’t really afford it” is ridiculous…

Corvette03051

listen to dave Ramsey talk about money before doing anything unless you are already truly rich. “a fool and his money will soon be parted”.

Corvette03051

Bad plan horrid

St.Char

If I took Dave's advice, I would be eating rice and beans, beans and rice and have no life.

flynnstone

this boomer mentality is tired and shows how many people poorly manage money. The last decade has been basically free financing/money, while the stock market has returned 20% a year.

You saved $3k in interest by not financing and paying cash, but lost out on $60k in returns over 3 years by not having that “cash payment” in the market

Natoli

Do not follow Dave Ramsey advise.

newchevyman

OP don't listen to all these boring people thinking they're going to live to be 100 years old. Buy the nicest Corvette you can stretch your budget to get into then you've got license plate options such as NSOLVNT or C8 YOLOO. Make it happen!