When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
I love these threads. The Porsche threads are iconic on that forum. A bunch of boomer/later GenX NewBalance and knee sock wearing grandpas who “finally got their dream car” and can just barely get in the driver seat. “Cash” or a Dave Ramsey “you need to make 10m to spend 100k on a car” BS is useless and unrealistic.
Listen, we all end up in the dirt either way. If you can swing it and you are happy, great. No matter the way.
Did you know that a recent survey found that fewer than 4 in 10 Americans could RIGHT now come up with 1000 bucks for an unexpected expense? Raise that to 5k and who’s left?
We are all living in a world quite detached from what “most people” would be experiencing. Look outside your bubble. “Most people” don’t even have a 401k.
A dude making 60k in 1990 was buying corvettes and now you think he should be making 350 or 400? Where YOU feel safe is different from where another guy feels safe with an expense. Full
cost 4 year College is a waste of money and 90% of the majors are useless outside of IT and STEM. 401ks will be nationalized the next time they have a chance to. SS is upside down and will be dead in 10-15 years.
I don't disagree with a decent $5m-$10m net worth being in place. I have met quite a few clients at the firm I work at that are worth that and still don't consider themselves rich. That is a good stash but it isn't FU money like it was in the 80s-90s. Most of them grew their wealth over time and they started with nothing and many of them went broke at least once. Some of the older clients might actually be the ones willing to spend the cash on a C8Z. Most of the ones in their 40-50s wouldn't as their is no way they could get a return on a C8Z like they would on lets say real estate in DFW over the past 5 years. They would want to put that money to work.
This thread has been entertaining.
For ***** and giggles, bc I haven't seen this mentioned, and I do think it's an important aspect. My debt to income ratio is under 5%.
How should I proceed?
I love these threads. The Porsche threads are iconic on that forum. A bunch of boomer/later GenX NewBalance and knee sock wearing grandpas who “finally got their dream car” and can just barely get in the driver seat. “Cash” or a Dave Ramsey “you need to make 10m to spend 100k on a car” BS is useless and unrealistic.
Listen, we all end up in the dirt either way. If you can swing it and you are happy, great. No matter the way.
Did you know that a recent survey found that fewer than 4 in 10 Americans could RIGHT now come up with 1000 bucks for an unexpected expense? Raise that to 5k and who’s left?
We are all living in a world quite detached from what “most people” would be experiencing. Look outside your bubble. “Most people” don’t even have a 401k.
A dude making 60k in 1990 was buying corvettes and now you think he should be making 350 or 400? Where YOU feel safe is different from where another guy feels safe with an expense. Full
cost 4 year College is a waste of money and 90% of the majors are useless outside of IT and STEM. 401ks will be nationalized the next time they have a chance to. SS is upside down and will be dead in 10-15 years.
Wake the Fvck up and enjoy your life NOW.
Not a chance, they’ll raise the age again for full retirement and also tax SS to 100% of “everyone’s” income before they drop SS.
This thread has been entertaining.
For ***** and giggles, bc I haven't seen this mentioned, and I do think it's an important aspect. My debt to income ratio is under 5%.
How should I proceed?
so you live with mom and make 3k per month and owe $150 for your rent to own tv, i don't recomend the Z06 for you.
I don't disagree with a decent $5m-$10m net worth being in place. I have met quite a few clients at the firm I work at that are worth that and still don't consider themselves rich. That is a good stash but it isn't FU money like it was in the 80s-90s. Most of them grew their wealth over time and they started with nothing and many of them went broke at least once. Some of the older clients might actually be the ones willing to spend the cash on a C8Z. Most of the ones in their 40-50s wouldn't as their is no way they could get a return on a C8Z like they would on lets say real estate in DFW over the past 5 years. They would want to put that money to work.
LOL…. $5 to $10 million net when it’s a $90K car and a Tahoe averages $70K.
I feel poor now, thanks guys!
Didn’t realize one had to be a millionaire to drive a Corvette these days.
I’ve always gone by a simple rule, if I can afford half down and the remaining balance is less than half my current gross annual salary, I can easily afford the car.
Obviously debt to income plays a role in that equation.
However everyone’s situation is different, there are the Dave Ramsays of the world who would tell you to drive a pre-owned Civic Hybrid until the wheels fall off and keep saving to buy a home in full while trying to fight inflation.
Others say that every day could be your last, and you can’t take it with you when you go..
Like most people I’d wager, I fall somewhere in the middle.
I’m still young, comparatively speaking and am just slightly above median wage with some income to spare..
I have always tried to be responsible, put family before self and that’s always served me well but I’ve had to pass on many things that I would have otherwise loved to have.
Pretty sure a little stretch for a measure of happiness is not unreasonable. Having said that I’d say if you’re pushing 15% or more for the car, you are probably stretching yourself to thin and should consider the Stingray.
I feel poor now, thanks guys!
Didn’t realize one had to be a millionaire to drive a Corvette these days.
I’ve always gone by a simple rule, if I can afford half down and the remaining balance is less than half my current gross annual salary, I can easily afford the car.
Obviously debt to income plays a role in that equation.
However everyone’s situation is different, there are the Dave Ramsays of the world who would tell you to drive a pre-owned Civic Hybrid until the wheels fall off and keep saving to buy a home in full while trying to fight inflation.
Others say that every day could be your last, and you can’t take it with you when you go..
Like most people I’d wager, I fall somewhere in the middle.
I’m still young, comparatively speaking and am just slightly above median wage with some income to spare..
I have always tried to be responsible, put family before self and that’s always served me well but I’ve had to pass on many things that I would have otherwise loved to have.
Pretty sure a little stretch for a measure of happiness is not unreasonable. Having said that I’d say if you’re pushing 15% or more for the car, you are probably stretching yourself to thin and should consider the Stingray.
I’m much the same… put half down and finance some. My current C8 is paid for. That’s my down payment for the Z. But will probably sell it for $90, put $60 down, finance $50.
Someone should go post the same thread on Lamborghini's Forum or Ferrari Chat just to see some of those responses LOL. The very idea that we can have a thread like this shows how different the economics are in either demographic. Goes to show that the Corvette really is the working man's sports car. Can you imagine posting in the new Huracan STO page: "How much should my income be to afford the new STO." LMAO The negativity to ensue would be incredible. If you believe your networth should be $1m+ to afford a Z06 you should probably be shopping on the other forums hahahahahaha
Rather than answering this question in terms of income level, my thought is that you can buy a C8 Z06 if you can feel that you own it, but not if it owns you.
This thread is quite possibly the 'Silicon Valley' dick jerk algorithm of the C8 Z06 forum.
It's the equivalent of someone posting their new C8 they just purchased and another poster saying "Nice color! I have the same combo." then proceeds to post a picture of their C8 while blatantly including in the picture whatever high end exotic they also own parked next to it hoping someone will comment on it. Except on this thread it's "well, this is my situation to afford it..."
It's the equivalent of someone posting their new C8 they just purchased and another poster saying "Nice color! I have the same combo." then proceeds to post a picture of their C8 while blatantly including in the picture whatever high end exotic they also own parked next to it hoping someone will comment on it. Except on this thread it's "well, this is my situation to afford it..."
It may seem like that based on natural assumption but I really don't think just because someone gives advice to someone asking a question necessarily means they are in the exact situation they describe.
For example, my initial post is not my situation. I used the arbitrary age of 30 but when I was 30 (now 42) I had a 30k dollar 2001 Z06 and was not shopping for a 120k dollar car.
Now, I can give the advice, especially with the ability to recognize what is needed for it to be right and comfortable. I mean, in 2008 a person could make 50k a year and buy a 3 million dollar house. "Getting approved" doesn't mean you should do it.
It is possible to hurt yourself by letting others tell you to do things you are unsure about doing.
It's the equivalent of someone posting their new C8 they just purchased and another poster saying "Nice color! I have the same combo." then proceeds to post a picture of their C8 while blatantly including in the picture whatever high end exotic they also own parked next to it hoping someone will comment on it. Except on this thread it's "well, this is my situation to afford it..."
Everyone on the forum is a multi-millionaire with houses in L.A., Paris, and Vail, each one of them with a 70” plasma screen…
Waiting to get my MRI results to see if I had brain cancer (no, thankfully) a few months after my father passed away at age 70 significantly changed my position on this issue. So did paying taxes as a small business owner and being able to write it off as a business expense. I can pay $100k and get a FPC mid engine car or pay ~~$40k and get a big pile of nothing.
Originally Posted by Cyclon36
It's the equivalent of someone posting their new C8 they just purchased and another poster saying "Nice color! I have the same combo." then proceeds to post a picture of their C8 while blatantly including in the picture whatever high end exotic they also own parked next to it hoping someone will comment on it. Except on this thread it's "well, this is my situation to afford it..."
I'm 100% posting pictures of my Z06 next to my Viper when I get it
Waiting to get my MRI results to see if I had brain cancer (no, thankfully) a few months after my father passed away at age 70 significantly changed my position on this issue. So did paying taxes as a small business owner and being able to write it off as a business expense. I can pay $100k and get a FPC mid engine car or pay ~~$40k and get a big pile of nothing.
I'm 100% posting pictures of my Z06 next to my Viper when I get it
Can you please explain how to legally write off 100% of the value of a 2-seater sports car weighing less than 6,000 lbs?
03-29-2022, 08:09 PM
