dvilin

You and your budget are not ready for a Corvette.

rackemup

20/20 stock trading hind sight, gotta love it. Amazing how some guys on internet forums have raked it in on all the hot and meme stocks of the past few years. Incredible insight some of these guys have generating these 3 figure rates of return in the time frame of a car loan term while 50% of Wall Street's top professional fund managers can't beat the 9 or 10% of the S&P 500 over time.
Warren Buffet should recruit some of the stock trading Rock Stars who are vocal on the forum.
"I borrow money to buy a toy(C8) because I will double, triple, quadruple, that amount with my amazing stock trading skills", sure you do, absolutely ridiculous.

Gary barnes 1098

Too many guys here that have it all figured out……
thx for all your intelligence……enjoy your day watching golf on your big screen.
I think I’ll unsubscribe now,I’ve been schooled. Lol

jipper

Yeah pretty disappodisappointing read some of the comments....I'm going to hit the unsub as well....hopefully the OP gets their budget setup, takes care of bad debt, plans their savings ammount and finds a c8 they can finance and stay within their budget.

Dads2kconvertible

You don't want to be the poorest guy living in the projects either. Prioritize your expenditures.
Or, buy crypto and cry when your exchange is breeched and all your tokens are stolen by the Lazarus group or SBF style 'investing' bankrupts you.

JwT

I have no skin in the game yet as I am still looking and have been for the last three years. I agree with the few here that say prices are falling ( not very quickly but falling). The fact that people are asking that much money for a five year old car is a testament to the great value of the C8. That being said a 2020 is not worth 69k and really should be falling below the 64k mark. But that does not stop people from trying to get top dollar even if they know better. Some here that say you would be upside down pretty badly on this deal are right. There are way better deals out there you just have to keep looking. But its your call.

mnm4ever

From the way you phrased your question about payments and the title, it’s clear that you can’t afford this car. Or really any car at this price range. That’s not meant to be a slam on you, it’s just that cars in general are really really expensive right now and if you don’t understand how financing and payments work then you aren’t ready for the expense of a $70k car, whether it’s a Corvette or a Silverado or a BMW.

I love my C8, I was able to pay cash for it because of some very well timed financial decisions and luck. I flipped a few other cars during the Covid price boom. I saved a ton of money by not buying new cars for 7-8 yrs before I got my C8. I also lived within my means and had very low interest loans on previous cars I financed. And finally I make a pretty solid income and got a few bonuses that helped pay for my new toy.

I work in IT, for those who say we don’t tell you what we do for a living. I work with a lot of younger, high earning ppl who spend insane amounts of their monthly income financing fancy cars to impress their friends. $1000/mo car payments are not remotely rare in my company, and a lot of these people have 2 and 3 car payments that high. We had one guy we used to tease all the time because he was leasing a new car literally every 6 months. I still don’t know how he was able to flip out of leases so often without the negative equity crushing him. Maybe it was the Covid pricing I don’t know. My point is - just because you CAN afford it doesn’t mean you should. Paying that much for cars is a fools game. Paying that much for a sports car is even more foolish. That is where all of these posts about paying cash for your corvette are coming from. If you can’t afford to do it, then you aren’t ready for the financial hit that comes with it. Now if you have a half million+ in investments and you are financing the C8 so that you don’t have to touch your investments, that’s fine. That person is not coming on here asking how much everyone’s payments are either. Because they already get it.

Besides my Corvette I also have an MR2 Spyder. I have nearly as much fun driving that car as I do my C8. It costs 1/10th the price. You can buy a brand new BRZ for about a third the price of a C8 and it’s still a ton of fun. You can buy a used Corvette for anywhere from $15-35k and have a great car that scratches the Corvette itch. The C8 is an amazing car and honestly a good value. But it is not attainable to everyone like Corvettes used to be. Just because a significant number of car buyers are spending C8 money on trucks or SUVs or luxury cars doesn’t mean everyone can afford that. Many of those buyers are getting themselves into a financial bind over those purchases too.

iamrepete

There is nothing better, even for Consumer Reports survey responders.

rkrupka

Original post...
"You aren't affording a C8 if you are using it as a business expense. I mean, kudos to you for getting into a position where you can use a C8 as a business expense. But it's still not affording one"

Its a math decision whether or not to write it off with the business.

rackemup

Yeah, Bitcoin, great stuff. LOL. Gotta love the "virtual wallet" BS that goes along with it. Lazarus group and SBF grease ***** are the types who just love the scams that can be run on this crap. Unfortunately most fast buck, easy money, artists never see the finish line. My own family has a few financial fools who have lost most of their savings trading stocks and on various forms of other "big return" game plans that never work.
Take note of Warren Buffet's recent appraisal of Crypto which he describes as "Snake Oil Squared". There are many out there who will agree.
So many of these internet financial discussions remind me of the aggressive driving monkeys you see slicing, dicing, tailgaiting, etc., to be first in line at the next red light. Problem for these *** clowns is the high probability of a major crash as a result of their idiotic behavior.
Not that any of this would apply to anyone here, Naaaaaaahhhhh.

at7000ft

Totally agree, and you need to think about the maintenance costs, my 22,500 maintenance was $1000, and just bought new tires for $2000 at 26,000 miles.

acroy

1 post by OP. 7 pages of arguments. CF delivers.

Red Mist Rulz

Dave Ramsey is an idiot who understands nothing about the real world, but his basic advice to save before you splurge is sensible. Going without a C8 is hardly the same as eating beans and rice.

Red Mist Rulz

And then hope you don't have any sort of emergency that requires the cash you no longer have to spend, and that you never lose your job and the car get repo'd......
Probably the best advice in the entire thread!

I don't ask my financial advisor what car to buy, either.