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**Mogobs30th** · 10-11-2007, 07:10 PM

Re: How much do you need to afford a Vette?

In 3 years, I will top out at $76,000 a year. Im not married, but might be by that time. I have no house, I live in a dumpster basically. In no way, shape or form will I ever have the money to own a house, be married, have kids, AND own a Z06. You're talking about a very high priced car, I could see one used, if you didn't plan on everything you wanted, but new, never happen.

**DAS BOOT** · 10-11-2007, 07:14 PM

Re: How much do you need to afford a Vette?

You can easily afford it...

Are you talking about a new one? (might be a little harder, but used ones maybe not)

the question is... what are you willing to put off in life to afford it? Do you not want a house, or start planning for a secured retirement until you are 40?

Are you willing to live Car poor in a small place, not have money to do that much, but have the vette?

If you stay single, definitely will have alot more money for the vette, but then again, does will the vette provide you with more happiness then a girl?

either way, probably won't take my advice, I don't even take it fully...

but once you start making money, start a 401k and a IRA, try to max it out, and make sure you have good health insurance.

I live comfortably, and I technically bought nice used '04 GTO 6-speed.

but unfortuneately it is in the form of paying off medical bills, and I don't have a nice car.

**merlinsrealm** · 10-11-2007, 08:10 PM

Re: How much do you need to afford a Vette?

its simple math really,

Every 1000 you borrow is about 20.00 a month before interest....

Even if you got a used vette, lets say 2004, it will run you about 30,000.00

so you need 600.00 a month before interest with no money down, Oh and dont forget the higher insurance rates.

Good luck

**NkTyson06** · 10-11-2007, 08:29 PM

Re: How much do you need to afford a Vette?

So what exactly do all of these people do for a living that own all these brand new vette's?? I mean I have seen all sorts of posts on the LS1TECH.com forums about some people having trouble deciding which motor they want to spend 13k on. I wish I had worries like those!

**SpeedingFirebird** · 10-11-2007, 08:41 PM

Re: How much do you need to afford a Vette?

Originally posted by NkTyson06

So what exactly do all of these people do for a living that own all these brand new vette's?? I mean I have seen all sorts of posts on the LS1TECH.com forums about some people having trouble deciding which motor they want to spend 13k on. I wish I had worries like those!

It's either they have a lot of extra money (older people, with 10+ years worth of time in a company and have moved up the ranks, got promotions, etc.) or they are people they have sacrificed something in trade. Maybe they still live at home, or mooch off friends, maybe they drive the Vette in winter b/c they can't afford a beater. Maybe they don't have kids. Maybe they erroneously believe social security will be there when they retire.

I used to work with a guy. Both he and his wife had 20 years in the company. No kids, great salaries. He owned a Vette and a Yatch. He invested very little in retirement.

You're wrong bro. Don't worry about the Vette. Invest in a good retirement plan, and get a respectable car for now. Leave the Vette for the mid-life crisis.

**Earnhardt132000** · 10-11-2007, 08:48 PM

Re: How much do you need to afford a Vette?

Many 'Vette owners I've met were in the Armed Forces. They pretty much just rack up money when on duty, then splurge when they get home. I'm not sure if this is what you're looking for, but that is how many afford it.

I'd say you're best bet is to buy used.

**Camarodragcar2002** · 10-11-2007, 09:48 PM

Re: How much do you need to afford a Vette?

Buy a ZR1 thats what i been looking for

**StrtRacer98** · 10-11-2007, 10:28 PM

Re: How much do you need to afford a Vette?

Im sure you could afford it making that salary, the question is what other expenses will you have then?

**DAS BOOT** · 10-11-2007, 11:13 PM

Re: How much do you need to afford a Vette?

If you haven;t learned it yet... you need to learn the basic principles of investing...

you either have alot of principle, or you invest over a long time...

99.5% of the world doesn't have enough principle so they need time...

If you sacrifice the time, by spending your money now, on something else... you will have less money later.

Personally, I am putting about $150 a month into my 401k, I wish I could doo more but I am contemplaint cutting back. Since well at the moment my current mode of transportation, was built when I was in 4th grade.

**crushedout** · 10-12-2007, 06:05 AM

Re: How much do you need to afford a Vette?

You can do it, just stay away from credit cards. I make 65k a year, I'm 25, have a house payment, my firebird is paid off, and bought the Aztek in cash. When I went to get pre-approved for my loan to get the Mustang this summer my bank said I was good at 50k on a 6 year loan. I have credit card bills also. I only owe about 120k on my house so that makes it easier for me because I know Richmond is a higher mrket but there are decent houses for 140k there you could get. I have a friend who lives there and found a house for 115k. It's an ok house and she's been fixing it up. Bottom line, if you really want the Z06 then you can get it. I really want a 96-97 Viper GTS , blue with white stripes by the time I'm 28. Always have sense I first saw them but now my prioroties are changing as I'm engaged and she has 2 little girls that have a dead beat father. She's all for it but I have 2nd thoughts cause I need to focus on other things also now. Don't let anyone tell you that you can't do something. It may be hard to do it, but if it is, that will make you enjoy it that much more. Seriously though, I SUGGEST you buy a house first, You gotta pay rent anyways so at least pay towards something. Even if your house "loses value", you'll get some money when you sell it. If you rent your just saying good bye to all that money for ever.

**kristen** · 10-12-2007, 06:14 AM

Re: How much do you need to afford a Vette?

you never know what will happen.

**singing** don't give up on your dreams**singing**

the truth,,,,sorry it's going to take alot to get it done.

my stepfather just got a 04 vette back in april.

police serg. in nj. makes 6 figures a year. has one son*coll payments* house payment etc. kinda hard to fit that vet in there.

good luck

**Shirl** · 10-12-2007, 07:35 AM

Re: How much do you need to afford a Vette?

I say you need to get your priorities straight. You're what? 19? You need to obtain an education so that you can have a decent "CAREER" first. Then little by little you can save up. I'd go used Vette though. There ain't no way in hell I'm EVER spending $80,000 on a new car.

I eventually want one too. Though, after modding my 3.8 to run low 12's and hit the 11's, the Vette hasn't been that impressive to me, until just recently. I would like eventually get an 08' with the butterfly open exhaust. The colors of the Vette SUCK though. Same ole **** with GM. I'm tired of the basic colors and I'm not crazy about the new Orange or Blue either. Even the interior could be improved. There's no comparison in fit and finish to my new Eclipse's interior. Also, modding a Vette is EXPENSIVE. We have an 04' Vette that is beautful and have already put a good chunk of change into it on small mods. We raced at the track just recently and my car RS smoked the living hell out of it. Only thing is, I did use the juice... but hey, a win's a win. ;)

I'd rather save up gradually and get one in a year or two that is used with low miles. Plus, it has to be just the "right one". I've noticed that the 05's have already dropped about $20,000 in price from when they were new. They started out at $56,000 and now there are some that are mid to high $30,000.

**SpeedingFirebird** · 10-12-2007, 07:42 AM

Re: How much do you need to afford a Vette?

Originally posted by DAS BOOT

If you haven;t learned it yet... you need to learn the basic principles of investing...

This is a good point. There are ways of making a lot of money without in addition to your salary. You just need to be willing to part with it for a while so it can work for you. Mutual funds are easy with an average return of 8 - 10% of the long term.

**NkTyson06** · 10-12-2007, 07:53 AM

Re: How much do you need to afford a Vette?

I have heard much good advice and I appreciate it.

Yes I am 19...I don't want one right now lolz!! Could never afford it! I mean in my mid to late 20's. After career, after house, wife, kids? ~ who knows.

Oh I would deff buy used! I used to sell cars at Mechanicsville Dodge.

Every 20k is 400/mo. Before interest. Every 1k you put down on your car will deduct 20$ from your payment.

The minute you drive a new car off the lot you lose I believe it's arounf 10% of the sticker value, or more.

Used is the way to go. In 2012 I could buy a used 07 z06 for probably half the price it is new. Not to mention a used vette always seems to have low miles because they are people's sunday drivers.

Then they get tired of the big payment/insurance (im sure some of them older folks get tickets :P)

So yeah I want someone else to go pay all that mark up, put about 3-10k on their nice vette in 1-2 years, and then I'll buy it from them when the novelty wears off.

Only thing I'm scared of is getting screwed. Because even if the Vette is 30k as opposed to 60-70k and has low miles, I'm afraid of getting one someone has dogged too much, and something might be wrong with it.

Like you guys said they are expensive to fix and 30k is still a lot of money!

But I'm a hard worker.

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