Torn between two beasts.

Chuck33079 · 06-10-2016, 06:51 AM

Quote:

Originally Posted by Fearless_Z

Well tbh, the "Z51" outperforms a lot of cars, even the GTR in "some" cases. Not in a drag race, of course. But I've seen it beat a newer GTR around a track. There's actually a video on edmunds of it. They were comparing the Z51 vette to cars like the GTR, Viper, etc, etc. It came in 2nd to the Viper. So the way I look at it is, im basically paying for a car that has amazing potential and capability for way less than say...a GTR. I'm a huge fan of the GTR, just not its price tag. And I'm just not seeing the bad in financing a car for 84 months other than a little increase in interest. Regardless if its paid for or not, it'll be worth the same amount of money whether its paid off in 6 years or 7 years, granted that I'm paying a little more in interest.

A lot can change over that long of a note. The rule of thumb is that "if you can't afford to buy the car on a three year note, you can't afford the car". Over an 84 month term, you'll pay a lot more in interest. Your situation may change. Nothing is definite in employment. Just ask all of the guys who were making bank working in the oil country.

If you do make this poor financial decision, at least call your insurance company and see what they would charge you for gap insurance. It's often much cheaper than at the dealer. You don't want to have something happen and be paying on a car that got wrecked or stolen.

You say you have no other bills except utilities - does that mean that you've got a 6 month emergency fund saved up and you max out your retirement contributions? If that's the case, this isn't the worst idea you could have. If you're not doing that, start and see if you can still afford the Vette. You'll be very happy you did later in life.

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