2014 Stingray vs. 2013 Mustang 5.0 vs. Z06's vs. COPS
01-18-2014, 05:47 PM
#42
Staging Lane
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Not comparable in almost every way! Look at those pics, the only thing that they share in common IMO is the color. Two totally different cars. Nice video! Still waiting to get a good look at the C7 in person! I have only seen two passing me on the highway. Not to many of them yet out here in Colorado.
01-19-2014, 04:36 AM
#45
On The Tree
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I'm sure I'll get hated on for this but even if I could afford a new Z06, I wouldn't buy one.
I just have a problem with buying something and it losing value, or me losing money. I think high end cars are nice, but they really aren't for me. I'd much rather have per se' a mid year Corvette, Fastback Mustang or a 1st Gen Camero. These cars will never lose their value and will actually gain in value.
I just have a problem with buying something and it losing value, or me losing money. I think high end cars are nice, but they really aren't for me. I'd much rather have per se' a mid year Corvette, Fastback Mustang or a 1st Gen Camero. These cars will never lose their value and will actually gain in value.
01-19-2014, 01:51 PM
#47
True. It is just different financial ideology. I'm old school, think things should be paid for with cash, own my home outright, etc....I have a neighbor that is a gen Y'er, masters deg in Biz and owns 2 successful businesses. Very smart and successful guy. At a Christmas gathering I had a disagreement with him regarding 'owning' things. He could pay cash for everything, but his view is to pay the minimum on everything, don't really 'own' anything, let the banks own it and take all the risks. I said that was what caused our banking collapse, and he agreed but his view is based more on business and if things get really bad he walks away with his cash while I'm left trying to sell everything. He is playing by the rules the banks themselves set up. When I see pro athletes, Kanye, Nic Cage, etc. go bankrupt, they take away their 'things' but they are still cash 'rich'...I sorta get it.
But there is also a huge difference between my fathers generation and mine. My father work for verizon which when he started was AT&T. he worked there 32 years and started with no degree. You cant even get in with out a degree these days. He was making 120k a year back in 2001. I have a degree and I cant seem to make more then 45k at my job. Finding a job that pays that good is hard. So I agree with someone who said 100k might as well be 300 if I cant afford it I cant afford it. I also dont see buying a 51k car sports car the same as buying a 51k truck its a luxury item but like I said thats my opinion.
01-19-2014, 05:43 PM
#48
It's smart business to always hang onto your cash.why pay 100k upfront for a vehicle that deprecates when I can finance it for 0-3.9% APR? You can get at least a 10% annual return with that money from a financial investment firm( not including possible tax deductions if you own a business). So technically in 5-10yrs. You get the car for free because you didn't pay cash for it upfront. Not old school but definitely smart money wise.
True. It is just different financial ideology. I'm old school, think things should be paid for with cash, own my home outright, etc....I have a neighbor that is a gen Y'er, masters deg in Biz and owns 2 successful businesses. Very smart and successful guy. At a Christmas gathering I had a disagreement with him regarding 'owning' things. He could pay cash for everything, but his view is to pay the minimum on everything, don't really 'own' anything, let the banks own it and take all the risks. I said that was what caused our banking collapse, and he agreed but his view is based more on business and if things get really bad he walks away with his cash while I'm left trying to sell everything. He is playing by the rules the banks themselves set up. When I see pro athletes, Kanye, Nic Cage, etc. go bankrupt, they take away their 'things' but they are still cash 'rich'...I sorta get it.
01-19-2014, 05:49 PM
#49
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It's smart business to always hang onto your cash.why pay 100k upfront for a vehicle that deprecates when I can finance it for 0-3.9% APR? You can get at least a 10% annual return with that money from a financial investment firm( not including possible tax deductions if you own a business). So technically in 5-10yrs. You get the car for free because you didn't pay cash for it upfront. Not old school but definitely smart money wise.
Financing is still just that - financing. It is DEBT. How people tend to care about debt really depends upon their living situation and job security.
I grew up with the old man telling me if I can't buy it with cash, I didn't earn it - but I also look at it investment wise like you seem to be. I financed my jetski solely to build credit and because what I am making in the market far surpasses my interest rate. Same can be applied to vehicles, mortgages, etc.
All really comes down to the amount of risk each person wants to take on given their specific situation
01-19-2014, 07:08 PM
#51
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I love cars, but just because I love cars, doesn't mean that I can't be smart with my money.
I tend to like lower level performance cars and try to buy them after they have lost all the value that they are going to lose.
