Salary to buy a new Z06
11-07-2007, 10:11 AM
#41
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depends.....
Are you single? Are you married? Have kids? How much are you making now? How much do you wanna make or what is your goal salary? How much is the Vette your wanting? How far and how much will you be driving this car? Insurance costs? This will all make a difference in the salary that will be required to comfortably afford this car. And thats not including maintenance.
Are you single? Are you married? Have kids? How much are you making now? How much do you wanna make or what is your goal salary? How much is the Vette your wanting? How far and how much will you be driving this car? Insurance costs? This will all make a difference in the salary that will be required to comfortably afford this car. And thats not including maintenance.
11-07-2007, 10:24 AM
#42
I would recomand on buying a house the value willl just keep going up, but the car value does go down but sometimes you just have to get it if you really want it. I've had mine for a year now and I would not give it up for nothing it's a car that you can drive like you want a GTO might be abble to go just as fast but it still does not have a Z06 badge or the looks.
11-07-2007, 10:50 AM
#43
I would recomand on buying a house the value willl just keep going up, but the car value does go down but sometimes you just have to get it if you really want it. I've had mine for a year now and I would not give it up for nothing it's a car that you can drive like you want a GTO might be abble to go just as fast but it still does not have a Z06 badge or the looks.
11-07-2007, 02:20 PM
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depends.....
Are you single? Are you married? Have kids? How much are you making now? How much do you wanna make or what is your goal salary? How much is the Vette your wanting? How far and how much will you be driving this car? Insurance costs? This will all make a difference in the salary that will be required to comfortably afford this car. And thats not including maintenance.
Are you single? Are you married? Have kids? How much are you making now? How much do you wanna make or what is your goal salary? How much is the Vette your wanting? How far and how much will you be driving this car? Insurance costs? This will all make a difference in the salary that will be required to comfortably afford this car. And thats not including maintenance.
Actually, I plan on being single, having no kids, hopefully making pretty good money with years of experience in my field, and having a decent house.
kids cost money and so do marriages. Divorces cost a lot too, so I figured I would beat all odds and stay single
11-07-2007, 02:33 PM
#45
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Interesting question and everyone has their own comfort level of liability vs. assets.
Let's get to the numbers in a second. First, most of us probably wouldn't be driving a new Z06 and parking it at our apartment complex. Rather, I would think that a person who could afford a new Z06 would probably have a nice home with a nice garage to park their car in. If I can afford a 75k super car I would prefer to live in a nice upper class neighborhood (home value >250ish). So, in order to afford that as well as the car, I'm going to go out on a limb and say that I'd need to make >300k (living single) to afford the car comfortably. Or, I'd need to have made >200k/year for a while and have established myself for a while.
So yeah, more than I can afford!
Granted, I'm sure you could live at your parent's house off of a 40k income and figure out a way to buy the car, but I really can't imagine spending all of my wages to pay for a car while my parent's provide the rent.
I'm a pretty conservative guy, though. If you didn't put anything down on that car you're probably talking about a near 2,000 payment/month. Dayum!
Let's get to the numbers in a second. First, most of us probably wouldn't be driving a new Z06 and parking it at our apartment complex. Rather, I would think that a person who could afford a new Z06 would probably have a nice home with a nice garage to park their car in. If I can afford a 75k super car I would prefer to live in a nice upper class neighborhood (home value >250ish). So, in order to afford that as well as the car, I'm going to go out on a limb and say that I'd need to make >300k (living single) to afford the car comfortably. Or, I'd need to have made >200k/year for a while and have established myself for a while.
So yeah, more than I can afford!
Granted, I'm sure you could live at your parent's house off of a 40k income and figure out a way to buy the car, but I really can't imagine spending all of my wages to pay for a car while my parent's provide the rent.
I'm a pretty conservative guy, though. If you didn't put anything down on that car you're probably talking about a near 2,000 payment/month. Dayum!
11-07-2007, 03:59 PM
#46
I would recomand on buying a house the value willl just keep going up, but the car value does go down but sometimes you just have to get it if you really want it. I've had mine for a year now and I would not give it up for nothing it's a car that you can drive like you want a GTO might be abble to go just as fast but it still does not have a Z06 badge or the looks.
11-07-2007, 04:30 PM
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11-07-2007, 04:47 PM
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11-07-2007, 04:51 PM
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11-07-2007, 04:55 PM
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11-07-2007, 06:24 PM
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I agree with that logic. Its stupid to try and put down as little as possible (LIKE $5,000) just because they let you. There is also a big difference in putting down $20K vs. $70K. For the $100K-$150K income guy that can afford the car, $70K isnt exactly chump change.
11-07-2007, 06:44 PM
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I agree with that logic. Its stupid to try and put down as little as possible (LIKE $5,000) just because they let you. There is also a big difference in putting down $20K vs. $70K. For the $100K-$150K income guy that can afford the car, $70K isnt exactly chump change.
11-07-2007, 06:53 PM
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11-07-2007, 06:54 PM
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Why is that stupid? If you know how to invest, you can easily make 10% or more playing the stock market off that 70k (or 5k or whatever). If your credit is good, you can get great interest rates like 6% or lower. Which means you have a positive cash flow. Many people get rich doing that.
11-07-2007, 07:15 PM
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Why is it people try and use examples that dont apply to the masses to attempt at making a point? If you are that great of a trader/investor, why work for a living? Why be confined to the middle of the road, normal, example that I used? What if chocolate covered nikes fell from the sky? That would be really cool huh.
As far as investing vs working, I'm working on it...
And chocolate cover nikes? Not a bad idea. You should try it. You could make a million...
BOSS APPROVED!
