Alright, so I have been planning for more then 6 years now to get a corvette convertible, I currently have a job and am getting about $300-$400 a week, for a teenager that's pretty good...Well, the car I want to get is about $30,000 and it's pre-owned, but basically new..If I make payments on it, it's about $300 a week..not to mention insurance, which would be between $100 and $150 a month..all together that $450..then I have my phone bill, so that all around makes it about $500 a month..so I would have about $1,200-$1,600 a month..not to mention I would probably be spending around $150-$200 a month on gas alone..Do you think, with my current income situation it would be a wise decision to buy the car now, and deal with only having a few hundred dollars a month for other stuff?
Corvette convertible..should I get it with the income I get?
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wasjustcurious07
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I can't answer your question well if you're asking it just to get numbers back. I'm horrible at math, so I can't tell you whether you'll have the money.
But I will say:
1) It's a foolish idea to finance a preowned vehicle. The lure of preowned is supposed be because you couldn't afford to buy a new car outright, so you get the used. And you can't buy it outright.
2) At your income, you shouldn't be considering nice cars. For $30,000 you could buy a brand new car with a dealer's warranty and no miles on it.
3) I have the feeling you are underestimating the costs. Are you factoring in the interest rates? Especially if you're planning on financing with the dealer - they tend to have really high rates (remember, it's a business).
So yeah, it would be pretty stupid to buy a Corvette. Unless you're planning on mooching off your parents for a long time, you're gonna end up being one of those losers who lives in a cruddy place with a cruddy life just because you spent all your money on the car. You see a lot of nice cars in the trailer park.
But I will say:
1) It's a foolish idea to finance a preowned vehicle. The lure of preowned is supposed be because you couldn't afford to buy a new car outright, so you get the used. And you can't buy it outright.
2) At your income, you shouldn't be considering nice cars. For $30,000 you could buy a brand new car with a dealer's warranty and no miles on it.
3) I have the feeling you are underestimating the costs. Are you factoring in the interest rates? Especially if you're planning on financing with the dealer - they tend to have really high rates (remember, it's a business).
So yeah, it would be pretty stupid to buy a Corvette. Unless you're planning on mooching off your parents for a long time, you're gonna end up being one of those losers who lives in a cruddy place with a cruddy life just because you spent all your money on the car. You see a lot of nice cars in the trailer park.