17/18 year old buying a camaro/c6 vett?

[Brettzel]

For toys, it is generally a good idea to apply the 25% or 1/4 rule.... Don't spend more than 1/4 of your income on the car (financing, insurance, maintenance, gas, etc.). Say 40 hours a week at 12.37, you earn around 500 a week, or 2000 a month, so limit yourself to 500 a month for the car. To do so, with an insurance premium of 350 per month, put a large enough down payment on the car, that you don't exceed a payment of 150 per month. This would mean putting down 20k on a 25k car, and paying over a term of 36 months...

[Austinfett]

Aside from people saying i'm trolling, a lot of this is helping. I want a camaro/vett. But i do have to be realistic. I could save a good chunk of money now and then save a bit more as time goes on.

[OHIOSS]

Originally Posted by Austinfett

Aside from people saying i'm trolling, a lot of this is helping. I want a camaro/vett. But i do have to be realistic. I could save a good chunk of money now and then save a bit more as time goes on.

I had already picked out the Corvette I was going to buy before I found out how much insurance was going to cost. My disappointment was monumental when I realized from a financial position it wasn't a good decision. At that time of my young life getting that Corvette was simply the most important thing to me, it's all I thought about.

I ended up buying a 1977 Pontiac Grand Prix which is still one of my favorite old cars. I put fancy rims on it, spend huge money on the stereo system and had fancy pin striping.....I was really pimping.... As fate would have it I got 2 speeding tickets, a stop sign ticket, and failure to yield ticket in a very short period of time after I bought the car. My insurance doubled but it was still under what the Corvette would have cost me per month. I have no doubt if this would have happened if I owned a Corvette I wouldn't have been able to get insurance from any one.

I was devastated when I decided not to buy the Corvette but it ended up that I got about the same amount of attention (it was important back then) because my Grand Prix was a hot car. It wasn't a Corvette but it was a very nice car for someone of my age to own.

Be smart about it and wait....

Russ

[TexasFright]

I wish Insurance and Car payment were my only bills, I'd drive a Lamborghini lol.

[1fastmf]

Originally Posted by Brettzel

For toys, it is generally a good idea to apply the 25% or 1/4 rule.... Don't spend more than 1/4 of your income on the car (financing, insurance, maintenance, gas, etc.). Say 40 hours a week at 12.37, you earn around 500 a week, or 2000 a month, so limit yourself to 500 a month for the car. To do so, with an insurance premium of 350 per month, put a large enough down payment on the car, that you don't exceed a payment of 150 per month. This would mean putting down 20k on a 25k car, and paying over a term of 36 months...

12.37 a hour @ 40 hours would be a lot more like 350 week after taxes. Could the op afford a camaro or c6? Ya.. but he would be working to drive a car

[damian559]

I'm 18, full time student, work 30+ hours a week, and just bought my 2015 1LE.

[Les7311]

If you can afford it...muck it...then go get one!! Just be ready if hard times hit

I went to school full time, and held down a full and part time jobs at the same time...and guess who said I would not make it? College counselor. ..#graduatedOnTime# #hungryToLearn#

Join the air force and surprise the crap out of everyone! !! 20+ years later you have a historic ride...

I may not live long enough to see my 45th anniversary turning 20....

[raptor5244]

Originally Posted by damian559

I'm 18, full time student, work 30+ hours a week, and just bought my 2015 1LE.

Congrats. If you have a well paying job and can afford it then fantastic. Remember, sooner or later you will have more than just car payments and insurance to deal with. So, as long as you prioritize the car in relationship to everything else in life then all is good. Personally, that $35k or so would go a long way toward a down payment on your first home. The 1le will be worth about 15-20k in 4-5 years....

[GossipSquirrelJelena]

At $12.37 an hour All your money will be going to a car payment and car insurance. Plus a lot of money on Gas. Or find a sugar mama and she'll pay for it all. Lol.


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[satxrider]

Life's too short to drive through it in boring car. Find the most fun car you can afford.


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[rontammy0]

Originally Posted by damian559

I'm 18, full time student, work 30+ hours a week, and just bought my 2015 1LE.

Don't work a full 40 hour work week and you have a new car.....nice

[High Magnitude]

I'm 17 (turning 18 in September) and I have a 14 Camaro 2LT. My grandfather got it for me as he is very well off. It was pretty cheap, and has a perfect crash test rating from the NHTSA and IIHS so it was one of the only cars he trusted me in since I am a new driver. I'd say get a used gen 5 Camaro with 10k or so miles on it if you can. They're cheaper than a Corvette and look just as appealing to me. Plus by the time you're 30 and can buy the Camaro without worrying about it as much, it will be too late because chances are you will already have a family and 2 (functional) seats won't be enough for your wife and kid(s). Good luck bro.

[damian559]

Originally Posted by rontammy0

Don't work a full 40 hour work week and you have a new car.....nice

You jealous?

[fussboss]

My first car in high school was a Camaro... so I can't say no lol. I did love the car, and the benefits of the nice car.