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What do you think

  • Keep the Z06

    Votes: 16 20.5%
  • Sell the Z06, and buy a house.

    Votes: 62 79.5%

  • Total voters
    78
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Discussion Starter #1
I want some peoples opinions

I'm only 19, and I have a 2003 Z06. Bought with my own money. The problem is most my money goes towards the car. I was thinking of selling the car, and buying a mustang GT with cash, perhaps putting a turbo on it and buying a house! I really want to invest in real estate in my future, and I figure it's a good way to start. There'll always be time for another Z.

What do you think.
 

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I voted house. Houses are always going up in value. Buy house keep for few years. Take the profit buy a bigger house. Keep doing that and in 6 or 8 years you will have a enough money to buy a whole stable of cars. :z: :z:
 

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Not knowing that much about you situation, it's really hard to say. Investing is always a wise decision, I don't think anyone will argue me on that.

I would have to say that you must be doing exceptionally well to be able to afford such an expensive automobile at your age. At 19, I was only able to buy myself a used Ford Ranger and I could barely afford to feed myself, pay rent, tuition, etc. :lol:
 

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House is a much better investment than a car so i voted house! I am young too (25) and the ONLY reason I have a Z is because I got a cheaper house. If I had a more expensive house I might not be able to use the leftover for my payment :eyes: A house appreciates and a car doesnt (unless you keep it forever and never drive it!) so its cut and dry in my opinion. And I agree with the above, after 6-8 houses that you make money on you can buy many Zs!!!
 

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Take it from someone who did just that, Back in the mid 80's I purchased a new 86' coupe. Basically spent all my money on it for two years. BIG Mistake... I sold it... Recouped and now the Z06 which I purchase new is my third car and is in my garage attached to my house. Can't change the past but if I could I would have done it different...... :jammin: :jammin: :jammin: Best of luck in what ever you decide....
 

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Man to be 19 again and make this decision over again. When i was your age, spent every dollar i earned on muscle cars and vettes in late 60's and early 70's. If i would have invested in real estate for a while, you get the idea. Take it from all the other posts voting for a house. You won't be sorry down the road, and plenty of time to play with Vettes.

Good Luck

Jack
 

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I voted for the house too. Sounds like you make a good living. A house is an investment, a Corvette is not, it is a toy. Investing your money at your age will allow for plenty of Corvettes and just about anything else you want in a few years. I'm sure you've heard the saying, put some away for a rainy day. If you are spending all of your money on your car, it could rain one day and you end up with nothing.
 

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I voted house! There will be time for another Z06. A house will get you equity and more leverage for car loans or profit when you sell it. I wish that I could have afforded a house at age 19!!! :thumb: :thumb:
 

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Get a house. I'm 27 and bought a house 2-1/2 years ago. Since then, the local market has pushed the "value" of my place up $100k in that time. I traded in my 97 Trans AM, put down $6k cashe and got a home equity loan (tax advantage vice loan thru dealership) to finance the remainder on my Z. Not only was the % on the home equity loan lower than the dealership financing I will see ~ $600 back at tax time over 5 years. I look at it as a (free) set of front tires !

Best of luck.
 

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At your time in life you need to build equity for the future. It is hard to do when the lure of toys calls however it would be better for you in the long run. Getting to 25 and being married will save you loads on car insurance.
 

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I voted car until I read your post. Only 19 and can buy a Z...would start your investments with the house and Stang if that's what you want. Get out of paying rent with no equity. :)

Bob
 

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gsjack said:
Man to be 19 again and make this decision over again. When i was your age, spent every dollar i earned on muscle cars and vettes in late 60's and early 70's. If i would have invested in real estate for a while, you get the idea. Take it from all the other posts voting for a house. You won't be sorry down the road, and plenty of time to play with Vettes.

Good Luck

Jack
Good advice. We all love the vette too! But your future and financial outlook will be brighter with the house. :thumb:
 

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Discussion Starter #18
Thanks for all the replies and advice. I will most likely sell the vette and buy a house.
 

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My take on this is different than most! I believe you have to do what makes you the most happy... now! If the Z06 makes you the most happy, stick with it! Your only 19 and by the time the car is paid for at 24 or 25, you will still be a very young man. Without the large car payment you would then be better budgeted to buy a house and still have your Z.
I had my first Vette at age 18 while being in the Navy and my first house at 25. I have since owned 19 Corvettes and owned 4 homes.
However, at age 52 and a recent split from the better half, I now rent, and make mortgage payments on the Vette!
Again, I say...... do what makes you happy and live for the moment.
 
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