I think after you get the S and then look at all the stuff you want to do to it, you might as well have bought a C6 with no discount

So, definitely the S if you're choosing between the two, but the house first. Don't forget to get one with a garage.

 

my residence has appreciated 50k in 7 months of ownership. Few car "investments" could make that claim. I'm 25

 

I don't think anyone would claim their car purchase as an investment... unless it's a collector's item of course.

 

He said it.... a house is an investment, a car is just a liability... get a house!

 

And don't forget, it's never too early to start saving for retirement. I started putting away 20% of my income for retirement when I was 23. It prevented me from having a car like the S at an early age, but I now have my S and will retire very comfortably, possibly by age 50.

 

The thing is, who here hasn't read a car ad that states, "Invested thousands" happens all the time. A foolish statement in my opinion.

You're right, car isn't an investment. But if you have limited funds, a $30k purchase on a car isn't a smart move. That $30k would make an excellent down payment......

 

Thanks guys, you're all right. It's a VERY good deal, but I have to keep my feet on the ground and plan for the long term instead. If I can get a used S at a good price I may still sell my RSX for it though

The Winter weather here is pretty bad, and I realized that a C6 would be a pretty awful winter car; I'd probably have to get a winter beater too. Not to mention the insurance on a 20 year old male on a brand new Corvette.

 

Sorry but you can't.

 

In the longer run, a house is not a particularly good investment, except insofar as it enforces a certain amount of saving.

I bought my current house in 1990, in the Boston area. Its value stayed absolutely flat for about five years. Then it started appreciating, and doubled in value over the next six or seven years. Since then, it has been flat again. Overall, it has not done better than the stock market, maybe worse.

Sure, you say, but I got to live in it, right?

That brings up the dark side of house ownership. Yes, I got to live in it - but I also got to pay for repairs and go through all the hassles of finding competent plumbers, electricians, carpenters, etc. etc. Even not counting my own time and hassle, I put over $80,000 into the house over that time. Alternatively, if you buy a condominium, you get to pay a condominium fee, as I did before I moved and bought the house.

I do have quite a bit of equity in the house now. But that's mostly because by taking out a mortgage, I was forced to make a big payment every month. It's essentially an enforced savings plan. If I had rented and put the extra money into a mutual fund, I'd be just as well off now.

Now, about a new car. One of the reasons I was able to get the mortgages for the condominium, and later for the house, is because I didn't have car payments. In one case, I'd bought a car used; in the other case, I'd bought a car new and paid it off but was still driving it. The main reason new cars cost more than used cars is because they don't have any wear and tear on them, so they can be expected to last longer, provided you take care of them.

If you really like the C6, if you see yourself still driving it ten years from now, and if you really have the financial discipline to continue to save for a down payment or invest in retirement accounts and such, I would go for it. If you actually like the S2000 just as much as the C6, or you think you might end up spending all your money rather than saving any, or if you think you're going to want to switch to a 4 or 5 seater before you're 30, it might not be such a good idea.

 

dang...30K is a nice downpayment???
home prices in the bay area here avg at $550K for a 3 bedroom....more like $700,000 where i live