Age of 20 buy a Viper?
- Thread starter SRTRICKY
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Finally got it !
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Just my 2 cents. I can not see having a sports car for seven years. I get bored too easily...
BigCarrot
Enthusiast
I bought my first one when I was 21 or so, but I sure didn't finance it for 7 years!
thats true! i do have my daily driver as wlel though...i defenetly get bored with cars easily as well (4 cars in about 3.5 years of driving (6 months learner stage so 4 including that)...basiclly a car a year...i can trade the viper in and everything but then again i will take a huge hit...i don't think i'll get bored of it though...theres always a supercharger just in case i do (even a turbo lol)...the thing i'm thinkin is 7 years down the road I don't wanna look at the car and be like what a waste of money...i want to look at it like people look at the gen 1 vipers right now and say WOW WHAT A CAR! do you guys see that happening with the srt-10?
Early93Viper
Enthusiast
I am 26 and I bought my viper about 5 months ago. One thing that makes me appreciate having a Viper more than most is always having the crappy car when I was a kid. I mean I started my Landscape Company at 19 with an 88 Corsica. When my customers wanted there lawn clippings bagged I put the grass in the trunk. When that filled up I put the clippings in the back seat LOL. Used to take dates out in it smelt like sh#T. LOL
Anyways what I am trying to get at is you appreciate things more if you don't always have the nicest stuff. 20 years old is pretty young maybe you should “suffer” a bit longer..........With that said I would have killed to have a Viper at 20. Now that I have a Fiancé' I can't use the Viper to its full potential
Anyways what I am trying to get at is you appreciate things more if you don't always have the nicest stuff. 20 years old is pretty young maybe you should “suffer” a bit longer..........With that said I would have killed to have a Viper at 20. Now that I have a Fiancé' I can't use the Viper to its full potential
29OUTLAW
Viper Owner
Nothing wrong with financing the car. In fact, you should never pay cash even if you have it.
If you have 80K laying around in cash, you can invest it for at least an 8% return while the car loan costs you only about 5%. That means you can sit back and collect the difference of 3% a year on your 80K. If you pay cash, you collect 0% a year on your 80K. You can make out even better if you pay with a home equity loan cause then the interest is tax deductible.
If you have 80K laying around in cash, you can invest it for at least an 8% return while the car loan costs you only about 5%. That means you can sit back and collect the difference of 3% a year on your 80K. If you pay cash, you collect 0% a year on your 80K. You can make out even better if you pay with a home equity loan cause then the interest is tax deductible.
SylvanSRT
Enthusiast
its an ok point. you have to earn that money, and pay taxes on it, THEN pay out intrest with after tax dollars. I personally would cringe at owning a car that in a couple of years, i owe more than its worth. i prefer to pay cash when possible, why be bothered w/ payments and intrest if you dont have to. unless you lease and have your business write it off(pre tax dollars, again here). or have your business buy it and own it. then you run into other problems when you go to sell a depreciated asset(i have seen this work, and not work in a ferrari testarossa case). Guy can hardly afford to sell the car now that its depreciated he will have to pay a capital gains tax on the proceeds of the sale
You are going to get a variety of different opinions as to why you should or shouldn't, what I have found over the years is that if I want something bad enough, I will find a way to justify it. I usually just ask other people until I hear what I want to hear because I am going to do it anyway. Now just go buy the damn thing. 
BigCarrot
Enthusiast
You are going to get a variety of different opinions as to why you should or shouldn't, what I have found over the years is that if I want something bad enough, I will find a way to justify it. I usually just ask other people until I hear what I want to hear because I am going to do it anyway. Now just go buy the damn thing.
HAHAHA!!! ME too!
quickysrt
Enthusiast
23 here.
just get the damn ride and roll till the wheels fall off
just get the damn ride and roll till the wheels fall off
Andy 98 RT/10
Enthusiast
I personally would go for the best car I could get with cash. If I had around $20k and was looking for a sports car, I'd get a nice C4 Vette.
DodgeViper01
Enthusiast
Honestly, it is not worth it. DO NOT finance a car for 7 years. You WILL get bored of the car and even if you want a Supercharger later, why not just use that money towards the payments, if you had that type of money in the long run. Gotta look at it that way. Maintence of the car is also an issue. Warranty will expire after a certain term so you might have to buy another one. These cars are nice but not if you have to scrap to make payments. Invest your money and then buy the car with the return. Just my two cents.
What i did was took the money that i would of paid for the car and bought real estate.Then i rented the property out and subdivided the lot.I got a loan for my car.And part of the rent makes my payments.The other goes towards taxes ins property mainance.Since the property is free and clear you then can get line of credit on property to buy car or have for safety net.Intrest is usually prime+1.
I leased mine for 2 years. $1079.00/ month no $ down except 1st month lease and inception fees. I have 10000 miles per year so I dont have to worry, I usually only put about 6000/ year. I plan on using the Viper as my everyday car unless it snows. I can put my 20000 miles over the 2 years and not worry about resale value. In 2 years I can see what new, hot vehicles are around. I have been driving the car for two days and I am really loving it.
29OUTLAW
Viper Owner
Kind of what I suggest but even better. You can either have an 80K car sitting in the garage making you nothing or you can use the 80K to make yourself even more money. Interest on a car loan is only 5%. I not very money savvy but even I can earn more than 5% on an investment.
Tom and Vipers
Enthusiast
Buy a used one.
...and remember... you will be completely corrupted making subsequent car purchases even more difficult.
...and remember... you will be completely corrupted making subsequent car purchases even more difficult.
3 or 4 years left of school and you want to finance a car for 7 years? I think that's a stupid move. Who is going to finance a 20 year old student for a Viper? And if you have someone in mind, what interest rate are they trying to charge you?
Lets see, $75,000 financed over 84 months at 6.22% (going car loan rate) comes out to $1103 per month. Add in insurance for a 20 year old male with a Viper, maintenance, and fuel...I think you're dreaming...! I don't know of ANY student who can afford that...unless daddy's paying...
Just my opinion!
Lets see, $75,000 financed over 84 months at 6.22% (going car loan rate) comes out to $1103 per month. Add in insurance for a 20 year old male with a Viper, maintenance, and fuel...I think you're dreaming...! I don't know of ANY student who can afford that...unless daddy's paying...
Just my opinion!
vipersrt10
Enthusiast
-beats the hell outta my ford festiva i was driving at 20
RedSnakeGTS
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hold on a second...you have had 4 cars in 3.5 years?!?!?! I cant even imagine! That's a lot of cars...
In my opinion, if you can afford it, and you are DAMN sure of that, go for it- but only if it wont negatively impact other factors in your life. I made the move, albeit younger than you at the time, and I have never looked back. I think F355 will agree overall, though he has a different opinion of how exactly "to" buy it. He was in a similar situation about the same time as myself back a few years.
VIPERMIKE
Viper Owner
I'm 28 and have two Vipers. You only live once!!!!!Go for it...
BigCarrot
Enthusiast
Well I'm 26 and I have two! Nahnah nahnah boo boo! lol
haha...the thing is that...it will cut down on my going out money quite a bit...won't be able to party all the time but once a week is good enough for me anyways! I weighed the pros and cons and i'm defenetly going to go for it...now to wait for the perfect deal lol :$
nofearracer
Viper Owner
Before I bought mine my dad gave me this piece of advice. "In the end, it doesnt matter if you die with 2 million or 2 cents in the bank, all that matters is that you lived life the way you wanted with as few regrets as possible". So GO FOR IT!!!!
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