What have you had to sacrifice?

[Magicboy2]

Hey everyone. This is my first post here after a few weeks of lurking.

I know that everyone here loves their Viper (or Vipers), and it's not hard to understand why. It seems to me that many people who post on this board are somewhat affluent, and owning a Viper really isn't that big of a strain for them.

But I'm sure that's not the case for everyone!

I am seriously considering picking up a used one now that my current car is showing its age a bit. But I'm only 22, and although I do alright for myself as a web designer, the cost of owning a Viper would still be a good chunk for someone who's just starting out.

So, my question is, who here has made (or is making!) quite a bit of sacrifice in their lives so that they can realize their goal of driving a Viper?

 

[tattooed]

and don't forget to check insurance costs.

when i lived in downtown KC (very high insurance), insurance on a 99 Viper was $10,000/yr. i was 33 and had a clean record with no points.

living out in the boonies before that (Grain Valley, MO), insurance was $2500/yr.

that works out to about 4X what i paid for my C5 insurance.

at your age, you might have a difficult time finding reasonable insurance anywhere.

 

[Chuck 98 RT/10]

Being in computers and 22 years old, if you bought property now you'd be sitting pretty in 5-10 years. Which will go by fast, believe me. Besides, I wouldn't have a Viper if I didn't have a garage to keep it in.

Sigh...if I had it all to do over again.

 

[Ulysses]

If you have to sacrifice something important to own one, then you shouldn't buy it.

 

[Mark Young]

Aaaa, it all depends on your situation. I would say though that I agree somewhat with the previous posts due to the wording you used. I personally wouldn't "sacrifice" anything to buy a car, in fact a general rule I think is that if you have to sacrifice for something, you're not really ready for it.

I didn't take the advice though about getting the house first. Here in the bay area I was looking at 500K to get a house. I was (still am) a single guy, 25 (almost 26) at the time I bought my Viper (Aug '00). If I had followed conventional wisdom and gone for a house first, I'd be strapped right now with a 2-3K/month mortgage payment on a house that is now worth 1/2 to 2/3 what I paid for it (the housing market here is quickly hitting the crapper). Instead, I diversified some investments and took some cash and bought my Viper. I bought it used, to avoid a lot of the initial depreciation any car realizes. I did not finance it, I bought it.

Now, at 27, I've enjoyed my rookie ViperDays season and don't regret the choice I made one bit. The housing market is coming down and I may even jump in the next year or so when it makes sense to do so.

I guess the bottom line here is, don't necessarily plot your life out with get job, buy house, build equity, buy dream car. Too often a lot happens before that last step, like marriage, kids, college, etc. and the dream car gets pushed off. But also note, nowhere did I "sacrifice" to own my Viper, I think thats the important point to be made. All of us here will congratulate you when you get one, but none of us want to hear a few months down the road that you have to sell it because of outside pressures, financial or otherwise.

Just my $.02, your mileage may vary.

 

[Makara]

I'm 23 and bought my viper a few months ago. I bought my viper when I recieved a raise that was worth more than the price of the viper so the decision wasn't too hard. I thought about putting more money in the market but I had already lost about 30,000 in the past year and didn't feel like putting more in yet. After what happened on Sept. 11th, I'm glad that I didn't put throw more money away. I think the deciding factor for me getting the car was talking to my parents. I had been buying them really cool things but not really spending anything on myself. My dad finially told me not to worry about him. He said that I was young and I should enjoy my youth.
My advice to you is:
Have a retirement plan set up- this is a very good thing to start at an early age
Don't buy a viper if it is going to be your only car. I save a fortune in insurance by having a daily driver, plus
if I plan on going somewhere where I might get a doording I wouldn't dream of driving my viper.
Keep at LEAST 6 months worth of living expenses handy. I don't mean in stocks but in the bank where it is secure.
Plan on giving a lot of money to JonB because mods are addicting.

 

[Roland L-Ocala FL]

I had to wait a lot longer to get our '94 than most of the posts above, these guys are mostly still in their 20's. We built up equity in our home, and that is how we were able to purchase the '94. Did I really give up anything to get it, not at the time, because the mortgage rates went down so far, the payment on the refi did not go up much at all. This was a once in a lifetime opportunity for me, and we have managed to hang on to the car for 3 years now. A lot of owners don't hold them for that long, as other things come into their lives and change their circumstances. Make sure you are secure in your housing first, have something put away for a rainy day, these Vipers can get expensive to maintain if you want new tires all around ($1200 plus just for that), upgrades, etc., and then go out and enjoy the Viper experience. If you get a used one, make sure it is still under warranty or that you can get the extended one. Our engine is now in Detroit at Arrow getting a rebuild under warranty, what do you think that would cost if you had to pay for it out of pocket? I'm just saying be ready for the price you have to pay to own one of these babies, but then, when you get behind the wheel, you forget about everything else, believe me! Take some driving lessons too, they are worth it for this car, you will enjoy it so much more.

 

[silverviper]

I traded my soul to Old Scratch when I was 26 years old for a brand spanking 99 ACR. Wasn't using my soul anyway and giving it up was a weight reduction good for 0.3 seconds. Two years down the road I haven't regretted a thing yet....

Cheers.

 

[Jeff Torrey]

I am 40 years old. It took me 18 years of 6 days a week 10 hours a day. To get mine. By that I mean - 1 wife, 2 kids, 1 house, and an old beat up 92 with 20,000 miles on it.

If I had to sell that car I would never be the same. Unless I got another one.

 

[Tom Friend]

What did I give up? Well lets see...

There was that full year of dealing with a pi$$ed off wife because I brought home the car without consulting her first. (I thought red would be too "in your face", she says "why didn't you buy red?")

I had to give up a space in the garage which had been reserved for a Miura. (never regretted that one!)

Then there is the lack of toy funds for upgrades. I must decide between a new set of sails, or a JonB / SeanRoe / DougLevin upgrade. I am still leaning toward the sails, but I <u>must</u> do something about that lousy exhaust note...

We are 9 years into a 15 year mortgage, and the retirement fund is well underway. These are things you should do first. You will enjoy your indulgences far more if you are not feeling the guilt of screwing your financial future. YMMV.

 

[Gerald]

What did I sacrafice?
My wife.. was worth every **** penny...

have fun!
Gerald

 

[jgfurr]

I've sacrificed sleep, sleep, and more sleep. Why? 1) Because I worked extra hours to save for the car. 2) Now that I have it, I stay awake at night thinking about driving it everywhere!

Why would sacrifice be considered bad to some? It all depends on what you choose to sacrifice. By all means, don't blow your retirement plan or put your family on hold. But if you have absolutely no need to sacrifice time or budget for your dream car, then how special can your purchase really be? I'd think a 22 year old who worked 3 jobs to buy his Viper would probably enjoy it more than the 45 year old who bought the car without having to think twice.

Okay, I just donned my asbestos undies so flames are welcome.

 

[2tall]

I'm sacrificing my sanity by putting it off for a year. I could've bought it this year, but I got some tickets and my insurance went up, and err'd on the side of doing things the smart way.

However, now I don't have any student loans from college, my insurance is way down, and I don't have any debt to speak of (besides my current car).

As far as buying a house, I suppose that kind of depends. I'm not convinced that I'll be in the same spot for the next 3 years (which I've heard is the time necessary to accululate appreciation on a house), so buying a home isn't my best alternative (I feel). Plus, I feel there is a fairly good chance that the housing costs will reach a limit and crash, what with all the homes and condos going up around here with a minimum cost of $300K...

 

[Acatala7]

ummm ok....HOWEVER....you're going to pay 25K for a standard car that you'll use as an everday vehicle. A vehicle that you can park in the mall parking lot. A vehicle you can ride in the Sun, Rain and Snow. If you're going to pay 40K for a viper you'll most likely only be able to get a Gen I with that kind of money. You'll have a car with no doorhandles, no real windows,no air conditioning etc etc etc..hence not a very good car to be used as an everyday.To top it off, Vipers are awefull in the rain, and i've heard many complaints that Gen I's leak like a waterfall.

Buy the 25k car, or buy a neon for less than that. Wait a bit longer for the snake.

<FONT face="Lucida Console">That's my story, and i'm sticking to it!</FONT f>

 

[motomike]

Go for it cause why waste money and time with another option. If you buy and keep it awhile, it will pay off in the long run. You need to decide what it is worth to you. Personally I find greater value in a car that I appreciate day in, day out. Not some vehicle that one just lives with. Personally if you buy a house, then add family, etc. you've added alot to your financial obligation. You can still do house later...

 

[Magicboy2]

All very interesting responses, thank you all!

My main problem is that I'm far too prudent of a person to easily part with the $40,000 or so that I'll probably drop on a used Viper. However, a few interesting points...

One... With proper care, it would probably hold its value pretty well, and if worse came to worse I could sell it. Although I doubt that would happen.

Two... suppose I bought a standard-level new car, that would probably set me back $25,000 or so... so rather than seeing myself as splurging $40k, I'd only be splurging $15k or so, since $25k of it would have been spent anyway. Ain't rationalization somethin'!!! Plus better to spend $40k on a car that I'd love than for $25k for something that I'd be lukewarm towards.

And to top it all off, you only live once....

Thanks again for the responses... I look forward to posting again someday as an owner.