Can I afford to maintain a Corvette?

[compyelc4]

afjumper03-

Sounds good! I think I'd go for it then.

Enjoy.

 

[Bob Yates]

Hey ...afjumper03... As far as learning how to on your vette look into a night class in basic auto mechanics. Pick up the basics and tune in to this forum and you'll be OK. It sounds like you've got your ducks in a row so you'll be OK. I've own 8 vettes and have never lost money on them. A few times I got in trouble with money and the vette always got me out. They resell well . I do not like the years your after because of the opti crap I like 86 thru 90's the best and of course the C5 's . Good luck in your quest . Your ready to get into the fun part... Bob Yates ( Mr. Badwrench)

 

[mauivette]

Perhaps a vette as your sole and only (redundit) means of transportation might not be the most practical way to go. But as a second car and something to tinker with on the weekends they are unsurpassed. Parts tend to be a little more pricey than other cars but the pleasure that I receive from driving mine more than makes up for any $ that I spend.

I, and I think I am not alone here, look at mine as a "toy". Something to take out on weekends and "love" (wash and polish) and fix any small thing that may not be exactly as I want it. It brings me immeasurable hours of pleasure. Of course you could take up golf instead, but then you wouldn't get those envious looks from people of both sexes when you drive down the road.

Plus, good things happen to people who own corvettes.

Happy driving.

Skip

 

[BlackNBlue95]

In about 2 months I will be making about 24 grand a year after taxes and loan payments, not before other bills. Can I afford the maintance on a vette that is around 92-96 with mid to high milage? I will pay for it in cash when I sell my car, so thats not a problem. How much can I expect to pay a year for maintaince? How much do you guys out there with similar cars have to spend in regular and irregular maintence? Thanks for any help you can give.

I skimmed the posts but I wanted to throw my .02 for what it's worth.

I take it your a young guy like me I'm 21.. wanted a vette since I was little, bought mine when I was 20 worked my tail off to get it. Take my advice and buy a beater or a daily driver first. if you go that route you can have the available time to work on the vette yourself and decrease the maintainece costs.. if you don't want to go that route and will use the vette as a daily driver then when it needs work you may need to take it to a shop that can give you a quick turn around time. in my opinion based off of me purchasing parts for misc. GM's. Vette parts are more expensive compared to other GM vehicles. hence there more expensive to maintain even if labor is free like in my case.

Another Key point MAKE SHURE!!! that you buy a vette that has been taken care of. When I was looking for mine I wanted an admiral blue one.. I wanted to buy a 6-speed.. but couldn't find one in my price range. so I found a nice 39K mile auto while I was looking it over I found the trans fluid to be dirty almost black.. so I knew that the trans, 1 was either not serviced or beat on or both... but it shifted great on both test drives.. so I was in such a hurry to buy the vette that I did buy it.. I talked the owner down based on the trans issue and there were a few stone chips in the paint and such. few months later the trans decided to crap out on me.. Trans building is much cheaper if you can do it your self but it's not something I reccomend doing to everyone.. This was a good learning experiance for me and will actually help me in the long run becuase I already have people wanting rebuilds done.. but it can be a costly venture for someone who is not in the industry... anyhow lesson here is pic out a vette in nice shape try to work on it yourself.. and keep in mind it's a vette and people think there made of gold so parts are expensive.

OH also keep in mind you have to run premium gas and the insurance is more expensive. so it's not just the maintainence costs it's also the operateing costs that make them expensive..

-Rick

 

[JohnnyC]

I currently make MUCH less than you. And that is my only car. I got the Corvette about 1.5 years ago when i was sitting pretty making $40K. Now, i'm looking for a part time job in addition to my full time 9-5 job. I have cut back on much on my spending, bars, food, movies, etc...

Owning a Corvette is TOTALLY worth it. You'll kick yourself for not getting one when you see the next shiney red Corvette pass you on the highway.

John

 

[corvetteDan]

This is a great question, and for that matter great answers. My ideas are this:

When I bought my first vette I was 18 years old. It was a 1958. BUT! It was only $1500 back then. (I’m an old guy of 49). Presently I have a 88 C-4 rag top that I love. But, it is seen by me to be a toy, and only a toy. I do not rely on the car as a daily driver. I bought the car for cash, and maintain the car with “my funds” or the “vette” fund. To me this has to be liquid cash that is not needed for any other reasons. IE: Kids collage funds, retirement, investments, home repairs etc. In short, the Vette comes last, or near last in home finance. * Note: This is important along the wife/husband relations. After all, if your wife (for this of us that have them) is happy with the car your life is far more pleasant in owning one. (no, she does not have to like it, but better is she does).

I won’t go into income levels, but safe to say I have a very decent income. Notice I bought an older car, and did not invest in a new one or a more exotic car. Reason is, I could pay for the car with a check, and not even think about it. No offense, but if you have to ask the question about cost, it may not be time to buy. But, only you know that. (after all, you have to have a car of some sort right?) I’d just hate for my primary means of transport to be the vette. (sorry, but the Toyota Land Cruiser is bullet proof and I drive 99% of the time).

Good luck, and when you do decide to buy one be sure to have tons of fun!

 

[tyrel]

After owning three c4s, all I can say is that if you want to save money you should learn how to fix a lot of things yourself. My experience has been that these aren't the most reliable cars in the world, but they're not exactly the worst either. It isn't really the maintenance that gets you, it's the surprise things. Example: Stupid me, a few weeks ago I hit a speedbump that had a hidden pothole on the other side, and the displacement was enough for the speedbump to knock a hole in my oil pan. Well, you can't just buy an oil pan from anywhere, it has to come from the dealer (that's what they told me around here, anyway) for nearly $300.

To hell with that, I thought, and I immediately hit the internet looking for a used one. I found one for $100 from a corvette salvage yard by doing a Google search. The internet has saved me literally thousands of dollars in parts over the years, whether it's ebay or salvage yards.

So yes, almost anyone can afford a corvette, but you'd better know how to fix some things yourself if you're making $24k, sorry but that's the reality. You have good taste, because these are fantastic cars. I bought my first one years ago when I was in my twenties, and I never regret buying it, not even when my alternator blew on my 1990 convertible. At least it still looked good sitting on the side of the road, and I learned where to find a heavy-duty alternator.

Good luck!