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Should I buy a Corvette, or what?

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Discussion Starter · #1 ·
I've wanted to own a Corvette ever since 1980, when I was a five year old kid and would ride in the cargo area behind my parents' new 1980 white coupe. My parents have owned many over the years (they currently own a 1998 C5 coupe with 12,000 miles, but an automatic) and I even took one to my senior prom.

Current Situation
I am married and have two small sons (ages 2.5 and 4 months). We own two vehicles, a 2004 Accord EX V6 with 67,000 miles, and a 2008 Sienna Limited AWD with 3,500 miles. The Accord is paid off, but the Sienna will not be until December 2013 (at about $515 per month). Both vehicles have been reliable for me (the Sienna damn well better be, since it's less than six months old and hasn't even had its first oil change yet!) and I could keep the Honda for easily another 67,000 miles. Also, the Honda gets about 22-23 miles per gallon the way I drive it. We have a two car garage and park both vehicles i the garage at night.

I'm now at a point in my life where I feel that I could add a third car to our fleet, at least financially speaking. If I got something in addition to our current two, the oldest (the Honda) would sit in the driveway while the Sienna and the new car got the garage spot.

The Dilemma
Here's the problem: as much as I'd love to own a Corvette, my wife and I had an interesting conversation today about how often I'd really be able to drive it, other than to work (and I park in a public garage, which is nice, but still a risk IMO). On weekends, we do things together as a family, and that makes the Corvette impractical. So does trading in the Accord for a Corvette and using it as my daily driver, since I'd get worse fuel economy and not have an emergency fallback if I had to pick up one of the kids from somewhere.

So, how do I justify a $42,000+ purchase (I'd probably get a 1LT 6MT with NPP performance exhaust and a glass roof, and that's it) when I can't even tell her when I'd use the car? I can't take it to Corvette shows unless I want to go by myself, which sort of defeats the purpose. She said that's why you always see 50 year old guys in Corvettes (or in DuSpinnst's case, unmarried guys with good jobs - and I didn't have a great job when I was unmarried), because their family obligations are no longer as pressing.

She'd be totally fine with me spending the money instead on an upgraded car for me, but I'm a little hesitant to do that for two reasons: 1) I don't know what gas prices will do, so I'd hate to commit to a less-efficient car like a G8 GT only to see gas at $4.50+ for the entire time I owned it, and 2) replacing the Accord with something new (except maybe a Honda Fit, since they're cheap) means delaying the Corvette purchase until either the Sienna is paid off or I can put a lot more money down on the car. It's almost ridiculous enough for me to entertain the thought of two $500+ car payments, let alone making payments on three cars at once.

Anyway, here are the options as I see them. Please vote above. :)

1. Keep the 2004 Accord, buy a new Corvette in 2009 (please help with justification!)
2. Keep the 2004 Accord, buy a SKY Redline in 2009 (much smaller payments, as long as I fit into it, which isn't a guarantee at 6'4" 190)
3. Trade 2004 Accord on 2009 Honda Fit, buy Corvette in 2010-2011
4. Trade 2004 Accord on 2008 Pontiac G8 GT, no Corvette.
5. Trade 2004 Accord on 2008 Cadillac CTS DI, no Corvette.
6. Other (please specify).

And yes, I know that the economical solution is to just keep the Accord until its wheels fall off, and no, I don't want to drive this car for another 5 years, even though it's been really good to me. I'm bored with it.

Thanks in advance for your help.
 

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A DI'ed CTS seems to hit the sweet spot, balancing functionality, power and fuel efficiency (relatively speaking), plus you'd have a bit more wiggle room (price wise) to play with the options sheet if you wanted to do that. How can you pass up that interior too.....?? ;)
 

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Discussion Starter · #5 ·
Thanks guys - good advice so far!
A DI'ed CTS seems to hit the sweet spot, balancing functionality, power and fuel efficiency (relatively speaking), plus you'd have a bit more wiggle room (price wise) to play with the options sheet if you wanted to do that. How can you pass up that interior too.....?? ;)
As much as I love the Corvette, in your shoes I'd go with a G8 GT. Maybe later when the kids are older you can get the Corvette.
Damnit, I don't want to be 50 when I get one (if they even still make them 17 years from now).;) My only problem with the G8 is the fuel economy (well, and the lack of nav, but I could get over that). I'd get a loaded GT (premium package, 19s, etc.) and with my GM Card it would be under $30k even before trading in the Honda. But I'd never be able to keep my right foot out of it, and I'd probably get 17 mpg instead of 22 mpg. At $15k per year I think that's another $100 per month or so at $4 per gallon.
I voted for the CTS DI. That way, you still get a fun toy since it is a great driver and practicality from the V6 and four doors.
Obviously I love the CTS (hence my avatar) and I can't take my eyes off of them when I see them in the wild, so that's a good choice. The fuel economy would also be better than the G8 GT's, although equipping a CTS as I'd want it, it would easily be $10-15k more than the G8 GT. The options get expensive fast.

My wife is sort of an environmentalist (she likes the Camry Hybrid - ugh) so a V8 sedan would be a tough sell, but I did try the angle of "hey, instead of $40k for a CTS and $40k for a Corvette, how about a CTS-V with a ZR1 engine for "just" $60k? That'd save me $20k, right? ;)

She didn't go for it, unfortunately.

I do think the EPA numbers are good enough on the G8 GT that I could sell her on that.
 

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From a father to a father. Keep the accord, throw the extra money at the Sienna. 2013 is a loooong way off, think about paying the sienna off by 2010. Enjoy an year or two of no payments
 
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If you do opt for the 'Vette I would encourage you get a used one. Most Corvette owners I know bought them used. I did when I bought mine. You save some money and the depreciation is off it.

Unless, you just have to have new. Then I can't help 'ya ...
 

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I voted for the CTS option. Fun, but practical. Perhaps you can buy a Corvette, new or used, several years down the line. Your kids will be older and perhaps they can work on it with you if they become interested in cars. Wouldn't that create some great father-child bonding?:cool:
 

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i voted for the G8 GT, with minor upgrades, 400hp isnt hard. then you have the power, the style, and a little more room for your car seats. while the CTS kicks the crap out of the G8 in style and interiors(not to mention it's a Caddy), the fuel economy isnt that much better-plus you cant beat a V8. probably should note that i havent driven the new cts or the G8 yet-got to sit in them, but thats about it.

does anyone know how the rides compare?
 

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Get the Impala SS and take the family with you on the weekends. No risk in the public parking garage, blends in nicely (doesn't scream steal me). Less crowds at Impala shows. Dump the Accord in a couple of years (see where gas prices are) and get the wife a Corvette for Xmas. She'll love you so much she'll let you use it 80% of the time and you'll be happy as a clam. The downside is that all the husbands in the neighborhood will hate you and try to TP the Vette
 

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I'd say G8 GT since you'd still get your V8 RWD and it would still be a practical vehicle for the wife and kids to ride along.
 

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No brainer... get a used 'vette.

If you change your mind later, you can re-sell it for around what you paid for it.

All of my Mustangs were "temporarily owned" in that way (for a couple of summers each) and didn't cost me much. (I actually made a nice profit on the first one.)
 

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Do like I'm doing, buy a semi-used C5. They're extremely affordable, look great, and with simple mods can out run LS2/3 Corvettes. The only subjective things are looks (I personally feel the C5 looks superior to the C6) and if you feel comfortable not having a warranty.

I'm currently seriously interested in a 2000 coupe loaded with all options except Z51, red, tan leather, 24000 miles for $23,000. Great deals abound and its sure to get better as the economy tanks even more.
 

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Discussion Starter · #16 ·
Looks like most folks here are voting for either the CTS or G8 and no Corvette, which would probably be a more practical choice. I read last night that the 2009 G8 will drop orange but add a dark red metallic and a medium blue (the purpleish one doesn't do anything for me, but I like blue a lot; if I had to pick today, I'd probably get black or grey).

I have no problem with a used Corvette as long as it's been babied. I used to love C5s until the C6 came out, and now I really can't get past the rear end of the C5. The C6 just looks SO MUCH better to my eyes. The only reason I'm more inclined to go for a new Corvette rather than an old one is because most C6s I see listed for sale are still asking $36-40k, except 2005s wtih 30,000 miles, but even those tend to be over $30k. If I'm going to spend $36k for a used one, I might as well get a new one for the low $40,000s (and I can use the full $3,600 of my GM Card earnings toward the Vette - or CTS or G8 - because I have an original card with earning limits but no redemption limits). So the $42k Corvette becomes $39k.

The practicality question is still probably the biggest obstacle to the Corvette. Having the Honda for a G8/CTS trade-in would certainly be an easier purchase, because buying a $40k Corvette with no trade-in versus a $32k G8 with a $10k trade-in means I'm paying almost double the cash for the Corvette.

Thanks for all the suggestions so far!
 

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Discussion Starter · #17 ·
i voted for the G8 GT, with minor upgrades, 400hp isnt hard. then you have the power, the style, and a little more room for your car seats. while the CTS kicks the crap out of the G8 in style and interiors(not to mention it's a Caddy), the fuel economy isnt that much better-plus you cant beat a V8. probably should note that i havent driven the new cts or the G8 yet-got to sit in them, but thats about it.

does anyone know how the rides compare?
I've sat in both a CTS and G8 GT at auto shows, but haven't had the pleasure of driving either yet. However, a friend spent a week in a CTS DI AWD and a few hundred miles driving a G8 GT and couldn't stop raving about either one.
 

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little kids = little bills. Big kids = big bills.

You either do it now and get the vette or do like my father and for-go a Corvette for 25 years of his life...(we have the Trans Am vert and he kept the 77' around which I drove in H.S. so we still had fast Fbody V8's but still its no Corvette and never will be.)

Your bills will only go up from here, if you're going to do it, do it now. Keep the accord and everytime you get 'bored' with it...think I can go home and drive the vette with one of my son/daughter or take my wife on a date in it while the kids are babysat at home. Even though I drove a boring import sedan, I OWN A CORVETTE...

our 02 T/A has 46k miles on it in 6 years. We only drive it in summers.

If you really love a vette that much and can do it now...GO FOR IT!!!

Another option for seating (but still a COMPROMISE OF YOUR DESIRE is to get a Camaro Z28/SS...but again its NOT a Corvette.)

Think about how long you've wanted one, and how important it is to you. If its that important you'll order one. if not, you won't. Simple.

Regards,

CobaltSS
 
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