My Monthly Payment On 2024 Corvette C8 ZO6 3LZ
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- čas přidán 16. 06. 2024
- My Monthly Payment On 2024 Corvette C8 ZO6 3LZ
One of the most important numbers care owners want to know is....
How much is the monthly car payment...
How much money am I going to have to hand over to the bank every month...
In today's video Brandon with @hookedonsupercars shares the monthly car payment on his brand new 2024 Corvette C8 ZO6 3LZ...
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Ouch !!!
I do not think anyone ever thought they would pay 2200 a month for a corvette. As much as I love the Corvette I would never pay that much a month for one.
Real good man, real good!!!!!!!!!!!!!! I subbed!
My man!! Appreciate ya bro!
nice and concise video, good stuff bro
Appreciate itt bro!
One think to keep in mind is the type of loan you took out. It’s a front loading loan meaning you’ll pay your interest first before cost of car.So when you sell car in 1 1/2 yrs or 2 you have only paid mostly interest and very small amount of principal. So now car has depreciated over 2yrs and your pay off is still 99% of original loan 150k or whatever your loan amount was and now your upside down also your down payment was minimal you need at least 25-30% down.Also if you financed threw GM they have a clause that you can’t sell car for a yr. So in a nutshell you won’t be able to sell that car to meet your payoff and will more than likely have to add cash to sale price you screwed yourself
in my vette the clause is 6 months...whether you finance through GM or use your own bank..when i sell it i will cover my cost and will have driven the car essentially free for 7 months...i will share the numbers when i sell...no way i would keep it 2 years🤣🤣🤣
Great choice on the PPF. My C8 is as well. My next jump is naturally the Z06, I’ve also been looking at Mclaren’s around the same price but I can’t justify owning one out of warranty VS having a brand new Z06. Decisions , decisions. Anyway thanks for sharing. I switch cars every 6 months to a year as well so just like you… as long as the payment doesn’t break the bank, who cares. These cars hold value so well especially in today’s market. Subscribed!
thank you! Congrats on the C8 and your next exploration!!!
That's what I'm talking about precise informative non-offending and to the point thank you sir and never lose that thrill
I'll purchase my ZO6 the Dave Ramsey way........Cash.
🔥🔥
Yep...just ppf and ceramic coating!
Everybody’s hating on him because he’s paying 2200 a month for a car payment if he’s making the payments no big deal if he can afford it no big deal he’s paying for the experience and he’s not gonna lose that much money. He might lose a few thousand here or there, but that’s about it.
Most people don’t have 150,000+ cash for a car so financing it with little down and trading it in after a year you’re basically only renting it and that’s OK cause you’re experienced it for a year and it only cost you. Let’s say $30,000 $35,000. No big deal.
A $2,192 a month car payment? You sir need to watch a Dave Ramsey video about finances.
Dave Ramsey is an idiot. He does not practice what he preaches..
Just keep listening to him and you’ll always be safe and have same two bucks in your account you started with 10 years ago.
Great video, most people get caught in the hype and do not have an entrance plan or exit plan. 2K payments is nothing when offset by passive income. I have bought and sold 5 C8's since 2020 and have a Z06 and E-ray coming at MSRP will drive them for a few months make video and sell them for the 2026 ZR1! Keep up the great work, and keep dropping jewels!!
Yes you are smart and probably like to invest your money. Unlike these other morons that keep commenting about how the $2000 month payment is just so stupid blah blah blah they’re the same ones that live in the same house they lived in 30 years ago, they play life safe and will never have more than what they started with.
As a lifelong Corvette enthusiast, with all due respect, sir that is insane in every sense of the meaning. Plan or no plan, $2,200 for 84 months? That is literally double my mortgage. I never owned one and it blows my mind how people afford these cars. You should make a video on how you afford such a high caliber monthly payment on a want, not a need.
If you have no kids and make $130K its not unreasonable thats probably $6500/mo post tax, then house/food is probably only $2.5K? so you have $4K to spend. Its alot though...if you make more $150, $180, $200K then its even more do-able
@@usmanshahid2219 I hear your logical, but this is insane. The average US salary is what $50k and home is $300k? People who own these cars are unbelievably privileged. Not my opinion, based on the numbers. I have a mortgage and two kids so I can’t event afford the steering wheel haha
Don't forget Full coverage Ins...
2200 aint shit enjoy life fcuk what they say
That’s an amazing deal for a high spec’d Z06… not only that, he’s NOT planning on keeping the car so the bank will never see all that interest anyway once it’s sold or traded in. Comparing a mortgage to a car are two very different animals considering your mortgage may have been a 30 year loan way before APR inflation.
I get his point of view. Think of it as flipping a house, but the risk of lower ROI through depreciation is higher.
It’s a corvette not a Bugatti or koesingsegg regera
Congratulations on the Z06. As you said, the bottom is way too crowded.
thank you!
I bought my first brand new car when I was 19. It was a brand new 1965 Mustang. I paid cash for the car and drove off with the title in my name. It cost me $2300. I thought it was a pretty nice car.
How times have changed..
Ps. That old Mustang wasn't like a new Corvette, but it was still fast enough to get tickets.😂
Im interested in knowing what your average depreciation is on your new cars once sold? Then add in monthly payments. That could be a large sum of disposable income GONE!? I've done the opposite. Saved and paid outright (no interest payed, or loss of capital) on great used car(s) at what I believed were a deal(s). I have no monthly payments, and so far they've appreciated. But it still is money tied up in vehicle(s), storing them and maintaining them. So I'm interested in your ownership. Thank :-)
Make an appointment with a financial advisor ASAP
Ok, so what you are saying is... Yea, I want to have this toy, which is $150,000 but I don't want to pay for it outright with cash and be done with the acquisition cost. Instead, I want to put 5K down and then also buy the $145,000 from a bank, thereby paying them an additional 6.5% per year on that $145,000 so that I can have the toy in my garage. Nice move Warren Buffett! No wonder so many people are broke.
Here’s I look at it! I’m on number 7 in the last 24 years !! My guys at work give me crap !! I tell them I don’t have a boat deer lease or Denali!! If u had the money they spend on those things are less than my vettes
The depreciation on C8's is insane right now. You're talking as if you think you're going to flip a C8 you bought at full price. I'm sorry that's not gonna happen. Already your Z06 is worth about $125K which means you're already 25K in the whole if you actually found someone to buy that car right now.
i dont get it but then again i buy cars to enjoy and drive. i also dont have nearly the money you do. most cars i buy i keep for awhile. sadly auto prices have got so out of control that buying what i want just isnt practical.
Just a couple of things here. Regardless of how long you own that car, you will be upside down financially the entire time. The longer you hold it, the worse it will be. Have you ever seen an amortization schedule on a house of interest vs principal? Next, I fully get the PPF thing, but you do realize you never get that money back on resale, right? I mean, it is like $7K for full PPF on that car if you use XPEL and have a good installer, and if you don’t do that, you are going to get a crap job. And, you could basically get the car repainted at the end of your ownership with that $7K. If you are honest with yourself, you will (hopefully) learn from this experience that it was not a good financial move and not do it again. By the way, I have a couple of bridges for sale if you are interested, and I am willing to offer you a “rent to own” plan, which is similar to your car deal. Just a little tough love, Brother. You’re welcome.
Obviously the man has the bread so if he’s good with it so be it HOWEVER if you just use BASIC $ for performance/experience the BETTER play would be the C7 Z06 which is 80K cheaper and at 650 hp 650 ft/lb torque it just like the C8 Z is FAR BEYOND limits you will ever be able to even come close to reaching on the street so to me I don’t really get the play……
You intentionally left out the part where you had to pay taxes on this? How much was that?
You said all of that to say you're leasing it 🤦🏾♂️🤦🏾♂️🤷🏾♂️ damn bruh
No lease Einstein...regular purchase.
Less than a 1000 miles, I personally wouldn't even bother, because something like that is going to be driven...A LOT! LOL. Like he said, everyone has their own strategy.
Congrats fam,those insane payment numbers but I guess your credit allowed it😮
A word of advice, never do car payments. Pay for it upfront and be done with.
that advice is similar to credit card advice (dont use cc) ..it's good for the average credit card user who probably has a low to average net worth and doesnt understand assets and liabilities...thanks for sharing!
Your better of leasing it at this point .. $2100 car payment..84month bad investment.
Hope you have other investment that’s paying the note
What about Insurance, and gas🤔😎
if i kept it 84 months it probably would be a bad investment...but how do you call it a bad investment when you dont know the ROI...??🤔🤔🤔
@@hookedonsupercars
It’s a corvette not a porche or Bugatti
doesnt need to be...the ZO6 has proved it's value...which is why many have been on waiting list for 2 plus years...
84 months at 2.2k$ maybe you meant 48 months ? Enjoy
5k down payment? Sign me up! I’m getting the 70k used 2020 C8 so I’m sure my 720+ credit score should be approved for that
Thanks for sharing.
I commend your strategy/plan. It isn't for me, since I outright paid full cash for my C8 and I plan to keep it for long term.
The strategy may work unless, like other C8 owners, you begin upgrading with more than just PPF and ceramic coating. As someone who owns two Vettes, I can tell you, I will not pay for the current owners' upgrades. In fact, some upgrades give me insights into how they drive the car and that may lead to increased ownership cost for me later...I will deduct that from the asking price. So, if you are just sticking with PPF and ceramic coating, then ok. Enjoy your ride.
thanks for stopping by and commenting! Yep! Putting on the brakes right about now!!!
An RN earns after taxes $120k per year....so...yes 2.2k is manageable but as he said for a couple of months...then ANYBODY with half a brain will get disgusted....sell, and recover...may turn out be be a rental for 6mnths at less than$100/day
Insane you are not a corvette guy and if you were you wouldn't have a car not like that and with 5k down you have no profit😮
If you had to drag your payments to 84 months, you couldn't afford this car in the first place. My monthly payment? $0
No had to - chose to. If you only plans on keeping it a short time then selling it, it would make no sense to take a short term loan with high payments. It's like a slightly higher priced lease.
i can understand the headache it could cause, but i dont see how financing a c8 is that bad, especially if you can comfortably afford the monthly payment. for example, if im making 1500 every week and my monthly payment is at least below 3k i should be perfectly fine considering id still have 3k left for the rest of the month. a c8 z06 is one of my dreams and I'd love to believe i can easily own one considering ive done the math and thought about everything. 1500 is what id be making a week and that would increase in time. my parents also want me to stay with them so i can save money and just focus on work, so with being said I'd have no other expenses other than the monthly payment. so i should be perfectly fine, right? correct me if im wrong, of course. its just in my mind i can see me having a c8 or z06 and still remaining pretty comfortable considering my circumstance.
😂😂 outta yo’ damn mind
-and under a thousand when sold 🤦🏻♂️ why bother
Obviously he can’t afford the car . To put 1000 miles on a car in 6 months or a year means his basically looking at it 😂. Plus the PPF and ceramic is at least 7 thousand if he did the whole car or 2000 for PPF for the track package. The problem is people think is still 2021 when you could a car a flip it for more . That’s a circumstance thing it will never be that again .
Tell me you’re financially stupid without telling me you’re financially stupid. The Z06 market is correcting itself big time right now. You missed the sky high resale value by 6mo and it’s not going to get better due to more being built every month going forward. The 2025 Z06’s will have a new redesigned interior which is another reason you will get nowhere near what you think you’ll get when you sell your 2024. Oh and let’s not forget the ZR1 looks to be coming out in 2025. You might as well light money on fire because that’s basically what you just told us that you’re doing. Cars are a depreciating asset. There’s a reason why cash is king and cash buyers have all of the power when purchasing a vehicle.
You seem kinda jealous.. who cares what he spent..what he will get when sold.. ZR1 will be impossible to get.. most dealerships will see a few, and that's it.
@@DH-mp6fg How am I jealous when I own a c8 Z06 with the Z07 package? You sound like you have your pronouns tattooed on your lower back.