You only live once...

A friend of mine is having another kid and will be getting rid of his 01' Vette. He offered me the chance to just take his loan without anything else of top of it, which is around $11-12k. I could take his loan over, and after selling my car, would reduce my payment by about $100 a month, which I would roll back into the Vette loan to pay it off.

The reason I'm considering this is 1) My Accord while sufficient for getting to work, and hauling 2 out of 3 kids, doesn't fit the whole family. We have a van for our main family hauler and the Accord doesn't really get used except to get me to work and around town. 2) I will be buying a mid 90's truck to replace the one I sold last year. The truck will be family hauler plan B, and used for hauling our ATV. 3) even though I would be going from one car payment to another, the Vette is worth more than my current car and for the price, if crap hits the fan I could sell it and make out ahead. 4) I'll have 3 vehicles regardless but the Vette could fill the Accords role in life and give the wife and I a nice date/weekend car.

The details haven't been totally worked out, and will undoubtedly be the what makes or breaks this idea. But as for now, it's a slow night at work and I'm mauling this over in my brain.

Man, 27 views, only 6 votes and one reply.

Rofl, you're like the voice in the back of my head screaming.

I'm trying to rationalize the idea...

evillepaintball wrote: Get an insurance quote, then get the car.

Surprisingly enough, even though I'm under 25 replacing the Accord with the Vette results in a $20 increase. Which, I can live with. Being Active Duty + clean record since I was 15 + USAA = seriously reasonable insurance.

I vote Hades.

Think of it this way, when is the next time your gonna find THAT good off a deal on an 01 vette? they are still goin for over $30k here (idk how, dont ask).

SSOK wrote: Seeing as the Accord does not get used for hauling kids much, I would consider selling the Accord, and buying a slightly newer truck (I am partial toward mid 90's Ford trucks myself, but you would be lucky to find a clean one). It sounds like you dont need the Accord, and only need two vehicles. Is the Vette stick or automatic? Because the actual cost of driving a mundane Accord is significantly less in gas+repairs with the vette.   If you can afford the vette+truck+wifes car, I would say go for it. Personally, I would just use the truck+wifes car and be done with it. Restore an old car when your kids are older and you have a garage.

I've been debating the 2/3 vehicle thing for awhile and when I had all three costs were relatively low and everything was covered. 2, seems to make the most sense. But the van is paid for, and the truck will be purchased outright. I thought about selling the Accord and scoring a slightly nicer truck compared to what I would be buying. Then I thought about using the truck as a daily commuter/around town and I wasn't enjoying it. I had a 92' Chevy 1500.

The Vette, while not quite as economical as the Accord, isn't terrible either. Depending on how I flog it, should return high 20s on the highway and mid teens in town. Maintenance is higher than the Accord, but the LS1 is a fairly solid engine.

Eh, more thinking to be done. Truck+van seems most sensible, however...

I say go for it, only because I'm about to trade my very reliable 96 Camry with 90k miles for a 91 BMW 318is with 190k miles. Don't think, just do stuff.

Gatyr wrote: I've never seen the appeal for eating meat, so my opinion doesn't count.

I would love to have a vette and let someone rent to own it. I would love it even more when they made the last payment and the bank mailed the title to me.

oldpbnoob wrote: Let us know when this episode airs on The Peoples Court.

How so? I have 3 options 1) Purchase the car outright from him. 2)apply for the loan through his bank and 4) apply for it through my current bank. So the peoples court can be left up to the ones who just decided it'd be fun to throw money at someone hoping for rainbows and unicorns to take of the rest... kind like voting for the current POTUS (Zing!)

And as far as the "nice" car, I guess it's not that it's a nice car but since I've been owning vehicles I've never purchased one for selfish reasons. My true dream car would be a Viper, between 2000-present. But that one will have to wait until I finish up the next 17yrs with Uncle Sam. Buying the Vette would just fill a gap of immaturity that I have from knocking up the wife 3 times, starting when we were 15.

Outside of that, the logical part of me sees that the price is good but on the other hand it's not needed and well I don't love having a car payment.

We shall see...