In appealing to common financial wisdom notwithstanding my insane desire to purchase the C7, I wonder if purchasing my (status 3000) Z51 red stingray is a sound decision. I am 38 years old, married with two young girls (6&1). I own my own business, make above six figures, and my wife is a stay at home mom. In the last three years i have had incredible financial success but the market is changing for me such that i don't know what the future holds. My net worth is below $500k and my annual income could decrease in the next 2 years as I am self employed.
I want it. . .bad. I am a v8 American sports car guy and though late model Corvettes have failed to stir my loins, the new C7 was love at first sight. from the moment i saw the unveil I have been incessantly trolling for videos, articles and anything C7.
I have never purchased a new car before and am feeling a little bit of anxiety of the prospect of spending $70k when i still have a mortgage and other work related liabilities. I DON'T want to be 55 before I get my dream machine (no offense to the respected elders on this site, but it is you whom I am addressing).
My potential purchase of a C7 is a pure selfish act to appease my desire for HP, torque and overall bad-ass-ness. BUT, with it comes speeding tickets, higher insurance, maintenance costs, aftermarket upgrades
, etc.
How can one know if they are ready to spend $70k on a luxury two seater sports car when they have a lot of ground to make toward retirement and financial security?
Do I have permission to pull the trigger?
How are you justifying your potential purchase of the new C7?
