Chasing dream cars

Rocket254

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You know that line from Heath Ledger's Joker where he says "I'm a dog chasing cars. I wouldn't know what to do with one if I caught it."? Well, yeah, I'm there...

Since I was old enough to know what Hot Wheels were, I have been a dog chasing a dream car. Specifically, a Viper. What started as something I saw as the title character in that crime drama NBC show turned into some kind of weird, mythical thing that I'd never be able to obtain as a kid growing up in a household where meals had to be skipped more often than I'd like to admit. Some sort of "You Made It" goal that wasn't even fully about the car anymore, if you will.

Once I graduated college, the dream was alive and well but, having my life priorities somewhat in order and being a cheapskate that would make Fred Mertz proud, I knew it would take a long time before a dream car became a priority...

Fast forward to today. Just turned 34, recently engaged to the girl of my dreams, and blessed that we both have solid careers that we are building. I own a few shingles of my home with the local bank and we just sold her home for a decent profit in a hot market. Between our spending habits, cash on hand, and some very fortunate investment decisions last year, I am sitting on more cash/investment assets than I ever thought I'd see in my life. One of those "don't pinch me or I'll wake up" kind of situations for me. I know this is all relative. You SVTP ballers wipe your asses with the money I'm talking about.

The fiancée has always supported this crazy dream and can tell you ever detail of these cars just from listening to me go on and on. Yet, ever since we laid all of our cards on the table and began the process of joining financial houses, she has really leaned in on me making this a reality. (Terrible thing, I know). The money works. She knows it. I know it. However, after all this work, I'm sitting here typing this ridiculous rant at midnight because, like the Joker, I don't know what to do with the car I just caught. I have no idea how to transition this from "dream" to a tangible thing taking up a spot in my garage. I'm not suppose to be able to do this. I've been told I couldn't. Yet, here we are.

Even worse? I'm not even sure I want to anymore. The financial guy in me says this is a terrible thing to do. I have a really difficult time spending money and have started to develop an unhealthy obsession with saving/investing to the point where I couldn't imagine making such a large purchase because I would be sick over the missed opportunity cost of such a move.

I'll admit to feeling a bit of FOMO with Viper prices this year. I've got my heart set on a Gen V but my wallet is kicking me through my pants. So much so that I've even begun bargaining with myself by looking at more affordable options like C6Zs and GT350s just to scratch the fast car itch.

Way too many paragraphs later (beer on me if you actually read all of this horse shit), I guess I'm asking for advice from people that chased a car dream for a long time. Did you push through or did sensibility prevail? Either way, I'm tired of having this over my head and I want to commit to one way or the other. /rant
 
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Corbic

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Cliff notes?

WTH car do you want, how much does it cost, how much do you have.

Don't be that 67 year old Boomer who just cashed his 401k to finally buy that '69 Camaro Z28 he spent 50 years dreaming about but always had an excuse about why "now" isn't a good time.

Don't expect any car to change your life. That's a "tool box fallacy".
 

MinGrey02Stg2

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Gen V prices are through the roof, but I doubt they will go back down. I bought a mint black 2014 GTS with venom red interior, TA aero, Harmon Kardon stereo, upgraded wheels, etc etc with 5,000 miles on it for $73,500 in 2017. I drove it for 2 years and sold it for $82,000 with 12,800 miles. That car is easily over $100k right now and if the prices stay like they are, is it really THAT bad of a financial decision? Buying a new Range Rover, AMG Benz, or BMW M car is what you call a bad financial decision. Gen V Viper? Nah. Get it and don't look back. I promise you'll look in your garage many nights and appreciate how badass it is.
 

noco5.0

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I don't know the depreciation on Vipers specifically but I would imagine they are holding value pretty well since they aren't making them anymore. If that's the case nothing wrong with buying one and hanging onto it to scratch the itch. I have two cars I've always wanted and they may continue to depreciate, but it's not going to be the massive drop of a new luxury car or something along those lines. There is a cost to hobbies but I prefer buying tangible assets that maintain some value versus blowing money on elaborate vacations, golf, etc. Even if it's not the best financial decision if you can reasonably afford it there is definitely something to the cliche of you only live once. As crappy as the last year has been it's definitely reinforced that notion at least for me.
 

72MachOne99GT

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Start saving up the money. Once you have enough to make a substantial downpayment, or purchase it outright (whichever type of purchaser you are) then decide if you still want the vehicle. If not, well then you have a nice chunk of change to get something else you want, or invest/leave it invested in something.

On another note. Vipers are something people that make good money in the middle class can reasonably hope to acquire. The GT dream isn’t something I could ever swing without some sort of life changing money acquisition.

Good luck.

edit: I missed the part where you’re currently sitting on the cash to pull the trigger. Disregard almost all of my post.
 

Weather Man

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Cliff notes?

WTH car do you want, how much does it cost, how much do you have.

Don't be that 67 year old Boomer who just cashed his 401k to finally buy that '69 Camaro Z28 he spent 50 years dreaming about but always had an excuse about why "now" isn't a good time.

Don't expect any car to change your life. That's a "tool box fallacy".

Holy Debby Downer Dude! Eat a snickers!
 

TK1299

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Op, maybe I can help give you the answer you’re looking for:

this is your “dream car”, you have worked hard and can attain it. What in the hell did you work so hard for, sacrifice and make smart decisions if you can’t have a little bit of your own happiness?
there is an old adage which basically says, be careful what you wish for, not that you might get it, but you’re doomed to not want it once you do. I doubt this is applicable here.
You asked what you would do with it if you got it. Maybe just walk into the garage and stare at it, as it is a symbol of positivity you have created in your life. Perhaps just pride of ownership; when i’m busy sometimes I think about the fact I have my cars and it seems to make me happy, just knowing they are there. Maybe a once per month drive around town that puts a smile on your face. Car guys understand roadway therapy and it’s a real thing.
Regardless of what you use it for, it will symbolize what it took for you to attain it. But I can tell you if you have wanted this for that long, you are only depriving yourself by not getting it now that you can.
 

Relaxed Chaos

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Enjoy what you can while you are alive enough to enjoy it. You will not live forever.

If you have the means, then you should do it. You can sell it after a couple years if you tire of it sitting in your garage.

Lastly, the desire, the research, the longing for a dream is often more fun then that dream realized. Don't be surprised if it's not everything you thought it would be... But go for it and find out!

Squeezed out with help from the svtperformance.com mobile app
 

CobraBob

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Sounds like you're in a good enough financial position to enjoy a Gen 5 Viper (or whatever you ultimately decide to buy) without putting a huge dent in your financial portfolio. You really want a nice car, which I'm sure you'll drive often to actually enjoy it (at least you SHOULD do that), so be really sure what you really want (not an impulse buy) and go for it.
 

Silverstrike

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first and second gen Vipers are not bad price wise but you are dealing with 20+ year old vehicles and so things can and probably would go wrong just due to the age of them. Third and up yeah they are totally crazy right now and like others have said they are not going to be going back down anytime soon.
 

RedVenom48

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The only car that I'd sell or trade my GT500 for would be a Gen 2 Viper GTS. Even then, I'd go into that ownership knowing that parts will be harder to find, power adders will all be custom, and insurance may be higher due to the rarity and ever increasing values.

That said, if you want a dream car and have saved for it, then buy it. I'm almost done paying off my GT500 and most of it was paid off before my daughter was born. Definitely makes it easier.

Also, since my wife cant drive stick, it's been easier to convince her of the need for an A6 Corvette to be my daily so she can drive it occassionally too. :D :D :D
 

1 Alibi 2

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I also had / have a thing for Vipers, twice I could have bought one, choked & ordered a GT5OO. Both times, between the cost of the car & mod $$$$ I put in them, would have paid for a Viper.
My advice to you,..............scratch that itch..
 

VegasMichael

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You need to buy it. Like others have said you can always sell it if you regret it or, if after a while, that itch has been satisfied.
 

FordMoCo21

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Honestly it's probably not the best time to buy a car, especially a desirable one. Prices are just crazy right now on almost everything. However, regardless if you buy now or in the future, just take a loan out on the thing. Do a little chunk down like 10%, then just make the payments while you get out of the honeymoon phase with the car. If you're sure you really want it forever then maybe pay it out to save some interest. Personally I prefer having cash on hand/investments, vs. paying off large priced items. Liquidity is king. Blowing the wad on a depreciating asset isn't a good time to me when it could be invested instead. Not to mention if your investments aren't too conservative you can overcome the interest quite easily, depending on how much capital we're talking about. The only curveball here would be if you don't qualify for the loan amount, you'd have to up that 10% to maybe closer to 50%.
 

Corbic

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Honestly it's probably not the best time to buy a car, especially a desirable one. Prices are just crazy right now on almost everything.

Gotta disagree.

Prices are not coming down. Here's why.

Yes, Covid constrained supply and for those still employed and with money - gave them more money as they couldn't spend money on travel and eating out.

Interest rates are retarded low. I'm sure you can get a 72/m loan at 3.8% for a Viper.

If the bubble pops what's going to happen is even if people need to dump their Vipers, it may drive $10k off the price but interest rates maybe +8-11% by then.

Second, if OP pays $100k for one, and in 3 years needs to panic sell for $85k same day cash when listing it..... That's $5k/yr which is still better then buying a $40k Mustang GT.

With all new super sports cars ending up EV, Hybrid and Automatic - the Gen V is going to hold a special spot for everyone.

The only risk the OP runs is his hero not living up to the hype or putting himself in a phone pole.
 

Rocket254

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Thanks for all of the feedback. This really took off. Lots of similar opinions in the replies. I'm certainly wanting to start enjoying some hobbies instead of just living this work/save/work cycle I've been stuck in.

Op, maybe I can help give you the answer you’re looking for:

this is your “dream car”, you have worked hard and can attain it. What in the hell did you work so hard for, sacrifice and make smart decisions if you can’t have a little bit of your own happiness?
there is an old adage which basically says, be careful what you wish for, not that you might get it, but you’re doomed to not want it once you do. I doubt this is applicable here.

This one in particular really hits hard. I am a little afraid of the possibility that ownership isn't everything I imagined it to be. Maybe "Don't ever meet your heroes" applies to cars as well.

You asked what you would do with it if you got it. Maybe just walk into the garage and stare at it, as it is a symbol of positivity you have created in your life. Perhaps just pride of ownership; when i’m busy sometimes I think about the fact I have my cars and it seems to make me happy, just knowing they are there. Maybe a once per month drive around town that puts a smile on your face. Car guys understand roadway therapy and it’s a real thing.
Regardless of what you use it for, it will symbolize what it took for you to attain it. But I can tell you if you have wanted this for that long, you are only depriving yourself by not getting it now that you can.

I'm this type. Just walking out to the garage at night and taking occasional roadway therapy cruises is just about all I want out of it. Like you mentioned, it is as much symbolic as anything else. I'm not looking to prove the car at the track or in Mexico. That doesn't matter to me.
 

DSG2003Mach1

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I get it OP, I bounce back and forth constantly between getting a new DD or keep driving mine vs having the payment even though I can easily afford it. Sometimes it's difficult to balance what you want to do vs what you feel like you should do but either way congrats for putting yourself in a good financial position.

Then there's my great aunt that did a great job of building her retirement nest egg and died of cancer less than 2 years after she retired and got to do basically nothing she wanted to
 

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