Opinions, Mod 2011, Buy 2020 Z28 or 2020 base model vette

[Capster78]

Just curious what some would do in my position. Lets say you had the following choices.

- Keep 2011 2SS (25k miles), put $20-30k into modding it, probably supercharged with boltons. (paid off, have title)

Positives: No car payment, reduced insurance payment (don't need to carry full coverage).

Negatives: No warranty, daily driven, prone to mechanical issues due to age / aftermarket modification.

- Trade 2011 SS in with a 20k down payment on a 2020 Z28 fully loaded.

Positives: Full factory warranty, fast off the showroom floor, being the first owner...brand new..

Negatives: Car payment, full coverage insurance..

- Trade 2011 SS in on a mid range - base model 2019 / 2020 Corvette w/ 20k down

Positives: Full factory warranty, fast off showroom floor, being first owner, cool factor, nearly the same price as a fully loaded Z28.

Negatives: Car payment, full coverage insurance, speeding ticket magnet, even higher insurance.....

Opinions? What would you do...

[DRKS1D3]

A. There is no such thing as a 2020 Z/28

B. Why not carry full coverage even if the vehicle is paid for? I have never dropped FC after a vehicle has been paid. If you're looking to save money by cutting your car insurance, keep the '11 SS. You don't need another payment.

[kingofthelv]

i thought about getting a 2019 chevy corvette but i love the no car note plus i have a v8 that looks great. i will just use the money to get some spots corrected on my car plus my grille repainted plus be happy
keep your car

[Capster78]

Originally Posted by DRKS1D3

A. There is no such thing as a 2020 Z/28

B. Why not carry full coverage even if the vehicle is paid for? I have never dropped FC after a vehicle has been paid. If you're looking to save money by cutting your car insurance, keep the '11 SS. You don't need another payment.

Yeah, I realized there was no 2020 Z28 after I posted, was to lazy to edit. So it would be whatever the Z28 equivalent turns out to be for 2020.

Insurance for me is quite expensive. There is probably a $100-$150 a
month difference between full coverage and minimum coverage just due to my shitty driving record.

[DRKS1D3]

Originally Posted by Capster78

Yeah, I realized there was no 2020 Z28 after I posted, was to lazy to edit. So it would be whatever the Z28 equivalent turns out to be for 2020.

Insurance for me is quite expensive. There is probably a $100-$150 a
month difference between full coverage and minimum coverage just due to my shitty driving record.

Ok. That would be a 2020 ZL1 1LE (~$65-70k). They have already been released.

It is ultimately up to you, but with your poor driving record costing you big $$$, I would stick with what you have. Trying to save money by cutting your car insurance coverage is not a logical decision. JMHO.

Good luck!

[Capster78]

Originally Posted by DRKS1D3

Ok. That would be a 2020 ZL1 1LE (~$65-70k). They have already been released.

It is ultimately up to you, but with your poor driving record costing you big $$$, I would stick with what you have. Trying to save money by cutting your car insurance coverage is not a logical decision. JMHO.

Good luck!

For me with insurance its more the principle than anything else. I have dealt with insurance companies for 20 plus years and know that unless they were making a profit off of it, they wouldn't be providing the service. Meaning, you'd be better off paying for whatever repairs you need out of your pocket then paying full coverage insurance. For one, they usually used shitty repair contractors to fix their cars and your insurance increases and you end up paying for the repairs plus your insurance anyway.

When I say I have a terrible driving record, that includes 1 accident in 20 years and just a bunch of speeding tickets. Only REALLY needed them once when I totaled my 2001 TA, but I will pay that off and then some thru additional insurance costs. So to me, insurance is a complete scam that costs you more in the end... So I try to pay as little of it as I can, meaning if I pay a car off, I drop all the coverage.

[blackedOUTSS610]

Just my $0.02 .... I love the look of the 5th gen. so I would stick with that. Again ... I am biased.

[Greenhornet2]

I would. (because I did) build the 5th gen.

[silversleeper]

This is a duplicate to your other thread. We gave thoughtful advice that you didn't want to hear.
Ok spend every last dime you have mod'ing the 2011, now you got the reply you are looking for.

[Capster78]

Originally Posted by silversleeper

This is a duplicate to your other thread. We gave thoughtful advice that you didn't want to hear.
Ok spend every last dime you have mod'ing the 2011, now you got the reply you are looking for.

No, the other thread was about mod'ing the car I have, I didn't introduce the possibility of purchasing a new car. Someone did bring up the idea of buying a Z28 / ZL1 but at the time, I didn't think it made a lot of sense until I found out that I was going to be getting a sizeable tax return this year. It began to appeal to me more because before, without a sizeable down payment, the monthly payments were going to be more then I wanted to pay. With this tax return and savings I currently have, it makes buying a brand new car affordable for me. Now that it is affordable, the factory warranty and reliability (seeing its a daily driver) of a new car is quite appealing. I threw the Z28 / ZL1 option in there as a 3rd viable option, but I absolutely LOVE the way Corvette's look. So If I decided to buy a new car I would probably go the Corvette route, but a ZL1 would also be tempting.

[Greenhornet2]

Nobody can make up your mind for you. You can do anything you like with your money. I don't know what you are looking for here. If you like the new corvette and want the payment then buy it. If you resell in a short period of time you'll lose about the same amount of money no matter what way you go.

[DRKS1D3]

Originally Posted by Capster78

No, the other thread was about mod'ing the car I have, I didn't introduce the possibility of purchasing a new car. Someone did bring up the idea of buying a Z28 / ZL1 but at the time, I didn't think it made a lot of sense until I found out that I was going to be getting a sizeable tax return this year. It began to appeal to me more because before, without a sizeable down payment, the monthly payments were going to be more then I wanted to pay. With this tax return and savings I currently have, it makes buying a brand new car affordable for me. Now that it is affordable, the factory warranty and reliability (seeing its a daily driver) of a new car is quite appealing. I threw the Z28 / ZL1 option in there as a 3rd viable option, but I absolutely LOVE the way Corvette's look. So If I decided to buy a new car I would probably go the Corvette route, but a ZL1 would also be tempting.

I kind of got a vibe from your first post, but now I'm certain of it.

I don't know how old you are, but by saying you have 20+ years of experience with insurance agencies, that means that you're older than 20. It is your life and your choices to make, but why dump every last dime you own (except for the tax return that you don't even have yet) into a car? It is a depreciating item. It is a fool's game. On top of that, you're going to daily drive a Corvette in Virginia winters? Good luck. If I only had enough money to purchase one car, I certainly wouldn't have bought my Camaro or my Corvette. They wouldn't even make it out of my garage in the snow. And if they did, both front-ends would be torn off before I got to the end of my driveway.

Again, it is your life. Do as you please. I'm in my 30's and I want to retire sooner than later. Blowing all of your money on cars will only ensure that you will most likely die of old age on the job and your coworkers will have to push you off to the side with a dust-mop and continue working around your lifeless corpse. I'm not trying to preach or act like an old man, but what you seem to be doing is both irrational and illogical. Being able to afford something and "outright purchasing" something are very, very different.

All I'm offering is sound advice. Best of luck to you.

[pyroguy]

First, there is no 2020 Z/28. I know you already stated that you saw that after you posted, but since you also said you were "too lazy" to correct I have to give you extra grief because of the lazy factor.

Second, if you're going to purchase a Corvette, 2019 or 2020 makes a BIG difference. The 2019 being the last front engine Corvette and a C7 where the 2020 is the first mid engine Corvette and a C8. Two different generations and completely different configurations.

Third, as a person who has scraped their way out of consumer debt and never wants to go back, I'd say mod the crap out of the 2011. Just be sure to use quality parts and a quality shop, if the mods are beyond your ability. Don't just throw a bunch of eBay parts at it because they're cheap, but some quality pieces. Even quality "budget" parts are better than just whatever is cheapest just for cheap factor.

So IMO, I would mod first, 6th gen ZL1 second (the 6th gen ZL1 1LE is too rough as a DD), C7 third, and C8 fourth (if you can even get one still).

[Capster78]

Originally Posted by DRKS1D3

I kind of got a vibe from your first post, but now I'm certain of it.

I don't know how old you are, but by saying you have 20+ years of experience with insurance agencies, that means that you're older than 20. It is your life and your choices to make, but why dump every last dime you own (except for the tax return that you don't even have yet) into a car? It is a depreciating item. It is a fool's game. On top of that, you're going to daily drive a Corvette in Virginia winters? Good luck. If I only had enough money to purchase one car, I certainly wouldn't have bought my Camaro or my Corvette. They wouldn't even make it out of my garage in the snow. And if they did, both front-ends would be torn off before I got to the end of my driveway.

Again, it is your life. Do as you please. I'm in my 30's and I want to retire sooner than later. Blowing all of your money on cars will only ensure that you will most likely die of old age on the job and your coworkers will have to push you off to the side with a dust-mop and continue working around your lifeless corpse. I'm not trying to preach or act like an old man, but what you seem to be doing is both irrational and illogical. Being able to afford something and "outright purchasing" something are very, very different.

All I'm offering is sound advice. Best of luck to you.

No, this is all good stuff. I'm just looking to try to be persuaded to NOT buy a 2020 Corvette at this point. As far as consumer debt and retirement are concerned, I hear ya. Believe me, I have owned 3 F-bodies and now this 2011 2SS. The first (99 MBM TA) I bought brand new when I was 22. Of which I also spend a good $20k - $30k in mod's. Spend a good 5 years getting out of debt after selling it. Then owned 3 more, all of which had Bolton mods. So I have probably spent $120-$150k in car's and parts over the last 20 years.

I plan to retire in 8-10 years. As far as retirement goes, I feel the Corvette would be the better choice. I'll probably still be able to sell it for $20-$30k 8-10 years from now where as a heavily modded 20 year old Camaro would be lucky to fetch a few K. So the $20-$30K I put into the SS plus the price of the car would all be lost vs being able to get at least $20-$30K out of selling the Corvette. Figure $15k car plus an additional $30K in mods and then selling for maybe 5K if I'm lucky is a loss of $40k and will only be +$5k in usable income for retirement vs getting the $15k trade in value now and having $30k of usable income when I sell the Corvette.

I will be retiring in the Philippines and will be living comfortably off my military retirement. So buying a Corvette and then selling it when I'm ready to move to the Philippines gives me $30k of moving money, vs almost nothing for a heavily modded 20 year old Camaro.. Which would probably be faster, but that's not my only consideration as you can see. I'm looking for a fast, reliable daily driver I can enjoy. I can easily see myself cheesin pretty hard sitting in a 2020 mid engine Corvette. But at the same time, I could see myself happy laying the smackdown on a stock vette. But if I were the Corvette driver getting the smack down from a heavily modded Camaro like myne, I would probably think... yeah.. he beat me, but a Camaro is still not a Corvette.

Maybe someone can feel me here... but still convince me that keeping the Camaro would be the better choice.

Thanks for all the perspectives out there. I'm having an argument with myself and am just looking for someone to break the tie...