Author Topic: Story about the new Corvette... analysis of Gen Xer's  (Read 9534 times)

Forcus

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tooqk4u22

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #1 on: January 23, 2013, 08:06:04 AM »
The points seem to be accurate.....good example for me is that if I were willing to spend $60k on a performance car I would go with the Caddy CTS-V Wagon - all the power and a performance of a Vette with all the practicallity of a wagon. 

Also, why is it that all these 60 year old guys that drive vettes seem to do so at 15 MPH below the speed limit?

cbr shadow

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #2 on: January 23, 2013, 08:58:23 AM »
Maybe I stand alone on this, but I love the idea of the new Corvette.  I could probably never get myself to buy one, since I drive a car that screams everything BUT performance (2001 honda insight) but I still lust after a high performance car like this.  I used to be a car guy but decided my financial goals are more important.  If I was looking in the $60k price range for a 2nd car, I would definitely consider the 2014 Corvette.  I'm 29 yr old.

As for the CTS-V wagon, I couldn't see paying $60k for a wagon, ever.  I like the CTS-V but the wagon just kills the good looks.  I say for $60k get a used Corvette Z06 and if you need utility get a cheap used wagon.

Actually what am I talking about - just get a 2001 Honda Insight and invest the rest of the money :)

fiveoh

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #3 on: January 23, 2013, 09:05:22 AM »
Love the new vette.  I would have bought a c6 but needed a backseat(ended up in a new 5.0 mustang)... so I fit that list.  Ultimate family car = cts v sedan.(not a huge fan of the wagon either)  Actually the vette gets the best mpg out of all of those(30+ hwy mpg on the c7) and more than double the ctsv... sports cars are my kryptonite. 

arebelspy

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #4 on: January 23, 2013, 09:07:05 AM »
Corvette's always been my dream car I will never own.  The new one is awesome.

I've never thought of it as an old man's car, but apparently that was just me.

Thought the article made some really good points though.
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tooqk4u22

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #5 on: January 23, 2013, 09:12:45 AM »
I agree on the comments about wagons and would rather have a true sports car, but I like versatility, practicality, and utility.....oh yeah I have three little tooqs so to the CTSV wagon fits the best of all worlds.  Kind of like we have a minivan right now - the are f'in awesome for almost everything....other than its an f'in minivan. 

Besides I am a muscle car guy so in reality if I was going to get a toy (without regard to money, fuel, environment, etc) it would be a big block something or other (Chevelle, Camaro) because there is nothing better that hearing and feeling the rumble of a big block when you light up the tires and it throws you back in your seat with top down.  Damn it now I want one - financial goals can wait!

Matte

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #6 on: January 23, 2013, 09:22:53 AM »
I like the corvette, the new one is pretty cool althought I like the previous softer style more. I will say that they actually get really good mileage on the highway, unlike every other car I had owned the vette(older) mpg didn't deteriorate above 60mph, i would like to see how the new one compares in mpg to a civic at say 80-90mph, led foot mpg test where aerodynamics really come into play.

BlueMR2

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #7 on: January 23, 2013, 09:58:19 AM »
Nice car, but it just doesn't have the price advantage that it needs.  For $60k I can be in a Porsche Cayman, which may be slower in a straight line but is going to be a better/more fun car in just about every other way.

Forcus

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #8 on: January 23, 2013, 10:04:45 AM »
lol, sorry, didn't mean to trigger a thing on Corvettes (I wouldn't mind a used one but as someone mentioned, I'd rather have a CTS-V wagon!!).

What I thought was interesting was the thoughts on Gen Xer's. Looking through the hypotheses, I can say for me that it is. Paraphrasing, but Gen Xers are gunshy on spending significant money, even if they have it. Another point was the flashyness. I think it's been said here but frugality is the new fancy, or at least not appearing to show off money in an obvious way.

Jamesqf

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #9 on: January 23, 2013, 11:41:46 AM »
If I was more than marginally interested in spending lotsa money on a performance car, it'd be a Lotus.

galaxie

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #10 on: January 23, 2013, 02:42:47 PM »
If I was going to buy a $60k car, it'd be the Tesla Model S.  But I don't get to do that kind of thing until the house is paid off, so.

Jack

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #11 on: January 23, 2013, 02:48:53 PM »
Nice car, but it just doesn't have the price advantage that it needs.  For $60k I can be in a Porsche Cayman, which may be slower in a straight line but is going to be a better/more fun car in just about every other way.

A friend of mine bought a (five-year-old) Porsche Cayman S for $25k a few years ago... it's a very nice car.

My plan, once my high-interest (but not low-interest) debt is paid off is to get an $8k-$10k 4th-generation Corvette. It's capable of similar performance to the afore-mentioned Cayman, but requires much more driver skill to get there.

Then I'll get rid of it in favor of a CTS-V wagon after I have kids.

.. unless I cheap out and buy a $3K Miata, followed by a $5K Mazda5 minivan instead.

bo_knows

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #12 on: January 23, 2013, 03:03:11 PM »
I drove a series of old used slow-as-dirt 4 cyclinder cars for as long as I could remember.  Even though I had the income, I could never bring myself to buy a crazy muscle car.  As a compromise to myself, in 2009 I bought a Mini Cooper S and plan to drive it for a decade or two and run it into the ground.  The car is zippy and is fun as hell.  Not quite the thrown-into-the-back-of-your-seat sort of feeling that a Vette might get, but it's consistently fun... and gets 40mpg on the highway if you're careful (even for a turbo!).

TomTX

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #13 on: January 23, 2013, 05:45:26 PM »
If I was more than marginally interested in spending lotsa money on a performance car, it'd be a Lotus.

Tesla.

...but I'd need to have stupid amounts of money to actually buy one.

Skyn_Flynt

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #14 on: January 23, 2013, 06:34:42 PM »
I have only known a few Corvette buyers, and yeah they were men in their 50s.

I would not want a car that is so exotic, that I'd be afraid to park it on normal errands in public places ... for fear that it'll get door dented, stolen, or "keyed" by a malicious punk.


James

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #15 on: January 23, 2013, 06:59:53 PM »
I don't want one, but I would absolutely love to borrow one for a couple days each summer...  :)


Got to agree with Tom, the Tesla would be fun to own.


Regarding Gen X, they might pull in a nice chunk with styling, but overall I think the desire for the muscle car is slowly fading.

tkaraszewski

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #16 on: January 23, 2013, 08:01:44 PM »
I was born in 1981 and as long as BMW is making the M3, I can't see any reason I'd want to buy a corvette.
« Last Edit: January 23, 2013, 08:25:06 PM by tkaraszewski »

DocCyane

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #17 on: January 23, 2013, 10:00:06 PM »
I hate that Gen-X is still being referred to as the "slacker" generation. My generation has been lost in the shadow of Boomers for decades and it's tiring living off whatever crumbs have been left by that swarm of self-indulgent locusts.

Chevy is still being run by a bunch of old white men who think everyone should like what they like and value what they value. I wouldn't buy this vehicle just like I don't listen to the Beatles and don't write in Word Perfect.

The Silent Generation did a much better job of bowing out gracefully. Except for some Congress members who need to retire.

turtlefield76

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #18 on: January 23, 2013, 11:15:03 PM »
this ^^^

NWstubble

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #19 on: January 24, 2013, 12:15:01 AM »
The Silent Generation did a much better job of bowing out gracefully. Except for some Congress members who need to retire.
Well played, well played indeed.

Forcus

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #20 on: January 24, 2013, 07:26:06 AM »
I hate that Gen-X is still being referred to as the "slacker" generation. My generation has been lost in the shadow of Boomers for decades and it's tiring living off whatever crumbs have been left by that swarm of self-indulgent locusts.

It's funny because in some ways the boomers are more "slackish" than the X'ers. X'er's can't count on union benefits, pensions, or even social security to be around. That means they will either have to A) work harder, B) work longer, or C) live cheaper. That is not to say that some or even most boomers didn't work hard, but I think that this and future generations are going to have to work more intelligently to survive.

DebtDerp

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #21 on: January 24, 2013, 09:15:12 AM »
Millenial here, I am absolutely obsessed with cars and what do you know? I don't own one. I will someday though. I have always been a huge fan of the BMW M3 and for something more practical I like the new Subaru BRZ and Scion FR-S. If we are talking big bucks though it would be a Nissan GT-R. Even bigger bucks? Mercedes SLS AMG. Now I need to go wipe the drool off of my chin.

JamesAt15

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #22 on: January 24, 2013, 05:28:07 PM »

It's funny because in some ways the boomers are more "slackish" than the X'ers. X'er's can't count on union benefits, pensions, or even social security to be around.

Interesting Forbes article: Why Social Security Can't go Bankrupt

Forcus

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #23 on: January 25, 2013, 07:37:12 AM »

It's funny because in some ways the boomers are more "slackish" than the X'ers. X'er's can't count on union benefits, pensions, or even social security to be around.

Interesting Forbes article: Why Social Security Can't go Bankrupt

Interesting, but it assumes that (1) funding intake (taxes on working folk) = current output needs (promised benefits to people currently on SS). He does discuss this in part toward the end but says the answer is to raise taxes or reduce benefits. The first can only be utilized to a point (and ironically, the higher the taxes, the lower the individual's savings, making it more likely they will need SS in retirement). The second supports SS not being around - or more likely - around in a much reduced form. So I guess I would revise my statement to be "SS to be a dependable source of funding in retirement". I truly don't think SS will cease to exist but at age 31, I have exactly zero of my retirement plans depending on ANY SS income. If there is some, great, but not in my scenarios.

GoCubsGo

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #24 on: January 25, 2013, 09:04:41 AM »
In my experience, the Millenial's I've worked with tend to care less about cars than their predecessors. My generation (X) is split as some of my friends care some don't.  I follow car auction values (I wanted a second "toy" car but am now re-thinking due to finding the MMM blog) and used Vettes are starting to drop hard (especially 70's & 80's). I know two Baby Boomers who had to sell their Vette's due to deteriorating ability to drive and they took a long time to sell. If Gen Xers think Vettes are old men cars and Millenials don't care I wonder what will happen to all those old Vette values (probably not good)

Audi A7 (or even better S7) is the way to go for me and was sure that was my next car until I found this blog.  Starting to rethink the whole expensive vehicle thing in general.

Forcus

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #25 on: January 25, 2013, 09:59:58 AM »
In my experience, the Millenial's I've worked with tend to care less about cars than their predecessors. My generation (X) is split as some of my friends care some don't.  I follow car auction values (I wanted a second "toy" car but am now re-thinking due to finding the MMM blog) and used Vettes are starting to drop hard (especially 70's & 80's). I know two Baby Boomers who had to sell their Vette's due to deteriorating ability to drive and they took a long time to sell. If Gen Xers think Vettes are old men cars and Millenials don't care I wonder what will happen to all those old Vette values (probably not good)

Audi A7 (or even better S7) is the way to go for me and was sure that was my next car until I found this blog.  Starting to rethink the whole expensive vehicle thing in general.

I think you are refering to the Model T syndrome (I'll trademark that...). "Brass" cars used to be in vogue when older guys wanted to relive their childhoods. Well those guys are gone and the car prices are pretty stagnant. Not only that but the older Corvettes were advanced for their time. Take a ride in one and it's a pretty sobering experience. The newer cars outperform the older ones by a significant margin. I've seen used C5's (97-??) for just above 10k. I do see younger guys buying these up, but only as an alternative to an economy car... no 50-60k sports cars in their garages.

I totally hear ya on the expensive vehicle thing. At our gross income, the "expectation" is a couple of medium end imports in the driveway. She has a 4 year old Escape and I have an 11 year old Focus. We have a 2005 Volvo S40 T5 that on paper is a better car than the Focus in every way (on paper). But I feel extravagant driving it..... might be going on the chopping block soon. I can't really downgrade much from the Focus... it's kind of a bottom feeder in the car world :)

BlueMR2

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #26 on: January 25, 2013, 10:55:16 AM »
I truly don't think SS will cease to exist but at age 31, I have exactly zero of my retirement plans depending on ANY SS income. If there is some, great, but not in my scenarios.

I think they'll keep finding ways to prop it up for the future.  However, at the heart, SS is a scam, it's just a government sponsored pyramid scheme foisted upon us by those that couldn't see past the end of their own noses.  Works OK as long as the population grows (and stays employed) a t a decent rate.  Fail to sustain that rate and it'll collapse.

arebelspy

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #27 on: January 25, 2013, 11:15:40 AM »
I think they'll keep finding ways to prop it up for the future.  However, at the heart, SS is a scam, it's just a government sponsored pyramid scheme foisted upon us by those that couldn't see past the end of their own noses.  Works OK as long as the population grows (and stays employed) a t a decent rate.  Fail to sustain that rate and it'll collapse.

You shouldn't believe every conspiracy theory you hear, even if you hear it more than once.
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Jack

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #28 on: January 25, 2013, 12:51:41 PM »
Not only that but the older Corvettes were advanced for their time. Take a ride in one and it's a pretty sobering experience. The newer cars outperform the older ones by a significant margin. I've seen used C5's (97-??) for just above 10k. I do see younger guys buying these up, but only as an alternative to an economy car... no 50-60k sports cars in their garages.

Yep, that's basically my plan: why drive a 140 HP Civic when you can have a 400 HP Corvette for the same price? (Or, why waste money on a $60k Porsche when a Corvette is $50k cheaper?)

Forcus

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #29 on: January 29, 2013, 11:28:15 AM »
Not only that but the older Corvettes were advanced for their time. Take a ride in one and it's a pretty sobering experience. The newer cars outperform the older ones by a significant margin. I've seen used C5's (97-??) for just above 10k. I do see younger guys buying these up, but only as an alternative to an economy car... no 50-60k sports cars in their garages.

Yep, that's basically my plan: why drive a 140 HP Civic when you can have a 400 HP Corvette for the same price? (Or, why waste money on a $60k Porsche when a Corvette is $50k cheaper?)

True that. I might pick up a CTS-V in the next year. 400 HP and 27-28 MPG highway. Not mustachian but could do far worse.

strider3700

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #30 on: January 30, 2013, 12:09:57 AM »
maybe it's different where you are  but insurance on the vette will cost more every couple of years then a 10 year old civic would cost up front.  Also until you're driving a gas hog you have no idea how painful it can be.   Driving my truck is basically the equivalent of lighting a dollar bill on fire every 5 miles. It would really take the enjoyment out of a performance car.   

As well I used to own a motorcycle.  A very very very fast motorcycle.  There wasn't a single stretch of highway within the province that I couldn't break the speed limit on in first gear. I had 5 more to go after that.   It was ultra cool for the first couple of months and then it was just frustrating being stuck putting along next to an almost broken down 1970's boat of a car because fast cars and bikes are basically cop magnets.   I sold it after one year.  I look back on it like it was the greatest thing I ever bought but I'm pretty sure selling it was the smartest thing I ever did and buying it would be the dumbest.

BlueMR2

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #31 on: January 30, 2013, 09:59:00 AM »
I think they'll keep finding ways to prop it up for the future.  However, at the heart, SS is a scam, it's just a government sponsored pyramid scheme foisted upon us by those that couldn't see past the end of their own noses.  Works OK as long as the population grows (and stays employed) a t a decent rate.  Fail to sustain that rate and it'll collapse.

You shouldn't believe every conspiracy theory you hear, even if you hear it more than once.

Oh, are people calling it a conspiracy theory now?  I came up with that by doing the math...

Flynlow

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #32 on: January 30, 2013, 12:03:46 PM »

Yep, that's basically my plan: why drive a 140 HP Civic when you can have a 400 HP Corvette for the same price? (Or, why waste money on a $60k Porsche when a Corvette is $50k cheaper?)

That's what I did too! :)  Though this was 4-5 years ago, mine was more Honda Accord pricing haha.  I think I was 24 when I got mine.  Looked at M3s, Porsches, a few others, and nothing came close for the $$.  I was an engineer just out of school, and wanted a sports car, darn it!  Haha. 

maybe it's different where you are  but insurance on the vette will cost more every couple of years then a 10 year old civic would cost up front.  Also until you're driving a gas hog you have no idea how painful it can be.   Driving my truck is basically the equivalent of lighting a dollar bill on fire every 5 miles. It would really take the enjoyment out of a performance car.   

You would be surprised, I certainly was.  Have you priced it?  My insurance bill, for liability, comprehensive, AND collision (full coverage, high limits), was less than my roommates insurance for a Honda Civic Si, by almost half.  My understanding is that insurance companies main metric for cost is how often they pay out on that car, not performance, weight, power or any of that, though it's certainly factored in.  Because so many more people drive Civics, and a lot more of them are stolen or crashed per year, the Vette was actually quite reasonable.  For every young dumb engineer that buys one and drives it like a sports car, there are 20 retirees who buy one, never drive it, and wash it twice a week.  It really helps!

Fuel economy is a fair point, when I used mine as a daily driver, I averaged 22mpg in mixed use.  But you can affect your fuel economy more than just about any car:  they have a huge engine, which works against them, but they're VERY light (mine weighs 3150 with a full 19gal tank of fuel) and they have great gearing for either performance or mileage.  My best highway tank was 38mpg, driving at 50mph with the cruise on, AC off, headlights down for 6 hours, just to see what it would get.  My worst tank was 4mpg, driving as fast as I could at Carolina Motorsports Park, a racing track.

thurston howell iv

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #33 on: January 31, 2013, 11:34:32 AM »
While I'm still relatively new to the "Mustachian Way" and a non-slacker Gen-Xer, I have to say that having a huge car payment has never once appealed to me. The New Corvette or new whatever - for that matter, all seem to be exceedingly expensive. (Maybe I've gotten spoiled by not having had a car payment for years)  What sort of terms would you need to have a "reasonable payment" on $60k?

I know a lady who insists on a new Escalade every few years. Her payment was down to somewhere around $700... I mentioned that it seemed a bit steep and she agreed so she downsized to a Lexus truck... (um, ok)

Another guy I know bought one of the fancy S Class Benzes when they came out. He liked to brag that his payment was $1500 a month!  I don't know about you guys but I don't think I could bear the thought of parting with that sort of dough for a car payment..

Now, don't get me wrong, I think the corvette is an engineering marvel. Lots of the new stuff is. However, the recent stuff is so good that the super-expensive new stuff is a non starter for me.  AND I'm a car guy. I have 6 in my fleet. (yeah, I know, I'm working on it)... But, why would I buy an impractical (ie: 2 seat) corvette for $60k or any other new car for that price when there's so many decent used ones. Heck, you can buy find decent used "luxury" cars for a fraction of their original prices... (Land Rover, Porsche, Benz, BMW)  I'm talking under $25k!

These days I dd a 97 Honda Civic. It has 115hp. It rides like crap, it handles like crap and isn't all that pretty either. However, it's paid for, it's reliable, it gets awesome mpg (38-43 depending on the loose nut behind the wheel) and I can take it anywhere and not worry about it.  I'd love to be back into a "newer" car, some thing powerful and stylish with handling and all the goodies but, these days I've grown really fond of driving past the gas station.

One of these days...

Spork

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Re: Story about the new Corvette... analysis of Gen Xer's
« Reply #34 on: January 31, 2013, 11:58:31 AM »
If I was going to buy a $60k car, it'd be the Tesla Model S.  But I don't get to do that kind of thing until the house is paid off, so.

If I was going to buy a $60K car I'd....

sorry, I couldn't keep a straight face to the end of that sentence.  Outside of inflation-adjustment, I could never buy a $60k car.

...if I were to spend stupid money on a vehicle, it'd have wings.  (Even that is not bloody likely.)