Man Asks Financial Guru “Can I Afford a Corvette ZR1?”

[VIDEO] Man Asks Financial Guru “Can I Afford a Corvette ZR1?”

The Suze Orman Show

Flipping through the channels over the weekend, I came across this little gem on a cable tv show. A viewer named Dan calls into The Suze Orman Show on CNBC and asks the financial diva if he can afford to buy the 2009 Corvette ZR1. In this same segment, Orman approves a $6,000 ring and a pair of $900 high heel shoes so why not grant Dan “the man” his dream car? But before Judge Orman rules, Dan has to present an overview of his finances. Watch the video after the jump.

Dan, seriously…calling into a financial talk show and asking permission to buy your dream car? Do what you want to do, and good luck finding a Corvette ZR1 at $120,000.


Source:
CNBC

Related:
Corvette ZR1: GM Releases Official Pricing
[VIDEO] 1st 2009 Corvette ZR1 Sold for $1 Million

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Senior Editor and founder of "Corvette: Sales, News & Lifestyle". I drive my dad's 1966 Corvette Sting Ray Convertible and call the Corvette Museum home.

6 COMMENTS

  1. I love Suze, but she doesn’t have a clue on this one. Dan (buyer) doesn’t have the savings of someone who goes out to buy a normal everyday car at $120K. But the ZR1 will be a car that transends new car status into instant collectable status. While Ferrari’s and Lambos depreciate, this one will stay at the top of the heap unless it is abused. Liken the ZR1 to the Ford GT40 or a 55 Mercedes gull-wing, not to a regular production $120K new BMW or new Mercedes. I doubt she knows the first production ZR1 was sold at auction for $1M. I doubt she knows the era of the supercar is at an end. She’s much too sensible to dance over to the enthusiast arena.

  2. I think it is a little hard to compare the ZR1 with the Ford GT. Mainly due to the fact that the GT was a stand alone model only produced in two model years with total units of just over 4000. With the ZR1 you have distinct differentiation in a similar limited run 2k/yr, but you still have 40k Corvettes built each year between coupes, verts, and Z06’s. Lastly, check ebay on GT prices, mostly around MSRP, some as high as 15% more. From a financial perspective, Dan could do better with his money in the long run thru traditional investments. Suze was right, the guy should be thinking about his retirement account first at his age. I’m 29 and have that much in my 401k.

    My personal opinion is the ZR1 will end up depreciating just like anything else. If they made only 100 of them it would be considered collector worthy, but 4k units?

  3. I gotta agree with Eric on this one. However, a collector car is only worth what someone is willing to pay for it. I would expect Ford GT prices to come down further before they ever see significant appreciation. Historically, all the limited/special models have seen early speculation kick prices sky high only to later find reality a cold shoulder.

    Our beloved mid years are now over forty years old and worth considerably more than they were when new but the question I ask friends frequently, Is the 2008 ZO6 going to be worth 17 times what it sold for today in 40 years?? Considering that gas will probably be depleted by then – no joke – it seems unlikely since you will not be able to drive any of today’s cars.

    Fun post- thanks

  4. You have to be kidding.

    The ZR-1 will drop like a rock just like the 1990 ZR-1 did back in the day. The 90 ZR-1 listed for $60,000 and people paid $100,000 back in the day. Some people will be paying $150-200k for this ZR1 model. They will lose a ton of $ as well. A Car is a depreciating asset. The fact that the 1st ZR1 sold for 1 million is irrelevant. It’s because it was Barrett Jackson and the bidder has the 53. The shame is the car will never be driven at all. That being said the ZR1 is kick ass, I’ll just wait a few years for a used one when the prices drop significantly.

  5. Everyone makes very good points. My younger brother who is a mechanical engineer shares the same philosophy as our mother. That is, life is short, and live life to the fullest. I have a lot of clients who drive more expensive cars than my corvette. They drive expensive cars like Mercedes Benz but when they see my Corvette, they are so jealous because their wives never let them buy one. Their wifes start nagging about it being a two seater and having no room for the kids. I say if you are single, buy the vette before you get married so the old lady knows its part of the family.

    This ZR1 is a one of a kind car. I say if you have the money, buy it.

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