Man Asks Financial Guru "Can I Afford a 2009 Corvette ZR1?"

From the Suze Orman show that aired on CNBC on August 3, 2008.

[@bryanchin739]

He probably bought it anyway, LOL

[@SeattleGuy1968]

Suze has always been great entertainment lol

[@the-chillian]

He said he makes $6,000/month. That's $72k/year. How the HELL did he end up owning his house outright with $150k in regular savings but only $90k for retirement? I'm guessing he was looking for permission to blow an inheritance. No one who needs to ask this question is smart enough about money to get that far on his own with that income.

[@hellario2]

You know, in many parts of the country you can buy a home sub 200k and if you prioritize paying off mortgage like getting 15 year fixed, you can pay it off reasonably quick if you don't put much in retirement. Could be inherited too, of course

[@nanathegoat5106]

Ouch

[@sharpshooter012345]

I used to watch this show with my sister, god rest her soul.

[@Crazykye321]

Just save money when you fucking can

[@mercedeswilkins5566]

4 years later I’ll still deny him

[@WhiteKitta]

lol..... I love this show......I knew right away this guy was going to be denied with only $90.000.-in retirement savings at age 45!!! .....WTH was he thinking!?

[@Champcelticsnumber9]

Just because you can doesn't mean you should!

[@blacktruck5000]

You can buy a used Vette for under 50,000 and still look like a baller

[@xxmortimerxx]

That dude does not have enough money to responsibly buy a Corvette ZR1. But whatever, America is a country where most people are in debt and they don't think there's anything wrong with that. The smart thing for that dude to do is to wait a year or two and buy that damn thing used for 30K less than what its worth new. And for goodness sakes he's 45 and only has 90K in retirement?? Put more money in there...bro. LOL this guy is crazy or just stupid. BTW, I just went on Cars.com a 2010 Corvette ZR1 goes for 75k at 4500 mi on the odometer right now. Wooo that dude got HOSED probably left the lot closer to $150,000. I'd rather drop $110,000 on a fully restored 1963 Split Window Stingray.

[@Capncomeback2023]

Asking someone who thinks in $DOLLAR$ about buying your dream anything, but especially a car, is a huge waste of time. Almost every car I have owned, I loved. If I didn’t, I worked on it until I did. I’m saving up for my Vette now but it ain’t even 1/3 of that car’s price. But I hope he bought it. Money is paper. If you feed and house your family, have life insurance and love them, then you DESERVE that car, Bro!

[@Cdogbillionaire]

Suze Orman is very wise.

[@mercedeswilkins9085]

Yes, she is. She's not a millionaire for no reason.

[@momof2momof2]

What ever made this man think it was a smart thing to do ?????

[@GTStuning-]

or he can wait a year and pay $80k lol

[@timmy23apsb]

you should always make more than the price of your car in a year

[@balajiraja]

@JeremiahMarksMD Ya,but even those people would think twice before buying a 120K car

[@MusicLuvah23]

I'd like a college student to ask if they can afford textbooks and see what she's says. Ain't no college student have 8 months of an emergency fund in their savings. I sure don't.

[@hellario2]

I did, but that's because I bothered to serve in the military, get GI Bill,a scholarship, financial aid, and went to night school and community college for the first two years. Bought myself a BMW and a condo as a graduation/new career present. Know the resources available to you and have a plan.

[@AkronPorBarack]

She's my choice for Secretary of the Treasury.

[@casimoran]

Suze's Freakin' amazing!

[@Bacheegs4U]

she actually has a part at the end where she follows up on some people she talked to

[@RETIREMESOON]

I'm a financial person that has to ask ...is he on drugs ??? WTF is he thinking ? Try a Hyundia Accent and that's about it. We are heading into THE GREATEST DEPRESSIOn that will make the 1930's look easy and he wants a car woth 120 K ?

[@cnauta70]

Yes she is correct that this vehicle will continue to go down in value for the first 20 years. 20 years from now this car will be worth about $25,000. Then it will go up in value again, but by the time its worth over $ 120k again it will be another 15 years. This guy will be 80 by then! And 120k when he is 80 years old will be like 50k now. He should worry about his retirment more. 15 years to retirement and only 90k in retirement money!! I am 38 and have over 300k in retirement money already !

[@sliv812]

LMAO! I love Suze, and love it when she denies people! More people need to think like Suze when it comes to money. People that try to live beyond their means are stupid. If you can't afford it, don't buy it. You want to afford it? Find a way to make enough money first.

[@aas8]

Unless your some executive or stock market millionaire, driving a $120k car is pointless. You can get cheaper used ones for maybe $60-$75k. And this is the reason alot of Americans are in debt- they buy things they cant afford. He only makes $6k a year and has $150k in savings...maybe try the BMW for $35k first, use the savings to invest and then at 60 maybe try the $120k car again when the man might have doubled his money and is older...shesh!

[@JesseS420]

@aas8 only 6000 a year huh? you mean month? I hope so. He makes 72,000 a year.

[@MPG350]

I love sports cars but he really has no biz buying a zr1, he could get a nice used z06 for 30-40k thats my advice.

[@Dakid015]

I'll bet my house this guy went ahead and bought it...I wonder how many "denied" people on her show go against her advice.

[@woah455]

I don't understand what the big deal is. He clearly can't afford it.

[@v.m.4453]

Can you say mid-life crisis

[@Fuchi450]

@aas8 Correction, $6K/ month, that comes out to $72K a year. I'd say if he's gonna own it until he can't drive anymore (which is usually for around 68 or 69 for alot of people) then do it. He will sell it for a lot more if he can keep it in good condition.

[@burritomaker69]

well actually they plan to make 2000 a year so over its total production time it will far surpass the number of cars for the car to really appreciate in value but only to slooooowly depreciate over many many years.

[@istvanpraha]

I would be scared if I was in this guys position. First of all, who keeps so much in cash? Second, its obvious he doesn't have enough for retirement. Doesn't this guy worry about his own future?

[@BryBurger]

ALL new cars except rare Exotic editions are a bad investment. I am sure the guy is not retired and will place a big down. No way he is gonna blow his retirement savings on it. Awesome car!!!!

[@lilblackfish2009]

he should just get a preused one thats been well took care off,

[@MondoBeno]

In all the houses where my family lived, we never ONCE had a burglary, break-in, car-theft, carjacking, etc. Why? We always had cheap cars. Burglars target people who have expensive cars. It tells the thief that there's money in the home.

[@lvega5606]

Interesting. That would explain why my friend had his cheap condo broken into. He always owns a new BMW or Mercedes.

[@alex369]

I got a friend thats my age 29. Lucky fucker made this 40 yr old female lawyer fall in love with him and she got him a brand new Zr-1 lol and they are not even married. He came by my house and let me drive it ahahahha. I don't blame him.

[@stevenkaing5005]

If there is a will there is a way to save money no matter how much you make.

[@dcx1287]

The average person cannot afford to retire...ever. If you had even $1 million in retirement, that is enough to fund a middle middle class lifestyle. You can expect to have a reasonably steady stream of $50,000 per year with $1 million in retirement. $2 million in retirement is enough to fund an upper middle class lifestyle (once retired). To fund an upper class lifestyle you need more like $5 million by retirement age.

[@FLYMotoX]

yea ok buddy....who knows what is going to happen to chevy in 10 years they are in bankruptcy as of right now.....it would be sweet to own the last one of a kind corvette....and after all it is a zr1

[@scottlacy01]

Think of it as a "semi-liquid asset".

[@brandonmachado4035]

He could always get the Corvette Stingray :D Those start at $54K

[@jakemiller444]

It's called FUN

[@RidX4Ricers]

I would have called her back the next day saying I bought it, I mean seriously he doesn't have a mortgage to worry about or any car payments to worry about and he has cash to buy it outright, he can get rid of one car, so him and his wife each have a daily driver and if he's single he can get rid of two cars, which should offset the insurance substantially, it'll be a weekend toy so gas is not a huge issue, I'd go for it, or he could always buy lightly used or get a Z06 instead.

[@nanathegoat5106]

Lol you want a weekend toy for 120k earning just 72k with 90k of retirement and 150k savings....no wonder a lot of people are broke. He doesn't have a mortgage now, but God forbid he gets in an accident, loses his job, isn't able to work for sometime or gets sick....he is gonna wish he saved that 120k. He does not have enough money. And ya you only live once, but you don't live for yourself....what about your family, wife, kids, parents....if anything happens to you what do you want to leave them? A fucking Corvette.

[@anonymous..-]

Funny, but her depreciation figure probably isn't accurate though. It's not a regular car...Possibly an instant collector.

[@THESocialJusticeWarrior]

he could get a used zo6 though... that's what i would do...

[@thincow12]

@aas8 why bother to buy such a car at age 60 when your old .

[@Samimiamiv1]

@Miister00 i looked up on ebay and theres an r45 with 53,000 miles for reserve price $40,000 so idk where u get 20

[@jrs89]

Insert "Dude just buy teh [x] and add [y] and [z] to it and it'll smoke duh ZR1!" comment

[@dcx1287]

no actually she's correct. by unwritten standards of the wealthy, it's well known that in order to afford a $100,000 car, you need to be at least a dollar millionaire (not including your primary residence) and make roughly $200,000 per year or more. Alternatively, you can make roughly $500,000 per year or more and have a lower net worth in order to afford this car. But of course, making $500,000 / year will inevitably net you a net worth of $1 million really soon if you're just a bit frugal

[@1bojanbojan]

he should just get the C6Z

[@biruss]

he should buy a good quality 20 k car

[@natureloverdude]

@ajarofgelly its understood, there is no need to get excited.

[@jonitalia6748]

He earns approximately $120,000 per year gross - LOL - he wants a car that costs the same.

[@timmy23apsb]

@balajiraja r u kidding? oprah wouldn't even bat an eyelid

[@jrs89]

Dealer mark up and 3zr package will cost you 120k easy.

[@worldmagnifier6254]

She makes me laugh

[@calinator51]

Just get a C5 and put a blower in it... No warranty though >_>

[@jjguy23]

lol. I love this woman.

[@wkavre]

lol @ all these broke sports car fans in the comments getting mad she denied him.

[@timeisthekiller]

This is a man who just wants a drink from Mcdonalds every month

[@Miister00]

why not a used nissan skyline for around 20k. TUNE IT. you're far more happy with that than a fcking corvette.

[@k9feces]

makes sense, he would save on repairs.

[@4everyoung869]

He should do monthly notes invest the rest in reale estate ãn bonds but not cash it out n be damn near broke

[@Wsbankruptcyattorneys]

Love you...mean it

[@MillennialMcGuyver]

At least he tried. LOL.

[@Pauly144]

The Suze Orman show is so much better compared to Dave Ramsey.

[@mike548]

She doesn't drive a 120k car cause she has a driver for her 500k maybach take her to work.

[@natureloverdude]

@KhidFresh she would probably say denied

[@nokia3591]

Fuck fuel efficient cars he should buy the Zr-1 or get an even better Ford GT for about the same price.

[@boostedvette]

just buy the car you only live once man. with what you have in savings you couldn't retire anyways.

[@rhodybimmers8094]

fairly used 2016 covette zrl cost 55k+ he can definitely afford a 2009. i'm 19 & getting a 2016 zr1 with the z07 package this year!!

[@MrMustangrick]

Delusional. No way.

[@jerrydoubleu]

Damn! I wanted a zr-1!!!!

[@jdbs2009]

"You're old at 45?!?!" You only live once baby. You're reaction time isn't as keen if you waited till you're 60. Right right? =P (Just some internet joking)

[@coopsnz1]

Your burden on the government ,if you bought a zr1 when you retire because you will be swimming in debt

[@jeeess9979]

My m2 could never beat a Vette !Close tho!

[@josephconnor2261]

The guy has the money.... What is the point saving that type of money and not doing anything with it...You can't take it with you when your dead...So get the car be happy and when your old and sick you can think back on those days. He can own it for a year sell it and get some of the money back....

[@guywhoflys1]

i say go for a grand sport or z06 maybe

[@nokia3591]

The Ford GT is better,you know you wanna admit it.

[@SwissMarksman]

@aas8 Mr.economic-man .. EVEN 60-70k is TO MUCH for an American.

[@jmahrky]

damn she's good! :)

[@footballmania132]

I know right? How does her advice really help? All she does is make a fool of people on tv. Not that this guy was the brightest crayon in the box.. but still.. I'd like to make her bank account mine though :D

[@goldenmanuever1176]

The only car this due should be buying is a Camry, used.

[@pamelaharper4455]

He're a way anyone can afford something like that... Don't pay income tax! No one has to. You have to file, but you don't have to pay. The IRS makes people think they do, but you really don't. Find a good tax lawyer and you can delay paying indefinately and they can't take away your house or anything else. People who pay income taxes are smucks!

[@DouglasBeCorvetteManic146]

Pamela Harper Careful... whenever you type IRS in on the internet it comes up on their search engine, I sure hope that is not your real name.

[@JayMarksMD]

The only way I'd fill comfortable driving a $120, 000 car, is if my last name was Gates, Trump or Winfrey.

[@Tony007corp]

Do you mean mid-life crisis?

[@Wallrnr722]

@aas8 6k a month*

[@Swaggaccino]

Plus its American so it's gonna break down within 2 years of him buying it lol, go for a GTR instead.

[@5388checho]

I'll be ok with my Kia forte koup. Nearly 100k less.. :P

[@allancastle7084]

I thought that vehicle was $80,000 not $120,000 shit

[@SwissMarksman]

America in a nutshell

[@Samimiamiv1]

@Miister00 there not legal and 20? bs there way more

[@mercedeswilkins9085]

Deny

[@balajiraja]

@3jra : LOL thats funny!

[@Miister00]

@Samimiamiv1 meh if you buy a new one than it's way more yeah

[@jackconant4446]

Well she wasn't very nice

[@ZachTheRantingGuy]

+Jack Conant The guy was an idiot. It seems like the producers of the Suze Orman Show picked the dumbest people for some reason or another. It's common sense. How could you afford that car $120,000 when you only got $150,000 in savings and only $90,000 in retirement. You can't afford it. Suze Orman was right. The guy was an idiot, thinking he could afford that kind of a car. LOL. Wow. The moral to the story is, save money if you can!

[@jackconant4446]

+Zachary Gafanhao why didn't he just get a new c5 for 14k instead of a newer one I'd never pay over 20k for a car

[@ZachTheRantingGuy]

Jack Conant Right. No need of wasting $120,000 on a car. It's like give me a break. Like I said earlier, the guy is an idiot.

[@SwissMarksman]

@@ZachTheRantingGuy What most people forgett is maintenance. Well, I know it isn't a premium German car but I wouldn't underestimate the prices. Especially the ZR1 needs "other" parts than your regular Corvette.

[@mickvk]

"I don't THINK SO!" Aw c'mon, half of his take home for 36 months and it's water under the bridge. I think he should do it!

[@footballmania132]

Hahahha ownedd!!

[@timmmmkay]

CASH BABY! I would so do it.

[@Frutella512]

mid-life crisis galore