18-20 year olds, how did you afford your 03/04 cobra?

[Chemicals_5000]

Well, Im 22, and I own an 03 Lightning aswell as 02 EB Z06, 02 GSXR 750, 02 YZF R1.

My grandparents invested all the money I ever earned through highschool and a 100k inheritence from my father. Then my Grandfather used the money on stocks and quadrupeled the original amount and then some...Now I get roughly 4k a month from a 3.8 million acct. so I odnt go to crazy...Im aiming to burn out by the time im 30, dont really wanna live much past then

 

[bigdog93lx]

Can't be that difficult, i work during the summer for about 50-55 hrs a week and manage to save about 7-8 grand during the summer (3 months). But i dont have shit to pay for either livin with the parents, but give em 3 grand a year for school.

 

[ak_cobra]

i got my car when i was 19(just turned 20 now). work cutting concrete. live in my own apartment pay for all of my insurance, the car, c/c payment, food electricity, ect.... insurance for my winter car (own it outright) and the only help i had from the folks was a signature b/c of my age/lack of credit i couldn't do it alone.

 

[Spud04]

Originally posted by NODOZE

I would like to say one thing, some of you people need to live a little. At 14,15,16, 17,18 etc, you should be trying to get laid and figure out who is going to buy you beer this weekend, or many other different things, not thinking "how can I capitalize on my investments so I can buy a Cobra." Jeezus Sample life early, cause that window of opportunity fades quickly before you know it!!

Hey, I resent that. I still get laid and party everynight.

I hate this thread, I want my cobra even sooner now. I'm bad at saving. It's so easy to just go out and get a nice Camaro SS or something now.. hmm the clock in the head starts to tick. What to do, what to do!?

Cobra. Yea. That'll do.

 

[rust0r]

Re: How do they do it?

Originally posted by BenD
Many of the '03's that end of up in the hands of used car dealers are Repos.

I find it irritating myself to see some 20 year old driving one of these. But you got to remember their Insurance is out of sight. With carelessness and wrecklessness of youth most will either kill themselves or their Insurance will be cancelled in short order.

My State Farm Agent will not Insure anyone driving one of these cars unless they are over 30 with a flawless driving record, then one ticket doubles the Insurance.

Even if they are rich and on their parents Insurance one ticket or accident can launch their Insurance easily to $1000/mo. One individual that is in his 30's with 3 Speeding tickets was quoted $1400/mo. That made it iimpossible to buy the car and his Dad is a Ford dealer.

My insurance, believe it or not is $146 every 6 mos. Why? because my car is paid for on thing, no tickets or accidents for over 40 years. I primarily race it on the track and strip. That's what I bought it for. I seldom drive it on the street and when I do it's just to the speed shop for more mods. If I do test it out on the street it's out in the boon docks with no traffic, no houses, no cows, no horses and usually early on Sunday mornings.

But don't worry these young guys won't have them very long. When Insurance exceeds the payment...they're history. They'll either kill themselves or some one else, or both. It's happened twice in my City in the last 7 months.

this isnt a flame to anyone from the 'older' croud or anything...benD you seem to be pretty much against any young people owning nice/powerful cars, lets not forget how many older people end up causing accidents, i cant keep track of how many old people i see in a day that need to back in and out of a spot 100 times to get their car straight, ide rather there be a 20yr old with a cobra, than a 65 year old with an old v8 caddy

think before attacking a certain age group, becasue you also belong to one

 

[Farmer-Ted]

What strikes me as funny is almost anyone around the age of 20 (myself included when I was that age, and it wasen't that long ago!) thinks that because they drive a high performance car, they are a profesional, experienced driver. BS! Examples - I'm 19 and I know I can handle it... I dare anyone to try to beat me on a road course.... etc... etc... Makes me laugh.

 

[maoun]

i know....it's bullshit the skills little 20 yr olds think they have..

when will they realize that i'm the only 20yr old that's ACTUALLY incredible hehehe, j/k

 

[Blades]

Originally posted by NODOZE

I would like to say one thing, some of you people need to live a little. At 14,15,16, 17,18 etc, you should be trying to get laid and figure out who is going to buy you beer this weekend, or many other different things, not thinking "how can I capitalize on my investments so I can buy a Cobra." Jeezus Sample life early, cause that window of opportunity fades quickly before you know it!!

!!!!!Money isn't everything!!!!!


-Brian

I donno man.. I don't want to sound like a wanker but having tons of sex and getting drunk aren't really high goals in life.. Its just as dangerous, if not more, than having a high performance car.. No one really benefitted from drinking too much and ****ing too much..

I don't think that worrying about "how can I capitalize on my investments..." is a bad thing at all. Not to mention, the whole getting laid all the time thing usually is a bi-product of the nice car and lots of cash..

But thanks for lookin out. :coolman:

 

[Farmer-Ted]

Originally posted by maoun
i know....it's bullshit the skills little 20 yr olds think they have..

when will they realize that i'm the only 20yr old that's ACTUALLY incredible hehehe, j/k

OK, Maybe there's one of you out there!!

 

[maoun]

lol....my girlfriend tells me i'm one of a kind all the time....then she usually mumbles "thank god"....wonder why? hehehe

 

[03CobraRed]

Examples - I'm 19 and I know I can handle it... I dare anyone to try to beat me on a road course.... etc... etc... Makes me laugh.

The bondurant school of driving is good reasoning to start saying that.

 

[maoun]

i agree....chris cook (former chief of bondurant) is the man

 

[DaMuscleMan]

bondurant ... thats where i went for my drving course... my dad knows the guy got in for one hell of a good price.. awesoem school too

ty

 

[Whitten]

I am going to step out on a limb here and comment on the 18 year old should have a car of this nature. I am young in comparison to most of the owners of these cars, but I will have to say that by no means does that make me less capable of driving something of this nature. Agreed, that most kids at that age are cocky, brash, and a little showey, but I have to say that so are alot of older drivers of this car. In most cases age shows no limits as to who will lose control of a high performance car. I will say this though, at 20 years old I have more experiece driving high horsepower vehicles than most 30, 40 or 50 year olds. For that matter I have driven more radical muscle cars than than most people from that era. Each and everytime an opportunity has presented its' self to thrash some punk in a Civic or to wax a kid in a Cobra, but have passed up the oportunity as I felt it unwise to endanger my life with a stupid stunt on a public road or endanger the car from being wrecked. The age thing is really not an issue for me because of that reason, and becuase of the fact that older people have wrecks too.

 

[nimesis]

quote:
--------------------------------------------------------------------------------
Originally posted by BenD
Many of the '03's that end of up in the hands of used car dealers are Repos.

I find it irritating myself to see some 20 year old driving one of these. But you got to remember their Insurance is out of sight. With carelessness and wrecklessness of youth most will either kill themselves or their Insurance will be cancelled in short order.

My State Farm Agent will not Insure anyone driving one of these cars unless they are over 30 with a flawless driving record, then one ticket doubles the Insurance.

Even if they are rich and on their parents Insurance one ticket or accident can launch their Insurance easily to $1000/mo. One individual that is in his 30's with 3 Speeding tickets was quoted $1400/mo. That made it iimpossible to buy the car and his Dad is a Ford dealer.

My insurance, believe it or not is $146 every 6 mos. Why? because my car is paid for on thing, no tickets or accidents for over 40 years. I primarily race it on the track and strip. That's what I bought it for. I seldom drive it on the street and when I do it's just to the speed shop for more mods. If I do test it out on the street it's out in the boon docks with no traffic, no houses, no cows, no horses and usually early on Sunday mornings.

But don't worry these young guys won't have them very long. When Insurance exceeds the payment...they're history. They'll either kill themselves or some one else, or both. It's happened twice in my City in the last 7 months.
--------------------------------------------------------------------------------
Repo doesnt necessarily mean bad car, I bought mine used from the dealership I work at and its just as good as new-1200 miles (then).
And if it burns you that much to see me driving me car, dont look for all I care!
My insurance is extemely cheap because, cheaper than yours! ( does that sting?) I have an off brand(no state farm crap here) and I spent the first 4 years of my driving career in an '88 Mercury Tracer 2DR HB, so Im Clean.
And I will keep it for a long time because right now it is the only thig I have to drive.

 

[03RedCobra]

I tell you what, it took me FOREVER to read thru all these posts !! But, there is some good points on either side of the story.

Young guys (and gals) buying expensive cars with thier own money......well, excellent for you !! If you can do it COMPLETELY on your own, Bravo-Zulu !! (a NAVY term for you rich folks who think the poor of this country should be the only ones in the military, protecting your little darling selves)

It brings up a thought in my mind though........No wonder we in America pay SOOOOOO many darn taxes, we have to pay for College Education scholorships, G.I. Bills (scholorships for Ex-military), PELL Grants, Student Loan Disbursements, etc.....

The problem that I see with ALOT of the people on here, are that they live at home with Mom and Dad (not the actual problem), and they draw some of these scholorships, grants, etc...... that are paid for by the American public, and they are able to go out and by a Darn expensive car like the '03 Cobra !! I say, what the heck ?!? If you have saved up 25,000 dollars for College, then all of a sudden get all these scholorships and Grants, then the 25,000 dollars should in no way go to buying an insanely expensive car !! Indirectly, we are ALL paying for these folks car in a way !! My tax dollars go into these State schools funds, the G.I. bill funds, the PELL grant Funds, etc.... So, in a way, we ALL have a right to complain about a 20 year old that is driving the Cobra if they have some sort of College Aid, or help from their RICH parents (because we all know how the rich get some insanely ridiculous taxbreaks !!!)

Until I was 33 years old, the nicest car that I bought was a 3 year old Dodge Colt !! My first Car was a 1972 Pontiac Catalina that I was able to buy for 200 dollars from an elderly neighbor !! I tell you what though, that car was MUCH more fun than the Cobra !! It had a 400 cubic Inch, 4-barrel !! Man, you could smoke some tires on that bad boy !! And heck, you could even use the back seat (unlike the Cobra), and the the whole Senior class could practically fit back there !! Along with a few Kegs of beer for the next house party !! LOL

Well, anyways, just my 2 cents worth.

 

[Whitten]

I like you 03redcobra, your very down to earth and a make an excellent point that I had never thought about as far as the grants go.

 

[Brian97vobra]

Well i guess i'll reply to this as well. Seeing it took me so long to read through all these posts!
I joined the Navy right after high school and bought my cobra when i was 18. I'm 22 now and have transformed it into a 10 sec car and also own a 94 lightning for my daily driver/tow truck and an 04 R6. I was making awesome money in the Navy, about $3k a month!
I'm in college right now and living off student loans and the gi bill. I've been out of a job ever since i got out of the navy back in june. So yeah it sucks, i'm pretty strapped for cash. But i can't see myself working while going to school as well. But i just figure i'll have to end up paying back all these loans after i graduate anyway. And when that time comes around i'll be making A LOT of money!
Although i would love to buy an 03 cobra. But that would more than likely require selling everything else. Which i don't really want to do. And that would still require me to make the payments from the money i get from my student loans.

 

[Blades]

Originally posted by 03RedCobra
(because we all know how the rich get some insanely ridiculous taxbreaks !!!)

Yeah ****ing right.. And people on welfare just carry the rich on their backs don't they? Maybe it is just because I live in Mass, but that statement is just rediculous. :kaboom:

Oh and I guess we should all stop paying for grants so a good amount of America's youth cannot go to college.. The government has a very good reason for giving out grants, the obvious answer is so that people can AFFORD to go to college. Knowledge is power, and it will pay off. Sure some kids may **** up and drink their future away in college.

But for the small 1% that will do great things BECAUSE the government paid for their education.. don't you think its worth it?

 

[JParm93]

I don't have an 03' Cobra, but I did buy my 93' Cobra 6 years ago when I was 19 and the car had only 20,000 miles. I paid $16,000 for the car (which was in mint condition w/ the new car smell still in it) by myself and paid it off in 4 years while going to school. When I finally paid the car off, I had the means to buy a new Cobra. But then I decided to buy a house instead, what good is a car to impress the ladies when you have to take them home to your parents house. Don't get me wrong I am still trying to figure out how I can add another SVT to my garage. :beer: