I did the quick math for some local guys here a while back ...

Figure a $28-30k truck,
plus Insurance at 20 = $2k or more a year,
plus Gas = $30 a week minimum= $150 a month,
Plus tires = $1000 a year,
Plus Maintenance and mods = $1000 a year

So according to Carpoint

1000 down at 8% for 5 years = $590 a month

$590 a month Payment
$200 a month Insurance - Minimum
$150 a month Gas
$85 a month in tires
$85 a month in Maintenance and mods - Minimum

$1190 a month total

( Even if you finanace for 72 months or more the monthly cost is the same or higher cause you will be MORE upside down when it comes time to sell or trade.)

Now if at 19 or 25 or whatever you make $30 grand a year gross you only take home about $2100 a month.

That leaves $910 a month for Rent, health insurance, food, women, beer etc..... Or another way to put it you are spending Minimum 60% of your take home pay on your truck. Even at 40 grand a year salary that is 45+% of your take home.

What that means to me and some of the other old fogeys here is that most of the real young folks here that own lightnings are either NOT paying for it themselves and/or are not paying their living expenses themselves... The numbers just simply don't add up. I'm sure there are a few that are making a fortune and can afford it and others that have some special circumstances that make it doable.


Having said all this I would have loved to had a brand new anything before I was 30. But I'm also smart enough to know that brand new cars are not the right choice for young drivers especially brand new ( or almost new ) cars with 400 hp. There is a young local owner or 2 in DFW who we are concerned will end up being articles in the paper before too long if their not careful.

The ones that have some help with either payments or insurance or housing - I hope you show your appreciation for that help by being sensible behind the wheel.

[/soap box off]

 

I think you may have something there Doug. I'm 46 and the Lightning was only my 3rd new vehicle and I make decent money. I think priorities play a big role too. Maybe still living at home. I always wanted a new Boss 302 or a Boss 351 when I was younger. Not a chance I could get one. Anyway, times sure have changed.......
Ron

 

What about 2 new cars at the age of 19>??? Well actually I bought my Lightning when I was 18. Yes I still live at home, if I didn't I would have the toys I have now. BUT, I make all of my payments not my parents, you have a lot more pride in what you have when it is paid for by you. What my thinking was, is get what I want now at a young age and I will have it all paid off by the time I am good and ready to go out on my own, Once I sell(already sold just need to close) MY rental property next month my 2001 Lightning 2002 Seadoo RXDI and 2003 Suzuki Z-400 will all be paid off by ME. Not bad for a 19 yr old kid huh>??? -Mat-

 

Just turned 40 on the 15th. I'm dating a 26 year old red head bombshell who absolutely loves my truck. My truck is looking better every day and I'm trying to keep up.

Live is good! The sun is shining and my beer is cold.

No complaints. ( I don't even listen to them)

Cheers,

Dion

 

im 22
480 a mo truck payment
125 for full coverage insurance
150 a month for gas
400 a month for rent and utill
plus another 150 in misllanious payments
total = 1305 a month in bills
i am an electronics tech currently laid off and still manage to make all my payments and still have money left over?
and i donnt make a fourtune either
i dont drink and my truck in my girl
but my father tought me how to MANAGE my income so try not to assume to much

BTW i do realize that all of the older members have a lot more bills expecially thoes with kids i have low overhead and F.O.G
wich allows me to have such a nice car at such a young age

 

Just because im 21 and own a Lightning doesn't mean my mommy and daddy bought it for me. Believe it or not some 21 year olds have jobs

Feeling guilty?!!? No one said I was talking about you

 

I just turned 54 and my Silver '01 L makes me feel like 18 again !

I've had it since last June and it's got a whopping 5500 miles on the odometer. (About 1/2 of those have been @ WOT !!!)
Love cruisin' and crankin' up the ZZ Top !!

 

It doesn't matter who paid for my truck. I still enjoy and appreciate every bit of it. I take care of it as if I purchased it with my own money. If you've read my other threads, you can see how careful (and on the virge of paranoia) I am. I take every precaution in the world with my truck, both on the street and parking on a college campus.

I am just glad I was given the opportunity to own such a nice vehicle at my age. I would hate to have waited until my 30s or 40s like some of you. No offense of course.

It's respectable if you paid for your Lightning with your own money that you earned. But if someone gave you a Lightning out of love would you not accept?

 

 

Abso-frickin-lutley - You have the right attitude.

The point I was trying to make was to the few that are 14 and claim to be on thier own and paying for everything themselves...

Just be careful - If I was lucky enough top have one that young I wouldnt be here now..

Doug

 

The Lightning is a weapon which can cause mass destruction. It also commands respect.

If you don't it will bite you and chew you up.

Dion

 

Froto? Is that you?