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-   -   OK, I need Z/28 Therapy PLEASE HELP!!! (http://www.camaro5.com/forums/showthread.php?t=67851)

Fandango 02-26-2010 02:27 AM

OK, I need Z/28 Therapy PLEASE HELP!!!
 
:(OK.

I've been out of the picture for a while now. Most of the tenured members on here know me as a huge Z/28 honk. But I've been getting this horrible fever, an insatiable desire to own a Camaro. I don't think I can wait any longer. Sure, I not ready to buy a Z/28 now, but I may be by early 2012. I only say that because I have a feeling the Z is going run in the 50k's, I can easily trade in my RX-8 and get my SS with $2000 down and get at least $8000 or more for my RX-8. I only buy the best but I don't like too many bells and whistles so I'm eyeballing a Manual 2SS RS, no sunroof, no 22's, maybe some stripes. $37,000 new or about $31,000 used. However, I still intend to get a Z/28. I'm sure I'll be able to do this in a couple of years. But, I just can't wait any longer. I figure this much, I'm Finance guy so this is what I'm looking at:

First Case:

New 2SS/RS $37,000 -$2000, - $8000 in trade = Present Value of $27000

PV= $27,000
Interest= 7% APR or .5833 APY (car Loans really go by this monthly compound)
Future value= $0
Period = 60 months
Payment = $534.63

Second case:

USED 2SS/RS $31,000 -$2000, - $8000 in trade = Present Value of $21000

PV= $21,000
Interest= 7% APR or .5833 APY (car Loans really go by this monthly compound)
Future value= $0
Period = 60 months
Payment = $415.82

So, after 24 monthly payments if I buy the car by the end of the year will leave me in Dec of 2011 or Jan 2012, leaves me with a balance of $17000 on the NEW Camaro or about $13,000 on the USED. Do you think it will have enough equity to trade in for a Z/28? Or should I just wait for the Z/28 to come out? If I wait, I'll lose a lot of trade in value on the RX-8.

I really am killing myself over this. I have a fever, and only thing that can cure it is more Camaro.

What should I do?? Should I drop the whole Z/28 thing? Should I just go buy an SS and the Hell with the Z? Should I wait? Will my plan work? Does Charlie Daniels play a mean fiddle?

Help me! I need therapy from any one! Owners, prospective buyers, fellow Z/28 honks. Please guide me. I am at your whim.

:(

Crowley 02-26-2010 08:13 AM

If you really want the Z/28 I say wait, save, and get what you want!! If you get the SS now and then can't swing the Z/28 later because of it, you may regret it. If you save and either the Z/28 doesn't come out or something else happens, you can always get SS and then begin mods to make your own Z/28 :)

Crowley

TommyTSquared 02-26-2010 08:14 AM

If you buy the new, probably not. You might have a chance with the used. Sure, you'll still be able to trade either in for the Z, but will you have the equity/debt that they'll be looking for to get you a fair price on the Z? Plus, you're assuming this is when the car is coming out, could be later or sooner. If you wait, your cars value will depreciate even more so you wont get as much for it... BUT you could have a bigger chunk for a down payment. Personally if I were THAT much into the Z/28 I'd wait.

I'm not though, so I didn't. :)

MikeSVX 02-26-2010 10:06 AM

Yes, Charlie Daniels plays a mean fiddle.







Hope that helps.

TommyTSquared 02-26-2010 10:16 AM

Quote:

Originally Posted by MikeSVX (Post 1525177)
Yes, Charlie Daniels plays a mean fiddle.







Hope that helps.

That is such an amazing commercial, especially at the end when he picks up that bread stick :laugh:

The_Blur 02-26-2010 10:22 AM

Regardless of your trade, you will have lost a lot of money in the process. Along the way, you will have been driving a Camaro. Is a Camaro worth a massive loss of savings in between buying the first Camaro and buying another Camaro as soon as 2 years from now?

Another question I like to pose—is an emblem that says "Z28" worth thousands of dollars more than it would cost to build an aftermarket powertrain with similar power? Assuming that a Z28 does exist in the next couple of years, would it be worth buying for you? Is it really worth the wait when you could have the same power now? Of course, GM will design a crushing entry to the high-end pony car market, but does it fit your needs? You could do the same thing with an engine swap when your warranty expires, a superior aftermarket suspension, and a built drivetrain, all for less with stronger parts. How badly do you want a name, the Z28, on your car? How badly do you want to be fast? How much do you want to spend? Which of these is most imporant?

SSOOCH 02-26-2010 10:23 AM

Buy a SS, Supercharge it. Upgrade the suspension with some sways and drop springs.

Move on..life's too short.

Dave Coyle 02-26-2010 10:40 AM

OK, the way I see it, I know how you feel about having the need/want to get one now but you really want the Z-28 but, on your first case you said that your monthly payment would be around $535 and that is with $2000 down and your trade. Then you want to trade it in for the Z-28 in 2012 because this is the car you REALLY want. If I were you, and this is just my thought process, I would start banking the $535 each month in your savings along with the $2000 you already have and by this time in 2012 you would have around $14,800 saved for a down payment plus what ever you get for your trade at that time and you would be getting the car you REALLY want. I understand how you feel but I always have said, "If it is worth having, it's worth waiting for!" OR, if you really really want the car that bad, do like SSOOCH said and by the SS, do all the mods and have more than likely a faster car for about the same money. I too wanted the Z-28 but now that I have the SS I have no plans on getting the higher priced Z-28.

Domic 02-26-2010 11:00 AM

If the rx8 is paid for, I'd continue to save more cash, you can probably save faster than the car depreciates, then buy the z-28 when it comes out. If you have payments on the RX8, I would step up and buy the SS now, then revisit your options when the Z-28 comes out. Maybe you don't buy the z the very first second it's available.

Scrappy Doo 02-26-2010 11:02 AM

Quote:

Originally Posted by SSOOCH (Post 1525250)
Buy a SS, Supercharge it. Upgrade the suspension with some sways and drop springs.

Move on..life's too short.

THIS!


Why go Camaro less for 2 more years. IF the z/28 gets made, it will be out late 2011. which means delivery in early 2012. Why wait another 2 years not to have the car. You never know what the future holds and you only live once.

Black5thgen 02-26-2010 02:08 PM

Quote:

Originally Posted by SSOOCH (Post 1525250)
Buy a SS, Supercharge it. Upgrade the suspension with some sways and drop springs.

Move on..life's too short.

It still won't be a Z28. You can do heads and cam on a C6 and beat a Z06 but it will never be a Z06. The Z28 should be more than just an engine and suspension. I go with the used SS if you can swing it. I bought new, but I'm hoping to at least break even when I sell (get as much as I owe) in a few years.

ron10 02-26-2010 02:14 PM

life is short.buy now!

radz28 02-26-2010 02:26 PM

If it means that much, I'd try to wait. I could've pushed to get an SS last year, but I preferred to hold out until this (hopefully) comes out.

Save that $$$ for a down payment and some mods' :D

Fandango 02-26-2010 03:54 PM

I love the advice. I'm leaning torwards taking a chance on buy an SS but I do want the Z/28. But I love the only live once argument. If the Z gets made and its a hit, then there should be another year of it. But boy I am

Maybe someone can chime in from the big boys, what is the harm in putting out an MSRP a year before production? Why do it 3 months before? I'm going to wait until late 2010. Honestly, money is the biggest issue. My next car will be a Camaro come hell or high water. I don't care if I win the lottery then there won't be an issue I'll buy one for every day of the week.

I've been a sound planner for a long time. I've adjusted my lifestyle and attainted degrees so that there would never be an issue in my passion for cars. I deserve to buy the car but my lust for the badge kills me. I stare at a Camaro everytime I get my coffee at Dunkin Donuts. It's sick too.

To the Ice Blue SS/RS with Hockey Stripes at the corner of Cross Creek and Moriss Bridge in N. Tampa, I envy you, love you and hate you. But it's all good.

However, like I Black5thgen said, if I can break even I'm good and it's A Z/28!

Chip 02-27-2010 12:07 PM

Quote:

Originally Posted by Fandango (Post 1524585)

First Case:

New 2SS/RS $37,000 -$2000, - $8000 in trade = Present Value of $27000

PV= $27,000
Interest= 7% APR or .5833 APY (car Loans really go by this monthly compound)
Future value= $0
Period = 60 months
Payment = $534.63

Second case:

USED 2SS/RS $31,000 -$2000, - $8000 in trade = Present Value of $21000

PV= $21,000
Interest= 7% APR or .5833 APY (car Loans really go by this monthly compound)
Future value= $0
Period = 60 months
Payment = $415.82

So, after 24 monthly payments if I buy the car by the end of the year will leave me in Dec of 2011 or Jan 2012, leaves me with a balance of $17000 on the NEW Camaro or about $13,000 on the USED.:(

Wrong.

as a finance guy you should know, you first pay the intrest on the loan... then the principal. so for the first 24 months of a 60 month contract you have paid almost nothing but intrest and will still owe WAY more than 17 or 13, probably more like $25,000.

if a Z28 is what you desire, and you will not be happy unless you have one i would wait, make those $400 Camaro payments to a dedicated savings account once a month and in 24 months you have darn near $10,000 and a mazda as a down payment on your new Camaro!

Johnwayne 02-27-2010 01:00 PM

damn thats i high payment mine is $378 a month but i put down a huge ol' wad o' cash


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