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Old 09-04-2013, 06:11 AM   #5

PalmerGA's Avatar
Drives: 2013 SIM 1SS/RS L99
Join Date: May 2012
Location: Southwest GA
Posts: 8,693
As someone who was "upside down" on car payments for most of the 90s, all I can advise is DON'T DO IT, especially if your budget is tight. I bought 3 vehicles in a 8 or 9 year span and got more upside down on each one. I finally saved enough cash over several years to where I could finance a new vehicle and get "rightside up" on a new '02 Dodge Ram. Since then I have saved like a maniac and managed to pay CASH for my last 3 vehicles - all brand new.

You said "I can afford it, but it will make things a little tighter for us, for sure". So there are others (loved ones, I assume) you should be concerned about which makes it an even less intelligent thing to do.

Save your money. Pay off that current loan more quickly by adding something to the principal each month (no matter how little). It may take a few years but you'll be glad you did - and there will be plenty of beautiful like-new Camaros out there when you can truly afford one.

Good luck!
2013 1SS/RS Coupe L99, Stainless Power Works LT Headers, SCT X4 Custom Tune from RDP, CAI Inc. Air Intake w/ Apex Scoop, VMAX CNC Ported Throttle Body, Solo Axle-Back Exhaust w/ J-pipes, Apex Catch Can, Husky Splash Guards, Heritage Grille, 3D Carbon Rear Spoiler, Oracle Chrome Turn Signal Bulbs, GM Reverse Light Trim Billets, Gorilla Black Locking Lugs, Emblem Pros Retro SS Badges/Custom Retro SS Kickplates/Under-hood Bowtie, 35% window Tint
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