Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums - Camaro5.com
 
JDP Motorsports
Go Back   Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums - Camaro5.com > General Camaro Forums > 5th Gen Camaro SS LS LT General Discussions

5th Gen Camaro SS LS LT General Discussions General 5th generation Camaro topics not covered by other subforums.

Reply
 
Thread Tools
Old 06-15-2013, 06:32 PM   #76
jd10013


 
Drives: 2012 camaro
Join Date: Feb 2012
Location: central VA
Posts: 2,789
Quote:
Originally Posted by Angrybird 12 View Post
Back during hurricane Katrina when most of the gulf refineries shut down the only gas you could get around here was 87 octane. Just remember in times of shortages premium will go up more and be harder to get.

yea, I remember how gas spiked (here at least) to $3 a gallon and everyone thought it was the end of the world. little did we know a few years later we would kill for $3 a gallon gas
jd10013 is offline   Reply With Quote
Old 06-15-2013, 07:11 PM   #77
lbls1

 
lbls1's Avatar
 
Drives: 2002 Camaro SS SOM; 2009 Malibu LT
Join Date: Dec 2010
Location: Queens, NY
Posts: 1,751
You can't blame the car for your financial bind. One has to do an analysis of his or her financial situation before heading into any large purchase, such as an automobile. You have to know firsthand if you can afford the car of your choice before buying it.
__________________
'02 CAMARO SS SOM; 5.7L LS1/FLS6B
'08 TBSS AWD Black Granite Metallic
'09 Malibu LT Dark Gray Metallic

'14 CAMARO ZL1 Blue Ray Metallic
lbls1 is offline   Reply With Quote
Old 06-15-2013, 08:37 PM   #78
beany323

 
beany323's Avatar
 
Drives: Camaro 2SS /RS/1LE
Join Date: Sep 2012
Location: Southern Cali.
Posts: 1,261
if the cost of gas is to much then dont do it. its like i told my kids, if you cant afford to smoke then dont.
__________________
"The fact the GT500 can barely beat a $37k car with 200 less horsepower speaks volumes. There are about a million mods you can do to a LS3 to make a Camaro do the 1/4 faster then a GT500." (Vroom.)

Updated w/ Willow Springs:
1. Nissan GTR Track Pack 1:19.6 2. Ducati 1198 S 1:19.7 3. Nissan GTR 1:20.3 4. Corvette Z06 1:20.4
5. Audi R8 V10 Plus 1:22.0 6. Ferrari 458 Italia 1:22.3
7. CAMARO SS 1LE 1:22.7
8. Shelby GT 500 1:23.5
9. Mustang Gt Track Pack 1:25.8
beany323 is offline   Reply With Quote
Old 06-15-2013, 09:36 PM   #79
CyberPunk223
Account Suspended
 
Drives: 2012 LS Camaro
Join Date: Nov 2012
Location: Hagerstown, MD
Posts: 388
Quote:
Originally Posted by jd10013 View Post
spin it anyway you want, it's a pretty simple concept. if you rent for 30 years, at the end of those 30 yrs you own nothing. in fact, you've paid for someone else s property for them. if you buy, after those 30 years not only do you own an asset the historically triples in value, you've saved a ton of money as your mortgage stays fixed while rents go up every year. you also save thousands every year in taxes you don't have to pay (you cant deduct your rent). I bought my home 18 yrs ago. not only is my mortgage about half of what rents go for in my area, I cold sell it tomorrow, pay it off, and pocket about 150k. sound like a giant waste of money to me

again, if you don't get it, you don't get it. good luck in life man.
yeah, because you bought the house 18 years ago in a market with normal interest rates, now rates are at record lows which drives up housing prices creating a bubble. Also the government subsidizes the banking industry by allowing home mortgage deductions which they shouldn't be doing, If mortgage rates were normal like they were 18 years ago then your house wouldn't be worth anymore than the day you bought it. I'm not sure where you are getting this tripling in value BS, it's the same house it was 18 years ago so why is it worth more?, infact it's worse because it's older.

Just like all those idiots who thought they were rich in 2007

your ignoring the fact that you have put over $400,000 into the house during those 18 years and had to spend countless hours to maintain the property yourself, I can live in an apartment, not have to lift a finger the entire time and don't have to pay a cent in maintenance or upgrades or repairs, and only pay a fraction of the cost, not be house poor and do other things with the money. not to mention you can leave a rental anytime you want,you don't have to spend months to sale the place, pay a commission and closing costs. Most people should not be buying houses because they cant afford them, a lot of people learned that the hard way in 2008 when they were left with nothing but their eyes to cry with and are now renting which they should have been doing in the first place.

And don't forget, when you rent, your not hundreds of thousands of dollars in debt either.
CyberPunk223 is offline   Reply With Quote
Old 06-15-2013, 10:03 PM   #80
Angrybird 12
Retired, Cancer Survivor
 
Angrybird 12's Avatar
 
Drives: 12 CAMARO 1LT, 08 Vue, 14 Spark
Join Date: Dec 2007
Location: J. C. Tennessee
Posts: 17,773
Check this out, pros and cons of renting and buying.
http://www.ourfamilyplace.com/homebuyer/buyorrent.html
__________________
Cancer's a bitch! Enjoy life while you can! LIVE, LOVE, DRIVE...CAMARO!

Previous Camaros: 1974, 1979 and 2010.
Angrybird 12 is online now   Reply With Quote
Old 06-15-2013, 10:30 PM   #81
FY_Ivan
Black Mamba
 
FY_Ivan's Avatar
 
Drives: 2013 2LT RS
Join Date: Feb 2013
Location: Fairfax, VA
Posts: 187
I can't take anyone seriously that says renting is always better than buying. There are times when one is a financially better than others, but investment wise buying a house in a good location trumps all. There is some pride to be had in owning as well, along with credit benefits and steady monthly payments, as opposed to yearly rent increases.
__________________
2013 2LT RS "Black Mamba"

Heritage Grille | Gen5DIY Halo & DRL Harness | LEDs - DRLs, dome, trunk, license plate | ZL1 rear and RPI front splash guards | CAI Inc. Cold Air Intake
Elite Engineering Catch Can | Oracle Ghosted Sidemarkers | FR ZL1 style wheels | VMax Black Ported TB
FY_Ivan is offline   Reply With Quote
Old 06-15-2013, 10:36 PM   #82
FY_Ivan
Black Mamba
 
FY_Ivan's Avatar
 
Drives: 2013 2LT RS
Join Date: Feb 2013
Location: Fairfax, VA
Posts: 187
By the way, it's not a made up fact that houses increase in value over time. Houses are not cars, they don't depreciate. The land will always hold value, even if the house is torn down
__________________
2013 2LT RS "Black Mamba"

Heritage Grille | Gen5DIY Halo & DRL Harness | LEDs - DRLs, dome, trunk, license plate | ZL1 rear and RPI front splash guards | CAI Inc. Cold Air Intake
Elite Engineering Catch Can | Oracle Ghosted Sidemarkers | FR ZL1 style wheels | VMax Black Ported TB
FY_Ivan is offline   Reply With Quote
Old 06-15-2013, 10:44 PM   #83
Fiftydriver

 
Fiftydriver's Avatar
 
Drives: 2010 Camaro 2SSRS RJT L99
Join Date: Jun 2010
Location: Fort Shaw, Montana
Posts: 1,214
If fuel cost is your concern, get one of the new chevy cruze's. I have a 2011 that I got after buying my 2010 2SS camaro. At that time I was driving my Camaro in good weather and driving my 2004 GMC duramax in bad weather. Got sick of the fuel bill so went in and got a 2011 Cruze LT. Saved enough in fuel cost that I could make the mayments on the Cruze as well as keep the tank full and save $100 a month only driving the other two when I needed to or wanted to.

If fuel cost is a concern, you can not afford this car and you will put yourself in a pinch. Got to think before you leap. IF you can not afford 93 octane gas, how will you afford the insurance for such a car?
__________________
Fiftydriver

2010 SSRS, RJTC, L99, Maggie 2300 SC, 3.4" pulley, Roto-Fab CAI, Dynatech Supermaxx LT headers, Dynatech High Flow cats, Corsa Cat back exhaust, Dual Elite Engineering catch can, MSD wires and Jannetty custom tune, JRE custom diff w/ posi mod, 3.91 LPE gears, Pfaht trailing arms, Pfaht trailing arm and Diff bushings, drop springs and sport sway bars front and back, Fesler dual guage pillar pod w/ AM Cobalt Boost and A/F guages.

More to come!!
Fiftydriver is offline   Reply With Quote
Old 06-15-2013, 10:46 PM   #84
camaro_RS
Emerald Coast Camaros
 
camaro_RS's Avatar
 
Drives: A lot of show, not much go.
Join Date: Mar 2011
Location: Emerald Coast
Posts: 3,391
Purchasing a 2SS and foreseeing gas issues with 93 octane makes zero sense to me. That's just me, though.
__________________
-White Mary Jane....build thread [COTW 6/11/12] :

camaro_RS is offline   Reply With Quote
Old 06-15-2013, 11:26 PM   #85
Q'smuscle
life with muscle
 
Q'smuscle's Avatar
 
Drives: 2011 Camaro VR 2SS/RS & Impala
Join Date: Apr 2013
Location: Riverside,ca
Posts: 3,511
Get what you want. life is to short. Tomorrow isn't promise ,so live for the moment. Gas wouldn't stop a smile on my face.
__________________
Chevy's nothing Else matters
Q'smuscle is offline   Reply With Quote
Old 06-16-2013, 01:00 AM   #86
jashobbsie
Davenport Stage 5+
 
jashobbsie's Avatar
 
Drives: Camaro ZL1 & C7 Corvette 3LT Z51
Join Date: May 2012
Location: Alberta, Canada
Posts: 475
personally I wouldn't have bought my ZL1 if I though for a minute I'd be hard pressed to make the payments....this is the kind of car you buy knowing you can afford making the payments and putting gas in it....god knows it guzzles the gas. I sure do miss the $1000/mth in the winter months but coming summer its all worth it...but if I couldn't afford it...the car would be brought back to the dealer in a heartbeat... thats just me.
jashobbsie is offline   Reply With Quote
Old 06-16-2013, 01:06 AM   #87
TDevilsG
 
TDevilsG's Avatar
 
Drives: 2012 2SS Victory Red L99
Join Date: Jun 2011
Location: Rutherford NJ
Posts: 604
Need to be careful when deciding on the car you get, its a commitment of money both up front and for years on end. For me, this is the first car that I've really been taking care of purely out of my own money and its been a lesson on putting money aside per check to make sure I can afford it. But I simply could not imagine driving another car, its one of the best things I own and plan on keeping it for a long time.
TDevilsG is offline   Reply With Quote
Old 06-16-2013, 01:09 AM   #88
FJ60
 
Drives: '13 2SS RS 1LE ; '85 Landcruiser
Join Date: Mar 2013
Location: NorCal
Posts: 54
Quote:
Originally Posted by CyberPunk223 View Post
yeah, because you bought the house 18 years ago in a market with normal interest rates, now rates are at record lows which drives up housing prices creating a bubble. Also the government subsidizes the banking industry by allowing home mortgage deductions which they shouldn't be doing, If mortgage rates were normal like they were 18 years ago then your house wouldn't be worth anymore than the day you bought it. I'm not sure where you are getting this tripling in value BS, it's the same house it was 18 years ago so why is it worth more?, infact it's worse because it's older.

Just like all those idiots who thought they were rich in 2007

your ignoring the fact that you have put over $400,000 into the house during those 18 years and had to spend countless hours to maintain the property yourself, I can live in an apartment, not have to lift a finger the entire time and don't have to pay a cent in maintenance or upgrades or repairs, and only pay a fraction of the cost, not be house poor and do other things with the money. not to mention you can leave a rental anytime you want,you don't have to spend months to sale the place, pay a commission and closing costs. Most people should not be buying houses because they cant afford them, a lot of people learned that the hard way in 2008 when they were left with nothing but their eyes to cry with and are now renting which they should have been doing in the first place.

And don't forget, when you rent, your not hundreds of thousands of dollars in debt either.
Other than not buying a home you can't afford, every point you make against home ownership is wrong. I have financial regrets like not starting my TSA contributions and life insurance earlier, but purchasing a home is not one of them.

As far as the thread topic, I am thankful my father talked me out of purchasing a car I could barely afford right out of college. I ended up hating my first career after 2 years and it was nice being able to go back to school with no debt.
FJ60 is offline   Reply With Quote
Old 06-16-2013, 01:09 AM   #89
slick rick
SoCal Mayhem
 
slick rick's Avatar
 
Drives: 2010 Camaro 1SS/RS
Join Date: Aug 2008
Location: Foothill Ranch, CA
Posts: 5,464
Get an LS
__________________
slick rick is offline   Reply With Quote
Old 06-16-2013, 01:36 AM   #90
Michael2000
 
Drives: .
Join Date: Jan 2013
Location: Southern California
Posts: 246
Quote:
Originally Posted by Tony Stark View Post
Anyone on the forum who will admit that their choice in going up a level with a Camaro has effected them negatively financially and they regret it?

Example:
You could def afford LS but you bought 2LT and are hurting because of it?
Or you bought a 2SS when you could only def affored a 2LT etc.

My situation:
I can afford a 2SS putting more than 1/2 down on it. The only financial issues I could see is purchasing 93 prem gas.

Any opinions? or people willing to admit they regret the choice financially?
It's not the Premium gas required for the SS that is the major issue. It is the reduction in fuel economy with the V8 over the V6.

Here are some rough estimates.

SS: 15,000 miles per year/20 mpg * $4.20/gallon = $3150

LT: 15,000 miles per year/23 mpg * $4.00/gallon = $2608.

Savings: $542 per year.

You can plug in your own figures, but you get the idea.

You also have to consider, the higher the cost of the car, the more depreciation you'll have. Kelley Blue Book estimates, the Camaro will lose 43% of its value in three years. Again, using rough estimates:

SS: $35,000 * .43 = $15,050

LT: $25,000 * .43 = $10,750

Savings: $4300 / 3 Years = $1433 per year

Again, you can plug in more exact figures. Insurance and sales tax increase with car value, too, as well as, license fees in many states.

An LS would be even less. If you are looking to save money, but have a fun car that will turn heads and performs well, an LS is a bargain!

Michael
Michael2000 is offline   Reply With Quote
Old 06-16-2013, 06:29 AM   #91
jd10013


 
Drives: 2012 camaro
Join Date: Feb 2012
Location: central VA
Posts: 2,789
Quote:
Originally Posted by CyberPunk223 View Post
yeah, because you bought the house 18 years ago in a market with normal interest rates, now rates are at record lows which drives up housing prices creating a bubble. Also the government subsidizes the banking industry by allowing home mortgage deductions which they shouldn't be doing, If mortgage rates were normal like they were 18 years ago then your house wouldn't be worth anymore than the day you bought it. I'm not sure where you are getting this tripling in value BS, it's the same house it was 18 years ago so why is it worth more?, infact it's worse because it's older.

Just like all those idiots who thought they were rich in 2007

your ignoring the fact that you have put over $400,000 into the house during those 18 years and had to spend countless hours to maintain the property yourself, I can live in an apartment, not have to lift a finger the entire time and don't have to pay a cent in maintenance or upgrades or repairs, and only pay a fraction of the cost, not be house poor and do other things with the money. not to mention you can leave a rental anytime you want,you don't have to spend months to sale the place, pay a commission and closing costs. Most people should not be buying houses because they cant afford them, a lot of people learned that the hard way in 2008 when they were left with nothing but their eyes to cry with and are now renting which they should have been doing in the first place.

And don't forget, when you rent, your not hundreds of thousands of dollars in debt either.



at this point, it isn't even worth it. your just making up numbers that are so far from reality it's scary. again, have fun buying property for other people. I'm sure they appreciate it. I will enjoy the 150k I would have in my pocket if I sold tomorrow, and the 350k it will be worth when paid off. you enjoy you camaro (if it's still running 15 yrs from now), and paying rent till the day you die. I will definitely enjoy not having to pay anyone for a place to live in 12 years when I'm only 51 yrs old. I'll probably go buy a vett or something

and just so you know, I have not put anywhere near 400k into my home. I have no idea where you came up with that number, but your about 250k off. at most I've spent about 180k. which is probably less than 18 years of renting. you seem to forget, I locked in the payment in 1994. I'm paying 1994 prices. my mortgage doesn't go up every year like your rent.

Last edited by jd10013; 06-16-2013 at 09:24 AM.
jd10013 is offline   Reply With Quote
Old 06-16-2013, 12:25 PM   #92
Michael2000
 
Drives: .
Join Date: Jan 2013
Location: Southern California
Posts: 246
Quote:
Originally Posted by jd10013 View Post


at this point, it isn't even worth it. your just making up numbers that are so far from reality it's scary. again, have fun buying property for other people. I'm sure they appreciate it. I will enjoy the 150k I would have in my pocket if I sold tomorrow, and the 350k it will be worth when paid off. you enjoy you camaro (if it's still running 15 yrs from now), and paying rent till the day you die. I will definitely enjoy not having to pay anyone for a place to live in 12 years when I'm only 51 yrs old. I'll probably go buy a vett or something

and just so you know, I have not put anywhere near 400k into my home. I have no idea where you came up with that number, but your about 250k off. at most I've spent about 180k. which is probably less than 18 years of renting. you seem to forget, I locked in the payment in 1994. I'm paying 1994 prices. my mortgage doesn't go up every year like your rent.
You can't say owning or renting is better unless you know how the renter is investing his/her money. Residential real estate isn't the only investment out there. The guy who started GoPro didn't own. He lived in a basement while starting his business. In ten years, he was a billionaire.

Michael
Michael2000 is offline   Reply With Quote
Old 06-16-2013, 12:28 PM   #93
TooCool5
Resident Gearhead
 
TooCool5's Avatar
 
Drives: 2010 Camaro 1LS 3.6 LLT V6 325 HP
Join Date: May 2009
Location: Central CT
Posts: 3,578
My car is an LS, fits the bill of exactly what I wanted for 4 yrs now.
No regrets and enjoy this car every day.
__________________
2010 Camaro Auto, Inferno Orange, Titanium Interior, Gearhead Wheels AIRAID CAI
TooCool5 is offline   Reply With Quote
Old 06-16-2013, 12:29 PM   #94
jd10013


 
Drives: 2012 camaro
Join Date: Feb 2012
Location: central VA
Posts: 2,789
Quote:
Originally Posted by Michael2000 View Post
You can't say owning or renting is better unless you know how the renter is investing his/her money. Residential real estate isn't the only investment out there.

Michael

the point is, we're both spending about the same amount of money to live. the renter is just paying for someone else's home, while the buyer is paying for his own.

I'm not saying buying is for everyone, it certainly isn't. the idea that it was is what got us into the mess we're just now crawling out of. but it always makes more financial sense then renting, and contrary to what he was saying, is far from a "scam".
jd10013 is offline   Reply With Quote
Old 06-16-2013, 12:35 PM   #95
Michael2000
 
Drives: .
Join Date: Jan 2013
Location: Southern California
Posts: 246
Quote:
Originally Posted by jd10013 View Post
the point is, we're both spending about the same amount of money to live. the renter is just paying for someone else's home, while the buyer is paying for his own.

I'm not saying buying is for everyone, it certainly isn't. the idea that it was is what got us into the mess we're just now crawling out of. but it always makes more financial sense then renting, and contrary to what he was saying, is far from a "scam".
I didn't read the entire argument you two were making, but it doesn't always make more financial sense to own than rent. The renter can take his down payment money, and invest in something with a higher return.

Neither way is a scam. It's risk vs. return. The decision can also depend on market conditions, and tax rates.

Michael
Michael2000 is offline   Reply With Quote
Old 06-16-2013, 01:04 PM   #96
invaderzim
 
invaderzim's Avatar
 
Drives: 45th SS, '12 ducati 1199 on order
Join Date: Mar 2012
Location: DFW
Posts: 429
Quote:
Originally Posted by Michael2000 View Post
I didn't read the entire argument you two were making, but it doesn't always make more financial sense to own than rent. The renter can take his down payment money, and invest in something with a higher return.

Neither way is a scam. It's risk vs. return. The decision can also depend on market conditions, and tax rates.

Michael
Im sorry to disagree with this without reading the entire argument but I do so because when it comes to real estate it is never better to pay for someone else's property than it is to pay for your own. There is no way you can twist that into making sense. I understand the situation with some people doesn't allow them the freedom to buy, say bad credit or not enough, but you will always be able to buy a 2 bedroom home at better cost than renting a 2 bedroom apartment. And unlike renting where you "can just leave" as was said, you'd be leaving with nothing to show for it. A home you at least will have some invested equity. As for the "downpayment" that you can "invest" into other returns argument you're assuming a downpayment is required to purchase a home. It'll make things easier but there are ways around it. Ways to keep your money saved and be able to invest it in whatever you like. You just have to put some effort into finding the right home to buy at the right price. Effort well worth it IMHO. Like I said, I understand some people have different situations that don't allow them to be able to buy at the moment. Nothing wrong with that. But your statement that renting property can sometimes be better? A lot wrong with that.
invaderzim is offline   Reply With Quote
 
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 03:10 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.