Is there a cap on how much you can put down on a Camaro - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

yellowrs · 01-05-2013, 06:41 PM

when financing it from the dealership?
It seems they do not allow you to put more than 20%.

Angrybird 12 · 01-05-2013, 06:44 PM

Quote:

Originally Posted by yellowrs

when financing it from the dealership?
It seems they do not allow you to put more than 20%.

I have never heard of a maximum you can put down, only a minimum.

nyrfan · 01-05-2013, 06:46 PM

What? Never heard of that in my life.

Felix - Sent from my 2SS/RS

GlennP · 01-05-2013, 06:46 PM

I put down about 70% on mine with no problems

SSmokinSS · 01-05-2013, 06:48 PM

If they give you crap, put 100% down! (at another dealer)

oldfriend · 01-05-2013, 06:53 PM

Quote:

Originally Posted by yellowrs

when financing it from the dealership?
It seems they do not allow you to put more than 20%.

The bigger the loan the dealer presents to the bank , the bigger will be the kickback , $$$$ , that's what I wm talking about .
In another words , the bigger the loan , more money in interest one pays to the bank , the bigger the $$$ in kickback from the bank to the dealer , it's just money .

yellowrs · 01-05-2013, 06:53 PM

Quote:

Originally Posted by SSmokinSS

If they give you crap, put 100% down! (at another dealer)

I rather keep my money in the bank

Thanks for all the replies.

Ghost1LE · 01-05-2013, 06:54 PM

?? How could they cap your down payment, that's stupid and not correct.

I put 100% down so I don't think so...

Smart Line · 01-05-2013, 06:55 PM

Sounds like bull to me!!!!
they get a payback from the bank that us why they would say that!
I got a new car once they gave me 1/2 the pay back and I paid it off after 30 days
The dealership did not get the pay back untill the loan hit 30 days .

nyrfan · 01-05-2013, 06:57 PM

Quote:

Originally Posted by Smart Line

Sounds like bull to me!!!!
they get a payback from the bank that us why they would say that!
I got a new car once they gave me 1/2 the pay back and I paid it off after 30 days
The dealership did not get the pay back untill the loan hit 30 days .

Huh?

Felix - Sent from my 2SS/RS

Elykson · 01-05-2013, 07:00 PM

Finance with a bank or credit union, not through the dealer.

oldfriend · 01-05-2013, 07:02 PM

Quote:

Originally Posted by yellowrs

I rather keep my money in the bank

Thanks for all the replies.

Well , you may have a good reason for that , but if you can get a loan for less than what you may get from ,let's say a CD ~~.125( 1/8 ) % for 48/60 go ahead with that .
But if it's like above 3% I don't know , and of course there are others issues that only you know , so ,good luck with your new toy .

jpwickl · 01-05-2013, 07:04 PM

I put 100% when I bought my Camaro a month ago. Most dealerships make their money on used cars as compared to new anyway. (i could be wrong)

RollaMo · 01-05-2013, 07:15 PM

Quote:

Originally Posted by yellowrs

when financing it from the dealership?

Quote:

Originally Posted by Elykson

Finance with a bank or credit union, not through the dealer.

Dealers don't finance automobiles.

They might help arrange financing for you through one of their partner financial institutions though.
And in doing so, they very well could make $$ on the deal.
The more you finance, the more the lender might pay the dealer.

You can avoid all of that by paying cash.
Since that isn't an option for most buyers, the next best thing is to have your financing "pre-approved" by your own bank or credit union.
Now all you have to negotiate with the dealer, is the selling price of the vehicle.

01-05-2013, 06:41 PM	#1
yellowrs Account Suspended Drives: 2010 SS 426 V8 M/T Join Date: Aug 2012 Location: Scottsdale AZ Posts: 1,376	Is there a cap on how much you can put down on a Camaro when financing it from the dealership? It seems they do not allow you to put more than 20%.

01-05-2013, 06:46 PM	#3
nyrfan Let's go Rangers! Drives: 13' AGM 2SS/RS L99 Join Date: Jun 2011 Location: Orlando, FL Posts: 10,742 View My Garage	What? Never heard of that in my life. Felix - Sent from my 2SS/RS __________________ Soprano 4/1/00-6/14/11, Gone but NEVER forgotten! FSP tuned: 377/389

01-05-2013, 06:46 PM	#4
GlennP Drives: 2011 Camaro 2SS Join Date: Oct 2011 Location: Bridgewater, NJ Posts: 373	I put down about 70% on mine with no problems __________________

01-05-2013, 06:48 PM	#5
SSmokinSS Get Some Drives: 2014 ZL1 6Speed Join Date: Mar 2012 Location: The Wood's Edge, NM Posts: 712	If they give you crap, put 100% down! (at another dealer) __________________ BUILD THREAD

01-05-2013, 06:54 PM	#8
Ghost1LE Drives: 2013 AGM 2SS/RS 1LE Join Date: Apr 2010 Location: Gainesville, FL Posts: 924	?? How could they cap your down payment, that's stupid and not correct. I put 100% down so I don't think so... __________________

01-05-2013, 06:55 PM	#9
Smart Line Drives: 2011 Blue1SSRS 623RWHP, 02 vette Join Date: Aug 2010 Location: Richmond VA Posts: 1,308	Sounds like bull to me!!!! they get a payback from the bank that us why they would say that! I got a new car once they gave me 1/2 the pay back and I paid it off after 30 days The dealership did not get the pay back untill the loan hit 30 days . __________________ 2002 Vette (stock) *Team LS-3*

01-05-2013, 07:00 PM	#11
Elykson Custom One Off Drives: 2010 Chicago Blackhawks Edition #1 Join Date: Oct 2010 Location: Madhouse on Madison Posts: 1,190	Finance with a bank or credit union, not through the dealer. __________________ Vararam Intake/SLP Loud Mouth II/BBK LT HFC/Magnaflow x-pipe/Pfadt Springs/Black Ice-olator/FE3 suspension/VMAX TB/RX catch can/Trifecta Tune http://www.camaro5.com/forums/showthread.php?t=129416

01-05-2013, 07:04 PM	#13
jpwickl Drives: 2013 2LT Convertible Join Date: Dec 2012 Location: Florida Posts: 165	Yeah, i agree I put 100% when I bought my Camaro a month ago. Most dealerships make their money on used cars as compared to new anyway. (i could be wrong)