Could I afford a Camaro? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

FutureBumbleBee · 07-08-2009, 08:54 PM

I'm kinda bummed because I'm still 26 and can't afford a new car. But here goes

I work a part time job and get around $800 a month, minimum. No other bills. I have an 83 Camaro which I could possibly sell for like $1500-2000.. A few grand saved up and maybe could get more money (especially if it takes a long time from now to actually buy the Camaro).

I don't know how taxes, tags, registration fees and all things like that work?

I basically want the cheapest model possible, an automatic LS in yellow

I don't need the black stripes or spoiler right away, can I get more Bumblebee accurate ones later from someone else? Are they really hard to install?

Vash · 07-08-2009, 09:00 PM

That's already about $400 a month payment you sure about that? Might want to buy used.

Ant · 07-08-2009, 09:02 PM

You could, but you'd be working mostly for your car like me.

Starting my new job, I will be making slightly more than you per month, and also have no other bills.

With the car I just sold, I will have a payment of around $319 per month. For me, making $850+ per month, having a Camaro and paying $319 per month is worth it imo.

What else am I gonna do with my money at my age. Might as well enjoy it while I can lol.

nards444 · 07-08-2009, 09:02 PM

nope dont even think it sorry

smoothoperator · 07-08-2009, 09:07 PM

Quote:

Originally Posted by FutureBumbleBee

I'm kinda bummed because I'm still 26 and can't afford a new car. But here goes

I work a part time job and get around $800 a month, minimum. No other bills. I have an 83 Camaro which I could possibly sell for like $1500-2000.. A few grand saved up and maybe could get more money (especially if it takes a long time from now to actually buy the Camaro).

I don't know how taxes, tags, registration fees and all things like that work?

I basically want the cheapest model possible, an automatic LS in yellow

I don't need the black stripes or spoiler right away, can I get more Bumblebee accurate ones later from someone else? Are they really hard to install?

How is your credit (FICO score)? Without a co-borrower (Cosigner) you will probably have trouble getting financed with just a part time job. Can you switch to full time at your current part time job? that would solve your problem right there.... I actually was recently laid off and get about $1600/month in unemployment but know I will have to find a full time job before my car comes in otherwise I won't get the financing.

RPO_Z28 · 07-08-2009, 09:11 PM

Suze Orman

FutureBumbleBee · 07-08-2009, 09:18 PM

Quote:

Originally Posted by smoothoperator

How is your credit (FICO score)? Without a co-borrower (Cosigner) you will probably have trouble getting financed with just a part time job. Can you switch to full time at your current part time job? that would solve your problem right there.... I actually was recently laid off and get about $1600/month in unemployment but know I will have to find a full time job before my car comes in otherwise I won't get the financing.

I could work 40 hours a week, but since I hate working that much, don't get fulltime benefits, and plan on going back to college, I'm not going to do it.
I do plan on having a different financial thing soon but it's a crapshoot whether it'll work or not.
I could get a cosigner

Oh, and not sure about my credit score but I know I have good credit. I have never bought anything over $1200 on credit though.

smoothoperator · 07-08-2009, 09:22 PM

Quote:

Originally Posted by FutureBumbleBee

I could work 40 hours a week, but since I hate working that much, don't get fulltime benefits, and plan on going back to college, I'm not going to do it.
I do plan on having a different financial thing soon but it's a crapshoot whether it'll work or not.
I could get a cosigner

Oh, and not sure about my credit score but I know I have good credit. I have never bought anything over $1200 on credit though.

I'm not exactly sure how lenders verify income but I think they just use your last 2 pay statements maybe you could work 40 hours for a couple weeks just before you get financed? lol might be worth a shot.

FutureBumbleBee · 07-08-2009, 09:28 PM

doubt it.. they've cut everyone's hours and they'd be pissed for me to ask

Mr_Draco · 07-08-2009, 09:29 PM

Quote:

Originally Posted by FutureBumbleBee

I'm kinda bummed because I'm still 26 and can't afford a new car. But here goes

I work a part time job and get around $800 a month, minimum. No other bills. I have an 83 Camaro which I could possibly sell for like $1500-2000.. A few grand saved up and maybe could get more money (especially if it takes a long time from now to actually buy the Camaro).

I don't know how taxes, tags, registration fees and all things like that work?

I basically want the cheapest model possible, an automatic LS in yellow

I don't need the black stripes or spoiler right away, can I get more Bumblebee accurate ones later from someone else? Are they really hard to install?

It's always been my belief that you either know you can afford something or you can't. If you have to ask if you can afford it, then you can't afford it and would end up losing the car in a few months.

Also if your asking this question then most likely you have no or very little credit. When getting financing for a car one of the things they look at is previous large loans that you had and paid back. I'm guessing you have had none. Imo the best decision for you right now is not to buy the car and wait until next year. This way you can save up more, work on your credit, and reduce your car payments. Right now you will be looking at almost $500 a month between car payments and insurance and only working part time making $800 a month, you will be hard pressed to get a decent rate not to mention doesn't leave much room for emergencies and any other expenses.

Mr_Draco · 07-08-2009, 09:33 PM

Quote:

Originally Posted by smoothoperator

I'm not exactly sure how lenders verify income but I think they just use your last 2 pay statements maybe you could work 40 hours for a couple weeks just before you get financed? lol might be worth a shot.

Every bank and financial institute I've done business with asked for last pay stub and last years W-2.

FutureBumbleBee · 07-08-2009, 09:35 PM

I've never had a W2..
shucks well I guess I just gotta deal with it. Maybe if I make $3000 a month they'll finance me, but if it's self-employed I wonder how that'd work.

NightmareSS · 07-08-2009, 09:42 PM

it all depends on what you plan on doing in the long run.....im in a similiar situation as u...i make about 1800 a month but im getting the 2ss/rs and i have other bills...ill be paying about a 1000 a month for the car and insurance and about 200 in other bills...so that leaves me with 600 a month to have in my pocket...i live it at home myself and dont plan on leaving for another few years...and by then ill be working for the city making double wut i make now...like ant said im young and i have nothing to spend my money on now and i wanna enjoy my younger age...i know i can save some money up for my future but i honestly dont care about that right now...i still got time

plus i work 4 days a week 10 hours a day...so i think imma try to work some overtime at my job or get a part time job couple days a week...on tuesdays when im off i lose my mind sitting home all day...love my weekends tho

so if you live at home and plan on staying there till the car is paid off or ull be making more money within the next couple years go for it...thats just my opinion, most people telling u not to have more life experience then me...alot of people told me i shouldnt get the 2ss cuz i cant afford it but i want it and ill work more if i need to...besides my mother wouldnt let me do this if she didnt think i could handle it...i mean she couldnt stop me if she didnt think i could...but she does...if u live with ur parents talk to them...no1 is gonna give u better advice then them, they know ur life and situation better then any1

Rockytophummer · 07-08-2009, 09:42 PM

Don't forget whiletaking out a loan you'll have to get full coverage insurance. But if you can afford it is such a sweet ride. I feel like a rock star driving this car. Everytime I go anywere I have all kinds of people talking to me saying how much they love this car. But don't get yourself in any type of financial hardship that if you lose your income you don't want to ruin your credit because even being sweet car your credit is important since it's your credit for your whole life. Even though your still young and don't think it will matter when you get ready to have a family you will need credit to buy a house and other needs. Also alot of jobs are doing credit checks Now adage to see how reliable a person is and wether to hire them.

07-08-2009, 08:54 PM	#1
FutureBumbleBee Drives: 83 Z28, white, slow and dying Join Date: Jul 2009 Location: California Posts: 135	Could I afford a Camaro? I'm kinda bummed because I'm still 26 and can't afford a new car. But here goes I work a part time job and get around $800 a month, minimum. No other bills. I have an 83 Camaro which I could possibly sell for like $1500-2000.. A few grand saved up and maybe could get more money (especially if it takes a long time from now to actually buy the Camaro). I don't know how taxes, tags, registration fees and all things like that work? I basically want the cheapest model possible, an automatic LS in yellow I don't need the black stripes or spoiler right away, can I get more Bumblebee accurate ones later from someone else? Are they really hard to install?

07-08-2009, 09:02 PM	#4
nards444 Drives: 1SS/RS Black Join Date: May 2009 Location: New york Posts: 2,123 View My Garage	nope dont even think it sorry __________________ 2010 1SS/RS Black, CGM stripes, polished Rims, Tinted windows, Hurst shifter

07-08-2009, 09:11 PM	#6
RPO_Z28 Drives: 2007 C6Z Join Date: Jan 2009 Location: RVC, New York Posts: 1,748	Suze Orman __________________

07-08-2009, 09:42 PM	#13
NightmareSS Drives: 2010 Camaro SS/RS 92 300zx 2001 Ram Join Date: Feb 2009 Location: Staten Island, NYC Posts: 1,388	it all depends on what you plan on doing in the long run.....im in a similiar situation as u...i make about 1800 a month but im getting the 2ss/rs and i have other bills...ill be paying about a 1000 a month for the car and insurance and about 200 in other bills...so that leaves me with 600 a month to have in my pocket...i live it at home myself and dont plan on leaving for another few years...and by then ill be working for the city making double wut i make now...like ant said im young and i have nothing to spend my money on now and i wanna enjoy my younger age...i know i can save some money up for my future but i honestly dont care about that right now...i still got time plus i work 4 days a week 10 hours a day...so i think imma try to work some overtime at my job or get a part time job couple days a week...on tuesdays when im off i lose my mind sitting home all day...love my weekends tho so if you live at home and plan on staying there till the car is paid off or ull be making more money within the next couple years go for it...thats just my opinion, most people telling u not to have more life experience then me...alot of people told me i shouldnt get the 2ss cuz i cant afford it but i want it and ill work more if i need to...besides my mother wouldnt let me do this if she didnt think i could handle it...i mean she couldnt stop me if she didnt think i could...but she does...if u live with ur parents talk to them...no1 is gonna give u better advice then them, they know ur life and situation better then any1 __________________

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07-08-2009, 09:00 PM	#2
Vash Drives: 00 Blazer Join Date: Aug 2008 Location: Texas Posts: 5,104	That's already about $400 a month payment you sure about that? Might want to buy used.

07-08-2009, 09:02 PM	#3
Ant Drives: 2017 Camaro 1LT/RS (V6) Join Date: Dec 2008 Location: Long Island, NY Posts: 911	You could, but you'd be working mostly for your car like me. Starting my new job, I will be making slightly more than you per month, and also have no other bills. With the car I just sold, I will have a payment of around $319 per month. For me, making $850+ per month, having a Camaro and paying $319 per month is worth it imo. What else am I gonna do with my money at my age. Might as well enjoy it while I can lol.

07-08-2009, 09:28 PM	#9
FutureBumbleBee Drives: 83 Z28, white, slow and dying Join Date: Jul 2009 Location: California Posts: 135	doubt it.. they've cut everyone's hours and they'd be pissed for me to ask

07-08-2009, 09:35 PM	#12
FutureBumbleBee Drives: 83 Z28, white, slow and dying Join Date: Jul 2009 Location: California Posts: 135	I've never had a W2.. shucks well I guess I just gotta deal with it. Maybe if I make $3000 a month they'll finance me, but if it's self-employed I wonder how that'd work.

07-08-2009, 09:42 PM	#14
Rockytophummer Drives: 2006 Hummer H2 2010 2SS Camaro Join Date: Jun 2009 Location: Maryville tn. Posts: 586	Don't forget whiletaking out a loan you'll have to get full coverage insurance. But if you can afford it is such a sweet ride. I feel like a rock star driving this car. Everytime I go anywere I have all kinds of people talking to me saying how much they love this car. But don't get yourself in any type of financial hardship that if you lose your income you don't want to ruin your credit because even being sweet car your credit is important since it's your credit for your whole life. Even though your still young and don't think it will matter when you get ready to have a family you will need credit to buy a house and other needs. Also alot of jobs are doing credit checks Now adage to see how reliable a person is and wether to hire them.