Camaro Commercial!!!! - Page 3 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

*Mr. Wyndham* · 10-22-2007, 09:16 AM

There's no reason you should have to pay more than sticker the first year. None. I know they mark it up, and all - but...I enjoy fighting a dealer for a car. Some people absolutely hate it...I consider it a "sport"

stovt001 · 10-22-2007, 09:46 AM

Me too. I used to work at a dealership, so I know their perspective. They usually figure out my background pretty quick (or believe me if I told them in the first place) and don't give me many problems. I've even gotten a free extended warranty thrown in. My fiancee hates haggling, and thus loves brands like Scion and Saturn. I just say those systems are a way of making you pay MSRP and think you got the better end of the deal.

I know there will be dealers even at launch who don't mark up over MSRP, but they will be rather short on stock that first year. I project that if nothing drastic changes to my expected income/expenses in the next few years, I can afford to put at least half down and finance the rest for 3 years or less on a well-equipped V8 model by the time the 2012 model comes out in mid to late 2011. That's just waiting a year and a half, and in that time perhaps a new special edition will be released, supplies will improve a bit, and, God forbid, any minor bugs will be ironed out. Waiting will be hard, but very, very worth it.

*TAG UR IT* · 10-22-2007, 11:48 AM

For those that say, "just get the 3 or 4 year financing so you can pay more on your principle and not keep the high intrest companies in business, etc"....Not everyone has money growing off trees in their back yards. For some people, the only way they can get the car that they need now is to extend their car payments to 7 years. And...when you get a loan at 4%, the interest doesn't kill you. You just make one extra car payment per year divied amongst the 12 payments for the year. It gets you where you need to be on monthly payments, helps you in case you can't make the full payment, and yes...it does take a long time to pay off. But, just make sure you get the financing % even lower since you are making more payments. It still works out.

Pencil.Fight · 10-22-2007, 01:04 PM

First of all, everyone needs to stop freaking out about the Transformers contest "Base Price". Scott Settlemire himself has told us that the base price of the Camaro will not be $40,000. If you really read the contest rules, it doesn't even say that it will. Price has yet to be decided, but rest assured that it will be comparable to the Mustang.

Secondly, I disagree with the concept that if you can't afford a 3 year loan, you can't afford the car. I bought my '07 Corolla with no down payment whatsoever on a 6 year loan. The interest rate is 7.5%, but if I pay no extra payments over the course of 6 years, I'm still only paying $1,800 in interest. That's really not that much, not enough to make me change my mind on the car at least.

stovt001 · 10-22-2007, 05:35 PM

Just to qualify, I'm a finance/economics major, and used to work at an auto-dealership. Really, the interest on the longer loans often is worse than it appears at first. There are a number of ways loan terms can be written to hide how much you're really paying. Heck that's why the dealerships' finance guys make soooo much money. (At my dealership the good ones were pulling in 6 figures. High five figures isn't too uncommon.) They make money because people need their dream car NOW, and so they play around with monthly payments, phrase the loan terms so they look favorable, and dance all the way to the bank.

Credit card companies work the same way. They make no money off the people who pay off their full balance each time the bill comes in. They love people who only pay the minimum amount, or even any amount over the minimum but less than the full balance. They make tons of interest on the remainder, but again due to clever packaging, most people never realize this.

Pencil, with 7.5% interest for 6 years, I highly doubt you're really only going to end up paying $1800 in interest. Even if that is the case, you're adding 12% to the vehicle's cost that is not reflected in the resale or insurance value. Combined with initial depreciation on a new car, you'll be upside down on that loan for a long, long time. After little more than a year of owning my car, and a faster than average depreciating one at that, I've just about turned it right-side up. Meaning if I suddenly have to sell it, or it gets totaled, I don't really take a financial hit. If you're upside down and the car is totaled, you still have to pay on it, so you have no car but you're still making payments. OUCH.

And if you can't afford a car without 7 year financing, you don't need a car that expensive. Need and want are very different things.

Anyway, I'm not trying to put anyone down or trying to crush anyone's dreams. All I know is that the middle and lower class, even the ones that make a lot of money, are really hurting financially because they do not know how to manage debt. You may make a lot of money, but if you don't know how to manage it, you might as well be working at McDonalds. It hurts me to know so many people stressing themselves to death wondering how they're going to make it from day to day when their debt and creditors stalk their every step. So really, this is heartfelt advice on how I think you can not only enjoy your Camaro to the fullest, but also enjoy life itself to the fullest. Financial freedom is a sweet, sweet thing.

Cheers, and warmest regards.

Jak · 10-22-2007, 06:51 PM

Right, that's what I'm saying. I didn't get out of school a poof have my new car, I had to work long an hard to get my first used cars without any help from my parents before I moved up to getting my new ones along with a job that pays well enough to afford them.

EllwynX · 10-22-2007, 08:32 PM

Quote:

Originally Posted by stovt001

Hence why the middle class is drowning in debt. I'm not getting my Camaro until I can put at least 50% down and finance the rest in 3 years or less.

I wouldn't consider adding a couple years to a car loan 'drowning in debt'.

I have a mortgage, car payment, credit cards (that, yes I should just pay off as fast as possible I'll agree) and still have xtra money to live. And my bills aren't behind...

I'm willing to agree with your later statement that if you can't afford a car on a 6/7 year loan, you should either look for a cheaper vehicle or keep what you have...

*Mr. Wyndham* · 10-23-2007, 08:02 AM

The problem is, just like some have said, that sometimes, people just don't realize how much they're really gonna be paying with a 6-7 year loan. it's not to say they can't. And that's NOT to say that they shouldn't. However much you end up paying in the end, I don't believe is a fair scale as to judge whether you should/can buy a car.

I for one, just bought an '07 Cobalt. (

I know, I know...) I'm able, however (after some serious haggling), to pay off this little bugger in one large cash payment. (

) When I get the 'maro, I now know, that 3 years, just probably won't cut it. I'll have to extend to a 4 or 5 year plan. So shoot me, I WILL have this car.

I agree that people need to learn how to manage money much better (i.e. housing crisis: variable rates are a BAD thing, people...

) But I also agree with EllwynX, an extra year or 3 of car payments isn't "drowning in debt", it's a different way to afford a car you need. And yes, people go overboard, buying cadillacs, when they should be buying saturns....but that judgment(caddy or Saturn) can't be reflected in how many years you pay for your car.

Another example, my parents have 4 kids, and it was not possible to buy a minivan (which is the only vehicle that would carry all of us at the time) with even a 3 year deal. So they're paying it off, and finishing this year, in fact, through a 6 yr loan...Are we drowning in debt? Should they have bought a sedan and put me in the trunk, instead, because that's what they could have afforded via a 3 year loan? No, and No.

I guess, beneath the long winded story above, my point is that: Yes, in a perfect world, one in which everybody is without car payments, lump sum cash payments, and 3 year loans are great...but it's not realistic. Some people need cars that they couldn't afford through a 3 year loan...

And now, in light of this little side-track...lets get to talking about the Camaro commercial.

GM seems to be blitzing on advertising, with the new Malibu. They took over a crapload of internet advertising for a day. There are multiple commercials out, and i pass no less than 4 billboards for the Malibu when I go to work and back...

So you think they'll do this (or at least some of it) with the Camaro?

stovt001 · 10-23-2007, 11:05 AM

All they need to do to advertise: Show the Camaro (the picture in Dragoneye's signature would do just fine) and beneath it write "Camaro: No Tag Line Necessary." The Malibu needs all the attention it can get just to get people to look away from the Camrys and Accords by default. The Camaro fights no such uphill battle, in my opinion. The Malibu has gone through years of having its name attached to a less than desirable car that most people experienced as a rental. The Camaro name has never been attached to such a car.

So really, I don't predict the Camaro will get an advertising blitz on the scale that the Malibu did, but I could be wrong.

10-22-2007, 09:16 AM	#29
Mr. Wyndham I used to be Dragoneye... Drives: 2018 ZL1 1LE Join Date: Jan 2007 Location: Buffalo, NY Posts: 31,876 View My Garage	There's no reason you should have to pay more than sticker the first year. None. I know they mark it up, and all - but...I enjoy fighting a dealer for a car. Some people absolutely hate it...I consider it a "sport" __________________ *"Keep the faith."* - Fbodfather

10-23-2007, 08:02 AM	#36
Mr. Wyndham I used to be Dragoneye... Drives: 2018 ZL1 1LE Join Date: Jan 2007 Location: Buffalo, NY Posts: 31,876 View My Garage	The problem is, just like some have said, that sometimes, people just don't realize how much they're really gonna be paying with a 6-7 year loan. it's not to say they can't. And that's NOT to say that they shouldn't. However much you end up paying in the end, I don't believe is a fair scale as to judge whether you should/can buy a car. I for one, just bought an '07 Cobalt. ( I know, I know...) I'm able, however (after some serious haggling), to pay off this little bugger in one large cash payment. () When I get the 'maro, I now know, that 3 years, just probably won't cut it. I'll have to extend to a 4 or 5 year plan. So shoot me, I WILL have this car. I agree that people need to learn how to manage money much better (i.e. housing crisis: variable rates are a BAD thing, people...) But I also agree with EllwynX, an extra year or 3 of car payments isn't "drowning in debt", it's a different way to afford a car you need. And yes, people go overboard, buying cadillacs, when they should be buying saturns....but that judgment(caddy or Saturn) can't be reflected in how many years you pay for your car. Another example, my parents have 4 kids, and it was not possible to buy a minivan (which is the only vehicle that would carry all of us at the time) with even a 3 year deal. So they're paying it off, and finishing this year, in fact, through a 6 yr loan...Are we drowning in debt? Should they have bought a sedan and put me in the trunk, instead, because that's what they could have afforded via a 3 year loan? No, and No. I guess, beneath the long winded story above, my point is that: Yes, in a perfect world, one in which everybody is without car payments, lump sum cash payments, and 3 year loans are great...but it's not realistic. Some people need cars that they couldn't afford through a 3 year loan... And now, in light of this little side-track...lets get to talking about the Camaro commercial. GM seems to be blitzing on advertising, with the new Malibu. They took over a crapload of internet advertising for a day. There are multiple commercials out, and i pass no less than 4 billboards for the Malibu when I go to work and back... So you think they'll do this (or at least some of it) with the Camaro? __________________ *"Keep the faith."* - Fbodfather

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10-22-2007, 09:46 AM	#30
stovt001 Drives: 2006 Cobalt, 2004 Taurus wagon Join Date: Oct 2007 Location: California Posts: 3,812	Me too. I used to work at a dealership, so I know their perspective. They usually figure out my background pretty quick (or believe me if I told them in the first place) and don't give me many problems. I've even gotten a free extended warranty thrown in. My fiancee hates haggling, and thus loves brands like Scion and Saturn. I just say those systems are a way of making you pay MSRP and think you got the better end of the deal. I know there will be dealers even at launch who don't mark up over MSRP, but they will be rather short on stock that first year. I project that if nothing drastic changes to my expected income/expenses in the next few years, I can afford to put at least half down and finance the rest for 3 years or less on a well-equipped V8 model by the time the 2012 model comes out in mid to late 2011. That's just waiting a year and a half, and in that time perhaps a new special edition will be released, supplies will improve a bit, and, God forbid, any minor bugs will be ironed out. Waiting will be hard, but very, very worth it.

10-22-2007, 11:48 AM	#31
TAG UR IT www.Camaro5store.com Drives: 2014 ZL1 #705 Join Date: Jul 2006 Location: SA, Texas Posts: 26,558 View My Garage	For those that say, "just get the 3 or 4 year financing so you can pay more on your principle and not keep the high intrest companies in business, etc"....Not everyone has money growing off trees in their back yards. For some people, the only way they can get the car that they need now is to extend their car payments to 7 years. And...when you get a loan at 4%, the interest doesn't kill you. You just make one extra car payment per year divied amongst the 12 payments for the year. It gets you where you need to be on monthly payments, helps you in case you can't make the full payment, and yes...it does take a long time to pay off. But, just make sure you get the financing % even lower since you are making more payments. It still works out.

10-22-2007, 05:35 PM	#33
stovt001 Drives: 2006 Cobalt, 2004 Taurus wagon Join Date: Oct 2007 Location: California Posts: 3,812	Just to qualify, I'm a finance/economics major, and used to work at an auto-dealership. Really, the interest on the longer loans often is worse than it appears at first. There are a number of ways loan terms can be written to hide how much you're really paying. Heck that's why the dealerships' finance guys make soooo much money. (At my dealership the good ones were pulling in 6 figures. High five figures isn't too uncommon.) They make money because people need their dream car NOW, and so they play around with monthly payments, phrase the loan terms so they look favorable, and dance all the way to the bank. Credit card companies work the same way. They make no money off the people who pay off their full balance each time the bill comes in. They love people who only pay the minimum amount, or even any amount over the minimum but less than the full balance. They make tons of interest on the remainder, but again due to clever packaging, most people never realize this. Pencil, with 7.5% interest for 6 years, I highly doubt you're really only going to end up paying $1800 in interest. Even if that is the case, you're adding 12% to the vehicle's cost that is not reflected in the resale or insurance value. Combined with initial depreciation on a new car, you'll be upside down on that loan for a long, long time. After little more than a year of owning my car, and a faster than average depreciating one at that, I've just about turned it right-side up. Meaning if I suddenly have to sell it, or it gets totaled, I don't really take a financial hit. If you're upside down and the car is totaled, you still have to pay on it, so you have no car but you're still making payments. OUCH. And if you can't afford a car without 7 year financing, you don't need a car that expensive. Need and want are very different things. Anyway, I'm not trying to put anyone down or trying to crush anyone's dreams. All I know is that the middle and lower class, even the ones that make a lot of money, are really hurting financially because they do not know how to manage debt. You may make a lot of money, but if you don't know how to manage it, you might as well be working at McDonalds. It hurts me to know so many people stressing themselves to death wondering how they're going to make it from day to day when their debt and creditors stalk their every step. So really, this is heartfelt advice on how I think you can not only enjoy your Camaro to the fullest, but also enjoy life itself to the fullest. Financial freedom is a sweet, sweet thing. Cheers, and warmest regards.

10-22-2007, 06:51 PM	#34
Jak Drives: 03 Dodge Dakota Join Date: Jul 2007 Location: New York Posts: 627	Right, that's what I'm saying. I didn't get out of school a poof have my new car, I had to work long an hard to get my first used cars without any help from my parents before I moved up to getting my new ones along with a job that pays well enough to afford them.

10-23-2007, 11:05 AM	#37
stovt001 Drives: 2006 Cobalt, 2004 Taurus wagon Join Date: Oct 2007 Location: California Posts: 3,812	All they need to do to advertise: Show the Camaro (the picture in Dragoneye's signature would do just fine) and beneath it write "Camaro: No Tag Line Necessary." The Malibu needs all the attention it can get just to get people to look away from the Camrys and Accords by default. The Camaro fights no such uphill battle, in my opinion. The Malibu has gone through years of having its name attached to a less than desirable car that most people experienced as a rental. The Camaro name has never been attached to such a car. So really, I don't predict the Camaro will get an advertising blitz on the scale that the Malibu did, but I could be wrong.