I need you guys & gals opinion! First time car buyer here. - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

bumblebee123 · 07-22-2009, 02:11 PM

So I was at the verge of driving my car away from the dealer ship. I spoke to a gorgeous woman that handles the payment. (Forgot her job description) I left the dealership still thinking very hard if I should get it or not. The only thing that's stopping me is my family, (mom,dad,sis) will be buying a house next year. And if I get this Camaro, I'll be pretty useless on the monthly of the house. But I just need to get your opinion..

So guys. What do you think?

692$/mo for 72 months & that's w/ 5% interest rate. plus 355$/mo for insurance? That's with 6000 down payment.

so that's $49824.00 plus 6000$ = 55824.00
Actual amount of the car is 47196.00
Money lost on interest is 8628.00

Does this look OK?!

camarosscrazy · 07-22-2009, 02:14 PM

How old are you? Your insurance is crazy high!!!

wullger · 07-22-2009, 02:15 PM

What are the amounts in USD? Based on your location I'm gonna assume you quoted CDN prices.

SilverIce1 · 07-22-2009, 02:19 PM

I think you are absolutely crazy, unless you take home $4K or more per month.

Financing longer than 48 months on any car is a bad plan.

But, hey, it's a Camaro so that is bound to make any sane person at least a little crazy!

bumblebee123 · 07-22-2009, 02:23 PM

I'm 23 yrs old. And living in Vancouver, B.C. And those ARE NOT QUOTES. Those are exact prices.

bumblebee123 · 07-22-2009, 02:23 PM

Quote:

Originally Posted by camarosscrazy

How old are you? Your insurance is crazy high!!!

Yep. 23 yrs old. I hate the insurance in our place.

camarosscrazy · 07-22-2009, 02:27 PM

Oh my bad tottally missed your location sorry man and ya I would have to say those are outragous insurance prices.

wullger · 07-22-2009, 02:27 PM

Didnt say they were quotes. I said you probably quoted us prices in CDN. To the bulk of us that reside in the US, those numbers will seem way out of whack

Edit: Looks like one Canadian dollar = ~90 cents USD at the moment.

Those numbers are wayyy too high. You must've added every possible option to the car. Can you actually afford those payments?

bumblebee123 · 07-22-2009, 02:37 PM

Quote:

Originally Posted by wullger

Didnt say they were quotes. I said you probably quoted us prices in CDN. To the bulk of us that reside in the US, those numbers will seem way out of whack

Edit: Looks like one Canadian dollar = ~90 cents USD at the moment.

Those numbers are wayyy too high. You must've added every possible option to the car. Can you actually afford those payments?

Sorry about that. Its a 1SS w/ polished 20' rims, Boston Soundsystem and being it automatic I also had to add $1000 for that. That's pretty much what I have.

wullger · 07-22-2009, 02:40 PM

Are they selling it at MSRP? The numbers still seem so high. Or, are there some large taxes involved?

I'm not from Canada so I know nothing about purchasing a car there

You might ask for this to be moved to the Canadian regional area sub-forum so that you can get more local help.

bumblebee123 · 07-22-2009, 02:44 PM

Quote:

Originally Posted by wullger

Are they selling it at MSRP? The numbers still seem so high. Or, are there some large taxes involved?

I'm not from Canada so I know nothing about purchasing a car there

You might ask for this to be moved to the Canadian regional area sub-forum so that you can get more local help.

Nope. Actual car is 41040.00 plus 15% tax will be 47196$.

rickerda · 07-22-2009, 02:55 PM

No, That is too much money. Wait until the prices come down or look for a used Camaro in a year or two. You'll enjoy it more when it's not a burden.

gred04 · 07-22-2009, 02:58 PM

I assume this is a loaded SS? I didnt think you could spec a car to 47k.

Personally 1k a month for payment and insurance would scare me but that is just my opinion. Each person needs to decide how much they value the car.

I seem to recall that general budgeting guidelines indicate that total transporation costs shouldnt exceed 15% of your take home and that includes payment, insurance, maintenance and gas.

I think this is based on households so if you are not a homeowner you would have a lot more flexibility in what you decide to spend on a car.

Best of luck in whatever you choose.

wullger · 07-22-2009, 03:26 PM

Quote:

Originally Posted by bumblebee123

Nope. Actual car is 41040.00 plus 15% tax will be 47196$.

Holy CRAP. No wonder the price is so high.

Makes Texas' 6.25% look like a steal by comparison.

07-22-2009, 02:11 PM	#1
bumblebee123 Drives: Fast & the Furious Join Date: Feb 2009 Location: Burnaby Posts: 116	I need you guys & gals opinion! First time car buyer here. So I was at the verge of driving my car away from the dealer ship. I spoke to a gorgeous woman that handles the payment. (Forgot her job description) I left the dealership still thinking very hard if I should get it or not. The only thing that's stopping me is my family, (mom,dad,sis) will be buying a house next year. And if I get this Camaro, I'll be pretty useless on the monthly of the house. But I just need to get your opinion.. So guys. What do you think? 692$/mo for 72 months & that's w/ 5% interest rate. plus 355$/mo for insurance? That's with 6000 down payment. so that's $49824.00 plus 6000$ = 55824.00 Actual amount of the car is 47196.00 Money lost on interest is 8628.00 Does this look OK?!

07-22-2009, 02:15 PM	#3
wullger Supercharged Drives: 2010 Camaro 2SS/RS Join Date: Apr 2009 Location: Tyler, Texas Posts: 1,576 View My Garage	What are the amounts in USD? Based on your location I'm gonna assume you quoted CDN prices. __________________ 2SS/RS IBM A6, White Rallies Ordered: 4/30/09 Delivered: 8/18/09 Appearance Mods: Heritage Grille, ZL1 Replica Wheels Performance Mods: Flowmaster ARH Cat-Back Exhaust, ADM CAI, ADM L99-LS3 Conversion, ADM LSA Supercharger Kit, Lingenfelter GT9 Cam, Stainless Power Headers, Detroit Speed Sway Bars, ZL1 Fuel Pump 581 rwhp/535 lb/ft tq

07-22-2009, 02:27 PM	#8
wullger Supercharged Drives: 2010 Camaro 2SS/RS Join Date: Apr 2009 Location: Tyler, Texas Posts: 1,576 View My Garage	Didnt say they were quotes. I said you probably quoted us prices in CDN. To the bulk of us that reside in the US, those numbers will seem way out of whack Edit: Looks like one Canadian dollar = ~90 cents USD at the moment. Those numbers are wayyy too high. You must've added every possible option to the car. Can you actually afford those payments? __________________ 2SS/RS IBM A6, White Rallies Ordered: 4/30/09 Delivered: 8/18/09 Appearance Mods: Heritage Grille, ZL1 Replica Wheels Performance Mods: Flowmaster ARH Cat-Back Exhaust, ADM CAI, ADM L99-LS3 Conversion, ADM LSA Supercharger Kit, Lingenfelter GT9 Cam, Stainless Power Headers, Detroit Speed Sway Bars, ZL1 Fuel Pump 581 rwhp/535 lb/ft tq

07-22-2009, 02:40 PM	#10
wullger Supercharged Drives: 2010 Camaro 2SS/RS Join Date: Apr 2009 Location: Tyler, Texas Posts: 1,576 View My Garage	Are they selling it at MSRP? The numbers still seem so high. Or, are there some large taxes involved? I'm not from Canada so I know nothing about purchasing a car there You might ask for this to be moved to the Canadian regional area sub-forum so that you can get more local help. __________________ 2SS/RS IBM A6, White Rallies Ordered: 4/30/09 Delivered: 8/18/09 Appearance Mods: Heritage Grille, ZL1 Replica Wheels Performance Mods: Flowmaster ARH Cat-Back Exhaust, ADM CAI, ADM L99-LS3 Conversion, ADM LSA Supercharger Kit, Lingenfelter GT9 Cam, Stainless Power Headers, Detroit Speed Sway Bars, ZL1 Fuel Pump 581 rwhp/535 lb/ft tq

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07-22-2009, 02:14 PM	#2
camarosscrazy Drives: Money Pits Join Date: Dec 2008 Location: MN Posts: 49 View My Garage	How old are you? Your insurance is crazy high!!!

07-22-2009, 02:19 PM	#4
SilverIce1 Silver Ice Drives: 2010 SIM 2LT Automatic Join Date: Jul 2009 Location: South Central Kansas Posts: 191	I think you are absolutely crazy, unless you take home $4K or more per month. Financing longer than 48 months on any car is a bad plan. But, hey, it's a Camaro so that is bound to make any sane person at least a little crazy!

07-22-2009, 02:23 PM	#5
bumblebee123 Drives: Fast & the Furious Join Date: Feb 2009 Location: Burnaby Posts: 116	I'm 23 yrs old. And living in Vancouver, B.C. And those ARE NOT QUOTES. Those are exact prices.

07-22-2009, 02:55 PM	#12
rickerda Drives: 2010 Camaro 2LT RS Join Date: May 2009 Location: Chester VA Posts: 513 View My Garage	No, That is too much money. Wait until the prices come down or look for a used Camaro in a year or two. You'll enjoy it more when it's not a burden.

07-22-2009, 02:58 PM	#13
gred04 Drives: Boxster Join Date: Apr 2009 Location: US Posts: 36	I assume this is a loaded SS? I didnt think you could spec a car to 47k. Personally 1k a month for payment and insurance would scare me but that is just my opinion. Each person needs to decide how much they value the car. I seem to recall that general budgeting guidelines indicate that total transporation costs shouldnt exceed 15% of your take home and that includes payment, insurance, maintenance and gas. I think this is based on households so if you are not a homeowner you would have a lot more flexibility in what you decide to spend on a car. Best of luck in whatever you choose.