Loans Loans Loans - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Bruins0213 · 01-11-2014, 09:18 PM

Anybody here feels like that they regret purchasing the car? Of course not due to the car performance but the fact that you had to take out a big loan?
On top of that, I do not know about you but a few of you might be piled up on other different loans. Thoughts on how to cope with this madness?
Just a thought haha.

ChrisBlair · 01-11-2014, 09:21 PM

I put down 10K in cash and had a 14K trade in so...no big loan. What I regret is that I couldn't really keep the car I traded in any more.

jd10013 · 01-11-2014, 09:23 PM

I don't buy things that I either cant afford, or will put strain on my budget. I don't work for my car. I waited till I was 40 to buy it so it wouldn't be a strain on the budget. It's also why I bought an LS despite being able to buy an SS, LE, or even a ZL1 if I really wanted. at the end of the day, financial security (and some day retiring) was more important than a car. mine isn't bad, 347 per month. only other loans I have on top of that is my mortgage, and an equity line of credit.

batman53201 · 01-11-2014, 09:45 PM

i pay cash

DocMartens · 01-11-2014, 09:57 PM

Hang in there OP. Come up with a plan on what to pay off first and set some realistic goals.

jshaf · 01-11-2014, 10:03 PM

my only regret is that I live in a snowy climate and can't drive my SS 365 days a year. those lucky ones that live in the sunny states don't know how good they got it. two months and mine comes out of hybernation, counting the days!

trashmanssd · 01-11-2014, 10:11 PM

Maybe home equity might be able to write of interest on taxes. Consolidate debates in one loan

OK2DRUL · 01-11-2014, 10:12 PM

I don't see how these cars are any more expensive than anything else you could buy. If I wasn't driving this, I would be driving a truck and have more of a payment than I currently do most likely. My motto in purchasing cars is that if I can walk outside to get in it everyday and absolutely love it, then it is worth what I paid for it. If you over extend yourself, hopefully you learn a lesson this time and save more in the future before making an irrational purchase. I found my car two years ago, used, and the guy I bought it from was in some financial distress. I paid less for it then than I see cars going for sale on this forum. If you over extended yourself, seek some financial advice for an advisor or CPA.

BubbaSS · 01-11-2014, 10:17 PM

Buying a car is always sweet sorrow...You lose money the second you drive it off the lot, so you might as well purchase a car that makes it worth the loss

Wildcherry13 · 01-11-2014, 10:25 PM

You only live once! Hope that helps and hang in there.

jshaf · 01-11-2014, 10:26 PM

I crunch numbers for a living, I work my budget forward and backwards, I cut out all the none essentials leave enough to handle most situations, and I am far from rich. I would hinder a guess that I am one of the "poorer" Camaro owners. making it work is about discipline and being smart with where you spend and don't spend you money. there is no magic bullet. I buy used with low mileage to avoid taking the depreciation hit of 4 grand up front, pay as much down as I can, make sure the equity in my current ride if not paid off is very high. always have a number and the frame work for how I want the deal to look like and stay sted fast with that til I find the right deal. don't over pay no matter how much I want the car! that is where you get the regret, just chose to avoid it up front!

xnuyokr · 01-11-2014, 10:38 PM

The last three vehicles I bought were two years old with low mileage, (under 20K). IMO the best way to buy. The original owner took the big depreciation hit and I got a great deal on an almost new car with the remainder of the factory warranty left. Win win!

Dizzy82 · 01-12-2014, 01:18 AM

Life is full of debt.

thkfast · 01-12-2014, 03:01 AM

I spend a lot on my cars....they bring me happiness, I'll always have a car payment. Never had any kids, so I figure I saved a fortune on that. I try to not finance longer than 4 years so I'm not upside down. With interest rates at 2.24% for 48 months now, it's not that bad!

01-11-2014, 09:18 PM	#1
Bruins0213 Drives: 2013 2LT Camaro Coupe RS Join Date: Jul 2013 Location: los angeles Posts: 95	Loans Loans Loans Anybody here feels like that they regret purchasing the car? Of course not due to the car performance but the fact that you had to take out a big loan? On top of that, I do not know about you but a few of you might be piled up on other different loans. Thoughts on how to cope with this madness? Just a thought haha.

01-11-2014, 09:21 PM	#2
ChrisBlair Buick 455 Fan Drives: 1970 Buick, 2012 1SS LS3 Join Date: Jun 2010 Location: Boston MA Posts: 5,957	I put down 10K in cash and had a 14K trade in so...no big loan. What I regret is that I couldn't really keep the car I traded in any more. __________________

01-11-2014, 09:45 PM	#4
batman53201 Account not blocked Drives: The Batmobile Join Date: Mar 2013 Location: wisconsin Posts: 2,158 View My Garage	i pay cash __________________

01-11-2014, 09:57 PM	#5
DocMartens Drives: '14 1SS/RS LS3 Join Date: Nov 2013 Location: Elizabethtown, KY Posts: 201 View My Garage	Hang in there OP. Come up with a plan on what to pay off first and set some realistic goals. __________________

01-11-2014, 10:03 PM	#6
jshaf Montani Semper Liberi Drives: 2011 Black 2SS/RS w/ IOM stripes Join Date: Feb 2010 Location: Masontown, WV Posts: 4,841	my only regret is that I live in a snowy climate and can't drive my SS 365 days a year. those lucky ones that live in the sunny states don't know how good they got it. two months and mine comes out of hybernation, counting the days! __________________ Stainless Works 1 7/8 Long Tude Headers, Stainless Works High Flow Cats, Stainless Works Retro Chambered Catback, Z/28 Air Intake, RDP Tuned, FR41 Chrome Rims, 1100W stereo, 35% Tint

01-11-2014, 09:23 PM	#3
jd10013 Drives: 2012 camaro Join Date: Feb 2012 Location: central VA Posts: 3,196	I don't buy things that I either cant afford, or will put strain on my budget. I don't work for my car. I waited till I was 40 to buy it so it wouldn't be a strain on the budget. It's also why I bought an LS despite being able to buy an SS, LE, or even a ZL1 if I really wanted. at the end of the day, financial security (and some day retiring) was more important than a car. mine isn't bad, 347 per month. only other loans I have on top of that is my mortgage, and an equity line of credit.

01-11-2014, 10:11 PM	#7
trashmanssd Drives: Black 14 2SS/1LE/RS 14 Tundra Join Date: Dec 2013 Location: Plymouth, Ma Posts: 2,414	Maybe home equity might be able to write of interest on taxes. Consolidate debates in one loan

01-11-2014, 10:12 PM	#8
OK2DRUL ace5.org (Atlanta Club) Drives: 2010 Black/IOM 2SS LS3 Join Date: Sep 2013 Location: St. Simons Island, GA Posts: 1,011	I don't see how these cars are any more expensive than anything else you could buy. If I wasn't driving this, I would be driving a truck and have more of a payment than I currently do most likely. My motto in purchasing cars is that if I can walk outside to get in it everyday and absolutely love it, then it is worth what I paid for it. If you over extend yourself, hopefully you learn a lesson this time and save more in the future before making an irrational purchase. I found my car two years ago, used, and the guy I bought it from was in some financial distress. I paid less for it then than I see cars going for sale on this forum. If you over extended yourself, seek some financial advice for an advisor or CPA.

01-11-2014, 10:17 PM	#9
BubbaSS WHAT RED LIGHT?! Drives: 2011 Black Camaro 2SS/RS M6 Join Date: Apr 2011 Location: Miami, Florida Posts: 1,115	Buying a car is always sweet sorrow...You lose money the second you drive it off the lot, so you might as well purchase a car that makes it worth the loss __________________ 2011 2SS/RS M6 BLACK - VARARAM NO TUNE INTAKE, MODDED AND PORTED TB, PORTED INTAKE MANIFOLD, VITESSE THROTTLE CONTROLLER, DOUG THORLEY LT'S, CATLESS, X-PIPE, 25" STAINLESS WORKS RETRO CHAMBERED MUFFLERS, CUSTOM 2.5" MANDREL BENT EXHAUST, RICHMOND 4.10 GEARS, CUSTOM CAM (231/242 @ 114LSA), MUSTANG DYNO TUNED BY TORQ, 20% CERAMIC TINTS, EIBACH PROKIT SPRINGS 1" DROP, HAWK PERFORMANCE CERAMIC BRAKES, NITTO INVO TIRES, HYDROCARBON TAIL LIGHT AND FOG LIGHT BEZELS BY EMBLEMPROS, METRA DASH KIT, JVC KW-AV71BT, PHOENIX GOLD iAMP GM1, PASSPORT QI45 - 450 RWHP 415 RWTQ

01-11-2014, 10:25 PM	#10
Wildcherry13 Drives: 2013 2SS/RS IOM 1LE Join Date: Mar 2013 Location: Houston Posts: 330	You only live once! Hope that helps and hang in there.

01-11-2014, 10:26 PM	#11
jshaf Montani Semper Liberi Drives: 2011 Black 2SS/RS w/ IOM stripes Join Date: Feb 2010 Location: Masontown, WV Posts: 4,841	I crunch numbers for a living, I work my budget forward and backwards, I cut out all the none essentials leave enough to handle most situations, and I am far from rich. I would hinder a guess that I am one of the "poorer" Camaro owners. making it work is about discipline and being smart with where you spend and don't spend you money. there is no magic bullet. I buy used with low mileage to avoid taking the depreciation hit of 4 grand up front, pay as much down as I can, make sure the equity in my current ride if not paid off is very high. always have a number and the frame work for how I want the deal to look like and stay sted fast with that til I find the right deal. don't over pay no matter how much I want the car! that is where you get the regret, just chose to avoid it up front! __________________ Stainless Works 1 7/8 Long Tude Headers, Stainless Works High Flow Cats, Stainless Works Retro Chambered Catback, Z/28 Air Intake, RDP Tuned, FR41 Chrome Rims, 1100W stereo, 35% Tint

01-11-2014, 10:38 PM	#12
xnuyokr Drives: 2012 1LT Drop Top Join Date: Oct 2013 Location: Yardley, Pa Posts: 745	The last three vehicles I bought were two years old with low mileage, (under 20K). IMO the best way to buy. The original owner took the big depreciation hit and I got a great deal on an almost new car with the remainder of the factory warranty left. Win win! __________________

01-12-2014, 01:18 AM	#13
Dizzy82 Drives: 2011 1LT/RS A6 RJT SuperCharged Join Date: Mar 2011 Location: 87114 Posts: 3,503 View My Garage	Life is full of debt. __________________ Power is worthless without control. *The 2nd* protects the 1st.** BMR sub frame brace, BMR tunnel brace, LSR sways, LSR CM ca & tl, Sphon ExD el, GM tower brace, Megan EZ Streets, Goodridge Stainless Steel Braided brake lines, PowerStop D/S rotors & pads, Doug Thorty Ceramic Shorties, Magnaflow x-pipe, MRT V2.0, KICKER PowerStage sub & amp, Infinity speakers & tweeters, Viteese Throttle Controller, Viteese Paddle Shifters, ACS T2 Splitter, ACS T2 Ports/Quad LED lights, VDI kit, Havoc diffuser, IPF ECU/TRANS tuned, IPF/KPE Supercharged. 364RWHP/297RWTQ

01-12-2014, 03:01 AM	#14
thkfast Drives: '14 Red 2SS/RS/LS3 Join Date: Dec 2013 Location: Cedar Rapids, IA Posts: 692	I spend a lot on my cars....they bring me happiness, I'll always have a car payment. Never had any kids, so I figure I saved a fortune on that. I try to not finance longer than 4 years so I'm not upside down. With interest rates at 2.24% for 48 months now, it's not that bad!