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Old 04-26-2010, 08:52 PM   #1
tommygun6644
 
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I've decided to get rid of my Camaro...

Hello guys;

first off, I would like to thank each and everyone of you for the past year of laughs and information. Without this site and you guys, I would be clueless on so many more aspects than I already am.

Anyway, in a nutshell I currently owe 37,2XX on the car. I got my M6 2SS/RS IBM w/ Sunroof 6/11/09, held my nose and got the extended warranty and gap insurance, got raped on interest (almost 8%. I was 20 at the time with little to no credit) and it came to almost 50k for the car. Since then, I've been making monthly payments of $678 and owe slightly more than the car is worth. It currently has 5,000 miles and is near mint, stored for the Winter, etc. I pay for the car myself BTW, also as a full time student

I am attending Marine Corps OCS this Summer, and will hopefully become a 2nd Lieutenant by next Summer when I finish my B.A. Just the thought that I will have little to no time to enjoy the car in the coming years, and the sheer fact I owe so much on it still leaves a bad taste in my mouth. Don't get me wrong, I do love this car. It is just time to become slightly more practical.

So yeah, I think when it finally freaking stops raining outside I will spruce it up, take some pics, and put it on eBay to see what type of offers I can get. Any tips you guys can provide when it comes to selling something like this would be greatly appreciated, that is if you guys will still talk to me I am hoping at best to break almost even. I am hoping I can get a little extra since I am told the warranties are transferable

I still love American muscle. I might spend a few grand in the coming months and get an older Camaro or an older Dodge Charger so I still have a toy, but I don't know.

Godspeed
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Old 04-26-2010, 08:59 PM   #2
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check on cancelling the insurance and extended warranty, you should get a refund for most of it, that may help out a little.
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Old 04-26-2010, 09:01 PM   #3
cam5
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im considering a sell also.. im past halfway to paying mine off.. but got a lot of things on my plate.. including marriage. and just bought a house.. so i feel ya.. sad sad times..
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Old 04-26-2010, 09:01 PM   #4
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check on cancelling the insurance and extended warranty, you should get a refund for most of it, that may help out a little.
Will do. Much appreciated.
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Old 04-26-2010, 09:02 PM   #5
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Wow, sorry to hear that...hope you can maybe pick up a Z28 in the future Thanks for your service to our country and best of luck to you.
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Old 04-26-2010, 09:02 PM   #6
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When you get older and your paycheck gets bigger, go for another Camaro!!!
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Old 04-26-2010, 09:06 PM   #7
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my best advice is dont put it on ebay! go with auto trader. or something
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Old 04-26-2010, 09:08 PM   #8
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Quote:
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Wow, sorry to hear that...hope you can maybe pick up a Z28 in the future Thanks for your service to our country and best of luck to you.
Quote:
Originally Posted by mfr1950 View Post
When you get older and your paycheck gets bigger, go for another Camaro!!!
Exactly what I was going to say, make sure you still visit and best of luck on the sale .
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Old 04-26-2010, 09:11 PM   #9
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Sorry to hear of your situation.. Best wishes with all you have on your plate.. We'll still be here...
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Old 04-26-2010, 09:12 PM   #10
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Unfortunately it looks as if you are buried finacially in your car. Your best way to sell it would be to a private individual. That means advertising and showing the car and getting all sorts of unrealistic offers. However, sometimes on specialty cars like Camaros you may be able to get top dollar for a clean well optioned car.

These cars were very hot sellers initially, and are still holding value, but with the introduction of the new Mustang and the newness wearing off of the Camaro, I think that you will see the prices for these cars dropping significantly. There will definitely be a price war between Ford and Chevrolet.

If you trade it on another car, you will have to roll over the negative equity on it, so you may not be in any better shape than you are now.

Yes, the GMPP extended warranty is transferable, or you can get a refund on a large percent of the purchase price when you sell. The refund seems like the best choice for you, as I doubt that you would be able to recoup as much on a transfer as you would receive on a refund.

I think that you are definitely making the right decision based on your situation. Get out from under those payments, get your degree, and get your commission.

I bought my first new car when I was in pilot training in the Air Force. It was a 1967 Camaro. You have a lot of time ahead of you, so be a little conservative and think of the future. There are a lot of cars out there for you in the years to come.

Best of luck in you endeavors.
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Old 04-26-2010, 09:23 PM   #11
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Sorry to hear about that man. Good luck in the military, and selling your ride :/
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Old 04-26-2010, 11:42 PM   #12
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Tommygun,

I am myself a recently commissioned Marine Corps 2ndLt, I empathize with your troubles here. I agree with what has been said on here about trying to unload the Camaro to a private citizen...get as much as you can for it but don't get unrealistic. Some odds are stacked against you. The car is now NOT brand new, the 2011 5.0 Mustang will certainly be drawing new fans, and the 2011 Camaros start production in June, I believe.

You are most likely going to be a bit in the hole after unloading the car, but there is light at the end of the tunnel. As a Marine Officer, you'll find that your paycheck is more than adequate to cover your expenses and contribute large portions to your car payment as well as retirement. I am comfortably living and paying my car insurance, rent, utilities, renter's insurance, car payment on my IOM 2SS, monthly payment to my IRA, paying off 500 a month on non-auto related loan, and am still putting 1000 in the bank each month.

Right now, prepare yourself for OCS, get in shape, get focused, and make your priority being the best damn Marine you can be because your enlisted Marines deserve nothing less. Get your car again when you're back on your feet.

Semper Fi
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Old 04-26-2010, 11:52 PM   #13
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I see that you have another car listed. If you can afford it just keep basic insurance on it and garage it while you're gone. You could even try going to a different bank for a lower interest rate. Seems hard to keep a car and rarely drive it but you do love the car so I know it would be hard to sell. Good luck.
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Old 04-27-2010, 12:01 AM   #14
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sorry to hear that man. good luck to you.
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