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Old 12-15-2010, 10:37 AM   #1
RedJewel2SS
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Unhappy Starting to Consider Selling my Camaro...

EDIT: i've decided not to sell my camaro, and we will wait to get my wife a new car until her current one reaches 100,000 miles.

Since i could remember, i've always wanted a Corvette... when the new Camaro came out i felt like i HAD to have it cuz it was new, cool, and the closest thing to a corvette i can get for my age and income. the first 6 months, it was great! the car was a major head turner and i was the only Camaro on the road. as they build more and more, i started to see them on the streets more and more. to date, i can say i see at least 5 or 6 new camaros on the roads everyday! that is A LOT! the car is no longer "exclusive", it doesn't really get that head turning reaction anymore unless i stomp on the gas, and it only gets driven 50 miles a week. (Note, that i said AFTER i bought the car it felt exclusive and was a head turner, i do not state i bought it because it was exclusive and a head turner).

My wife and I have been discussing it for a few weeks now, she wants a new 2011 SRX, but we cannot afford 3 new car payments. the other day, i said to her, "what if we sold your car and the Camaro for the new SRX?" she looked at me like i was crazy saying, "if we did that you would resent me for the rest of our lives because you love that car." yes, i do love the car BUT it is... JUST a car.

IF, and that is a REALLY BIG IF, i went through with selling the Camaro, i will not accept less than $35k for it, might start out asking $37k. its fully loaded 2SS/RS with $5k in mods. i sat down last night and crunched all the numbers... if i sold it right now for $35k, trade in my wife's car and got the SRX she wants, we would actually be saving $600 per month in car payments, insurance, and fuel. i can either apply that money to pay off student loans and car payments faster and actually save enough in finance charges to where i would not be losing any of the money i put into the car, including monthly payments. it would be like i never spent money on a sports car once i pay off my debts.

or we could save that extra cash and save up for a down payment on a house once i'm in a permanent location with my job in a year and a half. i figured with that extra savings, plus saving part of my bonuses, we could have about $25k for a down payment by summer 2012.

well, that's my rant, i've really had a "come to Jesus" moment with owning her. i love the car, but a few years from now when i'm debt free and have a house, i should be able to pay cash for that Corvette i've always wanted!

i'm not really looking for a poll on if i should sell the car or not, that would be too typical for a forum. and please don't bash me, bash Dave Ramsey for this predicament!
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Old 12-15-2010, 10:54 AM   #2
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First you'll most likely have a hard time getting $35k for it. People don't always like modded cars and even still they may want to do other things than you have. For me it's not just the car but all of this here and all the great people here and being able to do things like what we did for Adam the other day. It's more than just a car. It has become a lifestyle. One where I spend countless summer nights talking with friends till the mosquitos eat us alive. One where we get together at big events and show what we have done and are planning to do. I don't think there are many cars that bring about the same experience and as much as I loved my CTS and didn't want to sell it. I wouldn't trade this car and the people that have come into my life for anything.
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Old 12-15-2010, 11:03 AM   #3
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It really sucks but you'll lose your ass on your mods. It's cause 99.9% dont appreciate them and just see they can get a new one for bout that and do what they want. If you could get the house that would be great its amazing to me the deals that are out there, either way good luck I love the red jewel almost as much as IBM and and I always love me a vette? Speaking of when are they changing the vette 2013-2014?
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Old 12-15-2010, 11:05 AM   #4
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I'm 55 years old. I paid cash for my camaro and have put $25K in mods on it.
I drove a company truck for the past 16 years saving money and paying down debt. I kept the wife in a nice car and put my kids through school. When the day came I was completely debt free I went out on my birthday last year and wrote a check for my second new car in my life time. I too am a big fan of Dave Ramsey. I wish I could have followed his thinking years before. I my book you are on the right track RedJewel. I love these cars but if I had to pay $600 a month to have it parked in my garage most of the time it would not be worth it to me. I'd sell also. Get out of debt and stay out. Good Luck.
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Old 12-15-2010, 11:11 AM   #5
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Don't count on the mods getting you extra $ for your car it won't. Most dealership don't want them on the trades since they will have to remove them if they want to certify the car. If you sell it yourself most people think the mods indicate a beater ! I have sold many cars with mods and never recover that investment because a car really is not an investment unless it is very rare or the mods are worth more than the car.
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Old 12-15-2010, 11:16 AM   #6
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As far as not liking seeing other camaros on the road, its a 30k car. You want exclusive then you have to spend quite a bit more to get something normal people don't/can't buy. Don't get me wrong, I know where you are coming from on being one of the only camaros around. I enjoy it too. But that is also part of the beauty of this car. For rougly low 30's you can get yourself into a helluva car that can hang with or even beat cars twice its price. Hence the more and more popping up.
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Old 12-15-2010, 11:30 AM   #7
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It sounds like you may be on the younger side. You should have been saving for a house downpayment for for a while now and also towards retirement (the earlier you start the better). Do you have children or are you planning on them? If so I think your priorities may be a little mixed up. I am not trying to judge, but based on the information provided, you may need to rethink where your money is going. At any rate good luck, I hope it all works out for you and your wife.
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Old 12-15-2010, 11:31 AM   #8
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ppl want to outsell the mustang every month, but want their camaro to be exclusive - that dont add up...

That said, these are sweet cars.

But the point I wanted to make is its just a car and living debt free is more important than a piece of metal (finely sculpted metal nonetheless), so for me it would be a no-brainer.

It sounds like youre young like me, so you'll have plenty of time for sweet rides. Saving 6-hundo / month is big and you're still getting a new SRX in the garage (get the new Grand Cherokee), so all in all life is good.

Just be ready to bite your lip while not having a fun car. ( I drove an accord coupe for almost 2 years- you'll find yourself spending alot of time acting like Joe Dirt talking about the cool cars you used to have and the cooler ones you want, but just remember, its only temporary)
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Old 12-15-2010, 11:49 AM   #9
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I waited 40 years for a Camaro. Seriously.

I didn't buy it until the house was paid for and the kids had graduated from college. Like Camaro54, I wrote a check for the entire amount when the time came.

But, now that you have it, why not keep it and use it as your daily driver? You will never recoup the money you spent on it, so you might as well use it up and enjoy the 100,000 plus miles you will get out of it.
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Old 12-15-2010, 12:07 PM   #10
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i just mod the looks so nobody has one exactly like mine. a custom paint job is better than takin a beatin on the mods you did. but when momma wants, she gets.
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Old 12-15-2010, 12:11 PM   #11
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You will get less for a modified camaro than if it were bone stock.....pull the mods and sell them ala cart. Also I don't think you will see anywhere near 35. I think a house is always a priority over a car which is why I sold my vette 16 yrs ago. Now I am riding in a sports car again. That being said I think this is the golden age of muscle cars and do not think it will be long before all mfg's are selling electric cars and not building 400hp muscle cars.....
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Old 12-15-2010, 12:22 PM   #12
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I don't understand why you would even mod a car that you only drive 50 miles a week! I know thats besides the point. In your case I would probably sell it. Sounds like the money could be going to something else that makes more sense. In know for me if I'm paying for a car and modding, my intentions are to drive it a lot.
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Old 12-15-2010, 12:28 PM   #13
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Just thought I'd throw this in for a dose of reality on your selling price...take it for what it's worth...

SinisterSS has had is SS up for sale since late October. 601rwhp/574rwtq. Started at $45k, then dropped to $42k and is currently at $40k. If his car isn't selling for $40k, then no way are you going to get $35k-37k for yours.

http://www.camaro5.com/forums/showthread.php?t=112544


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Old 12-15-2010, 12:32 PM   #14
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Quote:
Originally Posted by RedJewel2SS View Post
My wife and I have been discussing it for a few weeks now, she wants a new 2011 SRX, but we cannot afford 3 new car payments. the other day, i said to her, "what if we sold your car and the Camaro for the new SRX?" she looked at me like i was crazy saying, "if we did that you would resent me for the rest of our lives because you love that car." yes, i do love the car BUT it is... JUST a car.
If you don't own a house, I would think that should be your first priority. It is unlikely that house prices will ever be as low as they are, as well as mortgages being in the mid 4%'s. I'm in my late 50's and didn't own my first home until my early 30's. I never owned a new car until after I bought my house.

Your plan is to get rid of the Camaro and the wife's car, and downsize to one vehicle? Can you both survive with one vehicle? If you can survive with one vehicle why does it have to be a new SRX? (I see plenty of them on the road by the way, IMHO less unique then the Camaro) I would buy a good used car in the 15k-20k range and buy a house. If you need 2 cars, buy a beater for the 2nd one.
JMHO
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Old 12-15-2010, 12:34 PM   #15
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Originally Posted by 67 Convertible View Post
If you don't own a house, I would think that should be your first priority. It is unlikely that house prices will ever be as low as they are, as well as mortgages being in the mid 4%'s. I'm in my late 50's and didn't own my first home until my early 30's. I never owned a new car until after I bought my house.

Your plan is to get rid of the Camaro and the wife's car, and downsize to one vehicle? Can you both survive with one vehicle? If you can survive with one vehicle why does it have to be a new SRX? (I see plenty of them on the road by the way, IMHO less unique then the Camaro) I would buy a good used car in the 15k-20k range and buy a house. If you need 2 cars, buy a beater for the 2nd one.
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Old 12-15-2010, 12:35 PM   #16
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Rj, I think you're seeing a wealth of experience and wisdom here. I'm in the NW and I dont' think you'd get that kind of money for a used Camaro here either, depending on the mods, I wouldn't expect much if anything from them. Maybe a high end stereo, costom rims and MAYBE paint, beyond that, people willing to pay for the mods you chose are few and far between.

I don't know where you are on paying it off, but perhaps you should just enjoy the car, pay it off, and go used or even stick with what you have for your wife's car....at least for now. You don't make money buying/selling newer cars, it just isn't in the math.

Saving and spending for your future and your family's future must always trump the car......it's ultimately just transportation when you figure it into your budget.

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Old 12-15-2010, 12:36 PM   #17
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Do one of these numbers to it, this will get them heads turning again...



...and nodding too.
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Old 12-15-2010, 12:52 PM   #18
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Oh gawd that picture is scary! Once you get a house you will have even less money...trust me.
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Old 12-15-2010, 12:55 PM   #19
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you doing it the American way! running up the debt and financing your life away! lol

^^ i bet that car tastes sweet as candy!
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Old 12-15-2010, 01:03 PM   #20
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Quote:
Originally Posted by RedJewel2SS View Post
...the car was a major head turner and i was the only Camaro on the road. as they build more and more, i started to see them on the streets more and more. to date, i can say i see at least 5 or 6 new camaros on the roads everyday! that is A LOT! the car is no longer "exclusive", it doesn't really get that head turning reaction anymore unless i stomp on the gas,...
If this is a huge deal to you, you're never going to happy with any car you buy, unless its an exotic or something similar.

Quote:
Originally Posted by stand-al0ne View Post
ppl want to outsell the mustang every month, but want their camaro to be exclusive - that dont add up...
Exactly.
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Old 12-15-2010, 01:18 PM   #21
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Yeah, no matter what car you buy, unless it is way out of production or a very expensive exotic, you will be unhappy as more get bought and are on the road. What you are asking seems way out of line, and the mods usually mean nothing on resale. (I tried that..no dice)
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Old 12-15-2010, 01:23 PM   #22
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What is so rare about a Corvette? You'll be tired of that in a year too. Sell what you have to, save your money and buy a house first! It's a perfect time to buy and if you use your head, the house value will appreciate, not go down like all new cars do. You have plenty of time to save for a nice car down the road. Good Luck.
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Old 12-15-2010, 01:26 PM   #23
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Sell it. last yr when times got tuff i had to sell my 98' camaro. i said i would never sell it b/c i had so much money and man hours into it. but it was the only thing paid off so a quik 20g's came in handy. when the ecomony turned around i bought my new one. things happen for a reason, sell it buy a house and then start saving for a car.

I hate financing cars but as long as you can put enough money down to make sure you are never upside down in it that is much better than trying to get money out of mods.
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Old 12-15-2010, 01:45 PM   #24
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I see a hundred corvettes on the way to work and back everyday nothing special there either, but if that's what you had your heart set on shouldn't have "settled" for the Camaro. In the end do what makes you happy but i would NEVER trade my car for a corvette.
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Old 12-15-2010, 01:51 PM   #25
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Sounds like you know what you need to do. Heck,even if you drive home in a 80's K car when you get home and see its your home it makes what you drive seem way less important. Cars will come and go and you'll have plenty of them along the way.
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