Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums - Camaro5.com
 
Hines Performance (HPE)
Go Back   Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums - Camaro5.com > General Camaro Forums > Camaro Price | Ordering | Tracking | Dealers Discussions

Camaro Price | Ordering | Tracking | Dealers Discussions Discuss pricing and ordering experiences.

Reply
 
Thread Tools
Old 01-31-2011, 10:28 PM   #1
bmorecam
Account Suspended
 
Drives: jealous vendors mad!! HAHA!!
Join Date: Jan 2011
Location: CYBERGMONSTER@GMAIL.COM
Posts: 3,660
should I back out from this purchase?

I went to one of my local dealers here in md and this is what I ended up with:

silver 2011 camaro LS 6 speed
$23,599 MSRP
$1000 discount
$1000 gm loyalty discount
Final before tax tags etc. $21,599

As far as the price I think I did ok but for the financing:

I put down $13,000 cash and financed the rest and got 9.5% APR with 631 credit score due to bankruptcy 8 months ago. I use to have AAA credit rating before filing for bankruptcy. I am not use to high APR so the 9.5 kinda got me a little worried and I feel like I could even got better rate. What do you guys think? are these acceptable numbers?
I did not finalize the deal yet and can back out anytime.
bmorecam is offline   Reply With Quote
Old 01-31-2011, 10:50 PM   #2
Sin
 
Sin's Avatar
 
Drives: DEAD
Join Date: Nov 2010
Location: Louisiana
Posts: 352
That is a good rate with the recent bankruptcy.
Sin is offline   Reply With Quote
Old 01-31-2011, 11:26 PM   #3
CC Performance
Account Suspended
 
Drives: 99 Camaro SS, 79 z28, 70 GTX
Join Date: Oct 2009
Location: ST Helens, OR
Posts: 1,777
Agreed, seems like a decent rate. If its the car you want and you can afford the payments, its not a bad deal on the car IMO.. compared to what I have seen around here.
CC Performance is offline   Reply With Quote
Old 01-31-2011, 11:29 PM   #4
daveagogo1
TRI COUNTY TAMPA
 
daveagogo1's Avatar
 
Drives: 2011 1SS/RS VR/BLK A6
Join Date: Jan 2011
Location: Trinity, Florida
Posts: 6,627
It's a perfectly reasonable rate with only a 630 score. Especially in these times. You only got that rate because your putting down 13k.
__________________
Quote:
Originally Posted by HufferSS View Post
Fast cars have rubber on the quarter panels...you sissies need to knock it off.

daveagogo1 is offline   Reply With Quote
Old 01-31-2011, 11:29 PM   #5
camarowa

 
camarowa's Avatar
 
Drives: 2013 SVT Raptor, sold 2010 Camaro
Join Date: Jul 2009
Location: PNW....almost canada
Posts: 1,899
I am suprised you got financing at all.
__________________
- Pfadt Suspension Package; Springs & Sways
- Brembo Brake Upgrade (Yellow); Courtesy Fesler Built
- Custom Magnaflow Exhaust
- Blacked-Out Bowties & RS Emblems, Front bowtie delete
- Full Dynamat Extreme Trunk Coverage
- Tinted side markers
- Interior DSV Customs Leather Upgrades
- Airaid CAI V2
- Forgestar F14 Gunmetal 20x9, 20x11
- Doug Thorley Shorties
camarowa is offline   Reply With Quote
Old 01-31-2011, 11:48 PM   #6
LYCAN
Tattooed K9
 
LYCAN's Avatar
 
Drives: E63AMG
Join Date: Jan 2011
Location: Germantown, MD
Posts: 278
Don't confuse the price of the car with the financing terms....two different things. You can continue to shop around for financing independant of the vehicle price. Try credit unions. They typically offer better terms. If you put down a $500 deposit most places will hold it for you while you talk to financial institutions. However...to be 100% honest with you that rate isn't all that bad with a credit score down in the 600s. I knew of some old buddies getting close to 15% with a bankruptcy. Sometimes even on new vehicles people with good scores will get 7% to 8% depending upon the deal. Seriously, I wouldn't sweat this APR. Get the vehicle, stay regular on the payments, build back up your score, and enjoy it for Spring. If you can't afford it you can always sell it.
__________________
Regards,
John
'11 2SS Black/Black M6
Prior Project Cars: 96 WS6, 96 Steeda Cobra, 93/74/99/01ZO6 Vettes, Supra Turbo, and BMW M3.
LYCAN is offline   Reply With Quote
Old 02-01-2011, 10:48 AM   #7
bmorecam
Account Suspended
 
Drives: jealous vendors mad!! HAHA!!
Join Date: Jan 2011
Location: CYBERGMONSTER@GMAIL.COM
Posts: 3,660
Thanks guys, I feel a bit more comfortable now that I got some of your opinion. At first the sales guy tried to give me a 13.6% apr so I was thinking about just leaving and thats when he asked "what apr are you looking to get?" I told him I am looking to get anything from 7-9%, he came back 30 minutes later and gave me the 9.5%. I was kinda surprised how he went from 13+ to 9.5% so I asked him is it the $13000 down payment that made the financing go from 13-9.5% apr? and he replied saying after working in sales for over 20 years he had never seen apr get adjusted by someone's down payment, so at that point I told him that I just wanted to put down $3000 if thats true and at first he said ok than a few minutes later he said that he would have to redo the financing papers and that it probably was not going to be a good idea.
bmorecam is offline   Reply With Quote
Old 02-01-2011, 11:22 AM   #8
67 Convertible

 
67 Convertible's Avatar
 
Drives: 67 Camaro Convertible
Join Date: Jun 2009
Location: MA
Posts: 1,728
I'd say you got a good deal on the car.
As others have stated, with bankruptcy less than a year ago, I'm surprised anyone would finance you.
Take the 9.5% and make sure you make all your payments on time (not just the car, but everything) and try refinancing for a lower rate in a year or so.
__________________
_____________________________________________
2LT/RS RJT, Blk Rally Stripes, Beige Interior, Sunroof
Placed order at dealer 4/24/09
1100 - 4/28/09
2000 - 5/01/09
2500 - 5/05/09
3000 - 5/05/09
3300 - 5/30/09
3400 - 6/05/09
3800 - 6/18/09
4000 - 6/18/09
4B00 - 6/18/09
4200 - 6/22/09
5000 - 7/01/09
6000 - 7/01/09 It's Home!!
0000 - 7/14/11 Traded in with 24,000 miles. Currently 5th Gen less
67 Convertible is offline   Reply With Quote
Old 02-01-2011, 11:48 AM   #9
kook
 
kook's Avatar
 
Drives: 2010 2SS Yellow
Join Date: May 2010
Location: Indiana
Posts: 543
Not being a dick here , but it sounds as if you should keep saving your money to insure you don't end up there again. That Camaro will always be available. JMO
__________________
Edelbrock E-Force
Stainless Works Lts
Roto Fab CAI
Magnaflow Street Cat-Back
DOD Delete
Forgestar F-14's and Pedders XA + PKG
Custom grind cam from Cincy Speed
ADM dual fuel pump
ADM AF/Boost gauges
FTI 3200 convertor
Hurst shifter
Cincy Speed Build and Tune 540rwhp
kook is offline   Reply With Quote
Old 02-01-2011, 11:53 AM   #10
Sevn86


 
Sevn86's Avatar
 
Drives: 2010 Camaro 2LT/RS ABM
Join Date: Sep 2009
Location: Sugar Land, TX
Posts: 13,088
Car price seems good but push for another $500 off. I say it sounds about right but you might want to shop around for financing it. Try a credit union but remember every time they check your credit it damages the score so don't go everywhere looking for a good rate. Also if you do go with what the dealer is offering you try to pay of the car as soon as possible so you can save on all that interest. Try edmunds.com/tmv and see if they show you what the invoice price is with options. Just this past saturday my dad and I bought a new car and we got it for $555 under invoice. I did all my research and it paid off. He also got 0% as his credit score was 854.
__________________
2LT, RS, AT6 ABM, Gray Leather
Quote:
Originally Posted by baclarsen View Post
Dude, you go through cars faster than I go through underware!!
1000 Initial Order 9/14/2009 - Classic Chevy Sugar Land
1100 Order accepted at dealer: 9/15/2009 - NPGV41.
2000 Order accepted by GM: 9/29/2009
3000 Accepted By Production Control: 9/30/2009 - TPW 10/26/09
3100 Sequenced:10/12/09
3300 Scheduled For Production:10/13/09
3400 Broadcast:10/22/09
3800 Produced:10/27/09
4000 Available To Ship:10/28/09
4200 Shipped:10/29/09
5000 Delivered To The Dealer:11/09/09
6000 Delivered To Customer:11/12/09
Sevn86 is offline   Reply With Quote
Old 02-01-2011, 12:07 PM   #11
2010SLVRBULIT


 
2010SLVRBULIT's Avatar
 
Drives: G5 & C6
Join Date: Apr 2009
Location: MARS
Posts: 7,048
good price for the car, and the rate is a different story...
2010SLVRBULIT is offline   Reply With Quote
Old 02-01-2011, 02:45 PM   #12
JCL-2SS
 
JCL-2SS's Avatar
 
Drives: 2010 2SS Imperial Blue
Join Date: Mar 2010
Location: Lindenhurst, NY
Posts: 219
As for the car i would ask for the 500 off and maybe settle for 200 or 300 off, at very least try to get the maintenance thrown in (i.e. oil changes and such).

As for the financing get a second opinion from your bank if you have one or a credit union. Stealerships are in this to make money, with the amount of money your putting down you should be able to get a better rate, since the loan would be worth less than what your putting down. i have 690 credit and dealer offered me 4.5% at my bank Capitol One they gave me 3.6%.

Last option wait till you have the money to buy the car cash, as previous post stated the Camaro is not going anywhere. In meantime find ways to improve your credit.
__________________
2010 2SS IBM L99 6A, Janetty Tune, Dynatech headers and cats, Flowmaster exaust, SLP underdive pulley, CAI inc. CAI, MSD wires, LED's -taillights, side markers, knight rider, interior, Chevy emblem, rear plate
JCL-2SS is offline   Reply With Quote
Old 02-02-2011, 01:08 PM   #13
woolfman72
 
Drives: Black 1LT RS
Join Date: Jan 2011
Location: Florida
Posts: 279
Quote:
Originally Posted by Sevn86 View Post
Car price seems good but push for another $500 off. I say it sounds about right but you might want to shop around for financing it. Try a credit union but remember every time they check your credit it damages the score so don't go everywhere looking for a good rate. Also if you do go with what the dealer is offering you try to pay of the car as soon as possible so you can save on all that interest. Try edmunds.com/tmv and see if they show you what the invoice price is with options. Just this past saturday my dad and I bought a new car and we got it for $555 under invoice. I did all my research and it paid off. He also got 0% as his credit score was 854.
Actually that part isnt true . When it comes to your "credit Score" for car and mortgage shopping within a two week period are considered one inquiry . Now seeking other credit (Credit cards and other loans) the inquiries generally are counted against you (depending on the lender).

Also While i dont have a Bankruptcy on my report (i have low AAOA and carring a 30% utility average on all my accounts) my scores are around mid 600's and i have been preapproved Through USAA for up to a 50k Car loan at 4.8%. So i have to agree with the others and say shop around . Credit Unions are the way to go if you can join one or are already a member.

Good luck!
woolfman72 is offline   Reply With Quote
Old 02-02-2011, 01:13 PM   #14
anglwngss
Treasurer LoneStarCamaro
 
anglwngss's Avatar
 
Drives: 2011 Synergy Green 2SS/RS
Join Date: Oct 2010
Location: Venus, Tx
Posts: 1,635
If you are looking for a better interest rate now, but can't get a bank or credit union to finance you, go ahead with the deal and try again 6 to 9 months later. Some allow you to refinance with a lower interest rate without adding months to the life of the loan.
anglwngss is offline   Reply With Quote
Old 02-02-2011, 01:23 PM   #15
CC Performance
Account Suspended
 
Drives: 99 Camaro SS, 79 z28, 70 GTX
Join Date: Oct 2009
Location: ST Helens, OR
Posts: 1,777
Quote:
Originally Posted by woolfman72 View Post
Actually that part isnt true . When it comes to your "credit Score" for car and mortgage shopping within a two week period are considered one inquiry . Now seeking other credit (Credit cards and other loans) the inquiries generally are counted against you (depending on the lender).

Also While i dont have a Bankruptcy on my report (i have low AAOA and carring a 30% utility average on all my accounts) my scores are around mid 600's and i have been preapproved Through USAA for up to a 50k Car loan at 4.8%. So i have to agree with the others and say shop around . Credit Unions are the way to go if you can join one or are already a member.

Good luck!
Great idea !! Getting preapproved takes that game away from them when then try and sell you the car as well.
CC Performance is offline   Reply With Quote
 
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
What song are you listening to right now Muscle Master Off-topic Discussions 6108 11-05-2014 07:37 AM
Camaro Style offering Double Din Special and other audio items Indpowr Audio / Visual / Electronics/ Gauges / Nav 99 11-16-2010 09:12 PM
Unusable Back Seats LostInMoscow General Automotive + Other Cars Discussion 27 09-24-2010 02:49 AM
From Va, to Nm and back. WKD FIRE goes on a long cruise!!! edog Off-topic Discussions 1 08-25-2010 05:26 PM
Cat back Vs Axel back MillerTime Camaro V8 LS3 / L99 Engine, Exhaust, and Bolt-Ons 3 05-06-2010 02:12 AM


All times are GMT -5. The time now is 03:14 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.