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Old 10-12-2011, 03:01 PM   #1
fiascoes1
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Down payment, how much?

Ok, now that the Zl1 price is expected to be over 60k out the door, how much do you guys plan on putting down? How many of you are planning to pay it cash? I myself plan on putting down at least 15k and finance the rest.
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Old 10-12-2011, 03:06 PM   #2
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As much as I can, or as much as my wife will allow me to. The rest will
be taken out from my home equity, which will be alot lower then through
GM I'm thinking. So basically cash to the dealer all at once.
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Last edited by Z4me; 10-12-2011 at 03:51 PM.
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Old 10-12-2011, 03:07 PM   #3
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I will finance the whole darn thing as long as i get my interest rate I want
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Old 10-12-2011, 03:45 PM   #4
1BADZL1
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My plan is 1/2
Could vary.... and is also a key factor for me..
Not wanting over a $600 month payment on this...
Has anyone done any budgeting or numbers crunch to see where you are at as far as payments etc?
If I pay half down I am still looking at about $500 a month or so give or take with a low percentage rate...
I could only guestimate that people that finance the whole thing for even the longest term will have a $1,000 or more monthy payment. For anyone under a $40,000 a year income would seem insane to me too.
But then again, I do not have anyone helping me make car payments either. My Dog wont help, nor will my cat, or my Girlfriend...
She has plans of her own and wants a Acura but that is a whole other story.
I would like to hear of peoples plans though and down payment numbers.
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2012 Camaro ZL1 Car Name: Bruce
ZL1, LSA, MN6/MG9, DSX, RTQ, VR,
Current Status:
2030
1000 Initial Order 11/11/2011 Chevyland
1100 Order accepted at dealer: 11/11/2011 - PZSD7S
2000 Order accepted by GM: 12/14/2011
3000 Accepted By Production Control: 00/00/2011 - TPW 00/00/2011
3100 Sequenced: 00/00/2011
3300 Scheduled For Production:0/0/2012
3400 Broadcast: 0/0/2012
3800 Produced: 0/0/2012
4000 Available To Ship: 0/0/2012
4200 Shipped: 0/0/2012
5000 Delivered To The Dealer: 0/0/2012
6000 Delivered To Customer:0/0/2012
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Old 10-12-2011, 03:49 PM   #5
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http://auto.ally.com/payment-calculator/#tabs=price
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2012 Camaro ZL1 Car Name: Bruce
ZL1, LSA, MN6/MG9, DSX, RTQ, VR,
Current Status:
2030
1000 Initial Order 11/11/2011 Chevyland
1100 Order accepted at dealer: 11/11/2011 - PZSD7S
2000 Order accepted by GM: 12/14/2011
3000 Accepted By Production Control: 00/00/2011 - TPW 00/00/2011
3100 Sequenced: 00/00/2011
3300 Scheduled For Production:0/0/2012
3400 Broadcast: 0/0/2012
3800 Produced: 0/0/2012
4000 Available To Ship: 0/0/2012
4200 Shipped: 0/0/2012
5000 Delivered To The Dealer: 0/0/2012
6000 Delivered To Customer:0/0/2012
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Old 10-12-2011, 03:52 PM   #6
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Selling/trading in my 2010 SS, hopefully finance 30K at 2.75% about $500/month for 60 months...
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Old 10-12-2011, 03:52 PM   #7
1BADZL1
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just an example...
if this car is $60,000 (which i highly doubt)
apr 3% (mine will be higher)
6 years of financing
is $531.78
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2012 Camaro ZL1 Car Name: Bruce
ZL1, LSA, MN6/MG9, DSX, RTQ, VR,
Current Status:
2030
1000 Initial Order 11/11/2011 Chevyland
1100 Order accepted at dealer: 11/11/2011 - PZSD7S
2000 Order accepted by GM: 12/14/2011
3000 Accepted By Production Control: 00/00/2011 - TPW 00/00/2011
3100 Sequenced: 00/00/2011
3300 Scheduled For Production:0/0/2012
3400 Broadcast: 0/0/2012
3800 Produced: 0/0/2012
4000 Available To Ship: 0/0/2012
4200 Shipped: 0/0/2012
5000 Delivered To The Dealer: 0/0/2012
6000 Delivered To Customer:0/0/2012
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Old 10-12-2011, 03:53 PM   #8
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I plan to finance about half.

OT, but speaking of financing with GM, does anyone know if they allow you to reduce insurance coverage (collision) while you store a car during the winter (typically 5 months)? That's something I'll have to investigate as I've heard some lenders don't allow that and was hoping some of you guys had experience or knowledge of that.
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Old 10-12-2011, 03:59 PM   #9
1BADZL1
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Question

Quote:
Originally Posted by MY68RS View Post
just an example...
if this car is $60,000 (which i highly doubt)
apr 3% (mine will be higher)
6 years of financing
is $531.78
On the high end of it
If the car was $51,000
apr 9%
6 year term
16,000 down
would be $630..

The latter would probably make me have to hold out till 2013
where I could beef up my down payment more and work on getting my interest rate down more. I do not see myself diving into a $630 payment for 6 years.... That number will have to come down significantly..
But I am not worried. It will come when the time is right.
That is just the way faith is....
One other thing...
Are you guys planning on GMAC financing?
or private bank, etc?
__________________
2012 Camaro ZL1 Car Name: Bruce
ZL1, LSA, MN6/MG9, DSX, RTQ, VR,
Current Status:
2030
1000 Initial Order 11/11/2011 Chevyland
1100 Order accepted at dealer: 11/11/2011 - PZSD7S
2000 Order accepted by GM: 12/14/2011
3000 Accepted By Production Control: 00/00/2011 - TPW 00/00/2011
3100 Sequenced: 00/00/2011
3300 Scheduled For Production:0/0/2012
3400 Broadcast: 0/0/2012
3800 Produced: 0/0/2012
4000 Available To Ship: 0/0/2012
4200 Shipped: 0/0/2012
5000 Delivered To The Dealer: 0/0/2012
6000 Delivered To Customer:0/0/2012
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Old 10-12-2011, 04:01 PM   #10
1BADZL1
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Wink

Quote:
Originally Posted by Shurenuff View Post
I plan to finance about half.

OT, but speaking of financing with GM, does anyone know if they allow you to reduce insurance coverage (collision) while you store a car during the winter (typically 5 months)? That's something I'll have to investigate as I've heard some lenders don't allow that and was hoping some of you guys had experience or knowledge of that.
I am sure others can speak out on this but my thought is anytime someone carries a car note they generally want FULL COMPLETE coverage at ALL times with maybe the exception of Guaranteed Auto Protection perhaps.
__________________
2012 Camaro ZL1 Car Name: Bruce
ZL1, LSA, MN6/MG9, DSX, RTQ, VR,
Current Status:
2030
1000 Initial Order 11/11/2011 Chevyland
1100 Order accepted at dealer: 11/11/2011 - PZSD7S
2000 Order accepted by GM: 12/14/2011
3000 Accepted By Production Control: 00/00/2011 - TPW 00/00/2011
3100 Sequenced: 00/00/2011
3300 Scheduled For Production:0/0/2012
3400 Broadcast: 0/0/2012
3800 Produced: 0/0/2012
4000 Available To Ship: 0/0/2012
4200 Shipped: 0/0/2012
5000 Delivered To The Dealer: 0/0/2012
6000 Delivered To Customer:0/0/2012
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Old 10-12-2011, 04:08 PM   #11
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Quote:
Originally Posted by Z4me View Post
As much as I can, or as much as my wife will allow me to. The rest will
be taken out from my home equity, which will be alot lower then through
GM I'm thinking. So basically cash to the dealer all at once.

So your going to be financing a car on a house note? Like a 15 or 30 year note?
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Yeah, I'll get around to it...
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Old 10-12-2011, 04:10 PM   #12
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Cash Is King
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Old 10-12-2011, 04:22 PM   #13
Shurenuff

 
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Quote:
Originally Posted by MY68RS View Post
I am sure others can speak out on this but my thought is anytime someone carries a car note they generally want FULL COMPLETE coverage at ALL times with maybe the exception of Guaranteed Auto Protection perhaps.

Yeah, I have to research this. I've been told by some that certain lenders allow you to take off collision, and thus significantly reducing the monthly premium, when the car is in storage. Of course, theft, etc coverage would have to remain at all times during the duration of the loan.

Don't know how true it is, but for someone in my situation who will only drive the car for about 7 months out of the year, it's definitely worth looking into.
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Old 10-12-2011, 04:29 PM   #14
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The plan is 20K down but it will really depend on the price.
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