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


Reply
 
Thread Tools
Old 05-10-2009, 10:42 AM   #1
War Eagle
 
War Eagle's Avatar
 
Drives: 1969 Chevelle, Avanti, 2010 GT500
Join Date: Dec 2008
Location: Florida
Posts: 179
Think before you sign....The $10,000 Mistake

Guys,

I am posting this information that you should already know but may help some of you from getting upside down on your Camaro deals.

I have posted the invoice and MSRP of a 2SS Camaro with RS package so you can see what these cars will be worth by year end.

By late fall and before Christmas these cars will be selling for invoice plus $500 and used ones will be selling below original invoice.

If you can wait a couple of months you will be able to buy a brand new 2SS with RS package for Invoice plus $500 for a total of $34,300. You will be able to pick up the same car used for around $32,000 to $33,000.
If you are signing for a loan on a similar car you can see how badly upside down you will be based on your loan amount and the projected value of $32,000 retail (not wholesale).

I have been thru a few of these boom and bust times on new model releases and just wanted to save a few people from some heartbreak later on. I know of people right now that wish they could go back and do it over on their Shelby GT500 purchase. Some of them owe way more than what the cars are worth and need to sell due to hardship.

Also if you happen to encounter financial problems or lose your job you will not be able to sell the car because you will owe more than it is worth.

Think before you sign,

War Eagle
__________________

Back in a Chevelle after 41 years.

Last edited by War Eagle; 06-03-2009 at 08:08 AM.
War Eagle is offline   Reply With Quote
Old 05-10-2009, 10:48 AM   #2
detroitboy
Pinholic
 
detroitboy's Avatar
 
Drives: 11 Silverado, 08 Shelby GT500 Conv.
Join Date: Nov 2008
Location: Macomb, Mi
Posts: 698
You are so correct. I am now so glad I did'nt buy my GT500 when they first came out as I originally wanted to. The guy I just bought mine from took a $20,000 hit on it ! It certainly worked out for me though. Buying lightly used is the only way to go if you can find a car thats perfect enough. And I'd call less than 600 miles on it "perfect"...
__________________
Almost had a 2SS/RS, IOM, orange accent interior, 6 speed manual, sunroof & polished wheels

ordered 01/19/07
3000 - 2/27/09
3400 - 3/27/09
3800 - 4/17/09 (built and lost in the vortex)
ship date ??????? (I gave up and got a GT500)
5/11/09 - order cancelled
5/27/09 - vehicle arrived at dealership for whoever bought it after me
detroitboy is offline   Reply With Quote
Old 05-10-2009, 10:51 AM   #3
War Eagle
 
War Eagle's Avatar
 
Drives: 1969 Chevelle, Avanti, 2010 GT500
Join Date: Dec 2008
Location: Florida
Posts: 179
Quote:
Originally Posted by detroitboy View Post
You are so correct. I am now so glad I did'nt buy my GT500 when they first came out as I originally wanted to. The guy I just bought mine from took a $20,000 hit on it ! It certainly worked out for me though. Buying lightly used is the only way to go if you can find a car thats perfect enough. And I'd call less than 600 miles on it "perfect"...
Roger that, I paid invoice $43,012 for my new 2009 GT500 in December 2008 and have a friend that wrote a check for $73,000 including sales tax on a 2007 GT500 convertible when they first came out.

Steve
__________________

Back in a Chevelle after 41 years.
War Eagle is offline   Reply With Quote
Old 05-10-2009, 11:02 AM   #4
Xmicro_SS
Thank You GM
 
Xmicro_SS's Avatar
 
Drives: Sky Redline & Camaro 2SS/RS
Join Date: Mar 2009
Location: Las Vegas, NV
Posts: 2,877
If you loose you job and you cannot get another one, I am sure most people would be more worried about their mortgage, let the bank take the car.......it becomes their problem.

In these times you cannot worry about these things otherwise you further slow the economy. With the mortgage's the way they are (especially if you bought in the past 6 years), you have a bigger problem when you go to sell your supposed "appreciating asset", why should an auto be any different. Plus Auto's are depreciating assets anyway. If you can afford to by it right now, and your job "appears" stabile you go for it, otherwise you wait.

The dealers are only making about $1200 on an SS, give or take, so you are saving $700 to get the car in the winter or next year........Maybe ok for southerners but not us northerners, we want our cars yesterday.

And do not forget you have the Supply and Demand Issue. If the demand is still hot and heavy at the end of the year, your $500 above invoice is out the window. Once these cars hit the road, the people that still never even knew it was coming out will be a new crop of buyers.

BUT A GOOD LESSON FOR ANYONE WILLING TO GO ABOVE STICKER ON ANY CAR, ANY TIME!!!
__________________
ITS HERE! : 2010 Camaro 2SS / 6 Speed Manual (No other way) / Silver Ice Metallic / Inferno Orange Interior Accent / RS Package / Polished Wheels / SOLO MACH X CAT BACK
Xmicro_SS is offline   Reply With Quote
Old 05-10-2009, 11:10 AM   #5
War Eagle
 
War Eagle's Avatar
 
Drives: 1969 Chevelle, Avanti, 2010 GT500
Join Date: Dec 2008
Location: Florida
Posts: 179
"Quote
The dealers are only making about $1200 on an SS, give or take, so you are saving $700 to get the car in the winter or next year........Maybe ok for southerners but not us northerners, we want our cars yesterday."

The Dealer will make around $2,800 when he sales the 2SS in my example for $500 over invoice not counting any additional GM Dealear incentives that may come up by year end. You also have to add in the Dealer Doc fees which run anywhere from $75 to $700.
__________________

Back in a Chevelle after 41 years.
War Eagle is offline   Reply With Quote
Old 05-10-2009, 11:24 AM   #6
Xmicro_SS
Thank You GM
 
Xmicro_SS's Avatar
 
Drives: Sky Redline & Camaro 2SS/RS
Join Date: Mar 2009
Location: Las Vegas, NV
Posts: 2,877
Quote:
Originally Posted by War Eagle View Post
"Quote
The dealers are only making about $1200 on an SS, give or take, so you are saving $700 to get the car in the winter or next year........Maybe ok for southerners but not us northerners, we want our cars yesterday."

The Dealer will make around $2,800 when he sales the 2SS in my example for $500 over invoice not counting any additional GM Dealear incentives that may come up by year end. You also have to add in the Dealer Doc fees which run anywhere from $75 to $700.
ON the base car, it shows $1500, but I am not sure how accurate that number is. I do not know where you care getting $2800. Invoice is the dealers price.

Either way you missed my point. The Supply and Demand will drive the price. You are assuming supply will be up and demand will be down, good luck with that assumption. And if you are buying a fun car, most people do not care, it is not a financial move it is a passion driven purchase.

Cars are ALWAYS a depreciating asset unless by some miracle it becomes a classic. But in my opinion with all the plastics and rubber they use today, no cars will last for 20-30 years without half the car looking like crap. Have you ever seen a plastic headlight cover after 8 years, they turn all frosty and the bumpers paint cracks.
__________________
ITS HERE! : 2010 Camaro 2SS / 6 Speed Manual (No other way) / Silver Ice Metallic / Inferno Orange Interior Accent / RS Package / Polished Wheels / SOLO MACH X CAT BACK
Xmicro_SS is offline   Reply With Quote
Old 05-10-2009, 11:57 AM   #7
War Eagle
 
War Eagle's Avatar
 
Drives: 1969 Chevelle, Avanti, 2010 GT500
Join Date: Dec 2008
Location: Florida
Posts: 179
The profit margin would run from $1,400 on a straight cash sale with $75 doc fee to up to $2,800 with an inflated doc fee, dealer prep and commission on loan if the deal is financed. The invoice is not what the dealer pays you have to look at the "real" invoice not the one they show you.
__________________

Back in a Chevelle after 41 years.
War Eagle is offline   Reply With Quote
Old 05-10-2009, 01:48 PM   #8
tones2SS


 
tones2SS's Avatar
 
Drives: '13 Roush S3 '16 Ram Sport 4X4
Join Date: Apr 2009
Location: Massachusetts
Posts: 2,912
Thumbs up

That is partial the reason I am waiting.
The other reason is, I want all the "bugs" or "fixes" to be iron out by GM before I place an order.
tones2SS is offline   Reply With Quote
Old 05-10-2009, 01:55 PM   #9
ControlFreak
 
ControlFreak's Avatar
 
Drives: Silverado
Join Date: May 2009
Location: Washington State
Posts: 21
No matter what...

You will get a better deal if you wait, theres just no question. How much are they making now off these cars who knows, if you gotta be the first on the block your gonna pay and you should know that. You wanna save some dough and don't care about being first that's the way to go.
ControlFreak is offline   Reply With Quote
Old 05-10-2009, 02:10 PM   #10
EllwynX


 
EllwynX's Avatar
 
Drives: 2010 Camaro SS
Join Date: May 2006
Location: Southern NJ
Posts: 2,260
Being upside down is also dependent on how much you put down.

With $16,000 down I doubt I'll be upside down anytime soon.
__________________
1100 = Preliminary Order: 10/19/2008
2000 = Accepted By GM: ????
2500 = Preferenced: ?????
3000 = Accepted By Production Control:03/31/2009 (or shortly before)
3100 = Sequenced: ????
3300 = Scheduled For Production: 04/18/2009
3400 = Broadcast: 04/28/2009
3800 = Produced: 05/05/09 VIN#7607
4150 = Invoiced: 05/15/09 (dealer received)
4200 = Shipped: 05/05/09 (according to the dealer)
5000 = Delivered To Dealer: 05/26/09
6000 = Delivered To Customer: 05/26/09
EllwynX is offline   Reply With Quote
Old 05-10-2009, 02:12 PM   #11
Chevyrocker
Weekend Rockstar
 
Chevyrocker's Avatar
 
Drives: Depends on the day...
Join Date: Mar 2008
Location: West Palm Beach
Posts: 1,444
Quote:
Originally Posted by War Eagle View Post
The profit margin would run from $1,400 on a straight cash sale with $75 doc fee to up to $2,800 with an inflated doc fee, dealer prep and commission on loan if the deal is financed. The invoice is not what the dealer pays you have to look at the "real" invoice not the one they show you.




The one we show you is the "real" invoice. Invoice is invoice, no matter how you look at it. If you're attempting to reference "hold back", then call it that. Hold back is something the dealer principle gets as a kick back from GM for selling the car and most dealers believe that you as a customer are not entitled to it. GM believes the same and that's why it is the way it is. Here's the real profit a dealer makes on an MSRP deal...

MSRP: $35,185 (for this example)
Invoice: $34,235.25

The dealer makes:
$949.75 profit from invoice to MSRP
Hold back: $1,568.50
LMA: $343.70

They then pay commision to the sales guy: $250.00
Commission to the finance guy: $100.00 (just a round number)
Commission to the floor managers: $85.86 (assuming 3% of total gross)
The LMA money goes back into advertising: -$343.70

So the total gross profit to the dealership is $2,082.39 but $1,568.50 comes to the dealer for keeping their doors open in a quarterly bonus, so on the books, it's only $513.89 for the sale.
__________________
Shortcuts can slow you down...
Chevyrocker is offline   Reply With Quote
Old 05-10-2009, 02:18 PM   #12
latemodel3
 
latemodel3's Avatar
 
Drives: 2010 camaro rs/ss
Join Date: Mar 2009
Location: ma
Posts: 79
i'm getting mine for close to invoice so i'm happy.
__________________
2010 camaro 2ss/rs m6 inferno orange custom black stripes orange int.bmr 1.0 drop springs xs stainless 1-7/8 headers and 3" catless exhaust lsr sway bars bmr trailing arms /toe rods bmr diff bushings /craddle inserts black whipple 3.75"pulley ID injectors lpe twin pump jre rough idle blower cam rx catch can and cai intake w/ scoop sct tuner from jre 690rwhp/588rwtq on 93 octane
latemodel3 is offline   Reply With Quote
Old 05-10-2009, 02:53 PM   #13
ralyrat
 
ralyrat's Avatar
 
Drives: RS/SS Vector Tuned Kooks Roto
Join Date: Dec 2008
Location: Passing you...
Posts: 87
What's with all the Ford owners on this site. Upside down or not, they must be getting ready to dump those Fords!
ralyrat is offline   Reply With Quote
Old 05-10-2009, 03:10 PM   #14
War Eagle
 
War Eagle's Avatar
 
Drives: 1969 Chevelle, Avanti, 2010 GT500
Join Date: Dec 2008
Location: Florida
Posts: 179
Quote:
Originally Posted by ralyrat View Post
What's with all the Ford owners on this site. Upside down or not, they must be getting ready to dump those Fords!
I am getting ready to buy a 2010 GT 500 and a 2SS Camaro later this year. I like a lot of different Muscle cars and haved owned different brands at the same time. I have never been one of thoes either Chevy or Ford Guys.
__________________

Back in a Chevelle after 41 years.
War Eagle 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
Sign up for your GM CREDIT UNION DISCOUNT! CamaroScotty Camaro Price | Ordering | Tracking | Dealers Discussions 48 04-29-2009 11:06 PM
For the Gamers: Quakelive open beta, sign up for free! diddiyo Off-topic Discussions 2 02-26-2009 01:40 PM
How to hack an electronic road sign diddiyo General Automotive + Other Cars Discussion 10 02-05-2009 07:53 PM
Any My Own Worst Enemy fans? Sign the Petition!!! Black5thgen Off-topic Discussions 39 12-16-2008 01:36 PM
its a sign Nexus6 5th Gen Camaro SS LS LT General Discussions 7 07-21-2008 12:27 PM


All times are GMT -5. The time now is 05:29 AM.


Powered by vBulletin® Version 3.8.9 Beta 4
Copyright ©2000 - 2016, vBulletin Solutions, Inc.