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Old 09-20-2012, 11:39 PM   #1
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Well I'm pretty depressed

So my Uncle told me since I drive him around so much he would help me get a zl1. After looking for weeks i found one that was MSRP. Went and started it up and fell in love. We went to get approved for the loan and when they ran his credit, we got turned down. turns out his ex wife ran up a 20,000 dollar bill in his name. I'm not getting a camaro for awhile its safe to say :(
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Old 09-20-2012, 11:43 PM   #2
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Cosigning a loan or having someone cosign a loan or you is a VERY bad idea. If you can't get it on your own, wait and save some more money.

Besides, if rumors are to be believed, the next gen Camaro will be lighter and with a DI engine.
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Old 09-20-2012, 11:47 PM   #3
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Cosigning a loan or having someone cosign a loan or you is a VERY bad idea. If you can't get it on your own, wait and save some more money.

Besides, if rumors are to be believed, the next gen Camaro will be lighter and with a DI engine.
No he would be putting it in his name. I'm young with no credit ha I run him around because he no longer has his license. I hope so i will be able to buy one myself in a a year or so.
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Old 09-21-2012, 08:27 AM   #4
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Putting aside the fact a lack of credit history is reason enough to wait, have you spoken to your insurance agent? I can't imagine what full coverage on a ZL1 would be for male under 25.
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Old 09-21-2012, 09:30 AM   #5
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poor kid, nobody to buy you a ZL1
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Yeah, I'll get around to it...
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Old 09-21-2012, 09:39 AM   #6
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Don't be depressed. It may be a blessing in disguise. The cost of ownership of a ZL1 is substantial. As a daily driver you might spend $4k a year in gas and $2k a year on tires and other consumables. Add to that insurance and payments and you'll find your car costs more then what most people pay on a mortgage.
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Old 09-21-2012, 09:39 AM   #7
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I realize you want a ZL1, but I just turned 49 and a ZL1 is still a stretch when you have day to day living expenses, saving for retirement, mortgage, etc. Unless you have a great job or a lot of money saved up, it's not easy to purchase a $60k car for most foks. It wouldn't be a lot easier to purchase a V6 Camaro, or a 1SS at half the price.
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Old 09-21-2012, 09:41 AM   #8
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poor kid, nobody to buy you a ZL1

^^^^ exactly
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Old 09-21-2012, 09:43 AM   #9
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If you're young with no credit, why not go with a V6?

I'm young and I have credit, however being financially responsible means a preowned V6 was my best option, so I went with that and I'm perfectly happy with my ride.
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Old 09-21-2012, 09:43 AM   #10
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poor kid, nobody to buy you a ZL1
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Old 09-21-2012, 10:05 AM   #11
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poor kid, nobody to buy you a ZL1
Yea, I feel horrible too.
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Old 09-21-2012, 10:11 AM   #12
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I told you that the credit would be the hardest part about getting the Z. You may have the income coming from multiple places, but if you dont have good or great credit when you walk on the lot dont expect to get the Z unless you put down 50k or the whole 60k. Go with the preowned 1ss or 2ss and pay it off then once its paid off mod it to be a Z like some other C5 members. Be easy on the young guy, guys. We all have those dream cars when coming up. Keep your head up and get any other camaro other than the Z since its way out of reach or wait another 2 years for the 2015-2016 model.
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Old 09-21-2012, 10:16 AM   #13
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Lease a Volt.
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Old 09-21-2012, 10:32 AM   #14
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I had a similar issue getting approved for the car I wanted a Transformers Edition. I had no credit whatsoever.

Ironically enough the car still cost 38k out the door used with the Gap Insurance and tax. 30k Sticker 13k Miles. I didn't get the car I wanted but I still got a nice V8 Camaro wrong color though

My income will have doubled next year and I am going to have all 30k of the loan paid off within a year.

Hopefully paying down a car within a year like that in addition to my income increasing so heavily will allow me the ability to put a little under half down on a ZL1 or something comparable.

If not I will wait another year for a bonus check and just get a Z06 or GTR probably.
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Old 09-21-2012, 11:00 AM   #15
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Now this is just my opinion, and what I would do if I were in your position. I would start looking at GTIs, GLIs, Mazaspeed 3's etc, something that's respectable and still packing the punch at the performance level. Plus who doesn't like gas mileage? You can go the V6 way, but me personally I would never own a V6 muscle car. Everybody's different though, I wish you luck.
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Old 09-21-2012, 11:47 AM   #16
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Quote:
Originally Posted by justa25thTA View Post
poor kid, nobody to buy you a ZL1
is this website to say pick on people like this to people that are fortunate or for the love of the car? You wouldnt turn down a zl1 if somebody offered to would you? In a year I'll be able to pay it off in cash but until then he would make the payments for me.
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Old 09-21-2012, 11:48 AM   #17
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Putting aside the fact a lack of credit history is reason enough to wait, have you spoken to your insurance agent? I can't imagine what full coverage on a ZL1 would be for male under 25.
Yeah I did it was going to be around 300 a month. Wasnt to bad at all
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Old 09-21-2012, 11:50 AM   #18
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Quote:
Originally Posted by DangerZL1 View Post
I realize you want a ZL1, but I just turned 49 and a ZL1 is still a stretch when you have day to day living expenses, saving for retirement, mortgage, etc. Unless you have a great job or a lot of money saved up, it's not easy to purchase a $60k car for most foks. It wouldn't be a lot easier to purchase a V6 Camaro, or a 1SS at half the price.

I'll probably get a 2ss until next year then get my or whatever chevy has in store for us
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Old 09-21-2012, 11:51 AM   #19
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Quote:
Originally Posted by ZZZ View Post
I had a similar issue getting approved for the car I wanted a Transformers Edition. I had no credit whatsoever.

Ironically enough the car still cost 38k out the door used with the Gap Insurance and tax. 30k Sticker 13k Miles. I didn't get the car I wanted but I still got a nice V8 Camaro wrong color though

My income will have doubled next year and I am going to have all 30k of the loan paid off within a year.

Hopefully paying down a car within a year like that in addition to my income increasing so heavily will allow me the ability to put a little under half down on a ZL1 or something comparable.

If not I will wait another year for a bonus check and just get a Z06 or GTR probably.

GTR's are bad dude good luck hope you get it!
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Old 09-21-2012, 11:53 AM   #20
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Originally Posted by GrabberB5.Slow View Post
Now this is just my opinion, and what I would do if I were in your position. I would start looking at GTIs, GLIs, Mazaspeed 3's etc, something that's respectable and still packing the punch at the performance level. Plus who doesn't like gas mileage? You can go the V6 way, but me personally I would never own a V6 muscle car. Everybody's different though, I wish you luck.
yeah a v6 muscle car wouldnt settle right with me either haha i have a few options to go over before i pick my car.
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Old 09-21-2012, 11:59 AM   #21
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Quote:
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Yeah I did it was going to be around 300 a month. Wasnt to bad at all


Quote:
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yeah a v6 muscle car wouldnt settle right with me either haha i have a few options to go over before i pick my car.


That's about all I can say. lol
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Old 09-21-2012, 12:06 PM   #22
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Old 09-21-2012, 12:14 PM   #23
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Yeah I did it was going to be around 300 a month. Wasnt to bad at all
That's just for insurance. Then your talking at least another $700-$800 more for the payment and that's dependent of the down payment. I pay $500 a month on my 2010 SS and I put $10K down. I didn't get mine til I retired from the military. That's really cool of your uncle, but that would be taking advantage of him, unless you can swing the payments. Don't ruin the relationship with him. Seems like his ex had already taken advantage. Sounds like you're young. You have plenty of time. Work your way up. It's that much sweeter, when you can buy it yourself. Not trying to bust your bubble bro, just my 2 cents. Good luck!
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Old 09-21-2012, 12:15 PM   #24
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Originally Posted by Number23 View Post
Cosigning a loan or having someone cosign a loan or you is a VERY bad idea. If you can't get it on your own, wait and save some more money.

Besides, if rumors are to be believed, the next gen Camaro will be lighter and with a DI engine.
dude, who cares? why wait for a "lighter camaro"... that's not a big whoop - the only big whoop now would be a new design.

at the zl1's price you can get a much better looking/performing car that you don't see a 20k version of on the road every 5 minutes.
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Old 09-21-2012, 12:38 PM   #25
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Yeah I did it was going to be around 300 a month. Wasnt to bad at all
You are right, that is not bad......it is WORST! I pay my Insurance every six months at $420 ('12 Challenger SRT8) -- If you divide that by six than I am paying $70 a month and I am 25. By the sixth month you are paying $1800! You would be inane to think that $300/month is not bad.

And we are just talking about insurance here....
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