I need you guys & gals opinion! First time car buyer here.

[bumblebee123]

So I was at the verge of driving my car away from the dealer ship. I spoke to a gorgeous woman that handles the payment. (Forgot her job description) I left the dealership still thinking very hard if I should get it or not. The only thing that's stopping me is my family, (mom,dad,sis) will be buying a house next year. And if I get this Camaro, I'll be pretty useless on the monthly of the house. But I just need to get your opinion..


So guys. What do you think?

692$/mo for 72 months & that's w/ 5% interest rate. plus 355$/mo for insurance? That's with 6000 down payment.

so that's $49824.00 plus 6000$ = 55824.00
Actual amount of the car is 47196.00
Money lost on interest is 8628.00

Does this look OK?!

[camarosscrazy]

How old are you? Your insurance is crazy high!!!

[wullger]

What are the amounts in USD? Based on your location I'm gonna assume you quoted CDN prices.

[SilverIce1]

I think you are absolutely crazy, unless you take home $4K or more per month.

Financing longer than 48 months on any car is a bad plan.

But, hey, it's a Camaro so that is bound to make any sane person at least a little crazy!

[bumblebee123]

I'm 23 yrs old. And living in Vancouver, B.C. And those ARE NOT QUOTES. Those are exact prices.

[bumblebee123]

Originally Posted by camarosscrazy

How old are you? Your insurance is crazy high!!!

Yep. 23 yrs old. I hate the insurance in our place.

[camarosscrazy]

Oh my bad tottally missed your location sorry man and ya I would have to say those are outragous insurance prices.

[wullger]

Didnt say they were quotes. I said you probably quoted us prices in CDN. To the bulk of us that reside in the US, those numbers will seem way out of whack

Edit: Looks like one Canadian dollar = ~90 cents USD at the moment.

Those numbers are wayyy too high. You must've added every possible option to the car. Can you actually afford those payments?

[bumblebee123]

Originally Posted by wullger

Didnt say they were quotes. I said you probably quoted us prices in CDN. To the bulk of us that reside in the US, those numbers will seem way out of whack

Edit: Looks like one Canadian dollar = ~90 cents USD at the moment.

Those numbers are wayyy too high. You must've added every possible option to the car. Can you actually afford those payments?

Sorry about that. Its a 1SS w/ polished 20' rims, Boston Soundsystem and being it automatic I also had to add $1000 for that. That's pretty much what I have.

[wullger]

Are they selling it at MSRP? The numbers still seem so high. Or, are there some large taxes involved?

I'm not from Canada so I know nothing about purchasing a car there You might ask for this to be moved to the Canadian regional area sub-forum so that you can get more local help.

[bumblebee123]

Originally Posted by wullger

Are they selling it at MSRP? The numbers still seem so high. Or, are there some large taxes involved?

I'm not from Canada so I know nothing about purchasing a car there You might ask for this to be moved to the Canadian regional area sub-forum so that you can get more local help.

Nope. Actual car is 41040.00 plus 15% tax will be 47196$.

[rickerda]

No, That is too much money. Wait until the prices come down or look for a used Camaro in a year or two. You'll enjoy it more when it's not a burden.

[gred04]

I assume this is a loaded SS? I didnt think you could spec a car to 47k.

Personally 1k a month for payment and insurance would scare me but that is just my opinion. Each person needs to decide how much they value the car.

I seem to recall that general budgeting guidelines indicate that total transporation costs shouldnt exceed 15% of your take home and that includes payment, insurance, maintenance and gas.

I think this is based on households so if you are not a homeowner you would have a lot more flexibility in what you decide to spend on a car.

Best of luck in whatever you choose.

[wullger]

Originally Posted by bumblebee123

Nope. Actual car is 41040.00 plus 15% tax will be 47196$.

Holy CRAP. No wonder the price is so high.

Makes Texas' 6.25% look like a steal by comparison.

[SirBrad]

With 15% tax you think there would be more Canadians trying to sneak into the US than Mexican's.

Sorry if I offend anyone.

[FEVER]

They probably have government supplied healthcare.

[TongnarSS]

thats all bad

first off the overall price out the door is WAY over what i would consider paying for a 1ss, even with options...
your insurance rate is 5 times the amount i pay so that is also all bad..
the only thing here i see that might be "ok" is your first time car buyer interest rate. my first car loan i paid 10.4 %

not sure how this translates in Canadian coin but in the US i would say RUN and don't look back

[djsnoflake]

Man, your prices still seem out of whack. What did you get exactly? Sunroof? RS package? etc etc.

I got a 2ss/rs package, with body kit (no sunroof) and also added the Hurst to my invoice for collectability purposes and I came in at $51,000 with taxes in.

Other than that, you should see if your bank can get you a better rate. Well depending on your credit or not.

Also one thing to consider is are you gonna drive it year round? You could save some money on insurance if you park it for the snowy season.

[C5RocksC5]

geez. Not trying to rain on your parade but $1,000/month for a car note??!!?? That is fine if you can afford it but apparently you can't because you are worried about your share of a house payment which you know you will not be able to afford if you get the car...but I guess it is okay for everyone else to foot the bill as long as you drive in a nice car?

$1K/month for a car that is a long stretch to afford but you get it anyway....and that may be ok for the first few months when you think you have the coolest car on the block but a in a few months 2010 Camaro's aren't such rare sightings anymore and your car doesn't look as good as when it first came out of dealer's lot, trust me, the $1k/month is going to be very very very heavy.

But I wish you the best of luck whatever you decide.

[bumblebee123]

Wow. Thanks for the negative responses. I'm really thinking not getting it now. I thought it was pretty good though. You guys wouldnt believe me if I tell you the whole story on how it started. How much do you guys pay anyways?

[bumblebee123]

by the way guys, these numbers are CANADIAN PRICES, just to make sure nobody's confused.

[C5RocksC5]

Originally Posted by bumblebee123

Wow. Thanks for the negative responses. I'm really thinking not getting it now. I thought it was pretty good though. You guys wouldnt believe me if I tell you the whole story on how it started. How much do you guys pay anyways?

sorry about that but you asked and this is a public forum.

How much I paid for my 2SS/RS? A price I can afford. That is all that matters, seriously.
Someone here will soon tell you...."If you have the ask, You can't afford it."

You sound like futurebumblebeeowner is that you dude?

[bumblebee123]

Originally Posted by pdari

sorry about that but you asked and this is a public forum.

How much I paid for my 2SS/RS? A price I can afford. That is all that matters, seriously.
Someone here will soon tell you...."If you have the ask, You can't afford it."

You sound like futurebumblebeeowner is that you dude?

Technically, I CAN afford it but I hate losing a lot of money. And I wasn't trying to be sarcastic. I pretty much need to hear all those negative response to stop me from buying it.

[GaryTucker]

You will lose money on ANY car you buy...even if you pay cash...its called depreciation and every car has it.

Please don't get yourself in over your head, you may want to buy a house in the near future and that car will probably keep you from doing it!

[mmollo]

Originally Posted by bumblebee123

So I was at the verge of driving my car away from the dealer ship. I spoke to a gorgeous woman that handles the payment. (Forgot her job description) I left the dealership still thinking very hard if I should get it or not. The only thing that's stopping me is my family, (mom,dad,sis) will be buying a house next year. And if I get this Camaro, I'll be pretty useless on the monthly of the house. But I just need to get your opinion..


So guys. What do you think?

692$/mo for 72 months & that's w/ 5% interest rate. plus 355$/mo for insurance? That's with 6000 down payment.

so that's $49824.00 plus 6000$ = 55824.00
Actual amount of the car is 47196.00
Money lost on interest is 8628.00

Does this look OK?!

People who can afford a $1,000 a month payment pay cash. If I were you, I would wait a year or two. You will loose 90% of the enjoyment when you have to cut that check every month. I did something similar to what your thinking as soon as I graduated college 20 years ago. Now I can laugh about how stupid I was.