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Old 07-24-2009, 03:48 PM   #1
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Down Payment?

Obviously finances are considered private, but if you choose to share (I understand and respect if you choose not to), but how much is everyone planning/or has already to put down for down payment?
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Old 07-24-2009, 03:53 PM   #2
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Boy is that a loaded question. I don't know how this information could ever help you. That will be from 0 To cash for the whole thing. You have to look at your own finances to figure that out.
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Old 07-24-2009, 04:47 PM   #3
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Well I already know what I'm putting down as a down payment. I'm just curious about others and if there's a specific range in which people are aiming for.
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Old 07-25-2009, 07:56 AM   #4
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I only put down 500.00
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Old 07-25-2009, 09:21 AM   #5
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I put down $3750
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Old 07-25-2009, 10:46 AM   #6
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I have 7000 down and put anywhere from 1000-2000 down every few weeks. i dont wanna have to be paying for it for years to come
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Old 07-25-2009, 10:51 AM   #7
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I only put $3,000 down..

told them to finance the rest or return my money and sell to another person..... so they financed it.
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Old 07-25-2009, 05:46 PM   #8
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planning on $7,500 - $10,000
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Old 07-25-2009, 06:23 PM   #9
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Paid cash
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Old 07-26-2009, 10:11 PM   #10
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planning to put 1000 down
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Old 07-26-2009, 10:31 PM   #11
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nice. i was really just trying to get an idea of what everyone intends to put down. I plan on putting down between 13k and 17k. we'll see how it goes come time of delivery.
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Old 07-27-2009, 12:40 PM   #12
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NEVER pay anything CASH. Why would you pay cash if you could get 5.5 or even 6 percent on a loan and now take your money and put it in a 7 to 7 1/2 percent preferred stock. You will still come out 1 to 1 1/2 percent higher. Of course you need the cash to cover your monthly payments. Example: My AT&T cell phone is 49.95 a month, I bought 300 shares of AT&T which pays .41 per share every 3 month so that comes to .41 X 300 = $123, phone bill is $150 - $126 so it cost me $27 every 3 months thats $9 bucks a month, beat that !!!
Point in case: even if you have 30K for the camaro wouldnt it be better to put down 10K use 10K to pay the yearly loan off and get interest on the last 10K (thats what your gaining) assuming a 3 year loan of course.
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Old 07-27-2009, 12:43 PM   #13
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NEVER pay anything CASH. Why would you pay cash if you could get 5.5 or even 6 percent on a loan and now take your money and put it in a 7 to 7 1/2 percent preferred stock. You will still come out 1 to 1 1/2 percent higher. Of course you need the cash to cover your monthly payments. Example: My AT&T cell phone is 49.95 a month, I bought 300 shares of AT&T which pays .41 per share every 3 month so that comes to .41 X 300 = $123, phone bill is $150 - $126 so it cost me $27 every 3 months thats $9 bucks a month, beat that !!!
How much did you pay for 300 shares of ATT stock and how long ago did you buy it?

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Old 07-27-2009, 12:47 PM   #14
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bought it at 24.50 on July 10 and it pays the dividend on August 3rd. Wont sell the stock even thought its around 25.75 right now. Getting 6.68% dividends, taking my camaro loan at 5.7%, whos the winner??? Use the banks money always if you can get more on yours, ask any accountant.
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Old 07-27-2009, 12:58 PM   #15
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bought it at 24.50 on July 10 and it pays the dividend on August 3rd. Wont sell the stock even thought its around 25.75 right now. Getting 6.68% dividends, taking my camaro loan at 5.7%, whos the winner??? Use the banks money always if you can get more on yours, ask any accountant.
Not that I disagree that it is better to have your money working for you and/or buying stocks, but you spent 7,350. plus commission on that ATT stock. You are tying up almost 7,500. and you are getting 41. a month so it balances out your cell bill? To me that doesn't make sense. You have an annual return of a little more than 6%. There are better deals out there with less risk and more return.

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Old 07-27-2009, 01:00 PM   #16
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We are putting between $8,000 and $10,000.
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Old 07-27-2009, 01:06 PM   #17
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I am going to put down $7500 and save a little for mods.
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Old 07-27-2009, 11:31 PM   #18
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Buby2 has a point actually... why spent your money that you have right now in hand.. its yours already.. Take money from a bank or credit union if they'll loan the amount..

No need to take money away from your pocket right away.
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Old 07-28-2009, 11:06 AM   #19
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Hello CamaroUser, first of all its not the only stock I own, I also have some preferreds paying 7 3/4% which I practically live off of. I have an annual return of 6.68% with AT&T and if the stock goes up (which it already is,) then whats my return? 11.86 right now if I were to sell it, and thats only 1 month of owning it. By giving your money to the car dealer your return is nothing. So tell me about better deals with less risk cause I'm always interested in making money as I am a day trader.
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Old 07-28-2009, 11:28 AM   #20
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I am looking betwee 3k-5.5K. I have a few months before I will even order mine, so I have time to save up money
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Old 07-28-2009, 12:30 PM   #21
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Trade-in was $15,450, paid balance in cash & $1,090 in GM Card earnings, and yes, I considered the investment / leverage implications.
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Old 07-28-2009, 12:34 PM   #22
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Trade-in was $15,450, paid balance in cash, and yes, I considered the investment / leverage implications.
What did you trade in?
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Old 07-28-2009, 12:42 PM   #23
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What did you trade in?
2007 Toyota Camry Hybrid - it was a great car, got ~37 mpg and had 43,000 miles on it in 25 months.

Clearly night & day over the Camaro which I wanted ever since the concept was shown - I had to get the "green" out of my system especially considering the post-consumer issues hybrid have...
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Old 07-28-2009, 12:43 PM   #24
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I will be trading in a 2008 Pontiac GT on my Camaro. Hopefully I get a decent trade in value like you did.
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Old 07-28-2009, 12:50 PM   #25
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I will be trading in a 2008 Pontiac GT on my Camaro. Hopefully I get a decent trade in value like you did.
Check Galves.com http://www.galves.com/gal_consumerinfo.asp as this is the book the Dealers start from... yes you have to pay for a subscription for one day, week, etc but it was worth it for me as I got the Dealer up from $14,000 to $15,450. Make sure you enter your options eg leather, moonroof, nav, etc as the Dealers look at the base price first then only add your options if you press them on it.

Don't bother with NADA, Kelley Bluebook, Edmunds - the Dealers don't use them as they're consumer-based.

In the end its what they think they can get at auction as they typically have the car on their lot for 1-2 weeks to see if they can turn a quick sale. My Dealer put my Camry on their lot at $21,995, then dropped it to $19,995 after a week then sold it to a wholesaler for $17,995... I don't regret the trade-in as I didn't want a private sale hassle and didn't want to use CarMax.

Good luck! Feel free to pm if you have questions.
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