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Old 09-26-2009, 12:53 AM   #1
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Camaro v... life?

This isn't a technical thread. I'm a young guy (just graduated and entered the working world). I'm kind of seeking the advice of those older or more experienced than I.

The issue:
Been eying this car since its inception, but I never once imagined it would cost any more than 28k, as that's what the old Z-28's used to cost. (right?) Don't get me wrong, the car is worth every dime! But, I'm a bit hesitant to jump on in on such a commitment as a heavy car payment for such an extravagant car. In my head buying the v6 is like buying a nice computer and using a dial up modem. I have a very hard time with it.

So here's the deal: I still live at home (remember just out of college w/ no debt), and I can afford SS. How much of a dirtbag am I if I live at home and drive a $31,000 muscle car? Should I be using that money to 'set my life up?'

Any opinions would be valued, there are no wrong answers. Some of you are flat out older than I am and I'm sure many of you look back on past decisions and may have done things differently. Consider me the young boy looking for some manly advice.
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Old 09-26-2009, 01:47 AM   #2
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Do you plan on moving out any time soon?
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Old 09-26-2009, 10:32 AM   #3
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Nothing wrong with living at home for a little while until you can get your bearings straight. Right now you have no dependents on you, so go ahead, buy yourself a nice car, and save for a nice apartment. Make the most of it man, not many people are as lucky as you to not graduate wtih debt.
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Old 09-26-2009, 10:34 AM   #4
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Houses are so ridiculous, you might as well enjoy your youth and get the car and just keep trying to better yourself to make more and more money until you make enough for both. That is what I did.
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Old 09-26-2009, 10:38 AM   #5
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Getting out of your parents basement is your number one priority. After that, a place of your own and the ability to pay all your bills and the ability to put away at least 10% of your earnings away. After that if you got the money, do it. But those things must happen first.
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Old 09-26-2009, 10:39 AM   #6
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im in my second year in college, im getting mine now and plan to pay it off before i graduate. that's the plan at least
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Old 09-26-2009, 01:15 PM   #7
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At the moment I don't plan on moving out as I enjoy saving like 75% of my income. But the car would take a chunk out of that eh?
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Old 09-26-2009, 02:00 PM   #8
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Im in the same situation and I chose the camaro over life lol. 23 years old, I can afford the SS only because I still live at home. The way I think of it is I'm not planning on leaving my house anytime soon but if I decide to then I half to hustle my ass to a better job to make that cash to move out. So think of the camaro as a catalyst to make more money
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Old 09-26-2009, 02:06 PM   #9
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You're only young once. Enjoy it. Get the car and go from there. Keep in mind, you have alot of disposable income. You can save a few months and put down a big downpayment. And you can overpay on your payments as well. If you do those two things, you can always refinance the car if you suddenly need to lower your payments for whatever reason.
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Old 09-26-2009, 03:35 PM   #10
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Quote:
Originally Posted by 1bad65 View Post
You're only young once. Enjoy it. Get the car and go from there. Keep in mind, you have alot of disposable income. You can save a few months and put down a big downpayment. And you can overpay on your payments as well. If you do those two things, you can always refinance the car if you suddenly need to lower your payments for whatever reason.
Does refinancing always rip you off? I've heard its a disaster.
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Old 09-26-2009, 08:26 PM   #11
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Buy the car. If you don't mind telling the girlfriend that you live with your parents.
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Old 09-26-2009, 08:29 PM   #12
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All replies appreciated. Living with parents seems fairly common in this part of NY at my age. I think I'm gonna go with the car. This is likely the easiest time in my life to afford such a thing so frivolously.

Again, all replies are appreciated.
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Old 09-26-2009, 08:47 PM   #13
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There are those in life who are real men, and those who just think they are. Safety and security are your basic heirarchy of needs, but Mom and Dad take care of that for you. If tomorrow they said, "get out." You could always sleep in your car and shower at the gym and do laundry at a laundry mat. If you buy a car you really can't afford while still mooching off them, that doesn't make you a man, it makes you nothing more than a selfish boy who went to college but isn't strong enough to earn it on his own yet. But, the real point I want to make is don't listen to any one on this thread to include myself because in reality, none of us have to live with the consequences of your choices, and honestly none of us really care what happens to you. I hope your decisions in life do get smarter though.
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Old 09-26-2009, 09:55 PM   #14
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Quote:
Originally Posted by vdevine View Post
I hope your decisions in life do get smarter though.
Appreciate your perspective. Never meant to imply owning a camaro makes me or any of you a 100% self sufficient man. Nor was that the goal of the discussion, but you are right, and this is a valid point to be taken seriously.

I hope you don't think I was making my decision of a $30,000+ purchase based on forum posts. I was just trying to get an idea of how it would be looked upon to drive such a car while living at home.

I take it you favor the 'scumbag' answer then. Only a scumbag would buy such a car while still living at home even if it is just because I like saving cash.

Thank you.

Last edited by WhiteCrane; 09-26-2009 at 10:10 PM.
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Old 09-26-2009, 11:10 PM   #15
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im in the same situation as you are .. recently graduated, living home.. planning to get a camaro.. it all depends on what you want man.. im tired of driving my toyota camry and id rather have a nice sports car than my own place..lol
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Old 09-26-2009, 11:26 PM   #16
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Being a father myself I can tell you that I would want my daughter to stay home for at least 3 or 4 year's after high shcool. So I would say if your parent's are cool with it then go for it, just make sure to help out once in a while.
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Old 09-27-2009, 12:45 AM   #17
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Move out and make it on your own before you buy a expensive car. Having that car now might impede your future progress because your life will revolve around having to make that payment and maintaining the car. What if you had a kid next year or if you wanted to move to a different city or state,now's the time to find yourself before you're tied down to GM for 5 or 6 years. Camaros are plentiful and they aren't going anywhere,it'll be there when you're ready.
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Old 09-27-2009, 12:56 AM   #18
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Agree move out then get the car. I'm young and recent grad (1.5 years ago). Hard to feel like a badass and bring a girl home when you have to worry about your parents being there. Be glad you have a way to live and save up a cash "buffer" if an emergency comes up. Use this time to do just that and work on getting your own place. These cars will be around and will only get cheaper.

I worked on securing my cash reserve while paying my own rent/bills as a new grad (fortunately have a significant other who has a good job as well so that helps). Put off a new car for a while as we saved and setup our living situation then recently jumped at the opportunity to pick up an SS when we came across a good deal.

Cliffs: Move out THEN buy car. Get your finances in order before committing yourself to a big car payment, especially right out of school.
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Old 09-27-2009, 01:24 AM   #19
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Quote:
Originally Posted by will69camaro View Post
These cars will be around and will only get cheaper.
Yeah?

Don't want you guys to think I'm a total scumbag... I do work full time, got my college degree, and could support myself.

I'm saving money rather efficiently and honestly I'm more likely to buy a house / co-op in 3-4 years than rent an apartment. For the record I have a good job as an underwriter, and I pay my family some rent. They've never asked but I do want to contribute. I'm not milking my parents.

But I see where you're coming from. I can't be suave with a new car if I'm bringing home girls to my parents house...

Thanks for providing me some outside perspectives. But since I am not even entertaining the idea of moving out for some time now, until I can actually own something rather than rent it (went to school for economics, I want equity), the real dea for me is... how much of a scumbag will I look like having the car and living in mom's basement... Is it that bad?

Quote:
Originally Posted by bonnhew View Post
im in the same situation as you are .. recently graduated, living home.. planning to get a camaro.. it all depends on what you want man.. im tired of driving my toyota camry
It is the most boring car ever made. Albeit reliable and trouble free, that's no excuse.
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Old 09-27-2009, 01:38 AM   #20
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As a parent of a 23 and 19 year old, I'd love for them to still all be living with us but the eldest left home for college at 18 and never moved back in, but I think the 19 yo will be with us for a while in this economy. Having said that, I'd have a hard time if he came home sportin a new Camaro with me footing all the rest of the bills.
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Old 09-27-2009, 08:51 AM   #21
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I would set up my life first.

I left home at 18 (dad said you are 18, time to go) and it was hard but it put life into perspective for me.

I learned to put my money into things that would make me money and then get the toys.

No young man wants to hear that but if you do that you will be on the right track.
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Old 09-27-2009, 11:54 AM   #22
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Yea I know what you mean about buying and having equity. I graduated 2 years ago (I'm 25) and we close on a custom home this tuesday. Set yourself up then worry about the car. As I said it'll only get cheaper. I'm glad you pay your parents rent but moving out and being independent is better than getting a car and living at home. I mean I understand in these economic times as posted above it's more and more common to live at home to "share the expense" but it sounds like you got a good job and CAN move out just aren't.

Take it from someone virtually the same age as you, get a house (save and buy one if that's what you want to do) THEN get the car.
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Old 09-27-2009, 12:19 PM   #23
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What do your parents drive?

Are you out of a car?

No offense, but I'm suprised at how many "kids" are buying these cars. 31k+ isn't cheap. I'm 30, engineer, out of college for a while, home owner, and still was very hesitant to buy. My truck was totalled so it pushed me over the edge.

I think it would be disrespectful to your parents. You say you pay rent, but until your on your own, you don't really know how much it cost to live.
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Old 09-27-2009, 12:37 PM   #24
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I would discuss with your parents regarding the car and living arrangments if you haven't already done so. If all of you agree, thats all that really matters.
Good Luck!

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Old 09-28-2009, 12:12 PM   #25
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I'm not older or more experience than you. But I know exactly what you mean because I'm pretty much in the same boat right now. I would not consider buying a brand new car while living with mom and dad. The 'right' thing to do is to get your own place and then the Camaro. Ultimately, its better to be spending money on a mortgage than payments on a car. I figure that might be a couple years until I can buy my Camaro but so be it.
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