money down - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

DragonCamaro · 03-11-2009, 03:39 AM

I know this has been covered in another thread but i can not seem to find it. But how much are dealers going to want you to put down? I am trying to get as much as possible but just just finally getting a job after college and all i haven't had a chance to save up alot due to trying to pay off school loans faster....lol...any ideas as to how much they might want?

a6pk2go · 03-11-2009, 03:43 AM

Quote:

Originally Posted by DragonCamaro

I know this has been covered in another thread but i can not seem to find it. But how much are dealers going to want you to put down? I am trying to get as much as possible but just just finally getting a job after college and all i haven't had a chance to save up alot due to trying to pay off school loans faster....lol...any ideas as to how much they might want?

It depends on the dealer. I went to Classic in Grapevine Tx and all they required was a $500 refundable deposit.

*TAG UR IT* · 03-11-2009, 04:58 AM

It will vary from dealer to dealer. Just make that that if you put down anything, that you get it in writing that it's not only refundable, but that the money you put down goes toward the sale, etc. Could be 500 and upwards of 2k. Who knows?

CamaroScotty · 03-11-2009, 05:09 AM

$500 refundable, but varies by dealer.

ChevyBoiSS · 03-11-2009, 07:49 AM

they said i needed 10% of the total sale.

CamaroScotty · 03-11-2009, 07:52 AM

Then give me a call on Thursday, if you don't mind waiting and can drive to the Milwaukee area to pick it up.....

live2well · 03-11-2009, 08:41 AM

Are you talking money down to hold a pre-order or money down on the financing? The money down for financing depends on the bank and your credit score along with your ability to pay. Typically 10 -15% down makes the banks comfortable. If you have excellent credit then you can put down less. The worse the credit score, the more the banks want you to put down. The reason is because your a higher risk.

If your referring to the money to hold the pre-order then that varies depending on the dealership? I have heard anything from 0 - $5k.

I hope this helps. :-)

DragonCamaro · 03-11-2009, 10:08 AM

Thanks guys this helps a lot. I have a high credit score so i hope that helps. I am just trying to pull as much money together as I can to make how much i need to get a loan for smaller. I will talk to my dealer and see if i put money down to hold it if it will go towards my down payment, and if so i will get it in writing that it goes towards the down payment.

leatherneck · 03-11-2009, 03:58 PM

so let me get this straight ---10% down on a 40, 000 car --thats 4000 right?--i have 7k to put down maybe more soo i should be safe

Douge · 03-11-2009, 04:38 PM

I am putting 31940 +TTL down with no payments forever.

richardhoggard · 03-12-2009, 12:59 AM

Quote:

Originally Posted by Douge

I am putting 31940 +TTL down with no payments forever.

Must be nice... Wanna buy mine too? Just put it in my name! Thanks!

live2well · 03-12-2009, 08:35 AM

Quote:

Originally Posted by leatherneck

so let me get this straight ---10% down on a 40, 000 car --thats 4000 right?--i have 7k to put down maybe more soo i should be safe

Mr Leatherneck,

It depends on your credit score. Since you a little more than 15% you should be good to go as long as your credit score isn't horribly low.

There are a few philosophies about car purchases. One is to put as little money down as possible so that if you drive off the lot and you total your car right away, you have very little invested in it. The other is to pay as much as you can so that you either have NO payments or very small payments. IMO one should buy the car out right and have no payment. It is not financially sound to carry a debt on a depreciating asset or liability. NO debt is best!!

But we all do what we have to do to get what we want. Cheers

NUCAR · 03-12-2009, 11:08 AM

Quote:

Originally Posted by live2well

Mr Leatherneck,

There are a few philosophies about car purchases. One is to put as little money down as possible so that if you drive off the lot and you total your car right away, you have very little invested in it. Cheers

If you take this route, make SURE you have GAP insurance. You don't want to owe on a car that ain't no mo!

blazzin1 · 03-12-2009, 05:10 PM

Since we're talking about deposits... Does anyone know the truth about refundable vs. non-refundable deposits? I ask because the dealer I ended up going with told me my $1000 deposit was non-refundable. I tried to talk them into a refundable deposit, but they said they would not do any refundable deposits on a new Camaro pre-oreder, in no way, shape, or form. Unfortunately, I needed to get my order placed before the deadline, so I agreed (although nothing in writing about the deposit being refundable or not). The next day I talked to another dealer who told me they cannot do that, and that there was no such thing as a non-refundable deposit. The second dealership told me it was illegal. Seems to me like it would be up to the discretion of the dealer, but it would be nice to know that I could get my money back if something falls through and I figure out that I can't afford this new Camaro after all. Any one know more about this?

03-11-2009, 03:39 AM	#1
DragonCamaro Drives: 2010 2SS/RS IBM Join Date: Dec 2008 Location: Mulvane Posts: 316	money down I know this has been covered in another thread but i can not seem to find it. But how much are dealers going to want you to put down? I am trying to get as much as possible but just just finally getting a job after college and all i haven't had a chance to save up alot due to trying to pay off school loans faster....lol...any ideas as to how much they might want?

03-11-2009, 07:49 AM	#5
ChevyBoiSS Drives: 2011 2SS/RS RJT Join Date: Oct 2008 Location: Chicago, IL Posts: 302	they said i needed 10% of the total sale. __________________ Thinking bout Victory Red 1SS/RS with Matte Black Custom Stripes. Automatic Transmission (L99) and apparently a $900 dollar whole in my roof. OHH.. DID I MENTION 24" off THE GROUND?!

03-11-2009, 08:41 AM	#7
live2well Drives: 2010 VR 2SS/RS A6 Join Date: Oct 2008 Location: Odenton, MD Posts: 688	Are you talking money down to hold a pre-order or money down on the financing? The money down for financing depends on the bank and your credit score along with your ability to pay. Typically 10 -15% down makes the banks comfortable. If you have excellent credit then you can put down less. The worse the credit score, the more the banks want you to put down. The reason is because your a higher risk. If your referring to the money to hold the pre-order then that varies depending on the dealership? I have heard anything from 0 - $5k. I hope this helps. :-) __________________ Intelligence plus character that is the goal of true education. BrianC. :flag2:

03-12-2009, 05:10 PM	#14
blazzin1 Drives: 2010 2SS/RS R6P Join Date: Nov 2008 Location: St. Cloud, FL Posts: 4,845 View My Garage	Speaking of Money Down... Since we're talking about deposits... Does anyone know the truth about refundable vs. non-refundable deposits? I ask because the dealer I ended up going with told me my $1000 deposit was non-refundable. I tried to talk them into a refundable deposit, but they said they would not do any refundable deposits on a new Camaro pre-oreder, in no way, shape, or form. Unfortunately, I needed to get my order placed before the deadline, so I agreed (although nothing in writing about the deposit being refundable or not). The next day I talked to another dealer who told me they cannot do that, and that there was no such thing as a non-refundable deposit. The second dealership told me it was illegal. Seems to me like it would be up to the discretion of the dealer, but it would be nice to know that I could get my money back if something falls through and I figure out that I can't afford this new Camaro after all. Any one know more about this?

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03-11-2009, 04:58 AM	#3
TAG UR IT www.Camaro5store.com Drives: 2014 ZL1 #705 Join Date: Jul 2006 Location: SA, Texas Posts: 26,544 View My Garage	It will vary from dealer to dealer. Just make that that if you put down anything, that you get it in writing that it's not only refundable, but that the money you put down goes toward the sale, etc. Could be 500 and upwards of 2k. Who knows?

03-11-2009, 05:09 AM	#4
CamaroScotty Account Suspended Drives: Your new SLP Camaro! Join Date: Jul 2008 Location: Cedarburg, WI Posts: 6,790	$500 refundable, but varies by dealer.

03-11-2009, 07:52 AM	#6
CamaroScotty Account Suspended Drives: Your new SLP Camaro! Join Date: Jul 2008 Location: Cedarburg, WI Posts: 6,790	Then give me a call on Thursday, if you don't mind waiting and can drive to the Milwaukee area to pick it up.....

03-11-2009, 10:08 AM	#8
DragonCamaro Drives: 2010 2SS/RS IBM Join Date: Dec 2008 Location: Mulvane Posts: 316	Thanks guys this helps a lot. I have a high credit score so i hope that helps. I am just trying to pull as much money together as I can to make how much i need to get a loan for smaller. I will talk to my dealer and see if i put money down to hold it if it will go towards my down payment, and if so i will get it in writing that it goes towards the down payment.

03-11-2009, 03:58 PM	#9
leatherneck Drives: yellow/bl. hood stripes-ss/rs Join Date: Dec 2008 Location: ohio Posts: 247	so let me get this straight ---10% down on a 40, 000 car --thats 4000 right?--i have 7k to put down maybe more soo i should be safe

03-11-2009, 04:38 PM	#10
Douge Eurotrash Connossieur Drives: 1985 Mercedes 500SEL Join Date: Mar 2009 Location: Chandler, AZ Posts: 188	I am putting 31940 +TTL down with no payments forever.