Is NOW the right time to Buy a Camaro? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Susantroy1 · 10-13-2009, 11:02 AM

Been kicking this around for some time and with all the Threads about Insurance rates and financing the new Camaro. I thought I'd add to this to the pot

I'm old enough to remember when I had bought a new 1978 GS 750 Suzuki Bike as my first mode of transportation in the early part of 1979 I took a loan through the base credit union with an interest rate if 14-16%

For those that are old enough and have been following the demise of the US$ lately, You will recognize that if what the economic scholars are saying is true.. then we may be in for some serious hyper inflation as the Government tries to curb inflation by raising interest rates during an economic recovery. With the current Debt load and the sheer quantity of dollars out in circulation, I believe that we are in serious trouble with inflation figures looming much like they where in the late 70s early 80s. With that said.... I believe it just might be the best time to finance a Camaro and avoid possible rising interest rates in the next few years... Of course if you can pay in cash your the minority but Cash is King as they say...

Jim Thompson · 10-13-2009, 11:19 AM

as long as you are comfy in your ability to pay for it..whether that be in cash or with financing...then now is a great time to buy. probably get it faster than normal now that orders are getting caught up with ini most areas.

Banshee · 10-13-2009, 11:22 AM

You are in Florida..

Camaro prices in Florida are INSANE! I had two friends from Florida purchase their Camaros from my salesman here and drop shipped to Garber Chevrolet just outside Miami for MSRP.

Negotiate for MSRP and no more. DO NOT fall for dealer add ons (paint/fabric protection) and do not get the extended warranty there. You can get the same warranty for cheaper..just look and search this site.

I financed through PenFed Credit Union for 3.99% over 60 months.

As well search the threads about insurance. Florida is real high due to "Catastrophic Claims" premiums. If you only drive the Camaro 5-7k a year, insure it as such. Pleasure rate with what you estimate you will drive. If you have a second vehicle, rate that vehicle as primary work/school and have the Camaro rated as "pleasure" and rate shop. I also dumped the towing, rental and any other BS not needed.

I went from Progressive full coverage at $159 a month with an 801 credit score and 0 points on record to $69 a month with State Farm, then increased to $130 in two stages over 4 months because State Farm had to adjust rates due to payouts for catastrophic claims.

I am now with AAA of Michigan and get full towing provided with a $49 membership, 10-20% off air travel, lodging and train travel, along with other benefits. My rates are $59 a month full coverage, 7000 miles a year (car stored 6 months). My Cavalier dropped $300 a year and my house dropped $350 a year with the SAME coverages, and in some instances, better coverage.

Shop around...6-7 hours of shopping rates and phone conversations saved my $1430 a year on my premiums..

And it wasn't by switching to Geico.

Zabo · 10-13-2009, 11:23 AM

x2. But don't expect to be getting deals and whatnot.. there's still incentive for dealers out there to mark them up regardless due to the popularity factor.

And then there are the Dbag dealers that do 'special' stuff to the car just to justify their markups. Sucks but it is what it is.

EMB135Driver · 10-13-2009, 12:15 PM

I'd say that it's not the wrong time to buy, but ultimately the right time for you might be different from someone else. You will get a better deal if you take your time and be patient.....don't get in the position where you need to buy a car, but rather you want to buy a car IF THE DEAL IS A GOOD ONE.

I waited and searched high and low, checking dealer inventories in several states until I happened to find the exact thing I wanted (only 45 miles from my house as luck would have it).....I went and checked out the car, but said I wouldn't think of paying full MSRP...what could we do? I got it for $750 over dealer invoice with financing through GMAC at 4.19% because they didn't want to have a 426HP rear wheel drive car on the lot for a Maine Winter.

The CAMARO market in FL is nuts right now.....many dealers are charging $3000-$5000 over sticker and getting it cause there is a demand.....You might find a reputable dealer, but go into it willing to walk away if the deal isn't to your liking. They have produced over 50000 Camaros now, so it's not like you are in danger of not finding another one if you walk away.

Susantroy1 · 10-13-2009, 12:26 PM

I think I may have misled some folks by my comment

I actually am going through with the purchase. Well as soon as I get the Camaro

Vin Today Viz????

What I meant with the thread was due to the economic conditions as they are, will we be seeing increased interest rates in the near future??(much like those of the late 70s early 80s) and if so in the next 1-2 years?? then buying a new Camaro might be a good time/decision to lock in on low interest rates. Whats your view on the next few years??

or

SlingShot · 10-13-2009, 12:32 PM

Now is a very good time for just about all finance stuff, except for investing ( that's border line because returns are low ) but if your taking out a loan, rate will only go up from here.

BTW... What dealer did you order from?

Susantroy1 · 10-13-2009, 12:38 PM

Quote:

Originally Posted by SlingShot

Now is a very good time for just about all finance stuff, except for investing ( that's border line because returns are low ) but if your taking out a loan, rate will only go up from here.

BTW... What dealer did you order from?

Yea, thats what I'm thinking as well... Could you imagine paying 10-16% interest on a 30k note?? thats a freakin train wreck

I ordered through Ferman Chevrolet in Tarpon @ MSRP hope to have it in by NLT end Nov. TPW 10/5

SlingShot · 10-13-2009, 12:51 PM

Quote:

Originally Posted by Susantroy1

Yea, thats what I'm thinking as well... Could you imagine paying 10-16% interest on a 30k note?? thats a freakin train wreck

I ordered through Ferman Chevrolet in Tarpon @ MSRP hope to have it in by NLT end Nov. TPW 10/5

COOL !!!! Hope you enjoy it .... Haven't gotten my TPW yet, hope to this week ..... I'm guessing 2nd week of November for me... And I ordered from Autoway Clearwater ..

RMGee · 10-13-2009, 12:53 PM

Ok its really simple...two perspectives.

1st: Great time to buy if you're looking to get noticed because later on it will be as common as the stang
2nd: Bad time to buy if your thinking about money because later on it will...well...be cheaper.

Susantroy1 · 10-13-2009, 01:04 PM

Quote:

Originally Posted by RMGee

Ok its really simple...two perspectives.

1st: Great time to buy if you're looking to get noticed because later on it will be as common as the stang
2nd: Bad time to buy if your thinking about money because later on it will...well...be cheaper.

Cheaper as being more common therefore price goes down?? or....Cheaper because they can't move them due to Crappy financing options? Whats your mindset on future interest rates?
The reason why I ask is if they do fall in pricing (which I personally don't see that happening.....INFLATION

) than interest rates would surely gobble those savings up when financing. BTW in my original post I stated I bought a 1978 Suzuki 750. I paid $2,100

I wonder what 750s are going for now??? bet 3-4xs that. Thats the power of inflation

RMGee · 10-13-2009, 01:28 PM

Well im talking about the 2010 model in the sense that later on youll be able to buy it used.
New? You could always wait a little for the hype to settle down, but yeah now is a good time to buy.

SleepWarz · 10-13-2009, 01:46 PM

I always say it with cash.

Susantroy1 · 10-13-2009, 02:17 PM

Quote:

Originally Posted by SleepWarz

I always say it with cash.

cash will always be KING!! unless we go the way of Zimbabwe government economics which as of 2008 had inflation rate at ready for this.... wait...wait...wait... OK 231,150,888.87%

10-13-2009, 11:02 AM	#1
Susantroy1 To All Veterans Drives: 2010 2LT RS Inferno Orange Join Date: Sep 2009 Location: New Port Richey Posts: 471	Is NOW the right time to Buy a Camaro? Been kicking this around for some time and with all the Threads about Insurance rates and financing the new Camaro. I thought I'd add to this to the pot I'm old enough to remember when I had bought a new 1978 GS 750 Suzuki Bike as my first mode of transportation in the early part of 1979 I took a loan through the base credit union with an interest rate if 14-16% For those that are old enough and have been following the demise of the US$ lately, You will recognize that if what the economic scholars are saying is true.. then we may be in for some serious hyper inflation as the Government tries to curb inflation by raising interest rates during an economic recovery. With the current Debt load and the sheer quantity of dollars out in circulation, I believe that we are in serious trouble with inflation figures looming much like they where in the late 70s early 80s. With that said.... I believe it just might be the best time to finance a Camaro and avoid possible rising interest rates in the next few years... Of course if you can pay in cash your the minority but Cash is King as they say...

10-13-2009, 11:22 AM	#3
Banshee Institutionally Insane Drives: 2013 IOM 2SS/RS 1LE Join Date: Feb 2009 Location: Detroit MI Posts: 2,115 View My Garage	You are in Florida.. Camaro prices in Florida are INSANE! I had two friends from Florida purchase their Camaros from my salesman here and drop shipped to Garber Chevrolet just outside Miami for MSRP. Negotiate for MSRP and no more. DO NOT fall for dealer add ons (paint/fabric protection) and do not get the extended warranty there. You can get the same warranty for cheaper..just look and search this site. I financed through PenFed Credit Union for 3.99% over 60 months. As well search the threads about insurance. Florida is real high due to "Catastrophic Claims" premiums. If you only drive the Camaro 5-7k a year, insure it as such. Pleasure rate with what you estimate you will drive. If you have a second vehicle, rate that vehicle as primary work/school and have the Camaro rated as "pleasure" and rate shop. I also dumped the towing, rental and any other BS not needed. I went from Progressive full coverage at $159 a month with an 801 credit score and 0 points on record to $69 a month with State Farm, then increased to $130 in two stages over 4 months because State Farm had to adjust rates due to payouts for catastrophic claims. I am now with AAA of Michigan and get full towing provided with a $49 membership, 10-20% off air travel, lodging and train travel, along with other benefits. My rates are $59 a month full coverage, 7000 miles a year (car stored 6 months). My Cavalier dropped $300 a year and my house dropped $350 a year with the SAME coverages, and in some instances, better coverage. Shop around...6-7 hours of shopping rates and phone conversations saved my $1430 a year on my premiums.. And it wasn't by switching to Geico. __________________ It's got a cop motor, a 440 cubic inch plant, it's got cop tires, cop suspension, cop shocks. It's a model made before catalytic converters so it'll run good on regular gas. What do you say, is it the new Bluesmobile or what?

10-13-2009, 12:15 PM	#5
EMB135Driver Jedi Master Drives: Boeing 757/767+2010 IBM 2SS Join Date: Aug 2008 Location: Bangor, ME and Palm Coast, FL Posts: 1,120	I'd say that it's not the wrong time to buy, but ultimately the right time for you might be different from someone else. You will get a better deal if you take your time and be patient.....don't get in the position where you need to buy a car, but rather you want to buy a car IF THE DEAL IS A GOOD ONE. I waited and searched high and low, checking dealer inventories in several states until I happened to find the exact thing I wanted (only 45 miles from my house as luck would have it).....I went and checked out the car, but said I wouldn't think of paying full MSRP...what could we do? I got it for $750 over dealer invoice with financing through GMAC at 4.19% because they didn't want to have a 426HP rear wheel drive car on the lot for a Maine Winter. The CAMARO market in FL is nuts right now.....many dealers are charging $3000-$5000 over sticker and getting it cause there is a demand.....You might find a reputable dealer, but go into it willing to walk away if the deal isn't to your liking. They have produced over 50000 Camaros now, so it's not like you are in danger of not finding another one if you walk away. __________________

10-13-2009, 12:32 PM	#7
SlingShot Drives: 2012 ZL1 - #670 Join Date: Jun 2009 Location: Seminole, Fl. Posts: 8,009	Now is a very good time for just about all finance stuff, except for investing ( that's border line because returns are low ) but if your taking out a loan, rate will only go up from here. BTW... What dealer did you order from? __________________

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
CAMARO WIKI	Tran	Wiki	67	11-27-2024 09:02 AM
V8 Camaro Performance Upgrades List	Milk 1027	Camaro V8 LS3 / L99 Engine, Exhaust, and Bolt-Ons	93	08-30-2021 06:56 PM
V6 Camaro Performance Upgrades	rtcat600man	Camaro V6 LLT Engine, Exhaust, and Bolt-Ons	387	09-19-2019 07:53 PM
Ambient lighting (ABL) - the FINAL update = LIMITED TO DOOR PANELS	CamaroScotty	5th Gen Camaro SS LS LT General Discussions	338	04-15-2009 06:33 PM

10-13-2009, 11:19 AM	#2
Jim Thompson Thornton Chevrolet Drives: Golf Cart Join Date: May 2009 Location: 10 mins west of Atlanta, GA Posts: 339	as long as you are comfy in your ability to pay for it..whether that be in cash or with financing...then now is a great time to buy. probably get it faster than normal now that orders are getting caught up with ini most areas.

10-13-2009, 11:23 AM	#4
Zabo Gunning for Sixth Drives: '03 ZR2 Blazer Join Date: Sep 2008 Location: Woodhaven, Michigan Posts: 9,358 View My Garage	x2. But don't expect to be getting deals and whatnot.. there's still incentive for dealers out there to mark them up regardless due to the popularity factor. And then there are the Dbag dealers that do 'special' stuff to the car just to justify their markups. Sucks but it is what it is.

10-13-2009, 12:26 PM	#6
Susantroy1 To All Veterans Drives: 2010 2LT RS Inferno Orange Join Date: Sep 2009 Location: New Port Richey Posts: 471	I think I may have misled some folks by my comment I actually am going through with the purchase. Well as soon as I get the Camaro Vin Today Viz???? What I meant with the thread was due to the economic conditions as they are, will we be seeing increased interest rates in the near future??(much like those of the late 70s early 80s) and if so in the next 1-2 years?? then buying a new Camaro might be a good time/decision to lock in on low interest rates. Whats your view on the next few years?? or

10-13-2009, 12:53 PM	#10
RMGee Clap Clap Drives: 2SS/RS LS3 Join Date: Sep 2009 Location: NC Posts: 326	Ok its really simple...two perspectives. 1st: Great time to buy if you're looking to get noticed because later on it will be as common as the stang 2nd: Bad time to buy if your thinking about money because later on it will...well...be cheaper.

10-13-2009, 01:28 PM	#12
RMGee Clap Clap Drives: 2SS/RS LS3 Join Date: Sep 2009 Location: NC Posts: 326	Well im talking about the 2010 model in the sense that later on youll be able to buy it used. New? You could always wait a little for the hype to settle down, but yeah now is a good time to buy.

10-13-2009, 01:46 PM	#13
SleepWarz Banned Drives: 1991 New Yorker, 69 Tbird, ABM2SSRS Join Date: May 2009 Location: BC Canada Posts: 2,248 View My Garage	I always say it with cash.