10-12-2011, 03:01 PM | #1 |
SoCalRaceTeam new-b!
Drives: 2012 ZL1/WHITE/BLACK STRIPE Join Date: Apr 2011
Location: norwalk ca
Posts: 2,021
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Down payment, how much?
Ok, now that the Zl1 price is expected to be over 60k out the door, how much do you guys plan on putting down? How many of you are planning to pay it cash? I myself plan on putting down at least 15k and finance the rest.
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10-12-2011, 03:06 PM | #2 |
Drives: 2013 ZL1 IOM Vin #169 Join Date: Jan 2011
Location: Maryland
Posts: 1,953
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As much as I can, or as much as my wife will allow me to. The rest will
be taken out from my home equity, which will be alot lower then through GM I'm thinking. So basically cash to the dealer all at once.
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Last edited by Z4me; 10-12-2011 at 03:51 PM. |
10-12-2011, 03:07 PM | #3 |
Drives: 2010 camaro Join Date: May 2011
Location: Southeast,
Posts: 842
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I will finance the whole darn thing as long as i get my interest rate I want
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10-12-2011, 03:45 PM | #4 |
THE CAMARO KING
Drives: 2012 Camaro ZL1 on order #PZSD7S Join Date: Aug 2006
Location: Out Somewhere Driving My 'BADZL1'
Posts: 2,284
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My plan is 1/2
Could vary.... and is also a key factor for me.. Not wanting over a $600 month payment on this... Has anyone done any budgeting or numbers crunch to see where you are at as far as payments etc? If I pay half down I am still looking at about $500 a month or so give or take with a low percentage rate... I could only guestimate that people that finance the whole thing for even the longest term will have a $1,000 or more monthy payment. For anyone under a $40,000 a year income would seem insane to me too. But then again, I do not have anyone helping me make car payments either. My Dog wont help, nor will my cat, or my Girlfriend... She has plans of her own and wants a Acura but that is a whole other story. I would like to hear of peoples plans though and down payment numbers.
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2012 Camaro ZL1 Car Name: Bruce
ZL1, LSA, MN6/MG9, DSX, RTQ, VR, Current Status: 2030 1000 Initial Order 11/11/2011 Chevyland 1100 Order accepted at dealer: 11/11/2011 - PZSD7S 2000 Order accepted by GM: 12/14/2011 3000 Accepted By Production Control: 00/00/2011 - TPW 00/00/2011 3100 Sequenced: 00/00/2011 3300 Scheduled For Production:0/0/2012 3400 Broadcast: 0/0/2012 3800 Produced: 0/0/2012 4000 Available To Ship: 0/0/2012 4200 Shipped: 0/0/2012 5000 Delivered To The Dealer: 0/0/2012 6000 Delivered To Customer:0/0/2012 |
10-12-2011, 03:49 PM | #5 |
THE CAMARO KING
Drives: 2012 Camaro ZL1 on order #PZSD7S Join Date: Aug 2006
Location: Out Somewhere Driving My 'BADZL1'
Posts: 2,284
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2012 Camaro ZL1 Car Name: Bruce
ZL1, LSA, MN6/MG9, DSX, RTQ, VR, Current Status: 2030 1000 Initial Order 11/11/2011 Chevyland 1100 Order accepted at dealer: 11/11/2011 - PZSD7S 2000 Order accepted by GM: 12/14/2011 3000 Accepted By Production Control: 00/00/2011 - TPW 00/00/2011 3100 Sequenced: 00/00/2011 3300 Scheduled For Production:0/0/2012 3400 Broadcast: 0/0/2012 3800 Produced: 0/0/2012 4000 Available To Ship: 0/0/2012 4200 Shipped: 0/0/2012 5000 Delivered To The Dealer: 0/0/2012 6000 Delivered To Customer:0/0/2012 |
10-12-2011, 03:52 PM | #6 |
Drives: VR ZL1 #259/Nissan 370Z NISMO Join Date: Aug 2008
Location: Ohio
Posts: 1,071
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Selling/trading in my 2010 SS, hopefully finance 30K at 2.75% about $500/month for 60 months...
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10-12-2011, 03:52 PM | #7 |
THE CAMARO KING
Drives: 2012 Camaro ZL1 on order #PZSD7S Join Date: Aug 2006
Location: Out Somewhere Driving My 'BADZL1'
Posts: 2,284
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just an example...
if this car is $60,000 (which i highly doubt) apr 3% (mine will be higher) 6 years of financing is $531.78
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2012 Camaro ZL1 Car Name: Bruce
ZL1, LSA, MN6/MG9, DSX, RTQ, VR, Current Status: 2030 1000 Initial Order 11/11/2011 Chevyland 1100 Order accepted at dealer: 11/11/2011 - PZSD7S 2000 Order accepted by GM: 12/14/2011 3000 Accepted By Production Control: 00/00/2011 - TPW 00/00/2011 3100 Sequenced: 00/00/2011 3300 Scheduled For Production:0/0/2012 3400 Broadcast: 0/0/2012 3800 Produced: 0/0/2012 4000 Available To Ship: 0/0/2012 4200 Shipped: 0/0/2012 5000 Delivered To The Dealer: 0/0/2012 6000 Delivered To Customer:0/0/2012 |
10-12-2011, 03:53 PM | #8 |
Drives: 2002 Nissan Altima Join Date: Jul 2008
Location: Chicago, IL
Posts: 2,048
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I plan to finance about half.
OT, but speaking of financing with GM, does anyone know if they allow you to reduce insurance coverage (collision) while you store a car during the winter (typically 5 months)? That's something I'll have to investigate as I've heard some lenders don't allow that and was hoping some of you guys had experience or knowledge of that.
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Factory Badassery
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10-12-2011, 03:59 PM | #9 | |
THE CAMARO KING
Drives: 2012 Camaro ZL1 on order #PZSD7S Join Date: Aug 2006
Location: Out Somewhere Driving My 'BADZL1'
Posts: 2,284
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Quote:
If the car was $51,000 apr 9% 6 year term 16,000 down would be $630.. The latter would probably make me have to hold out till 2013 where I could beef up my down payment more and work on getting my interest rate down more. I do not see myself diving into a $630 payment for 6 years.... That number will have to come down significantly.. But I am not worried. It will come when the time is right. That is just the way faith is.... One other thing... Are you guys planning on GMAC financing? or private bank, etc?
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2012 Camaro ZL1 Car Name: Bruce
ZL1, LSA, MN6/MG9, DSX, RTQ, VR, Current Status: 2030 1000 Initial Order 11/11/2011 Chevyland 1100 Order accepted at dealer: 11/11/2011 - PZSD7S 2000 Order accepted by GM: 12/14/2011 3000 Accepted By Production Control: 00/00/2011 - TPW 00/00/2011 3100 Sequenced: 00/00/2011 3300 Scheduled For Production:0/0/2012 3400 Broadcast: 0/0/2012 3800 Produced: 0/0/2012 4000 Available To Ship: 0/0/2012 4200 Shipped: 0/0/2012 5000 Delivered To The Dealer: 0/0/2012 6000 Delivered To Customer:0/0/2012 |
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10-12-2011, 04:01 PM | #10 | |
THE CAMARO KING
Drives: 2012 Camaro ZL1 on order #PZSD7S Join Date: Aug 2006
Location: Out Somewhere Driving My 'BADZL1'
Posts: 2,284
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Quote:
__________________
2012 Camaro ZL1 Car Name: Bruce
ZL1, LSA, MN6/MG9, DSX, RTQ, VR, Current Status: 2030 1000 Initial Order 11/11/2011 Chevyland 1100 Order accepted at dealer: 11/11/2011 - PZSD7S 2000 Order accepted by GM: 12/14/2011 3000 Accepted By Production Control: 00/00/2011 - TPW 00/00/2011 3100 Sequenced: 00/00/2011 3300 Scheduled For Production:0/0/2012 3400 Broadcast: 0/0/2012 3800 Produced: 0/0/2012 4000 Available To Ship: 0/0/2012 4200 Shipped: 0/0/2012 5000 Delivered To The Dealer: 0/0/2012 6000 Delivered To Customer:0/0/2012 |
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10-12-2011, 04:08 PM | #11 | |
Drives: 2011 Camaro SS/RS LS3 Join Date: Aug 2010
Location: Texas
Posts: 1,630
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Quote:
So your going to be financing a car on a house note? Like a 15 or 30 year note?
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Yeah, I'll get around to it...
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10-12-2011, 04:10 PM | #12 |
Drives: 2002 Lifted Trailblazer Join Date: Sep 2011
Location: Knoxville, TN
Posts: 51
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Cash Is King
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10-12-2011, 04:22 PM | #13 | |
Drives: 2002 Nissan Altima Join Date: Jul 2008
Location: Chicago, IL
Posts: 2,048
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Quote:
Yeah, I have to research this. I've been told by some that certain lenders allow you to take off collision, and thus significantly reducing the monthly premium, when the car is in storage. Of course, theft, etc coverage would have to remain at all times during the duration of the loan. Don't know how true it is, but for someone in my situation who will only drive the car for about 7 months out of the year, it's definitely worth looking into.
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10-12-2011, 04:29 PM | #14 |
Drives: 2018 ZL1 Join Date: Oct 2011
Location: Huntingtown, MD
Posts: 1,138
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The plan is 20K down but it will really depend on the price.
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2018 ZL1…Many mods to come
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