Dealer Trade-in and Financing Question - Page 2 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

perfxn · 04-16-2009, 09:10 PM

Id redo your monthly finances and i always do them on the high side. then do the loan calculator again low balling it "worst case scenario" with the down payment amount and rate. after that if you think you can afford the roughly 500$ car payment god bless and jump on it, if 500 is too much. give it some time. me my self dnt have any bills other that insurance and a sell phone so i can afford up to around 700$, which i wont be doing but my monthly payment will be around the 500$. hope this helps!!! god bless

Cyberfan · 04-16-2009, 10:45 PM

I agree with everybody else that you need to wait- you are too upside down in your Camry now to do a deal. And you really can't be doing a trade in either, as that screws you even more, as others have pointed out! Prices will come down with dealer discounts after the Camaro is out a little while- I will wait for mine, and the car it will replace (02 Trans Am Firehawk) is paid for. And I'll sell the Pontiac myself.

LEX2CAMARO · 04-16-2009, 10:51 PM

Quote:

Originally Posted by Cyberfan

I agree with everybody else that you need to wait- you are too upside down in your Camry now to do a deal. And you really can't be doing a trade in either, as that screws you even more, as others have pointed out! Prices will come down with dealer discounts after the Camaro is out a little while- I will wait for mine, and the car it will replace (02 Trans Am Firehawk) is paid for. And I'll sell the Pontiac myself.

I really appreciate the suggestions guys. I have decided to wait and make the move when I am ready. With God's blessings I am very comfortable and make good money but I agree that I cannot put myself in a position where I do not want to be.

Hopefully I will be posting with the Picture of my Camaro one day. Funny thing is that wife is on my case to get her a Mini

since she is sick of her 2000 Lexus GS....well back to my Camry!

salphonso · 04-17-2009, 07:01 AM

KBB, NADA or any trade in site are estimates. Dealers usually go by what that vehicle is selling at dealer auctions, especially if your trading in a vehicle that they are not going to keep on the lot. This is many cases can be good or bad. When gas was $4/gal you could get a Hummer for 20k at the auction which made that trade in horrible for all Hummers. The only way you can see what vehicles are going for at the auctions is if you know a dealer or have a dealer license to get in the auctions.

live2well · 04-17-2009, 07:07 AM

simply answer is wait. But i think you already know that. :-)

04-17-2009, 07:07 AM	#19
live2well Drives: 2010 VR 2SS/RS A6 Join Date: Oct 2008 Location: Odenton, MD Posts: 688	simply answer is wait. But i think you already know that. :-) __________________ Intelligence plus character that is the goal of true education. BrianC. :flag2:

04-16-2009, 09:10 PM	#15
perfxn Drives: 2SS RS Join Date: Oct 2008 Location: portland, OR Posts: 305	Id redo your monthly finances and i always do them on the high side. then do the loan calculator again low balling it "worst case scenario" with the down payment amount and rate. after that if you think you can afford the roughly 500$ car payment god bless and jump on it, if 500 is too much. give it some time. me my self dnt have any bills other that insurance and a sell phone so i can afford up to around 700$, which i wont be doing but my monthly payment will be around the 500$. hope this helps!!! god bless

04-16-2009, 10:45 PM	#16
Cyberfan Drives: 08 Z06 Vette; 02 T/A Firehawk Join Date: Dec 2008 Location: Atlanta Posts: 195	I agree with everybody else that you need to wait- you are too upside down in your Camry now to do a deal. And you really can't be doing a trade in either, as that screws you even more, as others have pointed out! Prices will come down with dealer discounts after the Camaro is out a little while- I will wait for mine, and the car it will replace (02 Trans Am Firehawk) is paid for. And I'll sell the Pontiac myself.

04-17-2009, 07:01 AM	#18
salphonso Drives: 2010 Camaro 2SS (Coming soon) Join Date: Mar 2009 Location: LA Posts: 108	KBB, NADA or any trade in site are estimates. Dealers usually go by what that vehicle is selling at dealer auctions, especially if your trading in a vehicle that they are not going to keep on the lot. This is many cases can be good or bad. When gas was $4/gal you could get a Hummer for 20k at the auction which made that trade in horrible for all Hummers. The only way you can see what vehicles are going for at the auctions is if you know a dealer or have a dealer license to get in the auctions.