Payment Options? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

iBoltx · 02-08-2017, 07:40 PM

Not sure if this would go under the sub topic of ordering etc, because it's more so about payment.

So there's a 2011 Camaro 2SS 34k Miles for $23900 Canadian Dollars (https://vancouver.craigslist.ca/van/ctd/5958423355.html) that's being sold. I've been eyeing it since August of 2016. It's been in the lot for about 6 months now.

Currently, I am taking time off work as a result of a motorcycle accident injury claim I still have to settle. My lawyer said that the settlement is worth about $45,000 Canadian Dollars (He takes a 30% cut), but the process is going to take about 8 months or more.

My problem is, I do not have the money to buy it now (as a result of time off work), but am able to get it after 8 months. And I just don't want to wait anymore. What are some payment options to purchase this Camaro now?

Another question is, is this Camaro worth it if I talk it down to maybe $21,000? How much is it worth?

BeastMode · 02-08-2017, 08:18 PM

No idea if it is priced right or not, but I would suggest waiting 8 months until things are definite and you have a solid handle on what your financial situation will be. These are not very rare cars, there will be plenty more for sale in 8 months. Better to wait a few months than to take on a car payment that you end up stuck with for years because this thing doesnt settle how you think it is going to.

Financial advice aside, I am assuming Canada is similar to the US - go to your local credit union/bank and see what kind of loan terms you can get. Since it is a used car, it is really whatever financing you can pull together.

JCunningham · 02-08-2017, 08:23 PM

if the car is in like new shape thats a great price for a 2SS but look for a 12 or newer. better suspension more standard options and better looking interior. for 45k you could buy a new Camaro. Make sure to get a look under it to see if it was driven in the salt. any rust pass on it. Plenty of these cars that are rust free. o ya never trust a lawyer. if you cant do it without the settlement DO NOT.

Mnhdrider · 02-08-2017, 08:51 PM

I would start by checking with your local bank/credit union that you have a relationship with already. One big red flag that you raise is that your not currently working. One thing I have learned is insurance companies seem to take as long as possible to pay as little as possible.
Last thing you want to be doing is making a car and car insurance payment if you start to run short of cash to live on. Good luck and please everyone look for motorcycles!!! Spring is just around the corner.

Olddudesrule · 02-08-2017, 09:01 PM

If you can't afford to buy it now, don't. As has been said, they are not rare, and you can find another when you have the money to buy one. We all know that "gotta have it now" feeling, and I've acted on it a time or two as well. I say wait.

Cyber10 · 02-08-2017, 09:11 PM

Quote:

Originally Posted by Olddudesrule

If you can't afford to buy it now, don't. As has been said, they are not rare, and you can find another when you have the money to buy one. We all know that "gotta have it now" feeling, and I've acted on it a time or two as well. I say wait.

Agree with this

zr1chris · 02-08-2017, 09:18 PM

Quote:

Originally Posted by Olddudesrule

If you can't afford to buy it now, don't. As has been said, they are not rare, and you can find another when you have the money to buy one. We all know that "gotta have it now" feeling, and I've acted on it a time or two as well. I say wait.

This.

There is still no telling how much $ you will actually get when the time comes, not to mention 8 months could turn into 16. There is really no way to be certain on how something like that will turn out. Just be patient and wait.

rm1023 · 02-08-2017, 09:34 PM

Quote:

Originally Posted by iBoltx

Not sure if this would go under the sub topic of ordering etc, because it's more so about payment.

So there's a 2011 Camaro 2SS 34k Miles for $23900 Canadian Dollars (https://vancouver.craigslist.ca/van/ctd/5958423355.html) that's being sold. I've been eyeing it since August of 2016. It's been in the lot for about 6 months now.

Currently, I am taking time off work as a result of a motorcycle accident injury claim I still have to settle. My lawyer said that the settlement is worth about $45,000 Canadian Dollars (He takes a 30% cut), but the process is going to take about 8 months or more.

My problem is, I do not have the money to buy it now (as a result of time off work), but am able to get it after 8 months. And I just don't want to wait anymore. What are some payment options to purchase this Camaro now?

Another question is, is this Camaro worth it if I talk it down to maybe $21,000? How much is it worth?

Wait for the settlement. It could end up being for much less and drag out for much longer than he is expecting. I had a friend that went through a similar situation and it took 3 years to settle and they got much less than what was initially expected.

G701LE · 02-08-2017, 09:43 PM

I would say $21,000 US is more the price range for that car. Anyhow, just another thought. Probably why it's been on the lot so long. I probably am waaaaaayyyyyyyyy off cause I don't know the conversion rate $$$$ lol.

JCunningham · 02-08-2017, 09:46 PM

$15,959 usd

BMR Sales · 02-09-2017, 01:49 PM

Quote:

Originally Posted by Olddudesrule

If you can't afford to buy it now, don't. As has been said, they are not rare, and you can find another when you have the money to buy one. We all know that "gotta have it now" feeling, and I've acted on it a time or two as well. I say wait.

Winner, Winner Chicken Dinner!

102SS · 02-09-2017, 02:28 PM

If you own your own home take out a line of credit,most of the time you only need to repay the interest each month not the principle and this would keep your payments low until you get your check.

2% to 3 per year is the norm.

InFiD3ViL · 02-09-2017, 02:35 PM

Quote:

Originally Posted by JCunningham

$15,959 usd

I wish you could get them that cheap. But that's more lower mile, later model 2LT pricing right there. Although you can find a 2010 SS with higher miles for between 17-18K US.

This is the 1st generation of Camaro that I can remember holding this much value this late into life.

14Black1LESS · 02-09-2017, 04:31 PM

Quote:

Originally Posted by G701LE

I would say $21,000 US is more the price range for that car. Anyhow, just another thought. Probably why it's been on the lot so long. I probably am waaaaaayyyyyyyyy off cause I don't know the conversion rate $$$$ lol.

It would be $18,191.70 US.

02-08-2017, 07:40 PM	#1
iBoltx Drives: Currently own a motorcycle. Join Date: Feb 2017 Location: Vancouver, B.C. Posts: 13	Payment Options? Not sure if this would go under the sub topic of ordering etc, because it's more so about payment. So there's a 2011 Camaro 2SS 34k Miles for $23900 Canadian Dollars (https://vancouver.craigslist.ca/van/ctd/5958423355.html) that's being sold. I've been eyeing it since August of 2016. It's been in the lot for about 6 months now. Currently, I am taking time off work as a result of a motorcycle accident injury claim I still have to settle. My lawyer said that the settlement is worth about $45,000 Canadian Dollars (He takes a 30% cut), but the process is going to take about 8 months or more. My problem is, I do not have the money to buy it now (as a result of time off work), but am able to get it after 8 months. And I just don't want to wait anymore. What are some payment options to purchase this Camaro now? Another question is, is this Camaro worth it if I talk it down to maybe $21,000? How much is it worth? Last edited by iBoltx; 02-08-2017 at 07:54 PM.

02-08-2017, 08:18 PM	#2
BeastMode Drives: 2011 SGM 1SS/RS M6 Join Date: Feb 2012 Location: New England Posts: 255	No idea if it is priced right or not, but I would suggest waiting 8 months until things are definite and you have a solid handle on what your financial situation will be. These are not very rare cars, there will be plenty more for sale in 8 months. Better to wait a few months than to take on a car payment that you end up stuck with for years because this thing doesnt settle how you think it is going to. Financial advice aside, I am assuming Canada is similar to the US - go to your local credit union/bank and see what kind of loan terms you can get. Since it is a used car, it is really whatever financing you can pull together. __________________ Current: 2011 SGM Camaro 1SS/RS M6 - CAI Cold Air Kit, Janetty Tuned

02-08-2017, 08:23 PM	#3
JCunningham Drives: 2017 2SS M6 Join Date: Jun 2013 Location: WNY Posts: 7,069	if the car is in like new shape thats a great price for a 2SS but look for a 12 or newer. better suspension more standard options and better looking interior. for 45k you could buy a new Camaro. Make sure to get a look under it to see if it was driven in the salt. any rust pass on it. Plenty of these cars that are rust free. o ya never trust a lawyer. if you cant do it without the settlement DO NOT. __________________ real ZL1 wheels and brakes, 285/305 Michelin Pilot Super Sports, Pray ported Intake manifold, Soler Throttle Body, Rotofab intake, EFI Tuning Flex fuel kit, full American Racing Headers Exhaust, 1 7/8" w/ cats H pipe and mufflers. Full 1LE suspension, with BMR adjustable sway bars and links, GM aluminum cradle bushings, Hurst shifter with lighter reverse spring, TWM shifter knob, Tick level 1 transmission. I should have bought a ZL1

02-08-2017, 09:01 PM	#5
Olddudesrule Resident nomad Drives: 2014 Summit White 1SS/1LE Join Date: Nov 2015 Location: Gilbert, AZ Posts: 1,765	If you can't afford to buy it now, don't. As has been said, they are not rare, and you can find another when you have the money to buy one. We all know that "gotta have it now" feeling, and I've acted on it a time or two as well. I say wait. __________________ Sold: 2007 Z06 2002 Viper GTS/ACR 2003 Z06 1965 FFR Cobra 2012 Nissan 370Z ADM LSA Stage II, Roto-Fab CAI, Kooks LTH/HFC's, Phastek CC, ported TB, Mishimoto radiator and oil cooler, BC Racing ER Series CO's, JPSS 32mm Black Magic rear bar, JPSS front inserts, R1 Concepts Premier slotted rotors/Goodrich SS lines, Schroth ASM harness, MGW flatstick, Brey-Krause HB, Tuned by NicD, at Cordes Performance Racing.

02-08-2017, 09:43 PM	#9
G701LE Drives: 2010 2SS/RS L99 IBM silver stipes Join Date: Dec 2015 Location: K.C. Kansas Posts: 1,329 View My Garage	I would say $21,000 US is more the price range for that car. Anyhow, just another thought. Probably why it's been on the lot so long. I probably am waaaaaayyyyyyyyy off cause I don't know the conversion rate $$$$ lol. __________________ 2010 Imperial Blue w/ Silver stripes 2SS/RS L99 Mods = Not enough....

02-08-2017, 08:51 PM	#4
Mnhdrider Drives: 15 black 2SSRS1LE Join Date: Dec 2016 Location: Northwest MN Posts: 25 View My Garage	I would start by checking with your local bank/credit union that you have a relationship with already. One big red flag that you raise is that your not currently working. One thing I have learned is insurance companies seem to take as long as possible to pay as little as possible. Last thing you want to be doing is making a car and car insurance payment if you start to run short of cash to live on. Good luck and please everyone look for motorcycles!!! Spring is just around the corner.

02-08-2017, 09:46 PM	#10
JCunningham Drives: 2017 2SS M6 Join Date: Jun 2013 Location: WNY Posts: 7,069	$15,959 usd __________________ real ZL1 wheels and brakes, 285/305 Michelin Pilot Super Sports, Pray ported Intake manifold, Soler Throttle Body, Rotofab intake, EFI Tuning Flex fuel kit, full American Racing Headers Exhaust, 1 7/8" w/ cats H pipe and mufflers. Full 1LE suspension, with BMR adjustable sway bars and links, GM aluminum cradle bushings, Hurst shifter with lighter reverse spring, TWM shifter knob, Tick level 1 transmission. I should have bought a ZL1

02-09-2017, 02:28 PM	#12
102SS waiting at the tree Drives: SIM 2010 2SS/RS A6 Join Date: Apr 2013 Location: Niagara Falls Posts: 4,312	If you own your own home take out a line of credit,most of the time you only need to repay the interest each month not the principle and this would keep your payments low until you get your check. 2% to 3 per year is the norm. __________________ 2010 2SS/RS A6 Just a few bolt-ons and appearance doo dads