Help: When to order advice (esp military)

[TheMadHatter99]

So here's the general gist of my situation: Around June I will report to Naval Station Mayport for the next two years or so and will be receiving O-1 pay (not great, but not bad either).

I have a 2007 V6 'Stang I can trade in for approx $10k, leaving me with around a $450 monthly payment for a SS/RS (assuming 0% financing for 60 months and paying @ MSRP).

I can swing this payment IF I get a roommate and then use my extra half of my BAH to cover it. However, this will leave me on a bit of a shoestring (not awful, I'll still make all of my investment goals and such, but it won't leave too much left over for an emergency).

So my question, especially to those military folk on here, should I try to get one soon after arriving in Mayport, should I place my order now, or should I wait a few months, build up a bit of a cushion, and then place an order for my dream SS?

I've been waiting on this car, as have many of you, since 2006 and seeing everyone else in there's will drive me absolutely crazy, which is one of the driving forces behind wanting to get one ASAP, but the practical side of my brain is telling me to wait.

Opinions?

PS- This will obviously also be impacted by my ship's deployment schedule, but I don't know what it is just yet, so I'm not factoring it in.

[PQ]

Well, good to see your on the "O" side of the payscale. Congrats. You now have to do nothing for your money. JK

Depends like you said on deployment. But remember, it's hard to spend money when deployed. Just stay away from the gambling. I wouldn't worry about that. The only thing I can see is logistics. You need to be here when the car comes in. Other than that, go for it. BAH split in two or even three can be a great deal. Don't know the price of the area but you can find roomies easy. Good Luck.

Don't know how you'll get the 0% financing but the Naval Credit Union may help. Or whatever CU they have.

[TheMadHatter99]

I'm hoping the 0% will be offered through GM and I can use a cosign to get it, but obviously that's the most ideal situation.

Otherwise I know I can get 7.5% for 72 months or 6% for 60 months through USAA which will keep my monthly payments in the same ballpark at least.

[PQ]

With the trade in for sure.

Being an officer you probably have better rules in some cases and worse in others but if possible I would find out if your boat is scheduled under-way during the next little bit. I was in the Army from 88-92 and on the enlisted side of things. But you'll defenately have a safe place to domocile your vehicle so if it's all good then get it.

Whenever I was deployed I was able to save alot of money because there was nothing good to spend it on. Don't know about the Navy. However I can gaurantee there will be no 0% financing for GMAC for the Camaro. At least not yet. The Challenger is a different story but they are sitting on lots waiting for suckers.............oh.............I mean buyers.

[TheMadHatter99]

Yeah, I'm looking forward to banking a lot during deployment between sea pay, hazardous duty, no taxes, and no real expenses it'll be quite nice.

I know 0% is probably a pipe dream, but I can hope.

Besides, USAA's 7.5% for 72 months is actually cheaper per month which is my main concern since I plan on keeping the car for a long long time. It sort of irks me to pay even more for the car, but ultimately I don't care too much to stop me from ordering, haha.

[blazzin1]

Originally Posted by TheMadHatter99

I'm hoping the 0% will be offered through GM and I can use a cosign to get it, but obviously that's the most ideal situation.

Otherwise I know I can get 7.5% for 72 months or 6% for 60 months through USAA which will keep my monthly payments in the same ballpark at least.

You should look into Pentagon Federal Credit Union, they're offering 3.9% for 60 months right now. And just to give my opinion (I'm active-duty), you should probably wait until you get settled and then you'll have a better idea of what you can or can't afford. I was all excited about pre-ordering my new SS/RS too, but I'm looking to retire within the next few months, and my wife actually calmed me down and explained that we need to pay off some more debts, get moved to wherever, get new jobs, and basically get ourselves stable before making a $36K purchase. Dang her, and her common sense!!!

[Mr_Draco]

Originally Posted by TheMadHatter99

but the practical side of my brain is telling me to wait.

I would listen to this side and wait until you got back. Unless you've already ordered chances are you won't be able to accept delivery yourself and would have to trust someone else to accept delivery and put the car in their name. Also do you have somewhere that you can safely keep the car for the 2 years that you are gone? If you wait till you get back, you can buy an '11 or '12 with more options (hopefully) to choose from below MSRP, possibly closer to invoice.

[TheMadHatter99]

Originally Posted by Mr_Draco

I would listen to this side and wait until you got back. Unless you've already ordered chances are you won't be able to accept delivery yourself and would have to trust someone else to accept delivery and put the car in their name. Also do you have somewhere that you can safely keep the car for the 2 years that you are gone? If you wait till you get back, you can buy an '11 or '12 with more options (hopefully) to choose from below MSRP, possibly closer to invoice.

I won't be gone for two years, I'll be stationed in FL for two years. Sorry for the confusion.

[Ry4nVan]

I'm in pickle too. I'm currently applying for a pilots slot and hopefully recieving my commission soon. If my application is approved, I will probably be recieving my Camaro that I've had on order since Oct 13-- right around when I might leave. Again, the application is still in the 'what if' stage... but it kind of makes me think twice about getting the Camaro right now, especially when I'll hopefully be traveling quite a bit for the next couple years.

hmmm... decisions...

[Andro]

No worries an O-1 pay will cover this car go ahead and order one now. Went on three deployments in the past four years and that payed of my BMW alone.

[Chewy]

hey madhatter, coming to my part of the country i see. Housing out here is dirt cheap right now - i'm not sure what the BAH rate is for O-1 but an E5 can cover a mortage & utilites on a 3 bed 2 bath w/o roomates. I'm sure you'll be fine covering your payments with BAH split.

i think when you get it depends on ur deployment cycle - if you're leaving within 3 months of receiving your camaro, i'd say wait.

Once you make your decision i can help recommend which dealerships are better n worse. Goodluck bro, and congrats on the academy