how to buy a camaro - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

kiteman · 07-04-2011, 11:06 AM

sounds simple, right? i have a 530i that i want to get about 25k for. dealers have quoted right around 20k for the trade-in. that's not going to work for me because i just bought it a year ago for 29k, so i'm not willing to take the 9k depreciation hit after only owning 1 year. private sale i can probably get close to 25k, which is acceptable to me.

problem is i want to order a camaro. so if i order and it takes 2 months to get here, when i do i sell the bmw. if i wait until after i order, i may not sell at all and that's a big deal. i don't even know if that's possible--when i order would i have to start financing the car immediately, or not until it is delivered? i can't have two outstanding car loans obviously.

but if i sell the car before i order, then i have another dilemma--no car for 2 months. so what do i do, spend $500 a month on a car rental. that seems excessive. let me know your thoughts on the options i may have. thanks guys. my better option is almost buying a car off the lot when i'm ready, which might be more complicated to find what i want, but at least then i don't have the 2 month down time.

TOMS1SS · 07-04-2011, 11:23 AM

Quote:

Originally Posted by kiteman

sounds simple, right? i have a 530i that i want to get about 25k for. dealers have quoted right around 20k for the trade-in. that's not going to work for me because i just bought it a year ago for 29k, so i'm not willing to take the 9k depreciation hit after only owning 1 year. private sale i can probably get close to 25k, which is acceptable to me.

problem is i want to order a camaro. so if i order and it takes 2 months to get here, when i do i sell the bmw. if i wait until after i order, i may not sell at all and that's a big deal. i don't even know if that's possible--when i order would i have to start financing the car immediately, or not until it is delivered? i can't have two outstanding car loans obviously.

but if i sell the car before i order, then i have another dilemma--no car for 2 months. so what do i do, spend $500 a month on a car rental. that seems excessive. let me know your thoughts on the options i may have. thanks guys. my better option is almost buying a car off the lot when i'm ready, which might be more complicated to find what i want, but at least then i don't have the 2 month down time.

Sell your car private party and get the most money you can. If you really can get 5k more for your car selling it private vs the trade-in doesn't that make $1,000 dollars in rental fees worth it given the net gain?

Apex Motorsports · 07-04-2011, 11:25 AM

You don't sign any paper work until the car is delivered. And then it is usually 30-45 days before the first payment is due. That being said, there is a good chance that someone in the DFW area has what you are looking for on their lot. Just have your dealer do a search and see if they can locate one. They can do a dealer trade and bring it in for you.

Evil35th · 07-04-2011, 11:48 AM

When i ordered mine i just put down a $500 deposit, which i am sure you can do. then as you track the process on your build you can plan when the best time to sell the BMW. and if you decide not to sell it your out 500 rather than thousands you would lose on a rental. You will not be able to start financing the car until you actually have a VIN. Once you have a vin then you can begin your loan paperwork, when your car comes in and your dealer cashes the loan check then you will start paying on your car.

Phail · 07-04-2011, 12:43 PM

Get some form of credit line that you can pay off anytime without penalties and pay for the car on that, then sell your car and pay off the credit line. Alot cheaper then a rental, and alot less hassle.

07-04-2011, 11:06 AM	#1
kiteman Drives: 2012 45th Camaro, 2SS/M6 Join Date: Mar 2011 Location: At my computer Posts: 1,327	how to buy a camaro sounds simple, right? i have a 530i that i want to get about 25k for. dealers have quoted right around 20k for the trade-in. that's not going to work for me because i just bought it a year ago for 29k, so i'm not willing to take the 9k depreciation hit after only owning 1 year. private sale i can probably get close to 25k, which is acceptable to me. problem is i want to order a camaro. so if i order and it takes 2 months to get here, when i do i sell the bmw. if i wait until after i order, i may not sell at all and that's a big deal. i don't even know if that's possible--when i order would i have to start financing the car immediately, or not until it is delivered? i can't have two outstanding car loans obviously. but if i sell the car before i order, then i have another dilemma--no car for 2 months. so what do i do, spend $500 a month on a car rental. that seems excessive. let me know your thoughts on the options i may have. thanks guys. my better option is almost buying a car off the lot when i'm ready, which might be more complicated to find what i want, but at least then i don't have the 2 month down time.

07-04-2011, 11:48 AM	#4
Evil35th Drives: 02 35th Aniversary SS/'11 RJT 2SS Join Date: Sep 2010 Location: Richlands NC/Quantico Va Posts: 240	When i ordered mine i just put down a $500 deposit, which i am sure you can do. then as you track the process on your build you can plan when the best time to sell the BMW. and if you decide not to sell it your out 500 rather than thousands you would lose on a rental. You will not be able to start financing the car until you actually have a VIN. Once you have a vin then you can begin your loan paperwork, when your car comes in and your dealer cashes the loan check then you will start paying on your car. __________________ 02 35TH LE#3089 and 2011 2SS/RS

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07-04-2011, 11:25 AM	#3
Apex Motorsports Drives: 2000 Camaro SS Join Date: Feb 2010 Location: Louisville, Ky. Posts: 25,165	You don't sign any paper work until the car is delivered. And then it is usually 30-45 days before the first payment is due. That being said, there is a good chance that someone in the DFW area has what you are looking for on their lot. Just have your dealer do a search and see if they can locate one. They can do a dealer trade and bring it in for you.

07-04-2011, 12:43 PM	#5
Phail Drives: 2011 2LT/RS M6 IOM Join Date: Apr 2011 Location: SK,Canada Posts: 317	Get some form of credit line that you can pay off anytime without penalties and pay for the car on that, then sell your car and pay off the credit line. Alot cheaper then a rental, and alot less hassle.