What are your monthly paments?

[edog]

I will pay between 455 and 520. either 3.99% for 60 months or 4.75% for 72 months. It depends on the amount I put down. Either 7500 deposit or 12k. Still debating.

[kdbolt70]

Originally Posted by EZ28

I agree with this post. It's ridiculous to think everyone has 35K or MORE to buy a car. GM and most car manufacturers wouldn't survive. Edmund's recommends that you put down 20% (perfectly reasonable), but I've put down less than that before and have paid off all of the cars that I've financed and have owned. Besides, you shouldn't dump all of your money into a car anyway. What about a rainy day fund or retirement?! ...unless you're rich.

I plan to put 7K down, including my GM card discount. My loan through my credit union will be 5.5% for 66 months giving me a $550/month payment.

Yup, I'm just out of college so I haven't had a whole lot of time to save up, but I can easily afford $1k/mo or more payments. I could wait and save up a larger down payment, but GM needs help NOW, and I'm happy to oblige

[TomSlick]

You do realize you can LEASE this car also.

[2SSJIM]

I've been making a Camaro payment to myself ever since I first saw the 5th gen! So technically, I've been making payments for 2.5 years now.... The good thing will be, now that I'm used to it, once the car it paid off.... I keep making payments to myself! Gotta retire someday and you can't count on the 401K ot the Gov.!

[salphonso]

Originally Posted by levi1922

if everyone waited until they could pay cash, then the auto industry would for sure be in the dirt completely.
realistically, most people will be financing.
and they doesnt mean the cant afford it.
if you can make the monthly payment, you can afford it.
its a Chevrolet, not a Bentley.
it wasnt made to be exclusive

To argue this point, if banks weren't giving out loan to everyone like it was candy in the previous years then the we would not have needed to give our tax money to them for a bail out because people were getting loans they couldnt afford. Just playing Devil's Advocate

[2SSJIM]

Leasing a car.... Check the fine print real close! In most cases, any damage on the car... door dings, scratches.... etc! Comes out of your pocket when you return it!

[josh_4184]

Originally Posted by salphonso

To argue this point, if banks weren't giving out loan to everyone like it was candy in the previous years then the we would not have needed to give our tax money to them for a bail out because people were getting loans they couldnt afford. Just playing Devil's Advocate

I think what he was trying to say is that our economy revolves around credit, because of inflation shit just costs to much money anymore to pay cash for unless you are rich (Houses/Cars,ect). I am not saying that all credit/debt is good, but the responsible people who do pay back there debt are what keep this economy moving. Not the wealthiest 1% who pays cash for everything. But there were some bad mistakes made by greedy banks/lenders and people who were given loans that had no business getting them. But thats why we are in the position that we are in, the bad debt and mistakes have to be paid for somehow.

[Beau Tie]

$389 a month, 6.30% for 84 months, 25,000 financed.

[TomSlick]

I always like to lease. After 4 years you just go get a new one.
Just have to stay within your mileage needs and take care of the car as if you owned it and its all good. Plus your payment is 200 bucks a month cheaper!
Lease vs. Buy is always based on your needs and usage so make your decision on that note.

[Beau Tie]

I have been leasing for the past 15 years, and now I am buying. I have grown out of the need for that new car every couple years, and I want to finally own my car and spend my money elsewhere.

I have to say, I loved leasing when I did though.

[PonyMan]

Monthly payment = Smile (no payment)

[Embalmer]

EXACT Numbers from my purchase.

Out the door price: $36,133.40 (see my car below, GMS Pricing + wheel insurance $399)

Put down $7000.00

Financed $29,133.40 at 3.99% for 60 months.

59 payments of $537.48
1 payment of $537.08

Maybe that will help someone out there figure out their payments.....

[GOLDDOG]

These 72 and 84 month payments are making me cringe.

I am doing a share secured loan @ 3.25% probably for the full amount of $29.5K. I would rather have the cash in my credit union, then putting down a huge payment.

[linkwpc]

498.65 with 48 Months at 4.75%

or

410.00 with 60 Months at 5.00%