My '11 Camaro got repoed.

[chrisrcromwell]

@Bad@ssCamaro, thank you! :-) Wow! What a dramatic turnaround in only a year. While the loss of my dream car is very painful, for the moment, I still do have a nice 2 bedroom apartment ($500 a month) in a decent part of town to live. So I am very thankful for that, it's not really furnished yet, but I am working on trying to buy a couch and a washer/dryer. My place does have the new big screen tv, and all of my stuff & clothes I got out of storage. So now my apartment looks like the ones I had back in the '90's, which bring back alot of memories for me. :-) Anyway, so I am really happy with where I live and I still get to have all of my stuff. I will probably stay on the site to answer questions or whatever that I can remember. Thank you for your encouragement.

[chrisrcromwell]

In case your all wondering, I kept the licence plate from my Camaro, it's hanging on the wall of my apartment.

[Deki]

Originally Posted by chrisrcromwell

My payment was $635 a month and I had no problems making that for the most part.

$635 a month for a V6?

Originally Posted by chrisrcromwell

I am being tempted to buy one of those super sporty Mercades that cost around $65,000.!

I'm confused.

[pincoin]

I respect you for not trashing the car, knowing you were going to lose it. Lots of people destroy stuff they are going to get repo'd

[11TexaSS]

Hope things get better for you real soon.

[PM Designs]

Good luck with everything.

[InfernoOrangeSS]

Originally Posted by Deki

$635 a month for a V6?

I'm confused.

I was going to post the exact same thing. If you couldn't afford the Camaro, how will you afford the Mercedes.


When you get back on your feet, look for a used Camaro, even a 3rd or 4th Generation? No matter what you decide, there is no reason to leave here.
I was on here for a year before I owned a Camaro.
Good folks, and good info.

[angie7]

That sux but $hit happens. If your looking for another car, I have a '02 Grand Am for sale.

[Overflow]

That sucks dude. But good luck getting back on your feet.

[Wolverine1]

Hang around in the forum! The economy is improving rapidly. You'll be back in a new Camaro in no time!!!

[suplex]

The only thing I have to say is that at least you did the right thing and turned your car in...versus them coming to get it. I can only imagine it will be better for your future, once everything gets straightened out for you, that it happened this way. Always better to give something up than to have it taken because "they" look at it as if to say: "OK, he fell on a hard time, and he's trying to help himself"...so you really did the best thing you could do.

As for the people who are having a hard time with $635/Month for your payment. If I took out a 3 year loan (instead of what I did) my payment probably would have been about that. Also, maybe you financed the whole thing with nothing down and it might have been a fully loaded 2LT/RS...so yeah, that compiled with the length of your loan could make sense.

[909Camaro!]

ouch man that sucks!! im sure you will get a camaro later on man!! things are rough right now and all we can hope for is for them to get better!

[fastball]

I know it's too late to suggest this now, but this just goes for a reminder to anyone faced with a similar situation.....

If you think you will not be able to keep the payments up on your car, before you talk to the bank about repo options (which not only will incur the charges and difference in auction selling price to you but also slam your credit rating), first try to sell the car yourself. Put a for sale sign on it, ask high blue book, but be willing to come down some if you're close to not making payments.

This way when the person buys it from you they're paying the bank directly, and then all you will be on the hook for is the difference if there is any (depending on what kind of interest rate you're paying and how much you put down).

But try selling it first before even thinking about the repo option. As SixGracing mentioned, the bank will now put it up for auction and there's a very good chance it will go for less than what you could have sold it for yourself. The bank will hold you for the difference anyway.

It's better to try to sell it yourself.

[PIPE]

Sorry to hear about your situation. Things will get better for you and you will have another awesome Camaro. Things take time and it'll work out. I'd check into how much money back you'd get by canceling the XM subscription though. It might be enough to pay a bill or such. I wouldnt keep it active for the next owner.