To the V6 owners switching to V8....

[Monchy36]

Originally Posted by puertoricanfont

i recently traded to the 8. I got a black 2010 camaro ss for 26500 with about 21000k miles. Why did i trade you ask? Well my way is thinking is that if im going to pay for a car I might as well get a car that i want to keep for a long time. At first i didnt have the income to afford the ss and i was happy with the 6. I even considered dropping twin turbos on the 6. But after 2 years and with more income an opportunity came up where i could get the 8 for less than the price of twin turbos. Nothing has really changed since i got the 8 except for the torque and power of the new engine. The gas is still about the same. I get around 15 to 16 on city. I got about 16 to 17 with the 6. My insurance went up 125 for my 6 month premium and monthly payments went up 28$. And for me the 8 is still practical as its my DD for college. Ultimately you need to decide if the 6 is perfect for you, or if you want to get the 8. Nothing wrong with neither car as they are both good looking performing cars.

PR! You the perfect example of what i'm talking about! Esperanza was amaizing!!!! I saw your journal and Man! How much time, money and love you put on that car!!! But still you let her go for more power? And start all over again!!!

[Monchy36]

Originally Posted by austinjames

Gave up the chance? like I said my priorities are much different than yours. I wanted to do a lot of interior and exterior mods. And, I dont need the power. Im happy with what Ive got, and dont live my life wishing I had everything bigger and better. I have a nicer car than 90% of the people in the world, and I am so grateful that I even have a v6.

Thank You Austin! You just make me realize what i'm after... I'm more for the looks than the performance... I hope i can make mine look a least 1/2 as good as yours!!!

[camslambam]

This will be interesting

[invaderzim]

Originally Posted by JoshBobGuptaMarley

I paid cash for my v6. I sold all my mods when I changed to a v8. I changed to a v8 so I'll have bigger possibilities and a more reliable platform for performance mods. I took a 13k loan for the v8 and over 7 years it was 200 a month. That's about what I used to pay for cable tv, so too me no cable and a camaro was way cooler than having HBO and DVR...

a $13000 loan at $200 for 7 years is a high interest. specially when you put down 2/3 of the price of a new $39000 car. what is it an 8? non of my business and no offense I'm just pointing out that finances might not be your strong point....

[kylenewman]

Originally Posted by invaderzim

a $13000 loan at $200 for 7 years is a high interest. specially when you put down 2/3 of the price of a new $39000 car. what is it an 8? non of my business and no offense I'm just pointing out that finances might not be your strong point....

7.5% interest for 84 months, 3800$ interest on 13000.

[invaderzim]

Originally Posted by kylenewman

7.5% over 84 months 3800$ interest on 13000

I said 8 off the top of my head. close enough... too high. specially when you put down $26k on a $39k car.

[gjarzabek009]

The people that do trade in for a v8 have a boat load of excuses to justify that they didn't get financially fisted when in reality they did, lol.

[puertoricanfont]

Originally Posted by Monchy36

PR! You the perfect example of what i'm talking about! Esperanza was amaizing!!!! I saw your journal and Man! How much time, money and love you put on that car!!! But still you let her go for more power? And start all over again!!!

The good thing about modding is that you can remove and sell it stock. Thats what I did and ended up losing about 900$ after I sold stuff. And yes I spent many hours on Esperanza an still traded her in. But as i said why go thru the whole loan and pay 22k for the v6 if I still want more out the car. And don't worry the mod bug never leaves. I just bow painted bowtie, AAC sidemarkers, afterburners and other goodies.

[Baba]

Originally Posted by gjarzabek009

The people that do trade in for a v8 have a boat load of excuses to justify that they didn't get financially fisted when in reality they did, lol.

I'm not certain about the "excuses" part, but your statement definitely holds water.

There are very few threads I've read on this forum where anyone has openly admitted to taking a "financial bath" by trading up from an LS/LT to an SS.

Heck, My 2LT RS 'vert is 9 months old and paid off and has only 2,400 miles on her. If I were to trade up to a 2012 2SS RS 'vert, it would cost me approx. $15k, given the current trade-in value of my 9 month old 2011 'vert is approx. $26-$28k.

There's no way in hell people are even "breaking even" - let alone getting ahead - by trading up - even if their Camaro is paid off. Lowering one's monthly payments via the trade-up is, with all likelihood, due to a better interest rate than the original loan and having SOME equity in the old Camaro. Either the loan pay-off of their 1st Camaro is rolled over into the new, (lower interest?) loan or they're receiving less in trade-in value than the original selling price if the car is paid off - because it has depreciated. Making payments on 2 Camaros for a total of 7 or 8 years is still a mega loss. I'm not a financial wiz, but the simple fact is, folks are just extending their payment plan toward owning a Camaro.

Nothing wrong with any of that. To each his own, but it is wise to "live within one's means".

Lots of threads about the "cost of trading up".

[angie7]

I traded up after 7 mths with my LT. Did I need the power? No. But I wanted it. Plus my payments only went up an extra $40 bucks a mth for a brand new '11 SS/RS. Its very unlikely you will walk away wo being upside down in your current loan, the important question is how much.

Ohhhh and IT'S WORTH EVERY PENNY FOR THE V8!!

[Baba]

Originally Posted by angie7

I traded up after 7 mths with my LT. Did I need the power? No. But I wanted it. Plus my payments only went up an extra $40 bucks a mth for a brand new '11 SS/RS. Its very unlikely you will walk away wo being upside down in your current loan, the important question is how much.

Ohhhh and IT'S WORTH EVERY PENNY FOR THE V8!!

[kylenewman]

Everyone saying my payment only went up xxx.00$ a month how many more months did you extend your loan? Did you end up with a new 60,72,84 month loan?

[invaderzim]

yea like I said didn't mean to offend the dude with the high interest. just wanted to point out that financially, trading up isn't really a smart thing to do so if that's the justification people want to take the jump it isn't a very good one. twist it around in your head all you want but what it really comes down to is how much you want it. you want it bad enough youll convince yourself any way it takes that it really isn't costing you "that much more"....

that being said if you have little to no credit then, other than paying cash for the ss, you really don't have many choices other than building credit with a smaller loan for a year or so before you can get the larger loan you originally wanted to get anyways....

[01pewterz28]

For most I guess they settled for what they could afford I Did not want the SS since I use my Camaro as a daily driver 51k so far besides I have my V8 Caaro in the garage.