Zl1 Camaro car payment???

[cvp33]

Car payments can be found using a calculator. The question you should be asking is what interest rate are you seeing for new cars right now. We just bought 2 new 2013's, one ZL1, one Jeep Grand Cherokee Overland. Got 1.25% and 1.34% for 60mos. No reason to pay cash with the cost of money so cheap.

[Taser Deployed]

Originally Posted by cvp33

Car payments can be found using a calculator. The question you should be asking is what interest rate are you seeing for new cars right now. We just bought 2 new 2013's, one ZL1, one Jeep Grand Cherokee Overland. Got 1.25% and 1.34% for 60mos. No reason to pay cash with the cost of money so cheap.

[mrmarklin]

The payment can vary so much, that this is meaningless.

Lots of parameters:

Amount financed
Length of term
Interest rate

Most dealers will find a way to fit the payment into the amount you say you can "afford".

[DangerZL1]

I was surprised at the finance guys tactic of trying to get me to go to 63 or 64 months to drop the payment a little. Congrats to those who were or are able to pay cash.

[kevin1106]

17k down 1.99% APR. 812.00 a month for 63 months.

[2012-1822]

Originally Posted by LBreezie

How much do you guys pay a month for your zl1 camaros? Was wondering if it is around $650 a month?

An old adage comes to mind, if you have to ask, you can't afford it.


Now I don't mean to be negative or mean, but like a lot of guys said already, really depends on how much you are putting down, interest rate, etc.


But I really personally feel like unless you are the individuals who got a better interest rate and applied the money elsewhere, that a ZL1 is something that really shouldn't be financed. My opinion, if I couldn't have paid cash for it I would have gotten something cheaper rather than pick up a payment.

I'm not saying a car payment doesn't have a place in this world. Sometimes people have to get a car and don't have thousands of dollars sitting around, but I feel sports cars don't fall into that category.

[cvp33]

Lots of better ways to invest your money than a sports car for sure. A highly depreciating asset......but one I just can't live without....seriously. Given the low cost of money, financing at 1.25% for as long as they'd let me was a good move. Given the following:

- Max your 401k + company match = free money and effective interest rate north of 12%.
- Max IRA's, educational or retirement you can still find 1.5% which is still better than 1.25%.
- Deferred income if your company has it. Up to 50% of salary and 6% return at my last job.
- I bonds, not EE, but inflation bonds. Current rate is 1.18% through October. I gotta believe that inflation is going to kick in at some point....

[ZRider]

$0

[VegasZL1]

I pay 2500 a month so it's paid off in two years. Don't buy a car because what you can afford in a payment. Buy a car because it's within your means. Just saying.

[Faster12]

10k down (of course some of that when torwards tax, title, and license fees) $860 a month.

[tonyfred]

30 grand down, 400 a month.

[URBAN LEGEND]

974.00 on a 3 year lease.

[BlackinBlack]

My payment is what you are looking for so it can be done.

For those that could pay cash.... good for you. Most people don't have that option but that does not mean they can not afford the car.

My advice is do not look at the payment but at the amount financed. I personally try to ensure the amount I finance is below the trade-in value. That ensures I am not upside down if I need to sell the car.

As a potential ZL1 buyer other things to consider are.

1) Gas cost Vs your current car. I daily drive mine and I lost 5 mpg Vs my SS. At 4 bucks a gallon and 12,000 miles a year the additional fuel cost is $904.

2) Tires. I would plan on one set per year.

3) My insurance only changed $24 per year which is a non event. But it could be a factor so I would double check.

So for me in addition to the car payment a ZL1 costs roughly $2500 more a year than a SS to run due to tires and gas. Between a ZL1 and a 1LE the cost would be about $1000 as the tire cost is the same on both cars so MPG become the only difference.

Hope this helps. I love my car but be realistic on the cost. The ZL1 is a great car but not worth being broke to own one.

If you buy make sure to post pics!!!

[Diode Dynamics]

Personally,

I am a big fan of buying used, you have to do more research to make sure the car was well maintained. But you usually don't take the big hit on depreciation like the first owner. I imagine it would be tough to find a good used ZL1 that hasn't been enjoyed by its owner, I'm sure you all enjoy yours every time you get behind the wheel! That's what you're supposed to do! Not keep it sealed away and look at it all day, letting it collect dust.

Just my .02 cents

Thanks,
Nick C.