Is this a good deal on this 2015?

[stoopid]

Originally Posted by NJScorpio

But, I thought the ads specify 13-14 models, that are the oldest 15% of stock on a dealers lot.

Yes, on a dealer's lot. If that dealer's sold most of their '13-'14 models, then that leaves '15 models...

[stoopid]

Originally Posted by soflo

Iv only had my jeep for 6-7 months. My interest rate is kind of high because it was pre owned. I didnt know about financing a new car would give you a better rate. Im paying $400 per month including gap insurance on my jeep now.

My credit isnt too good. Its about a 610. It dropped after several dealerships submitted my app to banks because iv been trying to get rid of my jeep. I have a lot of inquires.

I put my jeep up on craiglist and had offers but I had to come up with $3k just to pay it off. But im not making enough money to put 3k up like that.

IMHO it sounds like the Camaro could be a way "out", if that's what you're looking for. You need a decent rate though, and 610 might make that challenging. If you can get below 6% then it could work out.

[TheGhosty]

Look into credit unions, much better rates.

[soflo]

I tried refinancing through my local credit union but they said my length of time being employed isnt long enough.

What about recalls on the camaros?

[Joe M 2012 2SS]

9% is very high. I would check your credit score and see if their are inaccuracies, a lot of people have them and just don't know they do. The repositories will remove them, all you have to do is file a dispute.

[NYCamOwner]

Originally Posted by soflo

I tried refinancing through my local credit union but they said my length of time being employed isnt long enough.

What about recalls on the camaros?

The recalls are not a big deal, although if you bought one from a dealer they would have to be completed before you could take ownership of the Camaro.

[NYCamOwner]

Originally Posted by soflo

Iv only had my jeep for 6-7 months. My interest rate is kind of high because it was pre owned. I didnt know about financing a new car would give you a better rate. Im paying $400 per month including gap insurance on my jeep now.

My credit isnt too good. Its about a 610. It dropped after several dealerships submitted my app to banks because iv been trying to get rid of my jeep. I have a lot of inquires.

I put my jeep up on craiglist and had offers but I had to come up with $3k just to pay it off. But im not making enough money to put 3k up like that.

That's going to be your biggest problem, is getting out of something that you just got into. We hear a lot of people complain about getting into a vehicle and then after less than a year, they want to get rid of it.
If you do this, just make sure that it is what you want, because if it is not, then you could find yourself in the same boat in less than a year with the Camaro, and even further "under-water" with the loan.
Lots of luck in whatever you do.

[trashmanssd]

Stay in the car you are in and follow through with the deal you made, you have already eaten the dealer mark up and the front loaded interest getting out now will cost you more.
If you don't have the 3K to get out of that loan then all you will be doing is rolling that into the new car and being in the hole on that one. Take it as a lesson on loans and life ask before you leap, don't rush out and buy a car and sign away when you don't know what you are signing.

Learn the difference between need and want. I know you wanted the jeep and now you want a Camaro, but you cant afford them if you are stretched so thin that any small hiccup will tank you. What you need is cheap reliable transportation so you can save up some money so you have a safety net for when problems arise. What you need is a car like this Nissan versa ( http://www.nissanusa.com/cars/versa-...an.vlp.button1 ) while it is not sexy or hot or great to drive it is new it has a warranty it is cheap it is a Nissan so it should be reliable.

Here is one for sale in Florida that I would guess would go around 12,750 plus tax and title
http://www.autotrader.com/cars-for-s...88163969&Log=0

[soflo]

I cant keep putting in $20 every day for gas going to work. I wish I could just pay it off and buy an old Honda Accord paid off but I don't make near as much to go that route.

[Xenix]

I don't know how you got 9% for your interest rate, I guess for having low credit score?

I'm a first time buyer and I got 4.5% interest rate for my car. Initially the dealer came to me with the interest rate of 15% (Insanely high) and I said, "I'm not going to even consider 15% let alone 10% if that is all you guys can offer me." Then I told the dealer I want my monthly finance to be not more than $350 and they came back with the 4.5% of the $22k which ended up right around $350 a month. (Note, my credit score is very high, maybe that is why they were able to give me a good rate for a first time buyer.)

I bought a Pre-Owned 2014 1LT RS with 10k mileage on it. ($27k OTD)

I'd suggest you fight for a good interest rate with the dealership and maybe look into a Pre-Own LT trim? Since these would have a higher resale value in the future vs a LS trim.

[PalmerGA]

Originally Posted by soflo

I put my jeep up on craiglist and had offers but I had to come up with $3k just to pay it off. But im not making enough money to put 3k up like that.

This is why I am so adamant about NOT getting "upside down" on your loans... it can hurt to get right side up. I suggest you wait a little while before diving into another loan. Save as much money as you can and once you can afford it, sell it and get it paid off. Then, make a smart loan you can afford without being upside down again.

Many years ago I was upside down for several cars in a row. I finally save enough cash to zero out and traded for a brand new vehicle at ZERO interest. It cost me $5K (every bit of savings I had at the time) but it was worth it.

NEVER AGAIN! Since then I've been able to sock a little away each month and now, if I'm in the mood for some new wheels, I trade for a good deal and pay the rest in cash. No loans for my last three vehicles.

[TheHorse13]

Originally Posted by soflo

I cant keep putting in $20 every day for gas going to work. I wish I could just pay it off and buy an old Honda Accord paid off but I don't make near as much to go that route.

Jeeps are notorious for being horrible on gas. You didn't know this before buying one as a commuter vehicle?

After reading your posts, which all center around being broke, I would stay away from another high interest car loan.

[snarky]

I looked at more than a dozen dealers in FL and DM had some of the better prices and inventory. At one point he had two hot wheels in stock and last I checked to 1LE's with no NPP. If they don't get you in the initial deal they'll try and rape you in finance. On the bright side an entry camaro at 20 grand sure won't depreciate much over time.

[Bulldog3071]

I don't think your interest rate is high 9% because it preowned I got a loan on a preowned at 1.75% it may be due to your credit score and if so you will most likely se the same rate on the Camaro. Don't buy another car while upside down in your current vehicle it just plain stupid, don't understand the purchases people make when it comes to auto loans I guess it's the attitude of they have to have it now.