How much have you saved for your new Camaro?

[TAG UR IT]

Originally Posted by Dragoneye

I've got 10k saved...but college is going to make it difficult to add to that, I think...however - a $20,000 car is cheaper to pay off than a $30,000 car.

Examples of Payment Options
Amount: $20,000.00 $20,000.00 $20,000.00 $20,000.00
Term: 36 months 48 months 60 months 72 months
Rate Type: Fixed Fixed Fixed Fixed
Discount includes automatic withdrawl from checking
Internet Internet Internet Internet
Today's APR:1 5.84 % 6.49 % 6.49 % 6.74 %
Payment: $606.99 $474.21 $391.23 $338.49
Finance Charge: $1,851.64 $2,762.08 $3,473.80 $4,371.28
Total Loan Cost: $21,851.64 $22,762.08 $23,473.80 $24,371.28

[CamaroSpike23]

Originally Posted by TAG UR IT

Examples of Payment Options
Amount: $20,000.00 $20,000.00 $20,000.00 $20,000.00
Term: 36 months 48 months 60 months 72 months
Rate Type: Fixed Fixed Fixed Fixed
Discount includes automatic withdrawl from checking
Internet Internet Internet Internet
Today's APR:1 5.84 % 6.49 % 6.49 % 6.74 %
Payment: $606.99 $474.21 $391.23 $338.49
Finance Charge: $1,851.64 $2,762.08 $3,473.80 $4,371.28
Total Loan Cost: $21,851.64 $22,762.08 $23,473.80 $24,371.28

i like my idea of paying in cash and once the paperwork is signed and the keys are in my hand, and just throw the stack in the air letting bills fly everywhere as I drive thru the showroom window heading off into the sunset

[09z28]

Right now, I have about $8 earned ($24 towards a new Camaro) on my new GM earnings credit card!:eek:

And....considering that my wife doesn't even know I'm planning on getting one yet, I'd say I'm on track. That and the fact that by the time I buy one in 2010 or 2011, I'll have paid off both of our vehicles plus lost the PMI payment on the house, so I'll have an extra $1000/month to put towards it!

Z28, here I come!

[ChevyNut]

ive got 3800 saving 200$ every month since they announced they would be making it. however i hit gold last semester and got on the deans list at school so my parents are paying for school this year. i hope i can get the deans list again then the school pays for everything. god that would be nice. so needless to say all the money i make this year can go towards the camaro.

[TAG UR IT]

Originally Posted by 09z28

Right now, I have about $8 earned ($24 towards a new Camaro) on my new GM earnings credit card!:eek:

And....considering that my wife doesn't even know I'm planning on getting one yet, I'd say I'm on track. That and the fact that by the time I buy one in 2010 or 2011, I'll have paid off both of our vehicles plus lost the PMI payment on the house, so I'll have an extra $1000/month to put towards it!

Z28, here I come!

Ooooh...that's nice! That sounds like a very nice position to be in to get into a Camaro.

CamaroSpike23, paying in cash is the only way my dad's uncle used to buy cars. He would walk in with the cash in hand and get the deal HE wanted. My dad is the same way. He doesn't believe in paying for a loan...and if he has to, will only do a 24 month deal. He hates paying intrest fees. That's why he gave us 20K when we bought our house (it was a gift anyway)...to avoid the mortgage insurance. It was something like an extra $80-$100 a month that was thrown into the trash (banks pocket). We don't get that cash back and it's lost forever.

I'm going to try to work my magic again and get that APR as low as possible. USAA has our KIA at 4.4%. I should be able to do it.

[JWz28]

Originally Posted by TFord

I hear ya JWz28 from the day I signed up I started a thrift savings plan, and a Roth IRA...but you seem pretty savoy, might need to talk to you about some short term investing sometimes

Anytime. Shoot me a PM if you wish.

JWz28.

[bcannan354]

I started saving between $600-$1000 a month over a year ago, plus a few bonuses that I got and any side job money I made. I am hoping on putting 20K down and finance the rest. I do not want to finance any more than 15K, but we will see.

[stevenm357]

I sadly just started a new job as a Realtor a few months ago, Haven't got to put anything away yet. but if things go as i hope they will this year i'll have made pretty good money, and have a good solid income coming from a couple of rental properties. And i am starting a side job, we will see. I'm also working on a savings plan, and have very few monthly bills.

sounds like you folks have some damn good plans!

[Silverado]

Originally Posted by 09z28

Right now, I have about $8 earned ($24 towards a new Camaro) on my new GM earnings credit card!:eek:

That a good way to start....I've used the max possible earnings on both my Silverados ('99 and '06) and on our Tahoe ('03). Watch how much you rack up though. Typically the most GM ever allows you to use is 3500 "points" on any one vehicle and usually it's less. (For my '06 Silverado, I could only use 1500 points.) Also, the points expire after a certain time period (I think 7 years, unless they've changed the plan). Using GM Card points also used to require that you finance it through GMAC as well, but I think they changed that....double check your specific plan.

I've never seen it where you can't use points (you know, where certain vehicles are excluded....i.e. the Vettes, anything coming out right then, etc), so do it, because it's free money. Just don't rack up so many points and then not be able to use them. Get about 3500-4000 points and then switch which card you use. There are other cards out there that you can use (maybe through your bank) that you can rack up bonus points on then you can convert those points to dollars towards a car purchase. Watch the fine print though, look for conditions like the loan for the car has to be financed with them, stuff like that.

[EllwynX]

Originally Posted by Silverado

Using GM Card points also used to require that you finance it through GMAC as well, but I think they changed that....double check your specific plan.

That must have been changed quite some time ago.

Back in 2000 I used what little was on my GMCard ($250 I think) to purchase a brand new 2000 Extended Cab S10 Xtreme LS. It was financed through Citizen's Bank, not GMAC.

How much do I have saved toward the Camaro?

Well, I suppose that depends on how you look at it.

I only have a couple thousand in the bank, but by the time it's released I will have reduced my credit card debt (currently approx. $10,000) to just about Zero. Oh, and I currently have $212 earned on the GMCard.

So, while not a 'savings toward' the Camaro, it will allow me to afford a much larger car payment (while also improving my credit score). My current car payment is $290, and at least $400+ a month to credit cards. That's $690 a month that could theoretically go toward a car payment. But I refuse to go beyond $550 a month...

[Silverado]

[QUOTE=EllwynX;15140]That must have been changed quite some time ago.

Back in 2000 I used what little was on my GMCard ($250 I think) to purchase a brand new 2000 Extended Cab S10 Xtreme LS. It was financed through Citizen's Bank, not GMAC.

QUOTE]

Yeah, I thought they might have, but didn't know when....I was able to use my points on my '06 Silverado, but I was paying cash for it, so I thought it might have been different.

Either way, I advise anyone who can do so to get those GM card points to use...you're already going to charge up stuff anyway right? Might as well earn points towards the new Camaro (or, heaven forbid, a different GM car....lol).

[09z28]

Yeah, I got my GM earnings card specifically for the Camaro, just got it a couple of weeks ago, and I'm using it instead of my debit card. That way, I'm spending the money that I have to anyway on things like gas, groceries, whatever, and saving money at the same time. I pay off the balance every few days so I can keep spending without going over the limit or worrying about racking up too much debt that I can't pay off right away. I'd hate to pay 21% interest (or whatever it is) just because I let it get away from me. My wife and I even record the spending in a register just like our check book, so we can keep track of it. I'd say making $8 in a just over a week or two is pretty good, considering they only give you 1% back, but they triple your earnings towards any new GM vehicle.

Does anyone know if they allow you to pay your mortgage payment with it to earn the 1% back? I've heard of people using their Delta Skymiles Amex card to earn miles by paying their mortgage this way. It's a pretty neat concept, if you ask me, as long as you don't let them charge you any interest on it!

[Silverado]

When I was buying my Silverado, I tried to get the dealer to let me charge it on my GM card so I could earn lots of points towards the Camaro. It would have maxed me out, but I didn't care. Unfortunately, they wouldn't accept credit card as a payment method on the new car....in the parts department or for service sure, but not for actually buying a car....seemed stupid to me, but....

As for your question about paying off a mortgage, I'd say that would be an issue for your lender and your card limit. Check into it. Every little bit helps.

[09z28]

No, I didn't mean pay off my mortgage, my credit isn't THAT GOOD! I just meant make my monthly payments on it instead of by check. We just bought a new house, so my measily little credit limit wouldn't even make a dent in the overall mortgage!