Financing Information? - Page 2 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Douge · 04-11-2009, 11:05 AM

If you "got in over your head" with a credit card, I would think long and hard about financing a car. Along with the monthly payment, your contract will stipulate insurance coverage for the term or the loan.

If you were serious about making it comfortably affordable, than this is my opinion. Make a large enough down payment that you can finance the balance for 36 months with a payment that you would be able to make for 6 months if you lost your primary source of income. Otherwise pay cash for a nice used car and call it good.

Leatherette · 04-11-2009, 12:25 PM

You probably don't want to hear this, but as a retired teacher I will give you this advice: put a little aside each month and keep all your bills paid up; join a credit union (they offer GM supplier discounts, often have lower rates, and may be easier to get a loan from than a conventional bank). But perhaps now is not really the time for you to be investing $35k in a car. If you put $$ aside for a year or two then relooked a camaro purchase, I think you'd be in a much better position to get your loan and not have to worry about a lot of other issues.

perfxn · 04-11-2009, 12:36 PM

i have a similiar situation, im 22 got a 98gt but the loan ws on 5gs. went to my credit union said my score was good enough experian734 but i dont make enugh a yr or had a large enough loan in the past, so i need my step dad to co-sighn but kool thing is since im prime i can get the low rate of 4.5 and if i do direct deposit with them 4.0!! hope this helps. o yea i have 9,000 in revolving credit so that helps my score and made 29,000 last yr

04-11-2009, 11:05 AM	#15
Douge Eurotrash Connossieur Drives: 1985 Mercedes 500SEL Join Date: Mar 2009 Location: Chandler, AZ Posts: 188	If you "got in over your head" with a credit card, I would think long and hard about financing a car. Along with the monthly payment, your contract will stipulate insurance coverage for the term or the loan. If you were serious about making it comfortably affordable, than this is my opinion. Make a large enough down payment that you can finance the balance for 36 months with a payment that you would be able to make for 6 months if you lost your primary source of income. Otherwise pay cash for a nice used car and call it good. __________________ 2011 Camaro Convertible 2SS, Imperial Blue/Gray Silver Rally Stripes

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04-11-2009, 12:25 PM	#16
Leatherette Drives: 07 Mustang GT Join Date: Mar 2009 Location: Florida Posts: 7	You probably don't want to hear this, but as a retired teacher I will give you this advice: put a little aside each month and keep all your bills paid up; join a credit union (they offer GM supplier discounts, often have lower rates, and may be easier to get a loan from than a conventional bank). But perhaps now is not really the time for you to be investing $35k in a car. If you put $$ aside for a year or two then relooked a camaro purchase, I think you'd be in a much better position to get your loan and not have to worry about a lot of other issues.

04-11-2009, 12:36 PM	#17
perfxn Drives: 2SS RS Join Date: Oct 2008 Location: portland, OR Posts: 305	i have a similiar situation, im 22 got a 98gt but the loan ws on 5gs. went to my credit union said my score was good enough experian734 but i dont make enugh a yr or had a large enough loan in the past, so i need my step dad to co-sighn but kool thing is since im prime i can get the low rate of 4.5 and if i do direct deposit with them 4.0!! hope this helps. o yea i have 9,000 in revolving credit so that helps my score and made 29,000 last yr