Wanting to buy a V8! Questions...

[Nutbutt]

From your post it looks like you are looking at a V6. Nothing wrong with getting the V6 then moving up to and SS in the future or moding your v6 with a supercharger to get the power of an SS and saving some cash in the process. There are many SC options around the corner for the V6.

[upflying]

Originally Posted by sspolo

I will probably get a job by late January and should be able to afford a Camaro by May

A good rule of thumb is don't go into debt right after getting a new job. Wait 12 months before making a big purchase. If something goes bad with your new job, it will happen in the first 12 months.

[Ringo64]

Originally Posted by upflying

A good rule of thumb is don't go into debt right after getting a new job. Wait 12 months before making a big purchase. If something goes bad with your new job, it will happen in the first 12 months.

I heard first 6 months, usually that's when your "probation" time is up plus another 3 months but can't hurt to wait a year especially in today's world of economic woes

[lurchsSS]

It will be good to have a large down payment, but don't break the bank with it. Start another account with $2-3K, so once you get a job and put some $$ every week into it for a monthly car payment you'll be set. That way if your bills/expenses run you low on $$ in the every day account, the car payment isn't late/missed.....BAD start for credit!
Just because your dad might co-sign for you, it's YOUR total responsibility to make payments and stay on top of things. You can foul his credit too if he co-signs and you fail with payments.
The roof over your head, your transportation to/from work are financial priorities.
Get one heck of a bumper to bumper warranty on your next purchase so there isn't such a risk of costly repairs, otherwise the repairs will eat your bank savings up quick and then you will have a very expensive driveway ornament. Then for driving less than 6K miles a year, MPG shouldn't be a huge concern.

Good luck!

[KaBoom1701]

I love my V6!

It's the perfect blend of sports car and gas MPG (showing 21-22 on the dash). Compaired to what you used to driving this thing will be a beast. Just use common since when driving and get used to the extra HP!

Good luck and enjoy!

KaBoom

[Mr_Draco]

Originally Posted by sspolo

Hey everyone!

Well, as it says on my bio, I don’t have a car at the moment, but things seem to be getting a bit better! I will probably get a job by late January and should be able to afford a Camaro by May (since I have a little bit saved up from before) Before I created this account I was set on a Camaro LS, after spending many days here I now MUST have a SS!

Just a little about me so you guys know where I am at. I am 22, started driving at 18 and have around 20,000 miles of experience. I am not someone that drives fast; I have been told I drive like a grandma. I rarely go above the speed limit and I rarely accelerate hard when the light turns green. Aside from a different exhaust, I probably will leave it stock. Some might ask “why a V8?”, but I just fell in love with the sound .

My previous car was a manual FWD 2002 Volkswagen Golf 2.0 with a measly 115HP :(. I had it for a little over two years. So a SS will definitely be a BIG change for me, so I have a few questions and hope I can get some feedback!

Question #1. I did some quick calculations where I compared the gas usage (100% city and 100% highway) of the Golf, V6 Camaro and the V8 Camaro.

I took 780 miles, divided it by 16 miles/gallon and then multiplied it by $4 a gallon and got the answer. Did I do the math correct? If so, gas should be not be a problem for either scenario

Scenario. 4$/Gal. 780 miles.
Golf 21/28 = $148.57/$111.43
Camaro V6 17/28 = $183.53/$111.43
Camaro V8 16/24 = $195.00/$130.00

Scenario 2. 4$/Gal. 415 miles.
Golf 21/28 = $79.050/$59.29
Camaro V6 17/28 = $97.650/$59.29
Camaro V8 16/24 = $103.75/$69.17


Question #2. Now, as you guys know, I come from a car with 115HP so the SS with 426HP is a HUGE difference to me. So “with great power comes great responsibility” :p

These are some of the "craziest" things I did with the Golf, is it possible to do them with a Camaro without losing control?

1. Downshift and accelerate to pass a car.
2. At times, I could turn on curves at a slightly above average speed without losing grip or control.
3. Accelerate from a dead stop with flowing traffic to match their speed

What things should I be precautions of with that much HP and Torque and a RWD? Additionally, I do live in a place where it is usually raining.


Question #3. If I do get the SS it will probably end up being used, so more than likely it won’t come with any warranty. I have been looking at prices and I can afford a 2010/11. I have tried to review problems and I found the following:

1. Timing chain is weak and might need to be changed
2. Clutch has problems
3. Paint (sucks, but not concerned much)

As I said before, I won’t be racing, so I won’t be forcing the motor too much and will probably drive less than 6,000 miles a year. The problems that concerns me the most are the first two since they are expensive to fix (for me)
Should I be worried about them?
Do the first models have any other issues I should be aware of?
Also, is there a VIN number I should steer away from?

Question #4. This is more of a financing question.
I don’t have any credit history, so the Camaro will be the start of it and I am also expecting a high interest rate. (my dad might cosign)
At the most, I am planning to get a car under $28,000 and be able to give a $10,000 down payment.
Is it smart to give the down payment all at once, or just a partial down payment and extra payments throughout the months?

As far as I know, these are all the questions I have (for now at least :p) Thank you all who help me out! I know it’s a semi long read but I like to research a bit before I buy.

Before you decide you really need to know how much you will consistently bring home every month. For an SS with the amount you're putting down I would expect $400 a month car payment depending on your interest rate. Also insurance companies LOVE young guys with sports cars. At 22 with a SS, expect a $400 a month insurance payment because since you are getting a loan you will be required to carry full coverage. Now can you afford $800 a month just on your car for the next 5 years, not including gas and other expanses?

[KaBoom1701]

My V6 2013 RS cost me around $50 per month in ins...but I'm 36 with 4 kids so meh! lol

KaBoom

[skibik]

First I will say I have the V6 and I love it. Second, I took an SS out for a test drive long before looking into the V6. Do yourself a favor, before eliminating the V6 test drive them both. Just because you fell in love with the exhaust should not be the deciding factor. I have been around cars for years and there is no mistake about the sound of the V8 and yes I love the sound myself but I bought what I could afford and do not regret it one bit. I hate to say it but you are going from crawling to walking with no baby steps in between.

FYI on V6:
2010 304 HP
2011 312 HP
2012 323 HP

Insurance, go to your place of insurance and ask for the premiums before you go out and buy so you know what you are going be paying. SS is going to cost more and since you are at a young age it will be a lot more. Been there done that!

MPG, even trying to figure 100% city or 100% HWY and the chances are you are going to be doing both on the same tank, with that said guessing you will be at around 20 MPG overall with the V8. Since the climate changes, last summer I averaged high 27's to low 28 MPG average and topped out at 29.1 MPG. Those tanks I was not exactly easy on the throttle. Since this is now my DD and it is cold out I am averaging 22 MPG. Note, small towns here so my driving is about 80% plus HWY and 20% maybe less city.

Mechanical issues, you are buying a 2 to 3 year old car, chances there is no bumper to bumper left but you should still have some drive train warranty.

Before ruling out the sound of a V6 check this out. sounds better in person.



JMO and good luck with your purchase on which ever one you buy.

Dean.

[King Sun]

Originally Posted by upflying

A good rule of thumb is don't go into debt right after getting a new job. Wait 12 months before making a big purchase. If something goes bad with your new job, it will happen in the first 12 months.

I usually don't agree with what you say all the time but this is the best piece of advice in this thread yet financially

[ckaram]

Definitely drive both cars you're considering as already said.

You'll find that while SS M6 is a ton of fun with lots of sound and great torque, it's not an animal that you will lose control of if you downshift and nail it....as long as you keep the nannies on (traction control, stabilitrak). Now a ZL1, that's a different story. You have to drive smart and be smart. The fact that you're doing this kind of analysis is a good sign.

I daily drive mine all year around. The way it's geared you can granny it you'll eek pretty good gas mileage for a 426 HP beast. Then when you want to unleash the Kraken you certainly can

Good luck with whatever you decide

[Mdipinto]

I do say go and get the Camaro, but get the V6.
If money could be a problem, car payment is not all.

Car payment, gas, maintenance, insurance(a big one mostly for your age). These are the big ones to worry about.
I recommend buying a new V6 or slightly used V6, buy it with all the options you want.

I don't have a problem posting my money, I don't care.
I drive a 2010 2SS, which I paid 30000 for the car, plus 4000 for taxes and registration and all the rest of paper work.
I have a loan with 5.46% interest, with monthly payment of 500 for 6 years, and I put only 4000 down(pretty much saying nothing).
Here is what I pay
500 car payment
140 insurance
120 gas(30 a week, not counting when I do my long distance trips)
~70 maintenance(depends on how much care you take of it, as to washing, fluids, tires, and anything you can think of).
=830 about
And I have a really good plan for insurance as I have Geico and being military and not requiring medical coverage helps.

Any questions about what I put in the car, just ask. I don't have a problem answering it.

[TurboSS_]

i wouldn't wait to get a v6....you'll want a v8 a week later. i'm even younger than you and my car has gotten me into trouble already....*see for-sale ad* but if you really ARE buying a camaro, don't get a v6...just go all out now and BE CAREFUL HOW YOU DRIVE!!!!

[sspolo]

Wow, Thanks guys!! I didn't expect this much feedback!

So the car itself doesn't really have many problems nor would I have a problem with gas or the driving experience, it seems it will actually be better!

The problem seems like it will be financial.
So by the looks of it, many folks are telling me to get the V6 for now, and it does make sense, money might end up being a problem.
I estimate I can afford around $600-$700 a month for the car, but I will work a few months to make sure I can afford that easily and pass that probation many of you said.

Plus, as many said, a V6 has a lot more power then what I am used to, so it still should be fun! With a V6 I could hopefully save some more and afford a V8 gen 6 Camaro!

But thanks guys!! You were all REALLY helpful, this is by far, the best Camaro forum I've seen.

[sspolo]

Originally Posted by Mdipinto

I do say go and get the Camaro, but get the V6.
If money could be a problem, car payment is not all.

Car payment, gas, maintenance, insurance(a big one mostly for your age). These are the big ones to worry about.
I recommend buying a new V6 or slightly used V6, buy it with all the options you want.

I don't have a problem posting my money, I don't care.
I drive a 2010 2SS, which I paid 30000 for the car, plus 4000 for taxes and registration and all the rest of paper work.
I have a loan with 5.46% interest, with monthly payment of 500 for 6 years, and I put only 4000 down(pretty much saying nothing).
Here is what I pay
500 car payment
140 insurance
120 gas(30 a week, not counting when I do my long distance trips)
~70 maintenance(depends on how much care you take of it, as to washing, fluids, tires, and anything you can think of).
=830 about
And I have a really good plan for insurance as I have Geico and being military and not requiring medical coverage helps.

Any questions about what I put in the car, just ask. I don't have a problem answering it.

I really wouldn't be able to afford a $500 car payment at this time I would need to be around 250-350 at the most, but thanks! those numbers give me a pretty good idea of what to expect