How many plan to pay cash for Camaro? - Page 3 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Rodrunner · 12-17-2008, 11:46 AM

Boy this thread sounds familiar. Oh yeah, the last time it turned into a cash vs. loan war. Hmmm.....

nUcLeArEnVoY · 12-17-2008, 12:14 PM

I'm putting 20-25K down. Not quite paying cash, but damn near close. I'd rather have a sense of financial freedom than get it now and be bogged down by credit and high payments.

camaro1 · 12-17-2008, 12:40 PM

im putting $25-$28,000 down

i could have paid cash but i have $7000 in the new engine for it

GrnMchin · 12-17-2008, 01:25 PM

For me it depends on interest rates at the time, say I barrow at 4-5%, but my money can earn equal or greater I barrow the banks money to keep me more liquid even though I currently have the funds to pay it in full. I just like the option to jumping on investments that might make me more in the future.

GOLDDOG · 12-17-2008, 01:32 PM

I am not planning on putting any money down. Personally, I would rather have the cash in hand then pay in full. This way when I drive off the lot and lose 20% of the value of the car, it doesnt hurt as much. The plan is a cd secured loan with a net rate of 2%. Interest paid over the 5 years is $1,400.00+, interest earned on the locked CD is $4,200.00 which nets me $2,800.00 over the life of the loan.

BryGo · 12-17-2008, 03:43 PM

Putting at least 15k down on the car. In chunks, in cash or check, over a few days period.

I am selling off a vintage toy collection of mine and will probably be buying the car outright, depending on when GM builds it.

The IRS tracks anything 10k or over as was mentioned before. So the strategy, if your putting money down, is to do checks 9k or less at a time.

I always envisioned giving a metal briefcase of 10k in 1 dollar bills. (I was once a waiter.)

Speedy1975 · 12-17-2008, 04:23 PM

What's this gubment monitoring payments over $10K stuff? People do this all the time with stock etc.

Maybe if you walk in with a duffel full of cash, but I can't imagine a cashiers check for $30K setting off any red flags with Uncle Sam. Now dropping $10K in cash into a bank will likely raise some eyebrows, but taking money out of of an account via cashiers check is totally different. Plus, if you walk into the dealership with that much cash, something's wrong with you to begin with. They can easily say "we never saw any money" as there's no real paper trail to track it.

Now, having said all that...my plan is to pay cash for the car. However if interest rates are below 4% I may finance half of it to keep my money in the bank.

GothamCamaro · 12-17-2008, 04:34 PM

Quote:

Originally Posted by TaylorRyan74

I am leasing so I am only putting like 2k down. I don't really like keeping cars for too long because the new model comes out and then I want that one. Keep a car for about 5 years max.

Leasing? I thought GM wasn't doing anymore leasing. I can't find the thread on that but I know it was discussed already.

I'm doing the cashier's check of at least $15,000-$18,000, the rest is financing.

FFMaro · 12-17-2008, 05:04 PM

I am putting down 15K

1_2Many · 12-17-2008, 05:06 PM

I'm bringing $12k, but I have an upside down trade-in so I'll only be putting $9-$10k down.

Emjay · 12-17-2008, 05:46 PM

20g's cash the rest ... oh no!

TaylorRyanSS · 12-17-2008, 05:47 PM

Quote:

Originally Posted by GothamCamaro

Leasing? I thought GM wasn't doing anymore leasing. I can't find the thread on that but I know it was discussed already.

I'm doing the cashier's check of at least $15,000-$18,000, the rest is financing.

why wouldn't they do leasing? every other company does? if they don't they might have just lost a sale... and a lot of people lease since it usually means lower monthly payments, so they are crazy not to offering leasing

2010_5thgen · 12-17-2008, 06:04 PM

im planning on putting 30-40% down.

2010_5thgen · 12-17-2008, 06:05 PM

Quote:

Originally Posted by TaylorRyan74

why wouldn't they do leasing? every other company does? if they don't they might have just lost a sale... and a lot of people lease since it usually means lower monthly payments, so they are crazy not to offering leasing

Have you been under a rock for the last 3 months? GM chrysler and ford no longer have leasing. its not that they dont want to offer it but the banks are the problem.

12-17-2008, 11:46 AM	#29
Rodrunner Senior Member Drives: 2010 SS/RS, '06 350Z Join Date: Oct 2008 Location: So. Maryland Posts: 2,326	Boy this thread sounds familiar. Oh yeah, the last time it turned into a cash vs. loan war. Hmmm..... __________________ 2SS/RS - Black/Black - CGM Rally Stripes - Auto - VIN 10171

12-17-2008, 12:40 PM	#31
camaro1 Drives: 550+RWHP 2010 camaro Join Date: Sep 2007 Location: wisconsin Posts: 1,588	im putting $25-$28,000 down i could have paid cash but i have $7000 in the new engine for it __________________ 415ci stroker, TVS 2300 Magnacharger, cnc heads, cam, yank ss3200 converter, Kooks long tubes, Bwoody true cold air kit, ZL1 Pump, magnaflow 3" cat-back, lowering springs,BMR control arms and tie rod bars, 3.73 gears, diff mounts, RX can, ADM fuel controller

12-17-2008, 04:23 PM	#35
Speedy1975 FASTER! Drives: Challenger Hellcat, 2SS Camaro Join Date: Apr 2008 Location: Middle Tennessee Posts: 2,244	What's this gubment monitoring payments over $10K stuff? People do this all the time with stock etc. Maybe if you walk in with a duffel full of cash, but I can't imagine a cashiers check for $30K setting off any red flags with Uncle Sam. Now dropping $10K in cash into a bank will likely raise some eyebrows, but taking money out of of an account via cashiers check is totally different. Plus, if you walk into the dealership with that much cash, something's wrong with you to begin with. They can easily say "we never saw any money" as there's no real paper trail to track it. Now, having said all that...my plan is to pay cash for the car. However if interest rates are below 4% I may finance half of it to keep my money in the bank. __________________ -Speedy 2016 Go Mango Challenger Hellcat (PB E.T. in 1/4 Mile 9.83 @ 140MPH)

12-17-2008, 05:06 PM	#38
1_2Many Drives: 2008 Suzuki SX4 Join Date: Oct 2008 Location: SoCal Posts: 785 View My Garage	I'm bringing $12k, but I have an upside down trade-in so I'll only be putting $9-$10k down. __________________ We are the early orderers...we are GM's voluntary guinea pigs and their free source of feedback. How will we be thanked?

12-17-2008, 05:46 PM	#39
Emjay Camaro Obsessed Drives: 1973 z28 1989 iroc 1995 z28 Join Date: Dec 2008 Location: $trong Island, New York Posts: 213	20g's cash the rest ... oh no! __________________ 1989IROCZ1995Z28 Camaro Girl

12-17-2008, 12:14 PM	#30
nUcLeArEnVoY Oldbie that nobody knows Drives: 2011 1SS/RS M6 Join Date: Jun 2008 Location: Homestead, FL Posts: 3,459 View My Garage	I'm putting 20-25K down. Not quite paying cash, but damn near close. I'd rather have a sense of financial freedom than get it now and be bogged down by credit and high payments.

12-17-2008, 01:25 PM	#32
GrnMchin Not easy being Green Drives: 67 Nova SS Join Date: Nov 2008 Location: Olympia, WA Posts: 2,256	For me it depends on interest rates at the time, say I barrow at 4-5%, but my money can earn equal or greater I barrow the banks money to keep me more liquid even though I currently have the funds to pay it in full. I just like the option to jumping on investments that might make me more in the future.

12-17-2008, 01:32 PM	#33
GOLDDOG Drives: 2010 2LT/RS & 08 JSB Corvette Join Date: Aug 2008 Location: Indiana Posts: 275	I am not planning on putting any money down. Personally, I would rather have the cash in hand then pay in full. This way when I drive off the lot and lose 20% of the value of the car, it doesnt hurt as much. The plan is a cd secured loan with a net rate of 2%. Interest paid over the 5 years is $1,400.00+, interest earned on the locked CD is $4,200.00 which nets me $2,800.00 over the life of the loan.

12-17-2008, 03:43 PM	#34
BryGo Moving up in the world... Drives: 2009 Cadillac CTS, 2010 Camaro Join Date: Nov 2008 Location: SoCal Posts: 199	Putting at least 15k down on the car. In chunks, in cash or check, over a few days period. I am selling off a vintage toy collection of mine and will probably be buying the car outright, depending on when GM builds it. The IRS tracks anything 10k or over as was mentioned before. So the strategy, if your putting money down, is to do checks 9k or less at a time. I always envisioned giving a metal briefcase of 10k in 1 dollar bills. (I was once a waiter.)

12-17-2008, 05:04 PM	#37
FFMaro Drives: 91' Chevy Truck K1500 Join Date: Oct 2008 Location: Florida Posts: 37	I am putting down 15K

12-17-2008, 06:04 PM	#41
2010_5thgen Drives: 2012 Porsche Panamera 4 Join Date: Nov 2007 Location: Ohio Posts: 3,274 View My Garage	im planning on putting 30-40% down. __________________ Brixton Forged CM10 Wheels IN STOCK!!! RF7 SOON!!!! Camaro/M3/M4 wheels in stock High Gloss Titanium

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