Economy, Camaro, and You - Page 3 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

ShnOmac · 10-10-2008, 02:16 AM

Quote:

Originally Posted by JaysonAych

The economy is actually having an unintended positive effect for me that might delay me getting a Camaro. With the housing prices falling as much as they have, I'm taking a good long look at moving out of this apartment and getting a house now that they're becoming reasonable. Because of the window of opportunity, I need to save for a good down payment. That's going to cut into my Camaro money. In the long run, it'll be better, but I may not be able to get a Camaro until late in the 2010 MY or until the 2011 MY.

Market is definitely a catch 22 right now. Housing prices are down but its hard to get a loan! Hell even Mcdonalds got turned down for a loan recently. Hope it works for you! Buying a house is one of the best investments you can make!

joes3rdcamaro82/91/2010 · 10-10-2008, 02:25 AM

I sell cars... enough said.

Starting to feel the squeeze real hard, just got to work harder. Behind on saving, but if anything it just delays may plans, not eliminate.

ShnOmac · 10-10-2008, 02:29 AM

Quote:

Originally Posted by joes3rdcamaro82/91/2010

I sell cars... enough said.

Starting to feel the squeeze real hard, just got to work harder. Behind on saving, but if anything it just delays may plans, not eliminate.

Since you are actually part of the "market" have you seen a diff in availability of loans to consumers?

*TAG UR IT* · 10-10-2008, 02:37 AM

Hell NO it won't stop me!!!

I'm getting a new Camaro come hell or high water.

JaysonAych · 10-10-2008, 02:40 AM

Quote:

Originally Posted by shnomac77

Market is definitely a catch 22 right now. Housing prices are down but its hard to get a loan! Hell even Mcdonalds got turned down for a loan recently. Hope it works for you! Buying a house is one of the best investments you can make!

Yeah, I am a bit concerned about a loan, but my credit is excellent (when I got this apartment, the property manager said my credit reports were about the best they'd ever seen

) and I've done some preliminary checking with loan offers and I don't think it'll be too much of a problem. Just need to build up some cash and I'll soon be out from under a debt that will give me a lot of money to play with.

My dad came with me to Indy Bash, and on the way out I was telling him how being responsible had just gotten oh so much more difficult.

ShnOmac · 10-10-2008, 02:45 AM

Quote:

Originally Posted by JaysonAych

Yeah, I am a bit concerned about a loan, but my credit is excellent (when I got this apartment, the property manager said my credit reports were about the best they'd ever seen

) and I've done some preliminary checking with loan offers and I don't think it'll be too much of a problem. Just need to build up some cash and I'll soon be out from under a debt that will give me a lot of money to play with.

My dad came with me to Indy Bash, and on the way out I was telling him how being responsible had just gotten oh so much more difficult.

I hear that and i wasnt even there...but i feal like I was ther because of all of you!!!!

joes3rdcamaro82/91/2010 · 10-10-2008, 02:53 AM

Quote:

Originally Posted by shnomac77

Since you are actually part of the "market" have you seen a diff in availability of loans to consumers?

I noticed a difference in loan availability along time ago, now it is just getting worse.

Angrybird 12 · 10-10-2008, 07:33 AM

Quote:

Originally Posted by shnomac77

Really not trying to stir the pot here but....... There is no 100% risk free when it comes to your money. The market is the way it is right now because of banks and bad lending.(granted thats just part of it). Living in California we have witnessed banks going under, large and small. The FDIC only insures up to a certain amount anything over that and you can be screwed!

it was $100,000 per account, and with the bailout it has been raised to $250,000 per account... if you got more than that just go somewhere else and open a new account... I just wish I had the 250K.

CFPC_2010 · 10-10-2008, 07:54 AM

The worst thing to do right now is to stop buying and supporting businesses, large and small. We all work (most of use at least) and the reason businesses have hardship is when people stop spending. I will be buying a Camaro ASAP - I already have money down (#2 in line) and will be placing my order first thing Monday morning for a 2SS/RS fully loaded.

I would suggest that everyone who can support GM by buying a new Camaro do it. I may have to stretch to pay for it but I will be smiling as as I eat my PB&J staring at my new Camaro

ChrisB · 10-10-2008, 10:41 AM

Quote:

Originally Posted by shnomac77

Really not trying to stir the pot here but....... There is no 100% risk free when it comes to your money. The market is the way it is right now because of banks and bad lending.(granted thats just part of it). Living in California we have witnessed banks going under, large and small. The FDIC only insures up to a certain amount anything over that and you can be screwed!

Im not from the US, In Canada the federal goverment guarantees any money you have in the bank as long as its under 100K per account.

eric n · 10-10-2008, 11:38 AM

I've been in business for 24 years. I feel pretty secure, but I'm nervous as hell. I was considering selling my 05 mustang and doing the rest cash. Now I'm nervous about being out of pocket 20+k. Right now we are making great sales due to some tuning up of our marketing procedures. Assuming by Jan my business hasn't crashed, I'll feel comfortable buying the car whether cash or 50
% down.

That said, I don't think we have any idea what is going to happen in this market.

Tantalizer43 · 10-10-2008, 01:10 PM

Quote:

Originally Posted by EllwynX

Not at all. My money isn't tied up in stocks (I do have Deferred Comp which is similar to a 401K, but not a lot in it yet, so am not worried), just a savings and checking account.

And my line of work is considered 'secure' when it comes to applying for a loan. The Department of Corrections will be there regardless of the economy.

True that! And fire and EMS service will be around regardless of economy...

Glad I picked my profession...

View Poll Results: Is the current economy making you hesitant to purchase the new Camaro?
Yes, I am seriously debating whether or not to buy a new Camaro.	12	9.76%
Yes, I am starting to have slight hesitation.	19	15.45%
Yes, I have decided to go with a V6 instead of a V8 now.	5	4.07%
Yes, I have decided to wait for a used 5thgen Camaro with low mileage now.	4	3.25%
No, the economy has not effected my plans to purchase the Camaro at all.	83	67.48%
Voters: 123. You may not vote on this poll

10-10-2008, 07:54 AM	#37
CFPC_2010 VIN #3026 IOM/IO Drives: 2010 IOM Camaro Join Date: Sep 2008 Location: Oviedo,FL Posts: 101 View My Garage	Supporting GM all the way!!! The worst thing to do right now is to stop buying and supporting businesses, large and small. We all work (most of use at least) and the reason businesses have hardship is when people stop spending. I will be buying a Camaro ASAP - I already have money down (#2 in line) and will be placing my order first thing Monday morning for a 2SS/RS fully loaded. I would suggest that everyone who can support GM by buying a new Camaro do it. I may have to stretch to pay for it but I will be smiling as as I eat my PB&J staring at my new Camaro __________________ www.cfpowdercoating.com

10-10-2008, 02:25 AM	#30
joes3rdcamaro82/91/2010 Z28 Hold Out! Drives: 2000 Monte Carlo SS Join Date: Oct 2007 Location: Wichita, Ks. Posts: 351	I sell cars... enough said. Starting to feel the squeeze real hard, just got to work harder. Behind on saving, but if anything it just delays may plans, not eliminate.

10-10-2008, 02:37 AM	#32
TAG UR IT www.Camaro5store.com Drives: 2014 ZL1 #705 Join Date: Jul 2006 Location: SA, Texas Posts: 26,544 View My Garage	Hell NO it won't stop me!!! I'm getting a new Camaro come hell or high water.

10-10-2008, 11:38 AM	#39
eric n US muscle car lover! Drives: 2011 Mustang 5.0 6m, brembos Join Date: Jun 2008 Location: Bakersfield Posts: 82	I've been in business for 24 years. I feel pretty secure, but I'm nervous as hell. I was considering selling my 05 mustang and doing the rest cash. Now I'm nervous about being out of pocket 20+k. Right now we are making great sales due to some tuning up of our marketing procedures. Assuming by Jan my business hasn't crashed, I'll feel comfortable buying the car whether cash or 50 % down. That said, I don't think we have any idea what is going to happen in this market.