Down payment, how much?

[cyrusthevirus]

Originally Posted by 68vert

If GM puts out a car this much $$ over its competition, it will have sales issues.

3 more grand gets u a cts-v..

[ex-SS-ve]

one time down payment of 60k , cutting a check for it soon as it shows up on the lot. . did it with every other car i have in my collection.

[Cully]

There are local credit unions around here that have loan rates as low as 1.9 for 60 months. My SS I financed for 72 at 2.45% last october. There really are some great deals on money if you look around. ZL1 is out of my comfort area for sure, maybe if I didn't have a huge house payment that would be different.

[1BADZL1]

Originally Posted by toilets

There would be no way I'm dropping 20k, 40k or pay for this car in cash. Id rather keep that money in my mutual funds and make an 8% average return on it rather than waste it on something that will ultimately lose value...

You mentioned financing the whole thing...
$858.93 for 6 years?
Thats a 60k car with nothing down and 1% interest......
$1,000 note.....

Not me... no way..

[1BADZL1]

Originally Posted by b4z

$523mo for 5 years gets old real fast.

emphasis on REAL.....lol

[1BADZL1]

Originally Posted by fiascoes1

Yeah I went to my credit union a few weeks ago, (before lap time was announced and thought a fair price would be 50k) I sat and explained to a rep that i planned on borrowing no more than 40k. I was approved instantly and at 40k for five years my payment would be $700 with 2.9% the cost for financing would be around 3k, so 43k roughly plus 15k down payment, I figured would cover the entire cost.

hehehehe...
Im not laughing AT you I promise... I am laughing with you here..
The only red flag i heard on my end was this sentence...
"You are approved for the loan at whatever APR % your credit line is at the time we give you the loan." I said is it negotiable? They said "whatever APR % your credit line is at the time"

Does this sound right to you guys? I know the interest at a dealership that is financing a vehicle is nego, but what about other financial institutions?

[1BADZL1]

Originally Posted by Z4me

I understand where your coming from and it really depends on your own personal situation really. For me my house will be paid off on like 10 months from now. I will be putting down like 40k and will probably owe between
15 and 20k on the car. I can get a lower rate through my home using my home equity and pay that off in a matter of a year or year and a half. Most car dealerships want at least three years of payments. I did that with my
last car, mainly to help establish a credit record for my wife. That car is paid off in full and her credit soared up because of it. Like I said it depends on your situation, but I agree for many borrowing against your house can
be very risky.

So still a little confused here. You are using your house equity for collateral
on your credit (bank) loan? I have never heard of a line of credit of any sort without some sort of collateral involved.

[1BADZL1]

Originally Posted by ex-SS-ve

one time down payment of 60k , cutting a check for it soon as it shows up on the lot. . did it with every other car i have in my collection.

Thats the way to do it for sure. How many cars do you own presently just curious?

[daveagogo1]

I guess i will say it. If you are really worried about the payment difference between say $500 and $800 a month then you are way overspending IMO. That's $75 a week extra. If your budget is too tough to handle that then this is not the car for you or any other 50 - 60k car.

When your still working at the age of 75 as a Walmart greeter to make ends meet you will think back and say man i should have saved my money instead of buying that old ZL1 back in the day.

[fiascoes1]

Originally Posted by MY68RS

When you are feeling saucy...
You got an extra $60k I can have? I wont ask to borrow cause I want mine paid off with no worries!

just give me 5k and be :party0038:

[fiascoes1]

Originally Posted by 68vert

If GM puts out a car this much $$ over its competition, it will have sales issues.

The reason I say 60k out the door is; say the car costs 54k add about 5k for taxes, add another say 2k for GG tax, and if you finance, add another 5k, therefor your right around 66k.

[fiascoes1]

Originally Posted by payne.jeremy82

I am still being driven around because I am still waiting for full sensation in my feet to return with most new cars there is not a lot of resistance in the pedal and i cant control how hard i push the throttle so I dont know when I will get that control back but when I do I should have a ZL1 to drive

Good luck, I hope you have a speedy recovery! Just in time for the zl1

[fiascoes1]

Originally Posted by MY68RS

hehehehe...
Im not laughing AT you I promise... I am laughing with you here..
The only red flag i heard on my end was this sentence...
"You are approved for the loan at whatever APR % your credit line is at the time we give you the loan." I said is it negotiable? They said "whatever APR % your credit line is at the time"

Does this sound right to you guys? I know the interest at a dealership that is financing a vehicle is nego, but what about other financial institutions?

I dont think you can negotiate too much! but usually other financial institutions are lower then the dealers rate anyway

[1BADZL1]

Originally Posted by daveagogo1

I guess i will say it. If you are really worried about the payment difference between say $500 and $800 a month then you are way overspending IMO. That's $75 a week extra. If your budget is too tough to handle that then this is not the car for you or any other 50 - 60k car.

When your still working at the age of 75 as a Walmart greeter to make ends meet you will think back and say man i should have saved my money instead of buying that old ZL1 back in the day.

I will work at walmart if I have to. I plan on driving there to meet my competion anyway... Overspending? You better believe it!
They are not going to put me in the ground where I did not try to get everything out of life... I know I can't take it with me and why would I wanna wait till im 75?
Not a chance...
Ill sleep in my ZL1 if I have to!
j/k

the $3600 a year difference you mentioned I will spend it whever else I want...