THREW IN THE TOWEL

[Blownhotrodder]

Although I do somewhat agree with you I think holding yourself to high payments for a shorter timeframe is risky right now. If the apr isnt that much diffrent from the 48 to 72, get the 72 and then just pay more principal every month. Then if something happens or you loose your job you have less money you HAVE to pay every month. Bad thing about financing for a long term is you will be upside down for awhile so if you have to sell, vehicle gets totalled, or want to trade you will owe money upfront. Get GAP if you finance for a long term.

[Zabo]

I may be doing the same. Found a 3.9K T/A with 77.8K on the clock. Black Auto, tan interior methinks...

I have 1.7-1.8K in cash on hand.. I think that may talk some big talk.

[garagelogic]

Originally Posted by Blownhotrodder

Although I do somewhat agree with you I think holding yourself to high payments for a shorter timeframe is risky right now. If the apr isnt that much diffrent from the 48 to 72, get the 72 and then just pay more principal every month. Then if something happens or you loose your job you have less money you HAVE to pay every month. Bad thing about financing for a long term is you will be upside down for awhile so if you have to sell, vehicle gets totalled, or want to trade you will owe money upfront. Get GAP if you finance for a long term.

I'm pretty sure gap insurance only covers you if there is a total loss on the vehicle, not if you lose your job or become unemployed and can no longer afford the payments.

Quite frankly, if you are even slightly worried about your job or income, looking to buy a new car is not something you should even be considering, let alone a car who's cost requires you to finance for a long term.

[Speedy1975]

Originally Posted by garagelogic

In my opinion, anybody who is making their car purchasing decision based around what their payment will be is not too bright. The only thing that you should base your decision on is how much you will end up paying in total in for the vehicle in question. The fact that you can now get 72 months + financing on a vehicle, is just crazy. If you can't afford to pay the car off in 48 months or less, it's probably a pretty good indication you cannot afford the vehicle you are looking to buy.

Sorry if that offends anyone, but that's just how I feel.

I agree. There's a gal on the Challenger forum that financed her RT for 84 months! That's just insane.

[Blownhotrodder]

Originally Posted by garagelogic

I'm pretty sure gap insurance only covers you if there is a total loss on the vehicle, not if you lose your job or become unemployed and can no longer afford the payments.

Quite frankly, if you are even slightly worried about your job or income, looking to buy a new car is not something you should even be considering, let alone a car who's cost requires you to finance for a long term.

Yes, you are correct on the GAP insurance. That is what I was saying. It only covers you in a total from what the insurance company deems your vehicle worth to what you actually owe. If in fact you do owe more than its worth.

[radz28]

Originally Posted by dreamcamaro09

Thank you. i thought i would post that and get rideculed off the site.

There shouldn't be anything but poking a little fun here. Stick around though. Maybe you'll change your mind later

Originally Posted by SoFlaZ

Ridicule ridicule ridicule lol

I hope you enjoy your purchase. Sounds like dealers are DYING to get those things off the lots lol.

Dont forget to post some sick burnouts n stuff.

Originally Posted by spi

i'm glad you made a choice that keeps you happy...i just hope when you see the camaro you ordered out on the roads you dont have think bad about your decision

Originally Posted by SSOOCH

Cool man. We'll see you at the next red light!!

Originally Posted by ZombieEatsYou

Hope you enjoy your new ride.

But now you must change your avatar, sig and user name before the sun goes down.

Originally Posted by Speedy1975

Then you better measure for a Camaro. When looking at the specs, the Challenger isn't that much bigger (a few inches is all).

I picked up a Challenger as well last week. The prices are just TOO good to pass up. Mine was nearly fully loaded and I got it for $33,400. The only things missing were a sunroof (didn't want) and the mygig thing with nav (didn't want). It's a 6spd manual with RT hood stripes, leather, and everything else. It's an awesome car to drive and really gets the attention. I actually stopped traffic at Walgreens and had people getting out of their cars to take pictures. Kind of embarassed me a little.

I think the Camaro is nice, but not necessarily better in every way. The Camaro is more sports car where the Challenger is more of a muscle car. So it really depends on what you want. The Challenger will DEFINITELY be more rare. They're only builinga bout 20K of them this year compared to 100K or more Camaros.

Congrats on the purchase....check out www.challengertalk.com. It's a pretty good forum and I've already started my list of mods to easily hit about 425HP (exhaust and CAI).

See - you gotta' do what you gotta' do. What - you want to put yourself out in the street because your car payment is killing you? EEK!!! Speedy' makes great points here, and to you for finding something that you're happy with

Originally Posted by garagelogic

I'm pretty sure gap insurance only covers you if there is a total loss on the vehicle, not if you lose your job or become unemployed and can no longer afford the payments.

Quite frankly, if you are even slightly worried about your job or income, looking to buy a new car is not something you should even be considering, let alone a car who's cost requires you to finance for a long term.

[Silver Streak]

Originally Posted by garagelogic

I'm pretty sure gap insurance only covers you if there is a total loss on the vehicle, not if you lose your job or become unemployed and can no longer afford the payments.

Quite frankly, if you are even slightly worried about your job or income, looking to buy a new car is not something you should even be considering, let alone a car who's cost requires you to finance for a long term.

Financing choices are kind of personal. I don't think you can say what is right or wrong for their own personal situation. There have been many cars paid for in many different ways. JMO

[BigTrap1967]

Originally Posted by dreamcamaro09

Just bought a 2009 challenger r/t for what i was going to buy my v6 camaro for. i love it so far and no regrets yet. i will see how i feel when the camaro finally comes out though.

I had a dealer offer me a 2008 challenger srt8 with 1100 miles on it for 34k.the car is black with the sunroof and nav. Very nice car but i am one to believe all muscle cars should all have a stick in them.Great deal hard to pass up!!

[Blownhotrodder]

In reality, considering the prices of almost anything right now(especially houses and automobiles) you are pushed more to finance for longer terms. Trends now are to finance for longer terms and keep those things for longer periods. Many circumstances have driven the prices to unaffordable levels. I dont know about any of you but anytime I have a commitment every month to pay for something(house, transportation) I worry about where the money is gonna come from to cover my obligations. Doesnt mean I shouldnt have bought them, some things are a necessary evil. If only it were all so easy.

[garagelogic]

Originally Posted by Silver Streak

Financing choices are kind of personal. I don't think you can say what is right or wrong for their own personal situation. There have been many cars paid for in many different ways. JMO

Sure I can. There have been many houses purchased and paid for in many ways, too, but look where that has gotten some people. Being fiscally responsible is black and white. The problem is that too many people no longer know the difference between a want and a need.

Just because some can do something (i.e. get long-term financing on a car) does not mean it is the wise thing to do. Too much can change in a long term and a decision that seemed okay at the onset may turn out to be a bed one a few years down the road. Unfortunately, not too many people consider the long term implications and simply have the "I want it all and I want in now" mentality.

If you need proof that this kind of thinking will always lead to a bad end, just look around at the American economy today. I can't think of one single person I have ever met who was forced into taking out a home loan, let alone one with no money down and with an adjustable rate for 30 years, yet hundreds of thousands of people are suffering today because they never considered that there might be an economic downturn in that 30 year period or were led into believing that property can never go down in value.

People need to get over the idea that they are entitled to anything and start using their God-given common sense when making financial decisions. Sure, you need a roof over your head and transportation, but just because you have that need it does not mean it requires a 2000+ sq ft brick home or a new car.

[1_2Many]

Originally Posted by HPlover

Congrats on the Chally. Remember, its all one's opinion and personal taste. Don't let anyone tell you that you made a mistake.

I like the big three muscle cars for different reasons. I would have all three if had the money.

No regrets bro!

PS. Whoevery said 27K for 48 months at 0% is 400.00 is incorrect. Its around 550.00 with nothing down.

Its a good deal for the 0%, but your not looking at much more of a payment with 60 months for a camaro and 6.7% financing. 600.00 for a 30K auto.

I never said 27k @ 0% for 48 months was $400....I simply said my car payment would be $400. You didn't know how much I was putting down. With my down payment that's about where I'd be.

BUT...back to reality here people. Just for shits and giggles I just emailed half a dozen dealers in my area regarding a Challenger R/T for under $30k. In 2 hours I've only had 2 responses. One dealer said he can get me a manual transmission R/T with leather, but it has a $3k markup which is non-negotiable. The other said he can do it, but it is a "base model" auto with cloth and no options.

Meh...if I'm going to end up paying $35k for an R/T with same options as my Camaro why would I?

Another interesting (and angering) thing the first dealer told me was "everyone who ordered a Camaro is switching to the Challenger because GM might not even make a V8 Camaro afterall...they will all be V6's and the V8 will go in the Firebird"....lol I tried not to laugh as I hung up on him.

[1_2Many]

Originally Posted by garagelogic

Sure I can. There have been many houses purchased and paid for in many ways, too, but look where that has gotten some people. Being fiscally responsible is black and white. The problem is that too many people no longer know the difference between a want and a need.

Just because some can do something (i.e. get long-term financing on a car) does not mean it is the wise thing to do. Too much can change in a long term and a decision that seemed okay at the onset may turn out to be a bed one a few years down the road. Unfortunately, not too many people consider the long term implications and simply have the "I want it all and I want in now" mentality.

If you need proof that this kind of thinking will always lead to a bad end, just look around at the American economy today. I can't think of one single person I have ever met who was forced into taking out a home loan, let alone one with no money down and with an adjustable rate for 30 years, yet hundreds of thousands of people are suffering today because they never considered that there might be an economic downturn in that 30 year period or were led into believing that property can never go down in value.

People need to get over the idea that they are entitled to anything and start using their God-given common sense when making financial decisions. Sure, you need a roof over your head and transportation, but just because you have that need it does not mean it requires a 2000+ sq ft brick home or a new car.

I hate to rain on your parade, but nobody wants counseling from a man who has everything already. Good for you buddy, but we'll be OK on our own. I've seen your "guidance" in other threads and it's just hard to swallow when seeing your 700+hp GT500 in your sig. How very moderate of you.

If car manufacturers relied on everyone to be as rich as you and pay in cash then there would be no need for banks and no cars would get sold. It's how the world turns...it just so happens the real-estate market crashed and it blew the economy. Don't blame this recession on bad "common sense" when you know it is due to the housing situation.

[Silver Streak]

Originally Posted by garagelogic

Sure I can. There have been many houses purchased and paid for in many ways, too, but look where that has gotten some people. Being fiscally responsible is black and white. The problem is that too many people no longer know the difference between a want and a need.

Just because some can do something (i.e. get long-term financing on a car) does not mean it is the wise thing to do. Too much can change in a long term and a decision that seemed okay at the onset may turn out to be a bed one a few years down the road. Unfortunately, not too many people consider the long term implications and simply have the "I want it all and I want in now" mentality.

If you need proof that this kind of thinking will always lead to a bad end, just look around at the American economy today. I can't think of one single person I have ever met who was forced into taking out a home loan, let alone one with no money down and with an adjustable rate for 30 years, yet hundreds of thousands of people are suffering today because they never considered that there might be an economic downturn in that 30 year period or were led into believing that property can never go down in value.

People need to get over the idea that they are entitled to anything and start using their God-given common sense when making financial decisions. Sure, you need a roof over your head and transportation, but just because you have that need it does not mean it requires a 2000+ sq ft brick home or a new car.

Thanks for the lecture! That will fix it. BTW I am paying cash for mine, does that mean that having choices of the kind of loan you need have to fit your own circumstances is a bad thing. The only thing that matters is if it gets paid for or not. If they can make the payments, what does it matter to you?

[garagelogic]

Originally Posted by 1_2Many

I hate to rain on your parade, but nobody wants counseling from a man who has everything already.

I have what I have is because of the sound financial advice and example I received from my grandparents, parents and others, not because I was born into money. My father was a farmer in the '70's-'80's and when the bottom fell out of that, he worked to get his CDL and was a commercial truck driver until he retired. In order to buy my first car, I worked and entire summer and was able to by a then 18 year-old car for $1200. I drove that car from the time I was 16 until I was 23. I bought my second car used for $7800 and it was 3 years old when I purchased it. I drove that car until I was 28. Here's the thing, I could have purchased and financed a new(er) car at several points during those 14 years, but instead I drove out-dated, paid-for cars while all my friends sported the latest and greatest new vehicles. Instead, I saved the money that would have otherwise gone into some bankers pocket and this allowed me to pay cash for almost every car since then. Yeah, the 14 years of driving less than stellar vehicles sucked, but the long-term results of that action more than make up for the bruises to my ego. if something I say causes just one person to stop and think about what they are doing and prevents them from making a poor financial choice, then I will be glad to continue to point these things out regardless of how that makes some people feel about me as a person.

Originally Posted by 1_2Many

It's how the world turns...it just so happens the real-estate market crashed and it blew the economy. Don't blame this recession on bad "common sense" when you know it is due to the housing situation.

I rest my case.

Originally Posted by Silver Streak

Thanks for the lecture! That will fix it. BTW I am paying cash for mine, does that mean that having choices of the kind of loan you need have to fit your od wn circumstances is a bad thing. The only thing that matters is if it gets paid for or not. If they can make the payments, what does it matter to you?

It matters to me, and it should to everyone else, because no man (or family) is an island. The bad financial decisions others make can impact me, you and the rest of the world. Do you think all this money the government is spending is just being created out of thin air? The government has no money other than what it take from its citizens. I am being forced, via taxation and other means, to pay for the poor financial decisions that others have made. That's why it matters to me. Too many people have their head in the sand on this matter and it's time that people start calling people out for the stupid things they are doing that is going to hurt all of us in the long run.

Sorry folks, but as long as there are people out there who are willing to have me pay for someone else's mistakes/errors, your business is my business.