My '11 Camaro got repoed.

[TORKED]

Don't even think about buying another luxury item until you can get back on solid ground. Drive and old 92-97 Saturn with a manual trans. They get 40 mpg all day and can be found for $500-$2500 bucks. Don't put yourself into a high-dollar ride until you can really afford to do it. It makes it that much more enjoyable anyway.

Good luck man.

[nyrfan]

Originally Posted by Swacer

$635 a month? For a v6? What was the length of the loan?

I wouldn't pay $635/month for ANYTHING. It is always said that you should never buy a car unless you can afford to lose your job and be able to afford all of your bills + the car for 12 months until you can find another source of solid income. What did you put down on it? Did you take an approach like this?

This seems like a case of someone getting in over their head just because you "wanted" the car even though you couldn't swing it financially in the long term.

I can't feel pity for you. People lose their jobs everyday, and our economy is lucky that SOME think ahead of situations that don't require them selling everything to keep their head above water. Heck, if you were in that bad of shape, you should have had a for sale sign on the car the moment you realized you were in dire situations.

People are so eager to dish out advice/criticism without really knowing the facts. Why is everyone harping on this $635 without know the facts?

You say you'd never pay $635 for anything? How do you know the $635 was not for a 48 month loan at 0%? If that were the case would you do it? I know I would as it's smart money management! I for one pay $800 a month for my car BUT I'm at 1.79% and my car will paid in 20 total payments! Bought the car June 2011 and at the pace I'm paying it will be PIF Feb 2013, balance as of today is just under $9,600.

The OP knows he messed up, I'm sure he feels crappy enough but shit happens in life. Should/Could he have planned a bit better, sure! But at the end of the day he's going to be the one paying for this (in more ways then 1) for many years to come. Hopefully he learns from this.

Sucks this happens but it's only a car. Life goes on OP, keep your head up!

[Falundir]

Just want to say I'm proud to be a member of a forum that is supportive in his time of need instead of a bunch of children.

/salute

[cb2011rs]

Originally Posted by Swacer

$635 a month? For a v6? What was the length of the loan?

I wouldn't pay $635/month for ANYTHING. It is always said that you should never buy a car unless you can afford to lose your job and be able to afford all of your bills + the car for 12 months until you can find another source of solid income. What did you put down on it? Did you take an approach like this?

This seems like a case of someone getting in over their head just because you "wanted" the car even though you couldn't swing it financially in the long term.

I can't feel pity for you. People lose their jobs everyday, and our economy is lucky that SOME think ahead of situations that don't require them selling everything to keep their head above water. Heck, if you were in that bad of shape, you should have had a for sale sign on the car the moment you realized you were in dire situations.

Glad you know it all . Hope you're down and out one day and people step all over you . You don't know jack about diddley squat ....

[ddunerider]

$635 for a V6...damn!!!!

[nyrfan]

dup post

[midnighter]

Originally Posted by SixGracing

Good luck. Auctions are brutal. My daughter just lost her car that way and it was in immaculate condition, only had 25K miles and was a 2008. High book was 16K and the lowest book I could find on the car was 14K. Again, this car was mint! No scratches, perfect rubber, clean interior, all services done, CVT tranny, loaded! They sold it for 12K and billed her for the difference of $4000. Nice huh?

This what they do. The bank manager has a friend who is interested in your car and get's it for $15,000 and you are made responsible for the difference between what they sold it for and what you owed on it. Good luck to you OP.

[TDevilsG]

I'm sorry to hear you've fallen into hard times my friend. I've been there myself as I had to move back into the house two years ago and took two temporary jobs in order to make some money. But things will eventually get better for you, just like they did for me. Whatever you do, NEVER give up. If it involves taking a temp job, proving your worth to the company, and eventually negotiating a salaried position...do it! You've got to go out of your comfort zone and work day and night to make sure you are networked. Do everything you can and you will be rewarded.

[skipinminn]

You should have taken off all the MODS and sold them ON here. Got a little Pocket Money.

[phntmss]

sorry for your loss, i hope you get back on your feet and into a camaro again soon!

[SSBlack]

OP, it won't help you now, but someone bent you over. In one of your other threads, you said you financed it for 6 years @ 5%.

I have a cool phone auto loan calculator app and plugging those numbers and a $635 payment, you had to have financed $40K.

Were you $10K upside-down on the Harley? Did you look at the interest rate, or take their word for it?

Again, it doesn't matter now. $635 or $335, both are difficult if you lose your job and don't have money put back for a rainy day.

[mikeSS]

hopefully you learned from this. this does happen to many people. dont feel to bad about it. good luck man.

[SSBlack]

Originally Posted by Swacer

It is always said that you should never buy a car unless you can afford to lose your job and be able to afford all of your bills + the car for 12 months until you can find another source of solid income

Having money saved to be able to pay your bills for at least 6 months, if you lose your job, IS the smart thing to do.

Most people don't.

The rest of your comments were pretty harsh. I see where you're coming from, but not knowing all the details, I wouldn't have slammed him that hard.

[nyrfan]

Originally Posted by SSBlack

OP, it won't help you now, but someone bent you over. In one of your other threads, you said you financed it for 6 years @ 5%.

I have a cool phone auto loan calculator app and plugging those numbers and a $635 payment, you had to have financed $40K.

Were you $10K upside-down on the Harley? Did you look at the interest rate, or take their word for it?

Again, it doesn't matter now. $635 or $335, both are difficult if you lose your job and don't have money put back for a rainy day.

I did not see where he said 5%, he actually said he had bad credit so I'd bet it was significantly higher. Also he mentioned the loan was for 5 years in ths thread.