Financing Question - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

TheMadHatter99 · 04-16-2009, 01:53 PM

So a lot of this is stemming from my impatience at having followed this car since the concept's inception and wanting it NOW, rather than next year, but here goes:

I've been playing around with my budget and I've discovered that I could afford to get a 1SS with either a 60 mos or 72 mos loan or the 2SS with a 72 mos loan. My question is, which would be a better plan?

Or would it be better to simply wait until 2010 and hope to get one either slightly cheaper than MSRP (and with a bigger down payment) or perhaps a slightly used one? I realize this would obviously be the most prudent course, but my impatience isn't very fond of this plan. Your opinions?

FYI: I intend on keeping the car for a very long time and perhaps eventually turning it into a weekend racer; in order words I don't plan on buying it and then selling it in a few years.

theshadow1234 · 04-16-2009, 02:00 PM

It depends really on what kind of interest rate you can get at those terms and if you can get a car at MSRP or lower. Usually if you go 72 months, your interest rate increases, not a lot bit maybe up to 1% more. It just depends on your credit score and how much $$$ you want to put into the car in the long run.... I prefer 60 months with a lower interest rate of less than 7%. 0% would be awesome but you would need a good credit score which I don't have.

Thanks

Iwantone2 · 04-16-2009, 02:12 PM

How low do you think the interest rate will go for the Camaro though? Anyone think we will see 0% offered?

theshadow1234 · 04-16-2009, 02:26 PM

It's possible that you can get 0% either through GM financing or there are other alternatives. Im not sure about the Camaro though. You'd have to ask your dealer if they can accept it first. They do have some credit unions that they work with in house that may get you 0%. You can check here... https://www.exclusivegmoffer.com/ip-...do?program=cud

04-16-2009, 01:53 PM	#1
TheMadHatter99 Kept the Faith Drives: '10 Camaro 2SS/RS CGM Join Date: May 2007 Location: Jacksonville, FL Posts: 721 View My Garage	Financing Question So a lot of this is stemming from my impatience at having followed this car since the concept's inception and wanting it NOW, rather than next year, but here goes: I've been playing around with my budget and I've discovered that I could afford to get a 1SS with either a 60 mos or 72 mos loan or the 2SS with a 72 mos loan. My question is, which would be a better plan? Or would it be better to simply wait until 2010 and hope to get one either slightly cheaper than MSRP (and with a bigger down payment) or perhaps a slightly used one? I realize this would obviously be the most prudent course, but my impatience isn't very fond of this plan. Your opinions? FYI: I intend on keeping the car for a very long time and perhaps eventually turning it into a weekend racer; in order words I don't plan on buying it and then selling it in a few years. __________________

04-16-2009, 02:12 PM	#3
Iwantone2 Voice Of The Voiceless Drives: CGM 1SS RS Join Date: Feb 2009 Location: OC Cali Posts: 9,617 View My Garage	How low do you think the interest rate will go for the Camaro though? Anyone think we will see 0% offered? __________________

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Dealer Trade-in and Financing Question	LEX2CAMARO	Camaro Price \| Ordering \| Tracking \| Dealers Discussions	18	04-17-2009 07:07 AM
Question about the After....	Tecca	Camaro Price \| Ordering \| Tracking \| Dealers Discussions	1	04-15-2009 04:05 PM
OK WILL SOMEONE PLEASE ANSWER THIS QUESTION OM FINANCING	leatherneck	Camaro Price \| Ordering \| Tracking \| Dealers Discussions	22	03-26-2009 03:53 PM
MERGED: Has anyone read this (bankruptcy) about GM?	LS3SSRS	General Automotive + Other Cars Discussion	460	11-23-2008 10:54 PM
GMAC Financing problems	rolnslo	Camaro Price \| Ordering \| Tracking \| Dealers Discussions	13	10-14-2008 11:15 PM

04-16-2009, 02:00 PM	#2
theshadow1234 Drives: Shelby GT500 Join Date: Apr 2009 Location: Pearland, TX Posts: 215	It depends really on what kind of interest rate you can get at those terms and if you can get a car at MSRP or lower. Usually if you go 72 months, your interest rate increases, not a lot bit maybe up to 1% more. It just depends on your credit score and how much $$$ you want to put into the car in the long run.... I prefer 60 months with a lower interest rate of less than 7%. 0% would be awesome but you would need a good credit score which I don't have. Thanks

04-16-2009, 02:26 PM	#4
theshadow1234 Drives: Shelby GT500 Join Date: Apr 2009 Location: Pearland, TX Posts: 215	It's possible that you can get 0% either through GM financing or there are other alternatives. Im not sure about the Camaro though. You'd have to ask your dealer if they can accept it first. They do have some credit unions that they work with in house that may get you 0%. You can check here... https://www.exclusivegmoffer.com/ip-...do?program=cud