Down payment, how much? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

fiascoes1 · 10-12-2011, 03:01 PM

Ok, now that the Zl1 price is expected to be over 60k out the door, how much do you guys plan on putting down? How many of you are planning to pay it cash? I myself plan on putting down at least 15k and finance the rest.

Z4me · 10-12-2011, 03:06 PM

As much as I can, or as much as my wife will allow me to. The rest will
be taken out from my home equity, which will be alot lower then through
GM I'm thinking. So basically cash to the dealer all at once.

toilets · 10-12-2011, 03:07 PM

I will finance the whole darn thing as long as i get my interest rate I want

1BADZL1 · 10-12-2011, 03:45 PM

My plan is 1/2
Could vary.... and is also a key factor for me..
Not wanting over a $600 month payment on this...
Has anyone done any budgeting or numbers crunch to see where you are at as far as payments etc?
If I pay half down I am still looking at about $500 a month or so give or take with a low percentage rate...
I could only guestimate that people that finance the whole thing for even the longest term will have a $1,000 or more monthy payment. For anyone under a $40,000 a year income would seem insane to me too.
But then again, I do not have anyone helping me make car payments either. My Dog wont help, nor will my cat, or my Girlfriend...
She has plans of her own and wants a Acura but that is a whole other story.
I would like to hear of peoples plans though and down payment numbers.

1BADZL1 · 10-12-2011, 03:49 PM

http://auto.ally.com/payment-calculator/#tabs=price

BoostedX2 · 10-12-2011, 03:52 PM

Selling/trading in my 2010 SS, hopefully finance 30K at 2.75% about $500/month for 60 months...

1BADZL1 · 10-12-2011, 03:52 PM

just an example...
if this car is $60,000 (which i highly doubt)
apr 3% (mine will be higher)
6 years of financing
is $531.78

Shurenuff · 10-12-2011, 03:53 PM

I plan to finance about half.

OT, but speaking of financing with GM, does anyone know if they allow you to reduce insurance coverage (collision) while you store a car during the winter (typically 5 months)? That's something I'll have to investigate as I've heard some lenders don't allow that and was hoping some of you guys had experience or knowledge of that.

1BADZL1 · 10-12-2011, 03:59 PM

Quote:

Originally Posted by MY68RS

just an example...
if this car is $60,000 (which i highly doubt)
apr 3% (mine will be higher)
6 years of financing
is $531.78

On the high end of it
If the car was $51,000
apr 9%
6 year term
16,000 down
would be $630..

The latter would probably make me have to hold out till 2013
where I could beef up my down payment more and work on getting my interest rate down more. I do not see myself diving into a $630 payment for 6 years.... That number will have to come down significantly..
But I am not worried. It will come when the time is right.

That is just the way faith is....
One other thing...
Are you guys planning on GMAC financing?
or private bank, etc?

1BADZL1 · 10-12-2011, 04:01 PM

Quote:

Originally Posted by Shurenuff

I plan to finance about half.

OT, but speaking of financing with GM, does anyone know if they allow you to reduce insurance coverage (collision) while you store a car during the winter (typically 5 months)? That's something I'll have to investigate as I've heard some lenders don't allow that and was hoping some of you guys had experience or knowledge of that.

I am sure others can speak out on this but my thought is anytime someone carries a car note they generally want FULL COMPLETE coverage at ALL times with maybe the exception of Guaranteed Auto Protection perhaps.

justa25thTA · 10-12-2011, 04:08 PM

Quote:

Originally Posted by Z4me

As much as I can, or as much as my wife will allow me to. The rest will
be taken out from my home equity, which will be alot lower then through
GM I'm thinking. So basically cash to the dealer all at once.

So your going to be financing a car on a house note? Like a 15 or 30 year note?

payne.jeremy82 · 10-12-2011, 04:10 PM

Cash Is King

Shurenuff · 10-12-2011, 04:22 PM

Quote:

Originally Posted by MY68RS

I am sure others can speak out on this but my thought is anytime someone carries a car note they generally want FULL COMPLETE coverage at ALL times with maybe the exception of Guaranteed Auto Protection perhaps.

Yeah, I have to research this. I've been told by some that certain lenders allow you to take off collision, and thus significantly reducing the monthly premium, when the car is in storage. Of course, theft, etc coverage would have to remain at all times during the duration of the loan.

Don't know how true it is, but for someone in my situation who will only drive the car for about 7 months out of the year, it's definitely worth looking into.

MR 45TH · 10-12-2011, 04:29 PM

The plan is 20K down but it will really depend on the price.

10-12-2011, 03:01 PM	#1
fiascoes1 SoCalRaceTeam new-b! Drives: 2012 ZL1/WHITE/BLACK STRIPE Join Date: Apr 2011 Location: norwalk ca Posts: 2,021	Down payment, how much? Ok, now that the Zl1 price is expected to be over 60k out the door, how much do you guys plan on putting down? How many of you are planning to pay it cash? I myself plan on putting down at least 15k and finance the rest.

10-12-2011, 03:06 PM	#2
Z4me Drives: 2013 ZL1 IOM Vin #169 Join Date: Jan 2011 Location: Maryland Posts: 1,953	As much as I can, or as much as my wife will allow me to. The rest will be taken out from my home equity, which will be alot lower then through GM I'm thinking. So basically cash to the dealer all at once. __________________ Last edited by Z4me; 10-12-2011 at 03:51 PM.

10-12-2011, 03:45 PM	#4
1BADZL1 THE CAMARO KING Drives: 2012 Camaro ZL1 on order #PZSD7S Join Date: Aug 2006 Location: Out Somewhere Driving My 'BADZL1' Posts: 2,284	My plan is 1/2 Could vary.... and is also a key factor for me.. Not wanting over a $600 month payment on this... Has anyone done any budgeting or numbers crunch to see where you are at as far as payments etc? If I pay half down I am still looking at about $500 a month or so give or take with a low percentage rate... I could only guestimate that people that finance the whole thing for even the longest term will have a $1,000 or more monthy payment. For anyone under a $40,000 a year income would seem insane to me too. But then again, I do not have anyone helping me make car payments either. My Dog wont help, nor will my cat, or my Girlfriend... She has plans of her own and wants a Acura but that is a whole other story. I would like to hear of peoples plans though and down payment numbers. __________________ 2012 Camaro ZL1 Car Name: Bruce ZL1, LSA, MN6/MG9, DSX, RTQ, VR, Current Status: 2030 1000 Initial Order 11/11/2011 Chevyland 1100 Order accepted at dealer: 11/11/2011 - PZSD7S 2000 Order accepted by GM: 12/14/2011 3000 Accepted By Production Control: 00/00/2011 - TPW 00/00/2011 3100 Sequenced: 00/00/2011 3300 Scheduled For Production:0/0/2012 3400 Broadcast: 0/0/2012 3800 Produced: 0/0/2012 4000 Available To Ship: 0/0/2012 4200 Shipped: 0/0/2012 5000 Delivered To The Dealer: 0/0/2012 6000 Delivered To Customer:0/0/2012

10-12-2011, 03:49 PM	#5
1BADZL1 THE CAMARO KING Drives: 2012 Camaro ZL1 on order #PZSD7S Join Date: Aug 2006 Location: Out Somewhere Driving My 'BADZL1' Posts: 2,284	http://auto.ally.com/payment-calculator/#tabs=price __________________ 2012 Camaro ZL1 Car Name: Bruce ZL1, LSA, MN6/MG9, DSX, RTQ, VR, Current Status: 2030 1000 Initial Order 11/11/2011 Chevyland 1100 Order accepted at dealer: 11/11/2011 - PZSD7S 2000 Order accepted by GM: 12/14/2011 3000 Accepted By Production Control: 00/00/2011 - TPW 00/00/2011 3100 Sequenced: 00/00/2011 3300 Scheduled For Production:0/0/2012 3400 Broadcast: 0/0/2012 3800 Produced: 0/0/2012 4000 Available To Ship: 0/0/2012 4200 Shipped: 0/0/2012 5000 Delivered To The Dealer: 0/0/2012 6000 Delivered To Customer:0/0/2012

10-12-2011, 03:52 PM	#7
1BADZL1 THE CAMARO KING Drives: 2012 Camaro ZL1 on order #PZSD7S Join Date: Aug 2006 Location: Out Somewhere Driving My 'BADZL1' Posts: 2,284	just an example... if this car is $60,000 (which i highly doubt) apr 3% (mine will be higher) 6 years of financing is $531.78 __________________ 2012 Camaro ZL1 Car Name: Bruce ZL1, LSA, MN6/MG9, DSX, RTQ, VR, Current Status: 2030 1000 Initial Order 11/11/2011 Chevyland 1100 Order accepted at dealer: 11/11/2011 - PZSD7S 2000 Order accepted by GM: 12/14/2011 3000 Accepted By Production Control: 00/00/2011 - TPW 00/00/2011 3100 Sequenced: 00/00/2011 3300 Scheduled For Production:0/0/2012 3400 Broadcast: 0/0/2012 3800 Produced: 0/0/2012 4000 Available To Ship: 0/0/2012 4200 Shipped: 0/0/2012 5000 Delivered To The Dealer: 0/0/2012 6000 Delivered To Customer:0/0/2012

10-12-2011, 03:07 PM	#3
toilets Drives: 2010 camaro Join Date: May 2011 Location: Southeast, Posts: 842	I will finance the whole darn thing as long as i get my interest rate I want

10-12-2011, 03:52 PM	#6
BoostedX2 Drives: VR ZL1 #259/Nissan 370Z NISMO Join Date: Aug 2008 Location: Ohio Posts: 1,071	Selling/trading in my 2010 SS, hopefully finance 30K at 2.75% about $500/month for 60 months...

10-12-2011, 03:53 PM	#8
Shurenuff Drives: 2002 Nissan Altima Join Date: Jul 2008 Location: Chicago, IL Posts: 2,048	I plan to finance about half. OT, but speaking of financing with GM, does anyone know if they allow you to reduce insurance coverage (collision) while you store a car during the winter (typically 5 months)? That's something I'll have to investigate as I've heard some lenders don't allow that and was hoping some of you guys had experience or knowledge of that. __________________ Factory Badassery

10-12-2011, 04:10 PM	#12
payne.jeremy82 Drives: 2002 Lifted Trailblazer Join Date: Sep 2011 Location: Knoxville, TN Posts: 51	Cash Is King

10-12-2011, 04:29 PM	#14
MR 45TH Drives: 2018 ZL1 Join Date: Oct 2011 Location: Huntingtown, MD Posts: 1,138	The plan is 20K down but it will really depend on the price. __________________ 2018 ZL1…Many mods to come

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