Down payment, how much?

[djsnoflake]

Hopefully at least 30 grand. Hoping more along the lines of 40

[HDRDTD]

All of it.

[1BADZL1]

Originally Posted by justa25thTA

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

I think he may mean he is refinancing his house...
Good idea I suppose.

[1BADZL1]

Originally Posted by payne.jeremy82

Cash Is King

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!

[payne.jeremy82]

Honestly due to what happened to me at a certain hospital that left me unable to walk for more than a year but I am not allowed to talk about that due to a settlement but anyay now I have a 8 figure bank account so mine will be paid for in cash and I am thinking if I want to get a vert or not who knows

[So Cal Camaro]

Yes, once people actually crunch the numbers, it makes a difference

Financing $40k at 2.9% for 5 years = $716.97 payment
Financing $40k at 2.9% for 6 years = $605.96 payment

Financing $50k at 2.9% for 5 years = $896.21 payment
Financing $50k at 2.9% for 6 years = $757.45 payment


So, depending on price and how much you got to put down, the payment could be substantial. I'm figuring if you can't put down $20k, the payment is going to get tedious after the newness of the ZL1 wears off especially if you're going for the 6 year plan.

[Z4me]

Originally Posted by justa25thTA

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

No I have a line of credit like a credit card with my
banker. The rates are typically lower then a car loan
would be at the dealers. There is no penalty on paying
it off early, and I can declare the interest accued as
a tax benefit as well. I plan on paying that loan off
in about a year to a year and a half.

[Blackdevil77]

I need the payments to be under 600 a month as well. I'd like to put half down, but no less then 20k. I really hope it's not 60 :(

[djsnoflake]

Originally Posted by payne.jeremy82

Honestly due to what happened to me at a certain hospital that left me unable to walk for more than a year but I am not allowed to talk about that due to a settlement but anyay now I have a 8 figure bank account so mine will be paid for in cash and I am thinking if I want to get a vert or not who knows

Think you could probably get an Escalade while you wait for the Z, instead of a 10 year old Blazer

[payne.jeremy82]

Originally Posted by djsnoflake

Think you could probably get an Escalade while you wait for the Z, instead of a 10 year old Blazer

Allready sold I got rid of it when i couldn't walk
I don't want an Escalade but I bought my MOM one I will wait for my ZL1

[djsnoflake]

Originally Posted by payne.jeremy82

Allready sold I got rid of it when i couldn't walk
I don't want an Escalade but I bought my MOM one I will wait for my ZL1

If I had over 10,000,000 I would have a car for every day of the week. Good on you for buying your mom a car though!

What are you driving right now then?

[2012ZL1]

The STARSHIP ENTERPRISE perhaps?

[Scrappy Doo]

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.

State Farm lets you do this on snowmobiles etc. I would assume that you could on a car too. As long as the Comprehensive remains you would protected if there is a lien on the car.

[afirehawk1]

Cash!