I want to buy a Camaro.... can't afford it..<cry> - Page 4 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Kurt_OH · 12-16-2009, 06:43 AM

Get that money working for you. Invest it in stocks or real estate or something with a reasonable shot to appreciate.

infernoinandout · 12-16-2009, 07:09 AM

Always go for the property first then quality furniture and appliances, property usally goes up in value cars for the most part do not. Toys will come later and you will be able to get a quality used in a few years cheap then mod the hell out of it. Make sure the house has a garage for car storage and working on it.

VR Code R6P · 12-16-2009, 08:09 AM

Sell the Honda, buy a like new 2006 GTO, and save the rest for a house.

The only thing the GTO is missing, are the looks of the new Camaro. It is 98% of the 2010 Camaro, at 1/3 the price! It will hold it's value better than a Camaro since it is already greatly depreciated at the start, and it will be much more rare if you keep it. The back seat is much better in the GTO too!

coolman · 12-16-2009, 08:25 AM

Don't listen to them. I bought six new cars before I ever bought a house and enjoyed them all. I've had two houses and both of them were money pits. I don't care if you have a brand new house ,there is always something to buy. So, you buy a house spend all kinds of money in up keep, taxes, and repairs year after year only to give it to the home when you get old. Sounds like a great Idea. Buy the hot rod , don't get married, and live in an apartment. Save all the extra money and retire early to buy more hot rods.

TiE2000 · 12-16-2009, 09:57 AM

It's a tuff call, I had a similar situation, But my decision was made up for me... I have a Wife and a Son, so the house came first.

Lucky too, we ended up getting a pretty good deal, the house was a short sell so we ended up paying way less then what the house was worth. My only advice when buying a house, don't sign up for a reality TV show... House buying is stressful enough, but when you add a film crew to the ordeal... ugh...

My TV appearance:

Sorry don't know how to embed.

Any who,

Your single, now is the time to play, in my opinion. Get the car now, then settle down once you find the girl of your dreams. Owning a house is very demanding and you will need all the help you can get keeping up on it.

Car
Girl
House
Children

*Camaro_Corvette* · 12-16-2009, 09:59 AM

Quote:

Originally Posted by MikesZ

Smart move...the 5th Gens will be around for quite some time but the recent low home prices and low mortgage rates won't last.

Yep, it still sucks though. Coming on here everyday seeing people who just received one. I think I'm gonna need counseling soon. :(

Edge.128 · 12-16-2009, 10:42 AM

yes I got extremely lucky. I bought when the market was low. did a few renos, paint and things like that. since then while your housing market in the US has gone down in my area it went way up and sort of stayed there. So overall in Canada the market is down a bit but in my town it is still high. So ya I am very lucky it worked out that way.

Darth_Emma · 12-16-2009, 11:13 AM

Please don't bury yourself in debt. It's a mistake. I was in your same situation not all that long ago and really wanted a muscle car. But I did the responsible thing and kept driving my old car until I got my house and paid off my student loans from college.

Houses appreciate in value (usually), whereas car don't (there are rare exceptions to this too). Keep your head about you and save your money until you feel comfortable making this purchase. The day will come and you will appreciate it all the more.

Moriartii · 12-16-2009, 11:17 AM

Do both. Take 5K and the civic, and put on the Camaro. Continue to save for the house condo with 15K in the bank. Not too shabby. Sometimes you have to play hard after you work hard (taking 5K out is playing hard after you saved up 20K).
Cheers
K

2011hereicome · 12-16-2009, 12:26 PM

I'm going through the same exact thought process myself. I will be returning home from a deployment late next year and have come to the conclusion.....why not both? Granted I have no other debt and as a Vet. I don't necessarily need a down payment. But the way I look at it is, if you can afford the house payment, and a car payment... why not? I do agree that payments SUCK... BUT, those are far better payments than credit card bills etc. In the end peoples advice helps, but you have to do what you want sometimes too. Good luck..

MikesZ · 12-16-2009, 12:55 PM

Quote:

Originally Posted by Camaro_Corvette

Yep, it still sucks though. Coming on here everyday seeing people who just received one. I think I'm gonna need counseling soon. :(

LOL, it never ends...adult priorities/responsibilities that is...but you made a WISE choice in getting the house first. I'll be right there waiting and drooling with ya'. We WILL get our Camaros at some point...and hopefully not need too much medication in the interim!

glambert1 · 12-16-2009, 02:47 PM

you dont want to be 50 years old and look back and say what the hell was I thinking I should have gottonthat cool car and had some more fun when I was younger dont be in a hurry to grow up theres nothing here , I dont care about my house any more its just a place to be comfortable in . when your 70 you can spend your whole day cutting the lawn and grooming flowers, I regret not being a nut when I was younger I was always the mature one, act irresponsible thats what life is supposed to be like

YenkoSC · 12-16-2009, 03:24 PM

Although you might not be able to get it now, keep it in mind as a want and one day you will get it.

rad · 12-16-2009, 04:55 PM

Ha ha! I love all the posts that say a house is an appreciating asset and a car, depreciating. What are you smoking, guys! The real estate market just fell through the floor. The Federal Reserve wants you amass debt (and real estate debt is bigger than auto debt) to keep you an indentured servant to the system for your life time. I mean how many people ever pays off a mortgage? Don't be a shill. One of the significant reasons we just had the biggest bull run in the stock market in history is a little detail related to fewer mortgage resets during the past nine months than what is projected for next year, when many more people lose their home.

All I'm saying is think deeply outside the box!

12-16-2009, 02:47 PM	#54
glambert1 HOMER Drives: 2010 camaro 2LT RS SIM Join Date: May 2009 Location: New York Posts: 527	you dont want to be 50 years old and look back and say what the hell was I thinking I should have gottonthat cool car and had some more fun when I was younger dont be in a hurry to grow up theres nothing here , I dont care about my house any more its just a place to be comfortable in . when your 70 you can spend your whole day cutting the lawn and grooming flowers, I regret not being a nut when I was younger I was always the mature one, act irresponsible thats what life is supposed to be like __________________ ....do it yourself and be proud when you brag about your mods...

12-16-2009, 03:24 PM	#55
YenkoSC Drives: 1967 Camaro RS/SS, 1969 Camaro Join Date: Nov 2009 Location: Perth, Australia Posts: 87	Although you might not be able to get it now, keep it in mind as a want and one day you will get it. __________________ First Gen Camaro fanatic

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12-16-2009, 06:43 AM	#43
Kurt_OH Member Drives: BMW, Hyundai Join Date: Nov 2008 Location: Ohio Posts: 192 View My Garage	Get that money working for you. Invest it in stocks or real estate or something with a reasonable shot to appreciate.

12-16-2009, 07:09 AM	#44
infernoinandout Drives: 2010 camaross/rs Join Date: Jan 2009 Location: buffalo Posts: 461	Always go for the property first then quality furniture and appliances, property usally goes up in value cars for the most part do not. Toys will come later and you will be able to get a quality used in a few years cheap then mod the hell out of it. Make sure the house has a garage for car storage and working on it.

12-16-2009, 08:09 AM	#45
VR Code R6P Drives: 2011 Race Red GT500 w/ SVT Perf Pkg Join Date: Mar 2009 Location: eastern CO Posts: 578	Sell the Honda, buy a like new 2006 GTO, and save the rest for a house. The only thing the GTO is missing, are the looks of the new Camaro. It is 98% of the 2010 Camaro, at 1/3 the price! It will hold it's value better than a Camaro since it is already greatly depreciated at the start, and it will be much more rare if you keep it. The back seat is much better in the GTO too!

12-16-2009, 08:25 AM	#46
coolman Guest Join Date: Jun 2009 Location: PA Posts: 4,812	Don't listen to them. I bought six new cars before I ever bought a house and enjoyed them all. I've had two houses and both of them were money pits. I don't care if you have a brand new house ,there is always something to buy. So, you buy a house spend all kinds of money in up keep, taxes, and repairs year after year only to give it to the home when you get old. Sounds like a great Idea. Buy the hot rod , don't get married, and live in an apartment. Save all the extra money and retire early to buy more hot rods.

12-16-2009, 10:42 AM	#49
Edge.128 Drives: 2010 Camaro LS Join Date: Sep 2009 Location: Canada Posts: 1,911	yes I got extremely lucky. I bought when the market was low. did a few renos, paint and things like that. since then while your housing market in the US has gone down in my area it went way up and sort of stayed there. So overall in Canada the market is down a bit but in my town it is still high. So ya I am very lucky it worked out that way.

12-16-2009, 11:13 AM	#50
Darth_Emma Psssssssssshhhhhhhhhhhhh! Drives: under contruction Join Date: Nov 2009 Location: Marysville, Ohio Posts: 12,996 View My Garage	Please don't bury yourself in debt. It's a mistake. I was in your same situation not all that long ago and really wanted a muscle car. But I did the responsible thing and kept driving my old car until I got my house and paid off my student loans from college. Houses appreciate in value (usually), whereas car don't (there are rare exceptions to this too). Keep your head about you and save your money until you feel comfortable making this purchase. The day will come and you will appreciate it all the more.

12-16-2009, 11:17 AM	#51
Moriartii Drives: 11 IOM 2SS/RS M6 w/Hurst Join Date: Nov 2009 Location: Austin Texas Posts: 1,269	Do both. Take 5K and the civic, and put on the Camaro. Continue to save for the house condo with 15K in the bank. Not too shabby. Sometimes you have to play hard after you work hard (taking 5K out is playing hard after you saved up 20K). Cheers K

12-16-2009, 12:26 PM	#52
2011hereicome Drives: 2002 GMC Sierra 1500 Join Date: Oct 2009 Location: Fargo, ND Posts: 40	I'm going through the same exact thought process myself. I will be returning home from a deployment late next year and have come to the conclusion.....why not both? Granted I have no other debt and as a Vet. I don't necessarily need a down payment. But the way I look at it is, if you can afford the house payment, and a car payment... why not? I do agree that payments SUCK... BUT, those are far better payments than credit card bills etc. In the end peoples advice helps, but you have to do what you want sometimes too. Good luck..

12-16-2009, 04:55 PM	#56
rad Drives: Ordered 1/22/10: SW 2LT/RS Manual Join Date: Sep 2009 Location: SoCal Posts: 167	Ha ha! I love all the posts that say a house is an appreciating asset and a car, depreciating. What are you smoking, guys! The real estate market just fell through the floor. The Federal Reserve wants you amass debt (and real estate debt is bigger than auto debt) to keep you an indentured servant to the system for your life time. I mean how many people ever pays off a mortgage? Don't be a shill. One of the significant reasons we just had the biggest bull run in the stock market in history is a little detail related to fewer mortgage resets during the past nine months than what is projected for next year, when many more people lose their home. All I'm saying is think deeply outside the box!