Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums - Camaro5.com
 
Cold Air Inductions
Go Back   Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums - Camaro5.com > General Camaro Forums > 5th Gen Camaro SS LS LT General Discussions


Reply
 
Thread Tools
Old 03-08-2010, 12:55 AM   #1
iyam_lorne
 
iyam_lorne's Avatar
 
Drives: '94 Grand Prix SE
Join Date: Aug 2009
Location: canada
Posts: 174
Gave up my life for a Camaro I'll never have.

Ok. Me again. Some of you may remember from my past posts how I got a new job a couple months ago to help further my efforts to save up for my camaro, working a total of nearly 18 hours a day between 2 jobs with nearly no sleep. Well, my story took a strange and hideous twist that pains me so much to tell you all.

It all started back at the beginning of last summer when I fell in love with the Camaro and wanted one so badly that I would give up anything to have one. I have never financed a car on my own yet, just had older cars that were either passed down or given to me. The thought of having a camaro made me soooo excited. So I paid a local dealer a visit one day early last summer and talked with a salesman. it seemed to be possible to get one but I would need a downpayment. So I decided to start saving any money I could. So for nearly a year I have been saving like crazy for this car. I ordered it all up last fall october 31 and it was to be sent to gm and given the ok about 6 weeks before may 1 so that i could take delivery then. I even began looking for second jobs to work evenings or weekends to save even more money. I had almost 10k saved up already and was so excited when I found a second job a couple months ago where I'd be working for a few months from 4:30pm till 2 in the morning and having to be up at 7 again for my regular day job to work till 3:30pm. Those 10 hours in the evening seemed to fly by like a joke because the whole time I was thinking about being in that camaro may 1 and how exciting it was gonna be. I knew with my 2 jobs working like mad for these few months was surely gonna pay off when that massive downpayment I would have would make the payments much smaller and easy to swallow. Well, about 2 weeks ago I get a phone call from my dealer that the car came in early. they hadnt given GM the okay to start building yet but somehow they were clearing out orders or something and just went ahead and built and shipped it to my dealer. Ok, well, no biggie, the said they can store it free of charge.
So last saturday I went in to look at the car and take it for a test drive since I still wanted time to save up money plus wait till the snow melted some more. I get there and they pull me into the office and try to tell me that the bank probably wont approve me for the loan in 60 days so I should buy it now. I really didnt want to do that. I asked if I could wait and they tell me that id probably not get the loan approved and there was a good possibility I couldnt get the car by then. Well, I didnt know what to do. I didnt want to take the risk and miss out on my precious camaro that I had worked so hard for. Also they said the bank wouldnt approve me for the length of loan I wanted and it was shorter, making the payments higher than I planned. Also they said the bank was stretching already to approve me and needed the car to have full warranty for at least 5 years, so I needed to also buy the extra 2 year warranty. Then they throw in a bunch of other fees that I hadnt been expecting and when it was all done, I was looking at 4k more than I was told back when I ordered. I guess I was on the spot, and this being my first loan, I figured it should be ok, I can handle it anyway, and so I signed the papers and put down my 11k that I had been working all year to save up for. Voila, I own a new Camaro. But I didnt take delivery yet, I wanted the weather to clear up abit.
Then this past week I began figuring things out. When I finally had time to sit down and figure out how much he extra jump in payments was gonna affect me with the extra 4k I ended up paying plus the shorter loan term and early delivery, I realized that I have nearly no money left over each month and I dont know what the future years will hold for me. WHOAH! I realized with the extra money I ended up having to pay, all of my hard work, 18 hours a day, really wasnt gonna help much and I cant afford the car now. BUT WAIT!!! I ALREADY PAID FOR IT AND MY FIRST PAYMENT WILL BE HITTING MY BANK ACCOUNT IN 30 DAYS!!
But I remembered the 60 day gm return policy I signed. So this past saturday I headed back to the dealer to inquire about the return gaurantee thing. It was my only hope now of getting out. I get there and my salesman meets me and thinks I am there to pick up the car to take home. I tell him we need to talk. I told him that I ended up paying 4k more than the number we agreed on back in october when I ordered the car and I'm in a tight spot now because with the increased payments I really dont think I can afford the car anymore like i had planned. Keep in mind, it hasnt left the lot yet except for a short test drive. I ask how the return thing works, can I reverse the charges and they can just return my money and sell it as a new car since its still on the lot. No they cant just do that but that 60 day money back gaurantee is my only way out now. But as that plan states, you have to have the car between 30 and 60 days before you can return it. So he tells me that all I need to do is get it registered and insured for one month and make the one payment at the end of the month and then I can get my money back. I asked him a few times what ALL I will lose and he says JUST the one month insurance and one payment is all. But he says that I may as well take the car for the month and see what happens. I own it anyway. Just so long as I dont go over 4000 miles on it and dont damage it, I should get my money back at the end of the month. So I got it registered and took it home.
The drive home was one of the most amazing driving expieriences even though it was super foggy and cloudy out that day. The car handles like a dream. I feel like I am one with the car as I cruise down the highway. It feels so solid and yet so nimble and powerful, especially for a v6 engine. As I drove down the highway, a car passes me and i glance over and see a little boy with his face against the window of their van and his mouth open wide in awe as he stares at the car. At this point I dont care what anyone thinks anymore, I may own the car, but I know its too good to be true.
As I get ready for bed now, I am sort of looking forward to going to work tomorrow and taking the Camaro but I know everyone at work will be asking me about the car and they will be talking about it probably but to me its really not mine even though I officially own it right now. I am worried though, now just hoping that through all the fine print in that gm 60 day money back gaurantee, they end up not taking it back or else I end up losing thousands of dollars that I slaved so hard for nearly a year to earn.
It pains me to have to return my dream car in 30 days because I simply now can no longer afford it. I only wish they had kept the same price and payment plan that they told me when I ordered it. I guess I signed too soon thinking all will still be ok and I could still swing it no problem but it appears I cannot and now I want out.
This dream is now no dream at all but a nightmare and I still have a few months to go with my evening job. Those 18 hour days are gonna be like torture, having no exciting goal to work towards and keep my spirits up like it has been for the past couple months. Last friday, in fact, I left early from work. Told them I wasnt feeling well. Thinking about this whole situation I am in right now was making me so sick that I just couldnt bear to go on working till 2 in the morning. I broke down on the drive home that night just thinking about this stuation nonstop
Well, Thats my story. Thanks again to all you who have been excited with me and supporting me the past months with your encouraging words. I truly appreciate you all so much. You guys are awesome.

If someone knows anything about this 60 day money back gaurantee please tell me I can get out of this with minimal money loss. am I gonna lose out big time or is it truly a no risk deal like my sales guy and finance guy tells me? What happens to my extended warranty that I bought for 2 grand? can I get that back too somehow?



__________________

ABM(changed to SIM) 1LT Automatic w/RS, polished alum, conv&conn pkg - May 1, 2010

Last edited by iyam_lorne; 03-08-2010 at 01:19 AM.
iyam_lorne is offline   Reply With Quote
Old 03-08-2010, 01:05 AM   #2
tommygun6644
 
tommygun6644's Avatar
 
Drives: 2010 Camaro 2SS/RS & 2006 Cobalt LT
Join Date: Mar 2009
Location: Schenectady, New York
Posts: 292
I can't really help you bud. But when I took delivery I had a lot of those extra BS fees as well. To this day I think I got screwed but didn't speak up at the time because I was so excited.
__________________
tommygun6644 is offline   Reply With Quote
Old 03-08-2010, 01:08 AM   #3
Revo1
Don't Like it? Suggit.
 
Drives: 2010 2SS/RS
Join Date: Aug 2008
Location: Fresno, CA
Posts: 14,820
Dude, that sucks. I'm sorry, and hope nothing like this happens to me when my day finally comes. I've been on the edge of my seat for one since the concept in 06, and will be quite crushed if I'm not able to get one...

Totally bummed for ya man...
__________________

"Tops off, tach up baby- loud and proud!"
A Camaro lover from day one- 1996 3.8 V6 Camaro, to 1996 5.7 LT1 Camaro Z28, to the sold 2002 5.7 LS1 Camaro SS, and NOW, a [I]6.2 L99 VR 2SS/RS: XS Power stainless full exhaust, Airaid CAI, BMR drop springs and sways, custom tune by Cal Speed- 411rwhp
Revo1 is offline   Reply With Quote
Old 03-08-2010, 01:14 AM   #4
shockandawe

 
shockandawe's Avatar
 
Drives: 2014 Z51 Corvette
Join Date: Dec 2008
Location: Wisconsin
Posts: 1,349
That extended warranty the dealer sold you was a bunch of crap,they justed wanted the money and took advantage of you! I never had a bank tell me I had to have an extended warranty to finance a car. Just drive it like you stold it for 30 days and return it!
shockandawe is offline   Reply With Quote
Old 03-08-2010, 01:16 AM   #5
2Fast4Mu
Nothing is True
 
2Fast4Mu's Avatar
 
Drives: Black 2014 2SS/RS
Join Date: Nov 2009
Location: Lexington, KY
Posts: 346
Keep your head up and remember, if there's a will, there is a way. Don't let this be a nightmare. Find a creative way to solve your problem.... it sounds all kinda new agey to say this stuff, but I believe people usually sell themselves short
__________________
...Nothing is True, Everything is Permissible...
2Fast4Mu is offline   Reply With Quote
Old 03-08-2010, 01:28 AM   #6
camarorad
Out of my way
 
camarorad's Avatar
 
Drives: RY 2SS/RS
Join Date: Jan 2010
Location: a long empty road
Posts: 98
I've been following your story from the beginning and I am truly sorry for the turns your situation has taken. You have sacrificed a lot and REALLY deserved that brand new Camaro.

I thought after your most recent previous post that your dealer was a little shady. I still am of that opinion. I hope I am wrong, in fact really hope I'm wrong, but I was under the impression that the 60 day guarantee was over last November. Maybe someone with better knowledge can chime in. I really hope I'm wrong. If not, your dealer is beyond sleazy for misleading you. I certainly don't believe for a second the guarantee requires you to register the vehicle.

In any case, I don't see anyway you could get back the extended warranty, I don't think that third party insurer would agree to refund your money, as I don't think it has anything to do with GM.

I would call GM directly ASAP and not drive it anymore until you have clarification of the 60 day guarantee.

Here's to hoping for the best outcome for you.
__________________
camarorad is offline   Reply With Quote
Old 03-08-2010, 01:31 AM   #7
2Fast4Mu
Nothing is True
 
2Fast4Mu's Avatar
 
Drives: Black 2014 2SS/RS
Join Date: Nov 2009
Location: Lexington, KY
Posts: 346
Any possibility of just talking to the lender and setting up your first payment date a little latter? After I applied and got my loan (end of Nov), I was suprised that my first payment wasn't until the end of January. I expected my first payment to be due immediately.
__________________
...Nothing is True, Everything is Permissible...
2Fast4Mu is offline   Reply With Quote
Old 03-08-2010, 02:02 AM   #8
kbs71
I know dats' rite..
 
kbs71's Avatar
 
Drives: 2010 ABM M6 2SS/RS
Join Date: Nov 2009
Location: Chicago, IL
Posts: 46
Sounds like to me your dealer took advantage of you being your a first time buyer. I also have never heard of a bank wanting a 5 year warranty. But then again banking has changed since the great repression. I would go look for someone else to fiannace you for a longer period of time. I know you said your credit wasn't good, but you just bought a new car and will be using that as collateral and you already put about half the price of the car. So either a bank or a local credit union should lend you money.
Hope it all works out for you, just don't give up and I agree with comororad and call up GM directly and find out what the scoop is. Also call whoever financed you and find out if what the dealer told you was in fact true.
__________________
2010' ABM M6, SS/RS a work in progress.
Fastlane CAI
ARH 1 7/8" headers and custom 3" stainless X piped exhaust with 5" tips
Rear view mirror mounted LED shift light.
Pedders Track 2Xa Supercar package with Xa Coilovers.
Pfadt 1le swaybars and endlinks front and rear. Rear Tie rods/trailing arms.
MGW shifter
MPD1 rear spoiler
Sullivan Aluminum pedals
kbs71 is offline   Reply With Quote
Old 03-08-2010, 02:05 AM   #9
Chevy2tehBone
 
Chevy2tehBone's Avatar
 
Drives: 2014 Z28 #80 Black
Join Date: Oct 2009
Location: Garland Tx
Posts: 263
Quote:
Originally Posted by iyam_lorne View Post
Ok. Me again. Some of you may remember from my past posts how I got a new job a couple months ago to help further my efforts to save up for my camaro, working a total of nearly 18 hours a day between 2 jobs with nearly no sleep. Well, my story took a strange and hideous twist that pains me so much to tell you all.

It all started back at the beginning of last summer when I fell in love with the Camaro and wanted one so badly that I would give up anything to have one. I have never financed a car on my own yet, just had older cars that were either passed down or given to me. The thought of having a camaro made me soooo excited. So I paid a local dealer a visit one day early last summer and talked with a salesman. it seemed to be possible to get one but I would need a downpayment. So I decided to start saving any money I could. So for nearly a year I have been saving like crazy for this car. I ordered it all up last fall october 31 and it was to be sent to gm and given the ok about 6 weeks before may 1 so that i could take delivery then. I even began looking for second jobs to work evenings or weekends to save even more money. I had almost 10k saved up already and was so excited when I found a second job a couple months ago where I'd be working for a few months from 4:30pm till 2 in the morning and having to be up at 7 again for my regular day job to work till 3:30pm. Those 10 hours in the evening seemed to fly by like a joke because the whole time I was thinking about being in that camaro may 1 and how exciting it was gonna be. I knew with my 2 jobs working like mad for these few months was surely gonna pay off when that massive downpayment I would have would make the payments much smaller and easy to swallow. Well, about 2 weeks ago I get a phone call from my dealer that the car came in early. they hadnt given GM the okay to start building yet but somehow they were clearing out orders or something and just went ahead and built and shipped it to my dealer. Ok, well, no biggie, the said they can store it free of charge.
So last saturday I went in to look at the car and take it for a test drive since I still wanted time to save up money plus wait till the snow melted some more. I get there and they pull me into the office and try to tell me that the bank probably wont approve me for the loan in 60 days so I should buy it now. I really didnt want to do that. I asked if I could wait and they tell me that id probably not get the loan approved and there was a good possibility I couldnt get the car by then. Well, I didnt know what to do. I didnt want to take the risk and miss out on my precious camaro that I had worked so hard for. Also they said the bank wouldnt approve me for the length of loan I wanted and it was shorter, making the payments higher than I planned. Also they said the bank was stretching already to approve me and needed the car to have full warranty for at least 5 years, so I needed to also buy the extra 2 year warranty. Then they throw in a bunch of other fees that I hadnt been expecting and when it was all done, I was looking at 4k more than I was told back when I ordered. I guess I was on the spot, and this being my first loan, I figured it should be ok, I can handle it anyway, and so I signed the papers and put down my 11k that I had been working all year to save up for. Voila, I own a new Camaro. But I didnt take delivery yet, I wanted the weather to clear up abit.
Then this past week I began figuring things out. When I finally had time to sit down and figure out how much he extra jump in payments was gonna affect me with the extra 4k I ended up paying plus the shorter loan term and early delivery, I realized that I have nearly no money left over each month and I dont know what the future years will hold for me. WHOAH! I realized with the extra money I ended up having to pay, all of my hard work, 18 hours a day, really wasnt gonna help much and I cant afford the car now. BUT WAIT!!! I ALREADY PAID FOR IT AND MY FIRST PAYMENT WILL BE HITTING MY BANK ACCOUNT IN 30 DAYS!!
But I remembered the 60 day gm return policy I signed. So this past saturday I headed back to the dealer to inquire about the return gaurantee thing. It was my only hope now of getting out. I get there and my salesman meets me and thinks I am there to pick up the car to take home. I tell him we need to talk. I told him that I ended up paying 4k more than the number we agreed on back in october when I ordered the car and I'm in a tight spot now because with the increased payments I really dont think I can afford the car anymore like i had planned. Keep in mind, it hasnt left the lot yet except for a short test drive. I ask how the return thing works, can I reverse the charges and they can just return my money and sell it as a new car since its still on the lot. No they cant just do that but that 60 day money back gaurantee is my only way out now. But as that plan states, you have to have the car between 30 and 60 days before you can return it. So he tells me that all I need to do is get it registered and insured for one month and make the one payment at the end of the month and then I can get my money back. I asked him a few times what ALL I will lose and he says JUST the one month insurance and one payment is all. But he says that I may as well take the car for the month and see what happens. I own it anyway. Just so long as I dont go over 4000 miles on it and dont damage it, I should get my money back at the end of the month. So I got it registered and took it home.
The drive home was one of the most amazing driving expieriences even though it was super foggy and cloudy out that day. The car handles like a dream. I feel like I am one with the car as I cruise down the highway. It feels so solid and yet so nimble and powerful, especially for a v6 engine. As I drove down the highway, a car passes me and i glance over and see a little boy with his face against the window of their van and his mouth open wide in awe as he stares at the car. At this point I dont care what anyone thinks anymore, I may own the car, but I know its too good to be true.
As I get ready for bed now, I am sort of looking forward to going to work tomorrow and taking the Camaro but I know everyone at work will be asking me about the car and they will be talking about it probably but to me its really not mine even though I officially own it right now. I am worried though, now just hoping that through all the fine print in that gm 60 day money back gaurantee, they end up not taking it back or else I end up losing thousands of dollars that I slaved so hard for nearly a year to earn.
It pains me to have to return my dream car in 30 days because I simply now can no longer afford it. I only wish they had kept the same price and payment plan that they told me when I ordered it. I guess I signed too soon thinking all will still be ok and I could still swing it no problem but it appears I cannot and now I want out.
This dream is now no dream at all but a nightmare and I still have a few months to go with my evening job. Those 18 hour days are gonna be like torture, having no exciting goal to work towards and keep my spirits up like it has been for the past couple months. Last friday, in fact, I left early from work. Told them I wasnt feeling well. Thinking about this whole situation I am in right now was making me so sick that I just couldnt bear to go on working till 2 in the morning. I broke down on the drive home that night just thinking about this stuation nonstop
Well, Thats my story. Thanks again to all you who have been excited with me and supporting me the past months with your encouraging words. I truly appreciate you all so much. You guys are awesome.

If someone knows anything about this 60 day money back gaurantee please tell me I can get out of this with minimal money loss. am I gonna lose out big time or is it truly a no risk deal like my sales guy and finance guy tells me? What happens to my extended warranty that I bought for 2 grand? can I get that back too somehow?



Man... you got had by the dealer. All of that stuff they "claimed" is a bunch of BS. The extended warranty is crap, forcing you into the car is crap... name and shame!

I've been following as well and that dealer deserves to get shot.
Chevy2tehBone is offline   Reply With Quote
Old 03-08-2010, 02:38 AM   #10
VS_Power
 
VS_Power's Avatar
 
Drives: Toyota Camry =( Dreaming of Camaro
Join Date: Feb 2010
Location: NorCal
Posts: 3
Hey Iyam_Lorne,

I've been following you since the beginning too. Each week if I didn't see a post from you I'd start to get worried that you'd given up, yet each week I was pleasantly shocked to see you sticking to your guns.

My advice to you is: don't worry, things will get better and you will still have your Camaro.

Since you're relatively new to the car buying market, you have to know that there are some salesmen (not all) that will cheat and lie to you to get more money. I've been in the same position many times, and a few times I'd play dumb just to see if they'd try to scam me. They always do.

The truth is, the Camaro is still selling relatively well now so if you don't buy the car, someone else likely will for the same or even higher price. The salesman really loses nothing by adding all these false additional fees. What you need to do is be more patient and not give the salesman the impression that you'll do anything for this car.

Now in your current situation, you will lose 1 payment on the car. I don't know if you'll get your extended warranty costs back but be prepared to fight for it. Also, remember the Camaro has excellent resale value so don't forget about that option if all else fails. There is nothing else you can do about the situation, so like the dealer said you might as well enjoy! You're lucky because you'll get to break in two brand new Camaros once you get your real car down the line.

Save up some more money, gather up your composure, and you'll be in a much better scenario a few months down the line. Start shopping around for loans from credit unions, see what you can find. Take this opportunity to raise your credit score. Save up for an even bigger down payment so you can make your monthly payments even cheaper. Remember, there's no way to decrease your monthly payments so a big down payment can be beneficial for the ups and downs.

The Camaro will drop significantly in price in the next few months. Dealer's will be looking to clear their 2010 models soon to make room for the 2011s. Who knows also, maybe there will be a new feature in the 2011s that makes you glad you waited?

I find a lot of inspiration in your threads and I know many others do as well. I don't post much either so take that as a compliment Keep at it and good luck!
VS_Power is offline   Reply With Quote
Old 03-08-2010, 04:16 AM   #11
JJ#48Racing

 
Drives: 1998 Camaro SS
Join Date: Oct 2008
Location: Lancaster, CA
Posts: 1,115
I'm sorry to hear about your situation. Your dealer took you for a ride, especially with the extended warranty and scaring you into thinking they won't approve you if you didn't buy now. I hope you can get out of your car with minimal damage and get another in the future.
JJ#48Racing is offline   Reply With Quote
Old 03-08-2010, 04:39 AM   #12
Scott@Bjorn3D


 
Scott@Bjorn3D's Avatar
 
Drives: Kami, 2013 2SS LS3 Luvin
Join Date: Oct 2008
Location: Eufaula, Alabama
Posts: 6,407
Send a message via MSN to Scott@Bjorn3D
Dude, dealer screwed you over big time. Extended warranty is not required by any bank for a loan. Sounds like they knew how bad you wanted the car and took advantage of you.
Scott@Bjorn3D is offline   Reply With Quote
Old 03-08-2010, 04:57 AM   #13
Vicny
 
Drives: 1SS Rally Yellow
Join Date: Sep 2009
Location: Upstate NY
Posts: 36
I thought the 60-day program was done...but if you signed paper with the 60-day policy on it, then you can prove they tried to deceive you. You better call GM or another dealer and find out for sure since I'm not positive about this.
Vicny is offline   Reply With Quote
Old 03-08-2010, 05:02 AM   #14
Lauryn200
I Pity The Fool
 
Lauryn200's Avatar
 
Drives: Jeep Wrangler '06 & VW GTI 09
Join Date: Jun 2009
Location: NYC
Posts: 875
Huh?

I've been following your plight to get this camaro but didn't think it would so soon.I believe you being a first time buyer and the salesman knew this,made you rush to take the car tho you wasn't ready.

Don't second guessed yourself.......wait and see what happens
__________________
........"Is custom faded?"
Jeep Wrangler 06 & VW GTI 09
"My Fast"-
Lauryn200 is offline   Reply With Quote
 
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Does the v6 have enough power? cstproductions Camaro V6 LLT Engine, Exhaust, and Bolt-Ons 305 08-29-2012 09:27 PM
GM memo to dealers Moose 5th Gen Camaro SS LS LT General Discussions 41 02-04-2010 07:33 PM
Major Pedders Event in Houston! Saturday, Jan 30th! Meet DMS Info@PeddersUSA.com USA - Texas 39 02-01-2010 12:48 PM
Suspension guys out there - lets talk wheel hop Crowley Suspension / Brakes / Chassis 14 10-09-2009 12:06 AM


All times are GMT -5. The time now is 03:25 PM.


Powered by vBulletin® Version 3.8.9 Beta 4
Copyright ©2000 - 2018, vBulletin Solutions, Inc.