Looking for some advice - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Earnhardtfan77 · 01-23-2011, 03:00 PM

I am currently driving a 2010 VW cc. I have had the car for a year and owe about 28k on the car still. I went to the Chevrolet dealer yesterday to see if I could get into a 2011 LS camaro. The deal they came up for me was, they would only give me 22,500 for my car. Leaving about 6k negative equity. I would have to put 3500 down for a 72 month loan and would be paying 515 a month at a interest rate of 5.4%.

Do you think I should just stuck with my current car and wait it out a little more and try to close the gap of my negative equity. Or does this seem like a good deal. Again this is only for a LS.

What are you current LS owners paying a month and how much did you put down and how long is your term.

04Ram2500Hemi · 01-23-2011, 03:03 PM

Money wise you're way better off to stick with the VW. That's what I would do if I were you.

Earnhardtfan77 · 01-23-2011, 03:06 PM

I am in love with the camaro but my gut is telling me to stick it out for awhile and maybe get a 2011 next year used. Which I'm sure their will be after the z28 releases

ketel0ne · 01-23-2011, 03:06 PM

I would not roll negative equity into an LS. 2010 LS can now be had for less than 20k. That will be the 2011 LS next year.

southerncarparts · 01-23-2011, 03:08 PM

I agree with 04Ram2500Hemi, Money-wise it's a better decision right now to stay put, but ultimately it's your decision. If it were me, I'd wait another year or so and work down some of that negative equity, or you could also try and sell the car privately for more if you think you could pull more locally/privately and put that towards the Camaro... just a thought.

Apex Motorsports · 01-23-2011, 03:08 PM

Quote:

Originally Posted by 04Ram2500Hemi

Money wise you're way better off to stick with the VW. That's what I would do if I were you.

This. Cars are not worth making bad decisions over. Put the $3500 towards paying down the VW and wait until you can at least make it out even. Let the dealer know that is what you are going to do and that you will be buying once you can get out even. They always hold back on trades, put it back in his court.

daveagogo1 · 01-23-2011, 03:13 PM

Quote:

Originally Posted by Earnhardtfan77

I am currently driving a 2010 VW cc. I have had the car for a year and owe about 28k on the car still. I went to the Chevrolet dealer yesterday to see if I could get into a 2011 LS camaro. The deal they came up for me was, they would only give me 22,500 for my car. Leaving about 6k negative equity. I would have to put 3500 down for a 72 month loan and would be paying 515 a month at a interest rate of 5.4%.

Do you think I should just stuck with my current car and wait it out a little more and try to close the gap of my negative equity. Or does this seem like a good deal. Again this is only for a LS.

What are you current LS owners paying a month and how much did you put down and how long is your term.

Stick with the VW. Your gonna kick yourself having had to pay $3.5k in cash plus $515 for the next 6yrs on an LS Camaro. Bad deal financially any way you look at it.

You will be losing big money now and losing big money down the road as well. Just an example here but i just bought a 35k loaded up 1SS put down almost 12k with 60mos @3.9% is about $460 a month

Earnhardtfan77 · 01-23-2011, 03:16 PM

Yeah I was looking through Kbb.com and Edmunds.com and I can get roughly around 25k for the car on a private sale

Earnhardtfan77 · 01-23-2011, 03:17 PM

Quote:

Originally Posted by daveagogo1

Stick with the VW. Your gonna kick yourself having had to pay $3.5k in cash plus $515 for the next 6yrs on an LS Camaro. Bad deal financially any way you look at it.

You will be losing big money now and losing big money down the road as well. Just an example here but i just bought a 35k loaded up 1SS put down almost 12k with 60mos @3.9% is about $460 a month

This is what I was thinking the entire time discussing the deal with them. I could have a V8 for this monthly price

Kahdir · 01-23-2011, 04:43 PM

Hold off at least until you can break even...

Elykson · 01-23-2011, 04:48 PM

Why mortgage your future now? Save your money and pay cash for your car.

Indpowr · 01-23-2011, 04:49 PM

Thats a lot of money for an LS!

1DERZ SS · 01-23-2011, 04:53 PM

That LS will cost you a total of $40,580.....I would keep your VWcc for another few years and put the $3500 towards the Camaro down the road

Cars will depreciate the most in the first 36-48 months and trading anytime before that, unless you put a sizeable amount down, you will find yourself always rolling negative equity.

Earnhardtfan77 · 01-23-2011, 05:09 PM

Quote:

Originally Posted by 1DERZ SS

That LS will cost you a total of $40,580.....I would keep your VWcc for another few years and put the $3500 towards the Camaro down the road

Cars will depreciate the most in the first 36-48 months and trading anytime before that, unless you put a sizeable amount down, you will find yourself always rolling negative equity.

Yeah I think this will be the best option.

01-23-2011, 03:00 PM	#1
Earnhardtfan77 Drives: Summit White 2012 1LT/RS Join Date: Dec 2010 Location: California Posts: 191	Looking for some advice I am currently driving a 2010 VW cc. I have had the car for a year and owe about 28k on the car still. I went to the Chevrolet dealer yesterday to see if I could get into a 2011 LS camaro. The deal they came up for me was, they would only give me 22,500 for my car. Leaving about 6k negative equity. I would have to put 3500 down for a 72 month loan and would be paying 515 a month at a interest rate of 5.4%. Do you think I should just stuck with my current car and wait it out a little more and try to close the gap of my negative equity. Or does this seem like a good deal. Again this is only for a LS. What are you current LS owners paying a month and how much did you put down and how long is your term. __________________ 2012 Summit White 1LT/RS Cold Air Inductions CAI, VMaxx ported throttle body, RX catch can, Led Interior Lights, Led License plate lights, Hood Spears, Blacked Out Rear Trunk panel, Gills, Blacked Out Front Fascia, and Bow tie

01-23-2011, 03:06 PM	#3
Earnhardtfan77 Drives: Summit White 2012 1LT/RS Join Date: Dec 2010 Location: California Posts: 191	I am in love with the camaro but my gut is telling me to stick it out for awhile and maybe get a 2011 next year used. Which I'm sure their will be after the z28 releases __________________ 2012 Summit White 1LT/RS Cold Air Inductions CAI, VMaxx ported throttle body, RX catch can, Led Interior Lights, Led License plate lights, Hood Spears, Blacked Out Rear Trunk panel, Gills, Blacked Out Front Fascia, and Bow tie

01-23-2011, 03:16 PM	#8
Earnhardtfan77 Drives: Summit White 2012 1LT/RS Join Date: Dec 2010 Location: California Posts: 191	Yeah I was looking through Kbb.com and Edmunds.com and I can get roughly around 25k for the car on a private sale __________________ 2012 Summit White 1LT/RS Cold Air Inductions CAI, VMaxx ported throttle body, RX catch can, Led Interior Lights, Led License plate lights, Hood Spears, Blacked Out Rear Trunk panel, Gills, Blacked Out Front Fascia, and Bow tie

01-23-2011, 04:48 PM	#11
Elykson Custom One Off Drives: 2010 Chicago Blackhawks Edition #1 Join Date: Oct 2010 Location: Madhouse on Madison Posts: 1,190	Why mortgage your future now? Save your money and pay cash for your car. __________________ Vararam Intake/SLP Loud Mouth II/BBK LT HFC/Magnaflow x-pipe/Pfadt Springs/Black Ice-olator/FE3 suspension/VMAX TB/RX catch can/Trifecta Tune http://www.camaro5.com/forums/showthread.php?t=129416

01-23-2011, 04:53 PM	#13
1DERZ SS Drives: 2010 Camaro SS Join Date: Nov 2009 Location: North East, PA (the town) Posts: 327 View My Garage	That LS will cost you a total of $40,580.....I would keep your VWcc for another few years and put the $3500 towards the Camaro down the road Cars will depreciate the most in the first 36-48 months and trading anytime before that, unless you put a sizeable amount down, you will find yourself always rolling negative equity. __________________ Friday the 13th was a lucky day for me ! 2010 Camaro SS Inferno Orange Came home on 11/13/2009 2011 Silverado 2500 HD Crew LTZ 11/17/2010

01-23-2011, 03:03 PM	#2
04Ram2500Hemi Drives: 04 Ram 2500 & 2010 Camaro 2SS/RS Join Date: Feb 2010 Location: Missoula, Montana Posts: 1,301	Money wise you're way better off to stick with the VW. That's what I would do if I were you.

01-23-2011, 03:06 PM	#4
ketel0ne Drives: Used to have 2010 SGM Join Date: Jul 2010 Location: Charles Town, WV Posts: 1,314 View My Garage	I would not roll negative equity into an LS. 2010 LS can now be had for less than 20k. That will be the 2011 LS next year.

01-23-2011, 03:08 PM	#5
southerncarparts Drives: 2009 Corvette Z06 Join Date: Aug 2009 Location: Marietta, GA Posts: 2,141	I agree with 04Ram2500Hemi, Money-wise it's a better decision right now to stay put, but ultimately it's your decision. If it were me, I'd wait another year or so and work down some of that negative equity, or you could also try and sell the car privately for more if you think you could pull more locally/privately and put that towards the Camaro... just a thought.

01-23-2011, 04:43 PM	#10
Kahdir Drives: 2010 Chevrolet Camaro 2SS/RS Join Date: Aug 2008 Location: PA Posts: 2,178 View My Garage	Hold off at least until you can break even...

01-23-2011, 04:49 PM	#12
Indpowr Account Suspended Drives: Corvette C6 Join Date: May 2008 Location: Florida Posts: 6,959 View My Garage	Thats a lot of money for an LS!

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