Will this 2016 2LT/RS be worth 15k in 5 years from now?

Ant · 09-13-2016, 01:29 PM

I gave a $500 to my dealer on a 2016 2LT/RS Hyper Blue with black interior. Fully loaded...technology package/8" touch screen, moonroof, performance exhaust, interior lighting.

We came to an agreement of $33,535 on the price (MSRP is $41,070). I decided to do a balloon loan rather than a lease. The loan will be for $35k (tried to squeeze some of the money for taxes in there) for 5 years, $383 a month.

Supposedly, the balloon at the end will be $15,600. Do you think I will have a problem selling my car or trading it in for that amount if I drive approximately 15,000 miles per year (an assuming it's in great condition)? What if I drove the car for 3 years and tried getting rid of it then?

SpeedIsLife · 09-13-2016, 01:30 PM

Hard to say, given we don't know what the economy will be like in 5 years time.

V6 or Turbo 4?

Chad0311 · 09-13-2016, 01:32 PM

So at the end of 5 years, you would have 75,000 miles on a v6 camaro and will still owe almost 16,000 dollars on it.

No, I don't think it will be worth that, and yes I do think you will have trouble selling it.

My advice is not to look for cars with a 41k MSRP if you have to do a balloon loan to affoard it. Get a lease if you plan on getting out of it and are only concerned with the payment. Then you at least have the option to purchase it if the market value is above the residual or let it go if it is under.

Ant · 09-13-2016, 01:42 PM

Quote:

Originally Posted by SpeedIsLife

Hard to say, given we don't know what the economy will be like in 5 years time.

V6 or Turbo 4?

V6

SpeedIsLife · 09-13-2016, 01:45 PM

I'd say you have a slim, but real, chance of getting 15,000 *private party*

No chance in hell on dealer trade in...you'd be lucky to get 5,000. Dealers love to screw people over super hard there.

cellsafemode · 09-13-2016, 01:48 PM

I dont know.

5 year old 5th gen LS camaro's in his area are selling for 13-15k with 65k miles on them. With inflation and the much better 6th gen V6 with all those options, might be able to pull that balloon off.

http://www.autotrader.com/cars-for-s...owToolbar=true

Lemosine · 09-13-2016, 02:42 PM

Quote:

Originally Posted by cellsafemode

I dont know.

5 year old 5th gen LS camaro's in his area are selling for 13-15k with 65k miles on them. With inflation and the much better 6th gen V6 with all those options, might be able to pull that balloon off.

http://www.autotrader.com/cars-for-s...owToolbar=true

But you have to remember, those are dealers selling it so its a big difference. You could possibly private party but if its something over blue book banks wont finance. Unless they added their own money to help, but that's if they really wanted the car. My GTO KBB was 12-13K and I sold her to a military General for 16k. He really wanted the car and know how rare it was to get a Blue GTO with Blue interior with Manual Trans.

SS 1LE · 09-13-2016, 03:10 PM

Sounds like the old GM "smart leases" of a decade ago...

mt3130 · 09-13-2016, 04:00 PM

That sounds like a losing proposition to me. If best case scenario is you break even, then I wouldn't take the risk. The most likely outcome is that you have to throw in a couple thousand bucks to get rid of a car.

mcintyre1969 · 09-13-2016, 04:15 PM

You may not be around in 5 years, wth , go for it!

Rsblueblood · 09-13-2016, 04:24 PM

Just throwing this out there 33k sounds high with the sale going on. The math also didn't add up 383 for 5yrs is only 22k, 35k is around 600 a month payment.

Lord Dirt · 09-13-2016, 04:32 PM

I believe it would be close

BigGuy81 · 09-13-2016, 04:48 PM

Probably not.

Ant · 09-13-2016, 05:24 PM

Quote:

Originally Posted by Rsblueblood

Just throwing this out there 33k sounds high with the sale going on. The math also didn't add up 383 for 5yrs is only 22k, 35k is around 600 a month payment.

It's because I'm doing the balloon/payment saver loan option. Well, if I decide to take the car.

09-13-2016, 01:29 PM	#1
Ant Drives: 2017 Camaro 1LT/RS (V6) Join Date: Dec 2008 Location: Long Island, NY Posts: 911	Will this 2016 2LT/RS be worth 15k in 5 years from now? I gave a $500 to my dealer on a 2016 2LT/RS Hyper Blue with black interior. Fully loaded...technology package/8" touch screen, moonroof, performance exhaust, interior lighting. We came to an agreement of $33,535 on the price (MSRP is $41,070). I decided to do a balloon loan rather than a lease. The loan will be for $35k (tried to squeeze some of the money for taxes in there) for 5 years, $383 a month. Supposedly, the balloon at the end will be $15,600. Do you think I will have a problem selling my car or trading it in for that amount if I drive approximately 15,000 miles per year (an assuming it's in great condition)? What if I drove the car for 3 years and tried getting rid of it then?

09-13-2016, 04:15 PM	#10
mcintyre1969 Drives: 1968 SS/RS, 2006 H2 2016 2SS White Join Date: Sep 2015 Location: Texas ( Southern Moron) Posts: 770	You may not be around in 5 years, wth , go for it! __________________ 2016 2SS White fully loaded

09-13-2016, 04:32 PM	#12
Lord Dirt Drives: 2016 Chevrolet Camaro 2SS Join Date: Jul 2016 Location: ARLINGTON, TX Posts: 157	I believe it would be close __________________ GARNET RED TINTCOAT 2SS, A8, NPP DUAL EXHAUST, MY LINK AUDIO SYSTEM W/NAV, 20" Staccato M183 Black Niche Wheels, Toyo Proxes 4 Tires, ROTO-FAB CAI, Black ZL1 Spoiler, DARKEST LEGAL TINT, Black "SS" TIRE VALVE STEMS, CAMARO SS LICENSE PLATE FRAME

09-13-2016, 01:30 PM	#2
SpeedIsLife Drives: Current Camaro-less Join Date: Jul 2014 Location: Oregon Posts: 3,242	Hard to say, given we don't know what the economy will be like in 5 years time. V6 or Turbo 4?

09-13-2016, 01:32 PM	#3
Chad0311 Likes V8 powered vehicles Drives: '16 Chevy Colorado Z71 Duramax Join Date: Aug 2015 Location: NC (formerly CA) Posts: 305	So at the end of 5 years, you would have 75,000 miles on a v6 camaro and will still owe almost 16,000 dollars on it. No, I don't think it will be worth that, and yes I do think you will have trouble selling it. My advice is not to look for cars with a 41k MSRP if you have to do a balloon loan to affoard it. Get a lease if you plan on getting out of it and are only concerned with the payment. Then you at least have the option to purchase it if the market value is above the residual or let it go if it is under.

09-13-2016, 01:45 PM	#5
SpeedIsLife Drives: Current Camaro-less Join Date: Jul 2014 Location: Oregon Posts: 3,242	I'd say you have a slim, but real, chance of getting 15,000 private party No chance in hell on dealer trade in...you'd be lucky to get 5,000. Dealers love to screw people over super hard there.

09-13-2016, 01:48 PM	#6
cellsafemode Drives: 2016 Camaro 1LT Join Date: Jan 2016 Location: California Posts: 3,491	I dont know. 5 year old 5th gen LS camaro's in his area are selling for 13-15k with 65k miles on them. With inflation and the much better 6th gen V6 with all those options, might be able to pull that balloon off. http://www.autotrader.com/cars-for-s...owToolbar=true

09-13-2016, 03:10 PM	#8
SS 1LE マスタング = 遅い Drives: 2017 Chevrolet Camaro SS 1LE Join Date: Aug 2015 Location: Florida Posts: 7,061	Sounds like the old GM "smart leases" of a decade ago...

09-13-2016, 04:00 PM	#9
mt3130 Drives: Coupeless :( Join Date: Jan 2015 Location: SWFL Posts: 980	That sounds like a losing proposition to me. If best case scenario is you break even, then I wouldn't take the risk. The most likely outcome is that you have to throw in a couple thousand bucks to get rid of a car.

09-13-2016, 04:24 PM	#11
Rsblueblood Kywildcats Drives: 2020 2SS shock and steel (shocker) Join Date: Jul 2016 Location: Kentucky Posts: 232	Just throwing this out there 33k sounds high with the sale going on. The math also didn't add up 383 for 5yrs is only 22k, 35k is around 600 a month payment.

09-13-2016, 04:48 PM	#13
BigGuy81 Account Suspended Drives: Man Join Date: May 2016 Location: https://t.me/pump_upp Posts: 143	Probably not.

User Name		Remember Me?
Password