[255X3SS]

I'm currently 19 and I'm really interested in a 6th Gen Camaro SS. By near future I mean a year or two so I should be 20 or 21 by then. I'm looking at getting a 2SS Auto too since I've seen how well they work even though I prefer a manual.

How much should I save to get my payments around 500 and how much is insurance for you guys that are near 21?

For any Nerds, you might understand my username

[Capisce]

Depends on the price of your 2SS. You'll need a down payment probably in the neighborhood of 10-20k. Below you can see what you want your financed amount to be for the interest rates shown to get a $500 payment.

[kesbar]

You should definitely call your insurance company for a free rate quote. When I was 19, getting full coverage on a Camaro was very expensive. Going straight up liability on a new car is a terrible idea.

[2016 1ss]

Originally Posted by 255X3SS

I'm currently 19 and I'm really interested in a 6th Gen Camaro SS. By near future I mean a year or two so I should be 20 or 21 by then. I'm looking at getting a 2SS Auto too since I've seen how well they work even though I prefer a manual.

How much should I save to get my payments around 500 and how much is insurance for you guys that are near 21?

For any Nerds, you might understand my username

Welcome to the forums first off!

Secondly I'm in Arizona also, what part of town are you in?

And lastly I'm 21 traded in my 01 ss for 10k, got an employee discount of 4K and so I only financed 26k with 2.89% over 72 months and Im just over 400 per month. I pay $150 a month full coverage on my 1ss and 94 v6 camaro for Daily driving. The 150 also includes glass, my renters and life insurance.

[255X3SS]

Originally Posted by 2016 1ss

Welcome to the forums first off!

Secondly I'm in Arizona also, what part of town are you in?

And lastly I'm 21 traded in my 01 ss for 10k, got an employee discount of 4K and so I only financed 26k with 2.89% over 72 months and Im just over 400 per month. I pay $150 a month full coverage on my 1ss and 94 v6 camaro for Daily driving. The 150 also includes glass, my renters and life insurance.

I live in Buckeye but I go to school at UTI.

Seeing some posts, they say, put 10 thousand down or more, and then expect a good 400+ on insurance a month.

[2016 1ss]

Originally Posted by 255X3SS

I live in Buckeye but I go to school at UTI.

Seeing some posts, they say, put 10 thousand down or more, and then expect a good 400+ on insurance a month.

10k down would be the minimum to me but it all depends on what you can afford and if you can justify the payment. And if your going to get a camaro at 21 that's when my insurance went down for me but there's never the same insurance for 2 people so idk. What I did so at your age was have my dad listed as a secondary driver and it helped my rates.

[ChefBorOzzy]

Maybe buy a used one if you're doing it in a year or two? That's the route I would go if I were looking for a great deal.

[SPARTAN sui]

If you prefer a manual, pocket the money and get a manual. It looks like people are not having issues getting the 6 speed to run just as quickly as the auto. If you can go either way, the auto is a lot of fun as well and gets great mileage at cruising speed. Though it's difficult to keep your foot off the pedal.

If I were in your position, I would probably look at getting a nice used one in a year or two. Then you won't have to worry about the depreciation hit and you'll be able to hit that $500/month monthly payment easily.

[formoutofchaos]

register the car in a family members name in a cheaper ins neighborhood and add you as a secondary driver parttime

[DenverTaco07]

yeah, lie so the rest of us can pick up the higher rates.

No, look insurance on this car for a 21 year old is going to be pretty high, but you'll have to find that out.

Now, most loan calculators don't factor sales tax, so I use the cars.com one...the best IMO.

Assuming you negotiate a 2SS at $43K
8% sales tax
3.6% APR for 60 months
$500.41 monthly will require a $19,000 down payment.

[255X3SS]

Originally Posted by DenverTaco07

yeah, lie so the rest of us can pick up the higher rates.

No, look insurance on this car for a 21 year old is going to be pretty high, but you'll have to find that out.

Now, most loan calculators don't factor sales tax, so I use the cars.com one...the best IMO.

Assuming you negotiate a 2SS at $43K
8% sales tax
3.6% APR for 60 months
$500.41 monthly will require a $19,000 down payment.

Wow, 19 thousand to put down for 500. How much would 10 thousand down get me?

[DenverTaco07]

Originally Posted by 255X3SS

Wow, 19 thousand to put down for 500. How much would 10 thousand down get me?

Play around with the numbers, use numbers you know are accurate, but assuming the same numbers...

10K down = $664.54 for 60 months.

http://www.cars.com/go/advice/financ....jsp?mode=full

[bpang1234]

I have Progressive and their website has the ability to show me what a change to the policy will do to my rates. I use this when I am making car decisions.

I concur with the other poster telling you it might be best to buy used. Get a 2016 in 2018. Hopefully either well maintained or Certified Pre-Owned. Let another person absorb the first two years of depreciation. It will put you in a much better financial spot than going balls deep into a brand new car when you're only 20-21.

At that age, if I was able to do it all over, I wouldn't have put myself into a loan on an expensive car. Such loans can weigh you down at a point in your life that financial freedom can lead to career growth (for instance taking an awesome internship in your dream job / career field versus having to work an hourly job to cover your loan).

[255X3SS]

Well by this advice, I was thinking about getting back into a cobalt SS/TC and building that a little bit then getting into a New Camaro SS. I'm thinking about buying my brother's old cobalt SS/TC. It already mostly built with a built trans, LDK block, and KY S3 clutch and full bolt ons with injectors so it's really close to full E85 and being a really fast 4CYL.