Is this a good deal on a 2010 2LT ABM?

[SIN R G]

I agree with others that have told you this is not a very wise thing to do. Right now you want this car soooooo bad that your willing to take out a loan for 72 months. That is a super long time to pay for a 5 year old car and you will be upside down in this loan real fast. In 2 or 3 years your going to see another car that you will want soooooooo bad. You will be in the same boat you are in now having to roll what you owe on this one into the loan for that one.

Back when I was your age I had lots of ideas to buy cars and would have done the same thing your thinking of doing. Back then credit was not so easy to get and you needed someone to cosign on a loan. My dad would not do it and I was always so pissed at him. Now looking back almost 40 years, my dad was a really smart guy. Take our advice and wait till you can get something more reasonable. Trust me, in 40 years you will look back and say "Damn, those old guys on Camaro5 were right"!

[Hetfield03]

I paid less 1.5 years ago. 2010 2LT, 34000 miles. Unless your credit sucks.

[PalmerGA]

Originally Posted by Ant

How do you figured $28,728 if the car is only $20K + $4,100 for what I owe on the lease?

Do the math! This is something many (especially younger) buyers don't consider. You go into a dealership with a maximum monthly payment in mind, tell the finance guy what you can afford, and then when they hit a few bucks below your number you think it's a good deal. You have to consider the "total note" amount. NEVER tell a salesman how much of a payment you can afford.

[pyroguy]

I would keep looking. While they are rare, there are still others out there. I paid $27 for my 2SS/RS w/22k miles 2 years ago (I got a good deal from a private party). There was a 2SS/RS with 18k miles at my local dealer a couple months ago listed for $27,990 and they let it go for about $26k. Morale of the story, don't settle. If you do you will only be filled with regret later. Search, be patient, and get what you really want at the right price.

[lbls1]

I like the color, but I would agree with the others, in that IMO the car seems overpriced. For the money you probably would find an equally equipped 'SS (you may even find one in ABM if you really look hard).

In any event, shop around.

[TPAJETSKI]

They are rolling your early lease termination fee into the new loan. So you are paying that 4,100 one way or the other unless they feel there is 4,100 in equity in the Mazda (which I doubt). I've done a couple leases. If you get into one, make sure you want to keep it for the life of the lease because early termination is costly. In short, no way would I make that deal.

[Mels RS]

Originally Posted by Ant

I'm just so in love with the ABM color and this is the closest I've gotten to finding one within my budget. :(

Find a newer, cheaper white car and have it painted or wrapped!

[im2smart4u]

I paid a little less than that for my 2010 VR 2LT RS with manual trans and 35K miles. It was 19 something. I also have it on a 72 month agreement. My payments are only a little over $300 a month though, and I don't even have real good credit. I went against the advise of some of the people here and told them I wanted payments around $300. The finance guy kept leaving and coming back, with different loans and interest rates. It went from over 6% down to around 2% to get the payments where I wanted them.

[TommyTheCat]

Sounds like a terrible deal to me. I got my Camaro for less than $21,000 new, and that one is older, used, with 20,000 miles.

If you can get a loan and buy from a private party, you'd get the same year SS for that price. Or newer...

[Baba]

OP: There's solid food-for-thought that's been offered. It's not a wise decision. By the time you pay off the ABM you're looking at, it'll be a 10+ year old car. Low miles aren't going to influence the trade-in value that greatly (if at all) when the next thing that catches your eye comes along.

The 6th Gen. will be offered in Velvet Blue(?). It's not ABM but it's not IBM, either. Don't continue to put yourself in tight spots. All you'll ever do is scramble to make payments.

One way to stay out of financial tight spots is to avoid putting yourself in them in the first place. Be smart.

[Bulldog3071]

don't do it that a terrible amount in finance charges

[Austin45]

Don't do it, here is a 2010 2SS for 23k. That car is WAY over priced.

http://www.landerschevrolet.com/deta...-13919328.html

[Snoman]

Originally Posted by Ant

I had to trade in my ABM back in 2009 due to financial issues as I was only 19 at the time.

I've been dying to get it back ever since. However, I'm currently stuck in a lease with a 2014 Mazda3. I found a 2010 2LT ABM automatic (no RS package though :-/) that is about $25K with 22,000+ miles on it.

The dealer said they're having a special and I can get it for $20K. They will take my lease from me (it would cost me $4100 to get out of it on my own) and let me finance the car for $399 a month for 72 months with no money down after taxes and fees.

My car payments now are only $248 a month, but I've already gone over my miles on my lease so I'm afraid I'll get screwed at the end. The Camaro payments would be more per month, but at least I'd own the car.

You have a lease/rental agreement, not ownership payments.

Retail it's worth $19-20k, they aren't doing you any favors at all...it's some fancy math with shiny objects to keep your head spinning so you stay confused. If you have the cash flow to justify $400/mo @ 13% interest for 6 years because that is the best credit you can obtain, then by all means....buy it and rebuild your credit. Only a fool would take this loan to term however, I would pay off the car in under 3 years of payments ~700/mo. Then again, I wouldn't accept 13% interest today on anything either.

Find a RS model and better interest imo, but hey it's your choice and if you have to own it today...its available.

[Rock-It Man]

Originally Posted by PalmerGA

Disagree... you'll be paying $28,728 for an (almost) six year old car, over the life of the loan. By the time you pay it off in 5 years, it will be worth practically nothing and should you decide to trade it in before then you will owe much more than it's worth. I suppose it may be worth $20K now (maybe), but you will be financing $8,728 more than that and still be driving a 5-6 year old car. I think you can get a 2015 LS for about $20K.

DON'T DO IT! Sounds like you already made a bad deal on your lease car... don't make another one on top of it.

I agree. A 72 month loan is a bad deal under any circumstances, but on a 2010?

That is a terrible idea.