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Old 03-21-2018, 08:04 AM   #1
Need4Camaro

 
Drives: '17 Camaro 2SS & '99 Camaro Z28
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Thinking of trading both of my Camaro's for a 2SS

and can't decide if I want to do it or not.
If I do, the payments will be cheaper than my current 1LT V6 (as I have a down payment, significant rebates, and 84 month financing available.)

The main fiats with my 1LT V6 is my heat is intermittently not working and GM doesn't want to do a thing about it (although I've at this point escalated this higher up the chain and am awaiting feedback and am willing to go the attorney route if need be as I have one.).

For the 99 Z28 (which I've done alot of cosmetic work, redid the entire interior, as well as installed a built 4L60E from a reputable vendor - capable of supporting 600WHP and had plans on building a forged motor / applying boost and a MWC 9" Fabricated Rear Axle -- even in mostly stock form the car gets alot more compliments than my 6th Gen does, oddly.) - if I trade it in they will give me an extra 3 Grand toward the purchase and I also won't have to worry about handling two cars (or modding my 4th Gen thus releasing my finances for other areas of my life.) It's going to cost a pretty penny to complete my 99 Z28 and I'm not quite satisfied with it as it is although it is still a sweet car. Also the car isn't known to be reliable, although lately a bit more than it has been in the past, I recently had to replace my SLP intake LID because it cracked and fouled out the MAF, also just installed my new Transmission because the stocker started slipping but thats expected at this mileage.

The idea would be converging two cars into one and eliminating all the money I'm spending on mods and repairs from my 99 Z28, while giving me a car with heat for my 1LT V6.. while sounding good on paper though admittedly the mod bug is still in me.. but after testing driving a 2SS I don't think I would have a need or desire to mod that car for awhile, if ever - besides maybe intake and exhaust (but I hear the gains from these are so negligible that its almost not worth it)...

There's also a chance (although unconfirmed) that I may end up moving to California in the near future and if that happens I don't know if I will be able to do much more, if anything to my 99 Z28.

What would suck is, I've invested quite a bit in my Z28 (Brembo Brakes, 19" Wheels, Repaired the body kit and had it repainted but it really needs to be repainted again, Modernized the interior by a good bit, Corvette Window motors in both doors not prone to the thermal resistor failure and MUCH faster than the stock F-Body Window Motors, Custom leather seats (grey and orange), Custom Gauge cluster with both analog and digital speed readings and an OBD read out (AIT, A/F Ratio, Water Temp, Throttle Percentage, Alot more.) built into the cluster... Would I miss it? In ways yes, because its my on hands and work that kept that car running, and it has T-Tops, and its one of the last of its kind that isn't utterly trashed out.

Overall though I'm seeing on paper that owning one 6th Gen 2SS would be cheaper than a 1LT V6 and a 99 Z28 (I will save a combined $400 a month with car payments and insurance considered on top of not spending in repairs or mods for the 99 Z28.)

So I'm not really sure.

I think what is really beginning to scare me is investing $20,000 into my 99 Z28 (approximately what my boost project is going to cost when all said and done on top of having all the body work re-done .. last body shop left the car covered in soots of overspray and did a horrible prep job and I have dimples in the paint on the nose of the car.) and finding that I STILL want a 2SS in the end.
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Old 03-21-2018, 08:05 AM   #2
oneredry
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I can tell you right now, that you won't get didilly for your cars if you do a trade in. better off selling it out right. Especially the 99 when you did that much work to it. Keep in mind also, that you most likely won't get what you put into it.
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Old 03-21-2018, 08:22 AM   #3
Need4Camaro

 
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Quote:
Originally Posted by oneredry View Post
I can tell you right now, that you won't get didilly for your cars if you do a trade in. better off selling it out right. Especially the 99 when you did that much work to it. Keep in mind also, that you most likely won't get what you put into it.
Yeah, I was aware of that.

I had it appraised and Chevy is willing to give me 3 Grand for the 99 (which is pretty good considering its above KBB.) The 1LT V6 took a nose dive (MSRP was right at $30k and now they will only give about $18.5k for it, so it took a HUGE depreciation hit and it left me slightly upside down.) It's the rebate in this equation thats the game changer.

Selling the Z28 out right I "may" be able to get 5 grand out of it mainly because of all the customization.
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Old 03-21-2018, 08:28 AM   #4
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Quote:
Originally Posted by Need4Camaro View Post
and can't decide if I want to do it or not.
If I do, the payments will be cheaper than my current 1LT V6 (as I have a down payment, significant rebates, and 84 month financing available.)

The main fiats with my 1LT V6 is my heat is intermittently not working and GM doesn't want to do a thing about it (although I've at this point escalated this higher up the chain and am awaiting feedback and am willing to go the attorney route if need be as I have one.).
Did you just use "Fiat" as a synonym for "problem"? I love it.
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Old 03-21-2018, 08:37 AM   #5
RollaMo

 
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Quote:
Originally Posted by Need4Camaro View Post
The 1LT V6 took a nose dive (MSRP was right at $30k and now they will only give about $18.5k for it, so it took a HUGE depreciation hit and it left me slightly upside down.) It's the rebate in this equation thats the game changer.
You can't go by what MSRP was.
What did you actually pay for the car when purchased new?

One of the reasons for higher than expected depreciation, is because when the actual new car selling prices goes down (incentives, good deals, etc) that also affects the value of all the used cars down the line.

Most new cars today will depreciate faster than you can pay on them for the first 2 or 3 years.

And it wouldn't be a very smart move on your part to get that 84 month financing on that 2SS your wanting.
Yes, the payments will be less. The car will still depreciate, but with those slightly smaller payments you will not be keeping up with the depreciation.
3 or 4 years into your 7 year loan, you will own more on the car than it's worth.

Everyone wants a smaller payment.
But it comes at a price!
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Old 03-21-2018, 08:54 AM   #6
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Quote:
Originally Posted by RollaMo View Post
You can't go by what MSRP was.
What did you actually pay for the car when purchased new?

One of the reasons for higher than expected depreciation, is because when the actual new car selling prices goes down (incentives, good deals, etc) that also affects the value of all the used cars down the line.

Most new cars today will depreciate faster than you can pay on them for the first 2 or 3 years.

And it wouldn't be a very smart move on your part to get that 84 month financing on that 2SS your wanting.
Yes, the payments will be less. The car will still depreciate, but with those slightly smaller payments you will not be keeping up with the depreciation.
3 or 4 years into your 7 year loan, you will own more on the car than it's worth.

Everyone wants a smaller payment.
But it comes at a price!
my exact thoughts.


you will owe more until about 30% of term left on the loan. I bought my 2ss fully loaded new for 40 in cash which saved tons on interest but when I went to look at the zl1 1le four months later they offered me 27k with 3k miles on it. it was better to just keep it for the depreciation it had.
getting a longer term may be better for your situation/pockets but in the end you will spend around 1/3 of the cars value just in interest and be half way through the loan and still owe 10k more than the car is worth.
they are damn fun cars and expensive
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Old 03-21-2018, 09:35 AM   #7
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No one should, in good financial sense, make an auto loan for longer than 48 months.

Sometimes it sucks having to wait a bit longer, but if you can't make 48 happen (max), then work on saving up capital. Dealing with a faulted vehicle, your 1LT, sucks but bite that bullet and make the smarter decision, not a hasty one.
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Old 03-21-2018, 09:49 AM   #8
shaffe


 
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Quote:
Originally Posted by crysalis_01 View Post
No one should, in good financial sense, make an auto loan for longer than 48 months.

Sometimes it sucks having to wait a bit longer, but if you can't make 48 happen (max), then work on saving up capital. Dealing with a faulted vehicle, your 1LT, sucks but bite that bullet and make the smarter decision, not a hasty one.
I agree for the most part except for the 48 months, most i would go is 60 months. And even then that depends on if you know you are keeping the vehicle.

To the OP point, thats 7 years of car payments. That to me is asinine to finance a car for that long. I personally would just try to unload the Z28 and use that money towards trying to pay down the current loan as fast as possible or save it for a bigger down payment if a SS is what you really desire.
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Lets keep it simple. ..
it has more power...its available power is like a set kof double Ds (no matter where your face is... theyre everywhere) it has the suspension to mame it matter...(
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Old 03-21-2018, 09:57 AM   #9
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You can not trade out of a upside down loan. Interest and deprecation will make the ship sink lower.
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Old 03-21-2018, 10:09 AM   #10
red_johnny
 
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Why not get a used 2SS?
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Old 03-21-2018, 10:24 AM   #11
modru2004
 
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i don't think he ever specified used or new.
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Old 03-21-2018, 10:39 AM   #12
shaffe


 
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Originally Posted by modru2004 View Post
i don't think he ever specified used or new.
He mentioned rebates and special 84 month financing. That says new to me
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Originally Posted by 72MachOne99GT View Post
Lets keep it simple. ..
it has more power...its available power is like a set kof double Ds (no matter where your face is... theyre everywhere) it has the suspension to mame it matter...(
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Old 03-21-2018, 11:03 AM   #13
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Quote:
Originally Posted by Need4Camaro View Post
and can't decide if I want to do it or not.
If I do, the payments will be cheaper than my current 1LT V6 (as I have a down payment, significant rebates, and 84 month financing available.)

The main fiats with my 1LT V6 is my heat is intermittently not working and GM doesn't want to do a thing about it (although I've at this point escalated this higher up the chain and am awaiting feedback and am willing to go the attorney route if need be as I have one.).

For the 99 Z28 (which I've done alot of cosmetic work, redid the entire interior, as well as installed a built 4L60E from a reputable vendor - capable of supporting 600WHP and had plans on building a forged motor / applying boost and a MWC 9" Fabricated Rear Axle -- even in mostly stock form the car gets alot more compliments than my 6th Gen does, oddly.) - if I trade it in they will give me an extra 3 Grand toward the purchase and I also won't have to worry about handling two cars (or modding my 4th Gen thus releasing my finances for other areas of my life.) It's going to cost a pretty penny to complete my 99 Z28 and I'm not quite satisfied with it as it is although it is still a sweet car. Also the car isn't known to be reliable, although lately a bit more than it has been in the past, I recently had to replace my SLP intake LID because it cracked and fouled out the MAF, also just installed my new Transmission because the stocker started slipping but thats expected at this mileage.

The idea would be converging two cars into one and eliminating all the money I'm spending on mods and repairs from my 99 Z28, while giving me a car with heat for my 1LT V6.. while sounding good on paper though admittedly the mod bug is still in me.. but after testing driving a 2SS I don't think I would have a need or desire to mod that car for awhile, if ever - besides maybe intake and exhaust (but I hear the gains from these are so negligible that its almost not worth it)...

There's also a chance (although unconfirmed) that I may end up moving to California in the near future and if that happens I don't know if I will be able to do much more, if anything to my 99 Z28.

What would suck is, I've invested quite a bit in my Z28 (Brembo Brakes, 19" Wheels, Repaired the body kit and had it repainted but it really needs to be repainted again, Modernized the interior by a good bit, Corvette Window motors in both doors not prone to the thermal resistor failure and MUCH faster than the stock F-Body Window Motors, Custom leather seats (grey and orange), Custom Gauge cluster with both analog and digital speed readings and an OBD read out (AIT, A/F Ratio, Water Temp, Throttle Percentage, Alot more.) built into the cluster... Would I miss it? In ways yes, because its my on hands and work that kept that car running, and it has T-Tops, and its one of the last of its kind that isn't utterly trashed out.

Overall though I'm seeing on paper that owning one 6th Gen 2SS would be cheaper than a 1LT V6 and a 99 Z28 (I will save a combined $400 a month with car payments and insurance considered on top of not spending in repairs or mods for the 99 Z28.)

So I'm not really sure.

I think what is really beginning to scare me is investing $20,000 into my 99 Z28 (approximately what my boost project is going to cost when all said and done on top of having all the body work re-done .. last body shop left the car covered in soots of overspray and did a horrible prep job and I have dimples in the paint on the nose of the car.) and finding that I STILL want a 2SS in the end.

Whats faster? the 99 z/28 or the v6?
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Old 03-21-2018, 11:34 AM   #14
qcman

 
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Quote:
Originally Posted by shaffe View Post
I agree for the most part except for the 48 months, most i would go is 60 months. And even then that depends on if you know you are keeping the vehicle.

To the OP point, thats 7 years of car payments. That to me is asinine to finance a car for that long. I personally would just try to unload the Z28 and use that money towards trying to pay down the current loan as fast as possible or save it for a bigger down payment if a SS is what you really desire.
Its funny I went 84 months on my 2013 SS because I don't like to have a high payment that I must be required to make each month. But the loans are open so what I do is slam them down with extra cash when I have it... Kind of best of both worlds. Paid the car off in 26 months instead of the 84 I signed with no penalties.... But I was never stressed about making a high payment I didn't wish to make at a given time.


OP tough call I'd say. I wouldn't be buying another Camaro until someone agreed to fix the problems with the one I have first though...
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