I Don't Know What to do With this Car!?! - ModernCamaro.com - 5th Generation Camaro Enthusiasts
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post #1 of 50 Old 12-15-2010, 08:24 AM Thread Starter
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Unhappy I Don't Know What to do With this Car!?!

Since i could remember, i've always wanted a Corvette... when the new Camaro came out i felt like i HAD to have it cuz it was new, cool, and the closest thing to a corvette i can get for my age and income. the first 6 months, it was great! the car was a major head turner and i was the only Camaro on the road. as they build more and more, i started to see them on the streets more and more. to date, i can say i see at least 5 or 6 new camaros on the roads everyday! that is A LOT! the car is no longer "exclusive", it doesn't really get that head turning reaction anymore unless i stomp on the gas, and it only gets driven 50 miles a week.

My wife and I have been discussing it for a few weeks now, she wants a new 2011 SRX, but we cannot afford 3 new car payments. the other day, i said to her, "what if we sold your car and the Camaro for the new SRX?" she looked at me like i was crazy saying, "if we did that you would resent me for the rest of our lives because you love that car." yes, i do love the car BUT it is... JUST a car.

IF, and that is a REALLY BIG IF, i went through with selling the Camaro, i will not accept less than $35k for it, might start out asking $37k. its fully loaded 2SS/RS with $5k in mods. i sat down last night and crunched all the numbers... if i sold it right now for $35k, trade in my wife's car and got the SRX she wants, we would actually be saving $600 per month in car payments, insurance, and fuel. i can either apply that money to pay off student loans and car payments faster and actually save enough in finance charges to where i would not be losing any of the money i put into the car, including monthly payments. it would be like i never spent money on a sports car once i pay off my debts.

or we could save that extra cash and save up for a down payment on a house once i'm in a permanent location with my job in a year and a half. i figured with that extra savings, plus saving part of my bonuses, we could have about $25k for a down payment by summer 2012.

well, that's my rant, i've really had a "come to Jesus" moment with owning her. i love the car, but a few years from now when i'm debt free and have a house, i should be able to pay cash for that Corvette i've always wanted!

i'm not really looking for a poll on if i should sell the car or not, that would be too typical for a forum. and please don't bash me, bash Dave Ramsey for this predicament!

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post #2 of 50 Old 12-15-2010, 09:14 AM
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I had my come to Jesus moment when I drove the wifes 09 cts. Im telling you it hands down handles better stock than my camaro dropped 1" with new swaybars.

Im really really considering getting a v. Plus the car is 1,000,000 times nicer inside.

Food for thought.

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post #3 of 50 Old 12-15-2010, 10:03 AM
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Realistically I would set your sights on selling your car for about $32K if you want to sell it within two to three months. If you couldn't part with it for $30K then I would just keep it.

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post #4 of 50 Old 12-15-2010, 10:24 AM
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wow you bought it because it was new and to turn heads lol

if you would feel more comfortable paying off student loans and getting a vette down the road I would understand as it was something you wanted as a childhood kid plus you would get rid of debt.


You should want the car because you enjoy it not because its a head turner.


imo if you want a head turner get a loan from the bank and buy a 1st gen.
You should know any car you buy in TEXAS wont be rare for long when everyone has both a Truck and a Sports car.


I know for some time you have been wanting something faster.

GET WHAT MAKES YOU HAPPY.


Remember modded cars are only something a special crowd wants.


Quote:
Originally Posted by tradosaurus View Post
Realistically I would set your sights on selling your car for about $32K if you want to sell it within two to three months. If you couldn't part with it for $30K then I would just keep it.

Last edited by Jekyll-N-Hyde; 12-15-2010 at 10:26 AM.
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post #5 of 50 Old 12-15-2010, 10:38 AM
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Most people don't want to sell when they are upside down (owe more than the vehicle would sell for). Lets say you're upside down $4k if you sold it today you would realize the loss of the $4k immediately but if you keep making payments you will still realize the $4k loss only spreading it out over months of payments. If it would save you $600 a month why not start saving that as soon as possible?
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post #6 of 50 Old 12-15-2010, 10:51 AM
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In all my car buying/selling experience, $5K worth of mods, including labor time/costs means virtually NOTHING to many SMART buyers. There's a handful that might factor that in if you find the right buyer. But normally, no. You have a car that many people could buy new for at or very near the price you're thinking of asking. Every time I hear "but I've spent $XXX in mods"....that goes in one ear and out the other.

Not saying you won't get what you're asking, and I hope you do should you sell, but I'd say you're closer to 33K vs. 35K. Just my opinion, so it doesn't mean squat.

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post #7 of 50 Old 12-15-2010, 11:01 AM
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do what you gotta do but i wouldnt sell the car for a new srx. their nice, but not escalade money nice. dont you have a silverado now? why would you need an suv and a truck? do you get alot of snow? i wouldnt concider selling my camaro for a srx. no way. would i sell if for a used zr1? new z06? used 911 turbo.....HELL YES! but a SRX......no..... dont do it.

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post #8 of 50 Old 12-15-2010, 12:41 PM Thread Starter
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i kinda wrote that wrong. i meant to say when i got it, it was a major head turner. i originally bought it because it looks awesome, has great performance, and completely different than other sports cars.

Quote:
Originally Posted by Jekyll-N-Hyde View Post
wow you bought it because it was new and to turn heads lol

if you would feel more comfortable paying off student loans and getting a vette down the road I would understand as it was something you wanted as a childhood kid plus you would get rid of debt.


You should want the car because you enjoy it not because its a head turner.


imo if you want a head turner get a loan from the bank and buy a 1st gen.
You should know any car you buy in TEXAS wont be rare for long when everyone has both a Truck and a Sports car.


I know for some time you have been wanting something faster.

GET WHAT MAKES YOU HAPPY.


Remember modded cars are only something a special crowd wants.

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post #9 of 50 Old 12-15-2010, 12:42 PM Thread Starter
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Quote:
Originally Posted by Chuckduck View Post
Most people don't want to sell when they are upside down (owe more than the vehicle would sell for). Lets say you're upside down $4k if you sold it today you would realize the loss of the $4k immediately but if you keep making payments you will still realize the $4k loss only spreading it out over months of payments. If it would save you $600 a month why not start saving that as soon as possible?
i owe $29k, trade in value on it is $33k, private party value is $35k. i didn't consider the mods i put into into what i want for the car.

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post #10 of 50 Old 12-15-2010, 12:45 PM Thread Starter
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Quote:
Originally Posted by 2010_5thgen View Post
do what you gotta do but i wouldnt sell the car for a new srx. their nice, but not escalade money nice. dont you have a silverado now? why would you need an suv and a truck? do you get alot of snow? i wouldnt concider selling my camaro for a srx. no way. would i sell if for a used zr1? new z06? used 911 turbo.....HELL YES! but a SRX......no..... dont do it.

my silverado is my daily driver. my wife currently drives a 06 SRX, but wants the new one. the car isn't for me, it's for her. we currently are financing all of them, but if she got a new SRX, we couldn't afford all 3 car payments. plus, im only 23 years old. i bought the car when i was unmarried and living on my own. marriage changes everything! so if i sell the camaro and her SRX, we would only have 2 car payments and end up saving about $600 a month for our first home.

we looked at tahoe's and escalade's, and even acadia's and enclave's but she kept going back to the SRX. the new ones are very nice! all leather dash, heated/cooled seats, navigation, and its not so big that she feels uncomfortable driving it. that was her issue with the escalade and tahoe, they were too big for her.

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Last edited by RedJewel2SS; 12-15-2010 at 12:48 PM.
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