[Z06] Car payment question.....
Thread Starter
Drifting
Joined: Aug 2001
Posts: 1,813
Likes: 25
From: Forney TX
Car payment question.....
Hey guys....I'm gonna be lookin to get rid of my Z-28 prolly around mid '04. I was curious as to any guesses about what kind of monthly payments i'd be looking at. This is for an '02-'03(preferrably '03) Z06 in the high 30's with a $5-6000 down payment. I'm just tryin to get an idea. Thanks guys(and gals)... :D
:cheers:
:cheers:
Le Mans Master
Joined: Jun 2001
Posts: 7,331
Likes: 518
From: Admit Nothing, Deny Everything, Make Counter Accusations.
Re: Car payment question..... (LT1pwrd'94)
Depends on your interest rate, loan balance, and term. Just look at any loan calculator. For example:
http://www.bankrate.com/brm/popcalc2.asp
http://www.finaid.org/calculators/loanpayments.phtml
http://ray.met.fsu.edu/~bret/amortize.html
http://www.bankrate.com/brm/popcalc2.asp
http://www.finaid.org/calculators/loanpayments.phtml
http://ray.met.fsu.edu/~bret/amortize.html
Advanced
Joined: Sep 2003
Posts: 55
Likes: 0
From: Conover NC
Re: Car payment question..... (mfitz63)
I recently sold my 95 Z-28 and bought a Z06, and I must say I definitely recommend the upgrade. I paid $34k for my 01 with 7800 miles on it. Sold my Camaro for $5k and threw in another $4k in cash to put down. I ended up with a $483/month payment for 60 months.... it's more than my rent is, but still pretty manageable.
Le Mans Master
Joined: Sep 2003
Posts: 8,934
Likes: 657
From: Norwalk ohio
2019 Corvette of the Year Winner
St. Jude Donor '15
Re: Car payment question..... (NorthernZ06)
2003 Z06
$47,500 plus state tax.....
$32,000 trade in for 2001 Coupe (I paid $30k for it)
took $20,000 in cash back.....so $12,000 down....
leaves 60 payments (5 years) of $638 per month........ :nopity
$47,500 plus state tax.....
$32,000 trade in for 2001 Coupe (I paid $30k for it)
took $20,000 in cash back.....so $12,000 down....
leaves 60 payments (5 years) of $638 per month........ :nopity
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Pro
Joined: May 2002
Posts: 552
Likes: 0
From: Meadows Place Texas
Re: Car payment question..... (LT1pwrd'94)
Oddly, the payment for a $35,000 balance on a Z06 will be about the same as the payment on a $35,000 balance on any other Chevy... :crazy:
Actually, when you factor in the resale (residual) value of the investment at the end of the term, your higher monthly payments prove to be an illusion that masks the fact that your Z06 will probably end up with a lower total cost of ownership that is lower than most of the cars on the road.
Most of the new cars I looked at were between $33k and $37k, the new Z06 was $47k. The $12k difference on a 5 year note was just under $200/month on the payment. I elected to put a little more down, reducing the difference to about $150/month. Is it worth an extra $150 per month to drive a Z06 instead of a family truckster? ABSOLUTELY!
dave
Actually, when you factor in the resale (residual) value of the investment at the end of the term, your higher monthly payments prove to be an illusion that masks the fact that your Z06 will probably end up with a lower total cost of ownership that is lower than most of the cars on the road.
Most of the new cars I looked at were between $33k and $37k, the new Z06 was $47k. The $12k difference on a 5 year note was just under $200/month on the payment. I elected to put a little more down, reducing the difference to about $150/month. Is it worth an extra $150 per month to drive a Z06 instead of a family truckster? ABSOLUTELY!
dave
Pro
Joined: Jun 2001
Posts: 674
Likes: 2
From: Angleton Tx
Re: Car payment question..... (NorthernZ06)
I recently sold my 95 Z-28 and bought a Z06, and I must say I definitely recommend the upgrade. I paid $34k for my 01 with 7800 miles on it. Sold my Camaro for $5k and threw in another $4k in cash to put down. I ended up with a $483/month payment for 60 months.... it's more than my rent is, but still pretty manageable.
Albert
