Pontiac G8 2008-2010 - Z06 for G8 GXP

Well guys I stopped by the chevy dealership in Mission, Tx and they offered a good deal. It is a Black 2009 Z06, 8000 miles with the red and black seats fully decked out, if I trade in my GXP plus $3000 down I will keep the same monthly payment of $520. Does it sound like a good deal? Thanks in advance.

Javier

hell yea it does

If you don't need the room and the back seat, go for it...

good deal

well the obvious question is how long is the loan? but sounds like a good deal to me if you dont need the interior room?

well the obvious question is how long is the loan?

good catch.

There were only about 1860 GXP's built and they are pretty rare. Instead of trading and getting less value, why not shop it around on some of the G8 forums. I am sure there are some who may want to get that car and will give you more money.

I know if you trade, there is a tax benefit, however with a rare ride like yours, I would explore any and all options.

why do you still have the GXP lol id be all over that.

why do you still have the GXP lol id be all over that.

:lol:

For me that would be a tough call, if you would have asked me a few weeks ago I would have said DEAL. After doing research and finding out how rare the GXP's really are, I'm glad that I'm not in your shoes, I would not be able to sleep.

There were only about 1860 GXP's built and they are pretty rare. Instead of trading and getting less value, why not shop it around on some of the G8 forums. I am sure there are some who may want to get that car and will give you more money.

I know if you trade, there is a tax benefit, however with a rare ride like yours, I would explore any and all options.

Ehh thats a tough call. If the GXPs ever gain or retain there original value it will be a long ass time. Pontiac is no longer a brand, to a lot of buyers this means a lot.

When pontiac was being shut down dealers could not move the GXPs without massive deductions, (same with the GTO, a major reason i bought one) in fact a friend scooped up a brand new one for 28 grand before taxes. The dealers just needed them gone. I regret not being in the states when this was happening cause there were a few local ones that were M6 and under 30 grand brand new! including a white one which i would have bought instantly and worried about selling the GTO after.

Browsing some pontiac forums it seems people somehow think owning a newer rare car from an extinct company raises value. FOr a fun shock go try trading it in at any dealership and see how much they offer. When i used to work at infiniti a few people came by with GTOs to trade in but after hearing how much they would get for it every single one just left. Knowing how much a dealer paid for a car is a huge advantage.
Pontiac value rant over/

Now as to this matter, if you dont mind having only 2 seats...hell yea go for it.

well the obvious question is how long is the loan? but sounds like a good deal to me if you dont need the interior room?

Yup. Shopping for a vehicle using the monthly payment that you can afford as the sole basis for purchasing a vehicle is a pretty stupid thing to do. A dealership knows that they're dealing with someone that has ZERO finance/budgeting savvy if they go in there talking about what monthly payment they're looking to get. That $3,000 check that you're going to hand them is essentially going to cancel out a ~$40 increase (excluding interest) in your monthly payment over the course of a 72 month lease (which I'm assuming you're looking at doing...as your "payment" is not increasing, while the cost of your vehicle is going to go up dramatically).

Do something for me. Take out your current loan contract for the G8. Determine what the TOTAL amount you will pay on the life of the loan is (down payment + principle + interest). Do the same for the Z06. I'm sure you'll find that this is no deal.

:lol:

For me that would be a tough call, if you would have asked me a few weeks ago I would have said DEAL. After doing research and finding out how rare the GXP's really are, I'm glad that I'm not in your shoes, I would not be able to sleep.

Really? So your not trying to sell the GXP anymore?? :nod:

well guys i stopped by the chevy dealership in mission, tx and they offered a good deal. It is a black 2009 z06, 8000 miles with the red and black seats fully decked out, if i trade in my gxp plus $3000 down i will keep the same monthly payment of $520. Does it sound like a good deal? Thanks in advance.

Javier

no deal!

...Dealerships find ways to make you feel good..But in reality the loan is probably 2 to 3 years longer..I work at dealership..I aint saying what company cause I dont wanna get flamed...But we didnt need any goverment money..lol...hahahah..Id check the fine print and then go from there..

Yup. Shopping for a vehicle using the monthly payment that you can afford as the sole basis for purchasing a vehicle is a pretty stupid thing to do. A dealership knows that they're dealing with someone that has ZERO finance/budgeting savvy if they go in there talking about what monthly payment they're looking to get. That $3,000 check that you're going to hand them is essentially going to cancel out a ~$40 increase (excluding interest) in your monthly payment over the course of a 72 month lease (which I'm assuming you're looking at doing...as your "payment" is not increasing, while the cost of your vehicle is going to go up dramatically).

Do something for me. Take out your current loan contract for the G8. Determine what the TOTAL amount you will pay on the life of the loan is (down payment + principle + interest). Do the same for the Z06. I'm sure you'll find that this is no deal.

OP needs to listen to this guy. Sales people go after payment-oriented buyers like sharks after guppies. Aside from the financial angle, if you get someone pregnant during the life of the loan, you're gonna wish you had the 4 doors and big trunk. Then you'll have to sell the Z-oh at a big loss (you'll be upside down) and then you get fucked a SECOND TIME. OP, don't be an idiot...

If you must have a faster car, drop headers and a maggie on the GXP and scare the shit outta the stock Z06s.

Really? So your not trying to sell the GXP anymore?? :nod:

Yeah, my add ran out to sell my car, so I decided to keep it. I didn't try real hard to sell it anyway, lol, no for sale signs on it and just put on here and autotrader to sell. If the stars align with in the next year I should be able to put it in storage, hopefully.

Well guys thanks for all your input, after thinking things over I think that I am going to keep the car and just mod it and keep up with the faster crowd. Thanks again.

Javier

Well guys thanks for all your input, after thinking things over I think that I am going to keep the car and just mod it and keep up with the faster crowd. Thanks again.

Javier

Good call, brother. Glad you recognize the good advice you got here. You'll be glad you kept it, trust me. Get it paid for ASAP, you'll have more options and be in a better financial position. My little f-body has a cammed LS3 but I would trade it for a 4 door LS powered car in a heartbeat. You have an awesome car and are making the right decision. Slap headers and Maggie on that thing and you'll be within a door of a stock Z06 with no real downside.

Well guys thanks for all your input, after thinking things over I think that I am going to keep the car and just mod it and keep up with the faster crowd. Thanks again.

Javier

Good call. :cheers: While you might be a little disappointed now, you won't regret your decision in the long run.

K now I have a quick ? Does a 285 or 295 size tire fit on a stock gxp rim?

520/month with 3k down for a '09 Z06? Sounds like it was for 96 months not 72. Even if it was for 0 interest.


520 X 72 = 38k no interest (3k down goes towards taxes and the other crap. Are '09 Z06s that cheap?

Yes sir and my G8 GXP as a trade in.

Javier

72 months is a long ass loan that is for sure.

Yes sir and my G8 GXP as a trade in.

Javier

Never knew new cars appreciated.

Id keep the GXP. You can buy a ZO6 anytime. If you got rid of the GXP and decided you wanted another one, what would you do?

And just FYI-Payment oriented loans are not ALWAYS geared to rip you off, if you KNOW that you want a car, but KNOW that you wont pay it off before trading it in, lets say 3 years thats the median, than taking out a longer loan with a down payment may be a good idea, it saves you money each month towards something you dont intend to own anyway, same as a lease. Only thing to watch, down dip into negative equity by the time you want to get rid of it.

Its always great to take adavantage of zero interest.
Car cost say 20,000.
Instead of writing a check for 20,000 you could leave 20,000- down payment in the bank and make your own interest. Of course it will be less after each payment, but you can't beat free money.

And just FYI-Payment oriented loans are not ALWAYS geared to rip you off, if you KNOW that you want a car, but KNOW that you wont pay it off before trading it in, lets say 3 years thats the median, than taking out a longer loan with a down payment may be a good idea, it saves you money each month towards something you dont intend to own anyway, same as a lease. Only thing to watch, down dip into negative equity by the time you want to get rid of it.

Longer term loans tend to have higher interest ratesi than shorter term loans. By taking out a 72+ month loan, you're going to be paying more money each month in interest. Besides...If you can't afford to finance a car on a 60 month loan... you likely can't afford the car. Long-term loans are designed for one purpose...to get people that are living beyond their means into an expensive vehicle they might not otherwise be able to get into.

Unless someone can put down one hell of a down payment on a car like that (i.e. $20k+), they're going to be upside down for a long time. The object for someone purchasing a car should be to pay down the vehicle as quickly as possible (even if you aren't going to hang onto it for the whole term). Getting a shorter loan term and paying more gives you greater flexibility when the time comes to get rid of your vehicle.

Getting a shorter loan term and paying more gives you greater flexibility when the time comes to get rid of your vehicle.

Exactly!

If you want a Z I would sell your GXP to a private party. I know you could get more then you would on a trade in! Then find you a nice used low mileage Z for a good price and come out with cheaper payments and maybe shorter loan! :chug:

Thanks guys I appreciate the advise. Like I stated before I am not going to get rid of the GXP, instead I will just buy my wife the new camaro ss and just mod and suprise a few of the fast cars and trucks here in the valley with the GXP.

Javier

sounds solid javier. enjoy the car!

Thank you sir now to decide what to do first on the car. My wife told me "why dont you just put those whistling things to make it go faster" LOL if she only knew how much a turbo cost. LOL

Javier

Thank you sir now to decide what to do first on the car. My wife told me "why dont you just put those whistling things to make it go faster" LOL if she only knew how much a turbo cost. LOL

Javier

:secret2::secret2: Just go with it man :secret2::secret2: