What is it Worth? Use this forum to get feedback on vehicle prices - for selling or buying

whats it worth?

Thread Tools
 
Search this Thread
 
Old Nov 25, 2009 | 03:49 PM
  #1  
8urford2002's Avatar
Thread Starter
On The Tree
iTrader: (7)
 
Joined: Nov 2008
Posts: 142
Likes: 0
From: Virginia
Default whats it worth?

I have a 2002 camaro and im tired of making the payments. Im paying way too much because of my high interest rate. Love the car but I can barely afford it. Whats it worth.
2002 Camaro z 28
50,000 miles
Six Speed
Leather(Vinal) Seats, Pewter, T Tops, Black 17x9.5 Wheels, New Tires, No Stains, Extremely Clean, I know mods dont help the value of your car but here they are Pacssetter Lts, No Cats, Corsa Exhaust,3.73 gears, Air Lid, Strut Tower Brace, Lowered w/ Bilstein shocks, and Subframe Connectors.
Reply
Old Nov 25, 2009 | 04:08 PM
  #2  
NC01TA's Avatar
TECH Junkie
Photogenic
Photoriffic
Shutterbug
Liked
 
Joined: Aug 2006
Posts: 3,913
Likes: 676
From: Western North Carolina
Default

It depends what you owe but usually car interest payments are not horribly influenced by the interest rate, so make sure that is your problem before you make a mistake selling and then buying another car. You don't mention what you owe or what interest rate but let me just show you an example of how little the difference is. These are just general figures I punched in at bankrate.com for you. A 5 year $15,000 loan at 6% is $289 per month. The same loan at 12% is $333, a difference of only $44 per month, hardly a reason to sell your car. Now if you are paying even higher interest than that, a shorter loan, or owe even more, then of course the disparity will grow. I would hate to think that is the case on a 2002 Camaro. Please check for yourself unless you just want to sell your car anyway due to money issues but don't do it for the wrong reason. Hope this helps a bit and you can keep the car you love.

Last edited by NC01TA; Nov 25, 2009 at 05:29 PM.
Reply
Old Nov 25, 2009 | 05:47 PM
  #3  
8urford2002's Avatar
Thread Starter
On The Tree
iTrader: (7)
 
Joined: Nov 2008
Posts: 142
Likes: 0
From: Virginia
Default

that did help and i dont want to sell it but my car was financed for 16,000 5years at a 17% interest rate. Its really high. I want to refinance it but nobody will approve me. My credit isnt horrible its not really bad either but its not the best I just wish my payment was a little cheaper now it is 356 a month. That really a lot of money but i fell in love with the car and money didnt matter at the time.
Reply
Old Nov 26, 2009 | 08:42 AM
  #4  
NC01TA's Avatar
TECH Junkie
Photogenic
Photoriffic
Shutterbug
Liked
 
Joined: Aug 2006
Posts: 3,913
Likes: 676
From: Western North Carolina
Default

17% is just theft in my book. That is terrible that someone charged you that much. I see how you feel and it would spoil my ride too if I was being charged crazy interest. You said you checked around to try and get another loan which is what the proper move would be. That is just a shame you can not get one. I think I would sell too and start the whole process over again with a realistic interest rate. I can't imagine anything being in double digits (except rip-off credit cards) with home interest still in the 5%-6% area. Plenty of fine F-bodies out there. Just don't get 'upside down' on this loan though. I have no idea what you still owe but hopefully it is much lower than $16,000. You will never get that kind of money unfortunately.
Reply




All times are GMT -5. The time now is 05:26 AM.

story-0
Amazing '71 Camaro Restomod Is Modern Muscle Car Under the Skin

Slideshow: This heavily modified 1971 Camaro mixes classic muscle car styling with a fifth-generation Camaro interior and modern LS3 power.

By Verdad Gallardo | 2026-05-12 18:06:42


VIEW MORE
story-1
6 Common C5 Corvette Failures and What's Involved In Repairing Them

Slideshow: From wobbling harmonic balancers to failed EBCMs, these are the issues that define long-term C5 ownership and what repairs typically involve.

By Pouria Savadkouei | 2026-05-07 18:44:57


VIEW MORE
story-2
Retro Modern Bandit Pontiac Trans AM Comes With Burt Reynolds' Autograph

Slideshow: A modern Camaro transformed into a retro icon, this limited-run "Bandit" build blends nostalgia with brute force in a way few revivals manage.

By Verdad Gallardo | 2026-04-21 13:57:02


VIEW MORE
story-3
Top 10 Greatest Cadillac V Series Performance Models Ever, Ranked

Slideshow: Cadillac didn't just crash the high-performance luxury vehicle party, it showed up loud, supercharged, and occasionally a little unhinged...

By Pouria Savadkouei | 2026-04-16 10:05:15


VIEW MORE
story-4
Top 10 Most Powerful Chevy Trucks Ever Made!

Slideshow: Top ten most powerful Chevy trucks ever made

By | 2026-03-25 09:22:26


VIEW MORE
story-5
Hennessey's New Supercharged Silverado ZR2 Has 700 HP

Slideshow: Hennessey has turned the Silverado ZR2 into a 700-hp off-road monster with supercharged V8 power and a limited production run.

By Verdad Gallardo | 2026-03-24 18:57:52


VIEW MORE
story-6
Coachbuilt N2A Anteros Is an LS2-Powered C6 Corvette In Italian Clothes

Slideshow: A one-off sports car that looks like a vintage Italian exotic-but hides a C6 Corvette underneath-just sold for the price of a new mid-engine Corvette.

By Verdad Gallardo | 2026-03-23 18:53:41


VIEW MORE
story-7
Awesome K5 Blazer Restomod Comes With C7 Corvette Power

Slideshow: A heavily reworked 1972 K5 Blazer swaps its off-road roots for a low-slung street-focused build with modern V8 power.

By Verdad Gallardo | 2026-03-09 18:08:45


VIEW MORE
story-8
10 Camaros You Should Never Buy

Slideshow: There are thousands of used Camaros on the market but we think you should avoid these 10

By | 2026-02-17 17:09:30


VIEW MORE
story-9
10 LS Engine Myths That Refuse to Die

Slideshows: Which one of these myths do you believe?

By Verdad Gallardo | 2026-01-28 18:10:11


VIEW MORE