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Old 01-27-2005, 08:17 PM   #1 (permalink)
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2005 corvette

Well i like this new corvette model and i want to buy it but i got a question for owners that have a 05 corvette, well the question is how much down payment did u give and how much are u paying a month and also insurance? I was planning on giving 3 or 4 grand down payment and give as little payments as i can

I Really love the 2006 z06 i might be getting that if i can afford it
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Old 01-28-2005, 12:42 PM   #2 (permalink)
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Quote:
Originally Posted by Vick07
Well i like this new corvette model and i want to buy it but i got a question for owners that have a 05 corvette, well the question is how much down payment did u give and how much are u paying a month and also insurance? I was planning on giving 3 or 4 grand down payment and give as little payments as i can

I Really love the 2006 z06 i might be getting that if i can afford it
The amount you put down is going to have a direct impact on your monthly payment. The more you put down, the lower your monthly payment will be. If you only put down $3-4k, expect a pretty steep monthly payment. GM has a payment calculator on their web site so you can play with some numbers. Try experimenting with different amounts to see what's comfortable for your budget. Best of luck to ya!
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Old 01-28-2005, 01:02 PM   #3 (permalink)
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Most sources of automotive credit are now tier-based systems primarily dependant upon your bureau scores (TRW, EXPERIAN, EQUIFAX, etc.). Typically, current new car finance rates hover around the 5% range. Don't assume that you are going to get 0, 0.9, or 1.9 on a hot new product like the C6. When you see rates like that it is to move aging inventory! So your score-based tier can have a dramatic impact on the interest rate you will get. Of course, if you can stroke a check, then good for you. Or tap some equity line you might have on your home, etc.

At the 5% range you can use a rough guide of $20.00 payment reduction for every $1000 you put down.

Your score will depend on payment history, previous high-credit (house, car - NOT dept. store cards!) and any outstanding derogatory issues such as BK's, charge-offs, and lates. Obviously your I/D ratios also come into play.

Sorry to bore you but it is rare that any two people will make identical payments even if the cars and selling prices are.

Cheers

Jim
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Old 01-31-2005, 12:26 PM   #4 (permalink)
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To get the best rates you will usually need a score of 700 or above. Anything above a 620 and you can lease.

Chris
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Old 02-01-2005, 08:56 AM   #5 (permalink)
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Welcome aboard! Looks like the C6Z06 will be priced out of the reach of most of us.
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Old 02-02-2005, 09:42 AM   #6 (permalink)
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Just wait a year and you will be able to buy used c6zo6 for low50s! Thats what i plan to do if price goes over 65k!
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