Buying A Car

6 Paragraph Report

How much is $27,400 to you? It may be a down payment and some extra for a home. Or it could be how much you have put into a college fund. But this amount of money is what is needed to buy a new 2010 Chevrolet Camaro. Maybe we could find a better deal? How much extra will the cost go up if you get more options for the car? These are just a couple of the questions you should ask when you begin to think about buying a car.

            Let’s look at the price of a new car from a local dealership. The price of a new 2010 Chevrolet Camaro is $27,400 dollars, without extras. That is a large sum of money. That same amount of money could be put towards a home, college fund, or some other investment. What would the price be with extras?

            The price of the 2010 Chevrolet Camaro with extras adds on an additional $9,325. That would bring our total cost up to $36,725.  And that’s just an estimation! So the options can really add to the overall price of a vehicle.

            What about the monthly payments? How much would it be for a 5 year contract? How much for a 3 year contract? Let’s take a look back at a factory price for the vehicle. For a new 2010 Chevrolet Camaro Coupe LT 1LT it would cost $23,880.00. The monthly payments for a 5 year contract would be $475.22 with 7.21% APR and no down payment. The monthly payments for a 3 year contract would be $739.64 with 7.21% APR and no down payment.

            An older 2002 Chevrolet Camaro is priced at $13,988. For a 5 year contract the monthly payments would be $271.40 with 6.15% APR and no down payment. For a 3 year contract the monthly payments would be $426.49 with 6.15% APR and no down payment. That is a noticeable difference!

            Buying a car is only easy if you have someone else that’s knowledgeable help you. And even then, trying to find the car that meets your needs and budget could be a hassle. Be sure to research other offers and the cars you’re thinking about buying, and always get advice from a knowledgeable family member or friend. That alone could save you hundreds or thousands of dollars.