I think his point was that a bad economy doesn't force people out of Camaros and into econoboxes. A Camaro is still economical enough and affordable enough (for a new car) to be appealing even in times such as these.

 

The 1st vehicles hit in an economic downturn are family vehicles. I'd fully expect sedans, SUVs, and most crossovers to hit the skids.

You are correct in that Camaro isn't a practical car for families, and that is the entire issue. Families don't buy Camaros. Those that do, it tends to be a secondary car. Most will be sold to singles or those who have a significant other and no kids. These tend to be people who have greater flexibility to buy something for themselves. Any sports car that ends up in families tend to be personal rewards bought by those who simply wanted or have always wanted one.

Corvette sales went through the roof in the late 70s. When auto sales dropped like a ton of briks last year, Viper, Corvette, and Mustang sales climbed.

If you are supporting other people in your household (ie: kids & parents), you'll not only be the 1st to put off buying a new car in bad economic times, you aren't likely to be in the market for a Camaro or any sports car. If you are not supporting other people in your household (single, working spouse or significant other) and you are reasonably secure in your job and you can get credit and can afford it if you want a Camaro (or Mustang, or Challenger, or Corvette, or ...) you're going to get it.

Historical records back that up.


And if we hit a depression, all this won't matter anyway. GM would collapse.

 

That is the problem how many people have steady jobs? How many people have good credit nowadays in these harsh economic times? I wasn't around in the 70's but I can see this is not looking to good. Stock dropped another 500 points and GM looking to refinance or find a seller of the Renaissance center. It is not a question of if we have a depression but a question of when.

 

Problem is GM will have many Camaros on their car lots Early March
and few will be able to afford them.
Myself and others that have cash will buy them at Invoice price with out a problem on the first day they get on dealers lots...
Nobody will loan anyone money with Iffy credit are iffy economy.
You have many that say that the banks cannot run without giving loans...
Nobody right now can get a house without 20% down and thats the was it should be.
As for buying a 2010 Caramo SS I would think you will need at least $10,000 down and a high interest rate of 10%18% and SPOTLESS credit.....
The banks Don't trust any of the other banks to loan money between them.(reason they are afraid that they might go out of business and not get their money back}
Look at Europe and Asia not loaning banks money...
If you think this problem is going away in 2009 you are nuts.
I love the stock markets getting killed and I am sure many others on here also love it..
Now we can cherry pick the stocks and make a killing.....
Fords Stock went down to $2.90 a share(Junk}
GM also had a all time low of $7.50 today (Junk}
problem will Ford or GM be around in 2009,,,,,the bailout they will not get for awhile.
But if your stock goes under $1.00,I would think you are going out of business

 

I was tending to agree with you right up until then (and continued to agree after that). The credit sky is not falling provided you had/have a good credit score. While I will agree that the basis for the "top low-interest" loan may have been a score of 680 and now is more like 720 it doesn't mean that interest rates have suddenly jumped from 4.9% to 17.9% (0% is generally available only to move "old" models off lots). I will guarantee you that with my FICO score of around 735 I will put roughly 5k down and be able to finance the balance for no more than 5.9%. Should the interest rate be more, I'll put another 5k down to compensate. There is a point where I'll just pull money from other sources, making less than the finance interest rate, to offset what is going on. Again, I don't see that happening; I'll admit partly in my case because I just got done with 4 years of payments with GMAC on my GTO and I don't think they'll have much of an issue extending me more credit.

GM at $7.50 a share is quite tempting though, isn't it?

 

If that is the case, it is all over for GM. The number of people who have 10K to put down on a car at purchase time will not keep the doors open. The vast majority of car sales are people that put little to no money down.

Right now my Federal Credit Union is offering me 4.75% for new and used auto loans. Where did you come up with 10-18%? Is that was GM is offering right now?

 

not mine! im still all in and now way is this economy goign to stop me from getting what i have waited 3 years in the making for.

 

GM at $7.50 a share is quite tempting though, isn't it?

I see that GM is down at $6.42 today.........
Before weeksend GM will be down to $5.00 a share.
I would stay away from GM,goldman sachs says that GM might not
be in business by mid year of 2009.
And GM says that they will not make a profit till 2010
To me I agree with the other member
I would wait till you see the cars on the dealers lots and I am also sure
you will get the car at Cost or a little above it.
I am sure there will also be rebates the first week.
Its funny people think that they will get low interest loans on the Cars
in 2009.
People losing Jobs,Unemployment is up,cost is Up and many are still losing their homes.
Sure some will get camaros,but only if you put alot down or pay in cash as the other member said.
But from reading all the post people are writing,I think most will be very disapointed when they get rejected when its time to buy the car.

 

Creating additional accounts to agree with yourself is borderline trolling.

Let's stick to one account per person here. Thanks.

 

I need a car. I will always need a car. Gas prices are always going up.

As long as the Camaro still provides great fuel economy with a V8, relative to it's competition, I will always have one in my driveway.

 

thats pretty funny. he was agreeing with himself.


i would love to buy some stock in gm. and i dont see them going out of business next year.

gm will be just fine. they got some pretty bright people out there and they will do just what they need to do to keep it going.everyone is freaking out about companies goign out of business and there is no reason for it.


no matter how much you worry your not going to help anything. the best thing to do is just remain calm and relax. no need to stress out and have a heartattack over something you cant control.

 

gas fell to 2.89 in canton,ohio where i live. i was shocked. my buddy has a discount card from a local grocery store, and he had .80 cents off a gallon. he filled up his suburaban with 30 gallons for a little over 60.00.

 

Yea Yea Yea the freaking website would not have let me on before.....
Geeeee so i Had to wait 20 mins and then another 20 mins.
Much more easy to open another acoount lol.......

As I said before GM was a low at $6.42 today,,,Going back a few months ago GM was at $22 then it droped to $18 and I thought that was a bargin.
But then $10 would make you wonder
and at the $7 range would make me worry about the company.
I hope GM will be around for many years to come butttt the next year will
show us where they are heading for.
I am sure Dodge will be gone next year and why not.Dodge makes crummy cars and as for Ford,hummmm just make me wonder if investing in any of these companys will make anyone rich

 

fords down to 3.50 or 4.50 a share. i just called my buddy who is pretty good with stocks and hes gonna buy into ford and i think im goign to buy into gm. yeah they may go down a bit but i know they will only go up from there. they will NEVER go out of business.

 

Yep Ford and GM would be good buys....
But I would wait atad longer.
I am going to buy a few thousand shares of Ford when it gets abit lower.
Today the low was $2.10 a share and I am sure it will be at $1.50 next week.
As for GM I would also buy shares but why buy it at $6.40 a share when you can buy it for $5.00 very soon,maybe next week?
Right now I would be afraid to buy any auto stocks,,,its best to wait a week or 2 and it will be like getting another 1000 shares free..........
You will see bailouts for airlines soon.