2016 Chevrolet Camaro (New)

By: Konrad Kuc

Big image

Choosing My Car

My Car

I chose the 2016 Chevrolet Camaro because i'm interested in the way the car looks as well as the fact it is a sports car. I always liked sports cars, but I was never interested in cars so it explains why I look for looks only and I accept that which is why I chose this car.

Trim Level

For the trim level I chose the 2SS trim level which features memory driver seat, side blind zone and cross traffic alert, rear parking assist, and more. I chose this trim level because it gives me assistance during driving and it gives features to feel comfortable in the car. The assistance is because I am new to driving, so this can help decrease my chances of getting in a accident. I know there is other vehicles with better safety features, but this gives me both safety and style.

Car Specifics

MPG

City - 19 mpg

Highway - 28 mpg

Engine and Description

The engine is V8, 6.2 Liter size and is a sports car with epa class of compact car, coupe body style, and manual 6-spd transmission.

Safety

- Standard airbags (Driver, Passenger, Driver Knee, Front Head Curtain, Front Knee, Front Side, Rear Head Curtain)

-No child door locks

- No engine immobilizer

-Standard traction control

- Communication system OnStar Guidance Plan w/Automatic Crash Response

-Stolen Vehicle Assistance

-Roadside Assistance

-Turn-by-Turn Navigation & Advanced Diagnostics w/6-mos of Service

Warranty

- Basic (3 years or 36000 miles)

- Powertrain (5 years or 100000 miles)

- Corrosion/Rust thru (6 years and 100000)

- Roadside assistance program (5 years or 100000)

Consumer Rating

The rating is 9 out of 10

Good

-Fast and fun to drive

-Great Platform

-Car looks good

Bad

- 4 people max (comfortable only for 2)

- Outward vision

- Claustrophobic cabin

Expert Rating

The 2016 camaro didn’t have any expert rating yet only what was good and what wasn't good since it is a brand new car. To get an okay picture I checked the 2015 expert rating it was 7.6/10. An expert wrote for 2016 that the braking and handling were great while complaints of hard plastics, narrow windows, and feels claustrophobic.

Car Ranking Thoughts

In horsepower this car is ranked second out of six, 5-year cost second out of four, and finally the rank for consumer rating is fifth out of six. I think this car gets a 8/10 rating in its category because it does good in somethings and not so well in others.

Economics

MSRP/Blue Book Value

($42,790) A manufacturer's suggested retail price (MSRP) is the amount of money for which the company that produces a product recommends that it be sold in stores.

Fair Purchase Price/Blue Book Value

($41,305) Fair Purchase Price reflects the price consumers typically are paying for this vehicle. The Fair Purchase Price is regionalized based on actual new-vehicle transactions collected from across the country and adjusted regularly as market conditions change.

Dealer Invoice/Blue Book Value

$41, 093 the invoice price is the automobile manufacturer's original charge to the dealer or in other words the cost manufacturer sends to the dealer when the dealer receives a car from the factory

Other Website Prices

Truecar

-MSRP - $38,300

-Fair Purchase price - $34,728

-Invoice - $37,554

Intellichoice

-MSRP - $41,300

-Fair Purchase price - $41,300

-Invoice - $39, 648

Price Thoughts

The prices of the fair purchase prices were different because two reasons. First is where they are sold and second how frequently updated the information is.

Car Comparison

Similar Vehicles

The 2 cars I chose that was similar was the 2016 Ford Mustang and 2016 Dodge Challenger

Similar Car Prices

Mustang

-MSRP - $33,200

-Fair Purchase Price - $30,743

-Invoice - $30,697


Challenger

-MSRP - $36,990

-Fair Purchase Price - $35,362

-Invoice - $35,921

Preference

I choose my original car because I like the frame of the car with how the car looks and also the Camaro has more features that fits my likes mostly the safety ones.

Original Car Pros

The design of the vehicle is to my likes as well as the features like I said before. As well as the horse power.

Other Car Pros

The costs are cheaper which would help him afford it and how comfortable the car is better than the Camaro.


Price Negotiation

I could explain how there are other vehicles with similar style and they are cheaper. Say something like "Even if I do prefer the Camaro I don’t think I can afford it, so I rather get something I like and also afford." Try to get them to make it cheaper. Using the prices of other vehicles and as well as trying different dealers. Seeing who's cheaper and convince dealers to try to get you to buy theirs by decreasing price.

Financing

Down Payment and Preferable Price

I think I would like to get the price of the car of $39,000, but the max I could go is 40,000$ with the fair purchase price of $41,305. I would probably pay around $4,000 on the spot.

Loan and Monthly Payment

$41,305 - 4000 = $37,305 - Together

$37,305/60 = 621.75 - Monthly

Conclusion

I don’t believe I would afford this car if I had $4000 down payment. If I saved longer maybe around $10000 down payment which is around $500 monthly still. With this I might be able to afford it, but mostly not. Also it would depend on my job I had. But overall I don’t think I can afford it with all other expenses.