View Poll Results: Income vs Purchase
Household makes less than 50k a year cant purhcase a new Camaro.
12
7.69%
Household makes less than 50k a year CAN Purchase new Camaro.
18
11.54%
Household makes less than 75k a year Cant Purchase a new Camaro
16
10.26%
Household makes less than 75k a year CAN Purchase a new Camaro
31
19.87%
Household makes less than 100k a year Cant Purchase a new Camaro
16
10.26%
Household makes less than 100k a year CAN Purchase a new Camaro
17
10.90%
Household makes less than 125k a year Cant Purchase a new Camaro
3
1.92%
Household makes less than 125k a year CAN Purchase a new Camaro
14
8.97%
Household makes less than 150k a year Cant Purchase a new Camaro
2
1.28%
Household makes less than 150k a year CAN Purchase a new Camaro
27
17.31%
Voters: 156. You may not vote on this poll
2010 Camaro Price vs Household Income Poll
10-23-2008 | 09:27 PM
#46
Registered User
Joined: Mar 2001
Posts: 13,711
From: The Golden State
Since I have stated in the other thread that I think the 2010 car I want is out of my reach, I thought it'd be neat to see on this forum, how many folks are in which income brackets, versus getting the new camaro. If that makes sense. Alot of guys in the other thread, are arguing that with inflation the car is not much higher priced than an 02 was in 02.. and alot of them are like me, who will have to settle for used or not at all, or hit the lotto to get one new.. so.. participate if you wish.. as im curious to see exactly how many folks make enough $ to buy new.
Edit :
feel free to add comments as to why or why not.
Edit :
feel free to add comments as to why or why not.
A military E5 who is single takes home about 25-30K per year can easily buy a Camaro... even a Z28, but a person who is making $75K per year who is paying the college tuition of 2 kids and a morgage can not.
A married couple together making about 60 grand and living in an apartment might easily afford a Camaro, but they are saving for a house, so they can't.
Age, priorities, and the simple fact as to what fits your needs drives a car purchase just as much if not more than an actual price tag.
On another similar subject, I am simply dumbfounded that so many people here are shocked at the price. Are you guy's kidding me???
I recall a thread back around the time the current Mustang and 300 came out when it was all but carved in concrete that any future V8 powered cars were going to be knocking on the 30 grand door if not more. Fuel economy and/or the lower demands for V8 engines mean that either the production cost of the V8 would be spread among fewer people (higher prices) or that there would be a surcharge on the V8 to encourage sales of more fuel friendly versions (again, higher prices). Either way, days of V8s as cheap performance was over years ago (even a Mustang GT is at least $5,000 over a similar V6 model).
I also recall many times here where others as well as myself pointed out that such things that were being demanded such as IRS and a chassis to take as much horsepower as everyone was wanting would certainly send prices skyward. I myself also made the point that looking at the sales numbers, all those guys who bought Camaro SSs with list prices at or above the $30K mark while entry level $21K Z28s sat on the lots as orphans were all but eliminating cheap performance in the future.
Now, here we have a coupe with IRS, a body that can take massive power, and there seems to be a collective shouck just because a 425 horsepower Camaro costs $30,000. Give me a break! It wasn't too long ago that 400 horsepower cars cost $32-35,000 (ie: Cobra & LS2 GTOs).
For those whining that a V6 Camaro costs $22K, you guys need to take a sedative. We're talking about a direct injected, 300 horsepower, sub-6-second-to-60-mph, 155 mph, IRS equpted, large all wheel disc brakes, multiple airbaged, very well equpted car.
If you still feel the need to whine and cry about paying $22-25K for a 300 horse V6 Camaro like that, go to Infinity and look at the G37 coupe and it's $34,000 price tag. The 268 horses you get at that price makes even 30 grand for the SS look like a steal. Even if the 400 horse V8 Mustang comes in at the same price as the current one, it still doesn't have IRS and as solid construction as Camaro.
As I've always said on this subject, everything has a price... there's no free rides. We have a $32-40,000 Camaro at a $22-30,000 pricetag. By every indication, it's a great car.
If you can't afford it, you should either 1) Save up till you can buy a new one, even it takes a few years, 2) wait a year or 2 till you can get one used, 3) Buy a Mustang, or 4) really take time to question whether you should even be buying a new car at all since the average price for a new vehicle is still just over $30,000.
In short, if it's too much for you, then you don't need it and shouldn't have it.
In case you haven't noticed, there's an economic meltdown in progress because people haven't been realistic about what they can afford, and feel like they should have everything simply because (and only because) they want it.
10-23-2008 | 09:47 PM
#47
Registered User
Joined: Mar 2008
Posts: 362
There are quite a few ways this poll makes no sense because income isn't the driving factor in purchasing a car and it talkes only a single snapshot and uses it as the criteria to prove a point that simply can not be proven.
A military E5 who is single takes home about 25-30K per year can easily buy a Camaro... even a Z28, but a person who is making $75K per year who is paying the college tuition of 2 kids and a morgage can not.
A married couple together making about 60 grand and living in an apartment might easily afford a Camaro, but they are saving for a house, so they can't.
Age, priorities, and the simple fact as to what fits your needs drives a car purchase just as much if not more than an actual price tag.
On another similar subject, I am simply dumbfounded that so many people here are shocked at the price. Are you guy's kidding me???
I recall a thread back around the time the current Mustang and 300 came out when it was all but carved in concrete that any future V8 powered cars were going to be knocking on the 30 grand door if not more. Fuel economy and/or the lower demands for V8 engines mean that either the production cost of the V8 would be spread among fewer people (higher prices) or that there would be a surcharge on the V8 to encourage sales of more fuel friendly versions (again, higher prices). Either way, days of V8s as cheap performance was over years ago (even a Mustang GT is at least $5,000 over a similar V6 model).
I also recall many times here where others as well as myself pointed out that such things that were being demanded such as IRS and a chassis to take as much horsepower as everyone was wanting would certainly send prices skyward. I myself also made the point that looking at the sales numbers, all those guys who bought Camaro SSs with list prices at or above the $30K mark while entry level $21K Z28s sat on the lots as orphans were all but eliminating cheap performance in the future.
Now, here we have a coupe with IRS, a body that can take massive power, and there seems to be a collective shouck just because a 425 horsepower Camaro costs $30,000. Give me a break! It wasn't too long ago that 400 horsepower cars cost $32-35,000 (ie: Cobra & LS2 GTOs).
For those whining that a V6 Camaro costs $22K, you guys need to take a sedative. We're talking about a direct injected, 300 horsepower, sub-6-second-to-60-mph, 155 mph, IRS equpted, large all wheel disc brakes, multiple airbaged, very well equpted car.
If you still feel the need to whine and cry about paying $22-25K for a 300 horse V6 Camaro like that, go to Infinity and look at the G37 coupe and it's $34,000 price tag. The 268 horses you get at that price makes even 30 grand for the SS look like a steal. Even if the 400 horse V8 Mustang comes in at the same price as the current one, it still doesn't have IRS and as solid construction as Camaro.
As I've always said on this subject, everything has a price... there's no free rides. We have a $32-40,000 Camaro at a $22-30,000 pricetag. By every indication, it's a great car.
If you can't afford it, you should either 1) Save up till you can buy a new one, even it takes a few years, 2) wait a year or 2 till you can get one used, 3) Buy a Mustang, or 4) really take time to question whether you should even be buying a new car at all since the average price for a new vehicle is still just over $30,000.
In short, if it's too much for you, then you don't need it and shouldn't have it.
In case you haven't noticed, there's an economic meltdown in progress because people haven't been realistic about what they can afford, and feel like they should have everything simply because (and only because) they want it.
A military E5 who is single takes home about 25-30K per year can easily buy a Camaro... even a Z28, but a person who is making $75K per year who is paying the college tuition of 2 kids and a morgage can not.
A married couple together making about 60 grand and living in an apartment might easily afford a Camaro, but they are saving for a house, so they can't.
Age, priorities, and the simple fact as to what fits your needs drives a car purchase just as much if not more than an actual price tag.
On another similar subject, I am simply dumbfounded that so many people here are shocked at the price. Are you guy's kidding me???
I recall a thread back around the time the current Mustang and 300 came out when it was all but carved in concrete that any future V8 powered cars were going to be knocking on the 30 grand door if not more. Fuel economy and/or the lower demands for V8 engines mean that either the production cost of the V8 would be spread among fewer people (higher prices) or that there would be a surcharge on the V8 to encourage sales of more fuel friendly versions (again, higher prices). Either way, days of V8s as cheap performance was over years ago (even a Mustang GT is at least $5,000 over a similar V6 model).
I also recall many times here where others as well as myself pointed out that such things that were being demanded such as IRS and a chassis to take as much horsepower as everyone was wanting would certainly send prices skyward. I myself also made the point that looking at the sales numbers, all those guys who bought Camaro SSs with list prices at or above the $30K mark while entry level $21K Z28s sat on the lots as orphans were all but eliminating cheap performance in the future.
Now, here we have a coupe with IRS, a body that can take massive power, and there seems to be a collective shouck just because a 425 horsepower Camaro costs $30,000. Give me a break! It wasn't too long ago that 400 horsepower cars cost $32-35,000 (ie: Cobra & LS2 GTOs).
For those whining that a V6 Camaro costs $22K, you guys need to take a sedative. We're talking about a direct injected, 300 horsepower, sub-6-second-to-60-mph, 155 mph, IRS equpted, large all wheel disc brakes, multiple airbaged, very well equpted car.
If you still feel the need to whine and cry about paying $22-25K for a 300 horse V6 Camaro like that, go to Infinity and look at the G37 coupe and it's $34,000 price tag. The 268 horses you get at that price makes even 30 grand for the SS look like a steal. Even if the 400 horse V8 Mustang comes in at the same price as the current one, it still doesn't have IRS and as solid construction as Camaro.
As I've always said on this subject, everything has a price... there's no free rides. We have a $32-40,000 Camaro at a $22-30,000 pricetag. By every indication, it's a great car.
If you can't afford it, you should either 1) Save up till you can buy a new one, even it takes a few years, 2) wait a year or 2 till you can get one used, 3) Buy a Mustang, or 4) really take time to question whether you should even be buying a new car at all since the average price for a new vehicle is still just over $30,000.
In short, if it's too much for you, then you don't need it and shouldn't have it.
In case you haven't noticed, there's an economic meltdown in progress because people haven't been realistic about what they can afford, and feel like they should have everything simply because (and only because) they want it.
Holy crap this is an awesome response!! You have summed up my feelings
to a T!!! Thanks for stating something that needed to be said.
10-23-2008 | 09:58 PM
#48
Registered User
Joined: Apr 2007
Posts: 287
From: Richmond, VA
I'll have to agree with you on this one guionM. The reality is some people making $300,000 a year will not be able to afford a new Camaro or any other new car as they have already overbought in every single lifestyle category such as housing, furnishings, home theater/big screen tv, food budget too high, expensive clothing, expensive vacations, a time share at the mountains or the beach, and on and on and they are already in debt up to their ears. Most of them have a bad case of trying to keep up with the Jonses, biggest widescreen, etc. and also a bad case of status. For those that aren't familar, status is buying things you don't really want or need to impress people you don't like, all with money you don't really have. If you live reasonably within your means you can afford a new car without a big strain on your budget. I look at people paying $1200-$1800 a month for apartment rental and I'm like "what, are you nuts?". It's all about where you place your priorities and how well you live within your means, nothing more, nothing less. I personally find the new Camaro to be reasonably priced with the equipment it comes with.
Clyde
Clyde
10-24-2008 | 11:46 PM
#49
Registered User
Joined: May 2000
Posts: 215
From: nj
I don't think I'll be getting one. I have a 00 SS with 26kmi on it, that is paid off.
I have two kids and a fat mortage. It is not reasonable for me to drop $34,000$ on a car that isn't going to be leaps and bounds better than what I have. My other ride is a 2005 TB, I think I am more apt to get a better Family ride than the new Camaro. Sorry General but you missed me by a few years, and since this Camaro isn't even out yet , maybe in the next two years , what..........ever
more for you guys, can't f-ing wait for the dealer markups....we'll easy see $40k ss
I have two kids and a fat mortage. It is not reasonable for me to drop $34,000$ on a car that isn't going to be leaps and bounds better than what I have. My other ride is a 2005 TB, I think I am more apt to get a better Family ride than the new Camaro. Sorry General but you missed me by a few years, and since this Camaro isn't even out yet , maybe in the next two years , what..........evermore for you guys, can't f-ing wait for the dealer markups....we'll easy see $40k ss
10-25-2008 | 02:26 AM
#50
Registered User
Joined: Mar 2001
Posts: 4,000
From: TX Med Ctr
There are quite a few ways this poll makes no sense because income isn't the driving factor in purchasing a car and it talkes only a single snapshot and uses it as the criteria to prove a point that simply can not be proven.
A military E5 who is single takes home about 25-30K per year can easily buy a Camaro... even a Z28, but a person who is making $75K per year who is paying the college tuition of 2 kids and a morgage can not.
A married couple together making about 60 grand and living in an apartment might easily afford a Camaro, but they are saving for a house, so they can't.
Age, priorities, and the simple fact as to what fits your needs drives a car purchase just as much if not more than an actual price tag.
On another similar subject, I am simply dumbfounded that so many people here are shocked at the price. Are you guy's kidding me???
I recall a thread back around the time the current Mustang and 300 came out when it was all but carved in concrete that any future V8 powered cars were going to be knocking on the 30 grand door if not more. Fuel economy and/or the lower demands for V8 engines mean that either the production cost of the V8 would be spread among fewer people (higher prices) or that there would be a surcharge on the V8 to encourage sales of more fuel friendly versions (again, higher prices). Either way, days of V8s as cheap performance was over years ago (even a Mustang GT is at least $5,000 over a similar V6 model).
I also recall many times here where others as well as myself pointed out that such things that were being demanded such as IRS and a chassis to take as much horsepower as everyone was wanting would certainly send prices skyward. I myself also made the point that looking at the sales numbers, all those guys who bought Camaro SSs with list prices at or above the $30K mark while entry level $21K Z28s sat on the lots as orphans were all but eliminating cheap performance in the future.
Now, here we have a coupe with IRS, a body that can take massive power, and there seems to be a collective shouck just because a 425 horsepower Camaro costs $30,000. Give me a break! It wasn't too long ago that 400 horsepower cars cost $32-35,000 (ie: Cobra & LS2 GTOs).
For those whining that a V6 Camaro costs $22K, you guys need to take a sedative. We're talking about a direct injected, 300 horsepower, sub-6-second-to-60-mph, 155 mph, IRS equpted, large all wheel disc brakes, multiple airbaged, very well equpted car.
If you still feel the need to whine and cry about paying $22-25K for a 300 horse V6 Camaro like that, go to Infinity and look at the G37 coupe and it's $34,000 price tag. The 268 horses you get at that price makes even 30 grand for the SS look like a steal. Even if the 400 horse V8 Mustang comes in at the same price as the current one, it still doesn't have IRS and as solid construction as Camaro.
As I've always said on this subject, everything has a price... there's no free rides. We have a $32-40,000 Camaro at a $22-30,000 pricetag. By every indication, it's a great car.
If you can't afford it, you should either 1) Save up till you can buy a new one, even it takes a few years, 2) wait a year or 2 till you can get one used, 3) Buy a Mustang, or 4) really take time to question whether you should even be buying a new car at all since the average price for a new vehicle is still just over $30,000.
In short, if it's too much for you, then you don't need it and shouldn't have it.
In case you haven't noticed, there's an economic meltdown in progress because people haven't been realistic about what they can afford, and feel like they should have everything simply because (and only because) they want it.
A military E5 who is single takes home about 25-30K per year can easily buy a Camaro... even a Z28, but a person who is making $75K per year who is paying the college tuition of 2 kids and a morgage can not.
A married couple together making about 60 grand and living in an apartment might easily afford a Camaro, but they are saving for a house, so they can't.
Age, priorities, and the simple fact as to what fits your needs drives a car purchase just as much if not more than an actual price tag.
On another similar subject, I am simply dumbfounded that so many people here are shocked at the price. Are you guy's kidding me???
I recall a thread back around the time the current Mustang and 300 came out when it was all but carved in concrete that any future V8 powered cars were going to be knocking on the 30 grand door if not more. Fuel economy and/or the lower demands for V8 engines mean that either the production cost of the V8 would be spread among fewer people (higher prices) or that there would be a surcharge on the V8 to encourage sales of more fuel friendly versions (again, higher prices). Either way, days of V8s as cheap performance was over years ago (even a Mustang GT is at least $5,000 over a similar V6 model).
I also recall many times here where others as well as myself pointed out that such things that were being demanded such as IRS and a chassis to take as much horsepower as everyone was wanting would certainly send prices skyward. I myself also made the point that looking at the sales numbers, all those guys who bought Camaro SSs with list prices at or above the $30K mark while entry level $21K Z28s sat on the lots as orphans were all but eliminating cheap performance in the future.
Now, here we have a coupe with IRS, a body that can take massive power, and there seems to be a collective shouck just because a 425 horsepower Camaro costs $30,000. Give me a break! It wasn't too long ago that 400 horsepower cars cost $32-35,000 (ie: Cobra & LS2 GTOs).
For those whining that a V6 Camaro costs $22K, you guys need to take a sedative. We're talking about a direct injected, 300 horsepower, sub-6-second-to-60-mph, 155 mph, IRS equpted, large all wheel disc brakes, multiple airbaged, very well equpted car.
If you still feel the need to whine and cry about paying $22-25K for a 300 horse V6 Camaro like that, go to Infinity and look at the G37 coupe and it's $34,000 price tag. The 268 horses you get at that price makes even 30 grand for the SS look like a steal. Even if the 400 horse V8 Mustang comes in at the same price as the current one, it still doesn't have IRS and as solid construction as Camaro.
As I've always said on this subject, everything has a price... there's no free rides. We have a $32-40,000 Camaro at a $22-30,000 pricetag. By every indication, it's a great car.
If you can't afford it, you should either 1) Save up till you can buy a new one, even it takes a few years, 2) wait a year or 2 till you can get one used, 3) Buy a Mustang, or 4) really take time to question whether you should even be buying a new car at all since the average price for a new vehicle is still just over $30,000.
In short, if it's too much for you, then you don't need it and shouldn't have it.
In case you haven't noticed, there's an economic meltdown in progress because people haven't been realistic about what they can afford, and feel like they should have everything simply because (and only because) they want it.
Other than that I agree completely.
10-25-2008 | 05:18 PM
#51
Registered User
Joined: Aug 2008
Posts: 2
From: Florida
I'm disappointed in the pricing of the Camaro, I thought they were going to price it to be competitive with the Mustang, but I bought an '06 Mustang new fully loaded pony package for $24,000 and yet to but the fully loaded v6 with out the RS package you are talking around $30,000. I was all excited about getting a new Camaro, had a Trans Am before the Mustang, but not any more GM outpriced me, I'll be sticking with my Mustang for now maybe looking at the 2010.
10-26-2008 | 09:48 AM
#52
Registered User
Joined: Aug 2006
Posts: 395
From: St. Peters, MO
I'm disappointed in the pricing of the Camaro, I thought they were going to price it to be competitive with the Mustang, but I bought an '06 Mustang new fully loaded pony package for $24,000 and yet to but the fully loaded v6 with out the RS package you are talking around $30,000. I was all excited about getting a new Camaro, had a Trans Am before the Mustang, but not any more GM outpriced me, I'll be sticking with my Mustang for now maybe looking at the 2010.
10-26-2008 | 07:15 PM
#53
Registered User
Joined: Jun 2004
Posts: 2,977
From: SeVa
I think depends on how he's going to use it. 300hp is more than plenty for the average guy doing the average commute - now if your the ***** to the wall hardcore street racer looking to smoke your competition at every stoplight, safety of the public be damned, its not.
Not that I've been moved to look, but what specifically does the F5 offer over the S-197 in features (IRS, M6/A6, 20" wheels, and 422hp aside - all nice stuff mind you and well worth the premium over the Mustang IMO)?
Also, fully loaded Camaro does not = fully loaded mustang. There are many features available on a Camaro that aren't available on a mustang.
10-27-2008 | 12:21 AM
#54
Registered User
Joined: Aug 2008
Posts: 2
From: Florida
Here is a list of some what my mustang has...
• Audio – Shaker 500 Audio
System (AM/FM stereo
w/CDx6, 8-speakers & MP3)
• Seats 6-way power
adjustable driver w/2-way
adjustable head restraint
& power lumbar
• Rear window defroster
• Remote keyless entry
• Speed control – steering
wheel-mounted
5R55S 5-Speed Automatic Transmission
Active Anti-Theft System (incl. perimeter inclination & intrusion alarms)
Interior Upgrade Package (incl. bright polished six-gauge instrument
cluster w/My Color feature, bright shift **** & satin register vents
w/satin aluminum spokes on steering wheel, door latches, door scuff
plate. Also incl. message center, leather-wrapped steering wheel &
Dark Charcoal Aberdeen pattern front door panel inserts)
V6 Pony Package (incl. unique Pony grille with chrome bezel and fog
lamps, rear spoiler, 17" painted cast aluminum wheel w/bright
machined rim, Z-branded A/S tires & unique tri-bar Pony center cap,
Pony front fender badges, lower door tape stripe available in black,
white or pearl gold and carpeted front floor mats w/unique brushed
chrome "MUSTANG" badge in 2006MY interior colors, GT-inspired
suspension modifications featuring a larger front stabilizer bar, the
addition of a rear stabilizer bar, Anti-Lock Braking System (ABS)
w/Traction Control
10-27-2008 | 09:04 AM
#55
Thread Starter
Registered User
Joined: Feb 2005
Posts: 506
From: Columbia, SC
I had originally made this poll to basically see how many other folks are in my boat. Sadly, i suppose, I've had the misfortune of changing jobs with every president. First laid off on 9/7/01, only to work the next 7.75 years to make what i was making on 9/7/01, and then to quit there, once i had re-attained that salary, to go to yet another job, starting over again. It seems like every time we have a new president, within a year of it im starting over salary wise, while expenses, only get higher. Back in 97, when i first started in my career, 30k was a decent living in my area, with gas barely above 1.00 a gallon, and utilities much lower as well. Now, in 2008, my salary of 30k is chicken feed. If its not basic necessitys, its not purchased, and while some may say so be it, i for one feel its a big bummer, even if I do love the job. What makes it worse is its a state job, so there's very little hope for major increases. The other part of it that I am thankful for though is that i am in fact employed.. that alone is something that is very comforting for me right now.
Yes, we've covered the price versus value pretty well since then, and while it is a great value, it doesnt make my income any higher, or make me more able to purchase the SS or dare i say *if* it is made Z/28 that i truely desire.
I've had a v6 camaro before, and while its a totally different beast than what we're going to be getting, its still not a v8, and wont have the sounds of the v8, or the other power. What did I do with that v6 camaro? i made it a v8. I figured i'd from that point on, buy only what I wanted to begin with, instead of settling for a "hold me over" regardless of how good of a car the v6 may be. That being said, the only way i can see myself having enough money to purchase a new camaro, is to either rob banks, win the lottery, or recieve some sort of inheretance.. and well only the first one is most likley to happen these days.
Guy, While you know vastly more than I ever will when it comes to GM and the business, I have to disagree with the whole income is not the driving force on buying a new car. If I made 70k a year, i'd be driving a brand new G8 now, and the wife would be in a brand new Tahoe. Where I live Cost of living isnt that high, and those two vehicles would be easily affordable on a combined family salary of 100k. But on our combined of 50k, its just no where near a reality.
The analogy of the E5, being able to buy a camaro may be valid, but single e5 military personnel have the choice of living on base, in base provided housing. Factor in that e5 paying a 80k mortgage at 6% apr for 30 years, and utilities, your down easily 1000.00 a month just for living expenses, and that E5 being able to purchase a new camaro drastically drop, unless he has room mates.
I've read in this thread that a lot of folks make more than the 150k cap i had put on it, and for those folks good for you! I am envious, but at the same time, I consider myself to be a fairly normal american, one of the old "middle class" that now is the "poor Class" If I made 150k a year, I wouldnt have a house payment, or any other debits, but alas, thats not my lot in life.. And I figured that alot of folks were in my boat as well. If I was wrong in this I apologize, but somehow i dont think i am. So in the end, it will probably be a used F5 for me, unless i won that bumble bee
Yes, we've covered the price versus value pretty well since then, and while it is a great value, it doesnt make my income any higher, or make me more able to purchase the SS or dare i say *if* it is made Z/28 that i truely desire.
I've had a v6 camaro before, and while its a totally different beast than what we're going to be getting, its still not a v8, and wont have the sounds of the v8, or the other power. What did I do with that v6 camaro? i made it a v8. I figured i'd from that point on, buy only what I wanted to begin with, instead of settling for a "hold me over" regardless of how good of a car the v6 may be. That being said, the only way i can see myself having enough money to purchase a new camaro, is to either rob banks, win the lottery, or recieve some sort of inheretance.. and well only the first one is most likley to happen these days.
Guy, While you know vastly more than I ever will when it comes to GM and the business, I have to disagree with the whole income is not the driving force on buying a new car. If I made 70k a year, i'd be driving a brand new G8 now, and the wife would be in a brand new Tahoe. Where I live Cost of living isnt that high, and those two vehicles would be easily affordable on a combined family salary of 100k. But on our combined of 50k, its just no where near a reality.
The analogy of the E5, being able to buy a camaro may be valid, but single e5 military personnel have the choice of living on base, in base provided housing. Factor in that e5 paying a 80k mortgage at 6% apr for 30 years, and utilities, your down easily 1000.00 a month just for living expenses, and that E5 being able to purchase a new camaro drastically drop, unless he has room mates.
I've read in this thread that a lot of folks make more than the 150k cap i had put on it, and for those folks good for you! I am envious, but at the same time, I consider myself to be a fairly normal american, one of the old "middle class" that now is the "poor Class" If I made 150k a year, I wouldnt have a house payment, or any other debits, but alas, thats not my lot in life.. And I figured that alot of folks were in my boat as well. If I was wrong in this I apologize, but somehow i dont think i am. So in the end, it will probably be a used F5 for me, unless i won that bumble bee
10-27-2008 | 10:40 AM
#56
Registered User
Joined: Aug 2006
Posts: 395
From: St. Peters, MO
The analogy of the E5, being able to buy a camaro may be valid, but single e5 military personnel have the choice of living on base, in base provided housing. Factor in that e5 paying a 80k mortgage at 6% apr for 30 years, and utilities, your down easily 1000.00 a month just for living expenses, and that E5 being able to purchase a new camaro drastically drop, unless he has room mates.
There are a ton of incentives for current military members that don't really get heard about.
10-27-2008 | 11:35 AM
#57
Thread Starter
Registered User
Joined: Feb 2005
Posts: 506
From: Columbia, SC
As a former E6 (Petty Officer First Class) I think I can speak on this a little bit. I do agree with your first point, but (at least in the Navy) E5 and above, whether they are married or not, are eligible for a (non-taxable) housing allotment. So while you may have a $1k mortgage, you are most likely getting about $800/month non-taxable housing allotment.
There are a ton of incentives for current military members that don't really get heard about.
There are a ton of incentives for current military members that don't really get heard about.
10-27-2008 | 02:29 PM
#60
Super Moderator
Joined: Jul 2005
Posts: 9,497
From: Okemos, MI
My wife and I earn between 75 and 100k combined, and if the car came out today, we would not be able to afford one.
That's a very small picture of the situation, though. We have two mortgages and two car loans, plus a large chunk of debt left over from when I was unemployed a couple years ago.
In mid-2010, the car loans will be paid off and the second mortgage should be down low enough that we can refinance into a single, lower-rate loan. Then, I don't see why we wouldn't be able to buy one, if we decide that's the right thing to do when the time comes.
That's a very small picture of the situation, though. We have two mortgages and two car loans, plus a large chunk of debt left over from when I was unemployed a couple years ago.
In mid-2010, the car loans will be paid off and the second mortgage should be down low enough that we can refinance into a single, lower-rate loan. Then, I don't see why we wouldn't be able to buy one, if we decide that's the right thing to do when the time comes.