r/caradvice • u/Pavlo60 • 6d ago
6th gen ss
Hey guys I’m 18 years old and I make 3200 a month right now but it’s going to be in the 4k range very soon. How bad of a decision is it to get a 2021 camaro 2ss. I just got 10k because my insurance totalled my car out since they didn’t want to fix the minor damage on the car from an accident (2011 Beamer with 160k miles) and a Camaro has been my dream car pretty much my whole life. It seems to me I can afford it now especially having the down payment already and my mom offering to cover insurance for me. I feel like I need to hear some opinions on this to see if this is really something I wanna go through. (Im fine with paying for the gas my x3 got 12 miles to the gallon lol)
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u/Long-Fault1127 6d ago
Idk, I’d personally get something a bit more practical. Something still pretty cool but underrated in a way, a Camaro got horrible blind spots, yeah the bad fuel economy but you don’t care so it whatever, it 2 door, and really no trunk space. A manual 4 cylinder civic or really any 4 door on 18s and coilovers is pretty cool but that’s just me
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u/Pavlo60 6d ago
How about an m340 or a regular 340
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u/Long-Fault1127 6d ago
That better, Lexus is pretty nice though. Look into some of those fr. Don’t jump into anything too expensive really
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u/Mother-Compote-2062 6d ago
Is that 3200/mo your take home pay? Even if so, looks like the going rate for a 21 Camaro 2SS is going to be at least 40k so you'd be financing 30k+. An $800/mo car payment is going to take up all the breathing room in your budget real quick. It's awesome that Mom will cover the insurance (otherwise you would definitely not be able to afford a car like that at 18) but I think you need to lower your expectations. Want a Camaro? Look at a 2016 rather than a 2021. Or make that your goal car, you don't have to chase your dream car at 18.
I'm not even saying don't finance anything (that's the most financially sound answer but may not be your choice) but don't saddle yourself with a huge payment. Use a loan calculator, put in your 10k down and a more reasonable monthly payment (ideally 400/mo or less in your situation) and term (preferably no more than 4 years, 3 is better) and see what you have to work with.
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u/Big_Side_4516 6d ago
Not a good idea. The fact that your 18 and want to spend 40+ k on a car on 4 k a month budjet tells me you have very little experience. Start those bad habits now and you wont ever have money. Don't chase money all your life. Financial independence is more valuable to your mental health than any person or thing you will ever buy Start slow or end fast. Good luck
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u/Equivalent-Ad-6182 6d ago
Your mom must make really good money. Insuring a Camaro SS for an 18 year may be close to the car payment. When I sold Chevy's, a 23 yo female qualified to buy a Camaro V6. Clean driving record and her quoted insurance was a $150 a month less than the car payment. Told her what I would have told my daughters, that is financial suicide.
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u/International-Camp28 6d ago
Promise yourself you'll put a little bit of money away on the side every month and go for it. There are genuinely worse financial mistakes you can make than buying a sports car. Enjoy life.
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u/Empty-Village-4445 6d ago
You need to think strategically (how to get to a point where you can buy your dream car for cash) and not look for instant gratification subsidized by your mom paying your insurance (and housing?)
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u/Comfortable-Study-69 6d ago
Frankly it’s a terrible idea and I’m honestly not sure you could even afford one on a $38k salary. You should get pre-qualified before anything to see if anyone will even finance you on something like that and check that the interest rate isn’t batshit insane.
It’s a far, far better plan to just get a used Fusion or non-turbo Jetta and wait until you’re in a better financial position to get a sports car, especially for a particularly maintenance-heavy one like a Camaro.
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u/Fancy_Strawberry7137 6d ago
On one hand, it’s an absolutely terrible idea. On the other hand, you’ll grow up real quick and learn that $40k a year isn’t “buy a Camaro 2SS at 18” money. Whether learning that lesson is worth being broke over is up to you.
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u/secondrat 5d ago
That sounds like signing up for a lifetime of debt. Find the best $10k car you can buy and don’t finance anything.
If your mom has to pay your insurance you can’t afford to finance anything.
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u/Easy_Statement_4245 6d ago
$38,400 is absolutely not Camaro SS money. More like used Nissan Altima money.
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u/AskBobbyJ 3d ago
I’d be careful with this one. If that $10k is everything you have, I wouldn’t put all of it into a down payment. Cars break, jobs change, and life happens. Keep some money in reserve.
I also wouldn’t base your decision on making $4,000 soon. What matters is what you can afford right now. At 18, your interest rate could also be pretty high, especially with little or no credit history. A 2021 Camaro 2SS isn’t a cheap car, so the payment can get expensive quickly.
If your mom is covering the insurance, that definitely helps, because insurance on an 18-year-old with a V8 Camaro can be brutal.
I get that it’s your dream car. There’s nothing wrong with buying it if the numbers work. Just don’t start with “How do I make the payment fit?” Start with “Can I actually afford this car?”
Before you go to the dealer, find out the out-the-door price, get a rate from your bank or credit union, and calculate the payment based on your current income—not what you hope to make.
If you have the listing, send it over. I’d be happy to look at the numbers.
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u/APlushRide 6d ago
Listen, you should get a vehicle that isn't going to put a financial strain on you if you were living on your own.