The cost per gallon many times is cheaper but you have to factor in cost per mile also. E85 burns more so you will lower your MPG and in the end might not really save any money on a daily basis.
The pluses are it can run cooler and provide easier HP compared to pushing 93 or higher octane. I believe for moderate boosted 370z you need the proper injector size and fuel pump to match on this car.
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