Quote:
Originally Posted by IWuv370z
I read all of your suggestions and possibilities...
I can basically put down 20k as a down payement, now idont know how much that affects the monthly bills on the car, but including the insurance on my parents and such, then i believe i can afford it. Although then, if I buy a nissan 350z right, get it modded, keep saving up money while enjoying the 350z, I can always sell it, and have alot of money saved up in a year or two, and combine that to buy 370z. My company will give me a bigger raise of over 46k a year, i will be promoted soon... I am their most valuable employer because I am so skilled with computers and i know many languages.
but anyways...
I can either work my *** off to enjoy a 370z with insurance payements, monthly payments, and really have no money left to save up. OR I can buy a 350z, have it for 1 year, and during this time save up money because i can pay fully for the car.. then sell it and use all my savings to buy a nissa 370z and pay 3/4's of the car, instead of 1/4.
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Having to finance less with help you save a ton of cash unless you can somehow find a low interest or 0% interest on a loan. I don't know your full financial situtation or credit history so I can only tell you that you should pay as much money up front. It also depends on how many years you plan to pay off the loan. 5 year loan for 20,000 is about $333 a month plus insurance & interest or $555 a month for a 3 year loan plus insurance & interest . Paying it off quicker means lower interest rate. You can "afford" the car with $20k down, A little over $450 a month isn't too bad at all.
Just remember that while under your parents insurance, if you do anything stupid, they can go after your parents assets. You probably know that already, but you should try to get your own insurance if you can. There is a reason why the insurance is so high on sports cars especially for anyone with less than 5 years experience behind the wheel. $20k is alot saved up, its your decision, take your time and don't rush into anything. Also know that no job is 100% secure, no matter how valuable you are.