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[Dallaz]

Originally Posted by nepali

Think of it this way. Say you had no car to trade in and you were just buying a brand new Z. Your total cost would be $42k, correct? So, now, you already have $27k loan. Dealer agreed to give you $22k. You pay $22k on your existing loan leaving you with $5k. Now, add $5k to $42k, and you have $47k. Does that help?

Exactly. And thats before taxes which you will have to pay within 30 days of purchase if they dont just roll into the payments as well, and it's safe to say they will be around 3k meaning your paying right at $50,000 for the Z, before warranty options, them comes insurance.

[6MT]

Hi

[370zFTW]

Oh and thank you guys for helping me understanding the loan stuff! Was very helpful!

Almost forgot about asking this too, Since my dad co-signed the loan for my Maxima and he didnt put my name in there with him and now I'm not earning any credits. Can I go refinance my loan and have my name on there with my dads? if I can will my payments go up more since I dont have any credits?

[864Zbeast]

Good luck man and try to find you a nice used 09-10.

[370zFTW]

Originally Posted by 864Zbeast

Good luck man and try to find you a nice used 09-10.

Thanks, you know anything about refinancing the loan? Info I posted above.

[864Zbeast]

Originally Posted by 370zFTW

Thanks, you know anything about refinancing the loan? Info I posted above.

I don't know enough to guide you. Sorry. Go talk to a dealer and see if they can help you out.

[sfearl1]

edited: save your money and build some credit

[370zFTW]

I went to the dealership the other day to find my dealer that sold me the car and the other dealer told me that he doesn't work there anymore lol I was wtf


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[MacLean]

Originally Posted by wind.zero

Just my opinion but rolling over negative equity into a new auto loan is not a smart financial decision. You are just setting yourself up for a downward spiral of depreciation that is extremely hard to recover from without making substantially higher monthly payments.

+1......... znot smart at all.

Originally Posted by nepali

Not that I am disrespecting your choice, but, why not enjoy your practically brand new Maxima for few more years and then look into getting a Z or another sports car when you are financially well off on your own?

+1........ You have only had it for 11 months & only have 5,100 miles on it. You can always fix up the Max to your own liking (rims, lower it a bite, ground effects & etc). The Max is not an ugly looking car by any means. If your dad co-sign for you, then you are still building up credit regardless b/c your name is on the document. Now if payments stop & car gets repo, then both of your credit scores will be f**ked. So keep paying the note (you or your parents) & be happy that you have a nice car b/c it is better than not having anything at all.

[370zFTW]

Originally Posted by cgmg21

+1......... znot smart at all.



+1........ You have only had it for 11 months & only have 5,100 miles on it. You can always fix up the Max to your own liking (rims, lower it a bite, ground effects & etc). The Max is not an ugly looking car by any means. If your dad co-sign for you, then you are still building up credit regardless b/c your name is on the document. Now if payments stop & car gets repo, then both of your credit scores will be f**ked. So keep paying the note (you or your parents) & be happy that you have a nice car b/c it is better than not having anything at all.

I agree with you on this. I went to the dealership the other day and I told him what I wanted to do so then he wrote down my info and then went to check my credits. When he came back he said that I didn't have any credits since the loan is in my dads name. But I thought since my dad co-signed the loan I would be getting credits also.

Could I go refinance my loan and then have my name in the loan with my dad?


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[LakeShow]

Welcome! You will take a hit on the Max to get the Z.

[370zFTW]

Originally Posted by LakeShow

Welcome! You will take a hit on the Max to get the Z.

Thanks! Not really get what you are saying lol.


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[sfearl1]

Originally Posted by 370zFTW

Thanks! Not really get what you are saying lol.


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you will lose money on your maxima to get into a Z if you trade.

[MacLean]

Originally Posted by LakeShow

Welcome! You will take a hit on the Max to get the Z.

Originally Posted by 370zFTW

Thanks! Not really get what you are saying lol.


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Originally Posted by sfearl1

you will lose money on your maxima to get into a Z if you trade.

+1.....

What he is saying is that the dealership will not give you full value of what the Max actually is worth b/c they would need to make money off of the Max for themselves. You still owe 27k on the Max & let's say that the Max is actually worth 28k. The dealership might give you 22k maybe 24k, so you are down 3-5k that would be rolled over into your new car if decided to actually get the Z. This would not be wise or a smart move on your behalf. The goal is to break even or come out ahead, but not be negative & jump into another vehicle. That is just crazy & stupid.

As others have stated & including myself enjoy the effen Max. You can still do a lot to it to make it look cleaner & sexier than before. I would join a Toyota forum for Max's & see what others have done with their Max's. I would love to have either a brand new GT-R, M3, or a Cayman R. I do not want to buy a car that the monthly car payment is an effen mortgage payment..... NOT PRACTICAL. So I am enjoying what I have & I really do like it (my Nismo).

[sfearl1]

a used 350 is a better option for you.