After buying a used 240Z in 1977, my 370z is my 5th Z car. I have always had at least one since 1980. I have 141,000 miles on it and
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07-05-2020, 05:12 PM | #46 (permalink) |
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After buying a used 240Z in 1977, my 370z is my 5th Z car. I have always had at least one since 1980. I have 141,000 miles on it and just replaced my clutch because if the CSC. I was really trying to get 200,000 out of my clutch like my 86 got. I get 90,000 on brakes, usually my rears need replacing first. I plan on keeping it for another 5 years so I have customized it the way I want. It is cheap to keep on the road. When my brother was looking for a car to buy I told him I didn't know what he wanted but I have fun going to the grocery store. If you know of a more reliable, very fun car to own, please tell me.
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03-06-2023, 10:34 PM | #48 (permalink) | |
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03-06-2023, 10:43 PM | #49 (permalink) | |
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03-06-2023, 10:47 PM | #50 (permalink) | |
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On a side note, now is a really bad time to buy and/or to get into unnecessary debt. Interest rates have gone up so borrowing will be alot more expensive and you would qualify for less of a loan (provided you qualify at all). Prices have gone up due to inflation AND due to global supply issues and shortages of supplies and parts needed to build (i.e. semiconductors). High rates + high prices = does not make any sense to make big purchases** in this current economic environment. **The ONLY exception to this is if you are buying a home, in which case you are investing into something that will appreciate in value (esp. due to shortage in supply), rather than a car which will depreciate.
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03-08-2023, 02:07 PM | #51 (permalink) | |
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03-10-2023, 01:31 AM | #52 (permalink) |
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Back from the grave
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03-10-2023, 09:59 AM | #53 (permalink) |
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Bought our house for $140k, currently "worth" $511k, you really think that's going to appreciate? NEVER buy high, all consumables and real estate are currently high.
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03-10-2023, 01:33 PM | #54 (permalink) | |
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After the late 2000 housing crash, a lot of new home builders went out of business, and for the builders that were fortunate enough to stick around, they built cautiously and rightfully so. Around the housing crash came the Great Recession so people were scared to buy and banks were scared to lend, so home builders severely underbuilt new homes to ensure their financial stability (why build when it costs money to produce and no one is really buying and with the housing market crash, no one was really looking to buy). Within these 15 years, households have grown significantly, but no where near the amount of homes available to support this growth. Simple supply/demand, you now have more buyers (even with raised rates) than actual homes available for sale. You have more competition now in terms of home buyers than before, esp. with COVID: 1. Existing home owners who want to upgrade (first-time home buyers cannot compete with this group simply because of the lack of equity) 2. Millenials and Generation Z have reached the age of first-time home buyers. 3. COVID: many companies offered remote work and many have flocked to FL (for political asylum, no state income tax, weather, etc.). So yes, home values will continue to rise, maybe not as fast as during COVID, but unless the housing market crises somehow fixes itself fast with more supply, values will not decrease. You said it yourself that you went from $140K to $511K - this is a HUGE increase. With your logic of not buying high, if you wait until rates go back down, you will be going through exactly what we just went through: HIGH competition, much more inflated home values, bidding wars, much more out of pocket costs to entice the sellers to accept your offer, etc. If you buy high, the rates can always be refinanced when they drop, and you won't go through the bidding war nonsense. Renting rates are just as high, if not higher than mortgages, so which makes more sense: 1. Rent high with no equity building and pay 100% interest OR 2. Buy high and build equity with the option to refinance rates when they drop
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Don't like what I post? Too bad. I really don't give a sh!t Last edited by vtec to vvel; 03-10-2023 at 01:37 PM. |
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04-02-2023, 02:38 PM | #55 (permalink) | |
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https://www.cnn.com/2023/04/02/cars/...s-inflation-dg "This is one of the worst times to buy a car in decades. " I have also said take the media with a grain of salt. What this article fails to address is the rise in rates. With current rates, qualifying for an auto loan will be harder and there is a very good chance that people will be qualified for a lesser amount than when rates were lower.
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04-19-2023, 10:26 PM | #56 (permalink) |
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im at 126K miles, honestly havnt been driving too much since my 5th gear synchros grinds, im currently replacing the transmission with a brand new one that cost roughly $2K. Im noticing the valve cover on both sides has small oil leak, i guess its common since they are made out of plastic. also noticing my hangers to my exhaust seemed to have disappeared so this might all be due to excessive track days.
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06-19-2023, 10:45 PM | #57 (permalink) |
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Of course the dealship dude will say SELL. All cars lose value over time so from that angle it makes finacial sense. But, buy what ? Another Z that follows the same downward spiral ? If the car has high mileage , you may not owe much more. The 370z was and is far ahead of its time and it a great car and aftermarket upgrades are abundant. Keep it, enjoy it and embrace one of the best ever cars in its time. Many car mags say its showing signs of age. Well , so is a 67 Camaro but people don't bail on those and they are not even in the league on the 370z.
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