Who REALLY owns their Z???

birdmanx1

Not to knock on you brother, I tend to cringe when I read about 5+ year repayments. By the time you get interests on the 6 yrs and whatever value the car would have remaining should you decide to sell ...

Congrats on the newborn and on such awesome plan. Nothing like knowing there won't any worries about how to cover college for the kid when comes the time.

Are you doing 529? I am staying away from it and doing with something else.

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370Z NISMO #0462 | ClearBra | 3M tint | Head/Taillights | Dynamat | Black Roof | Tommy Kaira HB | CF Parts | Berk HFCs | FI SS | NST Pulleys | Takeda aFe | K&N | H&R Spacers | Swift Spec R | SPC F&R | Zuperman M370
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JARblue

On our new 2011, we actually did a 7 year loan to get the payments below $400/month. But because of some extra work I do on the side, I usually get a couple of large checks each year, so I put a large chunk of each towards the car whenever we get them. We'll have it paid off in less than 5 years, or maybe even 4 years. Btw, I had to negotiate pretty hard with the bank to ensure that paying the loan off early would not result in a penalty (because they don't get all their interest - the loan is not through Nissan). This way, for me, it is like I put down an additional $10K at the initial purchase, but instead it is lumped into the loan and I don't have to pay interest on it if I pay it off the car early enough

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fonzo179

lol Mob Boss??? Ooohh, now that I think about it, I haven't paid my Z Car Mafia dues (places suitcase full of money on the ground and leaves quietly)

JARblue

I am part of a team that occasionally does life safety inspections of military hospitals. One week of that work pays the equivalent of about 30% of my day job annual salary

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zeeder

I definitely understand where you're coming from and I agree with you. I've consoled myself with the fact that it's only at 2.9% APR and the total interest over the six years will be less than 10% of the total cost of the car.

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Zack
FI catback, HFC, and Start Button - Z1 Intake - Nismo S-Tune Spoiler - PasswordJDM V2 Shift Knob

ocfoilist

Yes, we decided to go with the 529. It's got decent outs for various possibilities such as scholarships and such. There is a limit to schools outside of the US but it can also be applied to grad school. It can also be transferred to another family member, which I wasn't originally aware of.

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Proud owner of a new 167.2 inch, 3278 lb baby Z!
Stillen CBE & G3 Intake // Stillen Lightweight pulley // Stillen Oil Cooler // Goodridge Braided Stainless Steel Brake Lines // ACT HDSS Clutch& Alum Flywheel

birdmanx1

I'm not sure I follow.
Ah got it boss. I opted for individual stocks, mutual funds, buying property as college planning alternative. Got some decent returns on the stocks. An older friend of mine spooked me by the amount of money his 529 lost in the midst of the crisis right when his kid was set to start college.

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370Z NISMO #0462 | ClearBra | 3M tint | Head/Taillights | Dynamat | Black Roof | Tommy Kaira HB | CF Parts | Berk HFCs | FI SS | NST Pulleys | Takeda aFe | K&N | H&R Spacers | Swift Spec R | SPC F&R | Zuperman M370
Nismo Vid | Nismo Journal | Nismo Rumble

MarkGideon

You never really "own" anything as long as if you don't pay personal (or real ) property taxes the local government will take it away.

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2012 370Z Base Gun Metallic--2015 Altima 2.5SV Gun Metallic--2020 Chevy Silverado RST--1965 Chevy C10 Stepside Shortbed

MMC Racing

That is a silly way to look at things. No one ever owns their house either?

At least personal property tax on vehicles is tax deductible if you itemize. Pure vehicle registration fees aren't. I think all states have registration fees, so it is semantics in wording between states and nothing more.

The state with $50 in registration fees and $300 in personal property doesn't "own" your vehicle in contrast to the state with $250 in registration feels and $0 personal property.

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2014 F150 Raptor, 2014 Mazda 3, 2015 Nissan GT-R

MacCool

I lease my 2011. When the lease is up in a year, I'll either buy it, lease another one, or walk away and get something else.