Advice on obtaining my Z? Please help!! I need vision and comfort.

HolyBloodshot

I don't own my Z yet. But I need some experts to help me determine when I will be able to obtain it! Everything is just a giant question mark right now

I am aiming for next June, if that is even possible.
First off, I have no expenses other than the upkeep of my current 01 Focus. So literally everything I make goes into the bank.
I've got about 4k saved as of right now. I can easily put 1k into the bank every month. So I have a solid income, and I can definitely make payments.
The only problem is that I am going to have to get a loan on my own (I'm 20). And I just started building my credit this past April. However, I am religious with payments, and never have any outstanding bills/payments. I believe that I am building credit as quickly as possible. (?)

Is it even realistic for me to get a Z by June? I can round up a down payment of around 14k.
Would a bank give a 20 year old with 1 year of solid credit history an 8k-ish loan?
What can I do to get this down solid. I'm willing to work my *** off.

jpritche

I am 20 also. I was blessed enough that my car is paid off, thanks to my father.

However, if I was in your shoes, and could put $1k a month in the bank, I would continue to do so until you have at least $20k saved up, then see if you can get approved for an 8k loan. If they say yes, you have 6k of emergency money that you can put in a savings account in case something happens. If they say no, you can more than likely get approved for a 2k loan(or however much else you need). I like to look into the future and plan for what Ifs.

Obviously, it all boils down to what you want to do. It is your money and your life. However, if I was in your situation I would wait a little longer and save up more money.

Fabio88

in my opinion just keep saving cash is king. Wait a couple more years before you get the car. Build up your credit age does not matter so use a credit card never use more then 50% available credit.

6MT

Blessed...? I'll say! Congrats!

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Andrew

2009 370Z Sport/Touring 6MT sold
2013 Honda Civic Si coupe D/D

jpritche

Thanks. I appreciate it. I've made him more money than how much the car is worth though!

Fabio88

My grandma bought me a new 2003 touring 350z when i was in high school, She shouldn't have gave it to me then because i didn't respect because i did not buy it i ended up blowing the engine right after high school...

DEpointfive0

You're gold, I went in with 11k and borrowed 22k just to help my credit more...
And I had 11 months of credit history
Go to your bank first and get a loan estimate from them... And tell them how much you're putting down in exchange for the loan, rub that in, they should give you a credit bump
(I don't know what POS 370 you're buying for $22k out the door... But whatever)
And if/when you go to a dealer, TELL them that your bank has given you a loan rate and make sure they bump you down as much as possible because you're putting so much down on the price of the car.

Fabio88

I agree dont buy the z if its worth $22k if your car gets broken you have a payment and the car doesnt work....

Khemosabi

I applied for my first cart loan of 13k on my 2006 Miata when I was 21, I had good credit but the bank would not approve me for a loan simply because I didn't have enough credit history. (or maybe bc I'm a girl... jerks)
Thankfully, my mom agreed to co-sign for me and we got the loan.
I'm 23 now and two weeks ago, I came across a 2010 370Z and having 2 solid years of credit history, the bank approved me by myself for a loan of $20k after my trade-in and additional down payments.
My payments are a tad bit up there ($342 @5.9%apr) but I plan on paying her off early in January with the luck of two insurance settlements and my tax returns.
I don't suggest getting a loan for over 15k... Or even 12k at that... as your first, so save that money!!!
Also, keep insurance in mind! My miata was full coverage at approx. $1300/yr, the Z is $2k/yr. I'm really having to budget to keep this up!!

Maybe there are better paths that I could have gone to get my Z but I hope my experience helps you a little bit or at least gives you a bit of insight on what to expect!


Sent from my Evo using Tapatalk 2

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-Karen

nmjaxx9

being young and owning a Z ahh yes, best thing I did was build my credit early so that way I could afford to get a good apr %. Next had to make sure I set aside enough money for the rainy day, repairs etc, and then a down payment. That with a steady job/income and I dont see why you can't own one soon.

Fabio88

I'll sell you my Z for $90,000

bigdog1250

I think if you put anything over $10k down and finance through Nissan you'll have a good shot. I put $12k down on my Z and Nissan was happy to lend to me where as my local credit union was not.

Save your cash and come June you might be riding on some sexy wheels!

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350z / 40th 370z / C6 Z06 / BMW M4 / V10 R8 / C7 Grand Spot / 997.1 GT3 / S2K / Camaro ZL1 / 718 GTS / 991.2 GT3

Alstann

Saving and putting a nice fat down payment is a great way, as others have stated. Personally speaking, I spent two and a half years saving to buy my Z, and having done that, and earning it, especially at a young age, gave me a huge appreciation for what I drive. It makes the car more "fun," in a sense. Good luck getting your Z! It's completely, 100% worth it, and it's a pure driving pleasure.

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LakeShow

350z?

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|2013 Audi S4|Ibis White/Black|S-Tronic P+|
|2013 370z|PearlWhite/Persimmon|Touring/Sport/Nav|F.I. CBE 18" CF|
|Sold|2011 370z|Gun Metallic|Touring/Sport/Nav|

HolyBloodshot

I'm def not buying brand new. Another reason I want to make this happen by next June is I'm going back to school next fall. And that will rule my life.
So I'm going ham trying to make all this happen before I completely dedicate myself to school. That's the reason for the large down payment, I don't want a lot of debt while I work through school.
The Z's I've looked at range from 22-26k. They are used 09-10. I'm good at shopping for quality, don't worry about that.
Thanks everyone for the response! It means a lot
And I can always use more if you got it! Anything! Tips, advice, visions, questions.