Need help with buying or leasing a 370z please!
 

Ok guys so I'm looking at buying or leasing a 370z and I need some help. I'm 18 and I know my needs for a car will be different in 3 years so I looked into leasing, only problem is that I'm going to have to put at least 3-4 thousand down to even get the payments where I want them(350?) which is probably even under estimating it. I then started at looking at maybe buying a used 2009 370z for around 26,000 and just taking a loan out for 15,000 from my credit union for around 350 a month (perfect!). Do you think I could sell it in 3-4 years and still be looking okay financially? Leasing is just looking really grim right now. what do you guys think? any thoughts would be great thanks!

If you put 3-4k down, you will never get a payment of $350. It all depends on your credit and the APR u get too but no, not $350. I drove a couple cars from civic to acura TL but I think I'm gonna buy the Z this time cuz it will be awesome !!

Blue book lists a used 2009 370z with 15K miles in excellent condition at around 26.7. If you buy from a private party and not a dealer you may be able to avoid paying sales tax ... I'm not sure ... they may charge you the tax when you go to register it or transfer title .. Anyway say 28,000 total. If you put 6k down and take a loan for the remaining 22k your payment will depend on your interest rate. Used cars have higher rates and since you are young with likely little credit experience the rates may be high. Going with an unlikely 7% your payments on 22k would be around $435 a month.

Also, with a loan you'll have to have full coverage and with a Z and your age it may be expensive.

You could also look around for a 2008 350Z. That would save you a ton of money. You could probably find a used one with low miles for damn near half of MSRP.

Fortunately my dad will be the main signer with his perfect credit and I will co sign. I figured out with my Credit Union I could get my payments where I want them. Would I be investing in this car or am I going to be out that money in a couple years if the blue book goes down? another question arises as well, If I cosign will I be building credit? I really want to as well. Thanks!

I don't think you build credit as a co-signer with your dad as main. Even with good credit used car loans have a higher % than new. You dad should be able to get a good rate though. Try plugging some numbers in the calculator here and see what comes up

Auto loan calculator, car loan payment calculator by Bankrate

E.g. 15,000 & 5% for 60 mo. = $283 ... it goes up about 7 dollars per full % point

At 5% the payments go up around $19.00 per $1000

shoot I was really hoping to build some credit as well.. maybe I will see what rates I can get. So do you think buying a 2009 used would be a better Idea? Im thinking so at this point

but it.....u can do what ever you want to it then no contract bs in the way