COuld i financially own a nissan 370z

SkyZ · 06-28-2010, 03:04 PM

all that stuff about the 350 was really sensible.

as for the financing, id say put as much as u can down on the car to lower ur finance payments. Investment is a possibility, but this economy isn't what id call very stable. you could lose money just as quickly as u could gain it. im of course not your financial planner of any kind just saying the markets arent really that great =]

WarmAndSCSI · 06-28-2010, 03:11 PM

Quote:

Originally Posted by SkyZ

all that stuff about the 350 was really sensible.

as for the financing, id say put as much as u can down on the car to lower ur finance payments. Investment is a possibility, but this economy isn't what id call very stable. you could lose money just as quickly as u could gain it. im of course not your financial planner of any kind just saying the markets arent really that great =]

Taking 25-50% of his saved down payment and putting it in a 2-3 year CD wouldn't be a bad move at all.

That way he at least has something saved away and be earning some cash on it.

I blew my life savings on car stuff once... that was a retarded move. Would be the same to spend it all on a down payment.

Spec Jay · 06-28-2010, 08:18 PM

First, im glad to see that the OP hasn't been flamed right off the bat.

I bought my 370 when i was still 19 on my own credit, 6000 down. I make about the same as you. In may I also bought a house. So, yes you can own a 370 on your income. i still have about $300 in play money at the end of the month. not exactly where i want to be (I had planned on waiting till next year but the government incentives on first time home buying could not be passed up) but definately do-able. im on track to have the z paid off late 2011

SolarOrangeWA · 06-28-2010, 08:49 PM

Can you afford a 370? yes. Or more accurately, your parents can afford to support your purchase. I didn't grow up in a setting like that, so take this how you wish.

Reading your comments, I think you have a good outlook. I wonder if you might feel really good about the whole car thing if you just bought a 350 with cash. no help from the parents, just stand on your own two feet and buy that because it's what you can afford straight up. There's no way around the idea that you are buying a $45K 370 is funded in part because you have dad's help. The more at this stage in life that you can do on your own, with your own cash, the better in the long run for your confidence.

That's just my 2 cents.

SkyZ · 06-29-2010, 12:47 AM

Quote:

Originally Posted by SolarOrangeWA

Can you afford a 370? yes. Or more accurately, your parents can afford to support your purchase. I didn't grow up in a setting like that, so take this how you wish.

Reading your comments, I think you have a good outlook. I wonder if you might feel really good about the whole car thing if you just bought a 350 with cash. no help from the parents, just stand on your own two feet and buy that because it's what you can afford straight up. There's no way around the idea that you are buying a $45K 370 is funded in part because you have dad's help. The more at this stage in life that you can do on your own, with your own cash, the better in the long run for your confidence.

That's just my 2 cents.

he never said he was going to be funded it was under my impression he was either gonna buy a 350 no help or finance a 370 no help. his parents only provide room and board which hes gonna get regardless of if he buys a car.

zman99 · 06-29-2010, 04:19 PM

Quote:

Originally Posted by SkyZ

he never said he was going to be funded it was under my impression he was either gonna buy a 350 no help or finance a 370 no help. his parents only provide room and board which hes gonna get regardless of if he buys a car.

Correct under the ideal scenario, however what I think he is implying is that if he defaulted(which is high risk) his parent would share the debt or consequence due to the parents name on either the insurance or note for lower rate purposes. If im wrong shoot me down. Anyway the guy has a plan and he sounds confident so none of this even matters anymore so wish him luck.

IWuv370z · 06-30-2010, 09:44 PM

Thanks alot everyone

Plan: Put down 20k down payement, pay the rest monthly. I honestly just want the car, i dont care about the rest

Im young, going to live life to the fullest

SkyZ · 07-01-2010, 12:43 AM

Quote:

Originally Posted by IWuv370z

Thanks alot everyone

Plan: Put down 20k down payement, pay the rest monthly. I honestly just want the car, i dont care about the rest

Im young, going to live life to the fullest

props to you. u'll love the car, best of luck to you in the future. If i ever manage to find some time maybe we can go for a drive. pretty busy tho. we'll see in the future.

fullmonty · 06-29-2010, 04:40 PM

OP- Best of luck.

To the rest of you guys, I wana give ya'll props for not flaming the guy. Everyone gave him real solid advice. I wish I could +1 everybody in this thread.

KaienZ34 · 06-29-2010, 04:54 PM

You sure can it's easy, just takes awhile haha

Evolution_GT · 06-30-2010, 04:52 PM

OP I'm in the EXACT same position as you... currently living just north of Toronto, 20 years old and just about to graduate and begin a pretty nice full-time job that pays pretty well. I est. I'll be netting at least $3000/mo. after taxes in income.

I'm currently debating whether to move out or not my first year after graduating... but I've calculated that owning a 370z each month will cost about $1500, incl. gas an insurance, and that's assuming I'm putting $7000 down, the car being approx. $850/mo.

This is an awesome thread and I've definitely learned a lot from reading everyones input... and by having over $1000 to play with each month... I think I might decide to buy this time... but ONLY because I'm extremely passionate cars and the whole modifying scene in general, hence why I'm sacrificing any potential of saving for the next few years with this car.

But to divert a bit OT... I'm curious as to the regular maintenance cost of a 370z? Typical problems you face with the car in general? To avoid diverting the thread anybody with this info can pm me. Thanks!

Spec Jay · 06-30-2010, 05:50 PM

Quote:

Originally Posted by Evolution_GT

OP I'm in the EXACT same position as you... currently living just north of Toronto, 20 years old and just about to graduate and begin a pretty nice full-time job that pays pretty well. I est. I'll be netting at least $3000/mo. after taxes in income.

I'm currently debating whether to move out or not my first year after graduating... but I've calculated that owning a 370z each month will cost about $1500, incl. gas an insurance, and that's assuming I'm putting $7000 down, the car being approx. $850/mo.

This is an awesome thread and I've definitely learned a lot from reading everyones input... and by having over $1000 to play with each month... I think I might decide to buy this time... but ONLY because I'm extremely passionate cars and the whole modifying scene in general, hence why I'm sacrificing any potential of saving for the next few years with this car.

But to divert a bit OT... I'm curious as to the regular maintenance cost of a 370z? Typical problems you face with the car in general? To avoid diverting the thread anybody with this info can pm me. Thanks!

what kinda loan term are you looking at?

Evolution_GT · 06-30-2010, 06:30 PM

Quote:

Originally Posted by Spec Jay

what kinda loan term are you looking at?

60 months

Spec Jay · 06-30-2010, 09:53 PM

850/month @ 60 months is pretty freakin high. what about your interest rate?
unless your buying a touring roadster in black cherry fully loaded

IWuv370z · 06-30-2010, 10:05 PM

Quote:

Originally Posted by Spec Jay

850/month @ 60 months is pretty freakin high. what about your interest rate?
unless your buying a touring roadster in black cherry fully loaded

He has 0 down payement tho, im putting down 20 k

06-28-2010, 08:18 PM	#3 (permalink)
Spec Jay A True Z Fanatic Join Date: Apr 2009 Location: Bummerton Posts: 1,510 Drives: MtB 09 370z Rep Power: 20	First, im glad to see that the OP hasn't been flamed right off the bat. I bought my 370 when i was still 19 on my own credit, 6000 down. I make about the same as you. In may I also bought a house. So, yes you can own a 370 on your income. i still have about $300 in play money at the end of the month. not exactly where i want to be (I had planned on waiting till next year but the government incentives on first time home buying could not be passed up) but definately do-able. im on track to have the z paid off late 2011 __________________ 09 Monterey Blue Global Time Attack Street Class Build Build Thread:Saber! Instagram:@SpecJay

06-29-2010, 04:40 PM	#9 (permalink)
fullmonty A True Z Fanatic Join Date: Nov 2009 Location: Dirty Jersey Posts: 7,762 Drives: 370 Touring/Sport Rep Power: 34	OP- Best of luck. To the rest of you guys, I wana give ya'll props for not flaming the guy. Everyone gave him real solid advice. I wish I could +1 everybody in this thread. __________________

06-30-2010, 04:52 PM	#11 (permalink)
Evolution_GT Base Member Join Date: Jun 2010 Location: Toronto Posts: 37 Drives: E93 & STB Z34 Rep Power: 15	OP I'm in the EXACT same position as you... currently living just north of Toronto, 20 years old and just about to graduate and begin a pretty nice full-time job that pays pretty well. I est. I'll be netting at least $3000/mo. after taxes in income. I'm currently debating whether to move out or not my first year after graduating... but I've calculated that owning a 370z each month will cost about $1500, incl. gas an insurance, and that's assuming I'm putting $7000 down, the car being approx. $850/mo. This is an awesome thread and I've definitely learned a lot from reading everyones input... and by having over $1000 to play with each month... I think I might decide to buy this time... but ONLY because I'm extremely passionate cars and the whole modifying scene in general, hence why I'm sacrificing any potential of saving for the next few years with this car. But to divert a bit OT... I'm curious as to the regular maintenance cost of a 370z? Typical problems you face with the car in general? To avoid diverting the thread anybody with this info can pm me. Thanks! Last edited by Evolution_GT; 06-30-2010 at 04:55 PM.

06-30-2010, 09:53 PM	#14 (permalink)
Spec Jay A True Z Fanatic Join Date: Apr 2009 Location: Bummerton Posts: 1,510 Drives: MtB 09 370z Rep Power: 20	850/month @ 60 months is pretty freakin high. what about your interest rate? unless your buying a touring roadster in black cherry fully loaded __________________ 09 Monterey Blue Global Time Attack Street Class Build Build Thread:Saber! Instagram:@SpecJay

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06-28-2010, 03:04 PM	#1 (permalink)
SkyZ Enthusiast Member Join Date: Jul 2009 Location: Canada Posts: 382 Drives: 09 370z PG M6 Rep Power: 16	all that stuff about the 350 was really sensible. as for the financing, id say put as much as u can down on the car to lower ur finance payments. Investment is a possibility, but this economy isn't what id call very stable. you could lose money just as quickly as u could gain it. im of course not your financial planner of any kind just saying the markets arent really that great =]

06-28-2010, 08:49 PM	#4 (permalink)
SolarOrangeWA Base Member Join Date: Sep 2009 Location: Seattle WA Posts: 3 Drives: 07 350Z Rep Power: 16	Can you afford a 370? yes. Or more accurately, your parents can afford to support your purchase. I didn't grow up in a setting like that, so take this how you wish. Reading your comments, I think you have a good outlook. I wonder if you might feel really good about the whole car thing if you just bought a 350 with cash. no help from the parents, just stand on your own two feet and buy that because it's what you can afford straight up. There's no way around the idea that you are buying a $45K 370 is funded in part because you have dad's help. The more at this stage in life that you can do on your own, with your own cash, the better in the long run for your confidence. That's just my 2 cents.

06-30-2010, 09:44 PM	#7 (permalink)
IWuv370z Base Member Join Date: Jun 2010 Location: ontario Posts: 30 Drives: nissan 370z Rep Power: 15	Thanks alot everyone Plan: Put down 20k down payement, pay the rest monthly. I honestly just want the car, i dont care about the rest Im young, going to live life to the fullest

06-29-2010, 04:54 PM	#10 (permalink)
KaienZ34 A True Z Fanatic Join Date: Oct 2009 Location: LA. not L.a. Posts: 21,652 Drives: Z34 Tour/Sport Rep Power: 178	You sure can it's easy, just takes awhile haha