COuld i financially own a nissan 370z

IWuv370z

Exactly, not sure how secure this job is going to be. I know i can afford it with a 5 year loan, but i think if I just buy a 350z and pay the full amount its going to take alot of stress off my shoulders...

plus if I mod it very nicely, i can make it look reallly nice.

Cmike2780

Agreed, go for the 350. You won't have to worry about voiding the warranty if your into modding. Who knows, maybe you could get a good deal on a used Nismo 350 if you are into that. Performance is on par with a standard 370. Insurance will be less expensive for a 350 also. The 350 is still a sweet car & I don't think anyone here would think otherwise. The 350 has plenty of parts to choose from that can be had for far less than a 370. Just don't go over the top, keep it clean and you can sell it when the time comes.

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zman99

I think you have been given a lot of mature advice here. I am also a young dude (23 pretty soon). I would say your number one priority is becoming more independent. Your question is verbatim to what I was asking at age 19. I ended up staying with the grand am that I had (and still drive). It turns out that the "awesome secure" job I had with my neighbors company was not the hit and I chose to enlist and finish my degree upon losing the job even though I was best. Dude I am really fond of the Z we all are and we gripe about its small flaws but its still our dream car.... Be aware, a lot can happen in 1-2 years. You could be seeing alot of your friends move out or feel cramped by living with parents. I gotta tell ya, at 19 bein off on my own, my own place, my own cell bill(no more gettin chewd on for high bill), havin all the friends over and last but not least bringing my girlfriend over. Dude imagine pullin the finest chick and being stoked about it only to tell her that you dont know if your parents are home so uuuhhhh.... buzz kill.

Put that $$ in a ROTH IRA, keep some for your self get an ok used car and live life to its fullest with out the stress of high bills. My buddy has a dodge ram that he drooled over and now he spends every week stressed over bills and spends the weekends trying to make extra pay. I feel ya dude, a nice billy bad *** car is what I look at on this forum every night too. But I tell ya what. At my place the beer never stops flowin, the music never stops, and the feeling of independence is .. well... liberating. I might get the Z if a bloody dealer will charge less then my two marbles. Before ya know it, time will pass and you being a hard worker and all .. will have the pick of the litter. Your making good pay now, but to get the full effect of the nice car get the full effect of the responsibility of finances. I wish you the best and hope you get the car you need.

IWuv370z

Honestly I completely understand what you are saying.

I don't drink or smoke and I am not too focused on friends or anything like that. I couldnt honestly care less if my friends were moving out or w.e, I just find that something to be what the media has influenced upon us. Why not live the life you want and live a nice house with my parents until I am set to go?

Reason i cant drink or smoke or anything is because i do fitness modelling during the summer. I have a comp in california soon and I have to cut down to a certain bodyfat Its a passion of mine, and I cant give that up for chicks and such, just not my personality type.

I agree that buying an ok used car is good, but thats honestly for someone who has a crappy job and living on his own. My parents are set for life basically, any money i make (may sound spoiled) doesn't goto my parents even tho i like to offer them the money.

anyways, i have the moneyto buy a 350z and pay out the car fully, just gonna have to pay insurance which will be under ym dads name/

IWuv370z

oh nah, i wont add bumpers and crap to it.

Ill make the interior all nicely designed and probably change the color.

zman99

Sounds like a plan and if your happy thats all that matters.

IWuv370z

thanks brother and also everyone else

This is one of the nicest and most mature forum boards i have ever been to.

10/10

Will surely post more around here as it isn't a waste of time.

WarmAndSCSI

I'd be kind of disappointed if you don't pick up the 370Z in the future.

Just remember, if you're going to mod the 350Z anyway, you might as well have spent the money paying for the more expensive 370Z. I spent over $50k modding my first car... and it may have been a highway killer, but it was nothing compared to the top-of-the-line Evo I could have bought with cash if I had just saved.

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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 =]

WarmAndSCSI

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.

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SkyZ

hehe in that case it turns into a mathematics thing. ur expected gains in this economy vs the savings if you put that money into your downpayment rather than investing it.

simple matter to calculate it all it depends on is the rates he gets.

oh and factor in risk i guess as well. all opportunity cost


btw to make this clear i in no way disagree with you. just my investments are kinda flatlining right now so im not too sure about the economy.

edit: one word i dont get in there CD, seems like an important thing, is it some sort of stable investment (government bond type thing)?

Spec Jay

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

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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.

WarmAndSCSI

No, I agree for sure (I work for one of the largest investment companies in the world, not a broker or anything, though)... but I just mean he shouldn't leave himself with absolutely no money saved away. Might as well keep a chunk of it and invest it, even if he spends it on paying off the car later; at least he's got it if he needs it.

A CD (Certificate of Deposit) is a relatively low-yield, guaranteed return investment which earns you a certain percentage of interest and pays you a return after a certain period (usually a few months to a few years). Basically, you're loaning money to a particular bank to invest or to use to loan money to other people. It's like a fixed-period savings account that pays you more than $5.00/year.

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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.