General financing/trade-in/ordering question

daimon1313

Hey everyone. First off, let me just express what an incredible resource this forum is. I've learned a ton just by reading through all of the threads and it's helped me lock down on what I'm looking for.

This is a general financing question/scenario, so hopefully some of the dealership guys can help as well.

Here's my situation:

I recently (March '10) traded in my 2007 Altima 3.5 for a 2010 Hyundai Sonata. It was painful but I was married, preparing for an uncertain future after the Navy and getting ready to start a family. The 2010 Sonata just made sense.

Since then, I've gone through a divorce and was able to lock onto a job that gave me a significant pay hike. This complete turnaround has also affected my outlook on life a bit. I've worked non-stop for 10 years and I'm heading into a job where I'll work even harder; the good news is that this job will give the money and time to actually have some fun.

I decided I wanted a sports car, dammit. I've locked onto become a Z owner once more.

My question has to do with my financing options and the hurdles I'm facing. Currently, I owe $29k on the Sonata (I was upside down on the Altima when I traded that in). My plan is to not purchase the 370Z until I have $15k-$20k saved up in cash in order to put forth towards this purchase.

I should be able to have that amount by January or February. My plan is to purchase a new 2010 T/S or a NISMO.

From what I can figure, if I trade in the Sonata (currently $17k-$18k kbb value) and then put $20k towards the overall purchase, I'll be financing around $26k if I'm able to get the car for $34k or so.

If my figuring is correct, please let me know.

I'm definitely going to using the invoice information for negotiations, but I wonder if this trade in situation would be a detriment to me when haggling the price. I'm also going to be a bit picky on what 2010 I get (color, MT, etc) and I'm going to be willing to travel to find a deal. But if I can't find a deal, I'll be willing to order a 2011. Do these invoice negotiations also apply to when you order a car?

Also would love to hear tips on how not to get royally screwed over in this scenario.

I appreciate any and all help. I apologize if my questions are obvious; I'm still a newb.

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Saving up now for a NISMO 40th Anniversary. Hopefully. Maybe. We'll see. Definitely a Z though.