Question about down payment

krnbbagadog · 03-22-2011, 06:29 AM

I am planning to buy new Z tourning navi

guessing OTD price would be $36k

So is it possible if i put down for 5K as down payment?

and it will be 60 month with excellent credit score around 740.

m4a1mustang · 03-22-2011, 08:02 AM

You can put down whatever you want, or put down nothing at all. It all is up to you.

kenchan · 03-22-2011, 08:02 AM

I see why not. Your apr will probably be higher. Btw, excellent scores are over 835..

m4a1mustang · 03-22-2011, 08:03 AM

Agreed. mid-high 700s is "good"

cossie1600 · 03-22-2011, 09:39 AM

Mid 700s is tier 1 with NMAC

BrianMSmith · 03-22-2011, 09:54 PM

Speak English people. It's also very useful to be financially literate before you spend $36k.

definitionxmk · 03-22-2011, 10:19 PM

Whatever you put down, make sure you can cover the monthly payments.

HitokiriShagg · 03-26-2011, 01:16 AM

Depends on what kind of income you bring home. You shouldn't really go over 10% of your total income on your car payment. If 5k down will get you into that zone then hell knock yourself out. Just remember the 370z will probably raise your insurance rates along with having high gas expenses. Tires need replacing probably every 20-30k miles if you are lucky. You probably will see about 1k or possibly more the more you enjoy it.

mark_taba85 · 03-27-2011, 04:57 PM

you can put down whatever you want!

just don't buy something you can't afford

good luck.

I have a 765 and I don't feel it is excellent!

alb84z31t · 03-27-2011, 05:05 PM

Quote:

Originally Posted by kenchan

I see why not. Your apr will probably be higher. Btw, excellent scores are over 835..

Actually once you hit 720, you already get best rates. Everything after that is just gravy.

Nismo89 · 03-27-2011, 11:34 PM

one of the 3 dealerships im currently talking to now, i filled out a form for everything so they could find out my credit score exc... whether id qualify and they immediately returned with an email..... saying (this is the exact email..)

" your car buying score was around 750. Its a little different then your actual credit score, basically it means we'll have no trouble getting you approved for a top tier loan, we cannot send it out to a bank without actually having you here to sign the form"

Red__Zed · 03-27-2011, 11:48 PM

Quote:

Originally Posted by kenchan

I see why not. Your apr will probably be higher. Btw, excellent scores are over 835..

Actually, credit scores only go up to 835....

shadoquad · 03-28-2011, 03:26 PM

Quote:

Originally Posted by Red__Zed

Actually, credit scores only go up to 835....

Not mine.

Mr&Mrs · 03-28-2011, 03:50 PM

Down payment all depends on what you want your monthly payment to be. You don't have to put down anything like many have said. I didnt want my payment over 400 dollars a month so I had to put quite a bit down.

shadoquad · 03-28-2011, 03:52 PM

Quote:

Originally Posted by Mr&Mrs

Down payment all depends on what you want your monthly payment to be. You don't have to put down anything like many have said. I didnt want my payment over 400 dollars a month so I had to put quite a bit down.

It also depends on how much you want to save on the price of the car, versus how much you want to keep in the bank over the term of the loan.

If you put down a larger DP, you will pay less interest at a fixed rate, but you'll have less immediately available.

03-22-2011, 06:29 AM	#1 (permalink)
krnbbagadog Base Member Join Date: Dec 2010 Location: cherry hill Posts: 24 Drives: 11 nissan 370z Rep Power: 14	Question about down payment I am planning to buy new Z tourning navi guessing OTD price would be $36k So is it possible if i put down for 5K as down payment? and it will be 60 month with excellent credit score around 740.

03-22-2011, 08:02 AM	#2 (permalink)
m4a1mustang A True Z Fanatic Join Date: Feb 2009 Location: Northern VA Posts: 55,385 Drives: on two wheels Rep Power: 6962	You can put down whatever you want, or put down nothing at all. It all is up to you. __________________ - Steve Zs & Coffee - Saturdays at 10AM in Fairfax, VA and Columbia, MD (Click the banner!) LIKE us on Facebook!

03-22-2011, 08:03 AM	#4 (permalink)
m4a1mustang A True Z Fanatic Join Date: Feb 2009 Location: Northern VA Posts: 55,385 Drives: on two wheels Rep Power: 6962	Agreed. mid-high 700s is "good" __________________ - Steve Zs & Coffee - Saturdays at 10AM in Fairfax, VA and Columbia, MD (Click the banner!) LIKE us on Facebook!

03-22-2011, 10:19 PM	#7 (permalink)
definitionxmk Track Member Join Date: Jul 2009 Location: Los Angeles CA Posts: 973 Drives: Stage 2 SC 370Z Rep Power: 17	Whatever you put down, make sure you can cover the monthly payments. __________________ *FALKEN . AMUSE . STANCE . INVIDIA . MINES . TOMMY KAIRA . BRIDE . VOLK RACING . GTM* Featured in DSPORT issue #137 - Follow me on Instagram: @definitionxmk

03-27-2011, 04:57 PM	#9 (permalink)
mark_taba85 Base Member Join Date: Dec 2010 Location: Fort Campbell, KY Posts: 197 Drives: future buyer Rep Power: 14	you can put down whatever you want! just don't buy something you can't afford good luck. I have a 765 and I don't feel it is excellent! __________________ "Once you go ASIAN, there is no other persuASIAN"

03-22-2011, 08:02 AM	#3 (permalink)
kenchan A True Z Fanatic Join Date: Aug 2009 Location: N/A Posts: 76,801 Drives: N/A Rep Power: 141521	I see why not. Your apr will probably be higher. Btw, excellent scores are over 835..

03-22-2011, 09:39 AM	#5 (permalink)
cossie1600 A True Z Fanatic Join Date: Jun 2009 Location: californee way Posts: 5,380 Drives: 370, Leaf Rep Power: 30	Mid 700s is tier 1 with NMAC

03-22-2011, 09:54 PM	#6 (permalink)
BrianMSmith Enthusiast Member Join Date: Dec 2009 Location: secret Posts: 267 Drives: 370Z, Ducati 748S Rep Power: 15	Speak English people. It's also very useful to be financially literate before you spend $36k.

03-26-2011, 01:16 AM	#8 (permalink)
HitokiriShagg Base Member Join Date: Nov 2010 Location: Orlando, FL Posts: 39 Drives: 2010 370z Nismo Rep Power: 15	Depends on what kind of income you bring home. You shouldn't really go over 10% of your total income on your car payment. If 5k down will get you into that zone then hell knock yourself out. Just remember the 370z will probably raise your insurance rates along with having high gas expenses. Tires need replacing probably every 20-30k miles if you are lucky. You probably will see about 1k or possibly more the more you enjoy it.

03-27-2011, 11:34 PM	#11 (permalink)
Nismo89 A True Z Fanatic Join Date: Mar 2011 Location: Colora, MD Age: 35 Posts: 15,831 Drives: daily Zen and woosah Rep Power: 37386	one of the 3 dealerships im currently talking to now, i filled out a form for everything so they could find out my credit score exc... whether id qualify and they immediately returned with an email..... saying (this is the exact email..) " your car buying score was around 750. Its a little different then your actual credit score, basically it means we'll have no trouble getting you approved for a top tier loan, we cannot send it out to a bank without actually having you here to sign the form"

03-28-2011, 03:50 PM	#14 (permalink)
Mr&Mrs A True Z Fanatic Join Date: May 2010 Location: Tampa Posts: 4,207 Drives: RZ34 Rep Power: 31940	Down payment all depends on what you want your monthly payment to be. You don't have to put down anything like many have said. I didnt want my payment over 400 dollars a month so I had to put quite a bit down.

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