Down payment
 

Did anyone not put a down payment when buying this car?

You're foolish not to. Without a down payment you are instantly upside down on your loan, meaning you owe more than the car is worth. Very bad from financial perspective.

Just lease then. It makes unaffordable cars affordable to those who can least afford them...:tup:

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@ OP, If you can't afford the down payment you probably can't afford the car. If you feel that you can, just take a month or two to save up a hefty amount to put down. You won't regret it.

I've never put money down on any car. Mind you I have always bought Hondas and this is my first Nissan. But if you don't finance for 8 years by the time you're ready to get rid of the car in 2-3 years you'll be about even. And gap insurance is there if you total the thing.

At that point you're basically just leasing. Different name, same payment.

I put money down, but it didn't go toward the Z. It went to pay off my trade which I was upside down on.

It is nice to put some money down if you can, but it's not a requirement. Just remember if you don't plan on keeping the car that long then you will be putting up that cash at sometime. It's either when you buy it, or when you get rid of it.

But financing a $30k car with no money down will yield you payments of about $700 a month (48mos)! Put down a few g's and you can reduce that significantly and pay a lot less in interest...

100% down. No interest. No payment plan. Only way to go.

Always put money down as stated above from a financial point of view.

I put down 50%. 20k to be exact

I pay 1000/mo because I can afford to do so, regardless of what the payments would be. I don't put money down on a car, because I always pay much more than I need to each month, and will pay the car off in 2-3 years anyway, not in 5.

^ Smart man!

If you can afford it get it over with asap! Many people do every other month a double payment.

500 one month. 1000 the next. then 500 again. 1000 the next.

Other then that. They (not sure who but they) recomend putting down at least 30% down.

If not then think of it this way. Every 1000 you put down is baiscally $20 less a month. Depending on how many yeasrs Im assuming. I never did the math.

Just lease it then. It sounds like you're one of those people who 'go through' cars every few years.

No, I'm one of those people who bought a car, and figured out he didn't like it a few years later.

Yes, if you pay a lot per month, it really does kill your monthly payments down. With my current loan, it started out at 500/mo, and now the requirement is down to 300/mo. It also puts you ahead on your payments. I'm 6 months ahead on my payments. If I log onto my loan account, it shows I don't need to make a payment for 6 months.

Kind of a nice buffer in this economy, to have 6 months of time on your loan.

My downpayment was 12,500.....my paid off 04 350z. :tiphat:

I am right out of college, Im not going to put a down payment, why? Because i aint gots no money in the bank! I wont get my first paycheck until september 25th, if you have graduated in the last 2 years or you can prove you will graduate within the next 6 months or something you can delay payments for 90 days! I think a litttttle bit of interest piles up, but oh well :D

Is is better off to pay the dealer the payment through credit card than through cash or check, right?

^^ it doesnt make a difference as long as your paying the dealer on time. I'd personally do direct deposit or check, because both ways you have proof, if you do credit card, and pay it off at the end of the money, its a good way to build credit as well.

Unless your talking about down payment BEFORE you receive the car, then Credit card is a nice way to dispute if they don't follow through their end or whatever.

I see, thanks.

I'll put down somewhere in the vicinity of 10-15k when I make the purchase, depending on what interest rate I end up with. :D

I just pay cash for the lowest price a dealership is willing to sell the vehicle for.

i personally put down 20-30% of the price.. even if i can buy it all at once..

its an easy way to work on credit..

i just put all the money into a savings account and do a direct deposit kinda thing.. with payments atleast twice as much as the minimum.. thats what i do.. and thats been working perfect for me.