Age of 370Z owners?

ImportConvert

If you mean buying outright, I can agree. However, I would bet most people at age 25 are financing rather than paying cash.

Income usually reflects cost of living.

Where I live, I don't make all that much, but my appartment is only $405/mo and it's in a nice part of town near everything with low crime rates,etc.

Pelican170

Good point. When I talk about owning the car, i mean bought out and payed off, not just making payments.

ImportConvert

In that case, I don't know many people of any age who do that. Most everyone makes payments, the well-off/more established people just get a 0% rate during a sale/promo and make payments for the sake of boosting the hell out of their credit rating and because it's free money that eliminates the factor that is inflation and gives them more purchasing power. In effect, reducing the price of the car by roughly 10% over 5 years (assuming it would have taken 5 years to come up with the money, 5% if only 2.5 years) because of the toll inflation takes on money sitting in a bank at 1-3%.

Financing stuff at low/0% is smart. Credit cards are smart. Let OTHER people's money work for you as well as yours.

If you can afford to go pay cash for a car (without trading one in, as that is not saving up for it) like a 370Z in less than 1 year's time. Well, I find it odd that you are buying a 370Z instead of something with a prancing horse on the side of it or a shield on the front. But hey, to each their own, and you might have those in the garage, too!

Pelican170

I know many people who save to buy a car. It makes much more sense to do than paying interest rates. I understand the credit point you are trying to make but there are other ways to improve your credit, that will not cost you extra money such as interest charges, but as you mentioned, it will make your credit jump if you need it. In my area, there was no options to purchase these cars for 0% what so ever. I also looked at Porsche's, but the only ones i like are the higher models which would mean i would be making payments forever, and I just don't see the point in that myself. Id rather pay it off as quickly as possible and begin saving for the next big purchase down the road... it really all comes down to each individual and what they are capable of doing..

ImportConvert

I tried boosting my credit via cutting my credit/debt ratio, credit-card use/paying off, etc etc.

I gained a whopping 8 points in over half a year.

That just seemed slow to me, so I financed a car.

Pelican170

I understand your point. I just like to have the cash over the credit, but my credit isnt a problem so maybe my view would be different otherwise...

ImportConvert

If I had $70K laying around, believe me, I would have paid cash instead. Sadly, at age 25, that wasn't something I had to spend much time pondering, lol!