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Originally Posted by TreeSemdyZee I tend to be blatant, so thank you. I just tend to think that "being able to afford" and "being able to finance" have gotten confused.
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10-09-2010, 05:04 PM
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#1 (permalink) | |
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A True Z Fanatic
Join Date: Jun 2010
Location: SWMO
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Quote:
Finance=downpayment. Financing is cheaper, when you weigh interest-rates against deflation and how long it would take to save $40K. With the low APR's you can get, why throw money away saving it and fighting inflation? Not only that, but you delay a cheaper gratification in favor of a more expensive one. Last edited by ImportConvert; 10-09-2010 at 05:07 PM. |
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10-09-2010, 10:08 PM
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#2 (permalink) | |
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A True Z Fanatic
Join Date: Jul 2010
Location: window seat
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Quote:
I think it's ok to finance, but putting down like 3-5k on a 40,000 dollar car is not enough... I personally pay cash for everything I buy, but I'm kinda weird like that. |
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10-09-2010, 11:35 PM
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#3 (permalink) |
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Base Member
Join Date: Apr 2009
Location: Yuma, AZ
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Never 2 old
Go for it. I'm 55, last summer I sold my pristine Porsche 911 Targa that I owned for the last 8 years and bought a 370Z Nismo. I couldn't be happier I love everything about the Z.
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10-10-2010, 08:46 AM
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#4 (permalink) | |
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A True Z Fanatic
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Quote:
 interest rates are so low, that unless you would otherwise have the cash you would put into your Z wisely invested (and lets face it a lot of people are just staying in cash right now because of the volatility in the market), you're not going to be earning much on it. The idea of holding onto the cash and eaerning <1% on it in a savings account and taking on a loan for 4%-5%+ doesn't seem to make financial sense.
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10-10-2010, 08:54 AM
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#5 (permalink) | |
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A True Z Fanatic
Join Date: Jun 2010
Location: SWMO
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Rep Power: 7628 |
Quote:
I think 20% down including TTL on invoice price is good to go. My bank agrees. I wish I could afford to buy stuff all cash, but I am 24 and not established in life. I would rather get hosed for $5-8K on interest financing my car and then have bullet credit from making consistant payments for 72mo so that when I buy a house I am looking at a much larger savings because I bit the bullet on the car payment, soaked up the 5-8K interest, and got a GREAT APR on the house/land because of it. Further, if I bite the bullet on a new Z06, pay it off, by then the C7 Z06 will be otu for 2-3 years and be refined, and I can trade in the C6, and walk out with a 20-30K note on the C7Z. I end up paying peanuts for a car-note on a C7Z, finance for a short period of time, wash, rinse, repeat until I am down to trading in every 2 years and not hurting myself at all hardly with something like a $2-300 note on it each time. It's getting STARTED in life that is so expensive. |
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