Should I pursue this deal?

frost · 02-04-2011, 11:16 PM

So, you will likely be paying $35k for the car, and then you're going to have all the extra stuff that cost money on top of it. GAP at the very least, but extended warranty, taxes, etc.

So let's say $37k? That's somewhere around $630-$730 per month, depending on how many years at a 7.0% interest rate.

frost · 02-04-2011, 11:17 PM

Quote:

Originally Posted by dal1307

That is an interesting new profile pic you have Frost LOL!

EazyD · 02-05-2011, 09:24 AM

Get a career job, save up, do the down payment. Don't forget about paying car insurance too! I wanted a Z all through college, graduated, and finally 3.5 years later I paid off student loans (its not "bad" debt to have) and got a 370 and am stable. If I didn't wait I would only have a 350z (2007) and in crazy debt haha

ZeeingAround · 02-05-2011, 09:41 AM

Chris, i am not sure how long you have had your 350 or why you owe that much on it. You really need sit with a financial counsler and get a realistic idea of what you want and what you need. iMO, you are better off spending just a little money fixing the dents and elbow grease getting that 350 looking good to sell outright, buying a cheap Accord for cash and save for a few years. Knock out the student loans and save, save save.
i hope you can get into a dave ramsey type mentality to pay cash for as much as possible. You could get yourself upside down in a hurry with a new z and something bad happens( accident, job loss, emergency travel) and you have no cash. my rule is to have 6 mo. Of expenses in cash for such emergencies. don't learn the hard way. Planning goes a long way.

kenchan · 02-05-2011, 10:12 AM

You're going to be paying near 600/ month if trade is 12k and car is still around 30k. This is based on 60 months payment with no money down. Hardly a good deal imho.... if you didn't owe anything on the 350 then its a deal.

daisuke149 · 02-05-2011, 10:53 AM

i dunno about you guys but i always got KBB trade value or higher when we trade in cars. just gotta keep pushing.

kbb value on my gto.. 9k. trade in - 11.5k

But as someone stated, dont even talk trade in. just negotiate on the 370z first. you should hopefully be able to bring that down to 30. And then after you settle that bring up a trade in and dont let them give you anything under 13. argue for 14k for it first and so then 13k seems like a compromise.

OTD you would end up around 32k

Guavazo · 02-05-2011, 10:59 AM

I think the OP is considering that hes already paying petty high monthly for the 350, and might as well get a new 370 with the same amount of payment.

NCSUPACK09 · 02-06-2011, 07:31 AM

Quote:

Originally Posted by Guavazo

I think the OP is considering that hes already paying petty high monthly for the 350, and might as well get a new 370 with the same amount of payment.

The problem is that it will not be the same payment (likely $700+/mo vs. $425/mo)

chrisray21 · 02-12-2011, 02:35 PM

Thanks guys for all the replies gonna just put some minor parts (exhaust, intake, etc.) on my 350 and keep her til she is paid off.

SkyZ · 02-12-2011, 11:40 PM

Quote:

Originally Posted by chrisray21

Thanks guys for all the replies gonna just put some minor parts (exhaust, intake, etc.) on my 350 and keep her til she is paid off.

thats a great idea. see u in like 1-2 years =]

Montez · 02-12-2011, 03:41 PM

Quote:

Originally Posted by Guavazo

I think the OP is considering that hes already paying petty high monthly for the 350, and might as well get a new 370 with the same amount of payment.

Thats what get tons of people into major debt.........they go in there just thinking about the monthly payment not looking at the big picture.....Interest rate, term of loan, neg equity applied to new loan etc etc.

Lemers · 02-05-2011, 11:12 AM

Here's my philosophy on cars. Now matter if you buy used or new the true value of a car is every mile you drive it after youve paid it off. So just realize that you will be starting over with the number of payments

SophiaZ · 02-12-2011, 03:00 PM

I wont be the one to tell you to not do it becuz of negative equity since Ive done it way too many times haha. But yea if you can afford it, do it. I pay $613 for a $41k loan with GAP ins...

SophiaZ · 02-12-2011, 03:01 PM

Ooops just seen your last post .

Montez · 02-12-2011, 03:45 PM

Also there lots of new Z's that have been sitting on dealers lots for a while that they will work with you on.. you will also probably get a a better Int rate on ne (If not you can more than likely get that price down on that car)......At least up here in Dallas they have and will deal on them.

02-05-2011, 09:24 AM	#3 (permalink)
EazyD A True Z Fanatic Join Date: Nov 2009 Location: Massachusetts, USA Posts: 1,211 Drives: 2010 6MT Sport pkg. Rep Power: 26	Get a career job, save up, do the down payment. Don't forget about paying car insurance too! I wanted a Z all through college, graduated, and finally 3.5 years later I paid off student loans (its not "bad" debt to have) and got a 370 and am stable. If I didn't wait I would only have a 350z (2007) and in crazy debt haha __________________ Pearl White 2010 370Z Sport, Stillen CBE, tint, K&N drop-in filters, GT-R start button, Kenwood DNX-6980 with backup cam, LED bulbs, Raceseng shift knob.

02-05-2011, 09:41 AM	#4 (permalink)
ZeeingAround A True Z Fanatic Join Date: Dec 2010 Location: Michigan Posts: 6,365 Drives: 3500 NVP 370Z-sold! Rep Power: 86624	Chris, i am not sure how long you have had your 350 or why you owe that much on it. You really need sit with a financial counsler and get a realistic idea of what you want and what you need. iMO, you are better off spending just a little money fixing the dents and elbow grease getting that 350 looking good to sell outright, buying a cheap Accord for cash and save for a few years. Knock out the student loans and save, save save. i hope you can get into a dave ramsey type mentality to pay cash for as much as possible. You could get yourself upside down in a hurry with a new z and something bad happens( accident, job loss, emergency travel) and you have no cash. my rule is to have 6 mo. Of expenses in cash for such emergencies. don't learn the hard way. Planning goes a long way. __________________ Get some roosters for eggs and Bulls for milk . Then you will see that gender matters. Especially at milking time. Last edited by ZeeingAround; 02-05-2011 at 12:15 PM.

02-05-2011, 11:12 AM	#12 (permalink)
Lemers A True Z Fanatic Join Date: Mar 2010 Location: Izmir, Turkey Posts: 15,371 Drives: 2012 Traverse LTZ Rep Power: 53	Here's my philosophy on cars. Now matter if you buy used or new the true value of a car is every mile you drive it after youve paid it off. So just realize that you will be starting over with the number of payments __________________ 2010 Black Cherry Touring/Sport/Nav Now - 2012 Travese LTZ until I leave for Turkey

02-12-2011, 03:45 PM	#15 (permalink)
Montez Track Member Join Date: Sep 2009 Location: Manhattan Beach, Ca Posts: 604 Drives: 16 LEX GS,09 Z,03Max Rep Power: 17	Also there lots of new Z's that have been sitting on dealers lots for a while that they will work with you on.. you will also probably get a a better Int rate on ne (If not you can more than likely get that price down on that car)......At least up here in Dallas they have and will deal on them. Last edited by Montez; 02-12-2011 at 03:56 PM.

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02-05-2011, 10:12 AM	#5 (permalink)
kenchan A True Z Fanatic Join Date: Aug 2009 Location: N/A Posts: 76,801 Drives: N/A Rep Power: 141521	You're going to be paying near 600/ month if trade is 12k and car is still around 30k. This is based on 60 months payment with no money down. Hardly a good deal imho.... if you didn't owe anything on the 350 then its a deal.

02-05-2011, 10:53 AM	#6 (permalink)
daisuke149 My *** is famous! Join Date: Mar 2010 Location: Alpharetta, GA Posts: 4,849 Drives: 2013 Boss 302 PW Rep Power: 32	i dunno about you guys but i always got KBB trade value or higher when we trade in cars. just gotta keep pushing. kbb value on my gto.. 9k. trade in - 11.5k But as someone stated, dont even talk trade in. just negotiate on the 370z first. you should hopefully be able to bring that down to 30. And then after you settle that bring up a trade in and dont let them give you anything under 13. argue for 14k for it first and so then 13k seems like a compromise. OTD you would end up around 32k

02-05-2011, 10:59 AM	#7 (permalink)
Guavazo Base Member Join Date: Oct 2010 Location: ME Posts: 61 Drives: 10 370Z PG+Sport 6MT Rep Power: 15	I think the OP is considering that hes already paying petty high monthly for the 350, and might as well get a new 370 with the same amount of payment.

02-12-2011, 02:35 PM	#9 (permalink)
chrisray21 Base Member Join Date: Dec 2008 Location: San Antonio, Tx Posts: 63 Drives: 04 Nissan 350z Auto Rep Power: 17	Thanks guys for all the replies gonna just put some minor parts (exhaust, intake, etc.) on my 350 and keep her til she is paid off.

02-12-2011, 03:00 PM	#13 (permalink)
SophiaZ A True Z Fanatic Join Date: Dec 2009 Location: South Jersey Posts: 1,466 Drives: 2020 50th anniv 7AT Rep Power: 6733	I wont be the one to tell you to not do it becuz of negative equity since Ive done it way too many times haha. But yea if you can afford it, do it. I pay $613 for a $41k loan with GAP ins...

02-12-2011, 03:01 PM	#14 (permalink)
SophiaZ A True Z Fanatic Join Date: Dec 2009 Location: South Jersey Posts: 1,466 Drives: 2020 50th anniv 7AT Rep Power: 6733	Ooops just seen your last post .