Should I pursue this deal?
 

So I currently own a 2004/AT DB 350z with 70,000 miles on it. Its a touring edition with nav and I was looking into to trading it in for a 2009/AT 370z I just spotted for sale.

The price on the 370z is 31,999. Its a PW with everything on it. Sport Pkg, Touring, and Nav with only 4,100 miles on it.

I currently owe 13,000 on my 04 with a monthly payment of 425.00 would this be a dumb trade?

Is there a ball park figure anyone can give me on how much my monthly payment would be?

Thanks guys

Ray

Not smart IMO. Trade-in value on KBB is ~$12,000 with all options selected. That means you would still owe $1k on the 350 loan + $32k for the 370 + TTL which would be somewhere around $35k total. Even getting 2.99% on a 5yr loan your payment would be $625/mo.

If you weren't going to lose ~$3,500 on your trade, maybe.

Ok thanks for you're opinion yea haven't made up my mind yet but I am thinking about it just wanted others opinions. Mainly if anyone has done this and had any regrets?

Try to sell the car outright

The problem with this statement is that it implies dealers actually give kbb trade in value.

He can, but by the time he does, that 370 will likely be gone. So don't sell it just for that car.

Haha...I was giving a best case scenario.

:bowrofl:

Ok thanks for the replies guys. Tomorrow im gonna head out and test drive the car to see if its worth the trade. Also to see if I can bring the price of the 09 down a little bit.

It's a 350 sell it anyways

Sure they will lower the price of the 09 ... by lowering what they give you for your 350 :stirthepot: I've purchased 19 cars, so I'm a bit cynical to their games.


Also, I still like the way my 350 handles when compared to my 370 :stirthepot: :stirthepot: :stirthepot:

Yea I love my 350 just have a lot of dings/dents everywhere and I just want something new. Every time I see a 370z it makes me want one more and more, just worried about the monthly payment.

+1 If you can find the right buyer then you can get more than any dealer will give you for trade.

if you want man i can give you a detailed break out of your going to be paying. best thing to do is go nagotiate on the 370 and if they ask if you have a trade tell them no. Then after you get a price they wont move on then be like me and my wife discused it and i think we will trade in the 350.
I advise you not to go into negative equity which means they add the remaining amount owed on the 350 to the 370 bill.
I worked at a dealership for 6 years so i know how to **** block all there fun little games

Do you have any money to put down?

That is an interesting new profile pic you have Frost LOL! You are right, anytime you trade they can play all kinds of games. Best to go in with a bottom line total, trade considered then deal from there. If they hit your mark then great, if not, WALK AWAY.

You are going to take a hit for a couple of grand if you do the Trade.
If you can afford it then go for it.

Ok I will take this into consideration when I go and talk to the dealership.

Thanks for the reply!!

Unfortunately no!!!

Yea thats what I am worried about not necessarily the hit but the monthly payment. I just graduated from college and my student loans are gonna have to be paid back shortly.

I just wanted to get something nice for myself!!

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.

In that case...
You are better off keeping the 350 for now. Best bet is save a down payment and get the amount you owe on the 350 down.
Also I would try and sell the 350 in the street. You will get a much better price.
Not likely a dealer will give you a good price on the Trade.

:icon18:

The problem you have then when you all of a sudden mention a trade is the dealer will give you less for the 350Z. I too worked at a dealership many, many moons ago. Bottom line: Dealerships are a business and need to make a profit. You won't outsmart them.

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

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.

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.

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

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.

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

Which they don't, they will make all type of excuses. They go by a Black Book that the prices are for cars that are bought at an auction.

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

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.

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...

Ooops just seen your last post .

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.

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.

:iagree:
I got my 09 last October and they took off $9,000.

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