How much did you put down on your Z

Red__Zed · 03-21-2011, 11:53 AM

Quote:

Originally Posted by onzedge

This is very true. For me, I hate paying interest that I don't need to pay if I can help it.

+1. Although, some of the deals they will offer you are worth taking. I took out a loan on the Subaru because I'm pretty sure I can beat the 1.9% interested rate they gave me, and a lot of companies are offering 0% interest.

Jeffblue · 03-21-2011, 11:56 AM

30k down

Financed 10.5k

kenchan · 03-21-2011, 11:58 AM

Quote:

Originally Posted by Econ

this is very true...

i only put 6k down being i am only 21 and just graduated college. I would rather use the excess funds for my house down payment.

I'm also banking on the interest from my portfolio (which i chose not to put down on car) exceeding the interest of my car loan.

if you look up there is always people with more money. doesnt matter. just know your boundaries and know your money. that's all that matters.

and i think car loans are a great way to build credit for your future mortgage.

houkouonchi · 03-21-2011, 12:10 PM

I had recently bought a house so didn't have a ton of spare cash. I got a pretty good interest rate of 3.5% so I only put 3k down on mine.

Jeffblue · 03-21-2011, 12:17 PM

Quote:

Originally Posted by kenchan

if you look up there is always people with more money. doesnt matter. just know your boundaries and know your money. that's all that matters.

and i think car loans are a great way to build credit for your future mortgage.

just make sure there is no cosigner. My dad cosigned on my my loan when i had an altima and then i got no credit. Didn't help that the stupid finance department put the loan in his name either

took like 8 months to get it switched.

houkouonchi · 03-21-2011, 12:31 PM

Quote:

Originally Posted by Jeffblue

just make sure there is no cosigner. My dad cosigned on my my loan when i had an altima and then i got no credit. Didn't help that the stupid finance department put the loan in his name either

took like 8 months to get it switched.

That is odd. My dad also co-signed with me on my subaru a bit under 5 years ago. It was because I was getting paid under the table although I ended up getting a full-time job later. Anyway my credit score in that 4 year period or so before I ended up buying my house and my 370Z went from around 680 to 800. I also had quite a few credit cards (never left a balance on them) so I figured part of that jump was for the car. The car-loan *did* show up on my credit report.

Econ · 03-21-2011, 12:31 PM

Quote:

Originally Posted by Jeffblue

just make sure there is no cosigner. My dad cosigned on my my loan when i had an altima and then i got no credit. Didn't help that the stupid finance department put the loan in his name either

took like 8 months to get it switched.

my father cosigned however the loan is under my name, and I am getting "credit" for it.

TheGreatOne · 03-21-2011, 12:50 PM

I put down 6K

I would have liked to put down more to make my payments less but oh wells. I sold my winter beater for the down payment.

Buying a car cash would be nice one of these days lol.

bflosabre91 · 03-21-2011, 12:55 PM

21k for me. financed 13k.

FromG2Z · 03-21-2011, 01:35 PM

Quote:

Originally Posted by kenchan

just know your boundaries and know your money. that's all that matters.

The above sums it up right there. Some people think car-buying is a waste of money. Then they turn around and spend 10k on a trip to Hawaii... so to each his own.

I personally don't believe in taking out loans unless it's

1) for a house (mortgage)

2) 0% financing. This way, I pay the minimum then invest the rest in stocks or Roth or other interest-gaining alternatives.

sheps58 · 03-21-2011, 01:39 PM

I put 5000.00 down on base 6 speed in Oct.However I Paid off 9000.00 since Oct.

NCSUPACK09 · 03-21-2011, 05:28 PM

Put 14k down

Baer383 · 03-21-2011, 05:36 PM

3K down equity in trade

sucasa · 03-21-2011, 05:43 PM

I am a big believer on having cash on hand, especially during bad economic times. Having that said, if you can afford to buy a car and finance it with the lowest interest possible, good idea. Or if you have so much cash on hand, that dropping 40K on a car is no problem, more power to you..

I just can't see myself dropping anything over 10K on a depreciating asset, because that's what cars are. if you qualify for 0% financing why not go for it, and save your cash..

I got my rate at 1.9% over 4 yrs w/ 5K down. I figure I can easily make the payments,s without unloading alot of cash upfront, got extended warranty as well, to minimize the financial impact of large repair, etc..

bleufiend · 03-21-2011, 06:09 PM

4000 down.

03-21-2011, 12:50 PM	#23 (permalink)
TheGreatOne A True Z Fanatic Join Date: Jan 2011 Location: Montreal, Canada Age: 46 Posts: 1,980 Drives: E60 BMW M5 Rep Power: 21	I put down 6K I would have liked to put down more to make my payments less but oh wells. I sold my winter beater for the down payment. Buying a car cash would be nice one of these days lol. __________________ 2017 SUBARU STI 2008 E60 M5 - SOLD 2010 40th Anniversary 370Z - SOLD (and missing her)

03-21-2011, 05:28 PM	#27 (permalink)
NCSUPACK09 Enthusiast Member Join Date: Jan 2010 Location: Somewhere Posts: 407 Drives: '10 370Z MB 6MT SP Rep Power: 15	Put 14k down __________________ 2010 Base 370z Magnetic Black 6MT SP Mods: Bone Stock

03-21-2011, 05:36 PM	#28 (permalink)
Baer383 A True Z Fanatic Join Date: Aug 2010 Location: Lawrenceville,Ga Posts: 4,293 Drives: My foot up your azz Rep Power: 29	3K down equity in trade __________________ 2013 ZL1 754 rwhp 747 rwtq

03-21-2011, 06:09 PM	#30 (permalink)
bleufiend Base Member Join Date: Jan 2011 Location: Miami, FL Posts: 200 Drives: 370z MB Spt/Tour 6sp Rep Power: 14	4000 down. __________________ Z34 owner formerly Z33. OZOC FTW.

03-21-2011, 11:56 AM	#17 (permalink)
Jeffblue A True Z Fanatic Join Date: Dec 2009 Location: NY Age: 36 Posts: 9,192 Drives: Z32TT & 335xi Coupe Rep Power: 37	30k down Financed 10.5k

03-21-2011, 12:10 PM	#19 (permalink)
houkouonchi Enthusiast Member Join Date: Jun 2010 Location: Ontario, California Posts: 440 Drives: '14 GT-R '10 M6 370z Rep Power: 14	I had recently bought a house so didn't have a ton of spare cash. I got a pretty good interest rate of 3.5% so I only put 3k down on mine.

03-21-2011, 12:55 PM	#24 (permalink)
bflosabre91 Base Member Join Date: Mar 2011 Location: na Posts: 114 Drives: car Rep Power: 14	21k for me. financed 13k.

03-21-2011, 01:39 PM	#26 (permalink)
sheps58 Base Member Join Date: Sep 2010 Location: Connecticut Posts: 102 Drives: 2010 370Z 6MT & 2004 Rep Power: 14	I put 5000.00 down on base 6 speed in Oct.However I Paid off 9000.00 since Oct.

03-21-2011, 05:43 PM	#29 (permalink)
sucasa Base Member Join Date: Jan 2011 Location: DC Posts: 156 Drives: 2010 370Z Rep Power: 14	I am a big believer on having cash on hand, especially during bad economic times. Having that said, if you can afford to buy a car and finance it with the lowest interest possible, good idea. Or if you have so much cash on hand, that dropping 40K on a car is no problem, more power to you.. I just can't see myself dropping anything over 10K on a depreciating asset, because that's what cars are. if you qualify for 0% financing why not go for it, and save your cash.. I got my rate at 1.9% over 4 yrs w/ 5K down. I figure I can easily make the payments,s without unloading alot of cash upfront, got extended warranty as well, to minimize the financial impact of large repair, etc..