Who REALLY owns their Z???

onzedge · 05-15-2013, 05:47 AM

Quote:

Originally Posted by Nailzs

Put cash down and Social Security is gonna pay the rest. Sometimes it good to be old

birdmanx1 · 05-15-2013, 07:09 AM

Quote:

Originally Posted by zeeder

Mine is financed at 2.9% for 72 months and I'm about to make my first payment in a few days...lol. It's going to be a long, but hopefully extremely enjoyable, six years! That said, the plan is to keep it for 10+ years though no one knows what the future holds.

Not to knock on you brother, I tend to cringe when I read about 5+ year repayments. By the time you get interests on the 6 yrs and whatever value the car would have remaining should you decide to sell ...

Quote:

Originally Posted by ocfoilist

Just paid it off this month - now I can divert the payment towards my newborn's college fund...

Congrats on the newborn and on such awesome plan. Nothing like knowing there won't any worries about how to cover college for the kid when comes the time.

Are you doing 529? I am staying away from it and doing with something else.

JARblue · 05-15-2013, 07:17 AM

Quote:

Originally Posted by birdmanx1

Not to knock on you brother, I tend to cringe when I read about 5+ year repayments. By the time you get interests on the 6 yrs and whatever value the car would have remaining should you decide to sell ...

On our new 2011, we actually did a 7 year loan to get the payments below $400/month. But because of some extra work I do on the side, I usually get a couple of large checks each year, so I put a large chunk of each towards the car whenever we get them. We'll have it paid off in less than 5 years, or maybe even 4 years. Btw, I had to negotiate pretty hard with the bank to ensure that paying the loan off early would not result in a penalty (because they don't get all their interest - the loan is not through Nissan). This way, for me, it is like I put down an additional $10K at the initial purchase, but instead it is lumped into the loan and I don't have to pay interest on it if I pay it off the car early enough

fonzo179 · 05-15-2013, 10:46 AM

Quote:

Originally Posted by JARblue

But because of some extra work I do on the side, I usually get a couple of large checks each year, so I put a large chunk of each towards the car whenever we get them...

lol Mob Boss??? Ooohh, now that I think about it, I haven't paid my Z Car Mafia dues

(places suitcase full of money on the ground and leaves quietly)

zeeder · 05-15-2013, 10:26 AM

Quote:

Originally Posted by birdmanx1

Not to knock on you brother, I tend to cringe when I read about 5+ year repayments. By the time you get interests on the 6 yrs and whatever value the car would have remaining should you decide to sell ...

I definitely understand where you're coming from and I agree with you. I've consoled myself with the fact that it's only at 2.9% APR and the total interest over the six years will be less than 10% of the total cost of the car.

ocfoilist · 05-20-2013, 12:53 AM

Quote:

Congrats on the newborn and on such awesome plan. Nothing like knowing there won't any worries about how to cover college for the kid when comes the time.

Are you doing 529? I am staying away from it and doing with something else.

Yes, we decided to go with the 529. It's got decent outs for various possibilities such as scholarships and such. There is a limit to schools outside of the US but it can also be applied to grad school. It can also be transferred to another family member, which I wasn't originally aware of.

birdmanx1 · 05-20-2013, 01:36 PM

Quote:

Originally Posted by Tigger

As long as the City of Virginia Beach keeps charging personal property tax I'll never actually own my Z even if it is paid off. What a scam.

I'm not sure I follow.

Quote:

Originally Posted by ocfoilist

Yes, we decided to go with the 529. It's got decent outs for various possibilities such as scholarships and such. There is a limit to schools outside of the US but it can also be applied to grad school. It can also be transferred to another family member, which I wasn't originally aware of.

Ah got it boss. I opted for individual stocks, mutual funds, buying property as college planning alternative. Got some decent returns on the stocks. An older friend of mine spooked me by the amount of money his 529 lost in the midst of the crisis right when his kid was set to start college.

Infidel · 05-15-2013, 05:59 AM

$36,400 OTD
$17K down
2.9% for 72 months
Paying extra every month

birdmanx1 · 05-15-2013, 07:55 AM

Great deal man, whichever process works for you to get out of it early

JARblue · 05-15-2013, 09:52 AM

Quote:

Originally Posted by birdmanx1

Great deal man, whichever process works for you to get out of it early

That's the goal

ChrisDorgan · 05-15-2013, 10:23 AM

I put my BMW diesel 3 series in as deposit for £9000 and am paying mine of monthly for 3 years. Hello by the way everyone, I'm Chris - 27 - UK & really enjoying the 370z, the clunky sounding gear box took a bit of getting used to and so did the road noise, but nothing makes you smile more than that low burble just before you give it beans on your way to work haha. Bought mine in April

UNKNOWN_370 · 05-15-2013, 12:26 PM

Will pay off by end of this year. Hopefully after this i might get a z35,

If the Z35 is a huge improvement? i will sell or trade the Z. If its a mild improvement? I will keep this Z and buy a muscle car, (Next gen camaro or Vette??)

zeeder · 05-15-2013, 12:27 PM

Quote:

Originally Posted by UNKNOWN_370

or Vette??)

The C7 Stingray does look pretty sweet to my eye!

zak's z · 05-15-2013, 12:44 PM

I got my 09 touring 6MT a few weeks ago, was able to pay cash for most of it and hopefully will have the rest paid by the end of summer.

KERMIT · 05-15-2013, 06:15 PM

0% interest loan. I'd be crazy to pay it off! My money is invested where it will make me more money!

BTW, the stock market has been very good to me this year

05-15-2013, 07:55 AM	#9 (permalink)
birdmanx1 A True Z Fanatic Join Date: Jun 2010 Location: Baltimore, MD Age: 96 Posts: 3,175 Drives: 370z Nismo Rep Power: 25	Great deal man, whichever process works for you to get out of it early __________________ 370Z NISMO #0462 \| ClearBra \| 3M tint \| Head/Taillights \| Dynamat \| Black Roof \| Tommy Kaira HB \| CF Parts \| Berk HFCs \| FI SS \| NST Pulleys \| Takeda aFe \| K&N \| H&R Spacers \| Swift Spec R \| SPC F&R \| Zuperman M370 Nismo Vid \| Nismo Journal \| Nismo Rumble

05-15-2013, 12:26 PM	#12 (permalink)
UNKNOWN_370 A True Z Fanatic Join Date: Jul 2009 Location: ny'r livn in tx Posts: 8,687 Drives: well over 130m.p.h. Rep Power: 14858	Will pay off by end of this year. Hopefully after this i might get a z35, If the Z35 is a huge improvement? i will sell or trade the Z. If its a mild improvement? I will keep this Z and buy a muscle car, (Next gen camaro or Vette??) __________________ Favorite Quote. "I'm not gonna kill you... I'm just gonna Bash Your Face In" Jack Nicholson-"The Shining". 1980

05-15-2013, 06:15 PM	#15 (permalink)
KERMIT Enthusiast Member Join Date: Apr 2012 Location: Republic of Wadiya Posts: 301 Drives: Ms. Daisy Rep Power: 14	0% interest loan. I'd be crazy to pay it off! My money is invested where it will make me more money! BTW, the stock market has been very good to me this year IMWEZL, DEpointfive0 and MarkGideon like this. __________________ Steering wheel with Z emblem, keyless entry, 3.7L with dual overhead cams, am/fm radio, ABS brakes, windshield, air in tires

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05-15-2013, 05:59 AM	#8 (permalink)
Infidel Enthusiast Member Join Date: Mar 2013 Location: Central Florida Posts: 457 Drives: 2013 GM 6MT Rep Power: 15	$36,400 OTD $17K down 2.9% for 72 months Paying extra every month

05-15-2013, 10:23 AM	#11 (permalink)
ChrisDorgan Base Member Join Date: Apr 2013 Location: Liverpool Posts: 10 Drives: 2012 370z Silver MT Rep Power: 13	I put my BMW diesel 3 series in as deposit for £9000 and am paying mine of monthly for 3 years. Hello by the way everyone, I'm Chris - 27 - UK & really enjoying the 370z, the clunky sounding gear box took a bit of getting used to and so did the road noise, but nothing makes you smile more than that low burble just before you give it beans on your way to work haha. Bought mine in April

05-15-2013, 12:44 PM	#14 (permalink)
zak's z Base Member Join Date: Apr 2013 Location: Toronto, ON Posts: 12 Drives: 09 370Z 6MT Touring Rep Power: 13	I got my 09 touring 6MT a few weeks ago, was able to pay cash for most of it and hopefully will have the rest paid by the end of summer.