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-   -   Who REALLY owns their Z??? (http://www.the370z.com/nissan-370z-general-discussions/34302-who-really-owns-their-z.html)

speedworks 04-06-2011 07:12 PM

full owner here.

mjohn617 04-06-2011 08:39 PM

...Paid in full...

Brazilbro 04-06-2011 10:41 PM

trade in took me into the low 20k range then paid off within a year.
Turbo I bought on CC then paid off in 3 months. :driving:

KillerBee370 04-06-2011 10:57 PM

Nobody does. Check your vehicle title and it says "abstract". The government owns everyones vehicles. :D

ImportConvert 04-07-2011 12:17 AM

Quote:

Originally Posted by OldGuy (Post 1036978)
Paid cash for mine. Wouldn't have bought it otherwise.
Interesting question is how many of those who financed are upside down.

This is why GAP and free new car replacement (total the car within 3 years and they buy you a brand new one) are a "must" for me on my insurance policy. Also got GAP through my financing agency incase, God forbid, something with the insurance company goes wrong somehow.

I had a teacher in high school who's son had a new (then) '03 Cobra, and the insurance lapsed on Friday, he was going to re-up his policy on Monday. Car was hit Saturday (hit/run). Luckily, only $1200 or so in damage, but it's a good lesson. GAP, GAP, and more GAP, if you are anywhere near even/upside down. Even if not. GAP. It's cheap.

FL 4Motion 04-07-2011 12:32 AM

Quote:

Originally Posted by Shamu (Post 1037333)
Put $10 K down and financed the rest as I like flexibility with my money. I have some much higher returns with my liquid assets than my very low interest rate.. No need to tie them up in the car.

Quote:

Originally Posted by ImportConvert (Post 1037884)
This is why GAP and free new car replacement (total the car within 3 years and they buy you a brand new one) are a "must" for me on my insurance policy. Also got GAP through my financing agency incase, God forbid, something with the insurance company goes wrong somehow.

I had a teacher in high school who's son had a new (then) '03 Cobra, and the insurance lapsed on Friday, he was going to re-up his policy on Monday. Car was hit Saturday (hit/run). Luckily, only $1200 or so in damage, but it's a good lesson. GAP, GAP, and more GAP, if you are anywhere near even/upside down. Even if not. GAP. It's cheap.


/\ +1 to both these gents replies. :tup:

destinyZ 04-07-2011 03:23 AM

lol, i feel broke with all these ppl throwin cash at the dealers like they grow it in their back yard.

Im not upside down at all...and its no where near paid off. Somewhere in the middle.

for those who are upside down, you need to fix that ASAP. it is not a good position to be in at all.

ImportConvert 04-07-2011 03:43 AM

Quote:

Originally Posted by destinyZ (Post 1038006)
lol, i feel broke with all these ppl throwin cash at the dealers like they grow it in their back yard.

Im not upside down at all...and its no where near paid off. Somewhere in the middle.

for those who are upside down, you need to fix that ASAP. it is not a good position to be in at all.

It's not a bad one either, really, if you like the car and plan on keeping it and were smart enough to get GAP for it.

The money was obviously less important to the purchaser than the joy of owning the car. What someone else thinks the car is worth should not have any bearing on issues unless the owner decides they don't like the car anymore, or were stupid/ignorant and didn't buy GAP and get in a wreck.

destinyZ 04-07-2011 04:03 AM

Quote:

Originally Posted by ImportConvert (Post 1038013)
It's not a bad one either, really, if you like the car and plan on keeping it and were smart enough to get GAP for it.

The money was obviously less important to the purchaser than the joy of owning the car. What someone else thinks the car is worth should not have any bearing on issues unless the owner decides they don't like the car anymore, or were stupid/ignorant and didn't buy GAP and get in a wreck.

Yes for GAP!

I see what your saying, i personally wont do it again.

I had it for my last car and i have it for the Z. My last car was hit by someone doing something really stupid and GAP didnt cover outside the U.S. even though im in a U.S. territory...sucks for me right. Its all good, free up my credit to purchase this car because I was upside down on the last car. NEVER will i do that again, roll over on a trade in is a BI@H.

Kev T 04-07-2011 04:23 AM

cash here also

USINC97 04-07-2011 05:15 AM

The wife owns ours.

FricFrac 04-07-2011 05:18 AM

I own all five of my Z cars but I had to wait a long time until I could afford any of them - I've wanted a new Z car for 21 years but couldn't afford it so I held out until I could.

KillerBee370 04-07-2011 08:50 AM

Quote:

Originally Posted by USINC97 (Post 1038026)
The wife owns ours.

The wife really owns everything doesn't she? Paid for or not!

Mt Tam I am 04-07-2011 09:08 AM

Quote:

Originally Posted by KillerBee370 (Post 1038146)
The wife really owns everything doesn't she? Paid for or not!

Not at my house. I have both Fobs.

Paid for Z in full, and saved $7400 off sticker. I even retained my social security number, and refused to give it to dealership.

onzedge 04-07-2011 09:32 AM

Quote:

Originally Posted by Mt Tam I am (Post 1038194)
Not at my house. I have both Fobs.

Paid for Z in full, and saved $7400 off sticker. I even retained my social security number, and refused to give it to dealership.

Nice.

Red__Zed 04-07-2011 09:37 AM

Quote:

Originally Posted by KillerBee370 (Post 1038146)
The wife really owns everything doesn't she? Paid for or not!

Not sure whether to :icon18: or :shakes head:.

bloodo 04-07-2011 09:58 AM

Paid off within a year.

Calvin 04-07-2011 10:41 AM

Mine is paid in full xP

Horseface 04-07-2011 12:28 PM

I pulled out my checkbook out and paid in full before I drove off the lot.

Why?

Because:

http://www.youtube.com/watch?v=http://www.youtube.com/watch?v=6_9blTxwFeA

I got cash in f**k you quantity.

dAvenue 04-07-2011 12:34 PM

Paid in full, playa.

I am 29.

hansoac 04-07-2011 01:11 PM

Paid for my Koenigsegg in cash
Financed the Z.
:happydance:

sonic370 04-07-2011 07:40 PM

by the look of most of the answers meaning paid cash,or paid off.

question should be what is the average yearly income of the forum members.....

oh paid half down needed the good payment history on credit report...

and i do believe in gap insurance... it is the only extra i will go for with the finance manager. the rest of the crap they can keep its just a rip off

cptspeed 04-07-2011 08:10 PM

^^More like net worth?

Ish 04-10-2011 05:25 AM

Quote:

Originally Posted by DrEvil (Post 1036178)
After 4 yaers of college, 4 years evil medical school, 3 years of evil residency and 25 years in practice, I got my Z.:stirthepot:

Is it an evil practice?

I can buy one outright by December if I start saving right now, but because I work overseas as a defense contractor, it is damn near impossible to get leave that time of year because everybody & their mother wants to be home for the holidays.

I'm also looking at boosting my credit scores (just not a huge credit user) to try & get out of this "starter home" & into a nicer house in a nicer neighborhood, so a friend of suggested that instead of buying outright, finance a portion of it, & pay it off over the next 12 months which should boost my scores.

If I go that route, I'll also have the time & $$ handy to get the clear bra installed, some new headlights (love those 180 halo mods for it), rear fog light, & some Michelin Sport A/S+ (it will be winter after all). Downside, it will be sitting in the garage for about a year before I'm home for good, & thats a year gone from the warranty.

ImportConvert 04-10-2011 07:49 AM

Quote:

Originally Posted by Ish (Post 1044753)
Is it an evil practice?

I can buy one outright by December if I start saving right now, but because I work overseas as a defense contractor, it is damn near impossible to get leave that time of year because everybody & their mother wants to be home for the holidays.

I'm also looking at boosting my credit scores (just not a huge credit user) to try & get out of this "starter home" & into a nicer house in a nicer neighborhood, so a friend of suggested that instead of buying outright, finance a portion of it, & pay it off over the next 12 months which should boost my scores.

If I go that route, I'll also have the time & $$ handy to get the clear bra installed, some new headlights (love those 180 halo mods for it), rear fog light, & some Michelin Sport A/S+ (it will be winter after all). Downside, it will be sitting in the garage for about a year before I'm home for good, & thats a year gone from the warranty.

Just don't buy a 2011, buy a 2012 or 2013. Nissan might come out with a new shade of gray that is more to your liking.

Ghost 04-10-2011 03:09 PM

If you get a hell of an interest rate, then you should finance, otherwise pay it in full if you can.

Ish 04-10-2011 09:09 PM

Quote:

Originally Posted by ImportConvert (Post 1044779)
Just don't buy a 2011, buy a 2012 or 2013. Nissan might come out with a new shade of gray that is more to your liking.

I bank with USAA (not a real well known bank outside of the military), & they quoted 3.39 to 3.79 for a 48 month loan on 18K.

I'm not a fan of gray at all. Pearl white for me, with red next. Might even consider Chicane Yellow if it ever became available again.

Doug&Michelle 04-10-2011 11:44 PM

Don't own it yet but it is my ONLY debt. Paid for house and no other debt of any kind. :happydance:

ZForce 04-11-2011 12:26 AM

Quote:

Originally Posted by 6MT (Post 1036215)
Cash on the barrel-head. 100% paid on delivery.

Ditto here! :tup:

Nitrouz 04-11-2011 12:36 AM

cash

chops 04-11-2011 12:44 AM

Quote:

Originally Posted by Ghost (Post 1045329)
If you get a hell of an interest rate, then you should finance, otherwise pay it in full if you can.

exactly. im relatively young, so while i could've paid it off in cash, i wrote a check for half and financed the rest at 2%. i figured...i need some sort of loan besides a few credit cards on my credit history. besides, in the end im paying one car payment's worth of interest and its only been 6 months. i'll have the loan payed off shortly!

docaam 04-11-2011 01:20 AM

Cash as bought from US so had no other option, else they wouldnt ship it lol

billydsz 04-11-2011 09:43 AM

Wrote a check for mine. Paid in full. The only advantage to being over 50 is you've been around long enough to gather some cash in the bank...

shadow2k 04-11-2011 10:07 AM

If you can get good rates, paying in cash is just...wasteful.

I actually just refi'd my Z, just because I could get a lower rate. Low enough to make me actually cash out $5k of what I'd already paid. My loan is now more $5k higher, and a couple months longer...but my payments are the same and my $5k check should arrive today.

I mean, come on...if you want to give me cheap loans, I'll take it every day of the week. At the very least, even if I were horrible with money, I'd put that $5k towards my mortgage, which has a higher interest rate of 3.75 fixed.

I understand the no debt mentatily, I used to be a cash only type of guy, but I learned something a while ago. Not all debt is bad. Certain types of debt can give you access to capital, which is how business (and you) can make money. I'm actually getting ready to take a $15k cash advance on a credit card. I'l pay 10% interest for two days ($4-$5) while I balance transfer it with no fee to a 0% APR card for a year. $15k for one year, costs me $4...yes please. And if any of you are wondering, cash advance is from PSECU, and BT deal is from NFCU. I love credit unions!

billydsz 04-11-2011 10:29 AM

Quote:

Originally Posted by shadow2k (Post 1046579)
If you can get good rates, paying in cash is just...wasteful.

I actually just refi'd my Z, just because I could get a lower rate. Low enough to make me actually cash out $5k of what I'd already paid. My loan is now more $5k higher, and a couple months longer...but my payments are the same and my $5k check should arrive today.

I mean, come on...if you want to give me cheap loans, I'll take it every day of the week. At the very least, even if I were horrible with money, I'd put that $5k towards my mortgage, which has a higher interest rate of 3.75 fixed.

I understand the no debt mentatily, I used to be a cash only type of guy, but I learned something a while ago. Not all debt is bad. Certain types of debt can give you access to capital, which is how business (and you) can make money. I'm actually getting ready to take a $15k cash advance on a credit card. I'l pay 10% interest for two days ($4-$5) while I balance transfer it with no fee to a 0% APR card for a year. $15k for one year, costs me $4...yes please. And if any of you are wondering, cash advance is from PSECU, and BT deal is from NFCU. I love credit unions!

It really depends on if you need the money. If you write a check and it empties your bank account then it's a bad idea. If you write a check and don't notice the difference in your checking account then it's a good idea. :happydance:

JohnsZ 04-11-2011 12:22 PM

Ouch!!!
 
Quote:

Originally Posted by DrEvil (Post 1036178)
I paid more than half in cash and took a loan out for the rest. Don't have any debts, both kids out of college, so I figgered that I 'll pay it off before the year ends. Only owe <6k. After 4 yaers of college, 4 years evil medical school, 3 years of evil residency and 25 years in practice, I got my Z.:stirthepot:

I hope you don't live in the CT area....I sure wouldn't want Dr Evil examining me especially when checking the ole prostate! Sounds like you have an *** to grind! :nutswinger:

jazz 04-11-2011 12:56 PM

33 years old...payed in cash.

dAvenue 04-11-2011 02:00 PM

Quote:

Originally Posted by shadow2k (Post 1046579)
If you can get good rates, paying in cash is just...wasteful.

I actually just refi'd my Z, just because I could get a lower rate. Low enough to make me actually cash out $5k of what I'd already paid. My loan is now more $5k higher, and a couple months longer...but my payments are the same and my $5k check should arrive today.

I mean, come on...if you want to give me cheap loans, I'll take it every day of the week. At the very least, even if I were horrible with money, I'd put that $5k towards my mortgage, which has a higher interest rate of 3.75 fixed.

I understand the no debt mentatily, I used to be a cash only type of guy, but I learned something a while ago. Not all debt is bad. Certain types of debt can give you access to capital, which is how business (and you) can make money. I'm actually getting ready to take a $15k cash advance on a credit card. I'l pay 10% interest for two days ($4-$5) while I balance transfer it with no fee to a 0% APR card for a year. $15k for one year, costs me $4...yes please. And if any of you are wondering, cash advance is from PSECU, and BT deal is from NFCU. I love credit unions!

Not everyone falls in the same boat of needing to earn good credit. For those of us with excellent credit, it makes more financial sense to pay in cash and not throw money away on interest.

shadow2k 04-11-2011 05:07 PM

Quote:

Originally Posted by dAvenue (Post 1047114)
Not everyone falls in the same boat of needing to earn good credit. For those of us with excellent credit, it makes more financial sense to pay in cash and not throw money away on interest.

Not about earning credit. It's about earning money.

How do you think banks make money? They borrow it from you and pay you whatever..1-4% interest, depending on whether it's in your checking, savings, CD, etc... Then they loan it back out at a higher rate, or actually buy investments with larger returns.

I'd rather have 35k invested and making me money than a title to a depreciating asset.

wilsonp 04-11-2011 05:33 PM

Quote:

Originally Posted by shadow2k (Post 1047715)
Not about earning credit. It's about earning money.

How do you think banks make money? They borrow it from you and pay you whatever..1-4% interest, depending on whether it's in your checking, savings, CD, etc... Then they loan it back out at a higher rate, or actually buy investments with larger returns.

I'd rather have 35k invested and making me money than a title to a depreciating asset.

Assuming you have to use the 35K to payoff the loan, aren't you making a decreasing difference? How much can you actually make in the end?

And if you don't use the 35K to payoff the loan, you have to take into account that extra money you are putting into the loan instead of saving - how much would you have made saving that payment?


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