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

olddudesrule 05-14-2013 01:30 PM
Paid cash. Sold the Z06, so I banked some extra too!

chknhawk 05-14-2013 01:57 PM
Check american express savings.. they also have competitive rates.

Quote:
Originally Posted by ImportConvert (Post 1264789)
Where to Find the Best Savings Rates - SmartMoney.com

Look at the bottom, and I promise you that's not all the banks doing 4%+. Look around.

Different banks run different "promos". what they do is offer great rates to attract customers so that they can lend more. Find a bank with a shitty checking interest rate, and they are going to be more happy to issue you a loan. Find a bank with a great checking interest rate, and vice-versa. Back in 2010, for example, my googling reveals that there was a bank in TX that was open to all TX residents that offered over 4% up to $25K. Currently, they have dropped down to 2%. Did you get in on that? Why not?

Well never fear, I did your homework for you just to prove to you and others that if you look around you can put your money to work for you: Interest Rates & Fees | Tyler - Longview - Kilgore | Texas - TX | BankTexas

There you go. 3.25% up to $10K. Open and available to YOU! But you know what? You probably won't do it anyway, so I'm wasting my time other than to prove to you what you're pissing away in interest with low rates.

kfull 05-14-2013 01:58 PM
Bought for 34.7k brand new, currently owe ~16.5k. Gettin there! 0%financing feels good though.

Wabbyyy 05-14-2013 02:30 PM
Dad payed it off same day :]

BigT 05-14-2013 03:19 PM
Quote:
Originally Posted by Wabbyyy (Post 2315570)
Dad payed it off same day :]
Thanks for being honest. Most of the other 20 something's in here that paid in cash forgot to mention that someone gave them the money. :ughdance:

I'm 27 and my car is financed. Payments are easy, credit score is nearly 800, but I need history. The only check I ever plan on writing that's $35k or larger is for a down payment on a house. I'm the "keep it in the bank as long as possible" kind of guy. I worked hard for that $35k. No sense in spending it right away when I can just pay for it little by little.

My next daily driver will be leased and I will buy something used that I can pay for in cash as a toy car. Sub 15k.

fonzo179 05-14-2013 03:44 PM
Quote:
Originally Posted by red6spd (Post 1036144)
Must be nice Daddy Warbucks LOL... I will own mine in a few years.
LMFAO Warbucks....I am 27, I still owe about 22K on my Z. I paid off my '07 Galant after I got back from Iraq, and traded it in for the Nissan.

I am pinching every penny (being single helps) :icon17: to pay it off as a Christmas gift to myself this year. USAA helped me finance it, and they are awesome with payment flexibility.

122554 05-14-2013 03:56 PM
Paid cash

edub370 05-14-2013 04:08 PM
24. Paid off

enkei2k 05-14-2013 04:15 PM
I'll own it in a little less than 4 years...unless I win the lotto then, it'd be much quicker.

zeeder 05-14-2013 06:17 PM
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.

CSA0890 05-14-2013 06:34 PM
Quote:
Originally Posted by zeeder (Post 2315869)
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.
It takes forever to start seeing it come down. I have dropped several grand off in the last few months.

22 financed the whole shibang. Once the wifes car is paid off in a month or two I will be doubling down on the Z. My goal is to own it in 2-3 years.

wheee! 05-14-2013 06:36 PM
3 payments left :excited:

kenchan 05-14-2013 07:25 PM
^^ nice. :D

Atm121990 05-14-2013 07:57 PM
Financed
 
$31,500 after all fees. After trade in and down payment only owe $14,000 for 4 years. Planning to have it paid off in 2 years :happydance:

fairlady_z34 05-14-2013 08:19 PM
just bought mines a few weeks ago. will own mines in two years hopefully(did a 5 year term). paying 339 a month

MJB 05-14-2013 08:27 PM
I owe about 5k left on it. Bought it in Oct 2011. 4 year loan at 330/month. I've been making double payments when I can. Should have it paid off sometime this fall.

cipherul 05-14-2013 11:54 PM
Paid cash. Not rich, just had some money. Not the best thing to do if you're trying to build credit which I could use right now. 29 yrs. old.

CVRZ34 05-14-2013 11:54 PM
Bought end of March. Paid it off today.

Daflabear 05-15-2013 01:00 AM
My 2013 370Z Touring Coupe was paid for in cash, on January 16th!

Niche79 05-15-2013 01:36 AM
Making payments, owe about 21k. Might toss more on the payments as we go but for now its just on auto draw at 2.9%.

ocfoilist 05-15-2013 02:36 AM
Just paid it off this month - now I can divert the payment towards my newborn's college fund...

Nailzs 05-15-2013 05:33 AM
Put cash down and Social Security is gonna pay the rest. Sometimes it good to be old :icon17:

onzedge 05-15-2013 05:47 AM
Quote:
Originally Posted by Nailzs (Post 2316484)
Put cash down and Social Security is gonna pay the rest. Sometimes it good to be old :icon17:
:tup:

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 07:09 AM
Quote:
Originally Posted by zeeder (Post 2315869)
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 (Post 2316432)
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.:tup::tup:

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 (Post 2316558)
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 :tup:

birdmanx1 05-15-2013 07:55 AM
Great deal man, whichever process works for you to get out of it early :tup:

JARblue 05-15-2013 09:52 AM
Quote:
Originally Posted by birdmanx1 (Post 2316605)
Great deal man, whichever process works for you to get out of it early :tup:
That's the goal :tiphat:

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 :)

zeeder 05-15-2013 10:26 AM
Quote:
Originally Posted by birdmanx1 (Post 2316558)
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.

fonzo179 05-15-2013 10:46 AM
Quote:
Originally Posted by JARblue (Post 2316565)
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 :wtf2: (places suitcase full of money on the ground and leaves quietly)

JARblue 05-15-2013 10:50 AM
Quote:
Originally Posted by fonzo179 (Post 2316890)
lol Mob Boss??? Ooohh, now that I think about it, I haven't paid my Z Car Mafia dues :wtf2: (places suitcase full of money on the ground and leaves quietly)
:icon17:

I am part of a team that occasionally does life safety inspections of military hospitals. One week of that work pays the equivalent of about 30% of my day job annual salary :tup:

UNKNOWN_370 05-15-2013 12:26 PM
Will pay off by end of this year. Hopefully after this i might get a z35, :tup: 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 (Post 2317101)
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 :)

MarkGideon 05-15-2013 06:36 PM
Quote:
Originally Posted by KERMIT (Post 2317602)
0% interest loan. I'd be crazy to pay it off!
Same here. I even put down less than I had originally planned when I bought it last year. Why use my money when Nissan lets me use theirs for 0%.

I have almost 4.5 years left on the loan, haven't made any extra payments, and have no plans to pay it off early.

KERMIT 05-15-2013 09:00 PM
What I don't understand is why people who have paid off their cars talk about others who are upside down on their car loan... It doesn't matter, everyone lost the same amount regardless of when they paid for it...

Guy 1: gets 370z pays $35000 cash. 3 years later, it's worth $12000. Net loss = $23k

Guy 2 gets 370z 0 down gets 5 yr loan for 35000. 3 years later, it's worth $12000. Is "upside down on his loan" and owes $2000 more than its worth. In the meantime, 35000 was invested and made 8% per year. Original investment is now worth $44k (net gain of $9k). He paid 21k in payments over the 3 year period, still owes $2k... Net loss $16k!

So, the fact that people are upside down is completely arbitrary. Everyone loses the same amount in depreciation. What matters is if you made your money work for you in the meantime.

6MT 05-15-2013 09:08 PM
Ahhhhh...... no I better not.

KERMIT 05-15-2013 09:18 PM
For clarity I should add guy 3

Guy 3: gets 370z w 5 year loan, barely makes the payments, has no investment. Goes to trade it in with 2k negative equity and rolls it into his next loan and the cycle continues. Net loss = his ***


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