Who REALLY owns their Z???

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)

JARblue · 05-15-2013, 10:50 AM

Quote:

Originally Posted by fonzo179

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)

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

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

MarkGideon · 05-15-2013, 06:36 PM

Quote:

Originally Posted by KERMIT

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 ***

birdmanx1 · 05-16-2013, 12:44 PM

Kermit, to each their own, if you are fine paying interest for 5, 6, 7 years on something that won't be worth much in the end, then start the process over with another car and you have no issue with it, no biggie then man. A basic guy 1 guy 2 analysis to show arbitrary numbers won't suffice. You are locked in a 5-7 year loan, there may be opportunity cost in terms of your credit worthiness/Asset vs Liability report if and when purchasing long term assets. Please don't imply that the guy who paid for the car cash is not also getting returns on the equity market and doing other things to get ahead.

Look man, if you can swing having consumer debt, paying interests (that could have been invested elsewhere) and that works for you

I rather be the guy at 50 with all my houses paid for, College planning taken care of, no debt, free to roam the world as I please. Being locked in car debt is not part of that plan

MarkGideon · 05-16-2013, 01:00 PM

Quote:

Originally Posted by birdmanx1

Kermit, to each their own, if you are fine paying interest for 5, 6, 7 years on something that won't be worth much in the end, then start the process over with another car and you have no issue with it, no biggie then man. A basic guy 1 guy 2 analysis to show arbitrary numbers won't suffice. You are locked in a 5-7 year loan, there may be opportunity cost in terms of your credit worthiness/Asset vs Liability report if and when purchasing long term assets. Please don't imply that the guy who paid for the car cash is not also getting returns on the equity market and doing other things to get ahead.

Look man, if you can swing having consumer debt, paying interests (that could have been invested elsewhere) and that works for you

I rather be the guy at 50 with all my houses paid for, College planning taken care of, no debt, free to roam the world as I please. Being locked in car debt is not part of that plan

Somehow, I don't think that 0% interest on the consumer debt is really costing all that much.

MMC Racing · 05-16-2013, 01:06 PM

Quote:

Originally Posted by birdmanx1

Kermit, to each their own, if you are fine paying interest for 5, 6, 7 years on something that won't be worth much in the end, then start the process over with another car and you have no issue with it, no biggie then man. A basic guy 1 guy 2 analysis to show arbitrary numbers won't suffice. You are locked in a 5-7 year loan, there may be opportunity cost in terms of your credit worthiness/Asset vs Liability report if and when purchasing long term assets. Please don't imply that the guy who paid for the car cash is not also getting returns on the equity market and doing other things to get ahead.

Look man, if you can swing having consumer debt, paying interests (that could have been invested elsewhere) and that works for you

I rather be the guy at 50 with all my houses paid for, College planning taken care of, no debt, free to roam the world as I please. Being locked in car debt is not part of that plan

Based on your response, Kermit's entire post was lost on you.

birdmanx1 · 05-16-2013, 04:32 PM

Quote:

Originally Posted by MarkGideon

Somehow, I don't think that 0% interest on the consumer debt is really costing all that much.

Smart @ss

KERMIT · 05-16-2013, 06:41 PM

No one has come up with good counter arguments....

Capital gains?

Uncertainty?

Don't make me argue with myself!... There are lots more good ones left!

05-15-2013, 12:26 PM	#273 (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: 14857	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	#276 (permalink)
KERMIT Enthusiast Member Join Date: Apr 2012 Location: Republic of Wadiya Posts: 301 Drives: Ms. Daisy Rep Power: 13	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

05-15-2013, 09:00 PM	#278 (permalink)
KERMIT Enthusiast Member Join Date: Apr 2012 Location: Republic of Wadiya Posts: 301 Drives: Ms. Daisy Rep Power: 13	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. IMWEZL and birdmanx1 like this. __________________ Steering wheel with Z emblem, keyless entry, 3.7L with dual overhead cams, am/fm radio, ABS brakes, windshield, air in tires

05-15-2013, 09:08 PM	#279 (permalink)
6MT A True Z Fanatic Join Date: May 2009 Location: ITU Zone 2 Posts: 22,459 Drives: Reliant Robin Rep Power: 1789	Ahhhhh...... no I better not. __________________ Andrew 2009 370Z Sport/Touring 6MT sold 2013 Honda Civic Si coupe D/D

05-15-2013, 09:18 PM	#280 (permalink)
KERMIT Enthusiast Member Join Date: Apr 2012 Location: Republic of Wadiya Posts: 301 Drives: Ms. Daisy Rep Power: 13	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 *** __________________ Steering wheel with Z emblem, keyless entry, 3.7L with dual overhead cams, am/fm radio, ABS brakes, windshield, air in tires

05-15-2013, 12:44 PM	#275 (permalink)
zak's z Base Member Join Date: Apr 2013 Location: Toronto, ON Posts: 12 Drives: 09 370Z 6MT Touring Rep Power: 12	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.

05-16-2013, 12:44 PM	#281 (permalink)
birdmanx1 A True Z Fanatic Join Date: Jun 2010 Location: Baltimore, MD Age: 95 Posts: 3,175 Drives: 370z Nismo Rep Power: 23	Kermit, to each their own, if you are fine paying interest for 5, 6, 7 years on something that won't be worth much in the end, then start the process over with another car and you have no issue with it, no biggie then man. A basic guy 1 guy 2 analysis to show arbitrary numbers won't suffice. You are locked in a 5-7 year loan, there may be opportunity cost in terms of your credit worthiness/Asset vs Liability report if and when purchasing long term assets. Please don't imply that the guy who paid for the car cash is not also getting returns on the equity market and doing other things to get ahead. Look man, if you can swing having consumer debt, paying interests (that could have been invested elsewhere) and that works for you I rather be the guy at 50 with all my houses paid for, College planning taken care of, no debt, free to roam the world as I please. Being locked in car debt is not part of that plan kenchan likes this. __________________ 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

05-16-2013, 06:41 PM	#285 (permalink)
KERMIT Enthusiast Member Join Date: Apr 2012 Location: Republic of Wadiya Posts: 301 Drives: Ms. Daisy Rep Power: 13	No one has come up with good counter arguments.... Capital gains? Uncertainty? Don't make me argue with myself!... There are lots more good ones left! __________________ 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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