My 350z got totaled =(

Chuck33079 · 12-14-2014, 09:14 AM

Quote:

Originally Posted by czirrfb

Well I imagine the term is 72 months. He says I can refinance after 1yr to get the apr lower. I can totally afford this car. Its only going to cost me $100 more than what I was paying for my 350z per month to own. I can easily spare an extra $100 per month.

Cost of 350z ownership was...

-car payments $255 per month
-Insurance - $150 per month
-Gas around $80 per month (I dont drive much)
-Having to fix constant issues due to it being an 03 DE model $alot

If you have to take out a six year auto loan you absolutely cannot afford this car. Stop looking at the payment and start thinking about the total cost.

czirrfb · 12-14-2014, 09:29 AM

I can "afford" this car. I make enough. My credit sucks ***, which is why I have to go 72 months and a higher apr. I obviously plan to pay it off much faster.

According to an online loan calculator. With 8% apr for 72 months it should be around $5,500 in interest over the term for $23k financed and $2,000 down.

6MT-Z34 · 12-14-2014, 09:29 AM

8% APR is a lot, i'm not sure I would be comfortable paying that much in interest

czirrfb · 12-14-2014, 09:34 AM

Yeah I know, I know my best bet is....

-Buy a POS car for around $4,000
-Drive it around for a year
-Fix my credit and save $ in the process
-Get a used 370z in a year with a lower apr

Chuck33079 · 12-14-2014, 09:34 AM

Quote:

Originally Posted by czirrfb

I can "afford" this car. I make enough. My credit sucks ***, which is why I have to go 72 months and a higher apr. I obviously plan to pay it off much faster.

According to an online loan calculator. With 8% apr for 72 months it should be around $5,500 in interest over the term for $23k financed and $2,000 down.

If you can afford this car, then you should have no problems making the higher payments that come with a responsible 36 month note. Buying a vehicle on a six year note is a bad move.The length of the note is more a factor of getting the payment down to the point where you think you can "afford" it, not your credit. But go ahead, no one has been able to tell you anything your entire tenure here. Go ahead and pay almost $30k for a 2010. That kind of thinking is probably why your credit sucks.

If you were smart, you'd buy a car cash and build your credit so you can buy cars without 8% apr.

czirrfb · 12-14-2014, 09:37 AM

My credit sucks due to going to the ER one time without medical insurance and not paying the bill, getting a Target credit card and owing only $10 and not paying it back, overdrafting on a bank account and not paying it back, selling a car to a guy and not going to the DMV in enough time before he gets the car towed and I get charged tow company fees.

Chuck33079 · 12-14-2014, 09:37 AM

Quote:

Originally Posted by czirrfb

Yeah I know, I know my best bet is....

-Buy a POS car for around $4,000
-Drive it around for a year
-Fix my credit and save $ in the process
-Get a used 370z in a year with a lower apr

Since you know what you should do, why are you unwilling to do it? Good credit will help you a lot more in life than having a used sports car one year earlier.

Chuck33079 · 12-14-2014, 09:39 AM

Quote:

Originally Posted by czirrfb

My credit sucks due to going to the ER one time without medical insurance and not paying the bill, getting a Target credit card and owing only $10 and not paying it back, overdrafting on a bank account and not paying it back, selling a car to a guy and not going to the DMV in enough time before he gets the car towed and I get charged tow company fees.

Your credit sucks because you are a risk to the company giving you money. You've got a history of not paying your debts.

czirrfb · 12-14-2014, 09:39 AM

Quote:

Originally Posted by Chuck33079

Since you know what you should do, why are you unwilling to do it? Good credit will help you a lot more in life than having a used sports car one year earlier.

Because you only live once. And I hate waiting for something I want. Another year of my life having to drive around a POS car and not feeling happy/excited. I know it sounds stupid.

Chuck33079 · 12-14-2014, 09:41 AM

Quote:

Originally Posted by czirrfb

Because you only live once. And I hate waiting for something I want. Another year of my life having to drive around a POS car and not feeling happy/excited. I know it sounds stupid.

Because it is stupid. It is stupid and will have negative effects for years down the line. That stupid YOLO bs is no justification for doing the exact opposite of what you know you should do. It's one year.

czirrfb · 12-14-2014, 09:44 AM

Yeah, ill just keep asking my dad if he gets any decent trade-ins that arent lemons and I can buy for around $4000 and just fix my credit and save. Its the best option.

Until then ill just continue to ride my bike, carpool with co-workers and use Uber for rides. I thought Uber was cheap, its $13 for a 5 mile car ride home.

Chuck33079 · 12-14-2014, 09:46 AM

That's the right call. In a year, maybe we have a new Z and the values on the Z34s will drop. You could get a newer car for the same money down and payments, but on a shorter term with a lower APR.

czirrfb · 12-14-2014, 09:50 AM

Yeah a car is just a car after all. It gets you from A to B.

But having a sweet car like the 370z WILL make me happier and enjoy life more than owning a 1995 honda civic with 100k miles on it. Sounds materialistic and superficial but nice cars make life better.

Chuck33079 · 12-14-2014, 09:52 AM

And if you play your cards right now, you can be in a position to buy nice cars in the future without getting bent over on interest and terms. You must be fairly young to be considering a year as a long time to go without. Suck it up, fix your credit and you'll be in a good position to buy cool toys for the rest of your life.

czirrfb · 12-14-2014, 09:55 AM

Well im 25. I dont feel "young" I feel like im getting old actually lol.

Ive never had a "nice" car in my life. The nicest car ive ever had was the 03 350z which is kinda sad. Before that was a 02 honda civic, before that was a POS 1999 VW jetta, before that was a 1996 civic hatchback.

12-14-2014, 09:29 AM	#197 (permalink)
czirrfb Base Member Join Date: Nov 2014 Location: Phoenix Posts: 162 Drives: 03 Nissan 350z DB M6 Rep Power: 10	I can "afford" this car. I make enough. My credit sucks **, which is why I have to go 72 months and a higher apr. I obviously plan to pay it off much faster. According to an online loan calculator. With 8% apr for 72 months it should be around $5,500 in interest over the term for $23k financed and $2,000 down. Last edited by czirrfb; 12-14-2014 at 09:32 AM.*

12-14-2014, 09:44 AM	#206 (permalink)
czirrfb Base Member Join Date: Nov 2014 Location: Phoenix Posts: 162 Drives: 03 Nissan 350z DB M6 Rep Power: 10	Yeah, ill just keep asking my dad if he gets any decent trade-ins that arent lemons and I can buy for around $4000 and just fix my credit and save. Its the best option. Until then ill just continue to ride my bike, carpool with co-workers and use Uber for rides. I thought Uber was cheap, its $13 for a 5 mile car ride home. Chuck33079 likes this.

12-14-2014, 09:46 AM	#207 (permalink)
Chuck33079 A True Z Fanatic Join Date: Nov 2011 Location: Houston Posts: 12,265 Drives: 2011 370ztt Rep Power: 29538	That's the right call. In a year, maybe we have a new Z and the values on the Z34s will drop. You could get a newer car for the same money down and payments, but on a shorter term with a lower APR. __________________ 2011 MB Touring-Sport-6sp-Nav/GTM TT/FI TT TDX/JTran/Kosmic/Eibach/Hotchkis/SPC/CSF/RPS/SoThatsWhereAllMyMoneyWent

12-14-2014, 09:52 AM	#209 (permalink)
Chuck33079 A True Z Fanatic Join Date: Nov 2011 Location: Houston Posts: 12,265 Drives: 2011 370ztt Rep Power: 29538	And if you play your cards right now, you can be in a position to buy nice cars in the future without getting bent over on interest and terms. You must be fairly young to be considering a year as a long time to go without. Suck it up, fix your credit and you'll be in a good position to buy cool toys for the rest of your life. __________________ 2011 MB Touring-Sport-6sp-Nav/GTM TT/FI TT TDX/JTran/Kosmic/Eibach/Hotchkis/SPC/CSF/RPS/SoThatsWhereAllMyMoneyWent

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12-14-2014, 09:29 AM	#198 (permalink)
6MT-Z34 A True Z Fanatic Join Date: Jan 2013 Location: NJ Posts: 1,726 Drives: PW Z Rep Power: 15	8% APR is a lot, i'm not sure I would be comfortable paying that much in interest

12-14-2014, 09:34 AM	#199 (permalink)
czirrfb Base Member Join Date: Nov 2014 Location: Phoenix Posts: 162 Drives: 03 Nissan 350z DB M6 Rep Power: 10	Yeah I know, I know my best bet is.... -Buy a POS car for around $4,000 -Drive it around for a year -Fix my credit and save $ in the process -Get a used 370z in a year with a lower apr

12-14-2014, 09:37 AM	#201 (permalink)
czirrfb Base Member Join Date: Nov 2014 Location: Phoenix Posts: 162 Drives: 03 Nissan 350z DB M6 Rep Power: 10	My credit sucks due to going to the ER one time without medical insurance and not paying the bill, getting a Target credit card and owing only $10 and not paying it back, overdrafting on a bank account and not paying it back, selling a car to a guy and not going to the DMV in enough time before he gets the car towed and I get charged tow company fees.

12-14-2014, 09:50 AM	#208 (permalink)
czirrfb Base Member Join Date: Nov 2014 Location: Phoenix Posts: 162 Drives: 03 Nissan 350z DB M6 Rep Power: 10	Yeah a car is just a car after all. It gets you from A to B. But having a sweet car like the 370z WILL make me happier and enjoy life more than owning a 1995 honda civic with 100k miles on it. Sounds materialistic and superficial but nice cars make life better.

12-14-2014, 09:55 AM	#210 (permalink)
czirrfb Base Member Join Date: Nov 2014 Location: Phoenix Posts: 162 Drives: 03 Nissan 350z DB M6 Rep Power: 10	Well im 25. I dont feel "young" I feel like im getting old actually lol. Ive never had a "nice" car in my life. The nicest car ive ever had was the 03 350z which is kinda sad. Before that was a 02 honda civic, before that was a POS 1999 VW jetta, before that was a 1996 civic hatchback.