Looking to buy a 2009. Is this a good deal?

tjlazer · 01-20-2010, 09:14 PM

OK I want to buy this new 6MT 2009 370Z Base with Sport Package. Dealer is willing to sell for $31,900. MSRP is a little over $33K. I might be able to get them a little lower as the car has over 300 miles on it and they cannot sell it. They say the color is not too popular. (Monterey Blue)

So here is my deal. I have fair credit. My payment will be $713 a month for 72 months with Nissan Credit. The lease is looking much better. $536 a month for 38 months. $2K down. ($1,800 Credit for promo) 10K miles a year. Buyout after term is $18K...

I did some numbers and it seems I am way better off doing the lease than financing the $32K at 15.5%! I could finance the 18K and try to do better than 15% and it will be like several K less total cost. (and I have the option to walk if I don't want the car at that point)

Thoughts?

ZPirate · 01-20-2010, 09:27 PM

I can't really say whether buying or leasing is better for your particular situation, but for most buying is better in the long run.

As for the price $31,900 seems high for a 2009 with an MSRP of 33k. There are a lot of good deals out there on 09s for under invoice. Take alook at what's on the car and figure out what invoice is and then work down from there. There is a thread on here that will give you the invoice numbers.

shiftmx05 · 01-20-2010, 09:30 PM

I would find a better deal... and also, never finance imo

I got an email from a Norris Nissan with this deal:

2009 Nissan
370Z with Sport Package

MSRP was: $34,580
VIN: JN1AZ44E39M409576
Your Price: $28,998

here's a link to the car:
2009 Nissan 370Z For Sale | Ellicott City MD

Show this to your dealer and see what they can do.

z man · 01-20-2010, 09:40 PM

Whether the deal is good or bad is dependent upon how bad you want the vehicle. Of the two deals posted, the lease will be the most practical, provided you will be able to meet the lease requirements....but understand upon completing the lease you will either have to purchase the vehicle or opt to try to find another deal or vehicle. If you are purchasing, the 15% interest will be quite a bit added to the cost of the vehicle, and you will be upside down in the vehicle at a very quick rate (gap insurance should be considered).

My opinion, only my opinion, I would save more money for the down payment in order to possibly get a lower interest rate or work at getting the credit scores up so that the buy option would be more practical.

Either way, add up the total in payments for the lease and the total cost to buy the car...and that will help you determine how much you will pay for the car in the end, and hopefully help you with making your decision.

If the cost is too great, step away for a minute until a better offer can be provided to you and come back another day. What you do not want to do is regret the deal that was made six months after everything is final, and you can't get out of something you got into without loosing big.

It's just my opinion....everyone has one!

tjlazer · 01-20-2010, 09:50 PM

Well Invoice is like $31,400 or so according to the sticky. Should I be aiming for LESS than this for a 2009?

tonybui · 01-21-2010, 12:40 AM

Quote:

Originally Posted by shiftmx05

I would find a better deal... and also, never finance imo

I got an email from a Norris Nissan with this deal:

2009 Nissan
370Z with Sport Package

MSRP was: $34,580
VIN: JN1AZ44E39M409576
Your Price: $28,998

here's a link to the car:
2009 Nissan 370Z For Sale | Ellicott City MD

Show this to your dealer and see what they can do.

The link says 30,403 not 28,998 ??

I'm actually in MD and 15 mins away from that dealer, can you send me the email that you got quote there for that car please ?? I want to purchase, they gave me the price of 30,403 for that vehicle !! damn bitches

shiftmx05 · 01-21-2010, 07:17 AM

Tonybui,

If you PM me your email I could forward the email they sent me to you.

seecue · 01-21-2010, 10:36 AM

Quote:

Originally Posted by z man

Whether the deal is good or bad is dependent upon how bad you want the vehicle. Of the two deals posted, the lease will be the most practical, provided you will be able to meet the lease requirements....but understand upon completing the lease you will either have to purchase the vehicle or opt to try to find another deal or vehicle. If you are purchasing, the 15% interest will be quite a bit added to the cost of the vehicle, and you will be upside down in the vehicle at a very quick rate (gap insurance should be considered).

My opinion, only my opinion, I would save more money for the down payment in order to possibly get a lower interest rate or work at getting the credit scores up so that the buy option would be more practical.

Either way, add up the total in payments for the lease and the total cost to buy the car...and that will help you determine how much you will pay for the car in the end, and hopefully help you with making your decision.

If the cost is too great, step away for a minute until a better offer can be provided to you and come back another day. What you do not want to do is regret the deal that was made six months after everything is final, and you can't get out of something you got into without loosing big.

It's just my opinion....everyone has one!

I agree with this guy. I've made some financial mistakes, I promised myself I would never do that again. Waiting is painful, but in the end it should be worth it. BTW I'm still waiting.....=(

areyouin729 · 01-21-2010, 12:24 PM

Quote:

Originally Posted by shiftmx05

I would find a better deal... and also, never finance imo

I got an email from a Norris Nissan with this deal:

2009 Nissan
370Z with Sport Package

MSRP was: $34,580
VIN: JN1AZ44E39M409576
Your Price: $28,998

here's a link to the car:
2009 Nissan 370Z For Sale | Ellicott City MD

Show this to your dealer and see what they can do.

never finance? why leasing a 370Z is a lot worse than financing one

shiftmx05 · 01-21-2010, 12:42 PM

Quote:

Originally Posted by areyouin729

never finance? why leasing a 370Z is a lot worse than financing one

This what happens when I stay up to late.

I meant to say I would never lease a vehicle.

I'm still trying to save up around 10k before I take out a loan to buy my Z.

tjlazer · 01-21-2010, 02:34 PM

Thanks all.

I did the math and if I lease this is the total I am paying, with interest and with buyout: $45K. Financing with Nissan Credit: $51K. I am looking into a Credit Union to see if I can get a better rate on a loan...

seecue · 01-21-2010, 03:45 PM

When you did your calculations, are you going to pay cash for the buy out price? If you are going to finance it it will cost you more, you are also not guaranteed the low rates we have now. Who knows what it will be 3-4 years from now.

tjlazer · 01-21-2010, 10:07 PM

Quote:

Originally Posted by seecue

When you did your calculations, are you going to pay cash for the buy out price? If you are going to finance it it will cost you more, you are also not guaranteed the low rates we have now. Who knows what it will be 3-4 years from now.

No I factored in the financing for the 18K

I applied at a Credit Union and got offered 9.7% but for 5K less than the cost of the car. I also got the dealer down to $30,900 for it! $500 less than invoice!! I now have to see if I can scrape up 5K in cash to make the deal!!!

tonybui · 01-21-2010, 11:23 PM

I thought the invoice for Z is 28,000 and sport package = 2,600 so it should be 30,600 at INVOICE. You are getting offered at 39,000 that is not 500 under invoice. Go lower than that !!

tjlazer · 01-25-2010, 10:54 AM

$31,365 is Invoice (with $720 destination fee)

01-20-2010, 09:14 PM	#1 (permalink)
tjlazer A True Z Fanatic Join Date: Dec 2009 Location: Tacoma Age: 52 Posts: 2,496 Drives: Z34, R35 Rep Power: 19	Looking to buy a 2009. Is this a good deal? OK I want to buy this new 6MT 2009 370Z Base with Sport Package. Dealer is willing to sell for $31,900. MSRP is a little over $33K. I might be able to get them a little lower as the car has over 300 miles on it and they cannot sell it. They say the color is not too popular. (Monterey Blue) So here is my deal. I have fair credit. My payment will be $713 a month for 72 months with Nissan Credit. The lease is looking much better. $536 a month for 38 months. $2K down. ($1,800 Credit for promo) 10K miles a year. Buyout after term is $18K... I did some numbers and it seems I am way better off doing the lease than financing the $32K at 15.5%! I could finance the 18K and try to do better than 15% and it will be like several K less total cost. (and I have the option to walk if I don't want the car at that point) Thoughts? Last edited by tjlazer; 01-20-2010 at 09:16 PM.

01-20-2010, 09:27 PM	#2 (permalink)
ZPirate Track Member Join Date: Dec 2008 Location: Greenville, NC Posts: 792 Drives: 09' 370Z & 03' 350Z Rep Power: 17	I can't really say whether buying or leasing is better for your particular situation, but for most buying is better in the long run. As for the price $31,900 seems high for a 2009 with an MSRP of 33k. There are a lot of good deals out there on 09s for under invoice. Take alook at what's on the car and figure out what invoice is and then work down from there. There is a thread on here that will give you the invoice numbers. __________________ 2003 Daytona Blue 350Z Touring/Nismo 2009 Platinum Graphite 370Z Touring/Sport (Sold) 2009 BMW 135i/Dinan Stage 2 software upgrade/M3 suspension piecies/Koni Sports/ETS FMIC/Alufelgen SF-71 wheels

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01-20-2010, 09:30 PM	#3 (permalink)
shiftmx05 Base Member Join Date: Jan 2009 Location: Philly Posts: 12 Drives: 06 Nissan 350Z Rep Power: 16	I would find a better deal... and also, never finance imo I got an email from a Norris Nissan with this deal: 2009 Nissan 370Z with Sport Package MSRP was: $34,580 VIN: JN1AZ44E39M409576 Your Price: $28,998 here's a link to the car: 2009 Nissan 370Z For Sale \| Ellicott City MD Show this to your dealer and see what they can do.

01-20-2010, 09:40 PM	#4 (permalink)
z man Base Member Join Date: Nov 2009 Location: DFW (Texas) Posts: 75 Drives: 370z Black-09 Rep Power: 15	Whether the deal is good or bad is dependent upon how bad you want the vehicle. Of the two deals posted, the lease will be the most practical, provided you will be able to meet the lease requirements....but understand upon completing the lease you will either have to purchase the vehicle or opt to try to find another deal or vehicle. If you are purchasing, the 15% interest will be quite a bit added to the cost of the vehicle, and you will be upside down in the vehicle at a very quick rate (gap insurance should be considered). My opinion, only my opinion, I would save more money for the down payment in order to possibly get a lower interest rate or work at getting the credit scores up so that the buy option would be more practical. Either way, add up the total in payments for the lease and the total cost to buy the car...and that will help you determine how much you will pay for the car in the end, and hopefully help you with making your decision. If the cost is too great, step away for a minute until a better offer can be provided to you and come back another day. What you do not want to do is regret the deal that was made six months after everything is final, and you can't get out of something you got into without loosing big. It's just my opinion....everyone has one!

01-20-2010, 09:50 PM	#5 (permalink)
tjlazer A True Z Fanatic Join Date: Dec 2009 Location: Tacoma Age: 52 Posts: 2,496 Drives: Z34, R35 Rep Power: 19	Well Invoice is like $31,400 or so according to the sticky. Should I be aiming for LESS than this for a 2009?

01-21-2010, 07:17 AM	#7 (permalink)
shiftmx05 Base Member Join Date: Jan 2009 Location: Philly Posts: 12 Drives: 06 Nissan 350Z Rep Power: 16	Tonybui, If you PM me your email I could forward the email they sent me to you.

01-21-2010, 02:34 PM	#11 (permalink)
tjlazer A True Z Fanatic Join Date: Dec 2009 Location: Tacoma Age: 52 Posts: 2,496 Drives: Z34, R35 Rep Power: 19	Thanks all. I did the math and if I lease this is the total I am paying, with interest and with buyout: $45K. Financing with Nissan Credit: $51K. I am looking into a Credit Union to see if I can get a better rate on a loan...

01-21-2010, 03:45 PM	#12 (permalink)
seecue Base Member Join Date: Jan 2010 Location: Sacramento Posts: 23 Drives: 02 Honda S2000 Rep Power: 15	When you did your calculations, are you going to pay cash for the buy out price? If you are going to finance it it will cost you more, you are also not guaranteed the low rates we have now. Who knows what it will be 3-4 years from now.

01-21-2010, 11:23 PM	#14 (permalink)
tonybui A True Z Fanatic Join Date: May 2009 Location: Maryland Posts: 1,397 Drives: 09 Sports 6 Speed Rep Power: 426	I thought the invoice for Z is 28,000 and sport package = 2,600 so it should be 30,600 at INVOICE. You are getting offered at 39,000 that is not 500 under invoice. Go lower than that !!

01-25-2010, 10:54 AM	#15 (permalink)
tjlazer A True Z Fanatic Join Date: Dec 2009 Location: Tacoma Age: 52 Posts: 2,496 Drives: Z34, R35 Rep Power: 19	$31,365 is Invoice (with $720 destination fee)