COuld i financially own a nissan 370z

zfokaiz

honestly I'm 19 and im paying for my own 370 and i dont make 18/hr. so you can definitely do it; but when you get ready to move out are you going to be able to and not sacrifice the whole lifestyle you have now? just food for thought. I love my car and couldnt imagine wanting anything else but id also like to feel like i could move out and do more than just barely make ends meet.

IWuv370z

Not going to move out till ilke 2-3 more years.. Im planning on helping my dad with his business.. but god knows where my company will put me.

they are opening couple of new branches recently too, hiring bilingual people like myself, they are the leading in the market of what they do know in all of north america..

So my company is super stable, they add 50 cents more every year to my salary..

so i dont know man, im pretty sure i can afford the 370z.

Jesse_Hunter

If you really like your job and don't plan on leaving it, just do it. I'm all about living life too, less thought more do.

The only thing that gets me is that I realized I can't quit my job now, not that I want to at the moment. Although sometime soon I'd like to start traveling the world, discovering my path, etc.

I mean I could always sell the Z, but you know what I'm saying. An expensive car is a commitment.

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WarmAndSCSI

No offense, but don't take this as advice. If you lost the support of your parents (their health goes bad, they move, whatever) or otherwise had to move out, then you'd be screwed unless you could sell the car quick. The Z is a $40k car up there, so almost $750/month on a 72-year loan if you don't have a trade in (assuming 7% APR which would be really good given your age). That's a lot of money on $2500/month. Almost a 3rd of your income after taxes.

I'm almost to that point (1/4 of my take-home income) paying for a 370Z and 08 Evo X, and it's kind of tight if anything on the cars breaks lol.

nolan1016

Your theory is flawed, if his parents died then im guessing they would leave him a majority of their money. Considering he still lives with them they are probably on good terms. Now before you come back with the "you dont know that argument" lets be realistic. He can afford the car given his current situation, which is what he is asking. Not if X and Y happens then will he be able to afford it.

370Zsteve

If you gotta ask you can't afford it. Car Payment Hell awaits you, and the pretty ladies you hoped to attract with this sexy car will spurn you when they realize you have no spare cash.

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LunaZ

Keep it and put good all season or snow tyres on it.
Having a 370Z as your only car is going to be tough when Ontario winter arrives.

+1
Based on some of your previous posts and pics of things you like, you're gonna need extra cash for mods and maintenance. Heck, I've spent approximately $2700 on mods since I bought the car 3 months ago. Expect as set of tyres to cost around $1000+ plus mounting and balancing when it comes time to replace them.
In addition to the monthly payment and insurance, it costs me around $175-200 a month for premium gas to drive my Z, and I have satellite radio and traffic updates for about $15 a month.

I found myself asking a similar question when I was considering a Porsche Cayman S. My wife and I are super dinks living in an area with a very low cost of living, but at the end of the day, the Z made much more sense because it kept all the numbers in the "comfortable" range, leaving extra play money for the other things in life we enjoy when we're not driving our cars.
Consider that when you're deciding on whether or not to commit a large percentage of your income to a car.

(USD used in figures above)

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Evolution_GT

Do you think if I had a dedicated set of winter tires it would be fine driving it in the winter? I have a BMW rear-wheel drive in my family that has a dedicated set of winters and it works fine... could I expect similar results in a 370?

SkyZ

yep it'll be fine. our fearless leader AK drives in the winter. in fact he has a few vids here and there. they say the Z is a surprisingly good car in the winter. just dont be a knob, follow proper snow driving techniques (start in second, easy on the throttle) and ur fine.

onefastz

Sorry, I wasn't trying to flaw the situation of affording the car overall, I realize I was not clear in my wording. (btw my parents did not die). I was trying to work my story up to the point of insurance. I had no idea Canada's insurance was a lot higher than the states.

WarmAndSCSI

Your presumptions are a lot more far-fetched than mine... I doubt this guy wants to live with his parents indefinitely since he's making decent money. My advice is much more sound - don't buy the car if it's going to keep you from doing what you want to do with your life while you're still paying for it. Thinking 5 years down the road is a lot smarter in this situation. Thinking about buying a $40,000 car is ALL about the "what ifs."

IWuv370z

I read all of your suggestions and possibilities...

I can basically put down 20k as a down payement, now idont know how much that affects the monthly bills on the car, but including the insurance on my parents and such, then i believe i can afford it. Although then, if I buy a nissan 350z right, get it modded, keep saving up money while enjoying the 350z, I can always sell it, and have alot of money saved up in a year or two, and combine that to buy 370z. My company will give me a bigger raise of over 46k a year, i will be promoted soon... I am their most valuable employer because I am so skilled with computers and i know many languages.

but anyways...

I can either work my *** off to enjoy a 370z with insurance payements, monthly payments, and really have no money left to save up. OR I can buy a 350z, have it for 1 year, and during this time save up money because i can pay fully for the car.. then sell it and use all my savings to buy a nissa 370z and pay 3/4's of the car, instead of 1/4.

WarmAndSCSI

I wouldn't use all that cash for a down payment. If you can acquire decent financing, just use half of that saved money for a down payment. Take the hit on having to finance the other half, and invest the rest for a couple of years. Hell, start thinking about retirement... I've been saving since I started my current job @ 19. It all adds up, especially if your employer does any kind of matching or profit sharing.

Just out of curiosity, what do you drive currently? Are you trading that in?

IWuv370z

Currently its a piece of crap 1999 honda civic... Been trying to sell it, and still no one has come to even look at the car.

Cmike2780

Having to finance less with help you save a ton of cash unless you can somehow find a low interest or 0% interest on a loan. I don't know your full financial situtation or credit history so I can only tell you that you should pay as much money up front. It also depends on how many years you plan to pay off the loan. 5 year loan for 20,000 is about $333 a month plus insurance & interest or $555 a month for a 3 year loan plus insurance & interest . Paying it off quicker means lower interest rate. You can "afford" the car with $20k down, A little over $450 a month isn't too bad at all.

Just remember that while under your parents insurance, if you do anything stupid, they can go after your parents assets. You probably know that already, but you should try to get your own insurance if you can. There is a reason why the insurance is so high on sports cars especially for anyone with less than 5 years experience behind the wheel. $20k is alot saved up, its your decision, take your time and don't rush into anything. Also know that no job is 100% secure, no matter how valuable you are.

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