COuld i financially own a nissan 370z

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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IWuv370z

Exactly, not sure how secure this job is going to be. I know i can afford it with a 5 year loan, but i think if I just buy a 350z and pay the full amount its going to take alot of stress off my shoulders...

plus if I mod it very nicely, i can make it look reallly nice.

zman99

I think you have been given a lot of mature advice here. I am also a young dude (23 pretty soon). I would say your number one priority is becoming more independent. Your question is verbatim to what I was asking at age 19. I ended up staying with the grand am that I had (and still drive). It turns out that the "awesome secure" job I had with my neighbors company was not the hit and I chose to enlist and finish my degree upon losing the job even though I was best. Dude I am really fond of the Z we all are and we gripe about its small flaws but its still our dream car.... Be aware, a lot can happen in 1-2 years. You could be seeing alot of your friends move out or feel cramped by living with parents. I gotta tell ya, at 19 bein off on my own, my own place, my own cell bill(no more gettin chewd on for high bill), havin all the friends over and last but not least bringing my girlfriend over. Dude imagine pullin the finest chick and being stoked about it only to tell her that you dont know if your parents are home so uuuhhhh.... buzz kill.

Put that $$ in a ROTH IRA, keep some for your self get an ok used car and live life to its fullest with out the stress of high bills. My buddy has a dodge ram that he drooled over and now he spends every week stressed over bills and spends the weekends trying to make extra pay. I feel ya dude, a nice billy bad *** car is what I look at on this forum every night too. But I tell ya what. At my place the beer never stops flowin, the music never stops, and the feeling of independence is .. well... liberating. I might get the Z if a bloody dealer will charge less then my two marbles. Before ya know it, time will pass and you being a hard worker and all .. will have the pick of the litter. Your making good pay now, but to get the full effect of the nice car get the full effect of the responsibility of finances. I wish you the best and hope you get the car you need.

IWuv370z

Honestly I completely understand what you are saying.

I don't drink or smoke and I am not too focused on friends or anything like that. I couldnt honestly care less if my friends were moving out or w.e, I just find that something to be what the media has influenced upon us. Why not live the life you want and live a nice house with my parents until I am set to go?

Reason i cant drink or smoke or anything is because i do fitness modelling during the summer. I have a comp in california soon and I have to cut down to a certain bodyfat Its a passion of mine, and I cant give that up for chicks and such, just not my personality type.

I agree that buying an ok used car is good, but thats honestly for someone who has a crappy job and living on his own. My parents are set for life basically, any money i make (may sound spoiled) doesn't goto my parents even tho i like to offer them the money.

anyways, i have the moneyto buy a 350z and pay out the car fully, just gonna have to pay insurance which will be under ym dads name/