Nissan 370Z Forum  

Need some financial advice please?

10k down should be enough. I put 8k down with payment of 500 every month. My credit was avg.

Go Back   Nissan 370Z Forum > Nissan 370Z General Area > Nissan 370Z Pricing / Ordering Discussions


Reply
 
LinkBack Thread Tools Display Modes
Old 09-22-2010, 04:53 PM   #1 (permalink)
Track Member
 
jaedub's Avatar
 
Join Date: Aug 2010
Location: Los Angeles
Posts: 906
Drives: 2010 Black 370Z MT
Rep Power: 306
jaedub has a reputation beyond reputejaedub has a reputation beyond reputejaedub has a reputation beyond reputejaedub has a reputation beyond reputejaedub has a reputation beyond reputejaedub has a reputation beyond reputejaedub has a reputation beyond reputejaedub has a reputation beyond reputejaedub has a reputation beyond reputejaedub has a reputation beyond reputejaedub has a reputation beyond repute
Default

10k down should be enough. I put 8k down with payment of 500 every month. My credit was avg.
jaedub is offline   Reply With Quote
Old 09-22-2010, 05:03 PM   #2 (permalink)
dad
Grand Prix of Endurance
 
dad's Avatar
 
Join Date: Nov 2008
Location: Tennessee
Posts: 3,476
Drives: Mulsanne Straight
Rep Power: 27
dad has a reputation beyond reputedad has a reputation beyond reputedad has a reputation beyond reputedad has a reputation beyond reputedad has a reputation beyond reputedad has a reputation beyond reputedad has a reputation beyond reputedad has a reputation beyond reputedad has a reputation beyond reputedad has a reputation beyond reputedad has a reputation beyond repute
Default

Don't finance beyond 60 months, the money sent on the interest isn't worth spending.
__________________

We can do without any article of luxury we have never had; but once obtained, it is not in human nature to surrender it voluntary.
dad is offline   Reply With Quote
Old 09-22-2010, 05:09 PM   #3 (permalink)
Enthusiast Member
 
Join Date: Apr 2010
Location: St. Louis
Posts: 424
Drives: 2011 Evo X MR
Rep Power: 17
daleks will become famous soon enough
Default

You have to meet minimum loan-to-value (LTV) amounts to qualify for certain loans. Generally if you have a 20% LTV (20% of principle paid up front) you should quality for the best rate. Beyond that it's a function of what you want to pay now and what you want to pay later. I think the main point is that if you don't put money down towards the car, be sure to do something useful with it. Otherwise it would've been better spent on paying down the car. Small variations in interest rates amount a couple grand over the life of the loan, which may or may not be much depending on your situation.
daleks is offline   Reply With Quote
Old 09-22-2010, 05:54 PM   #4 (permalink)
A True Z Fanatic
 
Join Date: Jul 2010
Location: Virginia
Posts: 1,134
Drives: 2009 Touring Sp Nav
Rep Power: 18
wilsonp will become famous soon enough
Default

Quote:
Originally Posted by daleks View Post
Otherwise it would've been better spent on paying down the car. Small variations in interest rates amount a couple grand over the life of the loan, which may or may not be much depending on your situation.
I agree - given current savings rates, I realized I was better off paying cash then getting a loan. Saved much more money not paying interest than earning slowly.

Also, I like to buy used these days - forced into it by my desire for an NSX, but find it has advantages in addition to letting someone else eat the depreciation. I'm not afraid of buying new, though, since I tend to keep a car 10 years.
__________________
2014 Cayman S PDK Sport Chrono White/Black
Was 2009 370Z Touring Sport+Nav 7AT Metallic Black/Persimmon
Was 1991 NSX Auto Black/Black

Last edited by wilsonp; 09-22-2010 at 06:09 PM. Reason: wrote more stuff
wilsonp is offline   Reply With Quote
Reply

Bookmarks


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Is anybody here a CFA (Chartered Financial Analyst)? alvinmathew88 The Lounge (Off Topic) 3 03-05-2010 09:14 AM
Advice on to Buy or Not to Buy ortizeg Nissan 370Z Pricing / Ordering Discussions 11 04-29-2009 11:18 PM
World Financial Group (WFG) nogoodname The Lounge (Off Topic) 9 04-09-2009 03:22 PM


All times are GMT -5. The time now is 12:11 PM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2026, Jelsoft Enterprises Ltd.
Search Engine Optimization by vBSEO 3.6.0 PL2