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how much would a downpayment on a 370z be?

or like that starting payment so you can drive it around be? i'm only 17 (i know, stupid huh?) but i have been thinking about buying a 370z so i

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Old 05-04-2009, 01:03 AM   #1 (permalink)
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Default how much would a downpayment on a 370z be?

or like that starting payment so you can drive it around be? i'm only 17 (i know, stupid huh?) but i have been thinking about buying a 370z so i hope not to get flamed with me being too young or anything, i'm just asking for advice for down the road
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Old 05-04-2009, 01:57 AM   #2 (permalink)
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$10k.
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Old 05-04-2009, 02:06 AM   #3 (permalink)
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I put around 8,500 down. You don't have to put anything down if you dont want, but your payments will be more if you don't. The more money you put down=cheaper monthly payments.
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Old 05-04-2009, 02:08 AM   #4 (permalink)
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I am not sure what you're asking. Down payment is money you have set aside for your car. We do not have the slightest clue how much money you have saved up for your Z. If you're asking for an estimate, then i'll give you one. If you have good credit score and able to get a 3.99% financing then with 12K down on a 33K base with sports, you'll pay less than $400/month.

Here's a payment calculator Car Payment Estimates from carmax.com
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Old 05-04-2009, 02:22 AM   #5 (permalink)
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I put down 8k. It seems like for every 1000 that you put down, it's 20 less a month you have to pay.
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Old 05-04-2009, 04:31 AM   #6 (permalink)
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Your down payment will also affect how much you interest you'll pay on the loan. For example, a $33k Z with $5k down at 5.7% for 60 months is about $400/month. You'll end up paying $3200 in interest. Same car with $15k down is about $208/month and $1650 in interest. If you put $15k down and shorten the loan to 36 months, you'd pay $330/month and only pay $1000 in interest.

So basically, going from $5k @ 60mo to $15k down @ 36mo means:
- $2200 less paid as interest
- $70 less per month
- Own the car 2 YEARS earlier

There are usually 2 cons to large down payments. First, if you'd kept the money and invested it, your return may partially offset the added interest you'll be paying. Secondly, since inflation usually occurs over the term of the loan, the bank basically loses whatever the inflation rate is off the APR since the $400 or so you're paying per month is worth less and less as time passes on the loan. However, since the economy is in the toilet right now, investment returns are low and the inflation rate will be mostly stagnant so these two cons don't apply to most people right now. I'm simplifying these concepts (mostly because I don't know what I'm talking about).
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Old 05-04-2009, 12:24 PM   #7 (permalink)
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Mine came out to be:

$38,750 after tax,title, license. I put $8,750 for a down payment. So I got a loan for the rest of the $30,000. With a 4.24% finance on the 60 month loan my payments come out to be $568 a month just to give you an idea.
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Old 05-04-2009, 03:28 PM   #8 (permalink)
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I put $14k down because I didn't feel like financing almost 40k.
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Old 05-04-2009, 04:39 PM   #9 (permalink)
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I always put 20% (or more) down payment of the purchase price.
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Old 05-04-2009, 05:39 PM   #10 (permalink)
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0 -> cost of the car what monthly payments you want? how many months?
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Old 05-04-2009, 06:25 PM   #11 (permalink)
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ya i got kinda screwed i got really bad credit but i put 15k down with a 14.9% APR and pay 465 a month
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Old 05-04-2009, 07:26 PM   #12 (permalink)
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Quote:
Originally Posted by nappymike View Post
ya i got kinda screwed i got really bad credit but i put 15k down with a 14.9% APR and pay 465 a month
wow 14.9?? that is pretty high. but not higher than my friend's. his is around 16%.
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