Deal too good to be true?

RunNgun · 09-20-2011, 07:46 PM

You know, 7 years at $510 isnt really sounding all that bad the more I think about it. Most people get a loan for 6 years, and everyone I'm seeing on this forum and the 1 person I know who owns a Z all pay $500+ for theirs. Seems like I would basically be paying for 1 additional year, a small price for my screwup impatiently purchasing the altima.

jaxxx · 09-30-2011, 07:39 PM

Quote:

Originally Posted by RunNgun

You know, 7 years at $510 isnt really sounding all that bad the more I think about it. Most people get a loan for 6 years, and everyone I'm seeing on this forum and the 1 person I know who owns a Z all pay $500+ for theirs. Seems like I would basically be paying for 1 additional year, a small price for my screwup impatiently purchasing the altima.

Really? 7 years? ... Lol. 5 years should be avg, I really think anyone should down half the price on any car atleast. Don't try to buy a car you can't afford .

UNKNOWN_370 · 10-03-2011, 01:59 AM

Quote:

Originally Posted by jaxxx

Really? 7 years? ... Lol. 5 years should be avg, I really think anyone should down half the price on any car atleast. Don't try to buy a car you can't afford .

You know nothing of car buying. You either put no money down or pay the whole thing. Any other way you are getting raped. I guarantee you, if you pay half a car up front? You are losing G's. And lastly, don't play high and mighty with those affordability comments. Its tacky.

birdmanx1 · 10-03-2011, 06:58 AM

Quote:

Originally Posted by chuckd05

you really think "most" people on here put down 50-75 percent on the car... i certainly don't

you got a base AT? so invoice should be around 29000 I think? or a sport? I would see if you can try to get your rate down enough to swap it to a 6 year and keep a similar payment...

what was odd with my latest car, when i offered to buy an extended warranty they had wiggle room in my interest rate... it went from 5.9 on a used car to 1.9 and almost negated the cost of the warranty.. my payment went up 12 dollars a month for a 100k bumper to bumper warranty because they magically played with the interest rate on a 5 year used car loan...

A lot more people have their Z pretty much paid for or with plenty of equity going by numerous threads you've more than likely come across. Moreover, I know plenty in the MidA crew in that situation... so yes, I think "most" people on here put down significant down payment on the car.
Chuck, you noted 5.9 rate on a $29000 for 6 years which ends up being over $10000 interest just on the loan, that's huge. OP, please consider going with a shorter loan period and get it out of your way.

Red__Zed · 10-03-2011, 07:22 AM

Quote:

Originally Posted by UNKNOWN_370

You know nothing of car buying. You either put no money down or pay the whole thing. Any other way you are getting raped. I guarantee you, if you pay half a car up front? You are losing G's. And lastly, don't play high and mighty with those affordability comments. Its tacky.

Not sure if serious.

Lots of people get great deals paying that way. I bought my Subaru with half down, you can check with phelan to see what kinda deal I got on that...$500 under invoice with snow on the ground, only wrx within 100 miles. I've only seen a handful of pepole do that well since.

Having seen the prices you paid for your car, I'm not sure I'd be telling people they "know nothing"....Besides, it's uneccesarily combative and isn't helpful.

birdmanx1 · 10-03-2011, 07:32 AM

Quote:

Originally Posted by Red__Zed

Not sure if serious.

Lots of people get great deals paying that way. I bought my Subaru with half down, you can check with phelan to see what kinda deal I got on that...$500 under invoice with snow on the ground, only wrx within 100 miles. I've only seen a handful of pepole do that well since.

Having seen the prices you paid for your car, I'm not sure I'd be telling people they "know nothing"....Besides, it's uneccesarily combative and isn't helpful.

+1 Say it as it is Red.

victort · 10-04-2011, 01:31 AM

Quote:

Originally Posted by birdmanx1

+1 Say it as it is Red.

i agree with red zed too. why pay so much interest on a rapidly depreciating car?

birdmanx1 · 10-02-2011, 10:45 AM

Quote:

Originally Posted by RunNgun

You know, 7 years at $510 isnt really sounding all that bad the more I think about it. Most people get a loan for 6 years, and everyone I'm seeing on this forum and the 1 person I know who owns a Z all pay $500+ for theirs. Seems like I would basically be paying for 1 additional year, a small price for my screwup impatiently purchasing the altima.

You had me along until you brought up 7 years. That's a really baaaaaaaaaaad deal, 7 years is way too long to be locked into car payments at $500+/month, check how much the car will end up costing you at the end of those 7 years, what the car will end up costing after depreciation, plus things change, new models are introduced, your family situation. Most of us on the forum have the car pay for or put down 50%-75% of the car price so don't use the $500+ as your reference.

chuckd05 · 10-02-2011, 10:24 PM

Quote:

Originally Posted by birdmanx1

You had me along until you brought up 7 years. That's a really baaaaaaaaaaad deal, 7 years is way too long to be locked into car payments at $500+/month, check how much the car will end up costing you at the end of those 7 years, what the car will end up costing after depreciation, plus things change, new models are introduced, your family situation. Most of us on the forum have the car pay for or put down 50%-75% of the car price so don't use the $500+ as your reference.

you really think "most" people on here put down 50-75 percent on the car... i certainly don't

with no money down at 480 for 7 years its 40,320 total money spent on the car.... i wouldn't do a 7 year loan on a 7 percent interest rate, that def adds up and you can see when you look at what you end up paying.. but if you are happy that is all that matters.

you got a base AT? so invoice should be around 29000 I think? or a sport? I would see if you can try to get your rate down enough to swap it to a 6 year and keep a similar payment...

what was odd with my latest car, when i offered to buy an extended warranty they had wiggle room in my interest rate... it went from 5.9 on a used car to 1.9 and almost negated the cost of the warranty.. my payment went up 12 dollars a month for a 100k bumper to bumper warranty because they magically played with the interest rate on a 5 year used car loan...

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09-20-2011, 07:46 PM	#1 (permalink)
RunNgun Base Member Join Date: Sep 2011 Location: USA Posts: 80 Drives: 2011 370z black AT Rep Power: 14	You know, 7 years at $510 isnt really sounding all that bad the more I think about it. Most people get a loan for 6 years, and everyone I'm seeing on this forum and the 1 person I know who owns a Z all pay $500+ for theirs. Seems like I would basically be paying for 1 additional year, a small price for my screwup impatiently purchasing the altima.