Should I get a GT-R?

Originally Posted by houkouonchi

Basically due to something with my work in the next few weeks I will probably be getting paid out upwards of $120-160k (exact amount is unknown).

Originally Posted by Magic Bus

While it appears you have a nice little sum cash and decent income, I wouldn't do it. All you're doing by getting the GTR and keeping the Z is dramatically increasing your expenses in depreciating assets.

At age 28 I would invest the money in a diversified portfolio and build it up. When these investments build up more then use the dividends or income to pay the GTR bill. Leave or re-invest all the capital gains from these investments so your total portfolio balance increases. Be a little more patient, it's not like you have a crappy car now.

As for paying off your mortgage, it depends on what your interest rate is. Example, if your mortgage is 3%, and your investments average an annual rate of return of 8%, why use the investment money to pay off the mortgage? But you have to invest the additional money.

Let your money work for you instead of you working for your money. Short term sacrifice results in long term pleasure while short term pleasure results in long term suffering.

Sorry to be a party pooper but you seem to be in a great position to set yourself up for a nice financial future and get the GTR much easier several years down the road.

Good luck to you on whatever you decide.

Originally Posted by 2011 Nismo#91

Don't forget to factor in Uncle Sam will take a nice chunk of that income come next April 15th.

Originally Posted by houkouonchi

Kind of been playing with the idea of getting a GT-R. Basically due to something with my work in the next few weeks I will probably be getting paid out upwards of $120-160k (exact amount is unknown). Its not enough to pay off my mortgage and I should also be getting a bump in my salary (currently making around 100k) but I have no clue how much of a bump. My payments on my 370z (which are almost done) are currently ~$500 and for quite a while I was paying $400/month for my internet and now I pay a lot less for my internet so it seems like the payments would be around $1100/month for a 60k loan on a used GTR with a modest down-payment. This amount seems actually pretty easily doable for me especially if I get a 10-15% bump in salary which it could possibly be even more (some weird circumstances at work I can't go into).

I really don't want to use any of that money I am getting and want to either invest or keep in a savings account to eventually pay off my house so even though I could buy a brand new GT-R in cash I don't think I would do that especially with the 2.5% financing right now. I know there are a few members on here who have both or had a GT-R and went back. I am curious how they liked it compared to the 370z? I am a pretty hard-core manual driver and this is actually the only car I would ever consider getting in an automatic (although with the way the transmission is I don't even know if it should be considered 'automatic).

I guess I wonder if those who are similar to me who have driven both what they think. I know the rear seats are super tiny but the very rare cases I need 3 seats its usually with my sister and she is super tiny so she could probably fit back there and the idea of having 4 seats is kind of nice.

Should I actually get a GT-R or am do you guys suggest I just pay off my Z and save my money and pay my house loan off faster?

My other concern is insurance. My insurance is currently $70/month on my 370Z (I am a male, 28 years old). Its not really a problem if the insurance goes up to $200 or so but if I get dinged with $600/month or something on insurance this may become a no-deal for me. Curious what the other Z drivers think. I think I would still keep my Z and occasionally drive that as well and it be my backup car.

Originally Posted by ssmoked

I think the better question would be is your job stable enough to afford the payments on the car, house, and utility... what field are you in anyways?

Originally Posted by houkouonchi

I actually work in an extremely desirable field. I am a senior-level Linux Systems Administrator and also do programming (devops). I have actually had recruiters from facebok go find my work email address after I didn't respond to them on linkedin. I honestly don't think I would ever really have trouble finding another job if I needed to. I really like where I work now because I get 25 days a year of vacation as well as 10 sick-days so 35 days a year of paid time off (280 hours per year). Also I telecommute half of the time so I usually don't even have to go into the office.

Thanks for all the input guys. I think what I really wanted to know is if the GTR is really worth it for people who have both a 370Z and a GTR or who have driven both. Even with a huge chunk of money I did not want to use that to actually buy a GT-R and instead wanted to get a loan and it to be at the level where I could pay it without eating into my savings just with my base salary which probably will be the case.

I guess I will just have to find an opportunity to actually go drive one and see how I like it. I think I am probably leaning a bit more towards just paying off the Z and helping my current cash-flow so I can save more and pay off the house quicker though.