FUCHAOWNAOFdaZ

iTrader: (1)

I've been saving up since last july and so far I have like 5000 and should have 12000 by december for the downpayment. I am 17 and will have my used red 2004 or 2005 350z by december when I'll be 18.

So how about you guys. How long did you (those who actually saved up or are still doing so) save up ?

Neo105

2 years, but the car is 55.000 euro over here, so that aint bad, keep in mind though that i havent received my car, or saved all that money

tnkrstoyco

I started saving for ours when they announced they would build the Z again. I told them we would talk when they built it in Yellow.
Our Yellow 35th came in last thursday and we did the paperwork on monday and paid it off.
We weren't in any hurry, we also have a 93'300zx vert.

Lerxst

iTrader: (2)

Loan interest rates are so low (5.25%), I put $500 down and left my investments alone... aka... I didn't save up...

JThrilla

I've been saving for a few months now and with my tax return, bonus, and trade in, I'll have a pretty good down payment.

hypeiv

iTrader: (2)

I put 5k down and I am kicking myself for doing it. I would have rather paid the $80-90 more per month and keep my 5k in my investments.

If your know your going to have a job and be able to make the payments I wouldn't put any money down.

theonetheonly

No saving put $5K down...now making payments...picked it up after I graduated from university and a week before I started my job.

Mantis3024

I didn't save any. Drove the stang in, drove the Z out.

Camel

I decided I wanted to get a new car 2 weeks ago and did it last Thursday. $1000 down, traded my other "weekend toy" and leased it for 60 months. Since I'll only be driving it at most 4000 miles per year, I'll keep it for about 2.5 years and get something else... we'll see what the GTR looks like...

FUCHAOWNAOFdaZ

iTrader: (1)

Yeah, but if I put the 5000 down now, I'll be paying like 390 just for the downpayment for 5 years. And I am still a junior in high school. So what do you suggest?

hypeiv

iTrader: (2)

what are your payments like? I don't know about leasing a car your not going to put alot of miles on b/c your paying for 3 times the miles your not using. When it comes time to turn the lease in and your way under your miles the car may be worth alot more than the buy out price.

as far as the original question goes. I would keep the $5000 and put down as little as they will let you. If your payments are 500ish a month w/ zero down you will be able to float payments for 9 or 10 months if you lose your job or something (b/c you have that $5k in the bank backing you up)... plenty of time to find a new job or sell the car. if you put 5k down and then make the 390 payment a month if you lose your job next week you may be stuck b/c you put all your savings into the car.

The only good thing about putting 5k down is you don't need gap insurance b/c your Z should always be worth more than you owe since you put a nice down payment.

Remember that owning a car like a Z isn't as cheap as just the payments. Gas is more expensive b/c you have to use premium... and more of it. Tires and brakes don't last as long as other cars. And its a good idea to use synthetic oil which is a little more than normal oil.

KeithZ

I didn't put anything down, financed taxes & all @ 4.75%

The dealer wanted to sell me gap insurance but if anything happens that puts me in that situation, I'll just come up with the 5-7000 then. Meanwhile, leave the investments alone. It does make for a good monthly payment tho.

LIdrew

I also did not save up. went in to Nissan for an oil change on my 99 sentra se. Was looking around on the lot while I waited. Looking at black 03 touring, took it for a spin, asked them how much theyd give me for the sentra, went to the bank took outa couple of Gs to put down and drove it home in a few hours. IMPULSE BUY. I have a question though. How can anyone ONLY put 4k miles a year on the Z??? That is not enough miles to even enjoy it. Might as well sell it. I'm struggling to keep it at 10k miles a year and I really only drive it on the weekend. Daily driver is my POS 95 corolla.

enriquez49

iTrader: (1)

I didn't save up...drove my 93 RX7 in and then drove out with a 2005 Touring Z. They appraised my RX7 for 10K, that was my down payment alone!!!!

bio911

took in my 02 toyota tundra and got a z...

mdacko

iTrader: (3)

no saving up, no DP. i had my eye on the car for a year though

Camel

My lease payment for the 35th which stickered at $37,000 and had an intake already, etc is $485/month. If the car is worth more than the buyout as you pointed out, then SWEET! I can sell it and make a profit by paying off the lease and keeping the rest. It used to be that 10 years ago, leases weren't a very good deal. These days, unless you are planning to keep a car until it's wheels fall off, there really isn't a compelling reason to purchase unless you get a 1% or less purchase finance rate. Just IMHO. Leases suffer from many misconceptions. Here are some facts in my experience (I have leased 7 vehicles):

- You will NEVER pay a mileage fee (or any other fee) unless you TURN the car back in. Meaning, you walk in, hand them the keys and then hitch a ride home and have no vehicle. You do not HAVE to turn the car in. You can: a. trade it in anytime you want to any dealer for any other make of car b. purchase the car at the end of the lease for a predetermined value (residual). c. Turn it in.

- You can trade a leased car at any time, just like a purchase. The lease has a payoff and the car is worth what its worth and you owe what you owe, just like a purchase.

- A lease by design will NEVER have negative equity if you drive the alotted miles and take care of the car. This is because you have agreed up front what the car is worth at the end of the lease term. If they tell you the residual is $10,000 and at the end of the term the car is as expected mileage-wise and condition-wise and is worth only $5000, you can run like he!! and it's not your problem. If the car is worth more than the residual, you could sell it, payoff the lease and make a profit.

- Most leases these days have built-in GAP coverage. GAP covers the amount of the vehicle that your insurance doesn't in the event of a total loss. My particular lease has this with the provision that my lease payments were paid current at the time of the incident.

- Out of 7 leases I have NEVER paid any mileage or other fees whatsoever. I always just trade out of the lease eventually sometime after about 1/2 the term is elapsed. I have also never lost alot of money doing this (depends on the resale of the car in question).

- Leasing requires a fairly high credit rating to get the best deals and approvals. Typically in my experience, if you are 700 or more on your score, you'll be automatically approved. My score was 766 when I bought the Z so financing never even came up as a concern.

- Several times I have had the experience that buying a more expensive car yields a LOWER lease payment. This sounds strange, but it has everything to do with residual value and the "sweet spot" on the lease deals at the time of purchase. My lease payment on a Z costing $6000 less would have only saved me $45/month because the expected residual on the 35th was alot higher. Odds are you can buy a nicer and more expensive car on a lease for less money in payments than you could on a purchase.

Hope that helps someone out there. This is just my personal experience.

myehrick09

iTrader: (6)

Just woke up up one afternnon after a short nap and decide to go to the dealership. I came home with a Z after 3 hours! No saving here.

badtziscool

5.25% is low?!? What kind of investments are you making in order to say 5.25% is low?

FUCHAOWNAOFdaZ

iTrader: (1)

Damn I'm so stuck now. Don't really know what to do. Have 5000 right now, I could wait till December when I have about 12000, but that will be a while, and I am so impatient. Plus everybody is telling me I'm gona crash it or get a ticket and I'm trying to tell them that I swear I won't just get reckless with something I have busted my *** for 2 years. Plus I tell them I will always obey the speed limit, and everyone is like, Yea right.
I don't get it. Are they jealous, or are they actually trying to help me out?

P.S.
I want a used 2004 or 2005 (2005 if I get it in December since the 06 will be out by then) enthuathist model. Red if it makes a difference.