just got my z like 5 or so days ago, brought cash paid in FULL, and now its time to turbo the *****!

 

What the hell do you people do that are paid in full? I guess if I really tried I could, but there are too many other things to buy.. eh whatever. Its worth every penny, even the finance charges...

 

16,000 thank god, just spent 1500yesterday on Nismo Kit Body kit, will put up pics soon

 

Not to hijack this thread. But how do people get upside down on a car anyway?
I know what it means, when you owe more than the cars worth. But why would you allow that to happen? How does it happen?

What happens when you trade in a car that your upside down on? Do you owe the difference? Or do they tack it on to your payments? I've only ever bought one new car, and I admit, Im not too savvy on it. Im putting 7k down on my Z so I would think that would help prevent me from ever getting upside down. Someone enlighten me? Please?

 

Never buy new.

 

Heh, little late for that. I know they say you can buy a 1 year old car safely, but Im just such a stickler for keeping my car well maintained. Hard for me to trust that someone else did the same before me. At least, thats how I am with my one new car. When I got my supra for a graduation gift from my mom, she also gave me every document for anything ever done for it. She kept it immaculate. That mentality has carried over to me every since.

So anyone else want to explain my previous question?

 

I owe 15K on my 04.5 Enthusiast. Will be paid off next month though

 

28k on mine got it in oct and will have it paid off within 3 yrs

 

BOFA
lol a 2 stroke Z thats awesome.


24k on my 03 touring, But I just bought it.

 

I owe about $34K.

 

Sorry..paid mine off already.

 

+1 here

 

Buying new will put you upside down the minute you drive the car off the lot unless you put a few grand down. That is why gap insurance is a good idea for a brand new car the first year. As much as I love and can afford a new car, buying slightly used cars is the best way to go IMO because the first owner already took the drive off depreciation hit. The only draw back to this is that you may not be able to take advantage of the new car's special financing rates. But if you have T1 (740~) or even T0 (780-820~) credit rating, it really wont matter too much. Also, paying above your monthly will help you get out of the red faster too. If you are upside down then you are responsible for the difference when you trade the car in. For example, if your new car loan is $20K and you had $3K negative equity in your old car, your new car loan will be $23K. This is how car dealers get you. A lot of time they will sell you the new car at the price you want but take the difference from your trade value. Or they will seem to give you more for your trade but make it up in the sales price. Many people care only about what the monthly payment on their car will cost them. They don't consider the final price of the trade as well as the new car. This how car dealers hide a lot of the numbers in their favor. When you trade in a car, the best way to look at it is there are two car deals + financing: 1 for the price of the new car and the other for the price of the old. Then at the end you look at your rate. It doesn't matter what the final price of the first two are, your qualifed rate is what it is regardless. Don't let the salesman say oh we can't finance you if we sell the car too low. What they are saying is we don't want to sell the car below this price at this rate because it will dip us below the profit margine that we want. They should all be viewed separately. When I trade a car in, I tell the sales guy I do not want to look or talk about the new car until I am happy with my trade value. I also never ever talk monthly payments. If you have half a brain you should understand that the math will work itself out when the sales price and APR are where you want it to be in your budget. If not then you are in too much car. Also, Leases generally 9 out of 10 times will carry over negative equity. That is why when people lease over and over they roll their negative equity along with it too from one car to another. Another way to avoid being upside down is to pay for your TTL, warranties and/or options separately.

 

i owe around 18k on my 06 touring

 

Thanks JDM,

I think by putting 7k down on my Z, and making 3k dollar monthly payments should keep me from being upside down on it. At least, thats what my wife and I have planned. Assuming I can stay here in Afghan long enough to make that happen.

 

Well when we bought my wifes Xterra I traded in a 05 Scion tC and took a $5K hit on it. The roof had a lot of rattling problems and you could hear the glass shifting and popping constantly. I tried to work through it with Scion but they were a bunch of bumbling idiots and I lost patience. Good thing there was a 3K rebate and 1500 off as a "business partner" discount. But still upsidedown nonetheless. 6 mos later Scion released the recall... b@stards...

Its okay, because it evetually led to me getting the Z.

And no, with 7K down, good maitenance and low mileage you may very well never be upside down...

 

Becareful. 7K down is a good amount that'll get you out of the red. It is ideal to pay the car off asap but with a 3k/mon payment you may want to see what else you can do with that money. The only way that'll make sense to pay that much per month is if you can not get greater returns investing it somewhere else to offset the interest on the car. Depending on what your credit rating is, on new cars you can still get up to 3%. That is easy to beat if you know where to put that 3k per month.

 

owe 23K on my 04 with Nav. working hard to pay this thing off....

- j

 

2nd that one for sure. I've never been good with buying a pre-loved sports car, you never know what's happened to it pre you.

Value on 350's in NZ has dropped substantially. They were 74k NZ$ in 2004 when I purchased mine, you can now pick up a pre-loved 2004 from 30k - 44k. Now that's the most massive depreciation on any new vehicle I've ever owned. They are about 74-76K depending on the model now, having said that I saw an 06 with 8k on the odo for 49K. 20k hit in less than a year. Ouch!!!

So technically everyone that purchases a pre-loved 350 is way smarter $$ wise.

 

oh $h*t this is my first post and i will be honest

04 base 32K OUCH!!!!!