trade Z for s2000?
#41
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there is no way you owe what the car is worth in only 5 months of payments unless you put a huge down payment. Either way its a bad move to get out of the car so soon. Dealers dont use kbb they use galves which is much lower. You would be taking a tremendous loss. Your not figuring out the financing correctly. To even think you can get out that car so soon your not thinking logically or had no real reason to buy it.
#42
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there is no way you owe what the car is worth in only 5 months of payments unless you put a huge down payment. Either way its a bad move to get out of the car so soon. Dealers dont use kbb they use galves which is much lower. You would be taking a tremendous loss. Your not figuring out the financing correctly. To even think you can get out that car so soon your not thinking logically or had no real reason to buy it.
I got the car for $23,000 .. paid off about $1600 / $400 interest so far .. so that leaves me with $21,400 which is around the KBB for trade in
Maybe one reason is when I bought the car the papers said "Enthusiast" 350z .. but it is a Touring model with every option except navi .. so that might of knocked the price down a little
I bought the car when I got a full time job and have plenty of money to pay for the car .. but now 7 months later I'm thinking of going back to college ..
anyways .. if I have to take a huge loss on the car I'm not trading it .. the payments aren't impossible to make if I move to a part time job with college .. just was thinking of lowering my payments by trading it for a older slightly used s2000 ..
#44
Oh so you want your cake and it too basically?
Forget the flashy car for NOW. Sell EVERYTHING, buy a used Civic/Accord/Mazda, get your degree, good job THEN get the flashy car. Just my .02.
Forget the flashy car for NOW. Sell EVERYTHING, buy a used Civic/Accord/Mazda, get your degree, good job THEN get the flashy car. Just my .02.
#45
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hell yea I want my cake and EAT it
I'm gonna keep the Z .. its got everything except navi, brand new, 07 HR, got a decent deal on it, etc
Drove to the auto parts store earlier to get a spring compressor for the front struts .. I'm gonna go ahead and finish putting the S-Tech springs on .. got the rears on and it looks a heck of alot better now
then might put in a shift kit and be done with the car until its paid off .. heck if I work for it whilst i'm in college, it will be pretty much paid off by the end .. so it'll sorta be like a graduation present .. no more car payment and move on to a college loan payment (unless I get hired somewhere that will pay for it which would be awsome)
anyways .. waiting for my friend to bring me a stronger impact gun to get the nut off the top of the struts ..
as for sell the Z and get a civic .. sorry ... I'd pay $400 / month to not drive one .. dont want to pull up to college and have people asking me what awsome mods im going to do to so I can beat the kid with the new 350z across the parking lot
I'm gonna keep the Z .. its got everything except navi, brand new, 07 HR, got a decent deal on it, etc
Drove to the auto parts store earlier to get a spring compressor for the front struts .. I'm gonna go ahead and finish putting the S-Tech springs on .. got the rears on and it looks a heck of alot better now
then might put in a shift kit and be done with the car until its paid off .. heck if I work for it whilst i'm in college, it will be pretty much paid off by the end .. so it'll sorta be like a graduation present .. no more car payment and move on to a college loan payment (unless I get hired somewhere that will pay for it which would be awsome)
anyways .. waiting for my friend to bring me a stronger impact gun to get the nut off the top of the struts ..
as for sell the Z and get a civic .. sorry ... I'd pay $400 / month to not drive one .. dont want to pull up to college and have people asking me what awsome mods im going to do to so I can beat the kid with the new 350z across the parking lot
Last edited by Adrians07Z; 09-19-2009 at 02:04 PM.
#46
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I was also recommending you to get a cheapo beater while you're in school.
However, saw your post stating that you have made a decision. Glad you ironed it out.
However, saw your post stating that you have made a decision. Glad you ironed it out.
Last edited by 2ndname; 09-19-2009 at 09:42 PM.
#48
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I had the springs before the idea of trading the car to lower the payments ..
I'm not concerned about money right now since $185 is pocket change with a full time job .. but next year I'll be concerned when I DON'T have full time job
Plus the damn front tires are chewed the hell up already on a brand new 07 Z ... and Nissan won't do a damn thing about it except a free alignment if I buy new tires from the dealer (HA!!) .. so I figured why not put some springs on since I have to get an alignment anyways ..
that was another reason I was thinking of trading the car in .. I find it pretty damn stupid to have to get alignments every few thousand miles or buy new front tires every 10,000 miles ???
I'm not concerned about money right now since $185 is pocket change with a full time job .. but next year I'll be concerned when I DON'T have full time job
Plus the damn front tires are chewed the hell up already on a brand new 07 Z ... and Nissan won't do a damn thing about it except a free alignment if I buy new tires from the dealer (HA!!) .. so I figured why not put some springs on since I have to get an alignment anyways ..
that was another reason I was thinking of trading the car in .. I find it pretty damn stupid to have to get alignments every few thousand miles or buy new front tires every 10,000 miles ???
Last edited by Adrians07Z; 09-20-2009 at 11:58 AM.
#49
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Yes folks, we live in an age of instant gratification. What happens in 5 years when the student loans come due and a 6 figure job isn't handed to him. My prediction, Mom and Dad will bail him out.
Good news: The OP isn't any worse than many his age (including my own son FWIW).
Bad news: The OP is typical of many his age.
Seriously, good luck with the car, school, and life in general.
#50
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Sorry but I've come to find out the warranty on these cars isn't worth a $hit .. I bought a "new" car because of the "warranty" and I wont have to fix every problem that comes up ..
and first problem I run into .. "oh the warranty doesn't cover that"
and why is buying a new car stupid as hell? .. If I'm working full time and making 35K / year .. why not drive a new car ??
the college idea has only been a recent one .. way after me buying the car
Last edited by Adrians07Z; 09-20-2009 at 12:04 PM.
#51
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The new car/used car conversation isn't relevant here because you don't own a new car. You bought an '07 in '09, so that is used. And 35k a year before taxes isn't exactly a lot of money. That is used car kind of money.
#52
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and 35k / year is why I'm thinking of going back to college
The End .......
and they lived happily ever after
#53
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Let's just pretend you bought it for $27k. After 3 years of owning that car, it will be worth about $17k (assuming that the Z holds it's value better than most cars, not a safe assumption btw). So, owning that "new" car (and it is only "new" the first year) costs you $10k over 3 years.
If you bought a three year old car for say, $15k and owned it for 3 years, it would be worth about $10.5k when you got done. It would have cost you $4,500 to own that car for three years vs, $10,000 to own the new car for three years. A new car is going to cost you twice as much to own as a 3 year old car. More if the car depreciates at an average rate or worse.
The less time you own a car you buy new, the less worse the depreciation hit is.
BTW, none of that takes into account the effect of interest. Borrowing money on a rapidly depreciating asset like a car is another bad idea.
I'm also confused by your income since in one post you wrote $25+ a year, and now you are saying $35k/year. Big difference.
In any event you can make the payments, but that doesn't mean it is a good financial decision. However, we make bad financial decisions all the time because we see other things as being more important. Folks give lots of money away to charities and churches. That isn't a great financial decision, but it is a decision that reflects their personal values. Other folks spend huge amounts of money on sports tickets, vacations, fine wines, etc... none of those are good financial decisions but they reflect their personal values. Heck, other folks spend huge amounts of money on cigarettes because slowly killing themselves is more important than saving money. Buying a new car, as opposed to a used car, simply means that something about a new car (status, smell, thrill, etc...) is important enough to make it worth lighting a match under a whole pile of bills.
I'm not even going to hazard a guess as to whether you live at home with your parents nor who is really paying for insurance.
Recent or not, college is a GREAT idea. If you have the interest and aptitude, you should go for it. I guess the underlying current you see from me and a few others, is that while your in college it is not the best time to be saddled with debt. Debt has a way of limiting your options.
#55
I'm still in college and i bought my Z back in February. 2005 40k miles for 13k, was a pretty decent price. I had a part time job at the time (25hrs/week), but it was enough to make the payments.
Late May when school ended, i requested to work full time, luckily they gave me full time position and i went crazy lol. I spent around 5k on mods... Little did i know that the full time position was temporary only, and by the end of august they cut my hours down to 30 (little more than before but yeah)
So now im paying a 15k loan + i still owe 3k out of the 5k used for the mods.
Going to college (full time student) working 30hrs a week and during the weekend i fix computers for some extra cash. I've often found myself overwhelmed as i have literally no free time, and lots of work/homework/tests to do.
Sure im driving the car of my dreams (at a very early age too). But i feel im missing out on alot of things a college guy would normally do. I don't have time to go out, i always have to turn down my friends when they invite me over to drink or to a party, im always either working or studying...
Hate the feeling, but im a few semesters away from finishing, so i'm not selling the car. I have no problems making the payments, but if i had waited i wouldn't have to work, or at least maybe i could work less hours.
While i really love my Z, i regret not waiting until i finished school. I Made a wrong choice, and now im paying the consequences. Don't make the same mistake, finish school first then buy a car, maybe you'll make enough money to buy a much more expensive/better car
Late May when school ended, i requested to work full time, luckily they gave me full time position and i went crazy lol. I spent around 5k on mods... Little did i know that the full time position was temporary only, and by the end of august they cut my hours down to 30 (little more than before but yeah)
So now im paying a 15k loan + i still owe 3k out of the 5k used for the mods.
Going to college (full time student) working 30hrs a week and during the weekend i fix computers for some extra cash. I've often found myself overwhelmed as i have literally no free time, and lots of work/homework/tests to do.
Sure im driving the car of my dreams (at a very early age too). But i feel im missing out on alot of things a college guy would normally do. I don't have time to go out, i always have to turn down my friends when they invite me over to drink or to a party, im always either working or studying...
Hate the feeling, but im a few semesters away from finishing, so i'm not selling the car. I have no problems making the payments, but if i had waited i wouldn't have to work, or at least maybe i could work less hours.
While i really love my Z, i regret not waiting until i finished school. I Made a wrong choice, and now im paying the consequences. Don't make the same mistake, finish school first then buy a car, maybe you'll make enough money to buy a much more expensive/better car
#57
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drop out of school and mod the Z FTMFW!!!
haha .. haven't even got to school yet
anyways .. I make around 35K a year before taxes right now .. around 25 or so after taxes .. I'm on commission so it varies
as for my Z ... I "paid" 23K which is on a loan .. after I make all 72 payments ..it will be close to 30K (just above 6K interest) .. so thats where I got the 30K
I know it may not be a "good" idea to have a car debt while starting school / starting another bigger debt (school) .. but I worked out whether I keep my Z and drive it till its dead or buy a used S2000 for half the cost and drive it till its dead .. either way I'll end up spending the same amount of money per how long the car lasts
Plus right now I have a car that I know the history of since I got the car with 3,000 miles on it .. so I'll just work to pay if off and then enjoy it until it dies
my brother has a couple 280zx's .. damn cars will never die .. we got a couple out of fields before and they cranked right up after a fresh battery and a couple fusible links .. and his daily driver is a 260K miles 1983 280zx which I painted the same color as my Z
the main reason I bought the car in the first place is b/c of the reliability of Nissan
so IF everything goes right I'll start college in January and get a part time job to pay for my the Z and whatever is left use for college
that way the Z will be almost payed of by the end of college and the school loan will take its place basically and I "should" have a better paying job then
as for insurance and living at home with the parents .. I pay for both .. just cut a check for insurance till this time next year $1200 .. and $450 / month rent to help my parents out some
haha .. haven't even got to school yet
anyways .. I make around 35K a year before taxes right now .. around 25 or so after taxes .. I'm on commission so it varies
as for my Z ... I "paid" 23K which is on a loan .. after I make all 72 payments ..it will be close to 30K (just above 6K interest) .. so thats where I got the 30K
I know it may not be a "good" idea to have a car debt while starting school / starting another bigger debt (school) .. but I worked out whether I keep my Z and drive it till its dead or buy a used S2000 for half the cost and drive it till its dead .. either way I'll end up spending the same amount of money per how long the car lasts
Plus right now I have a car that I know the history of since I got the car with 3,000 miles on it .. so I'll just work to pay if off and then enjoy it until it dies
my brother has a couple 280zx's .. damn cars will never die .. we got a couple out of fields before and they cranked right up after a fresh battery and a couple fusible links .. and his daily driver is a 260K miles 1983 280zx which I painted the same color as my Z
the main reason I bought the car in the first place is b/c of the reliability of Nissan
so IF everything goes right I'll start college in January and get a part time job to pay for my the Z and whatever is left use for college
that way the Z will be almost payed of by the end of college and the school loan will take its place basically and I "should" have a better paying job then
as for insurance and living at home with the parents .. I pay for both .. just cut a check for insurance till this time next year $1200 .. and $450 / month rent to help my parents out some
Last edited by Adrians07Z; 09-21-2009 at 03:06 PM.
#58
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^+1
Please don't take this wrong but:
-Going back to school now is probably the smartest thing you could do at this point.
-Having any kind of car payment is probably the stupidest thing you could do at this point.
Get rid of the Z and buy that beater Honda. Get your education. Get a job. Save some money. Then buy a more "fun" car when you can really afford it.
Please don't take this wrong but:
-Going back to school now is probably the smartest thing you could do at this point.
-Having any kind of car payment is probably the stupidest thing you could do at this point.
Get rid of the Z and buy that beater Honda. Get your education. Get a job. Save some money. Then buy a more "fun" car when you can really afford it.
Last edited by PerfZ; 09-21-2009 at 04:07 PM.
#59
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my brother has a couple 280zx's .. damn cars will never die .. we got a couple out of fields before and they cranked right up after a fresh battery and a couple fusible links .. and his daily driver is a 260K miles 1983 280zx which I painted the same color as my Z
the main reason I bought the car in the first place is b/c of the reliability of Nissan
the main reason I bought the car in the first place is b/c of the reliability of Nissan