Evansblue787

Ok hi guys this is my first post so I'll introduce myself, My name is David and I currently drive a 1988 Nissan 300zx Turbo and a 1990 Nissan 300zx NA. I've been a member of the 300zxclub.com forum for awhile now but am hoping to move on over into this forum. Ok heres my situation and I would like to know what are your guys opinions. I'm in the market for a 350Z. I have a credit score of something like 630 or so due to being 19 and having very little credit history. I have been trying to get a 350z for awhile now but have just become completely serious about it after a promotion at my work (Quik Trip.) I make $1,500 a month. I am wanting to get rid of my Z31 turbo and upgrade to a 350Z. I'm currently trying to sell it. I have a perfect driving record and take amazing care of my cars. I'm just curious on what is the best route to take on getting my dream car? I'm saving up money to put along with my trade-in but right now I have none. Am I heading the right direction and it just takes time or is there anything else I can do? Thanks in advance guys.

Entaille

iTrader: (16)

do you want to spend nearly half of your income on a car? you dont have other priorities ?

have you called and gotten an insurance quote yet?

Evansblue787

Yes I do want to spend nearly half of my income on a 350Z. The only other priorities I have is my cell phone ($80/month), gas ($200/month), and Insurance ($90/month) So I can afford a pretty heavy payment and my insurance said an '03-'04 will be about $200 or so a month. I would like to get the car loan now while I'm young and have no other priorities and use it to build my credit, so when I pay it off I'll be about 23 and will be able to move out and have great credit to do so.

Entaille

iTrader: (16)

you aren't listing priorities, you are listing bills.

I moved out when I was 18, I guess my priorities were different. at least you've already priced it out, props for that.

I expected your insurance quote to be higher but I guess when 3 other people in the state own a vehicle, the risk for collision is slim to none

it depends on how quickly you want the car. what sucks is you will find it difficult to obtain any sort of loan, and a co-signer will not build nearly as much credit. you don't have any credit cards, gas cards, dept. store cards, anything that would start establishing credit? I recommend opening up a couple of accounts, it will help in the future, length of time for an open line of credit is a large factor in showing your creditworthyness.

lucky for you, an 03 350z with miles can be had for around 10k now.

Fignutz

use both cars as a trade in and c if u can get financing and just FYI expect half if not more of ur paycheck to be spent on car payments + insurance

laxplaya1385

iTrader: (6)

yeah..i definitely would not spend more than 1/2 my paycheck on a car payment. You should save up that money.

Evansblue787

Yeah I understand what the payments will be and I'm completely ready to be paying that much on a vehicle that I will love. Yeah my main priority isn't moving out right now. I want to build my position at my work first. My insurance is very cheap because I had a's through highschool and went through a drivers Ed course. I'm under my grandma's insurance policy and she has 6 or 7 vehicles on her policy so that also helps.

Evansblue787

I also have been with my bank for 4 years with a checking account. I got a credit card through them about 8 months ago and I am using that to establish some credit. That is how I have the little credit that I do.

davidv

iTrader: (2)

No money. This could be a problem.

SoldzMyZ

iTrader: (11)

Dude go to school and get a degree. Judging by your current financial situation, your gonna be staying at your parents for the next decade.

Plus, 200 A MONTH on insurance!!! Are you kidding me??????? Jesus!!!! That's money down the drain.

Boba

iTrader: (21)

Thanks for telling me all the additional personal information like where you work at, what your other bills are and how much they cost... You aren't going to get a better answer here on the forum because quite frankly, you already know it yourself........

First, how much can you sell your current car for, and what is your budget for the Z? Do that and find out how much you still need for the car. Put in about ~$2,000 a year for insurance as well and estimate how many years you will own the car for (do a 5 year estimate). That's ~$10,000 on insurance alone for 5 years. Do you honestly want to be without a college degree at age 25 and still working a $1,500 part time job for a 350z? Hell I wouldn't even do that if it was a Ferrari.

What are your goals in life? Are you going to college right now? Are your parents funding you or are you getting any governmental funds? If you're going to college right now, how fast do you want to graduate? Do you want to graduate ASAP and find a decent job, or do you want to spend more time in there while working part time and getting paid only $1,500? Unless you are a college graduate, employers will only pay so much to someone with HS diploma.

If you do get the car right now, what are you going to do if your employer suddenly fires you? How will you keep up with the financial payments? If you're going to turn to your parents for help, why not just borrow the money from them at the start and pay them back in the future in whole? This way, you quit your current job and concentrate on getting a college degree and perhaps get an intern or something.

Seriously... Just take a moment to think and ask yourself those questions and you will find the perfect answer on your next step.

SoldzMyZ

iTrader: (11)

Boba's speaketh the truth!

I personally got my Z after undergrad at 23 years of age, worked two years, went back to grad school. Now debating getting an s2000 and saving up for a house at 27. Hopefully I can get a vette when I am in my early 30s.

Its your decision so do what ever you want, but as enthusiast who love our cars, the sensible thing to do is concentrate on your career, cause spending that much money for a car plus FREAKING $200 a month on insurance is insane when you make $1500, (which no offense is chump change).

winchman

+1 on forgetting about the Zs, and going back to school for a degree. I left the working world at age 46. I didn't even know (or care) what my credit score was. Still don't.

I can guarantee you that wouldn't be the case if I had been messing around with high performance cars when I was your age.

Evansblue787

I am graduated out of highschool and I am not going to college. I work full time at Quik Trip. Honestly, I was planning on staying at Quik Trip and making a career out of it. My boss, with no college degree, makes 60,000 - 70,000 a year and I have no idea how much my division manager makes but it's way more than that. And by the time i'm 23 I'll be moving up through the manager spots making way more than $1,500 a month. I love my job so why not stay with it?

winchman

I thought I loved my job, too. Matter of fact, I kept working a couple years longer than I needed to for that very reason. Turns out I loved not having a job a LOT more.

Right now you're at the bottom of the wide ladder moving up in the company. That ladder gets very narrow very quickly. Good luck.

dynamic21

I'm 22, just graduated with my bachelors in computer engineering, and I am making 75k/yr lol gg. Go to college, kids.

F34RL355

^i didnt go to school and just started a business now i make more then that., start a business, kids.

hellsoldiers08

iTrader: (3)

Both Dynamic and F34Rl355 are right, Either start a Personal business or Get that degree because waiting 10 plus years to get 70g when you can have it at 23+. Honestly i know your excited because you have a chance to get a Z but if you make a mistake how would you feel when you have to sale the Z because you cant afford it?? If i heard right shouldnt a car not be 1/4 of your monthly earnings?

MaelstrØm

75K a year is still not much. Owning your own business is the way to go.

I'm curious as to how much people are paying for insurance and through whom - I pay about $1050 per year for the Z, and I have a good record.

Swimminggerman

Same situation. making simmilar to chump change take home of 2100. (Teaching dont pay sh*t) and going back for my masters. I paid off the car by picking up a second job for cash and worked my A** off big time over a year saving up about 6k from that 10/hr job to finish paying off the z. moved back to the mainland and shipped the car.
focus on the future man. if you are going to school and have money saved for that or put away then fine, or if you have a journeyman position lined up or are currently in good. but dont spend you money on the car. i dont have anything done to my car like half the guys on here with wheels, boost , body kits etc etc. Im VERY envious and jealous. but Id like to make sure i have money for school prior to my car, so yet again she still sits and waits. If your really into getting a Z, i listed mine up for sale (entertaining the idea). LMK