Am I paying to much for the car I drive?
#21
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I pay $145 for two cars full coverage.
For my Z alone I paid around $70 for full coverage....the average person should be paying around $100 give or take a few bucks...anything more is RAPE.
#25
Registered User
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you guys have to remember that a lot of things go into insurance cost. Where you live has a lot to do with it. OP I'm close to your age and the insurance on my gto is exactly the same as yours with full coverage through geico. Everybody else quoted me at least 2-3 times what I'm paying now.The payment on my 04 gto is about the same as your payment also. I don't really drive much so my gas costs are pretty low. I don't think you're paying too much. Although the insurance on my Z is only $180 a month.
#26
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you guys have to remember that a lot of things go into insurance cost. Where you live has a lot to do with it. OP I'm close to your age and the insurance on my gto is exactly the same as yours with full coverage through geico. Everybody else quoted me at least 2-3 times what I'm paying now.The payment on my 04 gto is about the same as your payment also. I don't really drive much so my gas costs are pretty low. I don't think you're paying too much. Although the insurance on my Z is only $180 a month.
Does anybody do math before they make these kinds of decisions... just give me your money.
#29
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My mortgage payment is $750 a month. I would never attach the same worth to my Z and my 4 bedroom ranch house on 1.5 acres. My Z payment (with insurance) is 4.1% of my income. That's exactly how much my Z is worth to me - 4.1% of my income. I suggest you look at your own overall situation and decide what your Z is worth to you. Usually, if you ask a forum, you're spending too much.
#30
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so you totalled your old car. no big deal, it happens. did you only have liability coverage on it? Thats retarded if you ask me and tells me you really can't afford this car.
i also agree with the guy who posted above me about asking a car forum. chances are you already know you're spending too much, you just came on here looking for validation of your decision, which i doubt you'll get here.
i also agree with the guy who posted above me about asking a car forum. chances are you already know you're spending too much, you just came on here looking for validation of your decision, which i doubt you'll get here.
#31
350Z-holic
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If any of these "you're paying too much" responders would have bothered to read the link I posted earlier (https://my350z.com/forum/showthread....0&postcount=36) it would have become all to obvious why these comparisons are pointless.
#33
350Z-holic
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EXACTLY!!!!!
If any of these "you're paying too much" responders would have bothered to read the link I posted earlier (https://my350z.com/forum/showthread....0&postcount=36) it would have become all to obvious why these comparisons are pointless.
If any of these "you're paying too much" responders would have bothered to read the link I posted earlier (https://my350z.com/forum/showthread....0&postcount=36) it would have become all to obvious why these comparisons are pointless.
My mortgage payment is $750 a month. I would never attach the same worth to my Z and my 4 bedroom ranch house on 1.5 acres. My Z payment (with insurance) is 4.1% of my income. That's exactly how much my Z is worth to me - 4.1% of my income. I suggest you look at your own overall situation and decide what your Z is worth to you. Usually, if you ask a forum, you're spending too much.
Last edited by jerseystyle; 04-19-2011 at 01:55 PM.
#36
New Member
iTrader: (2)
Just to throw it out there, for a comparison. Even though it is even more off because I live in Canada. I just purchased a 2006 Z Base.
My payments for the car are about $290/month and my insurance is about $290 as well.
The car was $18,000 with $5000 down, 60months bi-weekly payments. And I am 20yrs old living at home, clean record, good credit rating (as good as it can be for a 20yr old).
And I know I couldn't have gotten a better interest rate no matter what, its a used car, it is what it is. But I will paying off the loan in under 2 years for sure. And I know what I pay for insurance is a steal compared to what young guys my age around here pay. It is ridiculous.
In the end is it worth it? Yes. Absolutely, if I wanted to save a couple hundred dollars a month, I'd drive a Cobalt...again.
Joe.
My payments for the car are about $290/month and my insurance is about $290 as well.
The car was $18,000 with $5000 down, 60months bi-weekly payments. And I am 20yrs old living at home, clean record, good credit rating (as good as it can be for a 20yr old).
And I know I couldn't have gotten a better interest rate no matter what, its a used car, it is what it is. But I will paying off the loan in under 2 years for sure. And I know what I pay for insurance is a steal compared to what young guys my age around here pay. It is ridiculous.
In the end is it worth it? Yes. Absolutely, if I wanted to save a couple hundred dollars a month, I'd drive a Cobalt...again.
Joe.
#39
Registered User
I've always thought transportation expenses should be less than 20% of after-tax income. You're paying over $700 a month for car payment and insurance. You need to add some property taxes, gasoline, and maintenance expenses to the $700.
So, I'd say you're paying too much for the Z unless you're bringing home at least $4000 a month.
So, I'd say you're paying too much for the Z unless you're bringing home at least $4000 a month.