Okay. Let's start this by telling everyone what I drive. I'm 21 yrs. old, this is my second 350z that I've owned. The first one was a no fault accident due to bad weather. Anyways. I purchased my current Z from a friend through private financing. I bought the car for $17,000. My current monthly payments are $395 a month for the next five
years. My insurance is $1700 six month premium with $314 a month payment.

The car is a 2005 Z with 49,000 currently. 6 speed, no brembos, pretty much a touring.

The question. Am I paying to much for my Z?

 

All relative to YOUR situation.... to many factors for US to make that decision. I would say spending $700 for any car a month is too much, especially a 6 year old one.

 

By the end of your term you'll have paid over 23,000. Are you in school? Do you have a steady job? How is your housing situation? Bills?

 

I agree.

 

Yes. No. Maybe. Pick an answer. Start by defining "too much".

Read this first ... https://my350z.com/forum/showthread....0&postcount=36 ... then maybe you'll understand the futility of asking this question.

 

Yea. Exactly why am I paying 23,000 for a 6 year old car.
Not in school. Full time worker. Steady job indeed. Live at home with parent. 2 credit cards, phone bill, electricity, etc.

 

No such thing. Sounds like "Driving too fast for conditions"

Like above said, define "too much". If you love the car and it's worth it to you, well that's all that matters!

 

ur insurance payment sucks.

but if you really boil it down, i would have paid 50 grand for my car if id have ran the loan term out. Luckily i didnt, but still.. but at least i had a brand new car for those years... im only now getting into having to replace things at 100k miles.

So it boils down to this, sounds like your insurance is going to suck no matter what.
So would you rahter pay 700 a month for your "old Z", or pay 150 a month to drive a bucket 1984 toyota pick up truck..

personally my credit sucked.. they wanted to sell me a sentra for like 400 a month.. why spend 400 on crap wheni can pay 600 for a Z... for me it was worth it.

For you, maybe not.. up to you.

 

im paying about 750 for my 08 Nismo and im in the exact situation as u but it depends how much u make and how much u pay out...

 

I see an RSX in your future

 

Wow! Did you put anything down? I was right at $700 a month with nothing down but I refinanced and now I pay a tad over $500 a month.

 

Hahahahaha that made me giggle.

I'm liking everyone's opinion. Thanks for the input so far.

 

I mean insurance and all...car payment is right at 425 and insurance is 270..

 

your insurance payment BLOWS.

what kind of interest did you get raped with paying $395 on a 17k loan for 5 years? that is like 19 or so %....

 

Wow you pay a ton for insurance! I'm 18 male with an 04 that I bought for 11k cash and I pay $215 a month for full coverage... So I would think that yeah, you are paying too much...

 

Raped. No lube.

 

That comes to $8,140/year plus fuel, routine maintenance and repairs.

So what can you do? Drive a RSX?

 

That's a hefty insurance payment.

 

The original poster should have asked for advice before making the purchase. Now that it is a done deal, it may not be easy to undo. The big question I have is what is "private financing"? Is your friend carrying the loan? Did your parents loan you the money?

You can't really do anything about the price of your insurance so you just have to live with that.

 

Like everyone has said so far, you're paying way to much! I'm 24 and my monthly payment is $120 for full coverage and a $500 deductible.