Well, today was bonus day in the investment banking world... and I have a nice paycheck to play with. I've been obsessing over the Z for almost a year now... but now that I finally have the cash, I'm NERVOUS! $40,000 is a lot to hand over at one time!!! (track fully loaded) I've never owned my own car before... I hope the Z is the right choice! I just can't decide which color!!!

N.

 

i don't think id pay cash for the car, minimum down payment ... then take the rest of the cash and invest it.

 

I wouldn't pay cash for it. Determine what you want to spend for a monthly payment and then put the appropriate amount for a down payment. You should be able to find some good financing rates out there. Good luck!

 

But I'm not sure I can earn more money on interest (+5%) than I would be spending on financing the car (+5.5%), so doesn't it make sense to not give away money by financing it?

Just out of curiousity... what is considered a good financing rate for a car right now?

N.

 

they wont give you a great rate on the Z..should be somewhere in the High 3's

 

High 3's... that's it??? On the Nissan site they automatically default you to 6.0%??? I was wondering about that... since even mortages can be gotten for < 5.25% these days. hmmmm.
N.

 

Dont buy a new Z, get a used one, this could save you thousands.

 

I only put a 1/3 down to get a monthly payment I was comfortable with. You never know when you might have an unforeseen expense come up. If I had $40,000 I’d bank at least half. Of course, if you already have emergency funds in savings, or are wealthy pay all cash.


I haven’t checked auto rates lately, but I’m sure they are under 5%. And putting a large chunk down you should be able to get a good rate.

 

Thanks for the advice... I'll take it into consideration... I guess I could aways pay off some student loans @ 4.0%

N.

 

I paid cash for my Z. It depends on what you're going to do with the money if you don't pay off your car. If you are confident that you can get better return than the car loan interest, invest it. otherwise, I have no reason not to pay cash.

Do your calculation wisely.

 

apr thread

https://my350z.com/forum/showthread....threadid=44994

 

I paid cash for my Z but added about half of the $$$ to my first mortgage. Anyway, have you considered other less expensive models (i.e. performance). Just wondering.

 

nah... if I'm going to buy a Z, I'm going to do it all the way and get the fully-loaded track. However, I was just over in London the past 4 days and got to ride in a GT3 RS Porsche, supposedly one of the fastest road production cars in europe... it kind of turned me on to looking at porsches...lol... but I think that's too much money for me
N.