D@ActiveTuning

iTrader: (17)

Alright here's the deal....I originally was planning to factory order a 2004 350Z. It would take about 2-3 months to arrive, but it would give me a pretty good amount of time to sell my car *SHAMELESS PLUG 03 3.5 Altima 5-Speed LOTS OF EXTRAS END SHAMELESS PLUG *. After selling my car, I was planning on putting $20,000 or a little more down on the Z and loan a little under $10,000.

BUTT, the dealership just called and said they found one exactly like I wanted in CT. They could have it to me basically right away...but I still have my car, as I was expecting to have a while to sell it.

So as my alternative, I can take the Z now, loan $30,000, 1st payment isn't due until 45 days..so I'd have 45 days to sell my car and basically pay off at least $20,000 of the loan.

My mom would have to co-sign this in order to make sure I can get the low interest (I don't have bad interested, just limited)....I talked to her, she doesn't really want to loan $30k...But I could still possibly convince her.

One of the upsides to getting the car now would be that I when I sell my car I have another car to drive right away. If I waited, I don't know exactly when my Z will arrive, so it would be kind of hard to sell my car within the appropriate timeframe.

What do you guys think I should do? I can't get a $30,000 loan on my own without a co-signee...although I could get a $10,000 loan just fine (which my mom would have no problem co-signing anyway).

NismoKid

I'd probably order one and wait. By that time, you probably wouldn't need a co-sign to finance and you'll have the $20,000 to put down. That's just my 2 cents.

The Brickyard Rat

iTrader: (1)

Wait until your car is sold.

D@ActiveTuning

iTrader: (17)

Well I would still co-sign even with $20k down just to get the low interest rate.

Nothing

Don't put your mom in a hard position by asking her to co-sign for a $30,000 loan against her better judgement. She'd probably do it for you out of love, but be a bigger man and don't ask it of her.

Order the car new... you'll get it w/o anyone else having test driven it, with about 7 - 13 miles on it. This will give you some time to prepare to sell your car and negotiate for the best price rather than probably having to accept a lower price by needing the money fast.

Also, it's winter and it will stay winter for the next 2 - 3 months... you don't need the Z in the winter and the car will be better off getting broken in during the spring / summer.

I know you're excited about getting it, but the wait will make it all the more satisfying when the car finally arrives!!!

N.

yohud

Amen to above. List your car now. It MAY sell quicker than you think. You can still have the option of getting one now available - or - ordering one. Your best deal might be in a window starting now until mid-March, after that sales will get stronger again.