Hey everyone,

Its about time I started getting back into the Z community after a near 2 year hiatus In about 2 months, I am graduating with a BS in Information Technology from George Mason! Its a BIG accomplishment for me, and after settling for poverty line living standards for the past 4 years (8 years if you count the Marine Corps!), its time to move upwards and onwards! I am standing by on word concerning a permanent position at my temporary job, so my employment is nearly a guarantee... regardless, if it doesn't work out, it won't be a problem getting a job in this area!

Anyways... I had a Z back when I was in the Marines, but I got rid of it so I could pay for school. Since then I have been driving a Honda Prelude: nice, nice car, but the Z was my first love, and I still feel lonely without her! The Prelude has back seats and a sunroof though, and since driving it my motivations changed: I wanted a G35C. But not anymore. The Z has bull rushed it's way back into my good graces, and there is no longer any doubt that I want a Z again! An 07 Daytona Blue Enthusiast. End of story!

There is a problem though: my credit. Credit was great up until the lack of a full time job + full responsibility for my own payments (college, rent, previous ignorant debt) + the car payment w/ insurance took me under. I don't know how I did it, but I made it through 2 years of full time college with that financial burden! It was depressing, I was starving, and the Z had to go. I made the stupidest mistake of my life thus far: I voluntarily let Nissan repo the car. I was stuck in a lease, and couldn't sell the car for what I owed. Even if I had sold it, I would still have the huge car payment until I paid off the residual. So I repossessed it to buy me some time.

So... since then, I have caught up, paid off the residual, got my **** together, got a reliable used car, and am finishing school. I learned the hard way, but I learned! My credit is pretty bad, but its improving.

After I graduate and start working full time, what am I going to need to do to achieve my goal of owning my Z again? Obviously I can't finance this thing on my own, thus I need a co-signer. Will Nissan hold a grudge against me for my past transgression? I have my Prelude, which has an excellent retention of value (I could sell it for what I paid for it). All in all, my debt to income will be excellent... I am ready for the responsibility again, and this time things will be better!!! Constructive input would be greatly appreciated!! Thanks!!!

Matt

Give me some input

 

i think what you might have to worry about is high APR=higher payments but ya you do need a co-signer to help you out i think?but ive seen alot of people that get their cars repod and go down the next yr and buy a new one off the lot, but there is a really nice guy on here he is a finance prson for toyota i think i hope he chimes in, he and alot of people on here can help you out more than i can but good luck with everything also check to see if nissan has any graduate specials that they can help you out with on purchasing your car

 

Thanks alot for your reply Tuner350!

I actually sold Nissans right before I started school... at the same place where I bought the car a few months before! After I got in, I asked to see the details of my sale file, and they mysteriously couldn't find it. But I had friends in finance, and he said I got mortally raped on both ends

I definitely am going to use the Recent Graduate Special to help me achieve my goal! When I sold, it was only $500 off, but hell, every little bit helps! I also have a couple of close friends that still sell cars that can help me out. I just want to know what I need to do with the blemishes on my credit report.

 

how many credit cards do you have if you dont mind me asking?

 

When I got rid of the Z, it was a financial collapse of Soviet Russia proportions. I got rid of all my cards (all but 1) and started paying off my debt. I went without a car for almost 6 months before I got the Prelude But I discovered that closing those old cards wasn't the best move... so I recently got the confidence to obtain 2 new credit cards. So I technically have 3, which I use and pay on time every month. My score is climbing back up, albeit slowly.

 

usaa.com

I got 6.24% on a USED Z.

They'll help you out..

oh, and I have moderate to bad credit.

 

and they gave me rediculously cheap insurance.

 

I do have USAA. Gotta love the military.

 

Sometime ago I had a car repossessed. I could not get credit for 7 years. Not even a credit card. Nothing. Those 7 years turned out to be a blessing in disguise. I paid cash for everything. It forced me to live within my means. A lesson that I have practised since then.

That said, cash trumps bad credit. Put half down, and I guarantee you will find a lender for the balance.

 

+1

 

Man, I feel you on paying cash for everything. I haven't made a big purchase in years I definitely have learned my lesson.. now I want to prove to myself that I can handle the responsibility that I could not before.