KManZ

iTrader: (8)

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

TUNER350

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

KManZ

iTrader: (8)

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.

TUNER350

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

KManZ

iTrader: (8)

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.

jimmyloose

iTrader: (22)

usaa.com

I got 6.24% on a USED Z.

They'll help you out..

oh, and I have moderate to bad credit.

jimmyloose

iTrader: (22)

and they gave me rediculously cheap insurance.

KManZ

iTrader: (8)

I do have USAA. Gotta love the military.

davidv

iTrader: (2)

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.

jimmyloose

iTrader: (22)

+1

KManZ

iTrader: (8)

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.