Hey guys, I am looking for some friendly advice to see how i should go about getting my z. Being a full time student and only 21 i am going to need payments that are affordable cuz i know insurance is going to kill me. How much did you guys put down and how much are you all paying monthly?

Also, does anyone have the auto z with the manual shift mode? Was wondering if you can control the HP of the Z the same as a stick?

Every bit of info you guys can give would be awesome.

Thanks, phil

 

if u want brand new.....and affordable payments...that depends on your income...if u wan a 300 dollar payment on a new Z....u mite want to try and lease......and hopefully u have a 680+ credit score.....and u will still need to put down about 4K...if u want to purchase and want that kinda payment....your looking at about 8-10K down to achieve a 300 dollar payment

 

Welcome. Do not shop for payments. Its a suckers game. Determine the max that you are willing to pay for a 350Z. Go shopping.

 

plus if school and that is a priority, plus high insurance, i would wait until you are doneand got a solid job. then get the car. a beater with no car payments are best when in college.

 

5k down and 550 per month for 48 months(4 years) after all the financing was done. Insurance was 400 per month but dropped down to 280 right now.

 

wow I feel for some of you guys that have to pay those rediculous insurance rates. I Paid $21,250 out the door for a 2007 Entusiast. Thats was with a 10K trade in. My loan amount is 21250. I have a 5 year loan and pay 355 per month. My insurance is $100 per month full coverage for the Z. Through Geico.

 

PS, I would never ever pay more than $400 per month for a car payment. I would save up for a bigger down payment before I would do that.

 

Mcurry, sounds more like you have a 6 year loan, as a $21k loan, would be over $400 a month. If your loan was in a 6 year term, then it sounds about right!

 

that payment is possible w/ 0.0% interest.....if thats what u got....but i doubt that..unless its leased!!!and u have a 760+ credit score

 

Sorry, I just looked at my loan papers. It is a 66 month loan. 5.5 Years @4.99% It says the payments are 368/mo

For some reason I though it was 355/mo. I have not gotten a payment yet.

PS, my credit score is 735

 

yaa that sounds correct

 

for every 1000 extra down, it only brings down the monthly amount 9-13 dollars. I really don't care that much, 550 is not really bad. If you can't fit that into your monthly salary, than the z is really not for you unless you have have a very very big down payment or have a diff car to trade in as a down payment.

all my z/g35 owner friends are paying 500-850 a month. Not really a big of a deal.

 

yaa...i pay 555!

 

I thought the rate was pretty good. It was through a local credit union. They were having a special for new car rates. It may or may not have been a special, I didnt shop around for rates.

One thing the dealer hates is when you go in there with your financing already completed with your own bank. They lose money on the back end when people get there own financing.

It took me all of 30-45 minutes to buy the car when I went in with my own financing. I declined all the extended warranties, life ins... and whatever else they try and con you into buying there.

Most people dont realize that when you use the dealerships financing you usually end up paying a higher rate. The will send your info to a bank and the bank comes back with lets say 6.9% for your situation. The finance guy at the dealer will say" so and so heres the great deal I got for you, the bank is willing to give you 7.49% today." Its all BS.

When you go buy anything major you should always know your credit score and what constitutes a good credit risk for the bank before you walk into the dealer. If you dont know your score they will tell you based on your score you qualify for this rate. Because they dont have to show you your credit report or score. So if you dont know then you asking for trouble.

Thats my financing 2 cents worth.

This also applys for a home mortgage. Be carefull with Yield Spread Premiums. They are a scam so the Loan Officer can make more money on you. It works pretty much the same way. Bank will give the Loan Officer the rate you qualify for . The LO will sell you on a higher rate and in return the bank will pay the LO for doing so. ITS BS

So educate yourself when making major purchases.

 

Super Black, not only does the down payment help lower your payments. But way more importantly it will help you when you go to trade a car in. You will less likely be "upside down"

I always put as much down as I can afford too. Put it this way, when you put money down you are actually saving a lot more than you think.

Lets say for example you owe 20K @7% If you were to pay cash instead you would be making 7% on your money. Now I dont know about you but there are not many savings accounts thay pay 7%.

Do you follow ? Its never in your best interest to pay money at rates higher than what a typical CD or savings account will pay out. NEVER

 

don't get me wrong, i totally understand, but at the time, i had to trade in my old car which i still owed 7k on, put down 5k for the Z (all money that i had saved in half a year). Of course if i had more money i would of put more of a down but most cases like others, you just don't have a choice. I'm one of those people where if i want something, i need to get it soon.

Just like Rent-a-centers and color tyme, the things they let you rent to own, if you saved up and bought it whole, you would save atleast 35% of total cost and sometimes 50%. The fact is people rather pay payments and pay a little more at the end as long as they get the payments they want since they don't have money at the moment.

 

If someone is paying 850/mo for a Z they are on drugs. I dont care how rich you are. And if you are that rich to do so, you still should never pay that much becase you should be able to put a substantial down payment down on the vehicle. Which is much better for all of the previous said reasons.

 

SuperBlack, why did you "have" to trade the old car in ? The smart thing to do would have been to keep it longer and pay down the debt. Now your probably upside down in the Z. Its a never ending horrible cycle that can be avoided if your smart.

 

Wow, you guys pay a lot.

I put down 18,000 on mine, and used a personal loan with a 11% interest rate for four years, so I have a clean title. I pay 293 a month, and my insurance is about 190 a month. Oh and I'm 20 and have virtually no credit.

 

06 g35 full options(brand new at the time). Doing a 36 months plan with 0 down. yeah, 850 is a lot, i'd admit. I told him to lease at the time since all he does is trade in for newer cars later.