ImWeeZzel

iTrader: (27)

i dont get why batman doesnt find another car (Z) if he has 20k saved up. granted he fell in love with the one with a lien, but people who truly want a certain car and it meets their criteria, they search and travel just to get it. tell us batman, why this car, what makes it so special?

scotts300

iTrader: (46)

Wow, that's about $8k/year in pre-tax dollars. Not quite as much as I used to painstakingly pay, but still too much at 18 years old. You must come from $.

davidv

iTrader: (2)

Correct. Visit the lien holder. Work it out.

scotts300

iTrader: (46)

I'll venture to say that >75% of cars (newer Z33s) have liens on them, including cars at dealerships. It's just that when you buy from the dealership, they "handle" the DMV work to transfer ownership from the previous owner who traded it it (or auctioned it) to the new buyer. Hence the "tax, tags, and fees" you pay to them for this service.

There is very, very, little risk of buying a car with a lien. Bill of sale, check to the owner and the bank, and you drive the car away and wait for the title.

ImWeeZzel

iTrader: (27)

you know ive never thought of it that way. that makes so much sense because people trade their cars in constantly to get another when they still owe $ on it.

I guess the reason i posted my last response is because the trust factor between the lien holder and the person who wants to purchase the vehicle. i guess that is why u get a bill of sale and get it notarized like suggested on the post huh?

jeremyh007

iTrader: (1)

holy hell...$460/mo is not worth it at all. keep in mind you will be paying that for a LONG time. it wont be going down anytime soon, and you wont be on your parents insurance forever.
there are plenty of cool cars out there that would be better suited for your needs, and are way more cost effective

DSLisFREE

iTrader: (1)

You might get lucky and the title is at the local bank. WOW $+400 for insurance is crazy. I am 24, have 2 cars on my policy, 2008 honda civic and 2003 Z , full coverage, and i pay roughly $500/6Month .

Entaille

iTrader: (16)

he's in new york and he is very young = pricey insurance. apples to oranges

Bruce Wayne

iTrader: (2)

you guys are forgetting i live in NY, its a 2dr sports car, it WAS black, and i am considered a "new" driver... but anyways...

the reason why i want this car is because it has 46k miles on the clock, clean as a whistle carfax, perfect title. 2 owners, last owner had the car as coorperate lease. the car was purchased from a certified pre-owned nissan dealership. this kid had the car for 5 months and is looking to sell for personal reasons.

he has a full Greddy evo2 exhaust setup, 800 dollar installed touch screen navi/dvd player

white on black leather (which seemed almost impossible to find in my state within 200 miles of where i lived) i kept finding white on grey - etc etc

the price seems perfect. and hes even willing to negotiate, the car is mint, i test drove it. the clutch was recently changed, he has ALL the paper work. the only problem is the damn lien.

but im going to his bank Monday to check it out. and see what they say.

im in LOVE with this car i have many many many future plans for it. IF god willing, i get it.

but thanks for all the responses, and help i got from you guys.

me being at the age i am, i find this to be a big step by buying the car on my own and dealing with everything alone.

thanks though!

quiksilver38

$460 a month!!!! you might as well drive without insurance like everyone else, thats $5520 a year!

Zivman

iTrader: (19)

I am sorry, but you are a fool to pay that kind of money for insurance on a car. Just money down the toilet. 460 would be almost acceptable if that covered your car note and insurance, but you are dumping a huge chunk of cash down on the car and then sucking up a monstrous insurance bill. It could be an enzo and I wouldn't cough up 460/month for insurance

I know you are 19 and have it all figured out, but if you are my kid, I would slap you upside the head -> it's just a damn car; find something useful to do with your money

Just to put things into perspective, my Z costs me less than 460 bucks to insure for an ENTIRE YEAR.....

KornerCarver

iTrader: (2)

I pay $456 per year for full coverage on my Z. My Dodge Caravan is $430 per year. Of course, I'm 65 but still, $460 per month seems outrageous.

Entaille

iTrader: (16)

they are counting on having him total the car within 2 years or his rate wouldn't be that high. the stats are against him. good luck young z driver.

dhays

iTrader: (10)

You have gotten some good advice regarding buying the car. Just keep in mind that the seller doesn't have the title, the lien holder does. The lien holder won't release the title until the lien is paid off. You responsibility as buyer is to make sure that the lien holder gets paid. There are a couple options:

1) Have the seller pay off the loan before you buy.
2) Make payment directly to the lien holder via check or cashier's check and make the balance payment to the seller along with a bill of sale. Talk with the lien holder first to make sure that you see all the required paperwork being filled out and signed.
3) Make payment in both the lien holders and seller's name, or make entire payment out to the lien holder. The bank will cash the check and give the excess back to the seller after the balance has been paid off and any fees deducted. This is the best way, particularly if you can do it in person at the bank or credit union.

Finally, you are a young fool to be dropping that much cash into a sports car at your age, not to mention the $460/month in insurance. Get an education, buy a house, do something constructive with your money and future.

I'm not sure if you caught the implications of what scotts300 mentioned above. $460/month takes about $8k of pre-tax earnings to cover. In other words, you will have to earn $8k a year just to pay your insurance. If you get a car that is half as expensive to insure, then that is only $4k a year. In five years I guarantee that you still won't be in LOVE with this car. What did you LOVE 5 years ago? During those five years your "plans for the car" are going to cost you even more. Add to that the depreciation. Do a little math over 5 years of ownership.
Insurance: $20k of pretax earnings
Depreciation: $10k
Total: $30k

So is this car worth $30k to you over 5 years? I didn't even calculate the opportunity cost of having $16k cash tied up for 5 years nor the money that you plan on dumping into the car with modifications.

dhays

iTrader: (10)

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scotts300

iTrader: (46)

Well put (your entire post), but w/r to your question above, 5 years ago he likely loved the fact that his mom left her Victoria's Secret magazines out on the counter. When I was 13, I know I did!

Opportunity cost - the #2 thing our younger generations miss when they are justifying spending money on a widget.

sssmasss

iTrader: (13)

i bought my first Z like u...


the owner still owe nissan 15k and he wants $25k... i went to nissan with him they did the paper work for me... I ended up paying nissan 15k and he got 10k... Dont give him all the money... give him what he want minus what he owes... but u need to talk to nissan or lien holder about it... DONOT GIVE UR MONEY TO HIM WITHOUT DOING PAPER WITH LIEN HOLDER.

i am living in california... and i heard many stories about this... where u end up paying extra amount of what he owe to the lien holder... sometimes ppl lost their money too.. scammers......

davidv

iTrader: (2)

So did you get a 350Z or what?