Mikeman92

I'm a sophomore college student who wants to earn his first car. A lot of my friends have nicer cars that have been modded and etc, like 335is, and Gts.. I'm not into the whole modding thing, I just like the way the 350z drives, the way it looks, and etc.

I make 8.24 an hour and I'm trying to find ways to make more money to get one. I would like to find one with 50k miles for 10k-12k and hopefully work my *** off till the end of the summer for a good down payment (because insurance + car payments will rape me if I don't).

I was wondering if there are any tips anyone can offer in terms of saving money, or what milage/years of 350zs I can look at.

ZMoneyPIT

iTrader: (1)

Just make sure you aren't buying into something you can't afford.

It's a sports car, with that in mind you shouldn't have to worry about payments, being able to afford premium gas, ect (Insurance will probably be around 250 for you).

If any cash problems are on your mind my advice is to wait till you're more financially stable. Just for your sake, you'll be very thankful down the line.
It's not like a civic so don't walk into it like it's one.

Now as far as advice goes in terms of buying a z, imo if you're looking into keeping it stock buy a 07-08, if you're looking to mod buy a 04-06. If you're looking to save money, my advice is to wait and buy a beater till you can afford a good mileage and year z.

Mikeman92

Thanks for the advice, and yeah I know I should be more finically stable. I was thinking about pulling two jobs in the summer just to put a down payment. I don't want to sound desperate, but I guess I am. I'm trying to break away from my dependency on my family.. There's a lot of motives for this car, but it's really nice and I respect it whenever I see one. It turns my head more than an M3 or 335i does.

Once again thanks for the advice!

MyO3Z

I'm 23 and bought my first sports car just a month ago. I will say, insurance will be a PITA at your age, it's not too bad for me, but double was I was paying for my Jeep (expected lol)
I pay $250 a month for a car payment on a $6k loan. I could've gotten a $12k loan for a newer car, but payments would've been higher than I wanted, plus I can pay this one off quicker.
At $8.24/hr, unless you have NOTHING else to pay for besides car payments, gas, and insurance....you might be able to do it, but I'd say wait. I make $11/hr and it's not easy, but I do have some money to play with if I make payments at the right times.

Don't rush into it...save up money and then start searching for deals.

As far as saving money, if you can, put half your paycheck into savings. If you can't, put as much as possible. Even $200 a month, is $2,400 a year, which in 3 years (my age) is $7,200 + whatever extra...which is good down payment on a car. Plus insurance will go down for you by then.

RMichael

Mike, I have so much to suggest but I won't because it's not my job.

Mikeman92

Yeah you're right. That's partially why I want to get 2 jobs in the summer, I'd like to earn more than my 8.24 an hour, which is underpaid for what I do. I'd like to save anywhere from a 4-5k down payment on an 07-08 with around 50k miles? or maybe an 06, anything around the range of 10k-12k 350z.

Thanks for the advice MyO3Z

Mikeman92

Well if it's to deter me than don't worry, my dads trying lol. If it's suggestions then I'm all ears w/e you want to tell me

Chadro

So what happens when you get a speeding ticket? Insurance skyrockets........

ZMoneyPIT

iTrader: (1)

I can say that if you are responsible this won't happen. I've had my Z for almost 2 years now and I don't have one ticket for that reason

2004Black350z

iTrader: (37)

That's bc your car is slow. I say buy gap insurance. You'll need it

350zchad

iTrader: (1)

You won't get an 07-08 for 10-12 unless its been beat to hell and salvage title. If you can't pay cash you can't afford it.. Save up you are young and when you graduate treat yourself to the car you want, when you get a big boys paycheck

Mikeman92

Well an 04-05 is fine as well. Besides I won't be receiving a big buys paycheck any time soon even after graduating. If my plans work out and I go to law school, my money will be invested into that

verdict.

What are your other finances? Do you have a student loan, etc.? There is a lot to take into consideration. Personally, I would suggest saving your money and focus on getting yourself through college first. It doesn't matter what other people drive -- get a decent daily driver for now and save money for the toys later.

For 10-12k, you'll most likely be looking at 03-06. 07-08 for that price range will be hard to find unless it's a salvage title or trashed (as mentioned above). Regardless of what route you take, good luck!

Mikeman92

My school expenses are payed by scholarships, and whatever's left over goes to summer term because the gov. doesn't want to pay for summer terms anymore.. so all my job money can go pretty much anywhere else. I'm driving an 04 sebring limited, and I hate it lol. I'll take the advice though and save. I'm also worried about the 06 z, I hear it has problems.

BornSlippyZ

iTrader: (1)

This! Also there will always be people out there that will have something you want or cannot afford and you do not want to become one of those that 'keep up with the Joneses'. Especially you are wanting to go to Law School after your undergrad degree. That should be your goal imho.

Mikeman92

Paying for law school won't be much of a problem.. Not because I'm rich or have money, but because my university is linked with wells fargo, and my university has a kick *** Law program (FIU law school).. So as long as I maintain a decent credit with the bank, loans for law school well be easier, and probably not as killer. I was hoping by the end of my senior year, I would have saved up enough for a z

Bruno350z

iTrader: (1)

Live the American Dream, open up 3 credits cards and swipe all three. Make minimum payments with 0% interest for 1 year. I'm assuming it'll be maybe $180 for all 3 cards. As long as you're making minimum payments your credit wont decrease, but it also won't increase because you have too much revolving credit. Save up all your money for the year and when you have the full $$ pay off all 3 cards (preferably before the 1 year to avoid interest).

Btw this was half serious half sarcastic. I personally wouldn't do it, but hey it could be your thing.

Syner

The only way to make quick easy money is selling drugs.

I wouldn't advise saving, putting your pennies in your piggy-bank is a waste of time. Invest your money, that way you are essentially making money while you are saving.

It's hard to do, but I would wait if I were you. You are not making enough to pay insurance, gas, maintenance (on top of your car payments). I waited until the last month of my last semester of university to buy mine.

There will always be someone who has something better than you, and you will always have the feeling that you need something.

Be patient, wait until you are finished your undergrad degree, get a higher paying job, then buy the car you want. It'll be less of a headache to take care of it, and you'll still have a ton of money left over for the other fun things you want to do.

Obviously you don't have to take my advice, but I have been in a nearly identical situation to yours.

Jah70

Your in college man, the only thing you should be worrying about is studying, shredding up the sugar walls from the chick professors, teacher's aids, and freshmen chicks, drinking, and partying! I went through the same thing your going through and I advise you to save, and not make any large purchases and wait until your senior year when graduation is right around the corner. If you play sports like I did or have some type of scholarship it will make things easier for you to save and you can pocket some of the money to put towards the car or blow it on spring break trips in Florida, coke and high class hookers in Vegas like I did lol. Relax man, don't be in a rush to get one just yet. Sit back and enjoy college. Because after that you'll enter the crappy real world working a 9-5 job for a ugly dumb b!tch that thinks your her slave and sitting behind a stupid freaking desk staring at a computer screen punching numbers. Save now, wait until later, and enjoy life now. Your going to regret working all the time and missing the crazy things on campus. Unless your a commuter.

Mikeman92

I know what you guys are saying lol.. The way I see it though, once I graduate and head to law school, there will be no room for me to get any car. I won't be able to work and get a new one. My 04 sebring is dying, and with the repair costs, I might as well save a little more and get a Z.. If my car was in decent shape I'd be a lot more patient and try to ride it out.. Anyway, maybe not some in the near future but if I save enough from now till the start of my senior year (I'm in spring as a sophomore), I can get it V.V...

I've honestly never even been a car person, I played football and video games and that's all I cared about. My friends were 16 years old driving Mustang GTs and 335is, and 0 ****s were given by me, unless I was in their car. But I fell in love with the Z