Ok I had a weird dream about selling the Z, but it got me thinking. My 03 350z with 55k miles I owe 13k on it and its prob worth 15k with the mods on it. I am about 2.5k worth of mods. Thing is I dont drive the car, it is a weekend cruiser and auto-x drift car. Kind of expensive for a auto-x car. I orginionally bought it for daily driving and fun but my new job requires me to drive my jeep.


I make between 8-12k a month and need to buy a house in about 3-4 months

So should I keep modding and paying my monthly payments for the Z and race it.

Sell it and buy a dedicated fun car....ie SR20 S14 and have to only pay liability insurance and no carpayments. Granted I could pay off the Z in 3 months but it just doesnt seem like a practical weekend/drift/race car

 

I am soooooooooooo confused!

 

wtf.. you make 8-12K a month?? and you only drive a 350z.. ok then

 

I like to save my money and invest it.

 

+1 on that! Baller!!!!!!

 

if u make 8-12k after taxes... i say u go for a GTR!

if not, stick w/ ur car... down payment for a house is no joke, i'm in the same boat.

 

I would buy a gtr if I could drive it everyday, but yet again it would sit all week long and get driven to the track/gym and thats it....bad investment again.

Now when I finally get a house and my girl gets out of lawschool I will buy a niiiice weekend car that I would not race like a 997 911 Carrera 2 with a GT3 kit or something but for now that money could be well spent elsewhere.

 

what the heck is your job that you have to ride a jeep and make that much? I want!

 

I am a Structural Analysis Engineer. I drive to new and old buildings and determine what needs to be done to fix (old) a structural or to prevent (new) a structure from failing. But my work is commission based so I need to find the issues, design the solution, and bid the job. But my company is the largest on the East Coast in this field so it makes it easy.

 

Again if you make 8k - 12k a month... why bother selling the Z if you like the car? I make less than half of you. 90% of us here make less than half of you and have the Z as a weekend car. Maybe you're being a bit too @nal? If you look at it the way you do, any extra car you buy is gonna be a bad investment. Cars ARE bad investment in general...

 

first of all, any expensive car isn't a good investment!
second, whats the dif between using a gtr as a daily driver as opposed to a 911, etc

you dont HAVE to race the gtr u know
u can just use it to make us jealous

 

1. if you avg 10k a month, you don't have to sell your z because you could afford to buy your z after 2 months of saving money.

2. just because you have $2.5k of mods, doesn't make your car worth $2.5k more

 

Buyin a car as an investment = fail

buy whatever that keeps you happy and your pocket happy.

 

I don't think you'll get 15 for the car with that many miles on it reguardless of modifications (unless it's a stupid nice car with no dings, dents, perfect upholstry ect..) It would be hard for someone to find a loan on a car that old that's priced so far out of book and most people looking to buy in that price range don't have the best credit/ monthly income. Unless you get lucky. Just speaking from experience I sell cars and the market is really rough right now.
That being said, with the stated income you have and your plans to buy a home I would keep as much money in the bank as you can until you actually settle on the house- Mortgage underwriters are going to want to see a fat cushion in the bank (ususally 6 months of income) saved incase shlt hits the fan. Once you settle I'd use that cushion you have saved up to pay off the car, drop monthly insurance down to minimum coverage without collission. Make sure you get your home insured through the same company you use for auto insurance they usually give you a big discount for that.
Don't get rid of the Z!! That wasn't a dream it was a nightmare!

 

The words Car and Investment do not belong in the same sentance unless followed by Ferrari, Lamborghini, Bugatti, or Shelby.

You make more than enough at 96 to 120K to hold onto your Z (hell, pay it off and turn it into a track car)

 

i see where you guys are going. so you mean a mint 03 touring...like showroom condition isnt worth 15k? I bought it for 16k in November.

Well I have only been in this position for 2 months and I paid off my other bills so all I have left is the Z. I wouldnt have even considered this if it wasnt for the dream/nightmare coupled with the new home purchase

 

you can never expect to get back what you paid for the car. Its like buyin a brand new 08 Z for $30k and tryin to sell it for $28k the next week. You wont get it. Cars deprciate very quickly unless its a high end exotic.

 

You have the means to pay the car off whenever you want, not sure why you are asking us for financial advice when it is obvious you can do whatever you want with the money you make. You could wait the 1 or 2 months before starting the house buying process, the market won't magically rebound by then.

 

well my car isnt worth 10k thats for sure. I see 03's go for 14-15k. Anyways it isnt the mean to pay thing. Its just more along the lines as it's kind of rediculous to have a nice car that just sits all week and then gets driven hard and then parked. Thats what I used to do to my rx-7's and E30's and honda's. I am paying about 600 bucks a month for 200 miles of usage.