A&Q about 350Z
Q:
I currently own a 350z performance model. When I purchased the vehicle, it was with an 9% percent interest rate due to credit rating at the time. My credit has gone up to very good status within the last year and I've been interested in getting rid of it. There is a fairly new(4200 miles) 2003 Track model with everything except Navigation that a dealer is willing to sell for 28,300. Capital one has approved me with a 4.00% interest rate for 48 months on this amount(I applied and can use it at anytime with no obligation). The problem is that I currently owe 30,000 for my Z. I'd be lucky to sell it for 27,000. I'm young and not too familiar with the selling and trade-in process. If I sell this vehicle, how will I be paying the remaining balance? How can I transfer the title with a lein on it? If anyone with more experience can help me out, I'd appreciate it. Thank you.
A:
This is a finance question...The difference between 9% and 4% on 30K is pretty substantial. You have to analyze how long you have left on your loan. at a 5% difference on 30K, it is $1500 a year alone in interest payments. You may be losing a little money on the trade in, but in the end you may be saving money due to the differenc in interest rate. I dont know how to transfer a title with a lien. As far as paying the difference between owed amount and sale price...that is on you, something you have to work on. hope this helps :)
'04 Sunset Touring 6MT
A:
same problem with my damn cavalier..
A:
another option, if you're a homeowner, is take out an equity line and pay the z off. at least this way any interest you pay is tax deductible.
2003 350Z LeMans Sunset Track with Nav
No mods
A:
If you can find a buyer for your car the dealer can provide a "courtesy trade".
The new buyer will pay the sales tax on the price on your car and you will pay sales tax on the difference between the new car and the selling price of your car.