A&Q about 350Z
Q:
CantZmee wrote:
> I disagree with point numbers 1 and 2 made above and here is
> why...
>
> 1) You should ALWAYS pay as much up front as possible. 100% of
> the time you will pay more if you finance the whole thing
> rather than making a down payment.
>
Not necessarilly true. I got 3.9% on my used pathfinder so I didn't bother to put any down. The money that could have been used as down payment I could put into a savings account with interest higher than 4% and the balance compounds. So actually, I could have paid less putting no money down
'71 240ZT
A:
As for putting money down on a car it is really up to you. If you get a great rate I would put down less or none. Also if you can afford the payment with nothing down then you have money to mod your car.
I put 10K down just so the payments will be lower and the car was financed for 60 months at 4.24%. This car is a garage car for me and my wife. The car is almost a year old and has maybe 6k miles.
2005 350Z Touring Roadster - Super Black - 6speed
Borla Exhaust and K&N drop-in.
Other toys include:
2006 Subaru WRX Wagon
2002 Isuzu Axiom SUV
2002 H-D Electra Glide Ultra Classic
2002 H-D custom Fat Boy
2001 Kawasaki Drifter 1500
A:
What S30Z8 said, if you can get better low-risk interest than your loan rate, you may be better with no downpayment. :) If the rate is high, then you want to reduce your loan. I remember once financing a car on a lease, but the lease rate was 0.4% for 36 months. I just returned the car at the end of the lease, having paid almost nothing to drive it. But leases are generally a bad idea.
I think cmcniel has a good point, cars depreciate 15-20% in the first year. Buy a car that is one or two years old and enjoy that discount. The car is still usually under warranty.
A:
6-8k down? 60 month financing? =! someone considering the cost thoroughly. That car will probably end up costing you well over 40 grand. Buy one 1-2 years old, put as much down as you can, and enjoy.
People will say "i can get a better savings rate than the loan rate". Where do you think they get about 50% of the criteria for the rate? Same market determines it. What if the market goes to $hit [that never happens right...............], you'll still be paying that high interest rate agains that crappy savings interest rate. Purchase everything you can outright and minimize your debt, in the long run you'll have a lot more purchasing power.
19[TT]91
My TT beauty is gone.
2[00]2 Honda 954RR
Suzuki 1200 S; sportscar eater
19[I4]94 Integra GSR Sedan
Long live the Z...
aka SAHTT
A:
zlover, you caught my vibe exactly I forgot to mention. Debt is never a good thing. You cannot guarantee that 4% offsetting interest. You can guarantee cold hard cash!
Previously owned: 2005 Z Enthusiast, Super Black, 6 spd.
Currently lease: 2006 Pathfinder S, Silver, Auto
"She is (and always will be) my little deuce coupe, you don't know what I got!"
A:
Well...I retract my previous statement. Sometimes debt makes sense, but only when there is cash flow to service the payments...not the case with a quickly depreciating asset that generates negative cash flows.
Previously owned: 2005 Z Enthusiast, Super Black, 6 spd.
Currently lease: 2006 Pathfinder S, Silver, Auto
"She is (and always will be) my little deuce coupe, you don't know what I got!"
A:
Why not lease for 36-48 months. I put $2k down and traded in my beat up 1996 Grand Cherokee for $1500 for my 2005 Z Touring. I prefer to have a new car every 4yrs, especially while still young (27). Less hassle and maintenance issues overall. Also, by the time my lease is up, there will probably be a new Z on the market. This is an excellent option if you can stick to the yearly mileage limit. When the lease is up, if you want to buy the car, you can negotiate with the leasing company.
A:
Leases are bad >:(
Just say 'No' to leases!
'04 Daytona Blue 350Z Enthusiast - B-Stock #34
Tanabe Sustec 36mm chromoly front sway bar
K&N drop in air filter
Hawk HPS brake pads
Pioneer Premier CD/MP3 head unit
18% tint rear and sides
A:
CDs have a guaranteed return rate (regardless of the market), and you can sign them for the same period as your loan.
Leases are evil.
A:
Highly illiquid investment vehicle though...
Previously owned: 2005 Z Enthusiast, Super Black, 6 spd.
Currently lease: 2006 Pathfinder S, Silver, Auto
"She is (and always will be) my little deuce coupe, you don't know what I got!"
A:
Good pun! Investment vehicle. That's brilliant!
A:
ha ha ha!
I didn't even mean to.
Previously owned: 2005 Z Enthusiast, Super Black, 6 spd.
Currently lease: 2006 Pathfinder S, Silver, Auto
"She is (and always will be) my little deuce coupe, you don't know what I got!"
A:
CD's aren't really that great if you ask me. if you put a ton of money in them and leave it there for a long time you might get an interest rate close to what every bank used to give on a normal savings account back in the day.
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'05 350Z Chrome Silver Touring
'73 240Z
Post Edited (Jun 7, 5:53pm)
A:
you know the funny thing... your APR could be anywhere from 0 to 100% and it wouldn't hurt your payment one little bit...
APR is simply the term used to describe the amount (in percentage) that the finance company will send to principle or interest...
what "interest rate" is what you should be asking... as z32dood said...
i love seeing the ads in the news paper displaying a 0% APR financing on any vehicle... and then wondering how many suckers they got out of that...
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Chrome Silver '03 Touring -MT-
C.F. Nismo Wing
Shorty Antenna (Stolen!!! Thanks alot!)
Kicker Solo Baric L7 1200w
I don't think, I know...
Well, I don't think you know either
A:
Short for Annual Percentage rate, the APR is a measurement used to compare different loans offered by competing lenders, which takes into account both the interest rate and closing fees. Unlike an interest rate, an APR gives you a bigger picture when shopping for the best deal on a loan. For example, an APR lets you see the total cost of a mortgage, including closing fees and lender points over the life of a loan - not just the interest due. Even though lenders are required by law to show a loan's APR, they don't all use the same fees in their calculation, skewing the comparison. So always check to make sure that the APRs you are comparing include similar fees.
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'05 350Z Chrome Silver Touring
'73 240Z
A:
interesting definition...where did you find that. Technically an APR is similar to an EAR, or effective annual rate, which also accounts for compounding over the life of the loan/investment.
Dividing your APR by 12 will not give you your monthly interest rate...or annual interest rate for that rate. Always ask for the interest rate on the loan...as was stated earlier.
Previously owned: 2005 Z Enthusiast, Super Black, 6 spd.
Currently lease: 2006 Pathfinder S, Silver, Auto
"She is (and always will be) my little deuce coupe, you don't know what I got!"
A:
Save some money and pay off the whole thing thats what i did i hate financing..
ZZZZZZZZZZZZZzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
A:
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'05 350Z Chrome Silver Touring
'73 240Z
A:
If you want the damn car just buy it. It's only money and you can't take with you when you die.
2005 350Z Touring Roadster - Super Black - 6speed
Borla Exhaust and K&N drop-in.
Other toys include:
2006 Subaru WRX Wagon
2002 Isuzu Axiom SUV
2002 H-D Electra Glide Ultra Classic
2002 H-D custom Fat Boy
2001 Kawasaki Drifter 1500
A:
Hey,
Simple advice. First of all the best buy is getting used but be careful to checkout the car's maintenance and accident history thoroughly. Also checkout any signs of hard driving ( tire wear, mods, etc.) to be sure what to expect in future maintenance costs. Everyone knows a car loses value as soon as you drive off the car lot so my best advice ... is by "Used"
Secondly,
If it is financially possible for you to give a big down payment ... then do so. Unless your bank offers you a higher interest rate on your savings account than the interest rate on your loan ... then go for it and lower the overall balance of your loan to lower the total interest you will pay. Be sure you have some minimal savings in case your financial situation changes and you need extra cash on hand.
See the following link to see how the amount of down, interest rate, etc. affect your monthly payment.
http://www.defenselink.mil/mapsite/carpay.html
Hope this helps you out. Good Luck.
the Juiceman
- '05 Redline Enth.
- AEM Air Intake
- Injen SES TD Titanium Tips
A:
Leasing vs. financing is a debatable topic, each has its pros and cons. I prefer to lease. Has anybody else leased their Z?
A:
if your leasing your Z from my point of you,you should be a shame of yourself,your not a true Z fanatic and obvious you dont like your car thats why you trade it in and dont care
ZZZZZZZZZZZZZzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
A:
Not true at all. Leasing my Z since 6/05 has been the best experience I have ever had with a car (this is my first new car that I have purchased; previous two were used). The car is beautiful and was well worth the investment. The car is my daily driver and driving the car is a pleasurable experience (even in the NJ winter which was mild this year). I appreciate the Z's heritage. But, by the time my lease is up the new model/version will be on the market, and I will probably purchase this incarnation. Cars are fun, but are replaceable. Why not upgrade your Z every 4yrs (does that make me less of a fan)?
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'05 350Z Super Black Touring
Post Edited (Jun 7, 8:15pm)
A:
Bro there is no such thing of an investement when you lease.Leasing is a trap that some people fall into ( like you ) ok lets see how many people in here gonna backme up on this 1 for leasing 2 for financing (i'm saving a thread this why lol)
ZZZZZZZZZZZZZzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
A:
Eric,
You make an excellent point, but financing vs. leasing depends on your situation (i.e. financial, usage, family, etc). I refinanced the mortgage to pay off my remaining lease payments because I signed a contract for my home back in 2002 when property in my area of NJ was still reasonable. Despite the numerous construction delays until 2005, the developer could not raise the price on the contract. I had a 2yr ARM, and with interest rates rising I decided to refinance to a fixed rate last month. The value of my place has appreciated 275%, so I decided to cash out the necessary amount to pay the remaining 3yr lease term. In my ridiculously over-priced area, my new mortgage amount is a pittance compared to others (plus I'll sell within several yrs and profit).
I just feel around the 5th yr cars start experiencing maintenance issues (from my experience and that of others that I know). Why not have a fun car or two during your lifetime? You only live once.
Also, as long as your lease payments are manageable, I do not see a problem, with not having ownership of the vehicle. Now if you are exceeding your budget to lease for example, a Porche Cayman S, that's another story. That's stupidity. Sorry, to go in so many different directions with this post.
A:
i got approved for financing at eloan.com. it's a good idea. when you show the dealer your check they'll try to beat the interest rate for you. i ended up going through nissan motors for financing because they were able to get me a slightly better rate.
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'05 350Z Chrome Silver Touring
'73 240Z
A:
Sharp: leasing isn't really all that bad i wish i had done so... not so that i could give it back, but from what i understood from the Nissan dealer's explaination was, that if after my lease was up i can choose to purchase the car...
so i would have a lower monthly payment for the 2 years i owned the car which would also go towards the principle... then at the end of the term i could finance the remaining amount...
In my Station Manager's situation, he is only stationed in the United States for 4 years... so if he wanted a car his best option is to lease... because at the end of his 4 years he went back to TPE... he didn't have a Z but just because he would have leased it doesn't mean that he wouldn't have loved it just as much...
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Chrome Silver '03 Touring -MT-
C.F. Nismo Wing
Shorty Antenna (Stolen!!! Thanks alot!)
Kicker Solo Baric L7 1200w
I don't think, I know...
Well, I don't think you know either
A:
godwino,
That's a sweet deal on your townhouse appreciation!
And about the 5th year car maintenance, normally I would fully agree. But I had a '79 280ZX for 10 years (just sold it in January), and the maintenance was minimal. And from what I hear from other Z owners (all generations) I fully believe these Z cars are built for the long-haul.
How much are those Caymans now? I think I saw an ad the other day for one at $800 per month for two years!!! And I don't remember how much was required down on top of that!
static,
Your Station Manager is a good example of when a lease is the best decision for a buyer.
'04 Daytona Blue 350Z Enthusiast - B-Stock #34
Tanabe Sustec 36mm chromoly front sway bar
K&N drop in air filter
Hawk HPS brake pads
Pioneer Premier CD/MP3 head unit
18% tint rear and sides