OK.heres my story its goin to be long..just bare with me

So i bought my used 04 Gcoupe every opt except navi..I bought it at City Motors in Washington,PA it wasnt an Infiniti Dealership. The price was set at $23,995. Asked for carfax.It was carfax clean.It had only 25,500 miles on this o4Gcoupe. So my mom and I went to sign papers and stuff. We put down $3,000 my mom was my co signer after taxes and fees and what not..my car was at around$26,000. financed for 66 months at 8.9%.my monthly car note is $443.60!

So now that the G37 came out..ive been dying to have one! I mean dont get me wrong i love my G35.but the g37 is just more me. So anyway if i were to trade in my g35 coupe to the Infiniti dealership. how much would i get for my car. i checked kbb it said around 21,000 for trade in. So the g37 cost around lets say $46,000 fully loaded. It is possible for me to trade my car G35 for a g37.? even though i only had my car for 3 months? I hear infiniti is financing for 2.9% i mean how much would i owe from my o4 Gcoupe to get the g37Scoupe..DOES THIS MAKE SENSE LOl its kind of hard to explain..

like i dont get this whole process can someone elighten me!?!? thanks

 

anyone?!?

 

here's the most basic scenario.

subtract whatever you get from your trade-in from you current balance on your loan. (for example, if you still owe 25k and get 21k for your trade-in, that leaves 4k that you still owe) add it it to the total cost of the new car. 46k + 4k = 50k. 50k at 2.9% for 66 months is $807, 60 months is $883, 48 months is $1091.

if you owe less on the car than what you get for trade-in, subtract that from the total cost of the new car instead of adding, but since it's only been 3 months, that's probably not the case.

i personally can't imagine paying a grand a month to NOT have my g35, but if you like the 37 that much and can afford it then go for it.

 

If you're tripping over your G35 car payment, what makes you think you can afford the G37 car payment? It's going to be more, AND you're going to lose money on the G35 trade-in. Terrible idea if you ask me.

 

If you needed a cosigner on a 24k car to get 8.9% interest, I don't think you're going to qualify for 2.9% on a 46k car. Going rate on used cars is low 7% range for shorter terms and a bit lower on new cars.

codemonkey's numbers should tell you it's not a great idea even if by some miracle you qualified for 2.9%. You're essentially throwing away the 3k you put down (you said the car's worth 21k and you paid 3k down + taxes).

A new car APR is generally lower but given you probably don't have the income/credit to pull it off on your own, I highly doubt you could get below 7-7.5% APR as a best case scenario.

60mon@7.00% on 50k = $990.06

Since you're losing money on the trade, they'll probably make you buy gap insurance which may bump it up a bit further as well since they don't want to get stuck w/ the losses if the car's totalled.

BTW, this is almost the mortgage payment on a 200k house.

You're gonna have to suck it up and drive that car for a couple years at minimum. With negative equity (you're upside down), no additional money down, and insufficient credit you don't have a chance in hell of actually affording the G37. The dealer may be willing to sign the paperwork to get you in the G37 but they'll get the car back in a few months when you inevitably default after you've paid thousands you'll never get back.

Since by your profile you're 21, you'd be paying for a new G37 till you're 26...usually around the time when people try to buy their first home. Banks when writing mortgages don't really like to see car payments exceeding 8% of your monthly gross and a $990 payment would only be affordable if you had $148,000 in salary to back it up. Unless you're in med/law school already I don't recommend this route.

 

^What he said.

Not to mention the 2.9% is only available up to 36 months. There's a 3.9% special APR up to 60 months, but like everyone has already told you, the chances of you qualifying for special APRs are slim. Mommy helped you out big time by agreeing to co-sign for you on your '04. Be thankful you're rolling in a G and not a Hyundai.

 

"Trading in my o4GCoupe for 1.Brand New o6GCoupe $32,000 | 2.Nissan 350Z Roadster(with navi)$25,988 |
3.o4 BMW 330Ci $25,988..Dont know what to get "

why the hell did you get the 04 G35 anyway?

 

very well said bruddah...

pghG35 - pay heed to what ppl are saying here... they all make sense... stick to what you have, else you will end up paying tons of $$$$$

 

why not sell the car privately ?