Well i've been thinking of this. I may buy a G37 very shortly and I'm wondering if financing is the better idea.

I'm 21, never taken a loan however since the day I was 18 I've had a credit card and paid every month on time for my bills.

Infiniti is offering 1.9% up to 36 months (I believe)

Can I get the 1.9%?

I will have quiet a bit of money in the bank after I sell my truck.

Then if I don't pay in full I can put into a bank account where i make between 3.60% a month per how much I have it in. Seems taking a $2.5K on financing would be better then paying up front because of more money I can sit on for a longer time.


EDIT : The math doesn't add up right, I think paying it off it the best bet but i'll still take your suggestions.

 

making 3.6% and losing 1.9% gives you a net gain of 1.7%

Finance as much as you can.

Because you're a first time buyer, it may take quite a bit of money down to get you the promotional rate.

NMAC's standard guidelines want 5+ years of credit history, at least 3 active open trade accounts, and at least 1 non-student-loan installment account, all in good standing, as well as a 710+ Equifax score.

 

finance it.


Maybe not all but still finance it.

If you pay the loan off without any issue you'll build your credit history. And that will always help further down the road

 

Earning 3.6% versus financing costs of 1.9% is a difference of 5.5% with your money excluding tax considerations.

You say you are making 3.6% per month although I am sure you means annually. If it is 3.6% monthly I would like to find out where that kind of return is possible.

I am a proponent of building a good credit history but only when it is financially beneficial to do so. We have scant information so I can't provide a recommendation.

 

3.6% is annually sorry. Since it's dropped it doesn't seem finacing would be a good idea considering buying the G37 brand new is gonna hurt a little on the wallet.

 

I financed mine but then paid it off the first month, there was no early re-payment penalty and it raised my credit score substantially since technically i did finance it

 

i say finance build up your credit even more

 

As some have already said finance it and build your credit, financing a car is one of the first important steps to building a strong credit report and to being able to finance bigger and better things like a house!.

Good luck!

 

you also may want to look at terms of financing... a lot of dealers offer low to no cost financing, but require a down payment. the down payment is equal to the interest they would have earned had they charged you a rate.

for ex. they may say 1.9% but require a down of $xxxx. this amount would equal 4.1% of the purchase price to give them an even 6% overall. They use rounding ad time-value of money, so it may be a little less than financing from a bank... but don't go thinking it's only 1.9%