After a year I sold the G35 Coupe
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Originally Posted by fastedy1
good question. i considerd it a learning experience. to 'buy' this car for a 60mo term will cost on avg about $55,000 for anyone. at the end of 5yrs, your stuck with a car that you might get 15k on a private sale for.
buying with a balloon payment allows you to wash your hands at the end of 3yrs and walk out (like a lease,only with smaller payments) or finance the bal and drive the same car.
what i've learned over the years is that eventually, you will have to put more money into the car as it gets older ( i think we all really know this).
if your budget and salary will allow, this is the best way to go. in the mean time, i'll be waxing my baby (for the next 3yrs) tommorow.
buying with a balloon payment allows you to wash your hands at the end of 3yrs and walk out (like a lease,only with smaller payments) or finance the bal and drive the same car.
what i've learned over the years is that eventually, you will have to put more money into the car as it gets older ( i think we all really know this).
if your budget and salary will allow, this is the best way to go. in the mean time, i'll be waxing my baby (for the next 3yrs) tommorow.
i agree with him, i just paid for the car all at once. i figured it wasnt worth the payments, and the interest over 5 years etc.
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Originally Posted by fastedy1
to 'buy' this car for a 60mo term will cost on avg about $55,000 for anyone.
Ummm, where are you getting your figures from. What kind of interest rate would you have to pay over 15 grand in interest over 5 years? I got 2.9%, financed the WHOLE thing, taxes and all, and am only paying ~$2700 in interest over 60 months. I can do better than 2.9% in investing, so why not take their nearly free money? Admittedly a very low rate, but that means I got my loaded '04 6mt WITH Navi for UNDER $40K, after all taxes, fees, and INTEREST, with absolutely ZERO down. Maybe I'm just upset at the finance lady, who after I had signed everything, was pissed that I didn't buy an extended warranty or debt cancellation, and so she as much as told me that I had made a mistake by not leasing.
Last edited by dentalstud; Feb 6, 2005 at 08:32 AM.
Remember everyone has different financial situations. For him/her maybe they can afford to pay $15K in interest over 5 years. I wouldn't do it but that's me.
You got an awesome deal, be happy. I wasn't able to swing the 2.9% financing rate from Infiniti for my 6MT coupe in July '04, so I went through me credit union and got 3.69% over 60 months. I also got my vehicle for $200 under invoice.
I definitely agree with you that anyone should be able to reinvest the money from a down payment and gain over 2.9% in interest. That's why I didn't put a down payment.
Also never get emotional over a business transaction, it's not practical for a man.
You got an awesome deal, be happy. I wasn't able to swing the 2.9% financing rate from Infiniti for my 6MT coupe in July '04, so I went through me credit union and got 3.69% over 60 months. I also got my vehicle for $200 under invoice.
I definitely agree with you that anyone should be able to reinvest the money from a down payment and gain over 2.9% in interest. That's why I didn't put a down payment.
Also never get emotional over a business transaction, it's not practical for a man.
Originally Posted by dentalstud
Ummm, where are you getting your figures from. What kind of interest rate would you have to pay over 15 grand in interest over 5 years? I got 2.9%, financed the WHOLE thing, taxes and all, and am only paying ~$2700 in interest over 60 months. I can do better than 2.9% in investing, so why not take their nearly free money? Admittedly a very low rate, but that means I got my loaded '04 6mt WITH Navi for UNDER $40K, after all taxes, fees, and INTEREST, with absolutely ZERO down. Maybe I'm just upset at the finance lady, who after I had signed everything, was pissed that I didn't buy an extended warranty or debt cancellation, and so she as much as told me that I had made a mistake by not leasing.
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