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Forum » Should I trade in my car for a sports car and be upside down on my loan?
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Thread: Should I trade in my car for a sports car and be upside down on my loan?

post 1571115531 01-13-2019, 10:17 PM
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Originally Posted By Bando⏩
Sounds like you made your decision.

I don't borrow money, ever. If I did, it would be on an asset that goes up in value.
This

/thread

OP is “good with his finances” yet is going to throw away 5-6k of his net worth on a car he'll want to trade in three years from now.

- wise with money
- loses 6k on a car willingly

pick one
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post 1571347251 01-16-2019, 02:43 PM
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Well I’m going to dealership today, pray for me misc lol if I’m too far upside down I most likely won’t take the deal
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post 1571347321 01-16-2019, 02:45 PM
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Sell yours and buy a clean used 350z in cash. No debt crew.
This fool's running a Honda 2000
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post 1571347561 01-16-2019, 02:49 PM
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I know a chick who has 260$ CAD bi-weekly payments on a 7 year car note for a...

Wait for it....







Almost there......








You ready?....






Spoiler!
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post 1571352291 01-16-2019, 03:54 PM
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if you really had a decent paying job and credit you wouldn't be asking the misc if you should do it. The problem is if you trade the sentra in you won't get much you have to sell it privately
post 1571352461 01-16-2019, 03:56 PM
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Originally Posted By CherryPopinski⏩
I have a 2017 Sentra Nismo still owe 24K (Had the car for a year)

I really wanted a 370Z (They have one for 28K)

Trade it in, based on the used value of my current vehicle I'd be upside down approx. 5-6K

But the Z is the car I want and I make about 65K a year RN. Single no kids, basically what else am I spending money on besides my mortgage and bills? I could work maybe one or two overtime shifts a month and make an extra $500-600. In a year I'd basically offset any negative equity that's going into the Z. Plus I plan to keep it and eventually modify it once it's paid off.

I know being upside down is a terrible financial decision but I really want the car lol.
Go for it. You're 24 and that the age when you're supposed to do stupid financial chit like this. You'll recover. Just don't make a habit of it.
post 1571353561 01-16-2019, 04:10 PM
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#37
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Coming from a car guy I will tell you do it.

I sold my 1994 Integra to buy a brand new 2013 Sentra SR and while I was more comfortable (mostly because of the AC) I did miss owning a car that I genuinely loved and was proud to own.

Money comes and goes, do the trade. You will be happier to pay for something that you love driving instead of thinking of something that you "could've had".
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post 1571354461 01-16-2019, 04:21 PM
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#38
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You should keep your current car until it is three years old and then trade it in. Depreciation from now until that point will be minimal. You already took the giant hit when you took possession of the car.

A 370z is going to be way worse in terms of the early depreciation on top of that. Nobody wants those things anymore.
post 1571354531 01-16-2019, 04:21 PM
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As being in automotive my whole life and owning shops, Sentra is a p.o.s OP. 370z is a much better option even though I am not a big fan of Nissan in General and everything V6 is triple the labor rate as their 4 cylinder cars...just make sure it's not automatic cause their CVT Transmission suck. I go with the 370z since it's a car once you pay it off you can enjoy for years to come and you can't say the same about the Sentra.
post 1571354741 01-16-2019, 04:24 PM
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No you idiot. A lifetime of stupid ass decisions like these are why people "wish they could retire" in their sixties, and end up working as greeters at Walmart in their 70's.

The idea of putting yourself upside down on a loan so you can have a "cool" car is moronic.

*MFC*
Misc Utah Crew
post 1571354781 01-16-2019, 04:25 PM
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Lmao at 24k for a Nissan Sentra loool
Losers let it happen, winners make it happen.

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post 1571354921 01-16-2019, 04:26 PM
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thought about this saturday

sell my 04 330i and get an m3


i didn't think about it long
post 1571355621 01-16-2019, 04:35 PM
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You only young once and you do have a good career being a R.N overtime is there whenever you want. DO IT Op don't listen to these guys cause no one is ever happy driving a SENTRA just a learning lesson not to buy a bucket like that next time.
post 1571355721 01-16-2019, 04:36 PM
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Originally Posted By Jms89⏩
Sell yours and buy a clean used 350z in cash. No debt crew.
This would be the smartest option but with 350’s their mileage is stupid high and may potentially have issues
No man has the right to be an amateur in the matter of physical training. It is a shame for a man to grow old without seeing the beauty and strength of which his body is capable.

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post 1571356451 01-16-2019, 04:46 PM
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Another option would be to get a g37 sedan/coupe. You can find them anywhere from $12-20k depending on mileage. Same engine as a Z, but more comfortable.
Too Big, Too Strong, Too Fast, Too Good!
post 1571356511 01-16-2019, 04:47 PM
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Let me guess, you are making this decision based on the fact that your monthly payment is only going up by $25.

The $40,000 you waste on these cars could have had $640,000 worth of spending power after 40 years of investments. $2.5m not adjusted for inflation.

$65k a year is nothing btw. Have fun wage slaving for the rest of your life, but at least you'll die knowing you had a cool car for a few years.
post 1571357621 01-16-2019, 05:08 PM
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Originally Posted By CherryPopinski⏩
Yea I'm super responsible when it comes to my finances and I really pinch my pennies but this is the first time I'm actually gonna allow myself to make a stupid decision most likely. No point in hoarding the money I guess, I'm gonna spend it eventually. I just gotta pay off the car aggressively so I don't get raped from interest I guess.
Hoarding what money? Its a loan, there's no money to hoard
post 1571358001 01-16-2019, 05:14 PM
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lol Zs have been the same for over a decade, would never buy one new.
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post 1571358131 01-16-2019, 05:16 PM
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Originally Posted By CherryPopinski⏩
I have a 2017 Sentra Nismo still owe 24K (Had the car for a year)

I really wanted a 370Z (They have one for 28K)

Trade it in, based on the used value of my current vehicle I'd be upside down approx. 5-6K

But the Z is the car I want and I make about 65K a year RN. Single no kids, basically what else am I spending money on besides my mortgage and bills? I could work maybe one or two overtime shifts a month and make an extra $500-600. In a year I'd basically offset any negative equity that's going into the Z. Plus I plan to keep it and eventually modify it once it's paid off.

I know being upside down is a terrible financial decision but I really want the car lol.
No because you wont have any money to do anything else. Just get the sports car a few years down the road. If you trade in your car when you already have no money, you wont even have enough money to eat or do anything else.

Also the Z wont help you get any girls. Its not that level of sports car. The only people who will car are 18yr old dudes. Its not that cool of a car.

It will be a giant fking waste of money and you will regret it, 100%.
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post 1571358261 01-16-2019, 05:17 PM
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Originally Posted By CherryPopinski⏩
I have a 2017 Sentra Nismo still owe 24K (Had the car for a year)

I really wanted a 370Z (They have one for 28K)

Trade it in, based on the used value of my current vehicle I'd be upside down approx. 5-6K

But the Z is the car I want and I make about 65K a year RN. Single no kids, basically what else am I spending money on besides my mortgage and bills? I could work maybe one or two overtime shifts a month and make an extra $500-600. In a year I'd basically offset any negative equity that's going into the Z. Plus I plan to keep it and eventually modify it once it's paid off.

I know being upside down is a terrible financial decision but I really want the car lol.
How long have you had the Sentra? Why did you buy the Sentra in the first place? What is your interest rate? How good is your credit?
post 1571358571 01-16-2019, 05:24 PM
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It's better to pay down your loan. Do not get yourself upside down because you can't wait 2 or 3 years for the car you really want. $60k a year single income is not a lot to be driving around a new 370Z. I'm married, our combined income is about $200k a year and I drive a 2013 FR-S (Toyota 86) that's just about completely paid off KBB is $11,500. I would be a nervous wreck if I was single on $60k/year salary with a new Z. Not worth being upside down. That being said, I'm holding out for the new Supra in about 2 years. Good things in life are worth waiting for and you'll feel 100x better buying the car when you can actually afford it and not be stressed out. Besides, as much as I like Z cars, they're so overpriced. Surprised you found one that cheap unless it's CPO.
post 1571358641 01-16-2019, 05:26 PM
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OP you're young and if your only debt truly is the mortgage/rent and the car payment just go get yourself the vehicle that will make you happy. Everyone will come in here and act high and mighty like they've never made a poor financial decision, but this purchase will bring you joy every time you drive it.

Pay it down aggressively, keep putting money into savings and enjoy your car. Who cares if you have a nice car when you're old? Enjoy your life man.
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post 1571358711 01-16-2019, 05:27 PM
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Originally Posted By Kawhilights⏩
OP you're young and if your only debt truly is the mortgage/rent and the car payment just go get yourself the vehicle that will make you happy. Everyone will come in here and act high and mighty like they've never made a poor financial decision, but this purchase will bring you joy every time you drive it.

Pay it down aggressively, keep putting money into savings and enjoy your car. Who cares if you have a nice car when you're old? Enjoy your life man.
If he just bought the Sentra he's going to get hosed on a trade in. Not worth it IMO. And I LOVE cars.

Besides OP you have to consider the depreciation of the 370Z too. You're going to be upside down more than $6k once the value starts dropping fast.
post 1571358731 01-16-2019, 05:28 PM
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Just pay car off and keep Til wheels fall off. I did that 7 years ago, my car cost me about 500 a year in maintenance? Tires brakes oil etc.
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post 1571359141 01-16-2019, 05:36 PM
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Originally Posted By Kawhilights⏩
OP you're young and if your only debt truly is the mortgage/rent and the car payment just go get yourself the vehicle that will make you happy. Everyone will come in here and act high and mighty like they've never made a poor financial decision, but this purchase will bring you joy every time you drive it.

Pay it down aggressively, keep putting money into savings and enjoy your car. Who cares if you have a nice car when you're old? Enjoy your life man.
It’s not THIS one poor decision, it’s the endless ones after that are now guaranteed. Pretty soon he’ll be financing a toaster.
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post 1571359731 01-16-2019, 05:44 PM
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Originally Posted By samsbolton⏩
It’s not THIS one poor decision, it’s the endless ones after that are now guaranteed. Pretty soon he’ll be financing a toaster.
Yeah, I have to agree. Enjoy your life is not very good advice. I can't stand dealerships either so I hate to see them pull one over a clueless kid that just wants to drive a fun car. It's really a decision that could mess him up for the next several years.
post 1571360061 01-16-2019, 05:50 PM
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#57
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Originally Posted By Jms89⏩
Sell yours and buy a clean used 350z in cash. No debt crew.
This you fkn dummy op, and buy from a private seller

Brb get penetrated twice by the dealer, once on the trade value and another on the car price
watchout your comments boyo ↓
post 1571360101 01-16-2019, 05:51 PM
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The 370z is an ancient chitbox ricer magnet, but it's still better than that Sentra

Obviously no,why would you do this? Any of this?
post 1571360161 01-16-2019, 05:52 PM
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Save up a bit longer and you can get yourself a used GTR with decent mileage
post 1571360311 01-16-2019, 05:55 PM
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Glad I got into cars at a early age, worked at a dealership and saw how they fk people over first hand. Would never buy a car from a dealership. No matter how honest and truthful they seem to be they are only looking out for themselves
Losers let it happen, winners make it happen.

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