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

[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.

[CanuckGame]

You are a dumb fukk is what I think.

[CherryPopinski]

You are a dumb fukk is what I think.

Maybe I'd say I'm doing pretty good for a single 24 year old though lol

[artDDP]

I've found that often once I have the things I really want I don't enjoy them as much as I thought I would.

I've also seen a lot of people in my career with 400-500 credit scores who were living large and no f*cks given about their 300% interest rates.

So, YOLO, I guess.

[CherryPopinski]

I've found that often once I have the things I really want I don't enjoy them as much as I thought I would.

I've also seen a lot of people in my career with 400-500 credit scores who were living large and no f*cks given about their 300% interest rates.

So, YOLO, I guess.

Well my credit is nearly 800 last i checked and I have a decent savings.

[straightflexing]

Look at me I'm going to get girls with a car I owe money on...

[Micii]

what made you buy a sentra in the first place, a loss of 1-2k sure but 5-6k is a little much just because you "really want" a different car

[CherryPopinski]

Look at me I'm going to get girls with a car I owe money on...

I'm getting the car cause I like the history behind the Z car and I eventually wanna track it GTFO with that lmao

[gluon]

i would do, 370 is a proper car compared to driving a chick car sentra. But then again i would have taken a used 370 over a new sentra 100000% percent of the time

[CherryPopinski]

what made you buy a sentra in the first place, a loss of 1-2k sure but 5-6k is a little much just because you "really want" a different car

I used to have an older model Sentra and really like the fuel economy and practicality of the car, so when the Nismo came out I thought it was really cool. But I started getting into performance vehicles and realize I drive a riced out Sentra that's not as fast as it looks. I still get great mileage and can carry around a fair amount of stuff in my car at least lol.

[Bando]

I'm getting the car

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.

[CherryPopinski]

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.

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.

[Micii]

I used to have an older model Sentra and really like the fuel economy and practicality of the car, so when the Nismo came out I thought it was really cool. But I started getting into performance vehicles and realize I drive a riced out Sentra that's not as fast as it looks. I still get great mileage and can carry around a fair amount of stuff in my car at least lol.

it's all relative, in a perfect world we would all spend the bare minimum on cars. If cars are a hobby then just treat it as such and budget more of your income towards it. I personally wouldnt spend over 30% of my annual income on a car...buy used, do your research on forums and get a PPI done.

[tunafishha]

What about the new Camaros? Nissans are kinda soy.

[CherryPopinski]

What about the new Camaros? Nissans are kinda soy.

Ehhh I'm really into Japanese cars. Modern American muscle cars don't appeal to me. I wanna take turns fast, not just charge in a straight line lol

[CherryPopinski]

Well I guess I’m gonna go for it then lol

[SpeedMan1]

Do it! you only yolo once. Not like you plan on paying them back am I right boyo

[LuisEnrikee]

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 man has got it right.

if you really are doing so good with your finances why not save and pay cash for the car?
you will loose a ton of money with the interest, plus the car will loose value like a rock.
better to stay away from debt, especially if you are already upside down on a loan.

[brianphi]

I'm getting the car cause I like the history behind the Z car and I eventually wanna track it GTFO with that lmao

If what you say is true, and i very much doubt it is, you should sell the sentra, and buy a used miata... potentially saving yourself thousands in the process.

[Xgamer791]

You are a dumb fukk is what I think.

What was was thinking.

[nikonD70s]

if youre a car guy then do it. feels good to drive a car u like man. car’s lose value anyways unless its a rare car which in your case it’s not. this is a no brainer op just do it man! u can always make money. enjoy life brah do what makes u happy. losing 5-6k to make u smile for years to come when u drive it is worth it.

[Firefightn24]

Sentra Nismo? Is that actually a thing?


Jesus, op.

[CherryPopinski]

this man has got it right.

if you really are doing so good with your finances why not save and pay cash for the car?
you will loose a ton of money with the interest, plus the car will loose value like a rock.
better to stay away from debt, especially if you are already upside down on a loan.

I actually have enough of a savings to buy a Z cash if I really wanted to but then I’d have no savings lol

[SipNPiz]

You can find clean 370s for less than 20k I know because I sold mine with 30k miles for less than 20k... I paid cash for mine because I’m not a busta tho. Negative equitity rofl that’s the easiest way to stay broke and literally work for the benefit of others. Check out Dave Ramsey on YouTube before you lose everything srs.

[lukeaye]

You will end up about 10-12k upside down.

No way you get that changeover. You aren't taking into account dealer margins on both sides of the equation (Buying and trading).

You know its not a good idea, the question is how bad do you want it?

I just bought an 80k Car, not because it was a good financial decision, but because i phucking wanted it. I could just save money all my life.

The real question is, how far are you willing to go to be a car baller?

[CherryPopinski]

You will end up about 10-12k upside down.

No way you get that changeover. You aren't taking into account dealer margins on both sides of the equation (Buying and trading).

You know its not a good idea, the question is how bad do you want it?

I just bought an 80k Car, not because it was a good financial decision, but because i phucking wanted it. I could just save money all my life.

The real question is, how far are you willing to go to be a car baller?

I mean by that logic I might as well get an F-Type lol but idk I’m gonna atleast get the car appraised and see what kinda deal I’ll get on this Z. At the end of the day I don’t have to take the deal.

[hotsaucebrah]

This why the poor stay poor.

[CherryPopinski]

This why the poor stay poor.

I’m not poor though I have virtually no debt aside from my mortgage and current car loan

[r32gojirra]

1) don’t borrow money to buy cars
2) instead of the 370z, get the final model of the 350 with the hr /230kw engine (find one with low kms). It’s a better car and cheaper.

[DolphinPilot]

I’m not poor though I have virtually no debt aside from my mortgage and current car loan

but poor people consistently make stupid financial decisions and you are on track to doing just that.

inb4 OP loses his job and is having a fuk of a time paying off an upside down loan cuz I rly wanted that car