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.
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01-13-2019, 07:02 PM #1
- Join Date: Mar 2013
- Location: Nevada, United States
- Posts: 15,753
- Rep Power: 93883
Should I trade in my car for a sports car and be upside down on my loan?
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.
-Socrates
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01-13-2019, 07:05 PM #2
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01-13-2019, 07:08 PM #3
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01-13-2019, 07:12 PM #4
- Join Date: Nov 2003
- Location: Sacramento, California, United States
- Age: 41
- Posts: 7,251
- Rep Power: 7814
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."Above all, we must realize that no arsenal, or no weapon in the arsenals of the world, is so formidable as the will and moral courage of free men and women. It is a weapon our adversaries in today's world do not have."--Ronald Reagan
“Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength.”--Arnold Schwarzenegger
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01-13-2019, 07:13 PM #5
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01-13-2019, 07:16 PM #6
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01-13-2019, 07:16 PM #7
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01-13-2019, 07:19 PM #8
- Join Date: Mar 2013
- Location: Nevada, United States
- Posts: 15,753
- Rep Power: 93883
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01-13-2019, 07:21 PM #9
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01-13-2019, 07:21 PM #10
- Join Date: Mar 2013
- Location: Nevada, United States
- Posts: 15,753
- Rep Power: 93883
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.
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.
-Socrates
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01-13-2019, 07:22 PM #11
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01-13-2019, 07:24 PM #12
- Join Date: Mar 2013
- Location: Nevada, United States
- Posts: 15,753
- Rep Power: 93883
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.
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.
-Socrates
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01-13-2019, 07:29 PM #13
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01-13-2019, 07:30 PM #14
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01-13-2019, 07:32 PM #15
- Join Date: Mar 2013
- Location: Nevada, United States
- Posts: 15,753
- Rep Power: 93883
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01-13-2019, 08:11 PM #16
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01-13-2019, 08:22 PM #17
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01-13-2019, 08:24 PM #18
- Join Date: Feb 2011
- Location: California, United States
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01-13-2019, 08:26 PM #19
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01-13-2019, 08:28 PM #20
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01-13-2019, 08:33 PM #21
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.
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01-13-2019, 08:39 PM #22
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01-13-2019, 08:42 PM #23
- Join Date: Mar 2013
- Location: Nevada, United States
- Posts: 15,753
- Rep Power: 93883
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01-13-2019, 08:50 PM #24
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.
STEM Wagie Brah
Oil/commodity based trader
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01-13-2019, 08:53 PM #25
- Join Date: Jun 2008
- Location: Brisbane, QLD, Australia
- Age: 36
- Posts: 6,775
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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?
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01-13-2019, 08:56 PM #26
- Join Date: Mar 2013
- Location: Nevada, United States
- Posts: 15,753
- Rep Power: 93883
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01-13-2019, 08:56 PM #27
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01-13-2019, 09:01 PM #28
- Join Date: Mar 2013
- Location: Nevada, United States
- Posts: 15,753
- Rep Power: 93883
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01-13-2019, 09:11 PM #29
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01-13-2019, 09:12 PM #30
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