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Old 01-30-2013, 01:07 PM
 
Location: La Mesa Aka The Table
9,804 posts, read 11,494,188 times
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10.5 is a little high for this car.See if you can talk him down to 9k flat.
Also have a mechanic look at this car. At 91k miles brakes and and new clutch will be needed soon!
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Old 01-30-2013, 02:01 PM
 
Location: Waterworld
1,031 posts, read 1,448,402 times
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Quote:
Originally Posted by dude_reino View Post
Not everyone feels that not having a car loan is necessary to a successful life. There is nothing wrong with it, if you can deploy your money elsewhere for a better gain. Putting down $10k in cash is a losing investment.
Financing $10k is an even bigger loss..

But, I feel like if you REALLY want this car and feel that you will be secure financially, then nobody can stop you. The Altima SE-R is an awesome car!
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Old 01-30-2013, 03:21 PM
 
Location: Butler County Ohio and Winters in Florida
928 posts, read 2,715,334 times
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I didnt know such a car was made until recently.
Those must be rare.
Cool car for sure.
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Old 01-30-2013, 03:22 PM
 
Location: Las Vegas, NV
5,779 posts, read 14,545,508 times
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Went to the dealer today, and got turned down by my bank for a loan, tried applying for some bad credit loans, nothing yet
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Old 01-30-2013, 03:44 PM
 
3,462 posts, read 4,813,843 times
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Quote:
Originally Posted by DavieJ89 View Post
Went to the dealer today, and got turned down by my bank for a loan, tried applying for some bad credit loans, nothing yet
Don't do it! You are going to end up with a fortune in that car if you take a bad credit loan. It would be different if you were in desperate need of a car but you already have one. Bad credit loans are typically a rip off unless they will still give you a decent APR for a large down payment. You would be far better off if you focused on cleaning up your credit over the next couple of years before taking on any more debt if you currently have bad credit....you were denied by your bank for a reason.
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Old 01-30-2013, 06:10 PM
 
Location: La Mesa Aka The Table
9,804 posts, read 11,494,188 times
Reputation: 11880
Quote:
Originally Posted by ghostrider7811 View Post
I didnt know such a car was made until recently.
Those must be rare.
Cool car for sure.
Great Car,but Nissan screwed the pooch making it front wheel drive
Why not make it rear wheel drive like the 350z or g35

Quote:
Originally Posted by DavieJ89 View Post
Went to the dealer today, and got turned down by my bank for a loan, tried applying for some bad credit loans, nothing yet
Did the bank give you a reason?
My guess is that the miles on the car is too high to finance

Quote:
Originally Posted by dijkstra View Post
Don't do it! You are going to end up with a fortune in that car if you take a bad credit loan. It would be different if you were in desperate need of a car but you already have one. Bad credit loans are typically a rip off unless they will still give you a decent APR for a large down payment. You would be far better off if you focused on cleaning up your credit over the next couple of years before taking on any more debt if you currently have bad credit....you were denied by your bank for a reason.
what this man said
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Old 01-30-2013, 06:16 PM
 
5,075 posts, read 11,041,925 times
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There will still be used Altima SER's for sale next year
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Old 01-30-2013, 07:19 PM
 
3,963 posts, read 5,682,991 times
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Quote:
Originally Posted by hitman619 View Post
Great Car,but Nissan screwed the pooch making it front wheel drive
Why not make it rear wheel drive like the 350z or g35
Not really in the sense that if you wanted RWD then you could get the G35. Why spend all of that money to make one particular trim and entirely different propulsion layout from the model line that it's apart of. The Altima is just an regular old sedan. The SE-R just added some spice to it. That's all it was intended. They did the same thing with the Maxima by dropping that VQ motor in it. It's a sleeper.
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Old 01-30-2013, 09:04 PM
 
Location: Washington, DC & New York
10,915 posts, read 31,329,475 times
Reputation: 7137
I would guess that the mileage is too high, as well, for traditional financing methods, which is why the bank would not approve the loan.

Does the car have full service history? If not, I might be inclined to pass on the car, unless you were able to negotiate a much lower price, and have a mechanic give the car a pre-purchase inspection. Sometimes it pays to be selective, and save, when looking for the higher performance variant of any sedan because if you do not know the care that the car received, it could have been abused with many issues to sort out, once you are signing the checks for fixing it. Also, at 91k, you will be in need of repairs on the vehicle while it is still financed, which may not always be the best proposition.

Do you know how purchasing this vehicle would affect your insurance rates? It may not be significant, but since you are a student, it might be better to go with the lowest cost transportation possible right now, saving where appropriate. Then, you can reward yourself with a much nicer vehicle after you complete your course of study and obtain a job in your field.

You can find other SE-Rs, even if you need to take a weekend trip to another city to collect your purchase. You can have it inspected by a mechanic prior to purchase, as well, and it might work out to be a better deal in the long run.
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Old 01-31-2013, 07:19 PM
 
Location: Eastern Washington
17,158 posts, read 56,905,862 times
Reputation: 18462
Quote:
Originally Posted by DavieJ89 View Post
I dont pay $300 a month on my car, more like $200, and I am already saving $300 a month right now with my current expenses, and I am also planning to attend school so the financial aid refund will help a little bit

Is it so wrong of me to spend 4 more years in a car loan because they car I've ALWAYS wanted for the past 4 years has FINALLY become affordable to me?
Not the answer you want to hear, but, the right answer would be to stick with your cheap, paid-for car till you get done with school. Delayed gratification.

The SE-R is OK, but, for $10.5K, there are a lot of other cars that would hold their value much better. You could for example buy a very good C4 Corvette for that money. I still would not borrow money while in school to buy an expensive car, but if you are going to do that, at least get a car that's not depreciating rapidly. 10.5 would buy a damn good Miata, too.

Borrowing almsot 10 grand to buy a car you want, but do not need, while you are in school and not making much money is not good strategy. Any of these will be a distraction from the school work. Keep your eye on the ball, so to speak.
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