i had my 2007 350z with 48,000 miles that i put in one year and decided to trade for an 08 G37 S with msrp of 44,600 i was very much upside down on the z But this was the outcome. Your oppinions are needed. i leased the car for 690/mnth with 15,000 miles a year free maintnance throughout the lease and with 3000 dwn due at signing. They droped price on G to 39,000 but otd came out to 49,000 i was apparently upside 10,000 does this sound right? im very happy with the car and was tired of the Z but had to get rid of it..

 

I think it's a terrible deal. Rolling in 10k in negative equity at July's rates? Ouch. Not that really matters now since I am assuming you already pulled the trigger?

 

Negative Equity 99% of the time is bad idea.

 

what do you mean exactly? o.k. the car was 44,600 and they tacked on 5,000 for the G remember the car was very much used

 

You just dug yourself into a deeper hole.

Why would you pull the trigger on a new car, financing it, exp when your old one has negative equity...

Sounds like a very dumb financial move. You're buying cars your cannot afford

 

Yup, think of it this way, you paying tax and interest on $5000 of a car you were already paying interest and tax on. That's like a double whammy if you ask me.
Rolling negative equity, specially of that amount, is a bad financial move. I can think of a lot of nicer cars to lease at $690 a month.
I don't think it's a matter of not being able to afford the car. Obviously you can since you signed on the dotted line. However, you aren't the leasing type if you are putting 48k miles in a car in one year.

 

If you have not done the deal yet than dont. Come on man just focus on paying off the Z. If you can afford a 700 dollar payment a month than you should of put it into paying off the z and put the 3000 into the z also. But if you did it than it is done and you need to have no regrets and enjoy your G.

 

^ +1

 

don't be so harsh on this guy.....
well if his car was that used up... i wouldn't call it a "bad deal" maybe a "bad move" but not a "bad deal"

the question is..... if you put 48,000 miles on a 2007 Z.... how are you gonna lease a car that only allows 15,000 miles a year?

 

OMG The negative equity from the Z was bad enough. But, unless your situation has dramatically changed to where you can stay within the 15,000 mile per year restriction from the lease, then you simply compounded the issue even further.

Otherwise, when your lease is up you're going to end up owing a HUGE chunk of money and you're going to be left without a car. Unless that huge chunk you owe can be put into another car as negative equity, but again it just creates more of a financial problem as the months roll by.

You need to go take a college course in your spare time on finances, no seriously.

Take the suggestions from the others and just pay off the Z, ASAP. Then, use the Z as a downpayment (even with high mileage they'll give you SOMETHING for it).

 

yeah, thats like paying for your credit card debt with another credit card. LOL

 

yeah, try to pay off the Z first...

how the hell did you get 48 k miles in one year

 

well it must have been a bad move but im very happy with the car! sure im probably paying more than i should, but i did use the **** out of the z, and preety much was already out of warranty. I didnt put anything down on the z when i financed so i dnt really c why im losing out if anything i have a bad *** car that ive wanted since it came out, but this will definitely help me with my next car! it's too late now so i might as well enjoy it anyway whats 700 a mnth anyway i blow more than that going out drinkin on weekends i might as well put towards something like the G!!! Not bad for a 22 year old in miami

 

Wow.... crazy $$ for a G.

 

I guess I'm not too surprised to find out you are only 22. I'm not saying you are stupid, impulsive maybe, but I willing to bet that you learned something valuable for your next lease. Just know one thing, you're leasing, so you're not really putting much into anything. Not to mention I just noticed on another thread that you're leasing for 5 years? I hope you're more cautious next time around.