Question about buying a Z32
#1
Question about buying a Z32
Hi everyone so I'm trying to buy a 1990 Nissan 300ZX I've looked at the car and test drove it runs great and drives great the person that owns it wants 5000 for it and it comes with a full service history even has a history of the oil changes all the way back from the first oil change in 1990 its even unmolested and it has 132000 miles on it but my problem is that I need a co signer for the loan but my dad won't do it cause he thinks the guy is asking to much money do you think its worth 5000 will try to upload a pic of it soon just so you can see it
#2
Price sounds about average for around here (New England) but try window shopping on Craigslist. You can check out prices for the car in various cities and states for a better idea. All your dad sees is a 15 year old car with a 'lot' of miles. ( That wouldn't be a lot of miles on a Z31. )
You could take a bigger share of the loan yourself (cash) - borrow less from the lender and get dad to co-sign a smaller loan. Carry good insurance on the Z - but the best collision/theft coverage will only pay you the book value-less-deductible, no matter how much you paid for the Z So find out what your insurer would say is the book value for it. Maybe you should not borrow more than that...
You could take a bigger share of the loan yourself (cash) - borrow less from the lender and get dad to co-sign a smaller loan. Carry good insurance on the Z - but the best collision/theft coverage will only pay you the book value-less-deductible, no matter how much you paid for the Z So find out what your insurer would say is the book value for it. Maybe you should not borrow more than that...
Last edited by zxguy1986; 08-01-2015 at 06:55 AM.
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