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Can I afford a GT-R


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#1 Rbs750

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Posted 03 May 2021 - 09:55 PM

Hey all,

The GTR has always been on my short list of cars I'd absolutely love to own.
I've recently developed my growing business to a point where I have $960 left every week after paying living expenses and tax. This is in Australian dollars.

Here in Australia, 2009-2010 GTR's go for $85,000-$100,000 with sub 100,000kms on the clock (most around 60-70k kms)

I haven't gotten an official quote, but going off the car loan calculators I've done, I can finance a GT-R for around $1200 per month or $300 per week over 7 years. This works out well as it's a car I'd like to keep for 10 years.

I have a lot of questions and will greatly appreciate any advice:
I've never financed a car before, what do I need to look out for?
When it comes to buying cars such as this, is financing the norm or do people generally save up and buy outright? I feel I'd rather finance the car whilst still saving $600ish per week rather than saving up 100k over a few years and then spending it all at once. Even though I'll end up paying around 20k in interest, it's more convenient IMO. However if this is a unresourceful outlook to have, fill me in. As I said I'm new to all this and I'm not quite sure how people usually do these things.

Now onto the car:
How reliable are 2010 models? I've heard there can be issues with the launch control.
What's the upkeep like? I gather tyres and servicing will be on the more expensive side but they're not exactly high frequency expenses. However of there's anything else I need to look out for, please let me know.
Does the novelty wear off? I feel it's a car that would always be a joy to own, but would love to hear from people who have owned one for a few years.
I could always go for an AMG C63 or E92 M3 for around half the price, but they don't fall into the "dream car" catagory where the GTR does. However if this is something that is going to cost me a whole lot more than I'm thinking it will, I'd like to know.
And finally, how does the GTR go as a daily driver? My assumption is that it'd be one of the most practical daily supercars available. My partner and I do have an SUV that we get around in for family things etc. so I'd be driving the GTR to work and back 4 times per week, which is a total or 24kms + I'd weekend drive it occasionally and likely get to the track 1-2 times per year. I dare say I'll average 80-120km per week so about 4000-5000 per year.

I know that was a lot of questions and all reponses will be greatly appreciated. I also hope I've given enough info.

Cheers!

Edited by Rbs750, 03 May 2021 - 09:59 PM.


#2 richj92

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Posted 04 May 2021 - 06:15 PM

1. https://www.gtrlife....r/#entry4145522

2. https://www.gtrlife....t/#entry4146128

#3 Gdzilla_

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Posted 04 May 2021 - 07:09 PM

Holy crap... $85k - $100k

I’ll sell you my car... and I am no where near 100,000km’s lol


Current Stable:
2009 R35 Premium Edition 'GDZILLA' / Ivory Pearl / Ebony / brought home Sept. 8th 2008 / weekend warrior
2006 Solstice 'EMILEY' / Olympic White / Ebony on Suede / for those 'Top Down' summer days
2014 GMC All Terrain Sierra 4x4 'C2SKYE' / Summit White / Ebony Faux Carbon Fiber / trailer hauler
1999 Vulcan Nomad 'TAZ' / Pearl Boulogne / Candy Arsenate Green / quick weekend get-a-ways
2008 Vulcan Classic LT 'PEARL' / Crystal Pearl White / Metallic Titanium / quick weekend get-a-ways for the wife
2019 Tucson Ultimate AWD 'POLRCUB' / Winter White / Ebony on Beige / Wife's daily driver
'EMILEYII' / Solstice battery powered ride on car / White / daily driver for my daughter
'GDZILLAII' / R35 GTR battery powered ride on car / White / weekend warrior for my daughter
1999 R34 Gtt Skyline / White / Ebony / Sold

 

 


#4 Rbs750

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Posted 04 May 2021 - 09:27 PM

Lol, this is Australian Dollars

#5 richj92

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Posted 04 May 2021 - 09:30 PM

Holy crap... $85k - $100k
Ill sell you my car... and I am no where near 100,000kms lol


Thats in Australian dollars ($60-70k USD)

#6 Rbs750

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Posted 04 May 2021 - 11:28 PM

Also, I'm not sure what the per annum refers to on loans.

I can get a $100k loan at 6% p.a over 7 years. Does this mean that I pay 6% of the loan value ($6000) interest per year? If so, that would end up being way too much as I'd be paying 42k in interest.

Or is is 6% of the amount paid off every year? This would be around $14,500 every year which equals $855ish and would just be $6000 paid in interest throughout the life of the loan, which sounds too good to be true.

If it's the former, I'll drop this whole idea. Or is it something in between that I'm missing entirely?

#7 archan

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Posted 05 May 2021 - 12:01 AM

Its the former. 6% interest is bonkers around these parts (Sweden).

#8 707supra

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Posted 05 May 2021 - 03:27 PM

Credit score and down payment will be your biggest factor. Here in the United States a used car loan for a GTR from a private seller will typically have a higher interest rate than a dealership. 2.5% interest rate is attainable with a great credit score, and up to 5% for average. It all depends on your financial situation, aside from the monthly payment, how much do you have set aside for gas, maintenance cost, if something breaks, aftermarket parts (we all get the itch).

#9 Gdzilla_

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Posted 05 May 2021 - 06:43 PM

Lol, this is Australian Dollars

 

 

Thats in Australian dollars ($60-70k USD)

 

Yes Boyz, I know.. that’s why its appealing to me... I’m in Canada. 


Current Stable:
2009 R35 Premium Edition 'GDZILLA' / Ivory Pearl / Ebony / brought home Sept. 8th 2008 / weekend warrior
2006 Solstice 'EMILEY' / Olympic White / Ebony on Suede / for those 'Top Down' summer days
2014 GMC All Terrain Sierra 4x4 'C2SKYE' / Summit White / Ebony Faux Carbon Fiber / trailer hauler
1999 Vulcan Nomad 'TAZ' / Pearl Boulogne / Candy Arsenate Green / quick weekend get-a-ways
2008 Vulcan Classic LT 'PEARL' / Crystal Pearl White / Metallic Titanium / quick weekend get-a-ways for the wife
2019 Tucson Ultimate AWD 'POLRCUB' / Winter White / Ebony on Beige / Wife's daily driver
'EMILEYII' / Solstice battery powered ride on car / White / daily driver for my daughter
'GDZILLAII' / R35 GTR battery powered ride on car / White / weekend warrior for my daughter
1999 R34 Gtt Skyline / White / Ebony / Sold

 

 




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