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Discussion Starter · #1 ·
Just wanted to say hi to everyone on GT-R Life. I'm new to the forum and actually new to Nissan. I've been into Honda's for years and after owning 6 of them, I think it is time to grow up and purchase a respectable vehicle and move on from the Honda scene. I'm tired of engine swaps and insane turbo set-ups, just to try to keep up with cars like the GT-R, only to fail miserably. So I am set on doing whatever it takes to own one.

I read the entire "How do you guys afford these" post last night and it seems that most people on here don't think it's possible to own one if you have kids or a mortgage and don't make over a 100k a year. I'm hoping to prove those guys wrong, I'm a Navy veteran who has served in OIF and OEF, I have a fiance, step-daughter and one on the way, only reason I'm mentioning this is because, apparently having a family is supposed to make ownership impossible. Also at 24 years old I've purchased my 1st home that is well within my budget, and in my 2nd of 5 years in college on the GI Bill for Accounting so I do get a nice check that covers my mortgage. I've always gotten everything that I've set out to do, (not without working my @$$ off for it, of course) but this is a big choice, and I'm posting to see how realistic my purchase plan is as this is my largest purchase that is something that is not needed.

I intend to save the $7 a day now that I quit smoking ($2555 a year); $150 a paycheck (3900); and hopefully $200 out of my GI Bill Housing allowance (approx. 2000). This is about $8455 a year and I would like to keep this up for about 3 years (totaling $25,365). Does anyone think that is a decent enough down payment on a used GT-R? Does anyone have any other budgeting suggestions to get the funding saved up quicker, i.e. things you had to cut out of your budget to save more cash, type of accounts to put the money in to build up more interest, etc. I understand the amount these cars cost and I know that this is going to take 3-5 years, but I have dependable transportation that is almost paid off, so more money will be free in my budget soon to make saving easier.

I know that most GT-R owners are business owner or are very experienced with saving and investing. I am still in school so finance and accounting courses are definitely showing me more things, just looking for advice from the experienced. My absolute goal is to own one that has less than 40,000 miles and to do it in less than 5 years from now (before I'm 30). PLEASE REPLY, ANY SUGGESTIONS ARE WELCOMED.
 

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You don't have to prove anyone wrong, You already have a plan, just stick to it and do what you need to do to get to your goal. Don't worry about what people one this forum say about not being able to buy one because of kids/mortgage or not making over xxx amount of money. I have 2 little girls (5 and 1) and we have a mortgage on our house and i haven't worked since the end of 2008 and i have owned a 09 GTR and own a 12 right now

I honestly wouldn't be too worried about the miles on the car when you are ready to buy, My first one was a 09 that had 43k miles on it when i bought it and it ran and drive perfect. Just check it out good and find out whatever history you can about the car
 

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You don't have to prove anyone wrong, You already have a plan, just stick to it and do what you need to do to get to your goal. Don't worry about what people one this forum say about not being able to buy one because of kids/mortgage or not making over xxx amount of money. I have 2 little girls (5 and 1) and we have a mortgage on our house and i haven't worked since the end of 2008 and i have owned a 09 GTR and own a 12 right now

I honestly wouldn't be too worried about the miles on the car when you are ready to buy, My first one was a 09 that had 43k miles on it when i bought it and it ran and drive perfect. Just check it out good and find out whatever history you can about the car
how did you get a 12 and dont work lol i dont work either but i cant upgrade lol im looking for work now but no way am i slaving im 28 and im done with that shit,i want a job that i like witch has to do with motorsports and stuff

and why is your username evil and have a pic of jesus?? i think i already asked you that?lol
 

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+1 Evil jesus.

I have a mortgage, 5 kids, and a vet.

It doesn't take a lot of money, but be prepared to cover consumables (maintenance).

I don't make $100k. It depends on your living costs/priorities. I've got 4 other cars, and getting ready to purchase another one.
 

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how did you get a 12 and dont work lol i dont work either but i cant upgrade lol im looking for work now but no way am i slaving im 28 and im done with that shit,i want a job that i like witch has to do with motorsports and stuff

and why is your username evil and have a pic of jesus?? i think i already asked you that?lol
Its "buddy Christ" from Dogma, Its just funny Also i just decided i wanted another GTR again, Wife said if i was ever to get another it had to be white or blue and since she didn't drive the 09 i could buy another, I found the blue one and told her, and she said whatever, just buy it, so i did. Its also my daughter's favorite car
 

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Discussion Starter · #7 ·
Thanks for the help EviL. I didn't necessarily mean to prove someone wrong. Just kinda hoping they aren't right. I know everyone's financial situation is different, just hoping that my savings plan actually makes some kind of sense. I'm not trying to be on a Ramen diet to afford to save up for this but maybe there is somewhere I could be putting my money to make more interest than a savings account?
 

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you sound like you have a good head on your shoulders.....are you saving all this money and living paycheck to paycheck?.....do you have a 529 set up for your child on the way?....do you financially contribute to your stepdaughter?....do you have 3-6 months of cash saved up in case something happens?....

all that being said at age 24 with a wife, a stepdaughter, one on the way, and being in school, while it may be financially possible to own a GT-R it is probably not a wise decision at this point in your life....this is coming from someone that is very financially conservative though....We all have different priorities in life as well....I'll spend almost as much money on a car than I paid for my house.....ask most people (myself included) and they'll say it's absolutely crazy.....I also don't have any children....as far as looking 5 years out a lot of things can change (not to be pessimistic but anything is possible)....another kid, divorce, illness, etc....

concentrate on saving some cash for a rainy day and contributing to a 529, then see what your monthly budget looks like....best of luck in whatever decision you make...
 

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Sir,

First and foremost thank you for your service. Secondly,think of your plan differently. Instead use simple rules as follows In my opinion to see if you can "afford" with breathing room and not suffocating:

1. Have a minimum 3-6 months of mortgage and bills covered in cash (depending on your comfort level) - THis is the hardest one for many and one that makes a large differnece. 6 months would be ideal
2. Have a 401k through employer if not open a roth ira. and contribute monthly. i dont believe you get 401k now but later it's possible. THe roth ira is wise at the age of 24 to begin.
3. have a college 529 savings plan for your children
4. have an "Expenses" fund for your children that you can spend on. Many costs arise such as daycare/diapers/medicine/clothes/ school programs etc
5. Have a car maintenance fund
6. Spare money - save toward down payment and buy as new as you can when you are ready
 

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Discussion Starter · #10 ·
I do have a 401k and I do contribute to the step daughter. So I'm used to the diaper and baby food expenses and so fourth. Fiancé works full time and if she didn't we would be paycheck to paycheck. So her income is almost 100% extra. My savings plan lines up with also paying off other bills in the years leading to my purchase. Maintenance funds would be all about continuing my plan after purchasing the car. I have not looked into the 529 but definitely will be. As far as funds for emergency situations I have none. I might have to up my savings amounts as I want to stay on schedule for the GTR, but play it smart too. I guess you could say I'm just starting off but I really want to have this car so if I need to cut other extras, I'm willing to do anything as long as my family is still happy and has everything. Sorry this post isn't written as well as I'm on my iPhone cause I can't sleep due to thinking about the car. I'm actually going to the dealership just to look at one with no intentions of anything other than seeing it in person again. Thanks everyone for you input. By far the best forum I've ever been on.
 

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Just wanted to say hi to everyone on GT-R Life. I'm new to the forum and actually new to Nissan. I've been into Honda's for years and after owning 6 of them, I think it is time to grow up and purchase a respectable vehicle and move on from the Honda scene. I'm tired of engine swaps and insane turbo set-ups, just to try to keep up with cars like the GT-R, only to fail miserably. So I am set on doing whatever it takes to own one.

I read the entire "How do you guys afford these" post last night and it seems that most people on here don't think it's possible to own one if you have kids or a mortgage and don't make over a 100k a year. I'm hoping to prove those guys wrong, I'm a Navy veteran who has served in OIF and OEF, I have a fiance, step-daughter and one on the way, only reason I'm mentioning this is because, apparently having a family is supposed to make ownership impossible. Also at 24 years old I've purchased my 1st home that is well within my budget, and in my 2nd of 5 years in college on the GI Bill for Accounting so I do get a nice check that covers my mortgage. I've always gotten everything that I've set out to do, (not without working my @$$ off for it, of course) but this is a big choice, and I'm posting to see how realistic my purchase plan is as this is my largest purchase that is something that is not needed.

I intend to save the $7 a day now that I quit smoking ($2555 a year); $150 a paycheck (3900); and hopefully $200 out of my GI Bill Housing allowance (approx. 2000). This is about $8455 a year and I would like to keep this up for about 3 years (totaling $25,365). Does anyone think that is a decent enough down payment on a used GT-R? Does anyone have any other budgeting suggestions to get the funding saved up quicker, i.e. things you had to cut out of your budget to save more cash, type of accounts to put the money in to build up more interest, etc. I understand the amount these cars cost and I know that this is going to take 3-5 years, but I have dependable transportation that is almost paid off, so more money will be free in my budget soon to make saving easier.

I know that most GT-R owners are business owner or are very experienced with saving and investing. I am still in school so finance and accounting courses are definitely showing me more things, just looking for advice from the experienced. My absolute goal is to own one that has less than 40,000 miles and to do it in less than 5 years from now (before I'm 30). PLEASE REPLY, ANY SUGGESTIONS ARE WELCOMED.
Thank you for your service.
I am not in a position to give advice; however I have to agree with gilly and broham. That said, I think the sum you are showing as down payment is more than adequate if you consider the monthly insurance, car loan monthly payments and maintenance. If I have that much cash, instead of putting all of it as down, I would place it in a savings and finance the car via a credit union or the like that can offer low rates. Then I would pay the monthlies from that account. This way you always have an emergency fund and worst case scenario, you can sell the car if something bad happens.
 

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Discussion Starter · #12 ·
Sir,

First and foremost thank you for your service. Secondly,think of your plan differently. Instead use simple rules as follows In my opinion to see if you can "afford" with breathing room and not suffocating:

1. Have a minimum 3-6 months of mortgage and bills covered in cash (depending on your comfort level) - THis is the hardest one for many and one that makes a large differnece. 6 months would be ideal
2. Have a 401k through employer if not open a roth ira. and contribute monthly. i dont believe you get 401k now but later it's possible. THe roth ira is wise at the age of 24 to begin.
3. have a college 529 savings plan for your children
4. have an "Expenses" fund for your children that you can spend on. Many costs arise such as daycare/diapers/medicine/clothes/ school programs etc
5. Have a car maintenance fund
6. Spare money - save toward down payment and buy as new as you can when you are ready
I guess with all the advice from gilly and broham, I need to have more set aside for what's more important. I do have a 401k and roth IRA that I can contribute to, bi-weekly and my company matches my contribution. But I do not have 3-6 months of mortgage and bills set aside. I have thought about it, it just really is hard as it is a good amount to save up and has no reward at the end. But I do see the importance. I am with a credit union thankfully. I do all of my banking through them. I had actually talked to them and found out that I could finance between 30-35k and be between 5 and 600 monthly (where I would like it to be). That is where my plan came from to try to save up about 30 to 35 grand and search for a GT-R in the 60's.

But I guess I'm realizing that someone in my position shouldn't be looking for that as it will probably have too many miles and the warranty will most likely be expired. I guess the best I can do is to save anyways and hope that this becomes a possibility in 7-10 years. Really sucks but I want this car. Nothing compares to it, and it is the only car where there is only one thing I wish was different (auto should've been manual) but that's another topic.

Thanks again Gilly and Broham. I will continue to save and I'm looking to start the 529 today. The sooner I can get working on this the better. As I pay off other bills (credit card, daily driver car note, etc.) I will try to roll over those costs into my savings as I already live quite comfortably.

I also will be finishing my degree in the next 3 years, which hopefully will get me into a decent job. I expect so as not only will I have earned that but I will have 4+ years experience as I'm already an accountant for a gov't contractor with no degree. I guess you could say I'm an apprentice with decent salary. But I'm always looking to improve my financial situation, so if anyone knows of anywhere in MD looking for a Payables or Receiveables clerk, I'm open to improve my situation and speed this process up.

Thanks again for all the advice. It's looking kinda grim but I'm going to keep pushing for this.
 

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I saved for many years to buy my GT-R. I found a good deal on one and jumped on it. I couldn't tell from your post if you're comfortable with doing transmission and oil changes yourself, but keep in mind the dealer wants roughly $1100 for a transmission oil change and for street driving they recommend every 18k miles. Also tires are roughly $600 each if you stick with the run flats.

For me personally I don't spend much on entertainment expenses so I would save between $500 and $1000 a month. Best thing I can say is don't rush it. The car will still be here and whatever you buy in 5-10 years will make the 09 look slow :).
This is a great forum and you could ask for people in your area to give you a ride and talk about the car. Good luck!

Sent from my HTC6435LVW using GT-R Life mobile app
 

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Inspired,

Don't fret man. You are extremely mature and are already ahead in terms of how you look at money management. Cyber said a great tip regarding credit unions. I think the only thing left for you is to just slowly save a few months for mortgage/bills. You seem to be on top of the other aspects and just start a simple college fund. The power of savings and pre planning is not "HOW MUCH" you put in right away it's more of WHEN you start. a 529 now will grow substantially along with 401k etc. The only thing you really need to save hard for is that RAINY DAY mortgage fund.

In a few years you'll be super comfortable, the 2013/2014 will be used or maybe even new, and as long as you have a little down payment, you can finance the rest. I forgot 1 killer final tip to make this all easier.

HAVE THE BEST CREDIT YOU CAN!!!!! As long as you maintain all that, the gtr will be attainable. Since the car will be below 6 figures slightly used, you can handle it. THe rules change when your goal would be an aventador or some other well over 6 figure car. Then you would need serious income, but to afford the slightly used gtr it is more of financial acuity. As far as your job is concerned, my other tip is not to think you'll automatically get a great job once you finish. Search for the best jobs today, look at their requirements, read the skill set needed. Look at the best positions out there and make that your goal. When you think that way, you are already ahead. The idea is developing and it's only a matter of time before you acquire those skills and can apply. I say this because that's what i did. In high school I looked at jobs for chief architects. I was not qualified obviously, but the requirements listed by the employer steered be towards the right skill sets to get to where I needed to be. Once you get there, then just always push yourself relentlessly to better your situation. That is true growth, it's a very rewarding feeling.

I know you'll get the car you want, hopefully a slightly used or even new. just get your ducks in a row and have it comfortably. That makes all the difference. Stay on the forum and read, and be active. Get to know the community. I just bought a house here, so i will still be in the area for quite some time, and look forward to seeing your GTR!
 

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This is the problem with the GT-R - it is SO affordable for a supercar (especially used) that it teases you and can realistically be purchased by the average person with good financial planning. Ferrari, Koenigsegg etc. are cool for watching on Top Gear but really are for the very well off.

I'll echo what others said: save for an emergency first but do the numbers on your GT-R and get preapproved from a credit union to see what your actual payments would be. Some rates are under 2%. Make very sure you know how much you will drive and factor in maintenance and tires. If it will be your only car the all season tires and baby seats are an option. If you DIY or have a good shop you can save a lot over the dealer.

I saved for years and my GT-R was delayed 6 months from ordering so I had time to get a good down payment ready. In a few years I'll actually own it instead of the bank!
 

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Discussion Starter · #16 ·
Thanks everyone, I appreciate all the help. I'm actually going to set up another account today and start the emergency fund as well. I do not want to take anything away from my original plan as I figured it to be a safe number to save and remain comfortable. I have some room and I guess I'll use some of it for the emergency funding. I had thought about it before but I just didn't have the will power to set aside money that is to - hopefully not have to be spent. But the GTR is my 1st priority and with that, I have to have a back up for all of my expenses as a close 2nd. I'll try to do the same amount in each and increas GT-R fund once the other is satisfied.

As far as the maintenance goes, I'm completely fine with trans flushes. Like I said in previous posts, I have had 6 Honda's and swaps are getting old. I've done plenty of work over the last 8-10 years on cars and haven't run into much that I cant do. Electrical is my weakness. With that said, hopefully, GT-Rs aren't like the wiring nightmares that 240sx's and 300zx's are. That was my main reason for never getting into those cars.

Destroid and Broham if you don't mind me asking, how much did you guys save up as a down payment and how much was financed? Sorry if that's too personal. I'm just kind of curious as to what I would be looking at as rates on new cars are generally cheaper than those for used. I know from experience that you can get a better rate on new cars than used and it'll actually end up being cheaper per month. I'm seeing new ones go for around 97 and if I could bump that down, 30k with the down payment, I'm just wondering what a monthly would be for it if I financed 67K. Loan estimators online show around 1050 a month per 72 months. Just looking for real world comparison.

If anyone around the eastern shore of MD wants to show off there car and brag about it to me in person. I'm more than willing to stand there with my jaw on the ground drooling. I've only seen one around EVER on the eastern shore. I've only seen about 3 since they've been out. Probably why I want this so bad is it is not a common car over here. I would love to talk with an owner in person.
 

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All said and done, you should treat yourself to a 1-2 day rental of a gtr. I have done that with lambos and ferraris. Clear your schedule and enjoy the day.
 
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