View Full Version : 2008 Infiniti G37?


Naterz
01-01-2008, 01:54 PM
What is the standard income to afford this car?
I have a 2005 Toyota Corolla CE and got that with no proof of income....
Ive had a constant job for two years, 1200/month income and no late payments with a credit score of 602...
I'm only 19 so it's hard to elevate because of short credit history...
Sir, I plan to get this when i graduate college in 4 - 5 years lol

Stupid Flanders
01-01-2008, 01:54 PM
The G37 is about 3 times more expensive than your Corolla was brand new.
It would depend on your living situation and how much your other expenses are.
Even if you made $6,000 a month, the car would be tough to afford if you had a mortgage, a family to support, etc.

Get your credit score up over 700 and you won't get screwed on the interest rate or you could lease the G37 for about $480 - $500 a month.
Just make sure not to let the desire for a car overtake your normal living situation.

spudmunkey
01-01-2008, 01:54 PM
602 isn't very good...it'll cost you an arm and a leg in interest rate unless you are putting a butt-load down as a down payment. $1,200 a month isn't a lot. This is at least a $34,000 car. Add sales tax, and it's another $1,800-2,000. Let's say you pay $500 a month for 5 years. You'd still have to put $6-8,000 as a down payment, and that's with no interest. Add to the fact they because of your low credit score, the bank will probably set high minimun standards on insurance on the car, which will make your insurance more expensive. Plus, you're under 25, so it will cost a lot anyways.

As far as a "standard income" there is no such thing...different banks have different requirements, and it also depends on how many other bills you have. If you don't pay any rent, well obviously you can afford a higher car payment. On the other hand, If you want need to pay rent in the time you own this car, chances are you're going to be paying ALL of your money to the car payments., and won't be able to save much for a down payment/security deposit on anything else.

Honestly, the car you're looking at is fabulous, but it probably costs at least double the car you have now.

It should be a sign that it's hard to buy an expensive car when you're so young with poor credit. Maybe stick with your Corolla, or get something sporty but cheaper to tide you over and get a better credit rating, which will improve not only your chances of getting a car loan, but also you're down payment needed will be lower, and your interest rate will be lower.

Might i suggest either a Scion tC (the coupe. I hate their other cars) or the Altima Coupe.

If you go that route and plan to not keep it until it's paid for, buy used. Let the 1st owner absorb the depreciation the car suffers in their first year or two, other wise when it comes to trade in/sell the car, it won't be worth as much as you'll still owe.

edit, after reading author's edit:
Sorry...one gets used to 17 year olds on here thinking they need a lexus. :-p Just 1 year ago, my credit rating was 618. I got a cell phone, and made sure thet EVERY SINGLE PAYMENT was made on time, and thet EVERY SINGLE PAYMENT on my credit cards was not only on-time, but at least the mimimun payment. Within one year, my credit rating was up over 140 pts, and I got a rockin' interest rate on my most recent car loan, plus had to put down less money. Kinda funny, but because of my new car loan, my credit rating is over 800. :-p