Last post on Apr 20, 2012 at 6:55 AM
You are in the Infiniti G35
What is this discussion about?
Infiniti G35, Scion tC, Infiniti M35, Car Buying, Car Selling, Coupe, Sedan
#10 of 15 Re: Trade in a newer car for an older one? [jamerob02]
Apr 19, 2012 (5:01 pm)
Most car loans front-load the interest payments so you pay more interest in the early years and more principle in the later years.
If that's the case with your loan, you might actually end up paying MORE interest if you refinance - even at a lower rate.
#11 of 15 Re: Trade in a newer car for an older one? [fedlawman]
Apr 19, 2012 (5:57 pm)
Can't really add to what kirstie, ate, or fed has said. All of it is good advice. Personally, I'd keep the Scion and pay it off. Get a lower interest rate and pay it off. Then, do whatever you want. Don't let what others have influence your decisions. That's a fools game.
#12 of 15 Re: Trade in a newer car for an older one? [jamerob02]
Apr 19, 2012 (8:03 pm)
If you refinance it, the monthly payment will be lower, but you will also be resetting the clock--if you refinance for 60 months, you will be making payments for 60 months from today, plus however many months you have already been making payments on it.
The resale value on an Infiniti will not be that different than a Scion, but the Infiniti is a nicer car. Any repair cost will be higher on the Infiniti, but they are fairly reliable. Insurance and taxes will be higher on the Infiniti. I would suggest refinancing the Scion to a lower interest rate but continuing to pay the same monthly payment amount as you are now. You will end up with a car that is fully paid for sooner this way.
Apr 20, 2012 (6:35 am)
why not consider a used TSX. It will be nicer than the Scion, just as reliable, and cheaper than the Infiniti. A G35 will be more expensive to maintain, it is a performance car, which means more expensive tires, brakes, etc.
#14 of 15 Re: Options [anonymousposts]
by kirstie_h HOST
Apr 20, 2012 (6:55 am)
And I can testify that the G goes through both fairly quickly. New tires for my G were about $900. By comparison, my Ford replacements were under $500. New brake pads & rotors (because you have to replace rotors w/pads on these) came to over $300, and I can't recall whether that was all 4 or just 2.