6th Generation Maxima (2004-2008)Discussion of the 6th generation Maxima. Come see what others are saying.
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View Poll Results: How much do you pay a month for your max
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04 Maxima 3.5 SE (Built 03/04)
Majestic Blue/5AT
Leather/Moonroof/Bose
(Bought 08/07 with 27,700 miles)
37,000 miles currently
Mods - (07-08) Spoiler/Cover Plate
Previous Vehicle - 94 Firebird Formula (5.7/LT1)
(Sold 08/07 with 104,000 miles)
Quote:
Originally Posted by 04BlackMaxx View Post
They say if you have to get a 6yr loan, you shouldnt be buying the car bc you cant afford it.
Quote:
Originally Posted by 2LEET4U
that makes no sense.... the reason for a 6-7 year loans are to make the monthly payments more affordable for people. If you cant afford a 4 yr loan, then go for the longer payment plan in order to reduce your monthly payment.
I agree with 04BlackMaxx but I see 2LEET4U's point. Here is the reason.
If you have to finance a car for 6-7 years in order to make the payment affordable for you, then you're probably buying too much car. I don't care what car it is, if you're financing for 7 years, you will end up with lots of negative equity in the car, meaning the car will depreciate way faster than you're paying it off. It just isn't a wise financial move.
Yeah unless you can pay off the car faster then the term of the loan, or you decide you are going to keep it 1 -2 years max.
__________________ Signature pictures are not to exceed the allowed size of 550 x 325 pixels 06 Max SE -- Customizing Since 10/08
Tint/07 Spoiler
PioneerAvic N5/2 Alpine Type R 12s
1000 watt amp
NEXT: HID and Grill
that makes no sense.... the reason for a 6-7 year loans are to make the monthly payments more affordable for people. If you cant afford a 4 yr loan, then go for the longer payment plan in order to reduce your monthly payment.
Its the fact that the car's book value declines and the extra interest you have to pay. Yes, its more affordable on a monthly basis, but it ends up actually costing you much more in the end.
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2004 SE Frost/Onyx Driver Preferred Pkg with rims
Its the fact that the car's book value declines and the extra interest you have to pay. Yes, its more affordable on a monthly basis, but it ends up actually costing you much more in the end.
correct, but that allows you to buy a maxie over 6 years instead of sentra in 4 if you get my drift
400/36 months... for an 04 se (fully loaded w/o navi, got it at 36k miles)
got 4 grand to pay off
you bought a used car for much less than most of these guys paid for brands new wheels. It is understandable to pay less or pay it off faster. Please compare apples to apples.
So if they let you buy a S550 over 12 years and keep the same payment as a maxima over 5 should you do it?
you're going into extremes to show your point but you aint got one. To pay off S550 would take more than 24 years with the same monthly payments, the car won't live that long. Maxima on the other hands will still be zipping around after 6 years so taking 6 years car loan is nothing out of ordinary. Please make sense when posting.
you're going into extremes to show your point but you aint got one. To pay off S550 would take more than 24 years with the same monthly payments, the car won't live that long. Maxima on the other hands will still be zipping around after 6 years so taking 6 years car loan is nothing out of ordinary. Please make sense when posting.
I think you made his point for him. On the 7th year, you're still paying for a $30k car. How much would a 7 year-old 6th gen worth, given it would have over 100k miles on average.
2005 $384.91/ mo w/ $9k down for 60 mos @ 2%. I still owe $7k, but I have some equity if I trade it in tomorrow.
I think you made his point for him. On the 7th year, you're still paying for a $30k car. How much would a 7 year-old 6th gen worth, given it would have over 100k miles on average.
2005 $384.91/ mo w/ $9k down for 60 mos @ 2%. I still owe $7k, but I have some equity if I trade it in tomorrow.
HUH???????????
When did 7 years come into the equation???????? What are you talking about????
When did 7 years come into the equation???????? What are you talking about????
84 months loan payment = 7 years. 6-year loan payment puts you in a slight better situation than 7, but still a 6 year-old car with about 100k miles, compound with high interest.
you're going into extremes to show your point but you aint got one. To pay off S550 would take more than 24 years with the same monthly payments, the car won't live that long. Maxima on the other hands will still be zipping around after 6 years so taking 6 years car loan is nothing out of ordinary. Please make sense when posting.
I didnt run the actual numbers, but I know I have 90,000 on my maxima and I just paid it off...I wouldnt want to be at 140k when its paid at the rate I drive...it would never be paid off so you might as well lease to get into a car you cant afford.
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2004 SE Frost/Onyx Driver Preferred Pkg with rims
Last edited by 04BlackMaxx; 10-05-2008 at 09:47 AM.
A coworker of mine just bought a 08 bmw 5 series...he had a honda civic. he said his payment went from 286 on the civic to 586 for the 5 series..
talk about payment shock lol
__________________ Signature pictures are not to exceed the allowed size of 550 x 325 pixels 06 Max SE -- Customizing Since 10/08
Tint/07 Spoiler
PioneerAvic N5/2 Alpine Type R 12s
1000 watt amp
NEXT: HID and Grill
Dont feel too bad...A co worker of mine has a 05 Max hes paying 482 a month he said his interest rate is 19 percent, but he filed bankruptcy too...soo...
__________________ Signature pictures are not to exceed the allowed size of 550 x 325 pixels 06 Max SE -- Customizing Since 10/08
Tint/07 Spoiler
PioneerAvic N5/2 Alpine Type R 12s
1000 watt amp
NEXT: HID and Grill
Guys on $28k which is what my 07 SE cost principle alone over 5 years is $467 with no down payment. So anyone paying less than this on a 07 or 08 is putting a hefty down payment to get there.
I chose to put nothing down and roll over $4k that I was upside down because they gave me 1.9% financing. There's no way in hell I would put money down at that low an interest rate, it's just not smart business.
525.18 for 5 years! (my first car loan) My first car (01maxima) I paid for in a full in 2004 (15500) But it's only making my credit better! It'll be paid of quicker than 5 years too, I do double payments year round.
__________________ 2008 Nissan Maxima SE Dark SlateFully Loaded w/ everything except Navigation
2001 Nissan Maxima SE Anniversary Edition **RIP**
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