12-25-2010, 04:47 PM | #1 |
Massive flaming dildos.
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Getting a car loan.
I'm 18 years old, have a decent job and want to buy my first car. My current Civic was given to me by my parents.
I have my eye on this 2002 Suzuka blue Honda S2000 with 75,000 kms. He's asking 15,400 for it, but I'll prob get him to go 15. One of the best deals I've seen in Ontario, usually these things go for 20k+ with that kind of kms and this ones in a unique color. I make around 600-800 bucks a month right now, but I am going back to my old job WHILE working this job, so I'll be making 1600-2000 with my old job and 400-600 with my current job on top of that, so around 2000 minimun monthly income. I've been waiting forever to buy an S2000 and now I got 1000 bucks from my grandma and I could use that as a down payment. Now... Have any of you gotten a loan around the age of 18? With no credit whatsoever? I plan on doing a 4-5 year loan because I plan on keeping this car for quite a while(It'll be my summer car, keeping the Civic for winter), they're out of production and I just plain love the damn thing. Any tips or advice you guys can give me about getting a loan at my age?
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12-25-2010, 04:54 PM | #2 |
Massive flaming dildos.
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Re: Getting a car loan.
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12-25-2010, 05:04 PM | #3 |
FFR Player
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Re: Getting a car loan.
Don't do it unless you're damn sure you can make payments until you're done. Don't get yourself into something you can't afford.
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12-25-2010, 05:05 PM | #4 |
Praise the sun mofo
Join Date: Sep 2005
Location: Lordran
Age: 32
Posts: 4,281
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Re: Getting a car loan.
that is a nice car though
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12-25-2010, 05:06 PM | #5 |
Praise the sun mofo
Join Date: Sep 2005
Location: Lordran
Age: 32
Posts: 4,281
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Re: Getting a car loan.
and yeah what wc says
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12-25-2010, 05:17 PM | #6 | |
Massive flaming dildos.
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Re: Getting a car loan.
Quote:
I MAY be able to get my grandma to buy the car and I can pay her back, considering I'd have no interest rates, and this would make me see her more often.
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12-25-2010, 05:21 PM | #7 |
FFR Player
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Re: Getting a car loan.
realize that 5 years is a hell of a long time and 300 dollars is a lot of money to be paying a month. You may be able to perfectly afford it now but if you plan on moving out you won't be able to pay for much else. Just saying, make sure you asses all aspect of the expense. Don't just think about being able to afford it now but in 2,3,4 and even 5 years from now
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12-25-2010, 05:24 PM | #8 |
Massive flaming dildos.
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Re: Getting a car loan.
I can always get the other one, 9500 bucks, 210,000kms.
I wanted this one because of the low mileage and color.
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12-25-2010, 05:27 PM | #9 |
FFR Player
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Re: Getting a car loan.
210k? Jesus that's a lot
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12-25-2010, 05:49 PM | #10 |
Massive flaming dildos.
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Re: Getting a car loan.
It's a honda.
Most have gone 200,000 MILES. Which is 324,000kms
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12-25-2010, 06:03 PM | #11 |
ITG Stepartist
Join Date: Aug 2005
Age: 35
Posts: 231
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Re: Getting a car loan.
14k in debt when your 18 for a car... bad idea. Is there something wrong with your current civic? If it's breaking down then buy a car. If not just save your money.
Ask this question, do YOU really need it? |
12-25-2010, 06:08 PM | #12 |
FFR Player
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Re: Getting a car loan.
I know how much 210k km I'm not an ignorant american
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12-25-2010, 06:14 PM | #13 |
Nothing.
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Re: Getting a car loan.
You say you can afford $300 a month?
That's pocket change when it comes to owning a high performance vehicle. How about insurance, and maintenance costs? You know damn well you're going to break it, and since S2's are discontinued, parts are expensive, and labor even more. If you can't afford $800 a month, don't buy it. Not to mention the speeding tickets you're going to get. Also, since you're JUST NOW going back to work at your old job, good luck getting ANYONE to get you a loan, you need work history to get approved, so stay at both jobs for at least 6 months, then you can go get a loan, otherwise, probably out of the question. Go take advantage of your grandma's money. I went through the same thing when I HAD to have my 3000GT, I thought I made plenty of money, turns out, it looks good on paper, but not once you actually experience being broke all the time you regret it. Last edited by darkshark; 12-25-2010 at 06:17 PM.. |
12-25-2010, 06:16 PM | #14 |
FFR Player
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Re: Getting a car loan.
DS touched on the other points I was going to talk about
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12-25-2010, 06:31 PM | #15 | ||
Massive flaming dildos.
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Re: Getting a car loan.
Quote:
forgot sorry <3 Quote:
What do you think of me buying the cheaper, more used s2k? 10,000 from the bank isn't too bad.
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12-25-2010, 06:49 PM | #16 |
ITG Stepartist
Join Date: Aug 2005
Age: 35
Posts: 231
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Re: Getting a car loan.
I'm not kidding, that is a lot of money to be in debt when your 18. I'll say keep saving and put a bigger down payment, 2-4 grand, payments get lowered, and you should be good to go. That's my advice if you want this car. Perhaps your Honda can keep going for 6 months while you save.
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12-25-2010, 07:00 PM | #17 |
The 40% Iron Chef
Join Date: Jan 2005
Location: Denver
Age: 33
Posts: 4,894
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Re: Getting a car loan.
putting yourself down for 10k is probably worse than 15k if the car has been driven about 3x as much.
I'd say, if you want a car, get something more reliable than a cool honda sportscar, you'll be real happy you did. If anything get yourself a new civic, you'll hold onto it for a hell of a lot longer than a convertible
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12-25-2010, 07:16 PM | #18 |
Forum User
Join Date: Jun 2009
Location: Houston
Age: 19
Posts: 2,964
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Re: Getting a car loan.
Trade in your Civic. Get a year round car/truck.
edit: I was planning on getting a (new) used car. Glad I didn't because I'm going back to school and I won't be able to work as often (just seasonal). |
12-25-2010, 07:25 PM | #19 |
Nothing.
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Re: Getting a car loan.
Seriously it would be wise to just hold off on this car, I know you're anxious because you just got $1,000 and all, but keep your common sense intact.
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12-25-2010, 09:27 PM | #20 |
FFR Player
Join Date: Mar 2007
Posts: 212
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Re: Getting a car loan.
good god how many crap threads can you make about your crap life and youre crap cars
LET IT GO |
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