loans, rich parents, mistakes

[AtownTalon]

First off, i am horrible at starting threads. I had this huge write up once again just to end up deleting it. I am tired of my car, Talon esi. One day ill be happy with it, only to find out some undeserving classmate's parents just got them an STI or GLI. I just want to know your guys opinions because of the large age group on these forums. Was toughing it out through High school or college with the same whip worth it in the end? Or was the loan/car payment path more convenient? Maybe i am letting jealously get the best of me?

[MPowerKai]

If you can afford it without much headache then why not? If it makes you happy. Just don't strain yourself. Remember, at the end of the day it's just a tool to get you from point a to point b.

[The Captain]

i'm from the school of: don't buy it unless you can afford it.

I saved, bought my car and am happy not to be in debt.

For some people, they would rather pay slowly and have now. I'd rather save slowly and have in the future for a lower price than if i paid interest.

[endlessmyk]

You're still in high school? No. Don't get a loan unless you also have mommy and daddy's money. But hey, if you have to impress your friends, debt will be your friend.

[endlessmyk]

What I did, was wait til I had the money, then took out a loan and set up an extra savings with just my car payment money. Built my credit and didn't really go in debt.

[zerioustt]

i dont understand when people hate on others who are better off.


i didnt get my car until i was 21, its the car i always wanted and was worth the wait.

[jdm free]

i find myself thinkin the same thing...im in my first yr of college and thought that i would just keep my car till i graduate which ive had for the past 3 yrs. now im contemplating selling it to get something a little newer less miles, n just a bit more expensive. i really want something different, i really cant say nicer becuase my car is actually nice, but i just think a change is in due time

[SovXietday]

I just took out a loan and am about to buy a 2nd car. Nothing wrong with it, just make sure that you can afford the car and the insurance and everything else you have to pay comfortably before you do it.

[MSPBoost03]

i got my first loan for a car in 11th grade (which i sold like 6 months later lol) with my grandfather cosiging, then right after graduation i got my s10 with my grandfather cosigning..right now i have 3 car payments (2 mine and 1 the wifes). truck should be paid off this summer..and my grandfather is loving his credit score lmao

[AtownTalon]

Thanks for the quick replies. I'm not looking to get something outrageous. my talon has 82k on it and it running strong. I was looking for more a project. Preferably a SR powered s13. I have a job and don't mind working my a*s off to have something I have been wanting since i was 12, but i'm afraid its not just a power struggle but more of me just being a fickle teenager. I really appreciate the replies though.

[italianblaze]

i know its frustrating seeing some spoiled tool drive off in a car they don't deserve but hey if you really want it get it but one thing i noticed most things just arent as good if you get them right away sometimes its better to wait and have more money for day to day ****

[zerioustt]

Originally Posted by italianblaze

i know its frustrating seeing some spoiled tool drive off in a car they don't deserve but hey if you really want it get it but one thing i noticed most things just arent as good if you get them right away sometimes its better to wait and have more money for day to day ****

why are they spoiled? is it because youre jealous?

if theyre parents have the ability to give their kids what they want why not?

[90Laser]

I never got why it was such a burden to have parents who are better off.

[zerioustt]

Originally Posted by 90Laser

I never got why it was such a burden to have parents who are better off.

thats what im saying, just because someones parents are better off makes them spoiled. lol


didnt jayz say jealousy is a female trait? ahahahhaha

[180sxDrifter]

Just be prepared to put in alot of extra hours at work if you want to pay the loan off asap so it doesn't hurt your credit too much. I got my audi tt twords the end of my senior year and I was working 30hrs a week while in highschool. Now I work 45-55hrs aweek to pay my car payment and dropping a decent amount of money into my gsx for my winter build. I'm hoping to have a decent amount of the car loan paid off by the time I start collage in september.

[den9]

the way i see it, dont buy a car that will take up more than half your check for 5 years, invest your money for a house.

i just bought a car 8 months ago and it takes up half my paycheck, for 4 years, its definetly nice having, just make sure you like it. im about to sell mine, wish i got something i liked more.

edit-if you want a loan id put atleast 25 percent down, and wait til your outta high school and work full time.

[Gorilla Unit 33]

ok one day me and my mom were talking and she had told me about a "formula" she was giving when she was my age for financial purposes and taking loans or making payments on things. Its simple and really quiet fair. If you make your insurance payment and car payment in a pay check for 2 weeks then the other 2 weeks in a month you have no payments at all for anything then thats what she would say your financially stable, because even if u miss a week cause your sick or possible death in the family you still have 3 more weeks in a month to make it up and still have a week pay check to keep yourself going on and pay for any late fees in the mean time.

Im not sure if that helps but it did for me and even til this day, being the owner of 3 cars since ive got my liscense, i have not made a car payment or needed to take a loan for anything. Not to mention ive always been quiet happy with my choices for cars at the time. Theres nothing wrong with having the car you have, if it gets you to where you need to go and back. Sometimes if money is a problem you just got to face the fact that you cant afford "modding" a car or buying a faster one. In the mean time help yourself by looking for a better paying job or something thats going to make your life a little easier at buying the car that you want even if means not needing to take a loan and putting yourself in debt.

[dragonfly2k3]

i agree that they are spoiled. I just dont see it as being a car that is necessary to have or even for that matter safe if he is a beginner driver. Anyways. I am nearly 19, a freshman in college and own 2 cars, and since i got my liscense ive owned 4 others. I had one car payment but i payed it off with the sale of another car. Anyways, Id say dont take a loan. You can buy a nice car that is moderately quick with the sale of your esi and some extra cash.(a tsi for example, or h22 prelude/swapped civ/possibilities are endless)

[den9]

whats wrong with the talon anyway? if you are buying a project car i wouldnt take out a loan either, why pay monthly for something that will sit in your driveway broke, and you have to have full coverage.

[ITSTOCK]

I wish I could even consider getting a loan when I was in high school. Insurance was killing me on my 91 mustang, let alone a car payment AND insurance on a newer car!

Live with other kids having nicer things. Someone will ALWAYS have nicer and things, and someone will ALWAYS think that YOU have nicer things. Just be happy with what you have, and save as much money as you can. Don't get caught in the trap and get a loan, especially that young. Compounding interest is your friend, and if you start saving now, you will be better off years down the road! EDIT: If your parents can't help you with car payments, they probably can't help with that home that you are going to want in a couple of years either!