Am I able to get an S2k?
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Joined: Apr 2006
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From: Pleasant Grove, UT
i would say check the prices on insurance and go get approved for the loan, if it looks like you can do it, then do it, if not then wait a year or two and get it then. Good luck man.
-Ian
-Ian
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Joined: Nov 2006
Posts: 251
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From: Poughkeepsie, NY
i think you are putting yourself in a tough position if you get an S. your going to be paying around 300 a month on the car payment, pluss 300 a month for ins. then you have gas/tires/oil/mods @ 100-200 a month so thats 700-800 a month on a car. you said you make 22K a year, so thats about 1800 a month (and im not sure of that is pre or post tax, so it might be even less). so your looking at sending 45% of your income on a car, which is not a very sound position to be in
with all that being said, i know how you feel. the thing you have going for you is that you will have a nice sized down payment with the selling of your car, so you wont be backwards on the loan like so many young people are. take your time and hunt for the best rate, which i think is still going to be pretty high given your $/age situation.
good luck with what ever you decide to do.
with all that being said, i know how you feel. the thing you have going for you is that you will have a nice sized down payment with the selling of your car, so you wont be backwards on the loan like so many young people are. take your time and hunt for the best rate, which i think is still going to be pretty high given your $/age situation.
good luck with what ever you decide to do.
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Joined: Mar 2007
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Originally Posted by afwfjustin' date='Mar 24 2007, 11:47 PM
To betterTH, dude, go to your bank. Credit companies are not going to finance you unless you're 40+ years old and have a job where you're making 6 figures.
Go to your bank - banks work FOR YOU! If they won't give you a loan, tell them you're leaving and going to another bank to do your savings/checking and that will change their tune quickly.
I had a hard time finding a loan for my S (I only needed like 10k) and I finally went to my bank. The bank manager was cool as crap and he got my loan approved within 30 minutes. Seriously - dress nicely, show some type of proof of your income (if you make cash and don't claim anything like me for tax purposes, bring bank statements of all of your deposits), and act maturely. They want your money; they make interest off of you. Give it a try
Go to your bank - banks work FOR YOU! If they won't give you a loan, tell them you're leaving and going to another bank to do your savings/checking and that will change their tune quickly.
I had a hard time finding a loan for my S (I only needed like 10k) and I finally went to my bank. The bank manager was cool as crap and he got my loan approved within 30 minutes. Seriously - dress nicely, show some type of proof of your income (if you make cash and don't claim anything like me for tax purposes, bring bank statements of all of your deposits), and act maturely. They want your money; they make interest off of you. Give it a try
I'm tempted to go to a suntrust and say "If you can give me this loan, I can give you my accounts and all my future business".
I may do that today.
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Joined: Mar 2005
Posts: 5,423
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From: Seattle, WA
Originally Posted by betterth' date='Mar 25 2007, 08:38 AM
I did, I am a bank of america person, but Bank of American doesn't offer auto loans through their branches, you have to call their number or go online.
I'm tempted to go to a suntrust and say "If you can give me this loan, I can give you my accounts and all my future business".
I may do that today.
I'm tempted to go to a suntrust and say "If you can give me this loan, I can give you my accounts and all my future business".
I may do that today.
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Joined: Mar 2007
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yah def look at insurance prices, im only 21 and I am paying monthly a lil more for insurance than the car payment. it sucks really bad but its the how bad do you want to be in that drivers seat!? and depending on if you want to start building your own credit or have a lower interest rate would depend on if ya wanted a co-signer.
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Joined: Oct 2002
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From: Shreveport, La
I know insurance is expensive but I'm guessing it has gone up since I have broken the young age barrier. I was only paying around $150 / month for full coverage when I was 21. As a matter of fact I was saving $10 / month from what I was paying on my Explorer because it was a roll over risk. Now that I am 26 I can reap the rewards of a lower rate.