I know there are lot of posts about this subject and I did a "search" and read some of them (Search system kinda sucks). I'm really looking forward to get a S2000 but I wanna ask some questions especially to the younger owners.

As you can see in my SN that I want one really badly and I'll do anything to get one so spare me the "I'm too young, or spoiled, or I shouldn't be driving an s2k" story. I would just like more info and how to obtain the best in my situation. I did the calculation on maintenance, tires, gas, etc, I can afford it.

I'm 20 years old and I'm about to graduate in the spring (Getting an AS Degree). I want to get a s2000 before I graduate because my insurance would be cheaper because of the "good student discount". It's a whole lot cheaper then if I went to buy it after I graduate and I wanna use that to my advantage.

For you younger owners/first car buyers what can I expect?
1. I want to get the auto loan myself (no cosigners,etc)
2. My credit score is above 740
3. I live at home so I don't have no bills, no rent, nothing to pay other then my food/gas
4. I have a beater car so I don't have to worry about it being my DD or the winter.
5. I'll do auto loan shopping but I don't want that many inquires on my CR yet.
6. I have no debt (no CC, student loans, nothing)
7. I want to put down no more the 3k on the loan
8. I don't want to spend no more then 22-24k on the loan including 3k down
9. I live in Nor*Cal area so anyone from there chime in please.

1b. What kind of interest rate can I expect for a first time buyer?
2b. What kind of interest rates did you younger owners get?
3b. Will I be able to get an interest rate under 9%?
4b. Is it better to go private party or dealership?
5b. Would I be able to finance private party auto loans?
6b. Is there anything else I should be looking at?

I'm trying to see what my options are and I'm trying to get the best rates/loans that they offer. Thanks hope to be an owner soon.

 

Your insurance situation doesn't seem to make sense. Your good student discount should drop off once you graduate regardless of when you bought the car. Good luck. I'm 20 also and I'm loving every second of ownership. Interest rates can vary greatly depending on the person and the company you get the loan from. You're probably just going to need to shop around for a good interest rate.

 

Lets put it this way

It would cost $800 for 6 months with "good student discount" and thats 50/100/50

Without it it would cost me $1000 for 6 months.

The way I see it if I get the s2k now I can use that discount and before I graduate I renew the 6 months at $800 and I won't have to pay the extra $34 month for 4 months after I graduate.

So I save myself over $200 on insurance after I graduate from college. Does that make sense?

 

I'm 21, just graduated and have my car financed through my local bank at 5.99%

Don't expect a rate that low, but you should be able to keep it under 9% even with your age and lack of credit history.