Hi guys, I've been lurking around the s2ki forums for a very long time building up the knowledge I can possibly get about the car because I plan on picking up a s2000 ever since I moved out here in Syracuse. I never owned a car before only use to sharing cars, now Im looking to finally get my dream car. I dont have credit but my uncle said he would Co sign for me. I just want to know what are the benefits, cons and advantages between lease and loan. So should I get a loan or lease it?

 

loan. you're paying for it and its going towards you owning the car. you'll definitely wanna keep it once you own one.

 

Loan, but don't go too big or too long. Can't tell you how many times I see people trying to sell the car just to pay for what is left on the loan. That is not a situation you want to get yourself into. Ideally, pay in cash for everything except for your house since usually keeping money in investments makes more than the price of a mortgage.

Still, however, a lease is really worthless, since your money goes nowhere. You have nothing to show for it.

With a loan, if you actually end up paying it off, you just have a car that you ended up paying a bit more in the end for...but you still have a car at least.

 

Loan it is then. My budget for a S is around 14k, Im saving up 3k for a down payment and rest on a loan.

 

Buy one off here, you can at least know a bit on the history of the car. Search prior posts from the seller to see if they had any issues and whatnot. I prefer to get a car from a forum if possible. 14k will get you a nice s2k!

 

Yeah I been mainly looking at S2k's on the forum, cars.com, and autotrader, but would love to get the car on the forum. So I just turn 20, no credit at all because I dont have a credit card at the moment. My uncle said he would co-sign for me, so I would like to know how does the whole co-sign work, like I know I need to get a loan for the car, so since he's co-signing for me, does he get the loan for me?