I finally have the payment plan set up with the dealer, and currently saving up for a 2k down payment... but no one will loan me the $16,100....

I'm 17, so I can't go to a bank, and I can't just have someone cosign because I need to have had a job for a year.... It's stupid. I can afford the car payments, gas, insurance, everything....

Mom won't do it, dad's in Iraq, and grandparents are greedy as hell... Oh well. Bad luck, eh?

Off topic: Does the 2004 stock stereo support subwoofers?

 

i was in the same situation as you. but i was 18. ended up having my mom sign for it with my dad and myself co-sign.

yes you can put subs in the stock stereo.. goodluck, i only got 12k

 

It's so stupid. I'm graduating a year early(end of my junior year) because I excell in school. I want this car really bad, and I've thought of everything, and they know it. They just don't want to because they don't want to, that's it.

 

Get a job, save up more money, establish a little credit and come back in a year or so. There will be plenty of 8's around and the deals for them will just get better and better. No one will finance you because they all know the truth: You cant afford an RX-8 by yourself.

Grandparents greedy as hell?? Why? Cuz they wont give YOU any $ or cosign for a car you cant afford. What a little punk.

Get ready for some rx8club tuff love...

 

I work 2 jobs.

I can't just **** credit the second I turn 18.


I can afford one, but the banks won't let me have my chance because I'm only 17.

Because I've known them my whole life. They are greedy, just like that whole side of the family.

Wrong. I just need the loan to establish the payments I can afford. It doesn't take more than 2 brain cells to realize the fact that no place will loan to me, legally or illegally.

Wrong again.

Actually, you're pretty quick to assume, and you made an *** of yourself quite fast.

 

my advice: save up for a while and pay with cash...car payments suck.

 

Yeah, that was my original plan, but you only live life once... And if I can afford it, why not?

 

that was alittle harsh and prolly un true jones..... they wont loan him even when he does turn 18 for 1 simple reason. he is a HI risk factor.

weather you can afford it or not, they dont trust you =\ i am sorry, i was in the same boat as you man, could afford this car with less then half of my income to use on car payment, insurance, gas etc.....

took me a while to get a loan, and i ended up getting a sub-prime 15% loan, i am re financing in may on my own hopefully

 

i dont think they suck... i think saving up for a year or 2 to pay in cash while you drive some POS or lame car is worse... instead of saving he could just get the car... then subtract the car payment from the amount he would be savings every month and put it towards the principle. that way he has it paid off very very fast.

best of both worlds.

 

If your still working on 2k for a downpayment, you cant afford it. Trust me kid, there are unforeseen things that can/will happen that will derail ur little plan and when then do, who's gonna bail you out?? Thats why no one will co-sign.

Harsh? yea but im not doin it to be dick, like i said, i love this kid Tuff love ya'll...

 

I know It does suck bro.

But good news: My best friend got inheritance from his grandpa(20 grand), and I might be able to convince him to loan for me for 6% APR. Wish me luck.

These are my exact thoughts! It would take me roughly 2 years to get the money for it(I make around $1k a month), and I would rather have my 8 during those 2 years, then driving my shitty car. It seems way worth paying the extra money for.

Not everyone gets a few grand a month. I get roughly 1k a month, so it will take me a bit to get it. And I'm currently aware of the what-if's, and I'm taking necessary precautions to avoid them. I can't live my life based on what-if's brah.

 

Yes, but that may be his only option if nobody cosigns for the loan. Plus you will have a lot more satisfaction knowing that you paid for this car all on your own. Don't have to worry about interest rates, don't have to worry about making next car payment, don't have to worry about how much value car has gone down compared to your payoff. You can ease a lot of headaches.

 

hmm... 6% is to low for a personal loan from a friend who could just blow it.... offer him 12. i think it is more fair, and more likely he will say yes... although i think he will still say no haha

 

Haha, nah, he's a really good and true friend. I've been eyeing(sp?) this car for around 2 years, so he knows how bad I want it. I'm not relying on him 100%, because if he says no, then he says no, I'm not gonna bug/beg him. But yeah.

 

well... if i were you, and im similar. only spend like 13. i originally wanted to spend 17ish but i am glad i didn't MUCH less to pay off for an un-noticable diff.

 

What has changed since THIS post? Your comment about the ' greedy grandparents " is somewhat disturbing. Do you know what is going on in the the economy? Its easier for you to make more money going forward than them. You being upset that they don't want to help a 17 year old get a sports car is really immature. Make enough money to pay cash or build up you credit to get a loan in your name.

 

Nope, I haven't asked them to loan for the car. I just know them, and trust me, you might think I'm a dick, but when you meet them, you'll understand. And looks like I'm gonna have a few months to save up anyways.

Gonna go to sleep and think about it. Night brah's.

 

<---this guy. had 2k saved, gave to parents to make down payment, they signed. i now owe them 550 a month

they're nice and don't make me pay for insurance every now and then.

advice, convince mom. your best shot.

 

So just what in the heck do your grandparents have to do with your car purchase? You say you haven't asked them for a loan, yet you also say they are greedy. Perhaps they are, but how does that prevent you from buying a car? Have they been stealing from you?

-1.3L

 

just save up more money and wait. im 17 and i saved up and payed cash to buy my 8.

 

$1000 a month probably isn't enough to pay for a $16k loan, insurance and gas. Especially when you're 17 and insurance is through the roof. It may look like you can on paper, but let me tell you...things come up. Just a heads up.

 

Save up...
Buy a honda...
Save up...
Establish credit...
Save up...
Buy a used 8 for cheap...

I'm 24 and my wife is 23. I make low 6 figures a year and she makes around the mid-high 30's. We have never had a co-signer and it has taken us this long to establish credit. With a big enough down payment and a good credit union/bank you can make it happen.

Key word LARGE DOWNPAYMENT!

Your gonna have to drive beaters for awhile kid. Just don't tie all of your money up in them.

 

your only 17 which means you have NO credit. why would someone loan you money?

Also you do realize the risk of cosigning for someone elses car right? you miss one payment and there goes there nice credit score that they have worked on for so many years. Its not even close to worth it. I wouldnt do it either. I know how you feel, trust me I was in the exact same boat. Just save up more to put down. The lower the loan amount, the easier it is to get approved (also you need to be atleast 18

 

if you excel at school, why aren't you saving "all that money you're making" for college? rather than only making $1K/month all your life, how about going to college so you can make more when you get out? plus it will help you ride out this tough economy and you can work while you're there and establish some credit.

college isn't for everyone - i get it. but for someone touting they are so good at school, why have you not chosen that route?

 

if you can afford it right now, then start putting your car payments into savings. Do that for an entire year. having "$2k down" might seem like a lot but it isn't. Can't get / establish credit? i call bs here. sorry but it's not that hard to get a card. you can. You might have to deal with higher interest rates, but if, as you have claimed, you can afford an RX8, then you should no trouble paying off the debt you accrue on your card(s).

So you can't have the car right now. No worries. Best advice is to not do as you have done with this thread... start a tantrum for not getting your way. Look at the long term gains. Save for now. You can afford to. you've already stated that fact. In a year, you will be able to get a better / newer car. You're 17. your life will not change between now and a year from now.