This pertains to the "17 year olds getting Z's" debate...
I'm 24, I'm married, I'm an attorney. I represent major insurers, primarily auto, in a niche area of insurance law involving big dollar cases. I won't post my salary, but its plenty.
I had to have my dad co-sign my loan on the Z I bought a couple weeks ago.
Does that mean I shouldn't have bought it?
btw, I have absolutely no negative credit history, and my credit union gave me their best rate, just over 3%. But they wouldn't give me a loan solely in my own name because I had not previously had a car loan or a mortgage.
I had to have my dad co-sign my loan on the Z I bought a couple weeks ago.
Does that mean I shouldn't have bought it?
btw, I have absolutely no negative credit history, and my credit union gave me their best rate, just over 3%. But they wouldn't give me a loan solely in my own name because I had not previously had a car loan or a mortgage.
Last edited by Hexxus; Apr 9, 2009 at 01:13 PM.
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From: Florida
You are right of course, my situation isn't typical. My debt to income ratio may or may not be high, I am not sure what a typical ratio is, but my debt is significant in absolute terms because of college and law school. More importantly, I think my credit union only issues nearly risk-free loans in order to keep their rates so low. Based on the way Obama is spending (not criticizing, just saying) I think the odds of my 3.19% loan beating inflation over the next 5 years and the bank essentially paying me to buy the car are relatively high.
My situation is atypical, but I think my point is valid, which is essentially that people need to start somewhere with credit. A young person who, for example, has just graduated from high school and gotten a job, rather than going to college, may be able to afford a used Z at 17 or 18, although he may need his parents to help him get the loan. In that situation, is spending the extra money to buy a Z rather than a more economical car the wisest choice? I wouldn't think so. It's certainly not how I prioritized my own life. But it is certainly possible, and I wouldn't hate on people for it.
The larger point to me is that hate towards teens who are given nice, and sometimes dangerous, things by their parents seems a bit misplaced. I know I wouldn't have turned down a nice sports car at 17 if it fell in my lap, and I suspect few 17 year olds would. The real failure is with the parents who think it is a good decision. Where it seems like the anger is really coming from is just normal envy, along the lines of "Why did this kid get this nice thing so easily and I had to work so hard?" But that will always happen, and sometimes its with things alot nicer than a Z, like millions of dollars and a family corporation or something.
My situation is atypical, but I think my point is valid, which is essentially that people need to start somewhere with credit. A young person who, for example, has just graduated from high school and gotten a job, rather than going to college, may be able to afford a used Z at 17 or 18, although he may need his parents to help him get the loan. In that situation, is spending the extra money to buy a Z rather than a more economical car the wisest choice? I wouldn't think so. It's certainly not how I prioritized my own life. But it is certainly possible, and I wouldn't hate on people for it.
The larger point to me is that hate towards teens who are given nice, and sometimes dangerous, things by their parents seems a bit misplaced. I know I wouldn't have turned down a nice sports car at 17 if it fell in my lap, and I suspect few 17 year olds would. The real failure is with the parents who think it is a good decision. Where it seems like the anger is really coming from is just normal envy, along the lines of "Why did this kid get this nice thing so easily and I had to work so hard?" But that will always happen, and sometimes its with things alot nicer than a Z, like millions of dollars and a family corporation or something.
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Joined: Apr 2003
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From: The Kingdom of Kansas
You are right of course, my situation isn't typical. My debt to income ratio may or may not be high, I am not sure what a typical ratio is, but my debt is significant in absolute terms because of college and law school. More importantly, I think my credit union only issues nearly risk-free loans in order to keep their rates so low. Based on the way Obama is spending (not criticizing, just saying) I think the odds of my 3.19% loan beating inflation over the next 5 years and the bank essentially paying me to buy the car are relatively high.
My situation is atypical, but I think my point is valid, which is essentially that people need to start somewhere with credit. A young person who, for example, has just graduated from high school and gotten a job, rather than going to college, may be able to afford a used Z at 17 or 18, although he may need his parents to help him get the loan. In that situation, is spending the extra money to buy a Z rather than a more economical car the wisest choice? I wouldn't think so. It's certainly not how I prioritized my own life. But it is certainly possible, and I wouldn't hate on people for it.
The larger point to me is that hate towards teens who are given nice, and sometimes dangerous, things by their parents seems a bit misplaced. I know I wouldn't have turned down a nice sports car at 17 if it fell in my lap, and I suspect few 17 year olds [sic] would. The real failure is with the parents who think it is a good decision. Where it seems like the anger is really coming from is just normal envy, along the lines of "Why did this kid get this nice thing so easily and I had to work so hard?" But that will always happen, and sometimes its [sic] with things alot [sic] nicer than a Z, like millions of dollars and a family corporation or something.
My situation is atypical, but I think my point is valid, which is essentially that people need to start somewhere with credit. A young person who, for example, has just graduated from high school and gotten a job, rather than going to college, may be able to afford a used Z at 17 or 18, although he may need his parents to help him get the loan. In that situation, is spending the extra money to buy a Z rather than a more economical car the wisest choice? I wouldn't think so. It's certainly not how I prioritized my own life. But it is certainly possible, and I wouldn't hate on people for it.
The larger point to me is that hate towards teens who are given nice, and sometimes dangerous, things by their parents seems a bit misplaced. I know I wouldn't have turned down a nice sports car at 17 if it fell in my lap, and I suspect few 17 year olds [sic] would. The real failure is with the parents who think it is a good decision. Where it seems like the anger is really coming from is just normal envy, along the lines of "Why did this kid get this nice thing so easily and I had to work so hard?" But that will always happen, and sometimes its [sic] with things alot [sic] nicer than a Z, like millions of dollars and a family corporation or something.
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From: michigan
It's all about responsibility... The parents are irresponsible in that they hand their undeserving child a sports car. What makes this child deserving of it? If he/she is responsible enough to understand the idea of buying the car themselves when they can comfortably afford it.
Taking out the trash, getting decent grades, and participating in school sports do not make a child "responsible."
Taking out the trash, getting decent grades, and participating in school sports do not make a child "responsible."
Last edited by 8cd03gro; Apr 9, 2009 at 02:21 PM.
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From: michigan
The point is, these kids are NOT buying the cars on their own. Mommy and Daddy have to be co-signing. No way in hell are they getting loans on their own at 17 or 18 for the amount for a 350Z. Coming in here and lying to us is a big part of the problem. Also, we've been 17 and 18 and we know how kids drive. Myself being a firefighter, there is NO ****ing way I'd be letting a 17 or 18 year old behind the wheel of a 350Z, given what I've seen what they've done with Mommy's van wrapped around a tree or Daddy's Ford Ranger off an embankment.
http://www.post-gazette.com/pg/09066/953912-455.stm
There is the most recent fatal we've done. Three teens killed because they took Mom's Dodge Intrepid 110mph around a turn, over an embankment, and into a river. Shows a whole lot of a lack of responsibility. That's why there shouldn't be 17 and 18 year olds owning G35's and 350Z's. We see constantly what kids do with your common everyday vehicle. I sit at my shop and watch stupid kids, 16-20 years old in Civics, Integras, and Neons fly by like out of control morons everyday, doing 60-80mph through a residential neighborhood, and I just shake my head because these kids want Evo's and 350Z's. Who knows who they are going to hurt or kill next if they get their hands on one.
http://www.post-gazette.com/pg/09066/953912-455.stm
There is the most recent fatal we've done. Three teens killed because they took Mom's Dodge Intrepid 110mph around a turn, over an embankment, and into a river. Shows a whole lot of a lack of responsibility. That's why there shouldn't be 17 and 18 year olds owning G35's and 350Z's. We see constantly what kids do with your common everyday vehicle. I sit at my shop and watch stupid kids, 16-20 years old in Civics, Integras, and Neons fly by like out of control morons everyday, doing 60-80mph through a residential neighborhood, and I just shake my head because these kids want Evo's and 350Z's. Who knows who they are going to hurt or kill next if they get their hands on one.
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Joined: Mar 2009
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From: Chicago
what makes anyone deserving of anything? What if a 17 year old was handed the keys to a fox body and modified it to be an 11 second car with their own money? The car originally didn't cost much at all and wasn't all that much to handle. Handing an irresponsible driver ANY car is dumb. I had a safer record and drove less aggressive in my mustang than almost all of my friends and they were all driving denali's and hummers and ****. What would you rather haave on the road, an irresponsible driver in a 6,000 lb suv or a responsible driver in a little sporty car? Obviously most of the older generation isn't "deserving" of half of the products they own, hence the credit crisis in the USA. If family A spending 25k on a car for their son/daughter has the same impact on their financial situation as family B spending 2,500 on theirs and family A has a more responsible, intelligent driver, imo it's perfectly fine. The money belongs to the parent and they can do whatever they want with it. It's none of your business and if the driver is safe and experienced they are safer in that car than most other drivers on the road.
Well said. My point exactly. Give an idiot a moped and you will still have an idiot. No difference.
what makes anyone deserving of anything? What if a 17 year old was handed the keys to a fox body and modified it to be an 11 second car with their own money? The car originally didn't cost much at all and wasn't all that much to handle. Handing an irresponsible driver ANY car is dumb. I had a safer record and drove less aggressive in my mustang than almost all of my friends and they were all driving denali's and hummers and ****. What would you rather haave on the road, an irresponsible driver in a 6,000 lb suv or a responsible driver in a little sporty car? Obviously most of the older generation isn't "deserving" of half of the products they own, hence the credit crisis in the USA. If family A spending 25k on a car for their son/daughter has the same impact on their financial situation as family B spending 2,500 on theirs and family A has a more responsible, intelligent driver, imo it's perfectly fine. The money belongs to the parent and they can do whatever they want with it. It's none of your business and if the driver is safe and experienced they are safer in that car than most other drivers on the road.
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From: Charleston / Raleigh
The point is, these kids are NOT buying the cars on their own. Mommy and Daddy have to be co-signing. No way in hell are they getting loans on their own at 17 or 18 for the amount for a 350Z. Coming in here and lying to us is a big part of the problem. Also, we've been 17 and 18 and we know how kids drive. Myself being a firefighter, there is NO ****ing way I'd be letting a 17 or 18 year old behind the wheel of a 350Z, given what I've seen what they've done with Mommy's van wrapped around a tree or Daddy's Ford Ranger off an embankment.
never destroyed one, never ran raced more than a spirited acceleration contest from a stoplight with a civic or god almighty RSX type S, and never did anything really dumb in it. responsible kids are also out there! im older now and have 'upgraded' my car to something significantly more powerful and faster, again with my own money, this time with a car loan though, and continue my good decisions without killing myself in it, though as you can see in my sig, im going to be selling it cause i want another Z
i miss it!
Last edited by mikemjohnson; Apr 9, 2009 at 03:45 PM.
No. Click on my profile to see my age.
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From: fort myers fl
I got my car exactly a week ago and love it. I turn 18 today.
ive owned:
1997 Ford Explorer 5.0 V8
1994 Honda Accord EX Coupe (lowered , HID's ,exhaust..etc)
1995 Jeep Grand Cherokee 5.2 V8 4x4 (lifted 3" on 31's)
and i sold my jeep and my jetski , and came up with about 5k. and my parents put in the rest of the money , as part of a birthday/graduation gift.
not gonna lie , they helped me get the car i always wanted
and driving the lifted jeep got me in the habit of driving slow ...hopefully the Z doesnt change that.lol
ive owned:
1997 Ford Explorer 5.0 V8
1994 Honda Accord EX Coupe (lowered , HID's ,exhaust..etc)
1995 Jeep Grand Cherokee 5.2 V8 4x4 (lifted 3" on 31's)
and i sold my jeep and my jetski , and came up with about 5k. and my parents put in the rest of the money , as part of a birthday/graduation gift.
not gonna lie , they helped me get the car i always wanted
and driving the lifted jeep got me in the habit of driving slow ...hopefully the Z doesnt change that.lol
i bought two 350Zs straight cash when I was 18. Paid for the cars myself, insurance myself, repairs, not a dime of help. one of them with a lot of money invested into. I lived at home when I bought them but moved out and continued to own one after moving out, sold the second one cause it was automatic ftl. all legal money, nothing fishy, no help. there are exceptions. i made good business and investment decisions (also on my own with no help) as a 17 year old kid that paid off tenfold. not trying to sell myself, just saying thats not true that no one that young can own one. and i do have plenty of credit on this forum under my vendor account from work (one of the reasons for the financial success, im in a good sales job).
never destroyed one, never ran raced more than a spirited acceleration contest from a stoplight with a civic or god almighty RSX type S, and never did anything really dumb in it. responsible kids are also out there! im older now and have 'upgraded' my car to something significantly more powerful and faster, again with my own money, this time with a car loan though, and continue my good decisions without killing myself in it, though as you can see in my sig, im going to be selling it cause i want another Z i miss it!
never destroyed one, never ran raced more than a spirited acceleration contest from a stoplight with a civic or god almighty RSX type S, and never did anything really dumb in it. responsible kids are also out there! im older now and have 'upgraded' my car to something significantly more powerful and faster, again with my own money, this time with a car loan though, and continue my good decisions without killing myself in it, though as you can see in my sig, im going to be selling it cause i want another Z
i miss it!
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Joined: Oct 2008
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From: Indiana
i bought two 350Zs straight cash when I was 18. Paid for the cars myself, insurance myself, repairs, not a dime of help. one of them with a lot of money invested into. I lived at home when I bought them but moved out and continued to own one after moving out, sold the second one cause it was automatic ftl. all legal money, nothing fishy, no help. there are exceptions. i made good business and investment decisions (also on my own with no help) as a 17 year old kid that paid off tenfold. not trying to sell myself, just saying thats not true that no one that young can own one. and i do have plenty of credit on this forum under my vendor account from work (one of the reasons for the financial success, im in a good sales job).
never destroyed one, never ran raced more than a spirited acceleration contest from a stoplight with a civic or god almighty RSX type S, and never did anything really dumb in it. responsible kids are also out there! im older now and have 'upgraded' my car to something significantly more powerful and faster, again with my own money, this time with a car loan though, and continue my good decisions without killing myself in it, though as you can see in my sig, im going to be selling it cause i want another Z i miss it!
never destroyed one, never ran raced more than a spirited acceleration contest from a stoplight with a civic or god almighty RSX type S, and never did anything really dumb in it. responsible kids are also out there! im older now and have 'upgraded' my car to something significantly more powerful and faster, again with my own money, this time with a car loan though, and continue my good decisions without killing myself in it, though as you can see in my sig, im going to be selling it cause i want another Z
i miss it!