This pertains to the "17 year olds getting Z's" debate...
11-25-2009, 12:29 PM
#5084
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its under my PARENTS name ... obv I can't get a loan for a new car at 18. I pay $200 a month, they pay the other $155.22 a month. I don't pay for gas, insurance or really anything. Call me spoiled, whatever.
11-25-2009, 01:21 PM
#5086
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I respect your honesty. Almost everyone has had some help along the way. Its the kids that lie about it and try to take credit for what their parent are doing that bothers me.
11-25-2009, 01:26 PM
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11-25-2009, 01:42 PM
#5090
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Not busting your chops, just dropping a little credit knowledge on you.
11-25-2009, 01:52 PM
#5091
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So do you intend on spending every extra penny you get on mods or helping your parents pay down the loan? Think about what happens if you get tired of this car in 2 years and want to trade it in and can't because your parents still owe more than the trade in value.
11-25-2009, 01:53 PM
#5092
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It actually hurts your parents as well. If they ever need credit again then your car payment will be added to their debt. So depending on their debt and income, your payment could actually put their debt load at a level so high that they are not able to qualify for another loan.
Not busting your chops, just dropping a little credit knowledge on you.
Not busting your chops, just dropping a little credit knowledge on you.
not bragging just stating it out.
11-25-2009, 01:56 PM
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Last edited by SE5spd; 11-25-2009 at 01:58 PM.
11-25-2009, 02:50 PM
#5096
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oh well I did not know that. They have enough money too buy the car in cash if they wanted too (they bought all there other cars right out) they just think its good for me too be making payments. They are thinking of just paying the bank off and having me pay them monthly payments but the interest rates are still low enough (0.8 I think) that we don't have too pay THAT much more.
not bragging just stating it out.
not bragging just stating it out.
11-25-2009, 03:30 PM
#5097
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oh well I did not know that. They have enough money too buy the car in cash if they wanted too (they bought all there other cars right out) they just think its good for me too be making payments. They are thinking of just paying the bank off and having me pay them monthly payments but the interest rates are still low enough (0.8 I think) that we don't have too pay THAT much more.
not bragging just stating it out.
not bragging just stating it out.
