tobyluvr2000

iTrader: (1)

Why hello there, nice first post.

<----sits back and waits for everyone else to rip him a new one...

superchargedg

iTrader: (4)

So do you in mommys paid for car.

BornSlippyZ

iTrader: (1)

Motec exhaust system?

JEKL

iTrader: (24)

For someone with such a really good job I detect a hint of desperation in your for sale ad for that bike you mentioned. Just how good is this job of yours?

marhot

+ 1

marhot

Let me see if I understand this. You joined the forum in JANUARY 2009 and don't post this, your first masterpiece, until today??

There are some slow kids here, but you are the slowest, son. And change your name, Speedy, you ain't.

1GR8350Z

iTrader: (1)

So whats the deal with the Z06 and the BMW in YOUR garage. Did you just post pics of your parent's cars? Stagered Tenzos, wow!

RocketCoffin

Don't know how taking out a loan for a car at 20 is laughable exactly. Helps me build better credit, the payments aren't hard to make at $206 a month. Do explain Marhot.

1GR8350Z

iTrader: (1)

I know you didn't address me with this, but I don't think anyone has said getting a loan in itself is laughable. What is laughable is when these kids come on here claiming to have saved up a $20,000 down payment from their summer job in high school. What's laughable is when they say they got the loan by themselves at 18 with a gr8 interest rate.

Nothing wrong with getting a loan, but if you are going to come to this thread bragging, then don't get butthurt when we start to peel the layers back.

JEKL

iTrader: (24)

I laughed at you too so I can help answer. You got a 5 year loan on a 7 year old car. Your car loan could out live the life of your car. I would be surprised if a real bank would even go that long on such an old car.

sbZenth

iTrader: (23)

a) i am 19, and i bought my Z when i was 17.
b) i agree with what you said. Most of the younger guys that come on here try to make up stuff about their loans, payments, when/how they got the Z etc...
c) buying my Z when i was 17 was the worst decision i have ever made (financially). Im always broke because im making payments on my car.
d) i still drive a 350Z and i love it more than anything else. So was it worth it? hell yeah. good financial decision? hell no. lol

1GR8350Z

iTrader: (1)

I know at the Credit Union I am a member of they will go back 7 years on an auto loan and anything older is a personal loan.

This is a very good point. What happens when you are 2 years into the loan and something happens and you can no longer afford to make the payments?
You owe more than you can sell the car for. You end up losing the car and have your credit screwed.

FineWine

iTrader: (10)

^ This.

/Thread

TougeS2K

A wise man always told me that if you can't afford to buy something cash you can't afford that item.

sbZenth

iTrader: (23)

A man doesn't have to be that wise to come up with that statement. I could have told you that when I was five.

There's more to personal economics than just balancing your check book. Using credit and loans efficiently and planning properly allows you to do much more with your money. Obviously, this makes siht hit the fan when something happens that you do not plan for.

what I ACTUALLY HATE about kids driving expensive cars... They usually do not understand the concept of safety and care. Most of them drive like ***** on the street. My "friends" (kids who were into cars the same time when i was in high school) all drive like morons. More so than financial decisions and being spoiled, i think the recklessness of teens with expensive, fast cars is a problem. Also, they usually do not give a **** about their cars since they usually do not pay for / have no appreciation of the vehicle.

TougeS2K

I didn't say he was wise because he made that statement but for other reason how he is a self made millionaire that's never borrowed one cent from the bank. But you are right about one thing, certain kids don't need any car with more than 150hp or this might happen http://www.autoblog.com/2008/01/26/f...es-off-runway/ .

Spork

iTrader: (6)

Where you at on Okinawa?

TougeS2K

Everywhere I am just trying to get off this ****en rock. This place sucks monkey *****.

marhot

Exactly, thanks JEKL.

Kid, you are sooo upside down on this car and you will always be. It's just not a smart deal. Two or 3 years from now when you want to trade it in on another car you'll see what I'm taking about.


PS: Just curious, where did you get the loan from?
In these economic times, it’s just unimaginable a bank or credit union would be writing a 60 month loan on a 7 year old car.

1GR8350Z

iTrader: (1)

Exactly, you pretty much have to live by KBB or whatever your bank uses. Look at it like this. Lets say that your friend has say, a 93 Supra TT and is willing to trade straight up for your Z and you really want to do it. Guess what, you can't, because the loan value on a 93 Supra will not be nowhere near enough to cover what you owe. Plus with the age, it would not be an auto loan and would have a higher interest rate. Modifications don't mean shat, btw.

I use this as an example because I had this same offer in front of me when I was paying on my S2K a few years ago. I was pissed, but I was upside down because I blew my wad and made a idiot decision and missed out on a car that to this day I wish I could have gotten.