COJ_General

iTrader: (10)

I was hoping to give myself a nice gift this holiday season in the form of the 350Z. Now the one problem is getting the money to finance it. I make enough money to do so, yet being only 19 I don't have enough established credit so I don't believe I'll get approved. I was just wondering if anyone had any suggestions for me on how I would get approved or which bank or financing agency I should used that I could get appoved. Thanks

daytona350zr

Most dealerships will get you approved even if you don't have credit, the only question is do you want to pay HIGH interest rates? I would suggest getting someone that has credit to co-sign with you that way you can take advantage of a lower rate and build credit.

JFritz

Your 19 and want to spend $30K? I'm 26, make decent scratch and still find myself a little stretched with car payments, insurance, and gas.

If anything look at a used 03.

arvin

iTrader: (2)

Consider a used 03. NO dealership will turn you down!!!!!!!!

zurn

Some friendly advice from someone who has seen both sides of the coin.

If you’ve got a sizeable down payment and good job you will be able to walk in and negotiate with some strength. If you don’t have the down payment yet (about a quarter of the total price +), how’s about buying something small for the holiday season, like the service manual, and start saving for a down payment. It shouldn’t take that long if you’re making enough to buy the car, and it will make the buying experience much less painful and owning much more fun.

You probably will be able to find someone to finance the car whether you can actually afford it or not. But if you go in with a minimal down payment and credit history, they’re going to jerk you around a lot more, particularly if you go with dealer credit.

Probably not what a 19 year old wants to hear, a mistake at this age could really hurt.

In any case, when you are ready to buy, check out the credit and lending situation very carefully. NBC did a Dateline on someone buying a car for the first time a couple weeks ago. You’ll probably be able to find it on their web site. Safest thing for someone your age is to go with credit union financing.

Slib77

Join a credit union. They usually have good rates and will pre-approve you for a certain amount.

The Brickyard Rat

iTrader: (1)

Do NOT (thats N-O-T) go to a dealership & let them get you qualified for a loan. It sounds like your young & relatively inexperienced. Car dealers love guys like you. It is the equivelant of sending Christians to the lion's den. You will pay to much for the car & get a worse interest rate.

Go to local banks, credit unions, or S & Ls and see what you can do on your own. Or get a co-signer & go to local lenders.

The proper sequence on buying a car is:

-Arrange your own loan.

-Do your homework on precisely what car & options you want and the cost. (Consumer Reports & MSN auto page will give you invoice & retail cost)

-Go to dealer(s) with above in hand. Do not allow dealer to add one dime in extras or dealer packs.

Good luck.

kbomb

iTrader: (12)

Go to Motortrend.com and they have a section to search for best rates around ur area. I did. Found a credit union around me and got 3.9%. First car, 1 cc and no other credit/debt.....

I was soooo frustrated about not being able to get a car w/o parent's name until i found this one. Now i sleep easier knowing i have my Z.

johnp69

I might sell u mine!

tiesto81

When I was 18, I got my honda civic si and I was in the same boat as yourself. the best thing to do is to try to establish credit any way you can, and wait off a bit, OR purchase a used car that may be a bit cheaper and require less of a loan.

I'm not sure if i'll get approved for credit when the time comes for me to get the Z (probably in a year's time). I should be near 23 by that time but I think I have good credit history thanks to financing my current car with a co-signer (my dad), a couple credit cards, and financing other things.

It comes down to your previous credit history - how are you with payments on everything pretty much? -- credit cards, bills, car payments, appliances etc.

How old are you, and how much do you make? (I'm not asking you these, rather, these are questions that will be asked when credit gets approved at some places). At least thats the experience I have.

Regardless, I am pretty confident if you have a good credit history with experience and make the income, you should be good to go, but definitely take the advice others are suggesting as well - good tips

MyZ4U2C

I got a used 2003 Touring Model, 6 speed with Aero package, Orange Leather etc with 4k miles on it a few months ago for $30,000...came with a 75,000 bumper to bumper warranty. Good finance rate as well...my payments are $544 a month...insurance is $80.17 per month.

supra crazy

iTrader: (22)

Get an Evo there faster!!!!!!!




















Ah one less Z in Florida

evo

i'm 19 also and currently shopping for my Z. but i would suggest you not to go into debt this early in our age. maybe you should settle with a car that cost less for now and start saving...

personally. i have 20k of my own. and i will borrow the rest from my parents at no interest and have 2 years to pay them back. i'm paying cash for my car (yes, i have nice parents i admit) i started working/saving since i was 14 (at that time, it was for the s2000) trust me, if you really put your mind to it, you can do it. debt sucks, especially at our age.

put the car under your parents name. it might make things easier for you, for insurance as well

or go with a 03 like the other members said.