Think I can get a decent loan?
02-23-2009, 01:36 PM
#41
wow... where do I start? You are obviously making assumptions that you have absolutely no information about.
1. "They are saying right now is where the millionaires of the future will be made...talk to someone who knows something about investments and invest that money. "
LOL I got the biggest kick out of this one... I have a degree in ACTUARIAL SCIENCE, go look that up and get back to me about what that is. In fact, nevermind I will save you the effort, its using years of college education about financial math, interest rates, and risk analysis to manage BILLIONS of dollars of investments in the insurance business. And to top it off, I am currently getting my Master's in Applied Financial Mathematics, to make myself even further qualified for upper level treasury/financial officer/cheif financial officer positions to handle investment decisions at insurance companies, investment firms, consultation firms, lending institutions, ect. So I am not sure who you want to be pointing fingers at about not knowing my way around investments and decision making... And btw, many actuaries who attain FSA status become those millionaires of the future you talk about...
2. "Also I just noticed you are buying this for 14-15k? So what year is this Z?? I am going to guess its a used and out of warranty which is another MAJOR reason that buying this car is NOT a good idea...."
I purchased my 2003 Z for $13,100 out the door for 14.4, it had 50k miles on it, all services records were perfect, car was immaculate, made a deal and a half and drove it home. I also bought the extended warranty to protect it for 3 yrs/36,000 for $1500, which is NOTHING for 3 years, the same thing the OP can do. He will be protected bumper to bumper, every little nook and cranny, door handle, anything.
3. Why are you so firm and set on telling him he cannot get what he wants, what he works hard for? Is it really that big of a deal? If anything happens, you think he cannot just turn around and sell it? A car is one of the most liquid assets you can buy... As long as he keeps it maintained properly and doesn't rack up cross country mile trips on it, he will not get hit very hard with the depreciation which would be the only thing to worry about. He has told you he has ranked his priorities, this lying very high, he does not spend his money elsewhere, or even want to. It will be less than a third of his DISPOSABLE income... of which he is not even spending! R-E-L-A-X Worst case scenario he realizes that it wasn't the best decision for him or it wasn't worth the money or it isn't working out and he sells it and buys a cheap honda and hes done with it. By the way, I have realized none of the above, it is a fantastic car to drive, an even better feeling being in the drivers seat, and a decision I absolutely do not regret. Why wait so long to feel so good? You live life only once... Make yourself smile. I do, everytime I walk up to my car, every time I drive down the road, every time I park somewhere and get out, every time that wonderful exhaust note rings in my ear.
Enjoy it.
1. "They are saying right now is where the millionaires of the future will be made...talk to someone who knows something about investments and invest that money. "
LOL I got the biggest kick out of this one... I have a degree in ACTUARIAL SCIENCE, go look that up and get back to me about what that is. In fact, nevermind I will save you the effort, its using years of college education about financial math, interest rates, and risk analysis to manage BILLIONS of dollars of investments in the insurance business. And to top it off, I am currently getting my Master's in Applied Financial Mathematics, to make myself even further qualified for upper level treasury/financial officer/cheif financial officer positions to handle investment decisions at insurance companies, investment firms, consultation firms, lending institutions, ect. So I am not sure who you want to be pointing fingers at about not knowing my way around investments and decision making... And btw, many actuaries who attain FSA status become those millionaires of the future you talk about...
2. "Also I just noticed you are buying this for 14-15k? So what year is this Z?? I am going to guess its a used and out of warranty which is another MAJOR reason that buying this car is NOT a good idea...."
I purchased my 2003 Z for $13,100 out the door for 14.4, it had 50k miles on it, all services records were perfect, car was immaculate, made a deal and a half and drove it home. I also bought the extended warranty to protect it for 3 yrs/36,000 for $1500, which is NOTHING for 3 years, the same thing the OP can do. He will be protected bumper to bumper, every little nook and cranny, door handle, anything.
3. Why are you so firm and set on telling him he cannot get what he wants, what he works hard for? Is it really that big of a deal? If anything happens, you think he cannot just turn around and sell it? A car is one of the most liquid assets you can buy... As long as he keeps it maintained properly and doesn't rack up cross country mile trips on it, he will not get hit very hard with the depreciation which would be the only thing to worry about. He has told you he has ranked his priorities, this lying very high, he does not spend his money elsewhere, or even want to. It will be less than a third of his DISPOSABLE income... of which he is not even spending! R-E-L-A-X Worst case scenario he realizes that it wasn't the best decision for him or it wasn't worth the money or it isn't working out and he sells it and buys a cheap honda and hes done with it. By the way, I have realized none of the above, it is a fantastic car to drive, an even better feeling being in the drivers seat, and a decision I absolutely do not regret. Why wait so long to feel so good? You live life only once... Make yourself smile. I do, everytime I walk up to my car, every time I drive down the road, every time I park somewhere and get out, every time that wonderful exhaust note rings in my ear.
Enjoy it.It is clear what you don't know could fill a warehouse...
it is about a lot more than making yourself smile. I would look at it like opportunity cost. Buying the car now, he is giving up a lot more than 10-15K. It is the wrong time for him to be buying a car based on what he has stated
Good luck with that extended warranty
edit:
knils, do you have a full time job, or are you a full time student working part time while you are in school?
02-25-2009, 08:05 AM
#44
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You'll get a loan fine, you will just need a co-signer. On another note, apply for a line fo credit, that is what I did and ended up getting 20K @ %5. Then I had whatever I needed to buy the car.
About the car putting a smile on your face. My cars aren't just to get me from point A to B. They're my hobby and although I should have waited and bought the car out right, I wanted to live while I live so I bought it with credit... I can always turn around and sell it when my priorities change.
About the car putting a smile on your face. My cars aren't just to get me from point A to B. They're my hobby and although I should have waited and bought the car out right, I wanted to live while I live so I bought it with credit... I can always turn around and sell it when my priorities change.
02-25-2009, 09:36 AM
#45
I deduced that he was speaking to me because I was the primary one in support of the OP and fit several of the qualities in his description of the "type" that he should not be listening to. It doesn't take much mental effort..
I am not going to get into a pissing contest with any of you, regardless of whatever you think I do or do not know, and what I have and have not experienced. The point is that I know more about finance and risk analysis and the decision making that goes along with it than you will ever wrap your mind around, and for you to assume otherwise is ignorant. It is not just a simple four years spent studying interest rates, and to belittle it as such shows even further that you are a moron and have no idea about what it is that my studies actually entail. And I am curious as to what you handle in the "real world", what task you call an occupation do you grace everyday that makes you so qualified to make judgments about others and their "educated-butts"?
There is a reason "my types" are paid accordingly for the knowledge and the skills they possess, try and pass any of the slew of qualification exams and you may very well figure that out. But as of right now I could not care less how impressed or not you are with my education level. And for you to also assume that it is "my types" that have caused this economical mess you must be a complete idiot and have no real understanding besides what you and your buddies at work throw back and forth at lunch.
I am not going to get into a pissing contest with any of you, regardless of whatever you think I do or do not know, and what I have and have not experienced. The point is that I know more about finance and risk analysis and the decision making that goes along with it than you will ever wrap your mind around, and for you to assume otherwise is ignorant. It is not just a simple four years spent studying interest rates, and to belittle it as such shows even further that you are a moron and have no idea about what it is that my studies actually entail. And I am curious as to what you handle in the "real world", what task you call an occupation do you grace everyday that makes you so qualified to make judgments about others and their "educated-butts"?
There is a reason "my types" are paid accordingly for the knowledge and the skills they possess, try and pass any of the slew of qualification exams and you may very well figure that out. But as of right now I could not care less how impressed or not you are with my education level. And for you to also assume that it is "my types" that have caused this economical mess you must be a complete idiot and have no real understanding besides what you and your buddies at work throw back and forth at lunch.
Last edited by knils; 02-25-2009 at 11:34 AM.
02-25-2009, 10:52 AM
#46
It doesn't much mental effort
hahah
you try way too hard to prove yourself here. it's the internets, relax.
Like I called a long time ago - it's apparent the guy has already made his decision up. you can better spend your time trying to pass your life lessons on to your kids, not some random forum poster.
he who wants a z shall get a z, let them figure out the how to, what it will effect, the outcome and how to do it better next time, etc.
hahah
you try way too hard to prove yourself here. it's the internets, relax.Like I called a long time ago - it's apparent the guy has already made his decision up. you can better spend your time trying to pass your life lessons on to your kids, not some random forum poster.
he who wants a z shall get a z, let them figure out the how to, what it will effect, the outcome and how to do it better next time, etc.
02-25-2009, 09:40 PM
#50
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im in the same position what should i do??? lol naw jk
but you guys made a lot of great points and i agree with both sides, kinda like what was said before, this is the internet. . .lets chillax a bit
to the OP, whats your status?
but you guys made a lot of great points and i agree with both sides, kinda like what was said before, this is the internet. . .lets chillax a bit
to the OP, whats your status?
02-26-2009, 04:12 PM
#51
Registered User
all these posts and not a single ref to a bank / credit union?
i'm actually interested in getting a loan. so if you guys know if any good rates, let me know. i can get 8.9% from my bank for 72 months, but want to do better if i can
i'm actually interested in getting a loan. so if you guys know if any good rates, let me know. i can get 8.9% from my bank for 72 months, but want to do better if i can
02-27-2009, 05:12 AM
#53
I deduced that he was speaking to me because I was the primary one in support of the OP and fit several of the qualities in his description of the "type" that he should not be listening to. It doesn't take much mental effort..
I am not going to get into a pissing contest with any of you, regardless of whatever you think I do or do not know, and what I have and have not experienced. The point is that I know more about finance and risk analysis and the decision making that goes along with it than you will ever wrap your mind around, and for you to assume otherwise is ignorant. It is not just a simple four years spent studying interest rates, and to belittle it as such shows even further that you are a moron and have no idea about what it is that my studies actually entail. And I am curious as to what you handle in the "real world", what task you call an occupation do you grace everyday that makes you so qualified to make judgments about others and their "educated-butts"?
There is a reason "my types" are paid accordingly for the knowledge and the skills they possess, try and pass any of the slew of qualification exams and you may very well figure that out. But as of right now I could not care less how impressed or not you are with my education level. And for you to also assume that it is "my types" that have caused this economical mess you must be a complete idiot and have no real understanding besides what you and your buddies at work throw back and forth at lunch.
I am not going to get into a pissing contest with any of you, regardless of whatever you think I do or do not know, and what I have and have not experienced. The point is that I know more about finance and risk analysis and the decision making that goes along with it than you will ever wrap your mind around, and for you to assume otherwise is ignorant. It is not just a simple four years spent studying interest rates, and to belittle it as such shows even further that you are a moron and have no idea about what it is that my studies actually entail. And I am curious as to what you handle in the "real world", what task you call an occupation do you grace everyday that makes you so qualified to make judgments about others and their "educated-butts"?
There is a reason "my types" are paid accordingly for the knowledge and the skills they possess, try and pass any of the slew of qualification exams and you may very well figure that out. But as of right now I could not care less how impressed or not you are with my education level. And for you to also assume that it is "my types" that have caused this economical mess you must be a complete idiot and have no real understanding besides what you and your buddies at work throw back and forth at lunch.
02-27-2009, 08:11 AM
#55
Registered User
02-27-2009, 10:18 AM
#56
New Member
I deduced that he was speaking to me because I was the primary one in support of the OP and fit several of the qualities in his description of the "type" that he should not be listening to. It doesn't take much mental effort..
I am not going to get into a pissing contest with any of you, regardless of whatever you think I do or do not know, and what I have and have not experienced. The point is that I know more about finance and risk analysis and the decision making that goes along with it than you will ever wrap your mind around, and for you to assume otherwise is ignorant. It is not just a simple four years spent studying interest rates, and to belittle it as such shows even further that you are a moron and have no idea about what it is that my studies actually entail. And I am curious as to what you handle in the "real world", what task you call an occupation do you grace everyday that makes you so qualified to make judgments about others and their "educated-butts"?
There is a reason "my types" are paid accordingly for the knowledge and the skills they possess, try and pass any of the slew of qualification exams and you may very well figure that out. But as of right now I could not care less how impressed or not you are with my education level. And for you to also assume that it is "my types" that have caused this economical mess you must be a complete idiot and have no real understanding besides what you and your buddies at work throw back and forth at lunch.
I am not going to get into a pissing contest with any of you, regardless of whatever you think I do or do not know, and what I have and have not experienced. The point is that I know more about finance and risk analysis and the decision making that goes along with it than you will ever wrap your mind around, and for you to assume otherwise is ignorant. It is not just a simple four years spent studying interest rates, and to belittle it as such shows even further that you are a moron and have no idea about what it is that my studies actually entail. And I am curious as to what you handle in the "real world", what task you call an occupation do you grace everyday that makes you so qualified to make judgments about others and their "educated-butts"?
There is a reason "my types" are paid accordingly for the knowledge and the skills they possess, try and pass any of the slew of qualification exams and you may very well figure that out. But as of right now I could not care less how impressed or not you are with my education level. And for you to also assume that it is "my types" that have caused this economical mess you must be a complete idiot and have no real understanding besides what you and your buddies at work throw back and forth at lunch.
You act as if I am suppose to be impressed with your EDUCATION...well if you must know I too am working towards ONE of my advanced degrees. As to what I do I handle contracts for a handful of major weapons systems for our government and the defense industry. That is my real job, now...not what a textbook is telling me I can potentially be in the future. Again, what company do you work for as others have asked so we can avoid your financial genius of going broke to buy a car......and if you cannot draw lines and connect that part of the reason we are in the financial crisis we are in is due to that type of thinking....well your professor or "slew of exams" must not have covered that topic yet 
02-27-2009, 10:47 AM
#57
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$7500 loan will be easy to take out on a $15,000 car. Look at Chase.com for their auto loans. Right now they are right near the top in terms of getting people financed and low interest rates. They just got bailed out from the government and have a lot of money to lend.
02-27-2009, 11:49 AM
#59
You act as if I am suppose to be impressed with your EDUCATION...well if you must know I too am working towards ONE of my advanced degrees. As to what I do I handle contracts for a handful of major weapons systems for our government and the defense industry. That is my real job, now...not what a textbook is telling me I can potentially be in the future. Again, what company do you work for as others have asked so we can avoid your financial genius of going broke to buy a car......and if you cannot draw lines and connect that part of the reason we are in the financial crisis we are in is due to that type of thinking....well your professor or "slew of exams" must not have covered that topic yet