I'm basically asking this question for all the younger G owners but if you older guys have info..... as I'm curious to know what you basically need to finance a car under your name. I'm currently 17 going 18 in march. I work part time and make anywhere from 800 the least to 1000+ a month and I'm also still in high school. I basically want to get the car under my name without a co-signer due to my mom not having good credit, but if it comes down to it I will have to ask my grandma which has excellent credit. I've been employed at this job for almost a year and I'm trying to build my credit now so when time comes hopefully I can get car on my own. I have diamond earings under my name and a credit car so hopefully that helps. I'm also selling or going to trade in my 2002 acura rsx-s which I've had for about 1 1/2. I'm also considering leasing if that will make a difference and if I have a bigger chance in qualifying. I will have about 15k the car after I sell my rsx-s. thanx

 

There's a lot of factors....credit score...history....amount of trade in...etc...

I doubt you'd qualify...or you might get a really bad rate. You might want to consult and independent credit union.

 

Im 23, pretty young for owning this car, so i know where youre coming from.

Chances are, you will qualify for a loan or lease, however you will most likely get a real bad rate and youre probably better off financing with your bank or credit union than with a dealership. Even then your credit rating is probably still not even close to being good enough to get a good rate.

at your age, the insurance is probably going to be insane, I wouldnt be suprised if its between 2000-3000 bucks a year to insure this car if you have no points... if you have anything bad on your record, or if you hit something, your insurance will explode.

you are making enough money to barely be able to afford the car if you add in the cost of ownership and maintenence etc. I suggest you finance through your grandmother and borrow from your bank to get the best possible rate, otherwise you are going to get screwed over if its under your name only.

you better think everything through and dont let the prospect of owning this car blind you, many people have gotten burned and bought a car they cant afford and end up loosing a lot of money and their cars. So plan ahead and plan smartly. just remember owning a car cost a lot more than just the monthly payments. good luck.

 

https://g35driver.com/forums/g35-coupe-v35-2003-07/79062-letting-g-go.html

 

I called it... I got dibs on this guys car in about a year! Just messin' of course, but you need to take a deep breath and look at your situation. Remember, you are 17/18 yrs old, you make $12,000 a year before taxes and by the sound of your post, you aren't heading to a 4 yr university. So, if you want to make a rational decision, do yourself a favor and take a more realistic approach.

You'll soon graduate from high school and will have to find a secure job, then you'll realize you need to get a college degree because you wanna move up, and then you'll realize you can't really get a college education because you have to work like crazy to keep up on your payments and you can't afford it either. By then, you'll look to sell the G. However, you could be the next bill gates and you'll drop out of harvard and rule the world and you can afford to buy nissan. Sage advice from a 25 yr old, take it and run with it!

 

a new G will run you $35,000+, call it $40K after all the options, tag, title, tax, etc. after your $15K trade in, thats a $25K car. your car payments alone will be around $500 a month. now add in insurance, which as terryw pointed out is going to be absurdly high, gas, maintenance, car washes, mods, etc, and you are well over your monthly income of $800-$1000. there is no way you will be able to afford this car, even if you could qualify, which I doubt. sorry man. maybe you could find a used G for around $25K, that wouldnt be such a stretch, but your insurance will still be outrageous.

 

Did you financed that car on your own? or at least that your name is on the loan?, Only way to know for sure, is to get pre-approved first, either on-line sites like E-loan, lendingtree...or at your local bank...I'd suggest that you keep that type-S for lil while longer, you dont want a big monthly payment hanging over your head every freaking month, put some money into the Mods on S, if you havent done it already, it isnt bad car to start with I can only wish I have type-S back when I was 18

 

Who cares if your qualify; you can't afford it!!! An 02 RSX is a very sweet ride for your age. Invest on a 4 year college; don't deplete your very last cent a car.
You have two options, both requires waiting:
Graduate from high school then find a minimum wage job and pay for the G for the rest of your life
Graduate from high school then put your mind into college in lieu of daydreaming about cars until you get a good salary

 

Who cares if you're qualify; you can't afford it!!! An 02 RSX is a very sweet ride for your age. Invest on a 4 year college; don't deplete your very last cent a car.
You have two options, both requires waiting:
Graduate from high school then find a minimum wage job and pay for the G for the rest of your life
Graduate from high school then put your mind into college in lieu of daydreaming about cars until you get a good salary

 

Advice worth giving twice!

 

^ +1 (make it 3 times )

An acura is a sweet ride man, if I had that at 17 I would be happy.

You sound like a bright kid (worrying about credit and such), but just know that getting a $30k+ car is not the smartest thing you can do at your age (and with your income). Say, as a worse case scenario, you can work anymore and you default on your payments. All that hard work to build up your credit will be wasted.

Go to college, keeping driving the rsx for another 4 years and when you get a nice paying job getting a G will be no problem.

 

Here's a little allegory:

Beware the corporate jet

You know those high-flying CEOs who get free use of the corporate jet, even for personal reasons? We've all envied them. But maybe we ought to be doing something else -- like dumping their stock.

New York University professor David L. Yermack recently crunched numbers on 237 large companies. He found that companies that give their CEOs free personal jets perform worse on the stock market than those that don't. It is, he says, a "dramatic, almost shocking" link -- and seems to be driven by investors' disapproval of the perk. As the New York Times reports:

When companies start disclosing that they have extended this perquisite, he said, their shares drop 2 percent, on average. Then they underperform their market benchmarks by more than 4 percent a year, what he called "just an enormous gap."

Mr. Yermack likened the effect to what might happen when a high school student gets his first car and, intoxicated by the freedom it affords him, stops studying and falls off the honor roll.

So, jdmrsxs02, you might want to steer clear of the personal jet too. I know I am!!!

 

Just to support some of the other posters here.... do NOT buy this car in your current situation. I am 36 years old and have owned cars when I was younger that cost me most of my monthly income. DONT do it. Keep your current ride or get a ride that is going to cost you maybe 15-20% of your after tax income. Remember, a car is not an investment. If you really want to blow a grand a month, buy a condo or cheap house and rent it out. It will help your credit big time and in a few years, it will help you finance the car you really want.

As a rule, I don't pay more than 5% of my after tax income towards total vehicle payments, in hopes that by 45 I can buy and drive what ever I want while deciding if I want to work or not.... current goal: Renntech SL600...

Just my 2 bits which does not work for everyone.

 

If you get the G now, it will be the best ride you'll ever own during your lifetime. You'll probably loose it after a few months after realizing you can't afford it. Most of us on the forum aspire to greater things in life. If you do it right you will be able to own a G, Vette, Beamer, Mercedes, Ferrari, Lambo, or what ever else your heart desires.

FYI: I drove a 10 year old baby blue Honda Accord during college. I'm now 32 w/ a very well paying job, a beautiful wife, beautiful 15 month old daughter, a 2900 sq. ft. house w/12 feet ceiling through out, two beautiful cars, and parents who are so proud of me.

 

Yes!
also
I typed "your" in lieu of "you're".