I don't know? lol Well I checked and I think it was like 50 bucks more than I was paying for my rsx-s. AND MY MOMMY GONNA PAY MY INSURANCE! YES! HOW NICE!

 

If your mom has to pay the insurance on this car then you probably aren't responsible enough and/or too young to be buying it. JMO.

 

Thats just a plain scrary thread....

Few months old job+ inssurance paid by mommy+ under 20 years old+ expensive car+ gaz and tire of a performance car+ fairly new driver

For some reason..... I also doubt you have a clean driving "record".....


If you really want one, why dont you check the used ones? cheaper and less depreciation. If personaly for you everything "screw up" in a few months, you will be able to sell it with minimal lost.

 

i work in credit all day every day for 8 years now and it all depends on debit to income ratio and your beacon score also if your freind has a 645 beacon that is pretty good someone should pick this up but i think that you might have a chance of getting approved if you have 15k in collateral in your bank you can put this up and as collateral and most any bank will give you the loan due to if you default they will recoupe 15k and the car is worth 30k the age thing is something they do look at. a 18yr old driving a 32-34k car, but with 15k you should be golden

 

ask your cousin, he will help you get it approved. easy

 

im 19, parents pay my insurance, and i make the monthly payments and i made the down payment..there is nothing wrong with having a nice car at a young age as long as you EARN it.

 

So... did you earn it?

 

did you forget to notice how i mentioned how it is paid for?

 

MAYBE IT'S NOT REALLY MEANT TO BE. BE PATIENT and it will all come!!!

 

Well the only reason my mom is paying for my insurance if thats a problem is because she was with state farm insurance and she was paying about 500 bucks a month on insurance with just two of her cars and my sisters car. Since i'm an insurance agent I actually got my mom to switch to progressive and added on my rsx-s with full coverage and total per month with 4 cars came out to about 350 a month! So it's as if she's not paying for me at all but in reality she is and still saving money...get it? But yeah I know I can afford the car without having such a tight budget since and yeah my current job trust me this is probably what I'm going to be doing for a very long time. Also my cousin which I live with and owns the offices has an audi s4, 350z, porshe turbo and is also thinking of purchasing the new is350 so..... but yeah I'm going to call my bank today and see if they'll approve me.

 

Realize that you're only 18 trying to get a loan for a 40k car. Yea your sister and 27 yo friend got denied. Yea they have car loans themselves. Oh wait...can that be a problem? They have loans taken out under their name already right? Calculating the amount each of them make and how much their loans are, maybe, just maybe, the financial institution realized that if you can't make the payments, how can this person make payments when they owe money. A FICO score of 645 isn't great, especially for someone the age of 27. That typically means: A) They never established anykind of credit or B) They went thru some financial hardships which hurt their FICO score really bad.

My advice...ask your parents to co-sign. I'm trying to figure out why they haven't helped you out at this point. I'm guessing cuz they don't want you to be spending 40k on a car. What you can also do is pull out a student loan and say it's for college but in actuality, you'll put it towards the purchase of a car. The last thing you can do it close the accounts, use the 15k towards a down and hopefully a bank will give you a loan at a rate of 8-12% apr.

 

I for one think your doing pretty well with the job for an 18 year old. However, this is not anywhere near enough money to think about buying a G35. The standard as I explained in another post is that you shouldn't own depreciating assets that total more than 50% of your yearly income. So if you make ~28K then you shouldn't own a car worth more than 14K. That isn't to say your going to have to eat dogfood if you own a 20K car, but you won't be able to save and you'll have to make choices you normally wouldn't if you dedicate so much of your income to cars.

You mentioned that you have 15K in savings. I'd keep 5k-7k handy in cash for emergencies and put the rest on whatever car you end up getting. Savings/CDs make horrible interest rates so you'll be making more money by not paying the extra high interest rates on the car loan. Also, as others have said, don't do the co-sign thing.

The fact that you've save 15K as young as you are is a good job. Don't sink all that work into a depreciating asset but instead invest it and buy a beater.

 

Well yeah parents don't have any good credit either! lol yeah it sucks but yeah.....Okay the way I'm looking at it is I want to LEASE so you can/can't really say i'm paying 40k for the car. I'll actually be paying anywhere from 20/25k since it's going to be a 3yr lease 15k miles so..... CLEAN DRIVING RECORD AND I DO UNDERSTAND THE THINGS THAT CAN HAPPEN IN A RWD CAR (DROVE A MUSTANG GT FOR A WHILE, AND ALSO A 240SX).....SO YEAH DO REGULAR BANK SUCH AS WELLS FARGO, BANK OF AMERICA, WAMU, ECT.... GIVE OUT LOANS FOR A LEASE??? And about the 15k being in the bank for the for security to the bank shouldn't that help tons and am I guaranteed to get the lease?? thanx

 

When i bought my G last year it was a smooth and a took out 33K loan after putting down 5K, now when I was finishing my Lease paper work 27 month Lease (Hyundai Tucson) for winter driving, the bank gave me more problem. The Finance guy said that my credit is perfect but they tend to be more strict on Lease and my insurance for my Tucson is more higher than my G..... MY Tucson is just about half the price of my G and it cost me more to insure..gggrr just a thought for you.

 

Actually you will be taken out an loan/lease for entire sales price of the car, and yes WellsFargo, Chase, BofA do have lease programes, do a bit of search on the net you will find more lending company who offers leasing programs, Usually the dealership will work with you to get you approved but that doesnt mean you will be getting the rate that you deserves(reads higher rate)...GOOD LUCK.