aeromage

Ok, now that im off my brothers account I can post.
By the way he can't help me either with the problem below

I want to buy an FD but no one will help me finance it. Im 21 and have no bills exsept my Creditcard and Phone bill. My ******* parents fucked thier credit so I can't get them to cosign on a loan for one.. How does someone who has 2500 saved up buy an FD.

I have a job making 25k a year steady and no one seems to want to even take that in account on a loan they just look at my credit and say you don't have enough credit..

I do have two problems on my Credit 1 was when I was in school a missed 1 student loan payment and the other my damn library ******* sent me to a collection agency for 20 dollars on a damn late fee but never sent me any notices. only reason I knew this is cause I did a credit report and called them to find out what the **** was up.

Well I figured I would give that info. reason I don't have more money saved is I paid my Student loans off in full, bought a new computer system and seem to spend money cause I don't have any damn loans or anything to force me to conserv my money =( I hate money seem to burn out of my pocket. Hence another reason why I want an FD so it forces me to stop spending on little bs.

Ok, can anyone help me figure how to get ~13k to buy an FD.
I want to figure out how to get it before the end of summer.

Mahjik

iTrader: (1)

Check this thread:

https://www.rx7club.com/forum/showth...hreadid=199420

dubulup

Wrong car if that's your goal.

aeromage

Nah, its not the wrong car I just seem to blow through money cause I got nothing else to spend it on =( Id prefer to have an FD so I save for **** for the car instead of buying worthless shiat. When I had My studen loans and what not I saved cause I knew I had to pay it now its paid off I don't got anything realy to spend it on.

BMike

Honestly, I'd agree with the its the wrong car sentiment. You don't make enough money either I don't think personally. I make 40k a year and I wish I had more to throw at the thing. FDs due to age are nearly impossible to finance for more than 3 years, which means your looking at a 300-400 dollar a month car payment. Insurance is also sky high for someone as young as you. I have perfect credit, make 40k a year, and am 24 y/o and I think my ownership of an FD is a bit stretched at times. If I was you I'd go find a decent honda civic or something to use as a daily driver, buy it on a loan <don't use your cash in the bank>. And use the loan to improve your credit, also pay back that library fine and get it changed to show that it was payed if you havent already. Then in a couple years you'll be in a much better position to buy somehting like an rx7.

paw140

40K per year not enough to own an FD? Please... I was making $16K per year as a grad student when I bought my FD about 1 1/2 years ago. I have found that if you aren't retarded with your money, it will go a long way. I've had no problems paying for the FD, and I've even had to replace the engine (being your own mechanic helps a lot).

Insurance is not expensive at all if your driving record is clean and your age is right. I pay about $90 per month for both of my cars and I'm 24.

dubulup

I pay alot more than $90/ month and I'm 24 (full coverage w/ $500 deduct.) clean record, 2 cars (SUV)??? I need to make a call...

BMike

Well, I should say that that includes my extreme pension for modifying the hell out of the car. Everything listed in my sig I've bought in the last 6 months since I got the car... also if you lived at home etc makes a big difference and obviously I don't know his situation, but I don't like to do things that would put me in a position where I didn't have money to pay for rent or whatever even if I did still live at home I wouldn't want to be stuck there for the duration of my loan. Also 90 a month is a goddamn steal, I pay more than that just for the rx7, not including my other 2 cars. I just think there are too many problems that could come up and cost an arm and a leg to risk spending a hefty chunk of cash just on the car. And how the hell did you get a car loan for an FD on 16k a year?

Mahjik

iTrader: (1)

Insurance rates vary GREATLY from state to state so don't bother comparing rates unless you live close to the person.

dubulup

You're right Atlanta would be a bit more expensive than Mississippi.

Atlanta has some of the fastest moving traffic I have ever seen...and when cops make the speed traps, guess who gets pulled over following traffic...

paw140

Actually, Mississippi is expensive from what I've heard, since like 30% of the people on the road don't have insurance. It was quite a bit more expensive down here than it was when I lived in PA. But I have no idea what it would be like in a big city.

I am really surprised that I only pay $90 per month for insurance on two cars (I have $1k deductible on the FD and liability on my daily beater). I've gotten several quotes from many different companies, and they are all WAY more expensive than what I have now (Geico).

As to how I got a loan for the FD only making 16K; I only paid $9700 for it, I put about about $3K down, I have awesome credit, and I'm a grad student.

dubulup

HIJACKED, hahaha!!!

This poor guy...

BMike

Ah, financing 6700 I can see how you got a loan
I paid 13k and with only a 3 year term available the payments were rediculous <421 a month and my rate was not sky high, 8.25% i think> but i refinanced with peoplefirst and got it down to 276 a month and a 4 year loan with lower interest.

911GT2

If you really want the car, which I won't discuss, get a personal loan, not a car loan. I'm 19, i got a $10k loan with no cosigner, I just got a personal loan, and used the car as collateral. Go to a smaller bank, bring ebay bids to prove that the car is worth a lot more than the loan is for, they should give you a loan.

aeromage

Well, you don't know jack **** then. Sorry but Im make more then enough to handle a 400+ dollar car payment my phone and other ****. Did I mention that I get insane discounted rates for full coverage through my work.
By the way you're a ******* moron telling me to get a god damn ******* Honda. I have a car right now that I drive I want a ******* FD. I owned an FC rx7 and had a blast with that its time for da FD and my brother has one so I know what to exspect.

Personal loan.. Well, you say you had no credit and no cosigner and got 10k, Well, please tell me what bank and whos **** did you suck to get that cause I've been to **** load of banks and on one will give me a personal loan and wont consider and FD as collateral.

BMike

Not that I just lived that phase of my life under nearly identical circumstances 3 years ago...Oh yeah, thats right, I did, I made about that much money when I was that age...But feel free to discount my personal experience as you wish, it's your life. And as for the rest, mellow out, shesh. It's advice, if you dont want it, dont take it, you dont have to tell me off left and right because you don't like it.

aeromage

Sorry for the bark I had a head ache when I posted that message.

fastcarfreak

work a lot of hours one week and save the pay stub, maybe you can convince the bank you make more money. It worked for me no questions asked, im 18 financed $8500 through a personal loan with the FD as collateral. I even told them that i made more money in tips then i actually did, being that i deliver pizza. As for the guy saying he makes 40k a year and cant afford his car, i make like 12k a year and i can afford my two cars, my two cars insurance, and modding my car and spending on misc. things! It has to do with being able to manage their cash.
Adam

BMike

Its more that I have other hobbies etc that arent exactly cheap so I guess if I just spent money on the car it'd be a different story too... Also I started wasting money on cars pretty young and didn't buy the other stuff earlier on so buying an FD would have meant not having squat else, lol. I suppose having an FD you probably don't need much else

littlecat

I suggest do a lot of 'bank' shopping - I believe they vary a lot in what they're willing to lend, though of course it depends on your financial status too - When I went to buy an FD, the bank I went through was willing to finance even more than the nada book value of the car(which I thought was kinda stupid on their part) for pretty much any loan term(at least up to five years) - not a bad deal and I don't have perfect credit either(good 'ol college days) though I do make more than 25K and I have a very 'secure' job. I would think if you can prove good employment history/salary you ought to be able to finance a FD for at least its nada book value, which means you may have to put down some money though. Also, try credit unions, if you can get into one - in my experience they've had better rates and more 'liberal' loan lending policies...

good luck
littlecat

edscholl

dude, you need to grow up.

a) you're cussin' folks out who are offering you good advice. b) you can't get a loan partly because *you* screwed up your credit, yet you're calling your parents @ssholes cause they have crappy credit and c) can't cosign your loan. you're 21, an adult, pull your own damn weight. d) $25k ain't jack ****, especially if you're trying to get a $13k loan. a rule of thumb is your auto's purchase price shouldn't be more than 1/3 of your gross yearly income, which you exeed by quite a bit. finally, e) if you're also paying student loans, there's a very good chance your montly debt obligations w/ the rx-7 would exceed the recommended 28% max debt load most lendors accept.

vudoodoodoo

Get a regular car and save up for a house or something.