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Lasty K
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4219 posts [100%]
714 CA
7-8-2006
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Ughhh, I would just not opt for the Si at all..
ex-dB Squad #265
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GoldCoin
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1701 posts [98%]
CA
8-15-2006
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| Quote, originally posted by Lasty K » | | Ughhh, I would just not opt for the Si at all.. |
whys that?
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Token Blk Guy
Honda-Tech's Financial Advisor
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1866 posts [101%]
Money and Investing Moderator, Sacramento Ca
4-26-2002
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| « Re: 1st Time car buyer-- need advice (GoldCoin) | « » 7:48 PM 7/4/2008 |
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Well man for 16.8% you do not--- I repeat do not need that car.... seriously man do you know how much more in interest you are going to be paying on that loan?? I can do the math for you and you will pretty much shoot yourself if you se how much. 488 a month for a civic please... pass man...
Here is what you need to do...1. check your credit score... http://www.annualcreditreport.com
2. once you figured out what your score is. do the following
3. check out your local bank or credit union, see if they have a first times auto buyers program. Some will and if they do I’m sure they will give you less than 16.8% I have seen average of 10% for people starting out. Once you build credit and steady payment history you can refi and get that loan apr back down to 6%
4. If you get qualified for say 15 K that is your limit, Until you build up credit and job history, you don’t get/need anything more than that...
5. Buy a used car. Buying new IMO is a waste let someone else take the depreciation hit. beside with little credit and trying to buy a new car that is going to be a tough one.
6. Never finance with dealerships unless they can beat your own private lending financing. Dealerships are shady and tack on fees and excess charges and I assume you are a young guys so they can smell you from a mile away and that why the sales guys was trying to rush you in the car and take that high interest hit.. Bottom line, no civic is worth 488 you should be paying 250 max for a car payment. Anything more than that you don’t need it.
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dazman696969
* B A N N E D *
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249 posts [95%]
haddonfield nj
5-17-2008
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| « Re: 1st Time car buyer-- need advice (Token Blk Guy) | « » 11:59 PM 7/4/2008 |
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16.8% wowshit i'll loan you the money for that interest rate
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Token Blk Guy
Honda-Tech's Financial Advisor
Offline
1866 posts [101%]
Money and Investing Moderator, Sacramento Ca
4-26-2002
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| « Re: 1st Time car buyer-- need advice (dazman696969) | « » 11:21 AM 7/5/2008 |
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Yeah thats just ass rappage right there, that dealer should be shot for wanting to give him that apr.
Transamerica Financial Advisors
Insurance, Investments, Retirement, Advisory Services
Ca Lic# 0G23657
http://www.sevafinancialadvisors.com
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Skelly
Offline
450 posts [100%]
Pittsburgh ps
7-10-2003
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Do you want a new car? Or do you need a new car?500/month for a civic? Fvck that.
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Lasty K
Offline
4219 posts [100%]
714 CA
7-8-2006
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Get a older used car for now, wait it out then proceed to get the Si.
ex-dB Squad #265
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GoLowDrew
No Title
Online
7143 posts [101%]
Xanadu
1-26-2000
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| « Re: 1st Time car buyer-- need advice (GoldCoin) | « » 11:30 AM 7/7/2008 |
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Lots of good replies and you got the main message -16.8% is the mob rate. It should be illegal for dealers to charge this.If it's a credit "risk" issue, simply don't approve the sale. I hate to hear dealers still do anything for a sale, right or wrong. A few points to add. Your profile said age 19. I rode the bus at age 19, and did not get my first brand new car until age 27. Consider alternatives. Most young guys are already f&^^%%^ themselves with debts that they can't get out of. Don't be one of them. With that said. 3K down is way too little for a 22K car. I would not even think about the car until you can put down 8K or more (for a 22K+ fees car). More $$$ down (plus more time) may help you have a better credit rating for a better rate. Civic will be mid-model refreshed in 2009. If you buy one today (08), your Civic will look "old" in a few months. Wait and save if you still want to get it.
Eddie would Go!
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GoldCoin
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1701 posts [98%]
CA
8-15-2006
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| « Re: 1st Time car buyer-- need advice (GoLowDrew) | « » 11:11 PM 7/7/2008 |
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i have another vehicle . but thats not a daily car. i went though my credit union to ask and the
apr they can give me is 6.9%
for any car no more then 3 years old
>100k milesrealized teh civic may not be for me. i do need another car. maybe just not a NEW NEW one. thanks all for advice and help 
Bought From or Sold to
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chads
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2621 posts [98%]
Oregon
11-29-2003
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| « Re: 1st Time car buyer-- need advice (GoldCoin) | « » 1:21 AM 7/12/2008 |
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| Quote, originally posted by GoldCoin » | i have another vehicle . but thats not a daily car. i went though my credit union to ask and the
apr they can give me is 6.9%
for any car no more then 3 years old
>100k milesrealized teh civic may not be for me. i do need another car. maybe just not a NEW NEW one. thanks all for advice and help |
glad to see you got a grip on reality. Now lets think about your "non daily car" do you really need it? consider selling it and buying maybe a 99 civic si with cash. best of both worlds now you can save that monthly payment and work towards real goals like buying a house or whatever you wish. 
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Lasty K
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4219 posts [100%]
714 CA
7-8-2006
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| « Re: 1st Time car buyer-- need advice (chads) | « » 1:40 AM 7/12/2008 |
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| Quote, originally posted by chads » | glad to see you got a grip on reality. Now lets think about your "non daily car" do you really need it? consider selling it and buying maybe a 99 civic si with cash. best of both worlds now you can save that monthly payment and work towards real goals like buying a house or whatever you wish. |
A 99 Si in the area that he states he lives in, no way lol.
ex-dB Squad #265
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Dased530
49ERS ALL THE WAY !!!!1
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894 posts [99%]
. NOR CAL .
6-7-2003
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You also need to factor in insurance, and get quotes from a couple of companies ahead of time..... at 19 Your insurance won't be nothing nice.............
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E36 Guy
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3421 posts [97%]
Burbank California
7-26-2003
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at 20K a year you shouldn't be considering buying a new car. come on now
Should be E46 Guy now  | Quote, originally posted by suckmypistons » | honda "scene" sucks because of stupid asian people. mexican guys are funny and ricey as hell and white guys are cool too but get ripped off by us.
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chads
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2621 posts [98%]
Oregon
11-29-2003
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| Quote, originally posted by E36 Guy » | | at 20K a year you shouldn't be considering buying a new car. come on now |
he is right, I know there is a general % of your monthly income that you should allow for transportation anyone know off hand?
buy my sick parts!!! special prize for bumpers!
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sanimalp
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2098 posts [100%]
fort collins colorado
2-21-2005
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man, i hate that "no more than 3 years old" crap..
Honda: making pizza delivery profitable since 1977I accelerate faster than gravity. PGMFI.org wiki mirror My EF Family
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