Finance

[SiZcO]

Well, i start my new job and i will have it perm... and well i sold my 91 honda accord about 4 months back. and actually using my roommate car as a car right now which sucks. so im only 21 and with my honda accord for liability on insurance they wanted atleast 200 bucks a month for liability that is super high. because with the same car in alabama i only payed 50. so i gotta see if i can afford all this and plus still have money to live on. but im wondering how hard it will be to finance a car. i wasn't gonna get a new one. a Mitu Eclipse has been my dream car ive always wanted one. i was thinking of gettin like a 1999 Eclipse.. i figured payment would be about 200-250 a month mayb. then insurance.. i know its consider a sports car kinda. but what my question is.. i didn't know if there was anyone here around my age that financed a car and how hard it would be to... because i remeber at 18 every place wouldnt accept no credit or they wanted to put me in a car for 500 bucks a month lol. Any input would be awesome thanks

 

[Jorsoft]

You should be fine getting it financed but you're likely gonna get a high rate, plus, with nearly all financed or leased cars, you'll have to carry full coverage insurance. It adds up to a lot of money to pay each month.

 

[ricanflow]

Honestly, i would look for a cheap beater (Oldsmobile or Lincoln) and save up the money in a credit union. You never know what can happen.....a sudden loss of income = no car again, id rather buy it cash and know that its mine, and no one can take it back from me.

 

[Trotter]

Dude, 21 + sports car = sky high premiums. Been there, done that.

While a sports car may be your dream, let that dream wait until you have some money in the bank. Find something older and uglier that is decent on gas for now, and then use that as a trade-in for the dream later. You have to crawl before you walk, much less run.

 

[taintedplay]

haha you think its bad? im here in texas, at 16, new license. The premiums are sooo high, a sportscar would be impossible to pay for. Its 3k a year for just liability for me

 

[Jorsoft]

Get a commuter car, insurance is really low in a Toyota/Honda/Geo, you get good mileage, and the parts are cheap if something breaks.

 

[ricanflow]

toyota does make sports cars too......hint (supra).

 

[Poizen22]

look at soem nissans, there relatively cheap on insurance aswell. i can ge ta nissan 240sx with 250hp and a turbo and rear weel drive for 225$ a mont that is considerably cheap as im 18, and thats a high performence car, if i got a neon or cavalier id be neer 300$ odly enought

 

[hercules_upw]

Honda Accords = high theft rate. I think they're #1 or #2 on the stolen car list. I just looked it up on state farm's web site. The 91 accord IS #1...

here it is

look for something with a good safety rating and low incidents of theft. The eclipse probably won't fit in this catagory.

At 25 your ins should drop off a bit. Drive a piece of **** for now, save $, put a nice down payment on a sports car then.

Even better, date a girl who has a sports car already and let her worry about it!

 

[CntdwnToExtn]

just find a small pickup - ranger, dakota - they are the best for young males on insurance - at least around here.
i'm 24 and only paying 200 bucks (cdn) a month for a red 04 dakota with full collision - it should drop a lot in the next few years as well.
sports cars @ 21 you'll be paying out your arse for insurance.
when i was 16-18 just as a "occasional driver" for me to use my dad's mustang was an extra 800 bucks a year.