Car Title Loan questions... (car insurance, tire, buy, driver)
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I'm well aware of always being told something I don't want to hear. However the comment about the "OP not falling far from the tree" made me upset. This thread was a simple inquiry question because I could not find the answers I wanted through my own research.
The fact that you said
Quote:
Originally Posted by twalk2013
Ok well I want to thank you all for making me feel like I am an imbecile.
suggests that your feelings extend beyond a reaction to a single post by a specific poster.
I'm well aware of always being told something I don't want to hear. However the comment about the "OP not falling far from the tree" made me upset. This thread was a simple inquiry question because I could not find the answers I wanted through my own research.
I gave you an option for financing, even though I said it was a bad idea.
I can understand the draw to have a hot sports car at a young age, I was the same way. However, for the few kids that do end up with one, it almost never ends well. For instance, you'll be required to get full coverage insurance, which will not be cheap. And, if you wreck the car, you'll have to pay the deductible, and then you'll be really surprised to find that the insurance company won't give you enough money to cover the loan, because the car isn't worth that much. So then you'll be carless, and working to pay off a car that you long since wrecked.
This thread was a simple inquiry question because I could not find the answers I wanted through my own research.
You mean, you couldn't find the answers you wanted through your own research. So, somehow, you ended up making an account on a relocation website.
Actually... how did you end up here to begin with? I just googled "auto finance question" and "can I afford this car", and city-data.com didn't show up ANYWHERE in the search results.
Is this another one of those "seed" posts that we always get when things are slow? They're out of control on this site. It's probably some guy named "Peggy" posting from Uzbekistan for a nickel per thread. Next try, "Interracial atheist lesbian couple with children moving to Pocatello, ID and looking for a diverse walkable neighborhood near Whole Foods and Nordstroms".
I think you would have gotten a better reception if you were considering a car more in keeping with where you are in your life. A 20 yr old corvette is just asking for trouble. You can buy a pretty decent 3 year old car with lowish miles (under 30k) for $12k.
I won't judge getting a loan, most people do, but if you are at least spend it wisely on something that will last and won't sink you with repair costs and insurance premiums.
You're 18 - have a job - but no one apparently would give you a loan - because you want to buy a 20 yr old car - which most likely you wont be able to insure either - which is not a problem in the long term, because going by your attitude, you'll probably wrap it around a tree in a few weeks of "ownership"
Like someone above stated, do you even know how much tires will cost?
Basic maintenance?
Can you even afford the oil changes?
Will it be practical enough for you?
I say buy a beater for $2k. I am actually hoping you already have one for your "job", and keep saving while you learn a bit more abt the following fe theings
- attributes of financing
- ownership of a pseudo sports car
- real world costs of owning a 20 yr old sports car
- the insurance for people in your age group. (trust me, you have a lot to learn)
Your 18, an adult, start acting like one and stop relying on or blaming your parents.
were not saying you can't afford it because you can't slap down the 12k. in cash for it.
So you have a job, who says you can make the payments with what you earn?
you?,
Take step back.
Do you have the down payment? yes- no?
What are your monthly expenses,(they will change when you move out of momy's & daddy's basement and years from now your expences will just go up.
None is not an exceptionable answer, your lender will ask.
What will the insurance cost for a 18ye old on a Corvette?
Remember it will be full coverage until the loan is payed off.
Sorry to say but you don't have your ducks in a row nor do you know what ducks should be in that row, but your learning fast.
a lot of folks have over 12k in the bank,
Quote:
Originally Posted by twalk2013
I can afford it, I have a job and am able to make the payments and maintenance. Do any of you just happen to have $12,000 lying around to get a car? If so, congrats, but like many others when buying a car - a loan is necessary. It's just that due to my parents being financially irresponsible in the past, prohibits them of helping me out in a lot of ways. My parents both have jobs and a steady income, it's just that lenders see "bankruptcy" on their credit history and don't want any part of it. People go through bankruptcy for all sorts of reasons, my parents had a rough financial time from after 9/11 to 2010.
Last edited by snofarmer; 04-17-2013 at 12:32 PM..
Hello..
Newly registered user with a quick question regarding car title loans.
My parents do not have good credit (bankruptcy a few years back)
I am looking to get a 1995 corvette, the car is selling for $11,999. However, we cannot get a car loan for a car older than 2005. We also cannot get a personal loan even with a co-signer due to the bankruptcy.
The only other option I am thinking of is a car title loan. But...
I do not have the title of the corvette because I am looking to BUY that car. Can you get a title loan by working through a dealership to get the money they need?
Is there a way to do this? Do I need to sweet talk the dealership into letting me do this? I cannot get a personal loan myself because I am 18 and have not established any credit yet.
This HAS to be a joke.
If it's NOT a joke, and you'd like to talk seriously, send me a PM. I'll be happy to visit with you.
I shudder to think how much insurance would be for an 18-yo driving a Corvette.
The OEM tires are $1200 a set on tirerack.com and they don't last long.
Hello..
Newly registered user with a quick question regarding car title loans.
My parents do not have good credit (bankruptcy a few years back)
I am looking to get a 1995 corvette, the car is selling for $11,999. However, we cannot get a car loan for a car older than 2005. We also cannot get a personal loan even with a co-signer due to the bankruptcy.
The only other option I am thinking of is a car title loan. But...
I do not have the title of the corvette because I am looking to BUY that car. Can you get a title loan by working through a dealership to get the money they need?
Is there a way to do this? Do I need to sweet talk the dealership into letting me do this? I cannot get a personal loan myself because I am 18 and have not established any credit yet.
also, a few more questions, that hopefully won't go unanswered as this could give you some guidance.
Why do you want to go through all this effort for a 1995 corvette?
What draws you to want this car so much?
What kind of job do you have now?
Do you have any plans of going to college?
Do you know that after you graduate high school driving a 1995 corvette does not help with picking up girls ?
I'll let you in on a little bit of information. You are 18. Which means that you have been driving (by yourself) for a maximum of 2 years. You are not that good of a driver, no matter how great you think you are. If you are buying the corvette because you want to go fast, well there's a couple issues with your logic. Legally, you shouldn't be. Illegally, you're going to get in some serious trouble. You can go faster than you need to with a 1995 dodge intrepid and get lots of speeding tickets. I know this. When you're young there are things that you just don't interpret. Also, if you do anything legal that necessitates you in having a corvette, those things aren't covered by your insurance, or just about any insurance for that matter. So if you crash when at the drag strip, bye bye car, and then you still have to pay on the loan because the insurance isn't writing you a check.
If you live in an area where it snows, that car will be useless.
Now, to be way more realistic, instead of buying a corvette for 12k(which is actually over blue book price, in perfect condition for that amount of miles) you could buy a newer cheaper car. And don't even say they have too many miles. Anything i'd say... 2003 and newer will have absolutely no problem of doing 150k miles if you do the proper maintenance. If you are buying it because you want to go fast, you can buy a car that has aftermarket support. Then you get a cheaper car, cheaper insurance, and then you can still make it go fast. AND to top it all off, it's you that made it go fast. not chevy. Also, when modifying your car, you learn A LOT about it. You know how so much more stuff on the car works than you would if you just bought it to go fast. I bought a 2005 scion tc in 2009. it cost 10k out the door. it got good gas mileage, wasn't fast, looked good (to me), had fairly cheap insurance, had a backseat, etc. By the time that I was done with, it would beat that corvette you want to buy in any metric of racing. Drag racing, auto-x, or road racing. It also would be more reliable, and cheaper to fix. Parts for a car from 1995 aren't always easy to find.
Moral to the story, if the dealership can't get you to a loan to the car, it isn't going to happen. They do everything they can to get a loan. They won't make any money off you if they can't get you to buy it.
TWALK is a twenty-four hour orienteering event. It is split in to five legs, each around 15-20 kilometres long. Each leg has around 10 - 20 controls, which will be hidden on features marked on the map and described by a cryptic clue.
I wonder if the op is in the pic?
lol
a vett would really help with the orientation.
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