Car Loan

[Flash89]

hey i am turning 17 and when i get my license i wanna get a 15000 loan for a car i want. i want a R32 GTS-t and when i get it i wanna do some mods on it ASAP. I am working full time and i got 5000 already in the bank. so far i have seen banks that only give loans to 18 years and other people. any of you guys know of any banks that will give loans my age. i plan to have my car in auto salon.

thanks

[R34]

You may need your parents to cosign a loan for the bank to accept an application

[damono]

You want your car in auto salon? I dont think $15k will cut it, sorry to burst your bubble. Also you gotta consider insurance. Insurance for a 17yr old with a turbo import would be over $3000 a year i would guess, if you can get it at all.

Without getting you down dude, you'd be better off getting a bunky till you can learn to drive properly and your insurance premiums go down a bit. If you still want a jap turbo car, i personally reckon you'd be better off getting a 180sx or silvia first, cheaper, good performance and insurance 'should' be a bit easier to get hold of.

Just my 2c tho...

[dan_the_man]

Fair enough having a skyline sounds like a pretty awesome idea but there's plenty of time for that. Once you get one you will find that you wont have much spare cash because you'll be spending it all on mods! Sounds stupid I know but its a pretty bad addiction once you start spending

Why not save up a bit more and travel for a while? Then come back and stitch yourself up for a loan for the next 5 years.

[Josh]

Yeh dude - I'm 19, so a pretty close age to you - insurance is a c**t, like $2000 for me - with clean driving hitory etc. Gotta take into account - fuel(Big $$ hahah), maintenance - you WILL need to fix things on a car that age. Also I can say that while they are awesome cars - I wouldn't have anything else - I would not recommend one as a first car - way too fast - keep saving, buy a bunky and drive that - learn how to drive a car properly. Gotta learn to crawl before you can walk dude

But whatever you do - just be careful and good luck dude

[Miller the hoon]

Yep tx3 turbo fwd or awd

keep it 4 awhile and use it 4 your bunky when you get your beast

and then build your no claim bonus up and insurance will be cheaper

and you can use your car while you r young and stupid with your mates cause they and you might f**k up the liner

james

[chaos]

I just got a loan at 19 and i got $8000, part of that was used to pay of my credit card and the rest for a car. I ended up buying an R31 silhouette, as said you gotta take into account condition of the car and costs to get it running, i've had my car a month now and its still not on the road due to fixing parts etc. I wanted a 32 as my first car but ended up with the 31 due to the fact there were no 32's within my price range, and as said, insurance will be a bitch to get, im paying $1800 a year but its not too bad considering the mods on my car etc. If you did have $15k all up, you would really only have around $12k to spend on a car, as rest goes towards stamp duty, insurance etc etc. I would expect at your age to pay up to $2500-$3000 a year on insurance, with a huge excess, so definatly take a long hard think about it before you decided, as said we dont want to discourage you, but its best to listen as we've been there and have experienced it first hand.

[Josh]

Oh yeh - forgot about my loan too.. like 175 bucks a fortnight... an insurance is more like $1860 or something like that..

[damono]

Yeh.. im 24 with 55% no claim bonus, and i still pay $1000 a year, car repayments are $530 a month, petrol about $400 a month, $1300 a year for tyres, plus servicing on imports you have to get done every 5000ks if you want to do it right. Im not sure what kind of money you earn dude.. but unless you're earning kickass money for a 16/17yr old or have 2 jobs.. just buy a bunky for the time being

[Boostzor]

Im gonna get a loan to buy a rocket ship and then im gonna put a big pink fin on it and cup holder of course. Any1 know a bank that will lend me $2.6b? hmm wonder if i could ask haliburton.........

Nahh seriously, get a nice cheap car u can beat the hell out of for a few years. U can get nice r31 for that $5k u have. Most p platers crash in their first year or 2, yeh i know, i didnt think it would happen to me either but it did.

Learn how to manage traffic and basic drving and then get yourself and over powered monster. Youve got 60 years or more to be in debt, no point getting a head start.

Edit: oh and im pretty sure that u wont find loan being under 17 as u can not enter into a legal contract. if you can it will be some insane interest rate and terms and conditons.

*we reserve the right to sell your first born child* kinda thing

oh and if i were ure parents id castrate u for even thinking about buying car like that.

Edited December 8, 2005 by Boostzor

[SKY 34]

huumm yah insurance ex, loan very limited...and once you mod, you can't stop..broke for the few yrs after....and when you re-sale the price drop like mad...so it's a money loosing investment...the mods have no re-sale value

to enter Autosalon I'm thinking mods in the order of at least $20,000 which is more than the car price itself~~

but then you had fun~~ just drive safely =)

[dan_the_man]

some how I dont think he's going to listen to us

[R33 Impul]

Well, if he doesn't I guess we'll see the car up in the For Sale section explaining how he's selling his R32 because:

1. Wrecked it trying to drift to impress his mates/girls but didn't get insurance becase it was like $3k a year with a 1.5K excess.

OR

2. Simply got sick of forking out all his hard earned cash on fuel, loan repayment, insurance, tyres, maintenance etc etc.

I hope he listens, as I think we all know what we are talking about.

[Boostzor]

Nahh man once uve paid for the purchase price it pays for itself

[dan_the_man]

Yeah its the gift that keeps on giving

[chaos]

yeh, keeps giving you debt's to pay.

[damono]

I wish i'd listened to my ex when she said i should buy a unit first, then get a skyline after. The money I would of made on the unit in 4 years, i could of gone out and bought a R33 GTR cash , instead ive still got a yr and a half loan to pay off on a car that is depreciating every day.

But in saying that, i love my car

[Josh]

Same - I spend so much money on mine - never to get it back - but the fun and joy it gives at the track is awesome.... oh and the debt is crappy...

[Sammie]

getting the car is easy finding isurance is the hard part im only 16 just purchased a skyline from autoworx yesterday still looking for insurance however best quote was $2800 from just car. gonna start modding it once a get a job soon

Edited December 8, 2005 by Sammie

[Josh]

getting the car is easy finding isurance is the hard part im only 16 just purchased a skyline from autoworx yesterday and im gay i like men

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