santiagoa526

My bank does not offer loans for any cars over 10 years old. I decided to just save up cash and buy my car outright. I haven't had my s2k for a year and I've already spent more than 4k on fixing it up. If I had to be making car payments on top of that plus insurance I'd be really bummed. My advice is to save up the money, you won't regret it.

Super Nintendo Chalmers

Sorta same here. My CU doesn't care about the age of the vehicle, just as long as it has less than 100k miles on it. For cars over 100k they only do 24-month loans.

Lil Dre

Im gonna go on the other side and say you should be able to get a loan. Im a bank representative at my job, and I do loans for kids, shit, like myself, loans all day long. Just financed a friend of mine an 04 infiniti g35 with an %8 apr. For someone out age, (im also 19) without much credit, that's a decent percentage. Private party is the way to go also. If you want, PM me and ill give you my info, We can of course do loans over the phone

Lil Dre

Also, My insurance payments are only 93 dollars a month. Granted im on my parents policy.

tunernocrust96

Yeah man. Plan is to have 5500 saved and only finance like 7k of it. My insurance drops big time in August since it'll be three years of having my license. For an ap2 s2k it'll be 115 a month which I wouldn't say is too terrible.
But it won't let me view your profile here on the forum =(

Jdrum1

Best way for a 19 year old to get an s2000?

1. get a reliable daily driver
2. get an education
3. get a good job
4. get a house
5. save for retirement
6. buy toys!

Lil Dre

Plenty of young s2k owners on here. I know 19 year olds who drive vipers and such.

cosmomiller

I have been PMing a new S owner, local guy, on stuff in the area and it turns out he is 16 and in HS. Would not have guessed it from his polished writing skills. Did not ask how he managed the purchase.

Dang, I was a senior in college before I could afford a car. Paid cash. $1. Sold it for $250 years later. Only car I made money on.

Jdrum1

Plenty of people smoke crack; doesn't mean it's a good idea.


I'll gladly play the role of Buzz Killington when it comes to teenagers and car loans (or, debt in general).




Now, who would like to look at some etchings?

JOEXIONG

that's not true, if he doesn't have any late payments and no huge amount of payoffs on the credit cards by September, he won't need a co-signer. I'm positive he can get a loan. They'll give him a loan, but maybe a higher rate do to the age of the vehicle and make sure OP you don't buy a over priced S2000. (look at the mileage and year and put into NADA. All credit Unions and banks use NADA to determine Car values.) If it's priced over the book, have some cash to boot the difference if your credit is under 700. I work at a dealership so i know. All cars being Finance doesn't require certain insurance coverages... It requires Full coverages comp/collision.

^^^ this man knows what he's saying. ^^^