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New Car!!!

post #1 of 22
Thread Starter 
Okay, so I went shopping today and have found the car that I want. All I have to do is convince momma that I can afford it and that I am responsible enough to get it.

When I was living on my own I paid all the bills, because my boyfriend did not have a job. So I was paying everything, rent, water, power, cable, phone, car payment, car insurance, etc. Now that I live with mom, I will only be paying for my phone! This frees up alot of money!

The car that I want is a 2008 Mazda 3speed. It is GORGEOUS!

It is a 6 speed 4 cylinder. It is a silver 5 door hatchback. IT HAS 4 MILES ON IT!!!! only 4! not 400 or 4000 or 40000! 4 - f.o.u.r! How awesome is that!?

If it was not for the fact that I am so young, I would already have bought the car, however, I need mommas signature. Only for 12 months. After 12 months I can sign her off and it will be solely in my name.

My car now is getting ready to roll over 180 thousand miles. It needs new tires and about 2000 dollars worth of work to get it truly raod worthy and reliable and I still owe 2500.00 on it. . .

If I get this new car they are going to give me 500.00 for it as a trade and pay off my loan! So it will look REALLY good on my credit!!!! I am really hoping my mom realizes that this would be a very very good opportunity for me. She is worried I will go back to my ex, and this sounds funny, but if I got the new car it would force me not to! I could not afford it! lol

Vibes please for an AWESOME early 21st birthday present!
post #2 of 22
Thread Starter 
http://www.mazdausa.com/MusaWeb/disp...ode=MS3&bhcp=1


ITS SO PRETTY!!!!!
post #3 of 22
That's awesome...I hope you get it...
post #4 of 22
I have a mazda 3 in baby blue. You will love it! Drives so smooth! I hope you get it and I'll keep my fingers crossed.
post #5 of 22
Quote:
Originally Posted by NoRachelHere View Post
Okay, so I went shopping today and have found the car that I want. All I have to do is convince momma that I can afford it and that I am responsible enough to get it.

When I was living on my own I paid all the bills, because my boyfriend did not have a job. So I was paying everything, rent, water, power, cable, phone, car payment, car insurance, etc. Now that I live with mom, I will only be paying for my phone! This frees up alot of money!

The car that I want is a 2008 Mazda 3speed. It is GORGEOUS!

It is a 6 speed 4 cylinder. It is a silver 5 door hatchback. IT HAS 4 MILES ON IT!!!! only 4! not 400 or 4000 or 40000! 4 - f.o.u.r! How awesome is that!?

If it was not for the fact that I am so young, I would already have bought the car, however, I need mommas signature. Only for 12 months. After 12 months I can sign her off and it will be solely in my name.

My car now is getting ready to roll over 180 thousand miles. It needs new tires and about 2000 dollars worth of work to get it truly raod worthy and reliable and I still owe 2500.00 on it. . .

If I get this new car they are going to give me 500.00 for it as a trade and pay off my loan! So it will look REALLY good on my credit!!!! I am really hoping my mom realizes that this would be a very very good opportunity for me. She is worried I will go back to my ex, and this sounds funny, but if I got the new car it would force me not to! I could not afford it! lol

Vibes please for an AWESOME early 21st birthday present!
I love it!
Mazda's are awesome cars! My truck is a Mazda

I can't wait to see it!

Come on mom, let her have it!... Pleeeeeeeeeeeeeeeeeeeeeease? She deserves it!
post #6 of 22
Those cars are VERY cute!! I hope you get it
post #7 of 22
Are you leasing or buying it?

Good luck!
post #8 of 22
Good luck! I hope you are able to get it!
post #9 of 22
Nice choice. congrats and good luck!
post #10 of 22
Thread Starter 
okay, due to some extenuating circumstances, mom is unable to co sign for me. . . HOWEVER. .. I spoke to the sales man again and he said he can get me in the mazda 3 (not the speed one ) on my own, and then in 12 months he would be able to get me in the speed on my own! I am thinking I am going to take that route. . . I just dont know whether I want the hatch or the coupe now!!!!


Decisions decisions decisions. . .

What do you guys think I should do??

Either way I am really excited!


p.s. I would be buying. I drive WAY too many miles to lease!
post #11 of 22
Quote:
Originally Posted by NoRachelHere View Post
okay, due to some extenuating circumstances, mom is unable to co sign for me. . . HOWEVER. .. I spoke to the sales man again and he said he can get me in the mazda 3 (not the speed one ) on my own, and then in 12 months he would be able to get me in the speed on my own! I am thinking I am going to take that route. . . I just dont know whether I want the hatch or the coupe now!!!!


Decisions decisions decisions. . .

What do you guys think I should do??

Either way I am really excited!


p.s. I would be buying. I drive WAY too many miles to lease!

Coupe! Either way, I think you're doing the right thing.. Financing on your own is better on your credit!
post #12 of 22
Just a caution. The amount you owe one your current vehicle over and above what they are "allowing" you the $2000 this is being written into your current loan????
What is the term of the loan?? Please do not say its 72 months.
I worked in auto finance for 20 yrs and if the dealer is adding the $2000 you still owe on your current vehicle and having you finance it for 72 months you will be setting yourself up on the road to always being "upside down" in your vehicle loans. You will not have equity in this new vehicle for five years

Trust me on this I've dealt with enough finance mgrs at dealerships. Your best bet is to get your current loan paid off and then you will be in a better financial position.
Look at the APR (interest rate) and the amount of finance charges you will be paying.

I know you are excited but you need to be practical too.
post #13 of 22
congratulations! is a lovely car!
post #14 of 22
Quote:
Originally Posted by GailC View Post
Just a caution. The amount you owe one your current vehicle over and above what they are "allowing" you the $2000 this is being written into your current loan????
What is the term of the loan?? Please do not say its 72 months.
I worked in auto finance for 20 yrs and if the dealer is adding the $2000 you still owe on your current vehicle and having you finance it for 72 months you will be setting yourself up on the road to always being "upside down" in your vehicle loans. You will not have equity in this new vehicle for five years

Trust me on this I've dealt with enough finance mgrs at dealerships. Your best bet is to get your current loan paid off and then you will be in a better financial position.
Look at the APR (interest rate) and the amount of finance charges you will be paying.

I know you are excited but you need to be practical too.
If I'm not mistaken, her current car is paid off
post #15 of 22
Quote:
Originally Posted by Dixie_Darlin View Post
If I'm not mistaken, her current car is paid off
Nope, she says she still owes $2,500 on it... :

Quote:
Originally Posted by NoRachelHere View Post

My car now is getting ready to roll over 180 thousand miles. It needs new tires and about 2000 dollars worth of work to get it truly raod worthy and reliable and I still owe 2500.00 on it. . .
I have to agree with Gail. I worked in a car dealership doing Finance & she's right.
Also... just because you don't have bills to pay now, doesn't mean that won't change down the road - just don't get in too over your head now & regreat it later!

Best of luck to you in your decision!
post #16 of 22
You go girl, your head is in the right place and I do hope your mom will agree to co-sign for you. When you get it, post a pic of it....it sounds fantastic.
post #17 of 22
Quote:
Originally Posted by babyharley View Post
right.
Also... just because you don't have bills to pay now, doesn't mean that won't change down the road - just don't get in too over your head now & regreat it later!

That is very important. When I bought mine, I made the car salesman understand that if I could not get the car to the monthly payment I was on now, there would be no deal. I still had to pay some money into it, but I also got what Toyota offered me to trade it in. The salesman remarked that I was paying a lot cheaper monthly than most people. My reply was that even though I didn't have bills currently, I would once I moved and I would still have that car bill.

You always have to think in advance because life will throw things at you when you least expect it.

I think you should finish paying for your current car and try to get more for the trade-in. It may be best to wait at this time.
post #18 of 22
I for one am glad she is hearing this from others besides me. Sometimes I feel as though she thinks I dont believe she can do it. I have tried to preach priorities. Sometimes she does not hear me.
post #19 of 22
Quote:
Originally Posted by GailC View Post
Just a caution. The amount you owe one your current vehicle over and above what they are "allowing" you the $2000 this is being written into your current loan????
What is the term of the loan?? Please do not say its 72 months.
I worked in auto finance for 20 yrs and if the dealer is adding the $2000 you still owe on your current vehicle and having you finance it for 72 months you will be setting yourself up on the road to always being "upside down" in your vehicle loans. You will not have equity in this new vehicle for five years

Trust me on this I've dealt with enough finance mgrs at dealerships. Your best bet is to get your current loan paid off and then you will be in a better financial position.
Look at the APR (interest rate) and the amount of finance charges you will be paying.

I know you are excited but you need to be practical too.
Quote:
Originally Posted by babyharley View Post
Nope, she says she still owes $2,500 on it... :



I have to agree with Gail. I worked in a car dealership doing Finance & she's right.
Also... just because you don't have bills to pay now, doesn't mean that won't change down the road - just don't get in too over your head now & regreat it later!

Best of luck to you in your decision!
Please listen to Gail and Kenz. They've both worked in the industry, and know what's a smart decision, and what is not.

I know all about wanting things, we all do. That doesn't mean it's always the right decision at the moment. You do have a financial opportunity right now. You have the opportunity to pay off your car, and save money and become financially secure. Maybe you can get a dream car in the future, but IMO, you're not doing yourself any favors financially. Don't listen to the car dealer, he's not looking out for you, he's motivated to make a sale. You're young, don't fall into the trap of trying to acquire big ticket items before you're in a sound financial position. IMO, you should wait until you pay off your car, and have a bit of money stashed away.
post #20 of 22
Quote:
Originally Posted by babyharley View Post
Nope, she says she still owes $2,500 on it... :



I have to agree with Gail. I worked in a car dealership doing Finance & she's right.
Also... just because you don't have bills to pay now, doesn't mean that won't change down the road - just don't get in too over your head now & regreat it later!

Best of luck to you in your decision!
Whoops... sorry
post #21 of 22
Thread Starter 
The problem with waiting to pay off my car is that it is not going to last that long. I will be lucky if I get another six months out of it. I need a newer car. And If I get the one that I want I will keep it till the wheels fell off. . .
post #22 of 22
Quote:
Originally Posted by NoRachelHere View Post
HOWEVER. .. I spoke to the sales man again and he said he can get me in the mazda 3 (not the speed one ) on my own, and then in 12 months he would be able to get me in the speed on my own! I am thinking I am going to take that route.


p.s. I would be buying. I drive WAY too many miles to lease!
Buying is your best option if driving a lot of miles. I also bought. Your comment about the salesman makes me very leary...no one has mentioned it so far, so I will. Remember, no matter how nice a saleperson may be, they will always be out to get that commission. I do not like the fact that he can get you in one car now, and then switch to another. It sounds good, but it's not in YOUR best interest. Each time you trade in a car, you start over with payments AND you may actually owe more than the car you started with.

The salesperson ( and not all of them are bad, but all want that commission) will do whatever it takes to get that sale even if it not in your best interest. I think it would be smarter to wait and do what will benefit you the most. You will thank yourself in the future.

P.S. If you can't wait that long, shop around at more than one dealership. IF they really want your buisness and know you are not set on them, they will work with you (lowering price, etc) anything to get them that sale. Do not EVER let them force you into anything you think you couldn't pay either.
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