New Car!!!

norachelhere

norachelhere

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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!
 
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dixie_darlin

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Originally Posted by NoRachelHere

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!
Click to expand...
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!
 
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norachelhere

norachelhere

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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!
 
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dixie_darlin

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Originally Posted by NoRachelHere

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!
Click to expand...
Coupe!
Either way, I think you're doing the right thing.. Financing on your own is better on your credit!
 
gailc

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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.
 
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dixie_darlin

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Originally Posted by GailC

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.
Click to expand...
If I'm not mistaken, her current car is paid off
 
babyharley

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Originally Posted by Dixie_Darlin

If I'm not mistaken, her current car is paid off
Click to expand...
Nope, she says she still owes $2,500 on it... :

Originally Posted by NoRachelHere

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. . .
Click to expand...
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!
 
larussa

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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.
 
duchess15

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Originally Posted by babyharley

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!
Click to expand...
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.
 
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lizsto1

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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.
 
clixpix

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Originally Posted by GailC

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.
Click to expand...
Originally Posted by babyharley

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!
Click to expand...
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.
 
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dixie_darlin

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Originally Posted by babyharley

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!
Click to expand...
Whoops... sorry
 
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