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Discussion Starter · #1 ·
i have it all planed out.
i know my budget. i know what i can aford. i know what car. what make. modle. year. accessories. trade in value of my car.
it all works out to 200 a month or less.

there is even a thing where i can buy it for 1% under invoice if i do it with in graduation time. (so i will read into)
so that means it'll be even lower for me

my mom isnt convinced.
i had only 8 hours this pay period (2 weeks) because i was sick. and i still made 130$. thats good on only 8 hours of work!
so i know even if i get sick i can manage to pay car payments
and she still is being like this

i have no credit what so ever because i havent gotten a credit card yet.
so i cant just sign for it. i need a co-signer.

does any one know of how i can do this with out my mom?
she is happy to sign over my civic since its in her name. but she is not willing to co-sign. she is happy with the car i want
 

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Well you can get anyone to co-sign for you, as long as THEY want too. They have to make that decision, you just have to convince them. LOL
 

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Convincing someone else to co-sign is a huge pain lol. Good or Bad, as long as the loan is outstanding and for 7 years after its paid off I'm pretty sure it will show up on the co-signers credit report.

Also depending on the state, co-signers are considered co-owners and might have to be listed on the title and registration as well, I know I ran into that with a vehicle my mom had co-signed on when I was in college.

Will you be responsible for the insurance, registration/taxes, gas and maintenance (oil changes, etc) as well ? If so, do you have all that accounted for in the budget you're showing your mom as well as any other bills you might be responsible for? The gas and maintenance will probably be less or close to your current car, but the insurance will be a lot more, possibly close to the amount of your car payments each month. If you can show her that you should be able to afford everything and then still be able to accumulate some savings for other stuff, that might help with convincing your mom.

Other than that, you might check with other dealers. I know there are dealers that will work with young people trying to establish credit, if you can show them steady employment and income for a decent period of time. I don't know if they do that with new cars as much, but I'm pretty sure there should be dealers somewhere that would. I would expect to pay a much much higher interest rate at those places though. I've seen loans with interest rates as high as 25% over 6 years or more for people with no/bad credit.

Thats the best I can come up with at the moment, hopefully something there is helpful and I wish you the best of luck :) The only other options I can think of are much slower and will not help you get a caliber any time soon, unfotunately :(
 
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I guess I'm going to say the unpopular thing, but I had always wished that someone would have put some things to me in a point-blank fashion...years ago.

If your Mom won't sign, no one else should.

Having no credit card is a GOOD thing...unfortunately, you need to establish a good credit rating which means you're going to have to borrow some money from a reputable, reporting agency and pay it back in an orderly fashion to create your payback reputation.

The way that you've whittled down your monthly payment is a sign that you might not REALLY be able to afford it at this time.

Being able to pay the monthly note doesn't necessarily mean that you can afford gas and upkeep of the vehicle. I don't know what the cost of gas is in SanAntonio, but in Maryland, it is averaging about $3.00/gal. Most people drive about 1000 miles/month and have averaged 25 mpg. That means that the monthly cost of gas is going to be $40. Every three months, you'll have to shell out $25 for the oil change.

I am assuming that insurance is taken care of, but anticipate that the cost will increase with the addition of a new vehicle that has a lien-holder.

...two-cents...

Tyke
 
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Discussion Starter · #6 ·
i am only responcible for car payments and gas. insurence will be paid by mom. and oil changes will be coverd by dealer. my civig needs something replaced in the trani. not to sure automatics have more then one clutch. but one is bad. so thats ALOT of money my mom doesnt want to pay. if i am trading it in she wont repair. but she wont help me get a new car. its ****ing gay.

the only reason why my mom wont sign is because i am 19 . she doesnt want me to be under her for another 3 years. she also doesnt want added stress. though she said she'd do it...

i made this list of reasons why
http://www.texasracers.com/forums/showpost.php?p=95716&postcount=5

its really stupid. because i can more then pay for the caliber.

i spend 100-200 a month in fast food. ps2. addons for my rx7....
i dont need any of it
 

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PLEASE PLESAE please... don't take this wrong.

I'm guessing that you haven't been to the dealer to work out a payment. If I remember reading correctly you are looking at getting the SXT sport (E pkg?). Even with 1% under dealer invoice you are looking at a $18-20K car depending on your options. Not to mention the tax, title, tags and doc fees. Usually adds another $1-2K. What year is your civic? Are you going to tell them or have you told them that is has tranny problems? They will not give you more on trade for that. Are you putting down a decent down payment? Typically banks like you to put down 20-30% (not that any of us generally do that). You may be financing for more than you thought you were... Basically is what I am getting at.

I will use my first Neon R/T as an example. With my 3% under dealer invoice discount (4th generation Chyrsler family), My loaded Neon was only missing the sunroof and I financed for $14,840 for 5 years (62 mos... credit union) at 7% (rates were horrible back in 03!) I had a payment like $280.

Check out this spreadsheet that I use to figure out how much I'm going to spend. Just put in your numbers and away you go! (save as to desktop)
http://www.midwestneons.com/images/uploads/Documents/Payments.xls

Another thing... When someone co-signs for you, they are putting their credit on the line. If you miss a payment or several or don't finish the loan, it goes on their credit... real time for 7 years. That is a lot to ask of a person. You may have to find someone willing to give you a loan without a co-signer, pay the unworthy high interest, make a few payments and then try to refinance with someone else at a lower rate.

I guess it all depends on how bad you really want something.

Tiff
 
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Here's a linking about cosigning. http://www.bankrate.com/brm/news/advice/20020927a.asp
Check out the following link also, great info.
http://www.bankrate.com/brm/rate/auto_home.asp

As a parent myself, I would ask you, how long have you been at your present job, what kind of job is it? and evidently you may not have benefits, as you didn't have sick pay. At 19, you are in one of the most expensive insurance rate brackets. Do you have any idea how much full coverage is for the vehicle? Also you will need gap insurance. If your loan extends past the 3 year/36,000 warranty, you may have to pay for repairs anyway, if you don't purchase an extended warranty. My Neon had major engine work 2 years in a row, once after the initial warranty wore off due to the head gasket oil leak issue. I needed a rental car for a week both times. Also the amount of your monthly payment will depend on the interest rate and the length of time financed.

Knowing what maintaining a good credit record entails, I understand your mother's reservations. I agree that maturity levels vary. At 19, I had my own apartment, and a baby on the way. Everything I purchased, including my first car and home were on my own merits. My son on the other hand, is 22, still lives at home, and drives my old Neon. He's been somewhat careless with his finances and credit. At most, as a mother, I would cosign a personal loan, for a small amount, possibly fix your car, (honda civics are worthy investments) and work on establishing your own credit record. Get yourself a credit card, secured if you must, which builds credit and can be used for car and travel emergencies. Pay your bills promptly, as if your life depended upon it. Delayed gratification at your age is hard to endure, I know. I wish I had a dollar for every time my son told me how mature he was and how he's learned from his mistakes. I was always there to catch him, and maybe that wasn't the best thing, in retrospect. Sorry about the lecture, but chances are that unless you're Paris Hilton, your mom would be taking on a large risk by cosigning for you. We all work hard, and should take responsiblity for ourselves.
 
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why can't you get your own loan... even people with terrible credit ::me:: can get a loan through a credit agency... try andrews service and any other credit agency you can... one of em if not all of em will give you a loan for around 18g the rest just put down...
 
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Welcome to the real world! I'd recommend getting a credit card as soon as possible. A neccesary evil to build up credit. I got one from a well established company at age 18 when I went off to college. It started with a $1000 limit. When I went to purchase my Caliber this year (Age 23/24) my credit score was 740. Only put stuff on the card for what you can pay for at the time and you'll be in good shape.
 

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Discussion Starter · #11 ·
to reply to all of you.
i have been to the dealer. sxt sport is 18,500 on the sticker.
thats not invoice. i am getting 13k for my civic.
the transmition problem is not documented. and the dealer is saying it is just me. the trani is normal. so what ever.

i dont want to get a credit card with 1000 limit because. well . i dont want to pay monthly on crap. just a car.

the best way to build up your credit is a car.

i cant get a loan . even people with terrible credit can? well i have no credit so. its different

i am calling a few places. one dodge dealer said they will work with me. so i'll head over there . yeah. should be fun
 

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No credit, plenty of attitude- I'm sure you'll succeed on that alone. But remember that when people with experience give you advice, it's with good intentions and prior knowledge. I've always found that the way to succeed in life is by learning through the mistakes of others, it saves a lot of time and money. (Do I hear you saying "what ever?") While you may not always agree, learning to respond to others with respect is also an important way to earn respect.

The point of getting a credit card is not paying on crap. It should be there for convenience and emergencies. Try to rent a car without one when you travel. Building a good credit score involves demonstrating responsilbity more than one type of account. Your credit can affect your insurance rates, your interest rates, and your future employment.

If your mother has agreed to pay your insurance, don't you think that in itself is highly generous, and worthy of thanks? Good luck.
 
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87rx7chick said:
i dont want to get a credit card with 1000 limit because. well . i dont want to pay monthly on crap. just a car.
Well that answer scares me, you do understand that no one is saying to spend $1000 on the credit card, just to get one, and most first timers get a very low limit like $1000 or less. What people are saying is to get a card like that, and use it sparingly, only for small things that you can pay back the next month when the bill comes due. What that shows credit companies is that you are a good credit risk, you pay back on time and you can be trusted with money.
 

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Exactly what ejfb said. I basically keep no cash in my wallet and always use the credit card. Then when the monthly bill comes, I pay it all off so you get charged no interest. That way, you build credit AND stay in the green financially. Plus if you do it right, you can get some sort of rewards points. I had over $500 for car maintenence... I ended up getting new tires for both my cars earlier this year... basically for free due to the 1-3% back I get on purchases.
 

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that's what i did in university. i used my credit card as my cash... every penny i earned just sat in the bank.

i had to constantly remind myself that this credit card was essentially what i would use as my debit card... just a fewmore steps in the end... just cause you have $1000 bucks in credit doesnt mean you ahve to spend it all in one month. i jsut used it for my monthly expenses and used my actual cash to pay it off. it's great if you can manage it. but it's a pain in the colon if you can't and get burned by it.
 

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Well you can use the credit card to maybe pay for your gas every month. Then when your bill comes, pay it all off. Just charging, and paying back, $50/month will be really good for your credit. Just remember not to spend your now extra cash on anything, keep it in the bank. And unless you don't pay back the full amount or make a late payment, you won't be charged anything else than what you charged on it (no interest, no fees, etc).

P.S. Maybe if you had saved the extra $200/month instead of buying crap you would have a nice downpayment or savings account to help bail you out in case you couldn't make a payment one month. Then also maybe your mom would have been more apt to cosign for you.

If you have a car, keep it. I don't think 18 year olds need brand new cars anyway. If you have enough money to get a new car, then you have enough money to fix the car you have.

Why don't you save for a year and build credit for a year and then try to get a new car...
 

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87rx7chick said:
...my civig needs something replaced in the trani. not to sure automatics have more then one clutch. but one is bad. ...
Only ONE clutch is present in a transmission. It's part of the mechanism that physically changes the gears.
Have you gotten an estimate/opinion from more than one repair shop?
 
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Everyone here is making a good point. What they are saying is true, 87. But here's the deal. I'm 22 and I am now able to get a car without a co-signer. It has taken close to 4 years to build my credit from 350 to 733. My last car was a used Grand Am that I had to have a co-signer for. (I was 19 at the time). At 19, getting turned down for a loan was very hard to handle. I had/have a good full-time job with steady pay, but no one was willing to take a chance on me because I had such a short credit history.
I guess what I'm trying to say is that everyone that replied is giving great advice, but it's hard to realize when you want something so badly and feel like you can't have it. Just my 2 cents. Good luck, 87. :)
 
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Yeah I wondered that also.
 
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