Parents are afraid of this camaro's payments...please help!

[mlee]

OMG your mom is right... you have NO business buying this car...
Just do it and you'll find out the hard way.
(cause you're going to do it anyway... why ask us)

[Phoneguy]

Originally Posted by mlee

OMG your mom is right... you have NO business buying this car...
Just do it and you'll find out the hard way.
(cause you're going to do it anyway... why ask us)

Good point!

[nUcLeArEnVoY]

Dude, just get the car. (Lol.) I see these threads pop up more and more often and it's either irrational support towards getting the car or overwhelming deposition towards getting the car where the middle aged guys stand up on the soap boxes.

Rationale and financial intuition are tossed aside in the mindset of someone his age, isn't everyone aware of this? It's ironic, since I am willing to bet that a good percentage of the older guys on this forum did the same exact thing at his age and to me it doesn't look like they turned out all that bad. I doubt you are posting from under a bridge or in a project, you wouldn't even be able to afford internet with the 'doom n' gloom' scenarios this poor kid is probably conjuring up in light of your opinions.

Thinking with your head would steer you towards listening to your parents. I work at a restaurant, so I know how it is. And like you, I have college paid for. Difference is, I'm a full-time human resources clerk, not a server. That's a pretty uneven income to depend on - one month you've got it made, the next month you're living on Top Ramen. The only advice I can give to you considering your circumstances would be to find a more steady job. I already know you're not going to give up on getting the car, you just don't have the will to make such a decision at your age. At your age, life is about the moment: being single, going out, having a good time, partying with friends, getting the girls. As well it should be. It's just human nature to spend money frivolously - hell, it's the reason we go to college, so we can grow up to be BIGGER buyers and sellers. It's also why there's the old saying: "There's a time and a place for everything, and it's called college," meaning it's these years in which you can do stupid things like this.

With age comes wisdom, he, myself (since I'm around his age), and anyone else in similar situations will learn our mistakes and turn out alright. What matters is that the time spent with what you've been longing for will be fun and memorable, so then you can look back and say "I had it... and I had fun with it." He's not going to end up homeless or lower class because he bought a freakin' Camaro. I mean, how would that sound during the consultation with the bankruptcy attorney?

"Well, Mr. Marcus, I bought a Camaro... loved it, wasn't willing to sell it even though the payments overwhelmed my ability to pay my mortgage and utility bills, I eventually went under, lost my house, moved back in with my parents... but hey, I still got the Camaro! Wanna see it? I just put on a new cowl hood!"

Consider what your parents said pertaining to your job, dude. That's all my problem is with it. That's very unsteady work.

[Ambitious09]

Honestly You're in a pretty good position right now. A late 2000 model car, 2007 right, parents paying for the costs? You make 700 a month and don't have to worry about student loans. Debt is not a fun thing to be in, if I were you I would look at what you would be paying on paper for a note over 5 years and add it up. After you see how much money you would have banked up when you graduate you'd be able to buy the next hot car basically in cash.

The time you stay with your parents is bascially the time you need to be saving your money. I'm 21 and the only reason I'm even thinking about ordering this car is because I've gone through three engines on my tercel and it's about to go out. I'm in school like you and having debt to pay while taking a full load of classes and 40 hrs at work is not easy or fun. With how fickle everything is right now you should be trying to avoid debt. Ask yourself this you love this car but what if you lose your income and have to lose the car, know how bad that would hurt?

[SlingShot]

Originally Posted by nUcLeArEnVoY

Dude, just get the car. (Lol.) I see these threads pop up more and more often and it's either irrational support towards getting the car or overwhelming deposition towards getting the car where the middle aged guys stand up on the soap boxes.

Rationale and financial intuition are tossed aside in the mindset of someone his age, isn't everyone aware of this? It's ironic, since I am willing to bet that a good percentage of the older guys on this forum did the same exact thing at his age and to me it doesn't look like they turned out all that bad. I doubt you are posting from under a bridge or in a project, you wouldn't even be able to afford internet with the 'doom n' gloom' scenarios this poor kid is probably conjuring up in light of your opinions.

I think you would find most of the older guys on here ( over 40 ) didn't live off there parents. Generally speaking I would say they were told to get a job and move on. Time to be your own man and stand up for yourself.

Me personally I was even in a earlier time.... When we were finishing High School we were drafted, and half were coming back in body bags or totally messed up in the head. We had no choice to grow up quick. For me my life is on cruise control now. I'm retired and living very comfortable on investment income.

I do know and understand things are different now a days. It's harder to make it on your own. Heck I even had one come back home because he was broke and in debt, and trying to finish his degree in education.....

[383ss]

no way in hell should you be buying it in the situation your in. they are RIGHT, you are WRONG. sorry.

[DntWrryBeHappy21]

As a college student myself I would reccomend what most have already said, wait! You won't get to enjoy the car as much as you'd like now and well honestly if i had a 350z rather than my dam sentra, i would have a great time waiting to graduate and buying my camaro. I personally decided I'm going to wait until i graduate and buy the camaro as a graduation gift to myself and by then even though i will be working i will be able to drive it ALOT more than i could while in college. Plus do you really want to spend all or a majority of your income on a car so early in your life? Save up and buy it when you can enjoy it with money left over savvy? Good luck with your choice =) You probably hate us all for trying to talk you out of it but just looking out...

[Tsudy]

General rule of thumb is to have all your rent/mortgage and car/insurance fit into 50% of your monthly salary. Unless you intend on living @ home until the car is fully paid off, there's no way you can afford it unless you find a much (MUCH) better paying job.

While it may be possible to afford it with your situation RIGHT NOW, do yourself a favor and look a couple years into the future. A brand new car in your situation will strap you for cash... hard. It'll sway from being the awesome car you've always wanted into a soul sucking giant hunk of metal that you wish would just die a horrible, horrible death so you can be free of its endless grasp.

Luckily when I turned 18, my dad and I just went out and bought me a used 1991 Pontiac Grand Prix. He paid $3,000 for it and the agreement was that I pay for the insurance and gas money. This worked out well and the car stayed with me for 10 years. My Camaro I have on order will be my first brand new car. Despite having enough cash in the bank to buy it outright, I plan on financing about $15,000 "just-in-case". The "just-in-case" meaning any of the following:

- All life on the world ends except for those I owe money
- I lose my job (for any reason)
- Unforeseen expenses popup (such as my computer getting fried)
- Emergency cash to support family if disaster strikes
- Etc... etc... etc...

These are questions that you don't seem to be asking yourself currently because you're young, idealistic, and still have a lot of support coming from your parents. You will save yourself a *LOT* of grief in your short term future by sitting down, objectively, and looking at your 5 year plan. If you find yourself trying to get your budgets to work in order to pay for your car then you flat out cannot afford it.

PS - Dating is ridiculously expensive, too =) 350Z will be an impressive car for that special girl or guy (if you swing that way). While a 2010 Camaro will be MORE impressive, I'm pretty sure you'll be going home solo when you can't afford to go to a dinner, movie, concert, etc.

Summary: Your mother's right - you should cancel your order, stick with the 350Z, spread your wings and fly from the safety nest of your parents and build your life.

[NoUCantDriveIt]

Tsudy

[chevydude26]

700 dollars a month?? dude your car pyment will be near that if you get the ss...are you insane?

although you have 4 years in college and if you keep your job those 4 years you can pay off the car...you will need a cosigner

but i think your not factoring in for worst case scenarios and your eating up a lot of capital on just a car...its just not smart

[ahart04]

sorry bro but i know you feel like going to school and doing your part entitles you to alot...and of course you believe this, this is what your parents told you, that they would support you if you just held up your end in school. but remember that it's still kind of a skewed perception of reality. they are supporting you. the goal of every parent is to move toward the independence of their child. your lucky to have a near new 350z, enjoy it, finish school, get a job, and get yourself all the toys you can afford.

[shroomjohn]

Im sorry is this a joke look kid you dont get everything you want in life. If you want this take the burden off your parents and save up to buy it yourself.

[Legend]

Originally Posted by Tsudy

Summary: Your mother's right - you should cancel your order, stick with the 350Z, spread your wings and fly from the safety nest of your parents and build your life.

Originally Posted by NoUCantDriveIt

Tsudy

Perfect...that says it all!

[FNKNSTN]

Maybe you should just wait until you're old enough to do whatever you want without getting mommy's approval.