17/18 year old buying a camaro/c6 vett?

[Austinfett]

[QUOTE=pickwithaustin;7907868]All the more reason to start helping out with the bills. You said you have no other bills, so are they paying things like your cell phone, clothing, health insurance"

Actually I don't have a cellphone. I have an ipod, which i bought. I suppose i actually do pay for half of our internet, but it's not a whole lot, so i just said i only pay insurance on my current car.

As far as everything else, we get enough assistance from the state to make it alright. Food and medical is payed for.

I could pay for my own insurance on the camaro/vett but i'd rather it was cheaper once i start college. I don't see anything wrong with it being in my family's name/insurance (though if it's fraud i could be a part time driver on the policy)

Though, if i was only paying for liability, i'd just have it on my own policy, because... I'd have to buy the car in full, no loans.

If anything though, i could always buy a 4th gen z28. I kind of like those. And i could sell it later.

[70rsz28]

When I was 17 -18 I was looking at Trans am's and Z28 's then looked at vettes . When I turned 19 I ordered a new corvette , I remember the day sept 27 . For me it's something I am still proud of ! 1 I bought and paid for it myself , 2 I saved for a car with no parental help . The car took 6 mths to arrive and there were 3 price increases during this time . I was price protected so it did not effect my bottom line . I drove the car may to oct and had a winter car to use as well . I sold it after 6 yrs of owning it and it was my down payment for my house . You op have to do what's right for you . For me everything worked out . I look at it as a proud accomplishment to this day !

[purv24]

[QUOTE=Austinfett;7907924]

Originally Posted by pickwithaustin

All the more reason to start helping out with the bills. You said you have no other bills, so are they paying things like your cell phone, clothing, health insurance"

Actually I don't have a cellphone. I have an ipod, which i bought. I suppose i actually do pay for half of our internet, but it's not a whole lot, so i just said i only pay insurance on my current car.

As far as everything else, we get enough assistance from the state to make it alright. Food and medical is payed for.

I could pay for my own insurance on the camaro/vett but i'd rather it was cheaper once i start college. I don't see anything wrong with it being in my family's name/insurance (though if it's fraud i could be a part time driver on the policy)

Though, if i was only paying for liability, i'd just have it on my own policy, because... I'd have to buy the car in full, no loans.

If anything though, i could always buy a 4th gen z28. I kind of like those. And i could sell it later.

Well bro maybe you should settle for less then. You cant really have all your ducks in a row if you don't know what the ducks are?

But the maintenance and upkeep on these cars are a chore in themselves. I barely have time for mine. Best thing to do is finish school, get a good job and then re evaluate what you want out of life. Because trust me, if you want a certain car this bad NOW, it will be a different car youre lusting after in 5 years.

[All Star]

Originally Posted by jdubzzz44

yeah... save your money, go to school full time, get a real job, than worry about having nice things

This. Or at least wait until you can put down a hefty first payment. I bought my car at the age of 20, but I waited until I had enough money saved to buy it in cash.

$350/month in insurance is a boneheaded financial decision.

[rontammy0]

Originally Posted by jd10013

I smell a troll

Hmm I was thinking the same thing.....these threads only bring out the kids that post how they bought a new camaro and never looked back. Makes me wonder why they think they can bs guys on here that have been around the block more then once. I get sick of the bs.

[StanLE]

Ok now I'm certain you're a troll. Good job, you got us.

[SteelCamaro]

I would wait a little bit, man. Get some priorities straight to set yourself up a bit better financially first...unless you're already a millionaire, then do whatever, haha. You can still feasibly buy one in a couple years...I was 23 when I bought mine 2 years ago and haven't looked back.

[PoorMansCamaro]

Originally Posted by Austinfett

All the more reason to start helping out with the bills. You said you have no other bills, so are they paying things like your cell phone, clothing, health insurance"

Actually I don't have a cellphone. I have an ipod, which i bought. I suppose i actually do pay for half of our internet, but it's not a whole lot, so i just said i only pay insurance on my current car.

As far as everything else, we get enough assistance from the state to make it alright. Food and medical is payed for.

I could pay for my own insurance on the camaro/vett but i'd rather it was cheaper once i start college. I don't see anything wrong with it being in my family's name/insurance (though if it's fraud i could be a part time driver on the policy)

Though, if i was only paying for liability, i'd just have it on my own policy, because... I'd have to buy the car in full, no loans.

If anything though, i could always buy a 4th gen z28. I kind of like those. And i could sell it later.

ok, you got us!

[Austinfett]

Well, actually, i'm serious. But i think it will be too high maintenance in the long run. I guess if i save money and just put it away for a later date i'll be better off. Use it for college expenses. If i made more money i think it would be better. Even though it would kind of suck.

So, no i'm not trolling, i just have a strong love for newer cars.

[SteelCamaro]

Originally Posted by Da Mammer

2 that's called fraud. And if your $350 a month number came from this idea, you're screwed if you try and fund it the proper way. The fraud is another reason to say you're not ready for this car from either a financial or responsibility stand point.

I second this. Generally it's okay if you're running an errand or something for the person who's name it's under, but if something happens and they find out YOU'RE the one that regularly drives the car, good freaking luck.

[beasstmode]

Originally Posted by ChrisBlair

Talking down to kids and using names like "boy" seemed stupid when I was 16.

Now I'm 43 and it still seems stupid.

If you need to use names to impart wisdom, you aren't half as wise as you think. Just when did pissing somebody off make them agree with your point of view? The only thing talking down to this kid does is make you feel better about yourself.

+1 good sir.. couldn't have said it better myself

[GONIF]

It is easy to make mistakes when your young . Everyone has done it . Just understand that nothing is free in this life ,and you are the one who pays sooner or later. With this understanding and some luck you will figure out what is best for you in the long run . And the long run is going to be a lot longer then you can imagine at your age . Plan for the future or it will bite you in the ass . Make ALL decisions dead sober ,wear a condom, and you will figure the rest out .

[abaucom21]

OP...I would suggest save some money for a good down payment and look for a nice low mileage used Camaro and avoid first year depreciation especially since you said you will only be driving it summers.

You said you are going to college, good for you. Strongly suggest you save money, avoid going into debt with student loans, suggest you work as little as possible while in college so you can focus on your studies. If you make good grades, excel, there are many scholarships that can also help pay for your education.

Do the math: Add up the interest you will pay on a car loan. Add up the interest you will pay on student loans. You will be shocked at the tens of thousands you will pay in interest over the years. I know it seems like a lifetime from now before you get out of college but don't get dragged down with so much debt before you even start your career. You want to have some money put away so when you graduate you can afford to move to where you can find the best job at best salary. You might get the best job and best salary if you excelled in school.

Yes, I am a professor and have a clue about student debt, student stress, because I see what my students are experiencing trying to work their way through school and at graduation find themselves in massive debt in their early 20s. Far too many of my students have to take the first job that comes along after graduation just because they have student loans to pay off during the next 15-20 years.

My first auto was my parents 4 year old 1963 Thunderbird back in early 1967, when I turned 16. I did not suffer driving that slightly used Bird during high school or first semester of college in 1969. Late 1969 Dad totaled my 1963, gave me his slightly used 1966 T-Bird. Did not suffer driving a late model 1966 T-Bird until Dad borrowed it and totalled that Bird at end of my collage first year, May 1970. In my opinion age does not necessarily equal maturity. Dad totaled my first two cars when I was in my teens, I did not get my first red light camera ticket until I was in my 60s.

Yes you are a young inexperienced driver. Buy what you want and enjoy for the moment. When I was in my teens I was a more mature and safer driver then my Dad, and he was in his 40s (LOL)! Please consider your debt load 4-5 years from now. Focus on excelling in your college studies and not an auto. Maturity is thinking about future consequences for actions today.

[Austinfett]

Originally Posted by SteelCamaro

I second this. Generally it's okay if you're running an errand or something for the person who's name it's under, but if something happens and they find out YOU'RE the one that regularly drives the car, good freaking luck.

True. And the $350 a month was my own policy.