[Eata34]

Hey guys, I am currently 18, about to be 19 in November. I am trying to find what route to take to approach getting my new camaro. Now I want to tell you guys, I am the type of person who really wants to exceed in life. I want to live a very great life, financially included.

Ok, so I just got out of high school, and I start college at Western Georgia College in January. I am going for a Lineman Career. The thing is, I dont know much about being a lineman, but I guess that's what school is for. I'll be living about 6 miles from the school. I'll be living in Atlanta, Georgia of course.

What i want to know is what is the best approach to getting a new Camaro in the next 5 years? I know for sure that I'm getting a 2SS for sure. I want the V8 and I want it fully loaded. I will also be getting NPP and MRC, and whatever else goodies that come from the factory. School is only 3 months long for Western Georgia, so after school is over, and I get the a lineman job, what should I do to approach getting my new Camaro? I don't know exactly how to put what I'm trying to say into words, but I'm doing the best that I can, so bare with me. I want to save. I want to save big. But I also want my Camaro before I'm 30. I want it when I'm still in my 20s. I will be living with my dad, so I won't have to worry about any bills except for my phone, food, my current cheap car to get me to and from work and school. I know for sure that I will not be getting my Camaro in the next year or 2 because I know it would be dumb of me to get a new Camaro right off the bat, especially if I want to save towards my life goals.

So to sum it all up, how do i approach getting my Camaro? I will be getting the current year model. So whatever the newest Camaro is, say if it's 2019, I'll be getting a 2019. How do i approach all of this? Financially wise. Ill be making around 45k my first year, but after hopefully nearing a Journeyman, I will be making close to 96k. How will that camaro effect me financially? Should I wait a few years, like 3 or 4, after saving money instead of jumping straight in? Would i still be able to save after I buy my Camaro? I have a clean driving record, and hopefully it stays that way. What insurance should I get?

I'm sorry it's alot, but I'm really trying to figure all this out. Thank you guys

[DefianceDan]

All I'll say is that last weekend while cruising, I hear a kid on the street say "Why do only old guys drive cool cars"

My first thought was - when did 45 become old....ouch!

My second though was - because only old guys can afford them.

(I'm sure there will be a ton of more useful replies here)

[Jdelgado92]

I would say build up your credit score as much as you can. The better the credit score, the lower the car note unless you're trying to buy it straight up.

[ST1LE]

Well, first thing first you have to create a positive savings plan. I use an excel spreadsheet to keep all my expenses visible(reoccurring payment are easy to forget about netflix, etc). I then look at my net(after tax) income to see what sort of money I have left after I have paid to live(food, shelter, etc).

This number may be a little depressing in the beginning, but don't get discouraged it will grow! From there, as you have some years, you just need to stick with it and save as much money as you can and not just for the car as life has a nack of throwing wrenches in plans and you need to be prepared. Also the car you will trade in, if you will be, can save you money in some states by reducing your sales tax.

I understand the desire to have the latest and greatest and I wont tell you what to do, but you could save a bundle of cash waiting and buying between models years. For example, 2016 Camaros have had a drastic reduction in price with 2017's showing up on lots etc. There is nothing better about a 2017 v a 2016.

Insurance wise, you will likely get hurt there considering your age but shop around ans see what quotes you get at the time you are ready to buy.

In the end of the day, buy what you can or wait. Take it from me, the joy of having the car of your dreams is greatly diluted if you are stressed about the payment.

You have done the right thing by starting to concern yourself with these things so early. Just keep grinding and saving and when you want to spend money, think about your future Camaro haha...that should keep you on track.

Good luck youngsta, and welcome to the forum!

[Seahawkfrost]

I would say to make sure you pay yourself every payday and what I mean by that is to save money every payday and don't touch it. Just consider that one of your bills. Establish your credit by maybe getting a gas credit card and pay it off every month.

[Eata34]

Originally Posted by DefianceDan

All I'll say is that last weekend while cruising, I hear a kid on the street say "Why do only old guys drive cool cars"

My first thought was - when did 45 become old....ouch!

My second though was - because only old guys can afford them.

(I'm sure there will be a ton of more useful replies here)

Well I'm going to be old then because I will definetly be driving a cool car , and not a ricer wannabe.

[Eata34]

Originally Posted by Jdelgado92

I would say build up your credit score as much as you can. The better the credit score, the lower the car note unless you're trying to buy it straight up.

I will definetly be getting my credit score up. I currently have good credit. My grandma is helping me build it up by putting my name on the lights, and paying it. So my credit is slowly rising. That is definetly good to have. 8 will not be buying it straight up. Thank you for replying

[Eata34]

Originally Posted by ST1LE

Well, first thing first you have to create a positive savings plan. I use an excel spreadsheet to keep all my expenses visible(reoccurring payment are easy to forget about netflix, etc). I then look at my net(after tax) income to see what sort of money I have left after I have paid to live(food, shelter, etc).

This number may be a little depressing in the beginning, but don't get discouraged it will grow! From there, as you have some years, you just need to stick with it and save as much money as you can and not just for the car as life has a nack of throwing wrenches in plans and you need to be prepared. Also the car you will trade in, if you will be, can save you money in some states by reducing your sales tax.

I understand the desire to have the latest and greatest and I wont tell you what to do, but you could save a bundle of cash waiting and buying between models years. For example, 2016 Camaros have had a drastic reduction in price with 2017's showing up on lots etc. There is nothing better about a 2017 v a 2016.

Insurance wise, you will likely get hurt there considering your age but shop around ans see what quotes you get at the time you are ready to buy.

In the end of the day, buy what you can or wait. Take it from me, the joy of having the car of your dreams is greatly diluted if you are stressed about the payment.

You have done the right thing by starting to concern yourself with these things so early. Just keep grinding and saving and when you want to spend money, think about your future Camaro haha...that should keep you on track.

Good luck youngsta, and welcome to the forum!

This is greatly appreciated. I am a little confused in the Excel spreadsheet, but I think it will be needed for my future plans. Care to explain how to set that up? Also, I'm not too sure about quotes on insurance. Care to explain how that works as well? And I forgot to mention, my dad is a Chevrolet salesman and I will be buying my car from his dealership. I will be getting the car for the car price, not the dealer MSRP tag up. I will also be getting the car under invoice. So I believe that should help me greatly in my payments.

[Eata34]

Originally Posted by Seahawkfrost

I would say to make sure you pay yourself every payday and what I mean by that is to save money every payday and don't touch it. Just consider that one of your bills. Establish your credit by maybe getting a gas credit card and pay it off every month.

That is definetly something that I plan to do, payday wise. I'm not the type to spend money just because I can. What exactly is a gas card though?

[SpookShow'84]

You've got bigger fish to fry first.

Tips.

Only get one credit card, with a low limit. Keep the balance under 50% and always pay it on time (preferably with an automatic withdraw so you never forget). It's a good way to boost your credit score without owning a home.

Set back $2K a year for some sort of a compound interest retirement account (Roth IRA etc...), for five years, STARTING NOW!!!!! This initial $10K with about 8% growth ends up with you a millionaire at retirement.

Find a job that pays what you need to not have to stretch to afford the car. Payment should be about 25% of your take home insurance included. You don't have to be a lineman ( i know guys that hate it ). Even if it's just for a short term, look at jobs that don't require $40k in student loans to make money fast. Examples would be CAT industrial equipment mechanic, repair technician for hospital electronics, hell even trash truck drivers make pretty decent money without much time in training or money in education. It's tough to have the first part of your life slaving away at education, then the rest slaving to pay student loans. Doctors make good money, but they're a working like a mule dealing with the job and the tuition!

Once you get this type of stuff knocked out then worry about the car. I've had buddy's that did the cool, fast car out of high school and it didn't improve their lives much and they were a slave to the car payment and it eff's up your options latter in life if you live paycheck to paycheck all the way through you 20's.

Get something decent fast and cheap, NOT NEW, and go from there for a fun car for now. In the end it doesn't matter a whole lot if you're not the fastest on the street b/c there's always going to be someone faster ( usually maxing out credit cards and living in a shoebox to be that fast ), and you'll still have options on being fast enough with mods to make you appreciate the project type car.

[SixgenSix]

Study hard, work hard, save, save, save and take care of your credit like it's your BABY, seriously. Outstanding credit will get your just about anything at an insanely low % rate or no % rate at all. If you don't plan on paying in full, I would aim to pay at least half of the price of car. It's what I did with I bought my 2016 coupled with a extremely low % rate. On top of that have a nice cushion of savings in the background building for bigger and better things in life.

[bybcous]

I agree at the credit statements, as a youngster I didn't realize how important it is and abused it and it took me until 27 to get it looking good finally. Some of my first auto loans had some really high interest rates, but I needed a car at the time and wouldn't take back nothing that I did in my past. I have purchased 3 brand new cars since I was about 28 and I am 30 now. I would personally say don't set yourself with a 40k car at this point in your life and aim more for a 16k car, it sucks I know, but your time will come down the line. It also took me a good amount of time to start making good enough money to live off of and buy a sports car. I will say I'm just a normal working guy but it took my household income to rise to around 110k before I felt comfortable enough to buy a brand new car. Notice I said household and not just my income.

[dpevans]

You need to figure long term goals. Why do you need a 2SS? If you are starting out at 45k then buy a used 2LTRS and get it paid off quick or save enough to pay cash. If you like and you get the huge raise to 95k then evaluate your situation. Do you still want a sports car, does the RS do the trick, start a family, buy want you can afford.

[SpookShow'84]

Start the family in your 30's. 20's is for fun. Family = fun is over. No sleep, screaming kids, nagging wife, broke regardless of income etc. etc.