!!!!

he's bringing moms into it. it's on like donkey kong now.

 

OK guys..heres what I say. When I was 16 all I was worried about was having a half decent car that looked and sounded cool. It was a 1977 Cutlass with a 350 in it and I payed $1200 for it. The only thing I was interested in investing in was women, and beer.Magnum, take our advice, buy a used F150 for now. Have fun with it beat it up like all kids do when they first get there lisence and worry about something brand new in a few years.Plus..you will never get financed on 6 bucks an hour. Sorry, its the harsh truth. Like I said, have fun.

 

This kid couldn't get financing for his life making 13K a year. When I was 16, I bought a beater Ford Ranger, it took me darn near 10 years and 7 years of formal higher education to be able to afford my 04 Lariat. Which, I might say, is the best truck I have ever owned (owned 5 Ford trucks so far!)

Glad to hear everyone is enjoying their trucks, I love reading about all your rides!

 

On the contrary, I'm 23(Born in May 10 1980, Taurus), and I was extremely lucky to have my current job all thanks to my last two that were not great + allmost slight lack of work experience. With that fact alone, I hope to finally start getting my learners permit after I pass my first test(hopefully soon before winter makes it's nasty grip here in MD), and start taking courses in driving school.

...as for your guessitmate, very good. I was hoping for an XLT though, but hopefully I should price it a little wiser next time(knowing that the last time I did it, it came to $31,101! Not cheap, but certainly not fancy rich man's dinner bill-expensive).

 

MagnumZaibatsu,

Making approx $7.00 an hour is not going to get you approved for financing for a new truck. I'm not trying to put you down, I'm going to try save you from a possible bad situation. I deal with high risk loans every day. Trust me, buy what you can afford. There is nothing wrong with owning a used truck. Don't ruin your future credit rating just cause your ego wants to look cool. I've seen too many people get in to something they can't afford to have and then it get's repoed or you get sued.

 

Good point....The last time I tried to get a credit card this year, they read my record and it came to this:

Lack of Fund
Dlenquentcy(Spelling wrong??) on some bills(approx about maybe 3)
Lack of Credit History

...All this while my beloved father recent give me a reality check of sorts that credit cards are nothing more than a ripoff the companies use to take advantage of you and your hard earned dough, and to use it ONLY if you truly need for the things you only need, not something that you think you'll need until you realise that it wont be any good of a use for you.

So like I said, great point. Anyone else?

 

Magnum, why not get an earlier Lightning, if you can find one. That'll get you a 5.8, which should do plenty of burnouts. Insurance shouldn't be too bad for an older truck like a 1993. I would have to agree with everybody so far, it took me a long time (10 years) to build up my credit after a bankruptcy and divorce, (they kind of went hand in hand), and I am not about to risk having bad credit again, that period sucked. I got little help except from the people who like to charge 19-22% interest, so imagine that kind of interest on a new vehicle?

Just think very hard about it, and throw down the numbers several times. Peace

 

Explains your name don't it?

 

You guys were way off in age (well, 7 yrs. anyway). If I were you, I would start out with : Ford Focus, Ford Ranger, Toyota Prius, Ford Escape; you know stuff like that, then you could move up the ladder like I did. Good Luck findding a car.

 

LOL, as much as a would like to try them out jose, I'm a truck kind of guy. Cars to me are the WORSE kind of vehicles to invest on. They only take you from point a to b and that's that. Trucks on the other hand are better, you'll more than likely make mad money off of them by using them as tools for your small business purposes, plus they make great tools for moving and sometimes exploration in the woods when camping(4x4'ing).

Sportscars however...I may like a little, like the Viper(even chevy's 50 year old pearl of a beast), but the insurance, and mantinace costs on those would send me up the river, you know what I mean.

 

There is a commerical out that reminds me of this whole topic. the commercial shows a couple of cars with one guy in a BMW, that guy is working on a Friday night. The other cars ask him where he is going and says he has to work. Then they cut to a party and the door bell rings and it is the guy in BMW delivering pizza to the party and everybody looks at him like WOW!

Point is: If you buy something out of your range, you will be needing a second job to pay for it. I, along with many of the other members on this board, do not want to see you ruin the start to your credit history by buying a 32,000 dollar truck and defaulting because something else came up and you needed money.

As for financial advice: Credit cards are not to be used unless you can pay for the entire amount when the bill comes in (there is a few instances when this may not apply, but it is a good rule to live by).

Like others have said, if you do get a loan, it will be 19-22% interest; that on 32,000 will not be cheap.
I have gone through 2 starter cars till I could afford my 03 F150. And I am not trading that in for an 04 (even though I want one and the wife said I could get it) because I just bought a house.
Do the finacially smart thing, get a credit card that will take a deposit from you, like 250 dollars, this will build some credit if you follow what I said above. Charge 100 bucks and then pay it off. Credit card companies will flood you with offers once you start. Maintain only 2 credit cards max. And don't bounce around closing accoutns and opening accounts, it is all recorded on the credit history.

Good Luck,
Brian

PS: Get an older Lightning, or a mid-90's ranger if you want a modern truck. Or go real old school and fix it up like a mid-70's or a 56 F100.

 

The '04 is probably way out of your range for your current situation. My first car in 1992 was an '84 Buick Skyhawk ($1,500). Big piece of *****. Second car in 1995 was an 88 Pontiac Grand Prix ($6,000). Much nicer. Third car in 1998, was and still is until I get my F-150 is a '98 Ford Explorer ($30,000). Had help with this one financially.

When you're just starting out, you should probably get a piece of crap car. You won't care about looking cool, because your friends won't have anything cool either. You'll all just be happy you have cars. Plus, you're guaranteed to ding it up here and there. And at least if you ding up a crap car, you don't have to get it fixed. But if you ding up something new, you'll want to fix it. And you won't have any cash for that.

I didn't buy my Explorer until I was out of college for two years. This early in life, don't put all your cash into a brand new car. Not too far down the road you'll want a house, etc. And you don't want to live in the back of an '04 F-150.

I know a guy who had to have a new sports car. Had to have it. Well he then got his girlfriend pregnant and now they all live with his parents because he doesn't have enough money for a house.

Your time for a brand new vehicle will come.

 

1st car - 1972 VW Super Beetle (used)... $800... eventually sold
2nd car - 1989 Cheby S-10 (new)... $10k (or so.. can't recall exactly)... eventually traded in
3rd car - 1973 VW Bug (used again)... $500 (was used while in the Marine Corps... S-10 was back home)... eventually sold
4th car - 1994 Mustang GT Conv (new)... $28k (traded in the S10)... still have it
5th car - 2004 4x2 Lariat F150 SCrew... $36k sticker, $30k paid (A-Plan)

Ah... the nestalgia of the first car !!!!

 

Like I said, start ourt with something small and affordable, then move up the ladder. I highly recomend a Focus to start out first, strat out at about $13000 I think.

 

get a nice used ranger