[Supra_Gibby]

Hello everyone,
I am currently trying to take out a loan for a MKIV but I wanted to hear some of your opinions on what I can do. I want to go take out a 25k loan for a MKIV TT ( I want a stock one also). I know your probably thinking why and how are you planning to do it. Well first I am trying to take out this loan b/c a MKIV has been my dream car since 96, when I saw one cruising around Hawaii. I tryed to fix my addiction for the supra with a FD but that didnt work out so well so I ended up selling it and bought a daily driver. Anyways my situation is that I have 2k in my bank account now (just got done paying off the CC and I have about 4 years in credit), a GSX Eclipse (payed off of course so thats around 6k), and 23k in mutual funds. So basically I have the money but I would really like to not touch my mutual funds. Anyways I wanted to go ahead and take out a loan and maybe use my mutual funds as collateral. Do you guys think this will work in my situation? Currently I am employed at Best Buy as a Comp tech and make 10.70 a hour so I get about 30-40 hours a week and about 600-700 dollar paychecks depending on how much I work, Usually by the end of the month I usually have ~1k to play with after paying my insurance , cable and random other things such as food. Well anyways do yall think my currrent situation is sufficent enough to take out a loan? I would really like yalls feedback. Thanks for your time reading this and have a nice day .

 

[mifesto]

thats kinda tight in my opinion your pulling in 1400 a month, u can afford it but its abit tight. ur really maxing out ur funds as soon you need a new clutch, new tires etc, your going to be in trouble. my opinion is if u still want a hot car, maybe go for something that has less miles and age and just dont beat it to the ground (g35, 350z, evo, sti, rx8 etc etc)

 

[TVO]

A $25K payment is around $400-$450 a month, for 5 years... I don't think it's a good idea, like mifesto states maintenance is not cheap, not to mention the itch for mods.

The extra $1K you have extra will be eaten up real quick with the car payment and insurance.

My advice is to wait, it took me over 7 years to finally get a MKIV TT. Mostly due to finances and waiting for the right one to come around (price and condition).

Good Luck!

 

[Ckanderson]

bro... you NEED to find a job that pays more... I just got a job that pays about 6-7k a month and im THINKING of getting a STI (about 32k) make SURE you have the extra cash bro

 

[lightxx]

getting a loan for a car is the gayest thing evar.

 

[Troux]

getting a loan for a car is the gayest thing evar.

How so? It's perfect for me. I get to own one of my dream cars, and I get a long-term (5 year) loan that I wanted, and by the time it's payed off, my credit will be outstanding, and right around the time I'll be looking to buy a home. What's your problem?

 

[lightxx]

well actually its no problem for ME. but if i was you I'd get my priorities rearranged. a car is the last thing i'd buy, if i had no home.

still, if you take out a loan and total your car and your insurance won't cover it for whatever reason you re fucked twice, with both your car and your money being gone.

just my $.02

 

[HotSoup]

getting a loan for a car is the gayest thing evar.

most people on here are normal everyday people that work hard for what they have. I have a loan on my car, as well as others I am sure. Not everyone on here is celebrity or wealthy, and the statement like you make is where the term "snob" comes from. Good for you that you can buy a car in cash without a loan, want a fucking cookie?

Jason

 

[lightxx]

i'm sorry if i sounded snobbish. that wasn't my intention. i just think its gay because 1.) there are more important things than taking out a loan for a car if you haven't even got a somewhat decent house yet. 2.) you risk losing everything if you don't pay a shitload of money for an insurance that offers all-around coverage.

 

[Ball Bearing Supra]

getting a loan for a car is the gayest thing evar.

What kind of crack are you smoking?

The average person cant simply drop 20-30K for a car. Come out of your supraforums post reading dream world. However i did pay cash for my Z and my supra but this is not the norm. To suggest its (gay) to take out a loan for a car is as you said the (gayest thing ever).

 

[lightxx]

ever heard of overindebtedness? that kid is making 1400 a month and you guys tell him its a great idea to take out a loan for a supra???

yeah whatever. i just made up my mind. its actually a great idea to take out a loan for your car, than another loan for your tuning parts and prolly a third loan to be able to pay back all those loans. fuck that some people are really ignorant and shortsighted as fuck.

 

[Ball Bearing Supra]

ever heard of overindebtedness? that kid is making 1400 a month and you guys tell him its a great idea to take out a loan for a supra???

yeah whatever. i just made up my mind. its actually a great idea to take out a loan for your car, than another loan for your tuning parts and prolly a third loan to be able to pay back all those loans. fuck that some people are really ignorant and shortsighted as fuck.

that kid is making 1400 a month and you guys tell him its a great idea to take out a loan for a supra???

Are you stupid?..... you said its dumb to take out a car loan PERIOD get some reading and comprehension skill there sport.

i just made up my mind. its actually a great idea to take out a loan for your car, than another loan for your tuning parts and prolly a third loan to be able to pay back all those loans

You're an idiot.

fuck that some people are really ignorant and shortsighted as fuck.

Yes you are.


Good luck,

 

[lightxx]

you don't even try to comprehend what i just wrote, right?

 

[Boostrush]

ever heard of overindebtedness? that kid is making 1400 a month and you guys tell him its a great idea to take out a loan for a supra???

yeah whatever. i just made up my mind. its actually a great idea to take out a loan for your car, than another loan for your tuning parts and prolly a third loan to be able to pay back all those loans. fuck that some people are really ignorant and shortsighted as fuck.

How about letting the kid think for himself. He probably has parents, he doesn't need another one. I rake in decent money per month and still took a loan out on my Supra. Time value of money... that's all you need to know.

Nobody here was saying that it's a great idea to take out a loan, maybe you should re-read the question that he asked. :1poke:


Supra_Gibby, try Capital One Auto Finance for your loan. They don't have a limit on the age of the car one is trying to purchase and they offer decent rates.

 

[TiWo2.0]

I am employed at Best Buy as a Comp tech and make 10.70 a hour so I get about 30-40 hours a week and about 600-700 dollar paychecks depending on how much I work

Not to call you a liar or anything... BUT there is no way you make $600-$700/week at $10.70 an hour, working only 30-40 hours. (Or do you get paid every-other week?) I myself make over $14/hr and just barely clear 700 at 5 hours overtime. I'd say you make about $350/week. take home.

If you want to hear my opinion, don't live beyond your means. Taking out huge loans for a car is just plain irresponsible. My advice is to work hard and save up for it, you'll be better off in the long run.

But hey, what the hell do I know, I own an MKIII...
:bigthumb:

 

[mifesto]

the truth hearts supra_gibby but u my friend cant afford such a car. i can bet money u can afford it (barely), sell it as soon as time starts getting tough.

 

[onelove]

Keep in mind you are buying a 10 year old car that was 50k new. Most people don't think about this when purchasing the car. They are very reliable, however they also can be tempermental and when small things or large things break they can hit your bank account quite hard. This is well before you get the bug to modify the car. If you think you can afford it, build in some cushion for a rainy day and see if you can really afford it, I'd had to see another Supra purchase because someone wanted to live a dream before their financial means could support it.

 

[terry McCamie]

As quoted check out some Toyota parts prices not to mention after market parts prices.Touota is outrageous ,just go to your local dealership and ask prices for a starter,fuel pump,alternator ,belts,coil packs,things that are going to need to be replaced because of wear.You will be shocked at the prices compared to any domestic .I recently spent $35 on bolts and plastic clips for some things that just fell off the car or wore out.
If you need to ask if you can afford this car ,YOU CAN`T !!!!!!!!!!!!

 

[lightxx]

:bigthumb: :bigthumb: :bigthumb:

If you want to hear my opinion, don't live beyond your means. Taking out huge loans for a car is just plain irresponsible. My advice is to work hard and save up for it, you'll be better off in the long run.

 

[Danny271]

ever heard of overindebtedness? that kid is making 1400 a month and you guys tell him its a great idea to take out a loan for a supra???

yeah whatever. i just made up my mind. its actually a great idea to take out a loan for your car, than another loan for your tuning parts and prolly a third loan to be able to pay back all those loans. fuck that some people are really ignorant and shortsighted as fuck.

Just like a business, there is an optimal debt/capital ratio for people.