Captain Hindsight Posted September 1, 2012 Posted September 1, 2012 My 13 year old car was due for an inspection last month so I took it in. Not good news, looking at 2300 bucks at least to get it to pass inspection, plus brakes, a few belts and rotars were getting near the end of their life. Called my financial advisor/father and we decided it was best to get a new one. So I drove home today went to the car dealer and got myself a new silver Toyota Corolla Got a good deal on it too and got 2500 for my old car plus the college graduate discount (2 grand) I feel like a big kid now
Nanker Posted September 1, 2012 Posted September 1, 2012 Well, congratulations on your first pair of big boy pants! Enjoy the smell of your new car. It's intoxicating and one that you should revel in. Also, try to get laid in it. You'll never forget it. Cheers!
Just Jack Posted September 1, 2012 Posted September 1, 2012 If it's a lease, resist the urge to drive anywhere and everywhere. Those miles add up quick. Don't be like a former boss of mine who had to park his car 2 months before the lease ran out so he wouldn't go over the mileage allowence.
Captain Hindsight Posted September 1, 2012 Author Posted September 1, 2012 Gratz Why did you lease instead of buy? Because Im an intern preparing to start grad school My father thought it was a better decison for right now too. Since he is my banker at the moment, i tend to fallow his advice If it's a lease, resist the urge to drive anywhere and everywhere. Those miles add up quick. Don't be like a former boss of mine who had to park his car 2 months before the lease ran out so he wouldn't go over the mileage allowence. Im going to be careful. I figure ill do the same thing i do with my money, always have in my head that i have 100 bucks less than I actually do. Its a great way to not overspend actually
/dev/null Posted September 1, 2012 Posted September 1, 2012 My father thought it was a better decison for right now too. Since he is my banker at the moment, i tend to fallow his advice Just curious. And I totally understand your Dad as your banker. I was in the same situation when I got my first car. Except I had enough money in the bank to buy the car but my Dad had me sign up for a car loan to establish credit. He made sure I wrote the check out myself every month so that I got used to the concept of monthly bills. After 6 months or so I he told me to drive him to the bank where I paid off the loan. Is the lease in your name alone or jointly with a parent? If it's yours alone, you've taken an important step in establishing credit. Just be sure you don't miss or are late on any payments Im going to be careful. I figure ill do the same thing i do with my money, always have in my head that i have 100 bucks less than I actually do. Its a great way to not overspend actually Another way to not overspend is to learn delayed gratification. If you see something you want to buy, don't buy it right away. Wait a couple days or a week. Then check your bank account to be sure you have enough money. Then wait another day or two and ask yourself if you still want the item that you've lived a week without
Captain Hindsight Posted September 1, 2012 Author Posted September 1, 2012 Just curious. And I totally understand your Dad as your banker. I was in the same situation when I got my first car. Except I had enough money in the bank to buy the car but my Dad had me sign up for a car loan to establish credit. He made sure I wrote the check out myself every month so that I got used to the concept of monthly bills. After 6 months or so I he told me to drive him to the bank where I paid off the loan. Is the lease in your name alone or jointly with a parent? If it's yours alone, you've taken an important step in establishing credit. Just be sure you don't miss or are late on any payments Another way to not overspend is to learn delayed gratification. If you see something you want to buy, don't buy it right away. Wait a couple days or a week. Then check your bank account to be sure you have enough money. Then wait another day or two and ask yourself if you still want the item that you've lived a week without As of right now I'm listed as the "buyer". The only way my Dad would join the lease was if he needed to be on it so I got all his car insurance benefits. (We have 5 cars so hes got all sorts of perks on there) I do that delayed gratification alot. Its a real good test of your self control too haha
spartacus Posted September 2, 2012 Posted September 2, 2012 As of right now I'm listed as the "buyer". The only way my Dad would join the lease was if he needed to be on it so I got all his car insurance benefits. (We have 5 cars so hes got all sorts of perks on there) I do that delayed gratification alot. Its a real good test of your self control too haha tell your dad he is nuts to have any of his kids on his car insurance irresponsible kids and the related pending liability from stupid acts should be on their own
McBeane Posted September 2, 2012 Posted September 2, 2012 tell your dad he is nuts to have any of his kids on his car insurance irresponsible kids and the related pending liability from stupid acts should be on their own Not all kids are irresponsible and are a pending liability for stupid acts
BillsFanM.D. Posted September 4, 2012 Posted September 4, 2012 I feel like a big kid now Congrats. Sounds like you're 'cousin' may have guided you a bit here as well. Enjoy!
SageAgainstTheMachine Posted September 4, 2012 Posted September 4, 2012 Well, congratulations on your first pair of big boy pants! Enjoy the smell of your new car. It's intoxicating and one that you should revel in. Also, try to get laid in it. You'll never forget it. Cheers! Just don't do these things in reverse order. Or maybe...hmm. I'm torn.
Captain Hindsight Posted September 6, 2012 Author Posted September 6, 2012 After a semi heated debate today at the dealership and my financial advisors realization they were trying to screw this 24 year old kid, I now have a 3 year lease, for $104.38 a month. Pretty much like stealing actually
BuffaloBill Posted September 6, 2012 Posted September 6, 2012 After a semi heated debate today at the dealership and my financial advisors realization they were trying to screw this 24 year old kid, I now have a 3 year lease, for $104.38 a month. Pretty much like stealing actually Have fun...
Fezmid Posted September 6, 2012 Posted September 6, 2012 After a semi heated debate today at the dealership and my financial advisors realization they were trying to screw this 24 year old kid Don't take this the wrong way, but at 24, shouldn't you be able to figure that out yourself...? Since you post here, I assume you know how to use the Internet and can research what you should be paying for a car, no?
Dante Posted September 6, 2012 Posted September 6, 2012 (edited) After a semi heated debate today at the dealership and my financial advisors realization they were trying to screw this 24 year old kid, I now have a 3 year lease, for $104.38 a month. Pretty much like stealing actually That's cheap driving. Good job! Edited September 6, 2012 by Dante
Captain Hindsight Posted September 6, 2012 Author Posted September 6, 2012 Don't take this the wrong way, but at 24, shouldn't you be able to figure that out yourself...? Since you post here, I assume you know how to use the Internet and can research what you should be paying for a car, no? I had an idea of what i was doing, but I have zero credit right now so I needed my parents. I trust them to do whats best for me. The same deal was set for my brother and sister
Beerball Posted September 6, 2012 Posted September 6, 2012 tell your dad he is nuts to have any of his kids on his car insurance irresponsible kids and the related pending liability from stupid acts should be on their own Thanks, this just proves it for me. I had an idea of what i was doing, but I have zero credit right now so I needed my parents. I trust them to do whats best for me. The same deal was set for my brother and sister And you'll do the same for your kids someday.
DC Tom Posted September 6, 2012 Posted September 6, 2012 After a semi heated debate today at the dealership and my financial advisors realization they were trying to screw this 24 year old kid, I now have a 3 year lease, for $104.38 a month. Pretty much like stealing actually When a 24-year old who's leasing a new Corrola for the first time talks about his "financial advisors" (plural)...I hear "frat buddies."
Fezmid Posted September 6, 2012 Posted September 6, 2012 I had an idea of what i was doing, but I have zero credit right now so I needed my parents. I trust them to do whats best for me. The same deal was set for my brother and sister When I was 24, I went out and bought my own car... And did my own research... And got my own loan... I would never have dreamed about asking my parents to help me with that. Then again, my parents don't have the best track record when it comes to cars -- Pinto, Chevette, some crappy Kia thing...
Fan in San Diego Posted September 6, 2012 Posted September 6, 2012 My Dad's car advice and financial help was to get a job and pay for it yourself. Which I did. I paid cash for my first car.
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