hondas123 Posted June 1, 2007 Share Posted June 1, 2007 1. Forget about getting the LGT. 2. As suggested start building your credit. Get a Visa/Mastercard and spend a little and pay it off. Whatever you do....DON'T IT CANCEL IT. A few months later get another card...use it....DON'T CANCEL THAT ONE EITHER. 3. Report your income to the IRS each year and file taxes. 4. Be responsible with your credit cards, pay on time, and pay your balances off. - The Mortgage Man Link to comment Share on other sites More sharing options...
LIZARD Posted June 1, 2007 Share Posted June 1, 2007 Does the phrase "upside down" mean anything to you? The only time you're "upside down" in a auto loan is if you try to trade it in early or you total it w/out gap insurance. If you plan on keeping it "till death do you part" you're never upside down, ya just might've paid too much. .02 worth of whatever. lizard. Stage2.5376, TDC ProTune,blah blah blahhhh and....Alky/H20 injection Link to comment Share on other sites More sharing options...
hondas123 Posted June 1, 2007 Share Posted June 1, 2007 The only time you're "upside down" in a auto loan is if you try to trade it in early or you total it w/out gap insurance. If you plan on keeping it "till death do you part" you're never upside down, ya just might've paid too much. .02 worth of whatever. lizard. So if I pay $100,000 for 1980 Ford Escort, I'm not upside down on my loan? - The Mortgage Man Link to comment Share on other sites More sharing options...
Underdog Posted June 1, 2007 Share Posted June 1, 2007 Well the price of the car was right on, if not a bit better than what I was expecting. I can't figure out how much I'll save by paying that extra amount each month but I feel like it at least offsets some of the inflated interest rate. All in all, I don't mind if I pay a bit more in the long run... Sometimes you have to sacrifice a bit to get what you really want. The Crimson Dynamo Link to comment Share on other sites More sharing options...
Hagarr Posted June 1, 2007 Share Posted June 1, 2007 Pay your % taxes! Link to comment Share on other sites More sharing options...
laz Posted June 1, 2007 Share Posted June 1, 2007 I personally am legal as can be with my goings ons....I just bought a car 2 days ago, and it just amazed me how quickly the loan process was and how they barely verified anything at all The bank or financial institution lending you the money have nothing to loose. The car is valued at XX amount of money. You don't pay then they know where you live and they will come out and take the car, end of story. If the car is wrecked, then that is what insurance is there for. It does not pay you, it pays the loan that you have. Only person that looses is the customer if something is to go wrong. I am in the middle of refinancing, and I have to mortgages for two different properties with the same bank. They are treating me like I just walked off the street and I have no history with them! I am not even getting any money of the refinancing, just reducing the amount of time, and they are still making me go through the hoops! I hate dealing with mortgage BS! X --- Link to comment Share on other sites More sharing options...
bmorrisj Posted June 1, 2007 Share Posted June 1, 2007 So if I pay $100,000 for 1980 Ford Escort, I'm not upside down on my loan? you're not upside down until the most you can get on a trade in is $50:lol: Link to comment Share on other sites More sharing options...
mr.c Posted June 2, 2007 Author Share Posted June 2, 2007 so lets pu tit this way i now have a co signer with a score of 700 so it can be a week or a month or a year who knows, i talked to my boss today, he is in no position right now to put m on payroll when it is just him and i working. once the crew gets bigger it will happen, i know its wrong but im 19 and atleast i work most people from my generation are whiny lil spoiled worthless kids who dont know how to do anything except ask their parents for allowance, co im proud of myself for atleast knowing i have traits that i can carry on even after i get my accounting degree. thanks everyone for giving their input i just got my first visa today and its just a $500 limit but its a start and i plan on spending no more than half and paying a lil the first month and then paying it off so that they atleast see i am making payments on time and i have a history. but now i need to focus on finding an 05 abp lgt limited with black leather... 5 spd of course but anyways thanks guys i will post a thread with pics once an lgt is mine..... I CANT WAIT!! Link to comment Share on other sites More sharing options...
laz Posted June 2, 2007 Share Posted June 2, 2007 Good start. It is also good that you are looking for a used one, and not a brand new one. Where are you located BTW? Good luck! X --- Link to comment Share on other sites More sharing options...
Scotty Posted June 2, 2007 Share Posted June 2, 2007 I work for the IRS. You should be getting a call from my friend, Monday morning. Link to comment Share on other sites More sharing options...
MIKEBRAVO Posted June 2, 2007 Share Posted June 2, 2007 And BTW, this kid's dilemma is why we need strong unions in this country. Please tell me your kidding. If you can afford College, you probably don't need to go. Link to comment Share on other sites More sharing options...
NSFW Posted June 2, 2007 Share Posted June 2, 2007 I can't stress enough how important a good credit score is.... a man only has 3 things: 1. his word 2. his balls 3. his credit score. That's four things. Link to comment Share on other sites More sharing options...
mr.c Posted June 2, 2007 Author Share Posted June 2, 2007 Good start. It is also good that you are looking for a used one, and not a brand new one. Where are you located BTW? Good luck! X i am located in sacramento, californiaand im glad scotty u work for the irs cuz now i have someones ass to kick if i get a call monday, i need practice before my next title fight;) Link to comment Share on other sites More sharing options...
robinlsb Posted June 6, 2007 Share Posted June 6, 2007 Please tell me your kidding. I am most certainly NOT kidding. Under the table hiring screws you and me in our current tax structure. I don't like subsidizing a contractor's rate of return. :mad: Let us suppose that YOU Mr. Bravo are responsible for all of this kid's costs to society that he cannot cover. He gets hurt on the job, no medical insurance. Who pays the emergency room? You do. He gets disabled on the job. Who pays SS dollars,the minimum. You do. He pays nothing for national defense. Who picks up the slack? You do. Starting to get the picture????? On the other hand, if he was in a union, he would be paid a living wage,have medical insurance,have a retirement plan and would not be a burden on society. The developer's costs would go up, but the costs would only be passed on to those who chose to do business with him. Sounds to me like a more efficient system to me. "Belief does not make truth. Evidence makes truth. And belief does not make evidence." Link to comment Share on other sites More sharing options...
rao Posted June 6, 2007 Share Posted June 6, 2007 Breaking the law is bad, I think most of understand that. How unions will make this better is the issue that eludes most of us. Rob IF YOU CARE ABOUT YOUR CAR YOU SHOULD NEVER DRIVE IT Link to comment Share on other sites More sharing options...
Earthworm Posted June 6, 2007 Share Posted June 6, 2007 Unions sure have helped GM and Chrysler over the past few years... NOT. American car companies just might be able to be competitive if it weren't for the high demands of the unions... Link to comment Share on other sites More sharing options...
robinlsb Posted June 6, 2007 Share Posted June 6, 2007 Breaking the law is bad, I think most of understand that. How unions will make this better is the issue that eludes most of us.d Wonder why the US Chamber of Commerce is against the plan? Because they like cheap labor and profits. This bastion, of legality, old tyme morals, and whatnot is against making it harder to hire illegal aliens. Why? Because their business plans DEPEND on cheap labor subsidized by you. Unions support their employees, and the cost of that is passed on to the consumer. Non union shops pass costs on to the government and to you, whether or not you consume their goods. In the non union scenario, you pay less up front. You pay on the back end through taxes. Cheap human labor accomplishes one thing. It discourages investment in new technology and hinders civilization. Ask me about how McDonald's some time, and how it is the worst run corporation in history. "Belief does not make truth. Evidence makes truth. And belief does not make evidence." Link to comment Share on other sites More sharing options...
TravisS Posted June 6, 2007 Share Posted June 6, 2007 The OP is on the right track at least, getting a co-signer. I was in a VERY similar situation. I was 18 when I bought my first car I was getting paid under the table (only ~$10k / year at that) I had no credit history (seriously, it was like 2 paragraphs) But I bought a brand new 2001 Accord Coupe, thanks to having my dad as a co-signer. I paid off that car, got other credit while doing that (credit cards, cell phone, etc...) and when I got my Legacy I did so under my own name, and at a 6.25% interest rate. Link to comment Share on other sites More sharing options...
Scotty Posted June 6, 2007 Share Posted June 6, 2007 i am located in sacramento, californiaand im glad scotty u work for the irs cuz now i have someones ass to kick if i get a call monday, i need practice before my next title fight;) My first punch will come from a 169 gr. Sierra Matchking HPBT at 2700 fps. I like to see you stop that. Link to comment Share on other sites More sharing options...
robinlsb Posted June 7, 2007 Share Posted June 7, 2007 Unions sure have helped GM and Chrysler over the past few years... NOT. American car companies just might be able to be competitive if it weren't for the high demands of the unions... Shows what you know. Labor costs in Japan are higher than the US. Honda,Toyota, Nissan, BMW, Porsche ETC are all unionized. How come they are doing well??? Management Maybe?????????? Average Toyota worker makes 36K per year (unionized) plus bonus which can be equal to 2-3 month's of pay "Belief does not make truth. Evidence makes truth. And belief does not make evidence." Link to comment Share on other sites More sharing options...
rao Posted June 7, 2007 Share Posted June 7, 2007 Unions = success very interesting, who'd have thought there was not just correlation but direct, absolute causation Rob IF YOU CARE ABOUT YOUR CAR YOU SHOULD NEVER DRIVE IT Link to comment Share on other sites More sharing options...
mr.c Posted June 9, 2007 Author Share Posted June 9, 2007 and its a good job while im a full time college student Link to comment Share on other sites More sharing options...
godwhomismike Posted June 9, 2007 Share Posted June 9, 2007 you should delete post #51 - it's something that is better not being posted on the net. . Link to comment Share on other sites More sharing options...
edkwon Posted June 9, 2007 Share Posted June 9, 2007 forget buying a nice car like the LGT right now, just use your cash to buy cheap beater car or keep the one you already have until you get older, get a proper job where youre not being paid all shady and build up a credit history. apply for some starter credit cards is a good way to start. seriously its just a car and you haveclearly moreimportant priorities in your life to sort out first. i know at the age of 19 getting an LGT seems like the most important thung in the world but trust me, its far from it. finish school first then think aout a nicer car, dont forget, if youre stretching jus to buy the car now, dont forget theinsurance as well. youre better saving that money and invesing what you dont use to pay for school in some good long term mutual funds, then you can those out in 10-20 years and look much smarter than your friends who wated their money buying sports cars while in school. Link to comment Share on other sites More sharing options...
gfxdave99 Posted June 10, 2007 Share Posted June 10, 2007 all i kniw is its not cheap for my boss to keep me working i make an annual income of $30,720 whichm is not bad for a 19 yr old i would think. but i dont blame myself for shoosing to work under the table considering otherwise i would have to compete with no life old men who didnt go to college to get a job that pays half of what i am paid Welcome to English as a 2nd language. If everything seems under control, you're just not going fast enough. - Mario Andretti Link to comment Share on other sites More sharing options...
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