Car for a teen?

[Speed Weed]

2 hours ago, pinksnowbirdie said:

Oh lmao not really kek
I only make $11/hr rn and so far I seem to get around 30 hours on average, though I expect that to go to around 40 hours and maybe up to $13/hr in a couple months if I stick with this place. lol

 

Im just getting the luxury of not having many bills to pay rn lol

Try your best to stay debt free because you will regret of going into debt. 

[Amazonsucks]

2 hours ago, Speed Weed said:

Bugatti is nice, but not a lot of us will not going to own one, and your friends and family members will going to bitch you for your money. 

 

I would get a Corvette or Nissan GTR because these two are in super car class. 

Bugatti is in the hypercar class though.

[Speed Weed]

15 minutes ago, Amazonsucks said:

Bugatti is in the hypercar class though.

Same to me because all hypercars are supercars. I know I ain't getting the bugatti with my sorry ass life. 

[vong]

What's with kids wanting Euro/luxury cars for their first these days? Is it for status? My sister got an Audi A4 1.5 years ago and now wants to sell it because parts are expensive and so are services, not only that but the equipment and quality are just not there to justify their price (mind you we're in Australia so Euro cars are stupid expensive.) Resale is also ridiculous.

 

If you want a Euro car then I'd recommend something from Volkswagen, they have some very sleek cars out.

[handymanshandle]

54 minutes ago, Speed Weed said:

Try your best to stay debt free because you will regret of going into debt. 

that's why Im making sure I have a larger than average down payment.

[handymanshandle]

33 minutes ago, vong said:

What's with kids wanting Euro/luxury cars for their first these days? Is it for status? My sister got an Audi A4 1.5 years ago and now wants to sell it because parts are expensive and so are services, not only that but the equipment and quality are just not there to justify their price (mind you we're in Australia so Euro cars are stupid expensive.) Resale is also ridiculous.

 

If you want a Euro car then I'd recommend something from Volkswagen, they have some very sleek cars out.

it is status lmao
kinda dumb tbh

I agree though if youre set on euro, the VW Jetta is like a baby Audi

[Speed Weed]

2 minutes ago, pinksnowbirdie said:

that's why Im making sure I have a larger than average down payment.

Save money then pay in full. Don't borrow car loan, but if you do borrow car loan make sure you pay it off no less than 5 years. Normally, I wouldn't go 5 years car loan. Max for me is 2 years. 

[GDRRiley]

get a cheap late 90s or early 2000s car. 

 

Civic and similar are super cheap to work on and are 2-3K for a one in decent shape. 

[Cereal5]

Audi is very hit or miss with their engines. Repairs are expensive. Mercedes tend to be more reliable, but even more to repair. BMWs are good as well, not as terrible as Mercedes on the repairs budget, but also not as high class. Strong recommend on the 3 series though. As far as Japanese cars, I would highly recommend them over German. Parts will be considerably less expensive (even though there is a mark up for the name sometimes). Lexus is one of the most consistently highest reliable brands out there. Pretty can't go wrong with any models. An IS or ES will be your best options. For Infiniti, probably the Q50. If you want an American car, Cadillac and Lincoln will be your best bets. The Cadillac CTS has been a popular car since it's release, and has good engine options. ATS and XTS get an honorable mention. For Lincoln, the MKZ is basically their go to sedan, with the MKS being basically the same thing, maybe a bit smaller. Pretty much all cars mentioned have many engine selections, so you can pick your balance of fuel economy and power (though if you're paying for gas/having the car for a long time you might want better economy). All cars mentioned have their pros and cons, but all will have good interiors. Obviously Japan takes the cake for reliability (though surprisingly Lincoln isn't too far behind).

 

Hope this helps (I know you already picked a best answer)

[handymanshandle]

9 hours ago, Speed Weed said:

Save money then pay in full. Don't borrow car loan, but if you do borrow car loan make sure you pay it off no less than 5 years. Normally, I wouldn't go 5 years car loan. Max for me is 2 years. 

>Paying $24,000 in cash for a car

 

Funny yeah, no. I personally would go for 60 months and pay more when I can to get done with it sooner.

 

[JonT.]

17 hours ago, sk3let0nz said:

Hello, all. I have come across this forum to ask about which car I should get as a teen driver. I am 16 years old and in process of purchasing a vehicle in about a week or so. Here are 2 choices I've been going with, a used 2017 Infiniti Q60 or a used 2018 Mercedes CLA 250. 

 

*I will pay about half of the costs from the money I've accumulated from over time.

I will not write a long story here, none of these cars are not for you. Try to buy a or b segment car.

[Speed Weed]

1 hour ago, pinksnowbirdie said:

>Paying $24,000 in cash for a car

 

Funny yeah, no. I personally would go for 60 months and pay more when I can to get done with it sooner.

 

You are making a bad finance decision. 60 months loan is like a house mortgage loan, and car is not very reliable compare to a house. Let's say the car cost $24k in cash minus tax, and you choose 60 months payment which will going to put you $34 - 40k total with interest rate, so you are paying more than you are suppose to with a loan. Why borrow car loan when you can choose 60 months to save up to $24k to buy a car. Second is if you don't like the car, and you want to trade the car for a new car. Well, you are still going to pay off the loan on the car you are willing to trade in. What you are doing is adding more debt on top of debt. 

[Drak3]

5 minutes ago, Speed Weed said:

Why borrow car loan when you can choose 60 months to save up to $24k to buy a car.

Build credit.

[Speed Weed]

2 minutes ago, Drak3 said:

Build credit.

I rather pay full in cash or save money to the point I can pay full. Build credit doesn't mean a crap to me. You borrow loan, you are in debt period. 

 

 

[LinusOnLine]

Get a Volvo S60 R.

[Radium_Angel]

19 hours ago, sk3let0nz said:

Hello, all. I have come across this forum to ask about which car I should get as a teen driver. I am 16 years old and in process of purchasing a vehicle in about a week or so. Here are 2 choices I've been going with, a used 2017 Infiniti Q60 or a used 2018 Mercedes CLA 250. 

 

*I will pay about half of the costs from the money I've accumulated from over time.

BTR-60

Allow me to explain:

 

(1) It's armoured, so safe in an accident.

(2) It's big, so no one will run you off the road

(3) Seats 16, all your friends can ride along

(4) It's slow, no speeding tickets for you (50 MPH top speed)

(5) It's amphibious. Traffic jam? What traffic jam?

(6) It's cheap. About 15k$ (US) to buy, a little more to certify for road use

(7) Already street legal.

(8) Cheap to fix. It's soviet, designed for uneducated farmers to fix. 

(9) Theft Proof. 

(10) Gas or Diesel engine. Your choice.

 

 

 

[Radium_Angel]

1 hour ago, Speed Weed said:

which will going to put you $34 - 40k total with interest rate

You have no idea what you a talking about.

A 24k loan, even at 6% over 60 months is 27,839$ or just over 3k in interest.

 

[Drak3]

33 minutes ago, Radium_Angel said:

You have no idea what you a talking about.

A 24k loan, even at 6% over 60 months is 27,839$ or just over 3k in interest.

 

My $21K loan ended up being $25.5K at the end of 60 months. There's alot of factors.

 

If he's getting that much interest, is juat means he has the worst credit possible, and that no one should ever give him money.

Edited November 2, 2018 by Drak3
Forgot a zero

[AngryBeaver]

23 minutes ago, Radium_Angel said:

You have no idea what you a talking about.

A 24k loan, even at 6% over 60 months is 27,839$ or just over 3k in interest.

 

That is closer to 4k in interest btw. Also that 6% in interest in 60 months makes you pay about 17% more of the total value of the car... so almost 1/5 more in cost.

 

That being said 6% is pretty high. I normally pay 2% or lower on interest from my credit union. Think my last car was 1.6% interest on a 36m loan

 

So in comparison at 1.6% and 36 months... I would pay $596 in total interest. Now my monthly payment would be about $200 higher lol.

[Radium_Angel]

17 minutes ago, AngryBeaver said:

That is closer to 4k in interest btw. Also that 6% in interest in 60 months makes you pay about 17% more of the total value of the car... so almost 1/5 more in cost.

 

That being said 6% is pretty high. I normally pay 2% or lower on interest from my credit union. Think my last car was 1.6% interest on a 36m loan

 

So in comparison at 1.6% and 36 months... I would pay $596 in total interest. Now my monthly payment would be about $200 higher lol.

My point still stands, even at a bad interest rate it's nowhere near 34-40k

[AngryBeaver]

3 minutes ago, Radium_Angel said:

My point still stands, even at a bad interest rate it's nowhere near 34-40k

Well if you are buying a user car and use dealer financing or it is a first time loan with no credit... then those interest rates can easily hit 19+%  So in that case you would be paying a hell of a lot more than yo should for the car. The problem with a 60 month loan is that unless you make a pretty good down payment you are basically backwards on your loan the moment you drive off the lot.

 

There is nothing worse than having a car that is worth less than what you owe on it.

[Speed Weed]

1 hour ago, Radium_Angel said:

You have no idea what you a talking about.

A 24k loan, even at 6% over 60 months is 27,839$ or just over 3k in interest.

 

You have no idea what the dealerships have under their sleeves. They will try to drain your money as much as possible. The dealership is the the devil. My dad has a good credit, and he borrow 2 years loan to buy me a $9k 2008 Nissan Sentra with 27k miles, and at the end the total he pay off is $14k. You also to forgot to pay taxes, so it is not $24k flat. $24k + taxes ( 1k - 2k) + loan with interest rate. 

[Radium_Angel]

1 hour ago, Speed Weed said:

You have no idea what the dealerships have under their sleeves. They will try to drain your money as much as possible. The dealership is the the devil. My dad has a good credit, and he borrow 2 years loan to buy me a $9k 2008 Nissan Sentra with 27k miles, and at the end the total he pay off is $14k. You also to forgot to pay taxes, so it is not $24k flat. $24k + taxes ( 1k - 2k) + loan with interest rate. 

Dunno where you are but taxes around here are nowhere that high. If you are in Europe all bets are off but your numbers are still waaaaaay too high

[Speed Weed]

9 minutes ago, Radium_Angel said:

Dunno where you are but taxes around here are nowhere that high. If you are in Europe all bets are off but your numbers are still waaaaaay too high

FL. Eastern US. 

[bimmerman]

I'd go for a cheap car with good safety ratings and proven reliability.

 

Camry, Civic, Accord, Corolla, etc. Cheap to buy, cheap to insure, cheap to fix, cheap to run, and a premium put on occupant safety. Not super fun, but it's a first car.