Absolute worst experience ever
Damn man I knew you were super pumped when I talked to you at the dealer. I was wondering why the car was still sitting here. I bet you will be driving an evo in no time. Btw if you ever need to get your evo fix let me know I can let you drive my car 
I don't see anything wrong with him relying on his dad for a loan. It takes time for a person to build credit, especially for good enough credit for 0% financing. If he is paying the loan that is all that matters. He gets credit(if its joint) and gets the car, its a win win situation.
As far as the insurance goes, agents list more experience drivers as the primary driver all the time.
As far as the insurance goes, agents list more experience drivers as the primary driver all the time.
Originally Posted by Warrtalon
When you have to rely on your father for both the loan AND the insurance, you know you have no business buying such a car. Also, listing your dad as the primary driver when he's not the primary driver is insurance fraud. If you get in a wreck that is your fault, and Farmer's Insurance finds out that you really are the primary driver, your father could get dropped completely. Taking shortcuts to make up for not having enough money to do things properly is not recommended, so keep that in mind.
Originally Posted by alpineracer
that is with farmers insurance. we listed my dad as the main driver though so taht we could get such a good rate. Hopefully i am still able to pick up my evo soon enough so that i wont have to cancel my insurance which i already paid for.
EDIT: Found the thread
- Click Here
Last edited by Arithmetic; Jan 23, 2006 at 08:41 AM.
Originally Posted by r3z0nate
I don't see anything wrong with him relying on his dad for a loan. It takes time for a person to build credit, especially for good enough credit for 0% financing. If he is paying the loan that is all that matters. He gets credit(if its joint) and gets the car, its a win win situation.
As far as the insurance goes, agents list more experience drivers as the primary driver all the time.
As far as the insurance goes, agents list more experience drivers as the primary driver all the time.
Don't know where you got the insurance thing. It's fraud and is very bad. It only works that way if there are more people than cars. If there's an extra car, then the parent can't be primary on both the regular family car AND the kid's car. Read what Arithmetic said...
Originally Posted by Warrtalon
When you have to rely on your father for both the loan AND the insurance, you know you have no business buying such a car. Also, listing your dad as the primary driver when he's not the primary driver is insurance fraud. If you get in a wreck that is your fault, and Farmer's Insurance finds out that you really are the primary driver, your father could get dropped completely. Taking shortcuts to make up for not having enough money to do things properly is not recommended, so keep that in mind.
Im fairly certain that as long as he's listed as a driver, he'll be OK.....but I dont know for a fact
Just the same, your father keeping records of his own credit isn't how credit score is judged....I honestly feel there is somethin he's not telling you....
A credit report is done on everyone who uses credit cards or loans, Equifax etc.....the credit score is tracked by your SS#, personal records have little to do with anything. They should look it up fairly easily....your dad might not have good credit, or be concerned about you having the car. Just a thought. good luck just the same
Originally Posted by Ike
I'd love to know what a 19 year olds idea of making "more than enough money" to afford a 30k+ car is.
when I was 19 I was making over 40k living with 2 people. Paying for the evo was never a problem.
are you saying that because your father didn't file taxes in 2004 he can't get the loan?
Originally Posted by alpineracer
So if you have read my post about getting a white gsr you know i was pretty pumped on that. Well, i am 19 and have no credit. I make more than enough money to aford this car, but have no credit. My dad on the other hand, has credit. My dad is not the best record keeper. Long story short, after i had ben handed the keys and all was good (or so i thought) the finance guy comes out and is like hey i need to talk to you. So it ends up that since my dad did not keep good enough records in 2004 he could not be approved for the loan 
However he had brought in proof of income from 2004 and 2005 which was enough income to be approved but the finance guy said that he had to file his taxes first. So i am still getting this car, i am more determined than ever now, i just have to wait for my dad to fill out his taxes and all that fun stuff. On a better note, this time around i think i am going to get the model that i really want, the mr, or the rs, whichever one the dealer can find in white first (hoping for the mr 
) So i hope that none of you ever have to go through what i have gone through the past few days. JUst imagine having to give back the keys for your car, nothing compares to that.
However he had brought in proof of income from 2004 and 2005 which was enough income to be approved but the finance guy said that he had to file his taxes first. So i am still getting this car, i am more determined than ever now, i just have to wait for my dad to fill out his taxes and all that fun stuff. On a better note, this time around i think i am going to get the model that i really want, the mr, or the rs, whichever one the dealer can find in white first (hoping for the mr ) So i hope that none of you ever have to go through what i have gone through the past few days. JUst imagine having to give back the keys for your car, nothing compares to that.
Evolving Member
Joined: Aug 2005
Posts: 227
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From: Cupertino, Ca
Originally Posted by Warrtalon
It's comments like this that make kids think it's ok to go out and purchase/drive a $30+k race car without even thinking twice. Yes, building credit with a parent as a co-signer is good. No, doing it on an expensive, dangerous car is not the way to do it. I built my credit using my parents as co-signers on an $8000 Cavalier that I paid off on my own within 2 years then was able to make my next purchase on my own easily at the age of 19. This is what he should be doing, not buying a car that will cost him nearly $1000/mo combined for insurance, loan, gas, and maintenance.
Don't know where you got the insurance thing. It's fraud and is very bad. It only works that way if there are more people than cars. If there's an extra car, then the parent can't be primary on both the regular family car AND the kid's car. Read what Arithmetic said...
Don't know where you got the insurance thing. It's fraud and is very bad. It only works that way if there are more people than cars. If there's an extra car, then the parent can't be primary on both the regular family car AND the kid's car. Read what Arithmetic said...