HOLY crap 29%? i thought i got boned with 7.56%!! on my EvoIX
Build up your credit, get a Secure card [deposit money into the card] till you can get aproved for a Credit limit $500-1k dont keep it maxed, stay about 40% on it use it pay it, continue for a few recheck credit score. You want 650+ Score now adays for a DECENT and i say decent loan.
712+ will get you the best, cause banks are WAY more leary to lend out cash with less credit in this econmy. I had a similar issue cause i short sold my house, and i have also NEVEr had one single credit card in my life and im 30 years old, also never had a car payment till my evo.
I always said if you cant pay it cash, you cant afford it.

 

Need for personal finance > Need for evo; especially at 29% and the young age of 18 my brother. Keep working be smart and the car will come; buy, a car you can't afford and you will find yourself in a world of trouble.

 

29% is scat... If you are seriously considering actually doing this, I would recommend checking out a credit union. Credit unions tend to give loans based on the person instead of basing everything on your credit score(it will still play a role though). Right after I joined the military at 19 I had ZERO credit history and they financed me for 17k at %5.5 for 60 months (5 yrs). Granted, the decision was probably based off of me being active duty at that time, and I had to put in a 1k security deposit on the loan as well as do direct deposit, but I have heard of people with **** poor credit/no credit getting loans from credit unions.

If you can't get anything through a credit union I HIGHLY recommend that you just wait, bide your time and take every extra penny you have and set it aside to use for a down payment in the near or far future. Trust me, jumping the gun on something just because you want it is idiotic. It's not worth it, unfortunately I had to learn this the hard way. Heck, I've been driving the same crappy lancer for the past 2 years and working on getting it, and all of my other debts paid off. It has seriously sucked, but I'm only about 6 months out from getting a brand new evo. Trust me, if you just have patience, it will be bittersweet when you finally achieve your goal.

Hope this helps.

 

oh, the impatience of youth

 

If you like it buy.you gotta pay to play. Yolo!! I did and i enjoy ever moment with the beast!!!

 

Yolo? No...just no... the phrase has been banned

 

lol that man has the right idea hahaha jk

this isnt just a outta no where "F**K IT IM GONNA GET AN EVO" trust me ive done over 500 calculations to confirm that i can financially handle this it just the trouble of getting the loan to be honest i want anything under 14% i can do comfortably i make exactly 1172$ a month
May the nerdy calculations begin
Monthly Income : 1,172$
Dsm Payment : 180$
Evo Payment @ 14% interest : 350$
Monthly gas : Roughly 200$
(i have no other worries as i live with my parents and college is going to be taken care of by my job) so that leaves me with 442$ a month for mods, maintenance or whatever (most likely will be spent to pay off the dsm faster (only 2000$ left to pay) ) i am also (80% sure) getting a 1$ an hour raise which calculates to near $140+ more a month after taxes

so what are your thoughts now that you see my numbers?

EDIT: I also have a backup job just incase somthing goes bad at my current one and i have to leave for some reason pays about the same

 

Dude wait. ****ing hold on. Stop. You only make roughly $1200 a month. Wow I wish you'd of said that.

No absolutely not. **** no. Just ****ing no. By getting this evo you're pretty much agreeing to not have a life and live with your parents for the remainder of the loan.

You also simply just dont make enough realistically. People who get evo's are people making at least $3000 a month. Thats what a bank is gonna tell you.

Stick with your dsm and love it. Save your money.

You need to be planning for living on your own, getting a higher paying job and or schooling for a career.

 

MFW I paid my Evo in cash and have other things going unlike op because I'm awsome.

 

its probly ban in your contry, but in america, its called freedom of i dont give a ****. To the op, your still young, if you can afford it, buy it, and enjoy the car. Refinance later down the road!! The evo will give you more motivation to work harder.

 

I can only reiterate at this point what everyone else has said but i am probably the most impatient person in the entire universe and i was there too. I bought a lancer oz rally instead (Back in 03) and due to my patience im on my second evo with 1.79% interest..trust me its so worth the wait.

 

How much is insurance?

 

88 a month

 

My first auto loan was 21% bc i alsowas afust time buyer no credit.after two months i refinanced with a credit union at 7.0 now i have 3.9 .as for insurance it depends on alot of factors ie area u live age tickets. But with an evo uoull be looking at 250 a month if not more since youwill haveto havefull coverage. Just get a beaterand save for afew years andpay cash. Cash is king

 

I agree with mostly everyone. I think it's best you build some credit first and then go for the car. It would be great to have the car, but not at the cost of breaking your back over it financially just to have it. Unless you really want it that bad. To add on that note, you're still young. Why rush it?