- Apr 11, 2001
- 9,352
- 23
- 91
so im 19, have a credit card (paid all bills on time) in good standing, and i also have a debit card. i currently drive a 2000 bmw 328i and im probably going to sell it to get something better. im pretty sure that i will get 11k-12k out of it and the rest would have to come out of pocket. i was looking at buying a used bmw z4 or a used m3, so at the end, i would have to pay around the same as what i got for my car.
now i was thinking of several options about paying for this. i would want to ask my dad to spot me until i can repay him back totally by the end of next summer (when i amass enough money), but i dont think he will. he thinks that my current car is good enough and he absolutely howls at the idea of buying someone else's used car. actually, when i told him that i wanted to sell the car, he was fine with it, but he gave me a speech on why my car is "so good", but anyways.
my second option would be for me to get a used car loan...if i ever would get approved. how much would i have to pay monthly if i did get a loan? i hear that banks are terrible for auto loan rates and that...i think it said credit unions (not too sure) are much better in terms of getting a nicer deal with a much nicer interest rate.
my third option would be to get a less expensive car, but then i feel like i am downgrading/sidegrading. not that i have anything against any other car manufacturers, but i would rather move on up, you know?
what should i do? i was thinking about visiting my banks sister company, citifinancial to ask if they do used car loans and if i could get approved. since im 19, i dont have to have my parents come with me to sign/do all this potential paperwork do i?
TIA!
now i was thinking of several options about paying for this. i would want to ask my dad to spot me until i can repay him back totally by the end of next summer (when i amass enough money), but i dont think he will. he thinks that my current car is good enough and he absolutely howls at the idea of buying someone else's used car. actually, when i told him that i wanted to sell the car, he was fine with it, but he gave me a speech on why my car is "so good", but anyways.
my second option would be for me to get a used car loan...if i ever would get approved. how much would i have to pay monthly if i did get a loan? i hear that banks are terrible for auto loan rates and that...i think it said credit unions (not too sure) are much better in terms of getting a nicer deal with a much nicer interest rate.
my third option would be to get a less expensive car, but then i feel like i am downgrading/sidegrading. not that i have anything against any other car manufacturers, but i would rather move on up, you know?
what should i do? i was thinking about visiting my banks sister company, citifinancial to ask if they do used car loans and if i could get approved. since im 19, i dont have to have my parents come with me to sign/do all this potential paperwork do i?
TIA!
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