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Financing for 17 year olds.

Just wait until you are 18 and then buy a car + insurance.

Really, you live in NYC. There is plenty of public transportation and everything you need in the city. I used to live in NY until I was five. Now I live in Connecticut where I have to drive 1/2hr on the highway just to find a decent restaurant or buy clothes. My town didn't have a McDonald's until 1997 and has a total of 5 stoplights.

Save for a used car. There is no sense in having to make car payments every month for a car that is likely to damaged being in the city and being driven by a young driver.

Where do you plan on driving to anyways out of curiosity?
 
I have to agree, why the hell do you need a car in NYC? I've been there (Queens included) and never saw any reason to need a car thanks to the extensive subway. And seeing how people in NYC drive, I wouldn't want to drive a car there anyways
 
You totally won't make enough to support yourself and all you are asking for. If you are as "independent" as you claim, I assume you buy all your own food and "toys" and other goodies... It all adds up to a lot more than you think. Not to mention, ONE blunder and your entire car could be done, which will thus lead to a lot of down-the-road repercussions. Bam. Dream killed.

Im 18, and have a nice car. I can afford lots of extras (food, cameras, lenses, coffee, movies, etc...), but only because my parents pay my insurance and bought me my car two years ago. My insurance is in *my own name*, for the fear your father has, but they still pay it - $2,500 a year and I have one minor accident on my policy. Monthly, I spend about $400 on gas food and other crap alone, so factor in insurance, I'd never be able to swing it.

It's not in your best interest to buy a car right now. Your parents nor you are in a position to make this leap.
 
Well there you go, another example of how, for instance, millions of people are part of the sub-prime mortgage mess.
I guess what's going to happen here, no matter what anyone says, is that car will be bought. And it's justification will only be related to the concept of "keeping up" and brain cells too early in their development to think rationally.
At least it's not a house... when it hits the fan with this car you should be able to climb out of the hole in time.
 
Plymouthbreezer said:
My insurance is in *my own name*, for the fear your father has, but they still pay it - $2,500 a month and I have one minor accident on my policy.
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Geez Plymouth, what kind of car are you driving? $2,500 a month? I think you mean $2,500 for 6 months or the whole year. I was insured on my mothers car when I first got my license (a 300hp sports sedan) and my insurance was only $4000 for the whole year. I could have insured myself on a brand new Ferrari when I was 18 for the amount of money you are talking about (I'm not kidding either). My insurance now, 3.5 years after getting my license is about $2500 a year and I live in an area where insurance tends to be higher than average.
 
Plymouthbreezer said:
D'oh. Good catch guys.

Obviously, as you figured, that's per year. :D
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Okay, that make's sense, around $200 per month extra on your parents policy.

When I was in my 20's, I had a sports car per se, and my insurance (on my own policy) was around $500 per month. After a year or so, I decided that it was stupid to pay these high rates for insurance, plus maintenance, gas, etc. Since then, I've always purchased good used cars. Saved a lot of money over the years doing that.

Nabooly said:
I'm guessing from his name a plymouth breeze? :D
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Maybe. :)
 
NY policies are expensive no matter what, whenever I write insurance policies at work NY is one of the states at the top. So for your first car, in your situation has to be used car with liability only, having a nice car with full coverage at your age might just be too much to take on. Inexperienced driver rates tend to last at least 3 years before insurance will go down. 2nd being that your 17, no one will write a policy for just yourself, so you will have to go under yours parents policy or wait till your 18 to get your own policy. 3rd if your father is worried about being sued and losing his house and stuff, he better already have some high liability limits on his policy already if not, whats to say he doesn't cause an accident and doesn't get sued himself. 4th even if you go out and get a cheap insurance policy at 18 for yourself, with state minimum coverage, if you cause an accident that exceeds your limits, there is still an oppurtunity that you will be considered a dependent, and someone might sue your parents for rest. And finally even if your 18 and go out and get a loan you either will get denied for no credit history or two get an insane interest that will just screw you over. Overall advice is just wait, and hopefully you will get in a position where financing just won't need to be an option.
 
I'm guessing from his name a plymouth breeze?
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Nah...I drive a 2000 Chrysler Concorde:

4329my0.jpg
 
Hummer said:
Getting my parents involved is not an option. I am very bitter at my parents for not putting me on their insurance when I said I'd pay for it. I even picked up a job working 28 hours a week with school to show them I could pay them. When that didn't work, I picked up a second job out of spite working 40 hours a week with school 7 days a week, thus screwing up my senior year of high school.

My dad said he's afraid of losing the house. I went through the trouble of getting him information on how to put the house into a trust which would help him out if he were EVER to get sued not just by fault of myself. He totally ignored any of the information not even responding to the suggestion. They're both lazy excuse givers and I gave up trying to please them a long time ago, now I'm just trying to do things on my own. I recently took over my own phone bill and I'm attempting to put myself through school. I also will move out once I turn 18 under whatever financial circumstances...

Anyways, yea, the only option I see working out now out of all of your responses is getting a car from a private seller and forgetting about the insurance part.
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Wow, these posts are hilarious. Just face it, your parents are under-educated in insurance, you don't have enough money to afford a car under any circumstances, and you thinking driving without insurance would be a good way to spite your parents shows your immaturity and supports the idea you currently do not need a car. It's called public transportation, for $55 bucks a month you can get an unlimited ride pass in my city.

With the path you're on right now you are going to be broke and bankrupt.
 
gmecca2 said:
Wow, these posts are hilarious. Just face it, your parents are under-educated in insurance, you don't have enough money to afford a car under any circumstances, and you thinking driving without insurance would be a good way to spite your parents shows your immaturity and supports the idea you currently do not need a car
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What?

The car I want is my dad's '83 Lincoln Town Car that sits on the street and collects dust (he does pay insurance for it as it is parked on the street). I'd like to buy it from him, but no I can't because he wont sell it to me.

Why I said I'd lease a car is because say the list price of a lease is like 200 bucks a month, I'd say that in reality it would come out to 400 bucks a month and $300 a week is currently my pay at my limited hours. But anyways insurance rates are 700 bucks a month for that car and they are the same for a brand new car according to the quotes I've received from companies. Plus I'd rather a leased car because I wont own it unless I feel like buying it at the end of the lease.

I'm glad you say I'm immature, because you really know how I live the rest of my life. I am completely "straight edge" and have been a good student/out of trouble completely up until this point. I would say I'm acting pretty immature at this moment, but am not overall an immature person.

I am also glad that you say I don't need a car. Maybe you should work at the DMV and assess people's life stories to see if they are eligible for a license as theres currently no mental test to receive one.
 
Hummer said:
I'm glad you say I'm immature, because you really know how I live the rest of my life. I am completely "straight edge" and have been a good student/out of trouble completely up until this point. I would say I'm acting pretty immature at this moment, but am not overall an immature person.

I am also glad that you say I don't need a car. Maybe you should work at the DMV and assess people's life stories to see if they are eligible for a license as theres currently no mental test to receive one.
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Hey kid, you posted this on a public form for people to comment on, so don't get your panties in a bunch when you get a load of negative comments after saying you're just going to drive without insurance. You're sounding like a huge spoiled whiner that's used to getting what he wants and in this case cannot have what he wants. You really don't need a car in Queens, NY and you currently can't afford to have one, so you might want to starting trying to get over it, that would be something a person of the maturity you claim to be would do. If there's one thing I hate it's kids whining about how terrible it is that they can't or don't have a car.
 
rhsgolfer33 said:
Hey kid, you posted this on a public form for people to comment on, so don't get your panties in a bunch when you get a load of negative comments after saying you're just going to drive without insurance. You're sounding like a huge spoiled whiner that's used to getting what he wants and in this case cannot have what he wants. You really don't need a car in Queens, NY and you currently can't afford to have one, so you might want to starting trying to get over it, that would be something a person of the maturity you claim to be would do. If there's one thing I hate it's kids whining about how terrible it is that they can't or don't have a car.
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I wasn't whining or getting my panties in a bunch, I was defending myself. I could sit here and call you an ****** (I am not at all calling you an ******) and I'd expect you to go and defend yourself no matter what the conversation was about.

But see when it comes to my case I don't want anything given to me. I'm actually working for it and I'd be footing 100 percent of the bill. I'm simply asking my parents to help me out by adding me to their insurance so I wont have to pay so much as 700 dollars a month. They're not giving me anything except for the ability to use their already established insurance reputation to lower my rate. I mean if you want, compare it to going shopping. Do you spend your hard earned money on an item you know you can save 400 bucks on just because you can't get a coupon at the moment, but you know there is a possibility to find one.

My way of getting over it is by going ahead with driving anyways. Because guess what, I can't have insurance and theres no such thing as financing for kids my age. You have to realize I'm not begging for anyone to give me anything. I never once said I wanted my parents to pay a single dime for anything.

And Queens sucks with public transportation. The 7 is ALWAYS under construction and every train on the Queens Blvd line and Woodhaven line is slow. The A train comes every 30 minutes and the Queens Blvd trains come when they want. The 7 is always operating on a G.O. (General Order) in which there are several re-routes or service suspensions. Forget about the buses. The only decent train is the N. It takes me literally 10 minutes by car to get to school and work, but 45 minutes by train and thats because I have to go all the way around the city on the train in order to get to school.
 
Hummer said:
...My way of getting over it is by going ahead with driving anyways...
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And how do you plan on doing that? You won't be able to register your car without insurance, and without that registration sticker on your license plate, expect to be pulled over quite swiftly, especially in NY.
 
blaskillet4 said:
And how do you plan on doing that? You won't be able to register your car without insurance, and without that registration sticker on your license plate, expect to be pulled over quite swiftly, especially in NY.
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Registration sticker on your license plate? What state do you live in?

Edit: Yea...
 
I still have yet to figure out what you're trying to accomplish with this thread. Without your parents help, there is no legal way for you to purchase, register and insure a car. Even if you bought the car with cash outright, I am pretty sure you need to be 18 to register the car in your name. You're either going to have to convince your parents, or be patient and wait until you're 18, and whining on an internet forum isn't going to change that. At first, I sympathized for you, because I thought your parents were being a bit irrational. Then, as this thread went on, I changed my mind and now support them 100%. All you have shown here is that you are not mature enough to own a car and I can see why they're being so stubborn about helping you out.

Last but not least, if insurance is really going to cost you $700 a month, perhaps you should put away the idea of getting a car. Because that's just a ripoff. And you seem to be forgetting about all of the other costs that come along with a car. Sales tax (mine was almost $2,000 on my new car), registration, repairs, maintenance, gas, parking, tolls (I know the last 2 add up in NYC real quick), etc. You need to take those into account because the car payment and insurance will not be your only expense. And if it were going to cost me over a thousand dollars each month to own a car, you'd bet your ass I'd scrap that idea ASAP and find some other alternate mode of transport. Even if it meant getting called a sissy for riding a bike or spending more time on public transport. Do you really want to spend your entire paycheck on owning a car? What good is having a car if you don't have any money to go hang out with friends, eat out, or buy stuff, and thus, no reason to drive?
 
yg17 said:
Last but not least, if insurance is really going to cost you $700 a month, perhaps you should put away the idea of getting a car. Because that's just a ripoff. And you seem to be forgetting about all of the other costs that come along with a car. Sales tax (mine was almost $2,000 on my new car), registration, repairs, maintenance, gas, parking, tolls (I know the last 2 add up in NYC real quick), etc. You need to take those into account because the car payment and insurance will not be your only expense. And if it were going to cost me over a thousand dollars each month to own a car, you'd bet your ass I'd scrap that idea ASAP and find some other alternate mode of transport. Even if it meant getting called a sissy for riding a bike or spending more time on public transport. Do you really want to spend your entire paycheck on owning a car? What good is having a car if you don't have any money to go hang out with friends, eat out, or buy stuff, and thus, no reason to drive?
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One, I don't plan on buying a car at least not buying one from a dealership. If anything I'd buy a car from a private owner, have it transferred over as a gift and then cash under the table.

Secondly, yes I know 700 bucks is a ripoff which if why I'm not paying it.

Thirdly, I make enough to splurge my whole paycheck into a car.

Fourthly, yes I would put my entire paycheck into owning a car. I already put my whole check into cabs everywhere I go because I don't want to take public transportation.

Fifthly, I work/school all the time so I don't have time to hang out with my friends except at my job where I can work and have them with me at work at the same time.
 
Hummer said:
One, I don't plan on buying a car at least not buying one from a dealership. If anything I'd buy a car from a private owner, have it transferred over as a gift and then cash under the table.
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Um, that's also ILLEGAL and just as dumb as driving without insurance.
 
yg17 said:
Um, that's also ILLEGAL and just as dumb as driving without insurance.
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Who hasn't paid cash to avoid sales taxes on big purchases? Well I haven't made any big really big purchases, but I don't know anyone who hasn't done that. I can't remember the last time I haven't heard that if a buyer pays cash they get a discount. I can see how its dumb though, but a VIN check and a look over the car should do. I used to hang around my dad at his friend's automotive shop. I'd watch him do everything to diagnose car problems from when I was a little kid to even now.
 
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