Mighty Shilling

I just tried peoplefirst.com for financing, but I don't make enough gross monthly income for them to give me a loan. and since my parents are very much so against me owning 2 porsches at age 20, they won't cosign a loan. (it's not that I don't have the money, it's that they just don't wanna see me spending it on something they don't feel is necessary). I hate working part time

Anyone have any other ideas for financing? As always, you guys rock.

Looks like I'm gonna keep adding to the savings account, and just waiting for a bit

Redshift

I hate to sound preachy, but you should listen to your parents. They are right, and the lender is trying to tell you something.

These cars can be deceptive -- my car's records show that the previous owner shoveled out more than the car was worth in his two years of ownership. Though I got a good deal from his hardship, I am still finding things to fix. You do not want the cost of repairs on top of loan payments. That would put a serious strain on any part time wage earner.

mochman

Fixing stuff? It seems the more that i fix there's still more to fix.

Perry 951

Get another job... that's the best financing I can think of. If you don't have time for another job, keep saving what you have until you can buy one outright. I think getting a loan for a car 5 years or older is not wise. As said above, repairs on top of your balance due makes for a very tough situation.

You'll get one when the time is right.

User 41221

Perry, as usual, is dead on, along with the other guys who have posted here. If you want one, earn the cash first, and then buy it. You'll be a lot happier at the end of the day. Financing ANY vehicle is a bad plan, in my opinion. So is financing non-essential purchases on credit cards, but hey, thats just me...

Regards,

v944god

They usually run credit checks before they sign people on for loans.. so you're going to have to build your credit. That means opening a credit card account.

I'm trying to help you build your credit, not destroy it. So, open a checking account. Everytime you get a check, you deposit it in the checking account. Open a student card (citibank is good) and they give you a $500 credit line until you can prove yourself. When you recieve the card and sign up for online access, link it to your checking account. Use the credit card to make your important purchases (cell phone, cable, paypal, etc..). Over time your credit will be built. Than continue..

David Floyd

I agree with all the above advice.

Heck, life is good, your 20 and have a Porsche. I was 38 before life setteled enough for me to buy my first porsche.

Work hard, save money all the good things in life come in due time.

Mighty Shilling

Yeah. it's a good call. thanks for all the advice. I think I'll just keep saving. once summer comes and I'm able to work full time again, I'll be making twice what I am now, and be able to save up quicker. then, in about 2 years, I'll be able to buy one outright. Hell, 50% of paycheck into saving will save up rather nicely. (direct deposit makes it so I won't cheat). it's still a bummer though

Eyal 951

Your a college student right? I am as well, I have a place here that uses you for a weekend trying pills and such (its safe) and then pays you a grand give or take. Try finding that in your area. I was gonna do one, but they wouldnt take me cause i was under weight. I'v been eating more lately.
~Eyal

cpt_koolbeenz

Hmmm... How much are you making now? Here in the Springs I started my own business: Pc Paramedics - kinda boring working on computers all the time but I get to charge $30hr + transit time

Owning your own business can be profitable
LOL Just an idea

thf944

i understand your pain. i'm in the process of having a house built and it wouldn't look good to have an extra car payment when getting the house financed, so i have to wait til at least february.

but, have you considered selling the 924 and using that as a way of getting halfway there? if i were you, i'd buy a cheap vw as a daily, sell the 924 and see what you could do from there. using a turbo as a daily driver plus having a payment could get expensive. but a vw is cheap and easy to work on, then you can drive the turbo on weekends, plus financing the 951 with half down could get payments down low enough. and you have to consider the cost of full coverage of a turbo sports car at your age......

anyways, be patient. it'll happen in time. besides, 924s are fun too......

NZ951

I am a student also, if I were you, sell the 924s, no one needs two, unless they have sentimental value or rather different cars, 356 or 911 cabrio etc... Then your parents will agree to help finance. Its a no brainer. Also, you should hang onto some of the 924 cash for repairs etc to keep it on the road.