So close, yet so far

[Free Agent]

My moms is a nurse, and my dad gets his retirement benefits, so Im pretty sure SSI out of question. I'm a senior in high school so I'm 17, but ill be 18 by the end of this year. Even though for my age I might seem like I don't need a car, but its quite the contrary, I need a car to take my dad to his doctors appointments,I'm the only person who has time go grocery shopping, I take care of all the things my mom doesn't have time to do, so transportation is almost a must. I totally agree on the part time job, I have applied to a lot of places, I just never get called in to an interview for some reason. My guess is its the work experience and probably age.

Thanks for responding. Sounds like you are being a good son and member of your family helping out. I like to hear that. But here is an HONEST question. WHY do you need a Mustang to get groceries and take your father to medical appointments? That can be done far more easily with a sedan, CUV or SUV. Far easier for your father to get in and out of as well. Again I think I know the answer but I'm going to ask it anyway. You WANT a Mustang. Hey that is great in my book frankly. You should do it the right way though in my book and earn it, pay for it, pay for insurance etc and you will have a far greater pride of ownership in it and you won't screw around in it as much if you know you wreck it you pay for it. As for jobs, I guess we are talking entry level jobs? I have worked countless different Summer jobs on my way through High School and College. Search and you will find one. And I quoted some good advice below, it is strong FINANCIAL advice. I didn't buy my first car until I was out of college. I'm glad I didn't and knowing that I worked and earned money to pay for my first car gave me a great sense of pride of ownership that NO gift can EVER give you. Good luck.

Taking on a car loan and high insurance premiums without a reliable source of income is pure stupidity at any age, especially when you're a teen. Even if you have a source of income, that money should be saved for university expenses.

The whole point of high school and higher education is to enable you to find a good job or start your own business so that you can afford stuff like this, among other things. By saddling yourself with unnecessary liabilities, you are basically shooting yourself in the foot before starting on the race.

Excellent point.

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[GodfatherGreg]

I bolded 2 very important words there. And they both deal with parenting. Giving a child a car then releasing them from the responsibility of their actions is the exact opposite. Your Dad did it right. The OP's father cannot drive. He can't instill those lessons by example right now from the sounds of it. You do have to start somewhere, but you don't start off your athletic child brand new to a sport in the NBA, MLB or NFL, you start them off at their level and work from there. Caution first, build experience, THEN step up.

Actually, I was taught how to drive by my dad. He stopped driving only 6 months ago. I'm almost nearing my 2nd year of having my license too so I have SOME experience in driving, just not a lot.

 

[GodfatherGreg]

Thanks for responding. Sounds like you are being a good son and member of your family helping out. I like to hear that. But here is an HONEST question. WHY do you need a Mustang to get groceries and take your father to medical appointments? That can be done far more easily with a sedan, CUV or SUV. Far easier for your father to get in and out of as well. Again I think I know the answer but I'm going to ask it anyway. You WANT a Mustang. Hey that is great in my book frankly. You should do it the right way though in my book and earn it, pay for it, pay for insurance etc and you will have a far greater pride of ownership in it and you won't screw around in it as much if you know you wreck it you pay for it. As for jobs, I guess we are talking entry level jobs? I have worked countless different Summer jobs on my way through High School and College. Search and you will find one. And I quoted some good advice below, it is strong FINANCIAL advice. I didn't buy my first car until I was out of college. I'm glad I didn't and knowing that I worked and earned money to pay for my first car gave me a great sense of pride of ownership that NO gift can EVER give you. Good luck.



Excellent point.

You're right, I WANT a mustang, I don't need it. But a V6 mustang almost costs the same as a regular camry, accord, or a sonata. From the response here, I'll probably hold off on getting a mustang until I have a part time job, then I can just pay both my insurance premium and my car payments and get that sense of pride from working hard and earning your own car. I'm just kind of rushing now because of how good this deal is, and how much I hate riding around in my death trap, Haha. Also, I've only been applying to major corporations so far like target, best buy, walmart etc.

 

[MagneticA]

Bring your dad on a test drive. Have him get in and out a few times to see if he's comfortable. Normally I wouldn't care about how others feel about my car, but you mention that your dad is one of the major reasons you need a car. And if that's actually the case, then it is important that the car meets some of his needs as well. All cars come with compromises and benefits. You just need to look at the whole picture and decide what fits your lifestyle at the time.

 

[GNS]

You're right, I WANT a mustang, I don't need it. But a V6 mustang almost costs the same as a regular camry, accord, or a sonata. From the response here, I'll probably hold off on getting a mustang until I have a part time job, then I can just pay both my insurance premium and my car payments and get that sense of pride from working hard and earning your own car. I'm just kind of rushing now because of how good this deal is, and how much I hate riding around in my death trap, Haha. Also, I've only been applying to major corporations so far like target, best buy, walmart etc.

This right here should be a warning sign, in big flashing red neon letters. You are walking into a dealership like a lamb into a den of wolves, there are no 'good deals' to be had.

 

[GodfatherGreg]

Bring your dad on a test drive. Have him get in and out a few times to see if he's comfortable. Normally I wouldn't care about how others feel about my car, but you mention that your dad is one of the major reasons you need a car. And if that's actually the case, then it is important that the car meets some of his needs as well. All cars come with compromises and benefits. You just need to look at the whole picture and decide what fits your lifestyle at the time.

Oh he's fine with getting in and out of it, I should have been more specific about why my dad can't drive, it's actually just his liver, it makes him sleepy and he can fall into a coma at any given time that's why he can't drive.

 

[rvlyssup]

Also, I've only been applying to major corporations so far like target, best buy, walmart etc.

Try places like Jamba Juice or Starbucks...

My oldest son is Director of International Operations for JJ & started part-time with Starbucks in HS. He bought & paid his own way with his first car which was a Civic SI. When he went over to JJ as a store manager, he hired a lot of HS kids; he knew how it was to be given just that one chance...and also to make some money.

At least you have drive :first: Good Luck to ya...no doubt you'll have a Pony in no time.

 

[GodfatherGreg]

Try places like Jamba Juice or Starbucks...

My oldest son is Director of International Operations for JJ & started part-time with Starbucks in HS. He bought & paid his own way with his first car which was a Civic SI. When he went over to JJ as a store manager, he hired a lot of HS kids; he knew how it was to be given just that one chance...and also to make some money.

At least you have drive :first: Good Luck to ya...no doubt you'll have a Pony in no time.

Sadly I have tried Starbucks, but I haven't considered Jamba Juice, maybe because there only a handful in my area, but I'll look into it.

 

[Angel14]

I'm kinda in the same boat just approximately 1 year younger then you going to be a junior this year. Only diffrence is I'll have around 22,000 saved up and planning to get a v8. I will pay the monthly payments and insurance by myself. Parents will at most co-sign and add the car to there insurance no money from them.

 

[Free Agent]

Sadly I have tried Starbucks, but I haven't considered Jamba Juice, maybe because there only a handful in my area, but I'll look into it.

Try branching out past the "big names" as well. Or if you do like cars, look into a dealership to see if they hire teens to wash cars on the lot or clean the dealership at nights. Good way to get your foot in the door so to speak. I don't know you and know your strengths and weaknesses for the workforce, only you can know that right now. Don't let fast food deter you either. I've worked that as a youth as well and it was a good experience. There are entry level jobs out there you just have to be willing to look and to be PATIENT.

Have you mentioned maybe a USED V6 Mustang to your parents? You could probably find a good deal on a '10 thru '12 right now. It would save you some money, not put as much financial burden on you and may (or may not) be cheaper to insure. Then if you work it could open some $$$ up to modding your ride to make it yours. You might not be able to do that purchasing new. Just some thoughts.

Oh and as mentioned above. The deals will always be there. Don't let the salesmen pressure you or the "deal" look to good. Ford is pumping out Mustangs left and right, you are in the drivers seat as the buyer. Patience and I bet you could find a deal BETTER than the one you have on the table now. Buying a new car on financing is a burden, always will be. Believe me I know it. ;)

 

[Khyber]

I'm kinda in the same boat just approximately 1 year younger then you going to be a junior this year. Only diffrence is I'll have around 22,000 saved up and planning to get a v8. I will pay the monthly payments and insurance by myself. Parents will at most co-sign and add the car to there insurance no money from them.

man if you're a junior in highschool and got 22k saved(which holy hell awesome)... don't waste it on a depreciating asset....

invest it! buy yourself a cheap house to live in during college and rent out the other rooms to your friends so they cover the house payment + you'll have some going in your pocket, and then rent whole thing out when your done with college... You'll have so much more than 22k by that time... then go buy yourself a big boy house and worry about a car then!

do anything but put it in a car...especially at 16 with 22k!

but do what ya want, it's your money...

 

[Free Agent]

I'm kinda in the same boat just approximately 1 year younger then you going to be a junior this year. Only diffrence is I'll have around 22,000 saved up and planning to get a v8. I will pay the monthly payments and insurance by myself. Parents will at most co-sign and add the car to there insurance no money from them.

If it is your money and you make the payments then that is your prerogative. I wouldn't advise it, but it is your money. If I was your father I'd advise against it and I would NOT co-sign the loan. You get tired of making the payments and quit your job and your parents are left holding the bag on the lien. Be prepared to have a monthly insurance bill at 16 years old on a new GT Mustang to be MORE than your loan payment even with 22K down. Frankly I'm not faulting you for wanting to buy a Mustang GT, I'm faulting your parents for even considering co-signing on it. Call me a fuddy-duddy but your parents aren't making a wise decision at all if they co-sign. You buy it, you make the payments, you pay the insurance then great. Sorry that is my stance, I'm sure that isn't what you want to hear, but it is what is NEEDED to be said. By law you are a child. That is no insult, it is what you are called by law. If you save up and do it on your own, more power to you. Would love to see it happen.

 

[Free Agent]

man if you're a junior in highschool and got 22k saved(which holy hell awesome)... don't waste it on a depreciating asset....

invest it! buy yourself a cheap house to live in during college and rent out the other rooms to your friends so they cover the house payment + you'll have some going in your pocket, and then rent whole thing out when your done with college... You'll have so much more than 22k by that time... then go buy yourself a big boy house and worry about a car then!

do anything but put it in a car...especially at 16 with 22k!

but do what ya want, it's your money...

That or invest in a solid college education. Save up for college and come out with a degree and DEBT FREE!!!

Maybe his parents are telling him this or maybe they aren't. Regardless, it is sound financial advice. Too many young people put the cart before the horse. And they end up paying for it for a LONG time.

 

[L8APEX]

:amen:Thats the main reason why my dad is pushing for the mustang. He's wrecked the crown vic countless times, he knows that the airbags on this car are a piece of junk too. He also knows that these cars have a tendency to explode when rear ended, thats what scaring me from getting into that car again.

?????

:lol:

 

[Angel14]

If it is your money and you make the payments then that is your prerogative. I wouldn't advise it, but it is your money. If I was your father I'd advise against it and I would NOT co-sign the loan. You get tired of making the payments and quit your job and your parents are left holding the bag on the lien. Be prepared to have a monthly insurance bill at 16 years old on a new GT Mustang to be MORE than your loan payment even with 22K down. Frankly I'm not faulting you for wanting to buy a Mustang GT, I'm faulting your parents for even considering co-signing on it. Call me a fuddy-duddy but your parents aren't making a wise decision at all if they co-sign. You buy it, you make the payments, you pay the insurance then great. Sorry that is my stance, I'm sure that isn't what you want to hear, but it is what is NEEDED to be said. By law you are a child. That is no insult, it is what you are called by law. If you save up and do it on your own, more power to you. Would love to see it happen.

Parents are only considering it since every semester all A's and one stupid B. They are pushing me really hard into college but I honestly don't see me there and will probably go to a technical school for diesal mechanic. I know I could totally maintain the payments and I could be getting the car cheaper since I would be working at a Ford dealership and sorry not trying to Jack the thread. :(

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