Help me set a clown straight!

[andyman]

Oh crap....Im the only one who ticked the first one...:yeah:..Little AE92 4AGE twin cam fwd corolla....engine died in quite an entertaining fashion....blew a rod out the side of the block after sustained high revs,sold it with a dead motor and quite a crumpled rear due to a coupla mcdonalds trays under the rear wheels with the handbrake up,and put that money to my first rotary on my fathers advise......"If your silly enough to blow cars up revvin the crap outta them,get something built to rev..get an old rotary or something"....at the time i thought it was strange advice from a father,but he fully expected it to be a doomed experiment,heavy to run,heavy on maintenence,but the one thing he really wanted me to learn was mechanical sympathy.Those old things could be rather fragile with silly treatment....:whistling

lol got used to replacing apex seals lol

 

[Scooter79]

Forget about what the car is and think about the amount of the loan for a first year apprentice. I did this mock up on my banks website and based it on $20000 over 7 years.

Your quote has been calculated as a Used Car Loan.

Estimated cost or value of vehicle or boat..........$ 20,000.00
Amount of the loan..........................................$ 20,000.00
Your State......................................................NSW
Government Stamp Duty (Contract, Mortgage)...$ 0.00
Other government fees....................................$ 12.20
Establishment fee............................................$ 250.00
Personal Loan Protection premium*..................$ 1,928.00
Total amount required for loan.........................$ 22,190.20
Loan Maintenance Fee (monthly)......................$ 7.50
Term of loan...................................................7 Years
Interest rate...................................................12.29%
Your monthly repayments (including Personal Loan Protection) will be:...$ 402.67

$402.67 per month over 7 years. That's 84 months.

$402.67 x 84 = $33,824.28. For something that was only worth $20,000 to begin with you end up paying that much it's ridiculous.

 

[BOGANV8]

Forget about what the car is and think about the amount of the loan for a first year apprentice. I did this mock up on my banks website and based it on $20000 over 7 years.

Your quote has been calculated as a Used Car Loan.

Estimated cost or value of vehicle or boat..........$ 20,000.00
Amount of the loan..........................................$ 20,000.00
Your State......................................................NSW
Government Stamp Duty (Contract, Mortgage)...$ 0.00
Other government fees....................................$ 12.20
Establishment fee............................................$ 250.00
Personal Loan Protection premium*..................$ 1,928.00
Total amount required for loan.........................$ 22,190.20
Loan Maintenance Fee (monthly)......................$ 7.50
Term of loan...................................................7 Years
Interest rate...................................................12.29%
Your monthly repayments (including Personal Loan Protection) will be:...$ 402.67

$402.67 per month over 7 years. That's 84 months.

$402.67 x 84 = $33,824.28. For something that was only worth $20,000 to begin with you end up paying that much it's ridiculous.

Dont forget comp insurance cause the car is under finance.....

 

[Tas_HSV]

Personally,ive paid in cash for every car ive owned...finance has always been a last resort backup for a bargain that I can buy and then resell at a moderate profit in a small timeframe...

 

[one_and_only2004]

option 3 here - 1991 holden barina with 425,000km's. I guess the old motor just decided enough was enough really. Was a great car but had next to zero safety features, after that i got the ute, and yes i got a loan out on it in my first year of being an apprentice. Why? because i wanted it now, it looked nice, and refused to drive some old piece of crap.

 

[ryno_vrx]

i ditched my inherited 73 toyota corona and took out a $25000 to buy a new lancer when i became a 2nd yr apprentice as i needed a more reliable car to get me to work and still believe i made the right choice .....but 2 yrs later it decided that it wanted to be a dozer and ran into a tree:cry: most likey due to my inexperience or the fact it was yellow lol
buying a new car is a good idea as long as its under $20000 i reckon

 

[fitz_vt]

5.7 L HSV V8 – 300 kW engine....... 15 year old p plater......... tree.......... gulley....... they look mighty attractive for a p plater with a v8. i think as a p plater myself that a v6 is enough, and $20,000 loan he wont get it as hes not 18, he probably doesnt even earn $20,000 in one year and also if they were to give him a loan it would be the highest interest on the planet as it would be a high risk loan, not to mention they want security for $20,000 and when its a secured loan hello comprehensive insurance..... 15 year old V8..... on my v6 holden when i was 18 comprehensive was $3,500 hes 15 driving a V8, it will be close to $5,000 per year.

 

[stocky]

so $100 a week to repay the loan. would a first year apprentice even earn that much?

 

[BullittSV6]

Only had my first car for 14 months now, and yes I got myself a loan to buy a $22,000 car but I did it because I'm was 22, got a full time job and I could surpass the minimum repayment without struggling for cash. Don't regret the decision for a moment.

 

[nemesis_adrasteia]

he wont even be able to drive it legally till hes 21 or is it 22 now? he wont get insurance, seriously whos gunna insure some kid whos just got his licence driving around a 5.7ltr V8 its a performance vehicle, and really paying 400+ a month just for the car then you need fuel you need tires regular sevicing, and when he gets caught driving it and gets a fine and loses his licence and cant get to work and loses his job and the repo man come and takes his car... tell him his dreaming and tell him to by a nice VR/VS flog that around till your getting decent money and can legally drive your SS then sure go nuts by an SS have fun