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burninator
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I'm 19 years old, and consider buying a mini on finance. I am currently working, and earning approx. 1k a month. But also study at college full time. I have 2 years left at college so hope to pay off for my car within that time. This article helped me alot  https://bricta.com/how-to-get-a-car-loan-at-18/

The only thing is, I applied for a loan on my 19th, when I wasn't earning.. this was in October, what do you think the likelihood is now that my loan application will go through?

Edited by blissann
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Since we're in a Klipsch forum... I've dropped Klipsch woofers into the rear deck of my e46 BMW & figured out how to put other Kilpsch speakersin the doors without cutting metal.  The only thing I wish Klipsch made is a 2.75" midrange speaker. 

 

This is only the rear speakers before the doors were installed and the head unit really needs to be replaced. It sounds flat to me. 

 

 

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5 hours ago, blissann said:

I'm 19 years old, and consider buying a mini on finance. I am currently working, and earning approx. 1k a month. But also study at college full time. I have 2 years left at college so hope to pay off for my car within that time.

The only thing is, I applied for a loan on my 19th, when I wasn't earning.. this was in October, what do you think the likelihood is now that my loan application will go through?

Man, I don't want to know your details & I'm not fishing for them. 

 

One word of advice. I represent a nationwide subprime lender for automobiles. Do NOT go that route if you're considering it. The interest rates are too high. Their dealers have prices the uninitiated should never pay. There's always some additional cost. The extended warranties are a bit*% to collect on. 

 

A Mini is a BMW. They're costly to have repaired. 

 

My advice -- Save, pay cash for a Honda or Toyota & learn how to fix your car. Let the cost of your repairs be your financing. 

Edited by attycda
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6 hours ago, attycda said:

A Mini is a BMW. They're costly to have repaired. 

 

My advice -- Save, pay cash for a Honda or Toyota & learn how to fix your car. Let the cost of your repairs be your financing.

Generally good advice.  But every car is expensive to repair.  Honda and Toyota are no different from a BMW.  Todays cars are next to impossible for the layman to repair.  Too much computerization.  A good BMW used purchase Is every bit as economical as some Japanese brand.  The best advice involves paying cash if at all possible and finding a great deal on a good used car.  

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Once upon a time I was purchasing a slightly used automobile from a dealer. The finance guy wanted to run my credit report and I wasn't interested in having a hit. We got to talking and was told that the dealership makes a percentage of the financed interest rate for low qualifiers and if buyer has good credit then the dealership gets no cut.

As one that has experienced having "bad" credit I can tell you that you should do all you can (legitimately, the only way is to pay off and pay on time) to get your score up. Finance rates and background checks for employment will hurt you with low scores.

It's a road that is hard but needs to be traveled and WILL pay off. Get the have too not the want too and be frugal.


Sign up / log in to Credit Karma and see what you need to fix. Took me a while but now I try my best to keep in the upper 800s. 
YOU CAN DO IT!


 

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4 hours ago, oldtimer said:

Generally good advice.  But every car is expensive to repair.  Honda and Toyota are no different from a BMW.  Todays cars are next to impossible for the layman to repair.  Too much computerization.  A good BMW used purchase Is every bit as economical as some Japanese brand.  The best advice involves paying cash if at all possible and finding a great deal on a good used car.  

I do the work on my own BMW which I paid for in cash while my son has a Honda Accord we bought him that way. On the balance aftermarket part prices for the Honda are roughly 1/2 to 1/3 of what they are for the BMW. 

I was sent the wrong upper boot (duct) going from the mass air flow sensor to the block, which is a common source of extra air in the system causing lean codes. It was the analogous Mini part, and it was twice what my part was. Yes, they agreed to pay shipping back. 

 

Honda thermostat is $8. BMW requires an assembly that at the cheapest runs $25 with most being higher. I've seen similar with control arms and other parts.

 

He absolutely has to consider mileage and big maintenance issues, especially timing belt replacement for many models because that going out will brick an interference engine. 

 

I hate seeing kids get behind early. 

 

 

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5 hours ago, oldtimer said:

every car is expensive to repair.  Honda and Toyota are no different from a BMW.  Todays cars are next to impossible for the layman to repair.  Too much computerization.  A good BMW used purchase Is every bit as economical as some Japanese brand. 

That is hilarious.  Have you OWNED both and kept them for many miles?   If you had, you would never say that. I love European cars.  Wouldn't own one without an extended warranty and would surely dump it before that ran out. After that, unless you are SUPER mechanically inclined, good luck or open you wallet WIDE. 

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A good friend of mine is a Mercedes Master Technician and has left the dealer network to open his own shop. I drove a couple certified used Mercedes at a dealer, twin turbo V6’s. I called Jeff to get his opinion on a certified dealer purchased Benz, the first sentence from his mouth - “how much warranty does it come with”.  That did it for me. Not only did I want to stay away from turbo cars, ( just had to drive the MB regardless) especially the now ubiquitous inline 4 turbos. Give me a naturally aspirated V8 any day - 

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23 minutes ago, richieb said:

A good friend of mine is a Mercedes Master Technician and has left the dealer network to open his own shop. I drove a couple certified used Mercedes at a dealer, twin turbo V6’s. I called Jeff to get his opinion on a certified dealer purchased Benz, the first sentence from his mouth - “how much warranty does it come with”.  That did it for me. Not only did I want to stay away from turbo cars, ( just had to drive the MB regardless) especially the now ubiquitous inline 4 turbos. Give me a naturally aspirated V8 any day - 

They are now all, mostly turbo now.  Wait till you have to replace any sensor deep inside the engine bay out of warranty. Your eyebrows will raise high, or you will think about dumping.  Otherwise, you'll know, pay to play, dip in deep on the accelator and smile. 

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7 hours ago, richieb said:

Not only did I want to stay away from turbo cars, ( just had to drive the MB regardless) especially the now ubiquitous inline 4 turbos. Give me a naturally aspirated V8 any day - 

Non turbo is lower total cost over time.

 

Performance cars are 4 wheel motorcycles, not daily driver commuter cars

My 2003 Camry is near the end of life

I will probably replace it with a Hyundi Sonata as a daily driver

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My daily vehicle for quite some time has been a German, turbo engine, wrapped in an American car.  For. The most part, I just change oil, and I'm soon to hit 213k miles on it.  Granted, it's a Mercedes diesel, the same found in the Sprinter vans, but I use the hell out of it, towing the race car and RZR's across the country.  The vehicle is a 2007 Jeep Grand Cherokee CRD. 

 

I am actually looking to replace it with a new Ranger in the next few months.  I want something new, I want a truck, but I don't want a huge truck nor do I want to spend a lot of money.  I've thought of the NA V8, vs a turbo motor, but I still like playing with turbos and tuning. 

 

 

 

I am of the very mechanically inclined as well as ECU programming, but I desire to do less these days.  Unfortunately, I can't hire good work, so I generally do it all myself, still. That said, a Mini is a terrible idea, in my opinion.  I'd look at a well cared for, 5-10 Civic or the like. 

 

I've considered going with a C8 Corvette, however, for me to even justify a car like that, it has to double as a track car as it's a worthless street car for me. But... I still have a very good track car.  I also have come to the point where regular street car is just that for me anymore... I don't particularly care what it is as long as it's comfortable and reliable. So to tag along with @Bubo, fun cars generally are better left to second/third vehicles, vs trying to have one as a daily. 

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