need help choosing between two SI's

florida13

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thanks guys for the info... i am just going to see if we get pre approved for the loan anyways and on Monday i will just talk to the guy who has his car at the dealer and look over the new pictures he is taking..

he has a lexus now and said he used the SI just for gas.. says it gets great mileage. the outside looked VERY clean and sharp... but i mean the red one above i posted is VERY clean to.. exterior and interior.. do you think it is over priced though??

but on the black stock one, i can get it down to around 10K.... he ordered rims for it that were like 1,300 and said he will just minus that so it would be around 10k....

here are the pics i took when i went and saw the red civic....



 

vjf915

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Okay here is the dealio. When you take out a car loan, the bank has a lien on the car until you pay it off.....basically they own it and if you stop making payments they take the car back. Since the bank has this power they will, in most situations, not allow you to take the loan out strictly under your name if somebody else is going to be on the title. And some insurance companies, if not most, will NOT insure a car under one persons name if the title is in another persons name. Therefore, if your dads name is not on the loan, his name may not be able to be on the title, and he may not be able to insure the car under his policy.

Maybe if you have some shitty bank and shitty insurance company you could pull it off. But I have NJM insurance, and got my car loan through a Credit Union. I wanted the loan strictly under my name, but the bank would not allow the title to go in my dads name if his name was not on the loan. And the insurance company would not insure the car under his policy if his name was not on the loan. Therefore, we had two options. He co-signs, puts the title in his name, insures it under his policy.......or he doesnt co-sign, I put the title in my name, I get an insurance policy under my name to insure the car.

That being said, I agree 100% with what UCC said about debt. Debt f**king SUCKS when you are young and dont have a steady income. When you are older and can swing it, sure. But right now its just not a wise thing to get yourself into. Believe me. I owe 5k on my car, 3k to my dad for various things such as car insurance, and will have about 10-12k more by the time I finish school in school loans. ~20k is actually not that much, but I am still not thrilled AT ALL about having this money owed to others. It really limits what you can do.
 


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UCCRacing

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Man you got screwed, whoever at the bank said that was wrong... OR THEY have some OFF THE wall BS program rule....My insurance is a joke, I am 26 and my monthly on a 03 LS Trailblazer so not an SS or anything is 170/mo... I can't afford that s**t, well the title is in my dads name and my name, he has NEVER been on my insurance from day one, and I had my ex fiance on the insurance while I sat at the dealer. Because the law states that anyone in your home that DRIVES the vehicle must be on the insurance..... Which 4 yrs ago was 490/mo

Since then I have dropped all hope of insurance in my name... And it now resides in friends/Family's name and I just pay them. I even turned documents into my Credit Union to show them proof of insurance. They didn't and have never questioned it! They said thank you. When I've gotten pulled over with other peoples name on the card the cops say here you go and give it back... Could I get in trouble for not being on the ins and driving it? SURE... but if it comes down to it.. They are family and they drive the car 90% of the time which is why it is in their name... I guess it is bad that I do it, but its that or no ins, I just can't afford that much a mo...

WHY you ask? BECAUSE OF F'IN DEBT!!!!!!!!!!!!!!!!!!!!

So on topic lol And again DEBT. man I am 26 I consider myself to be doing good, been at my job for 4 yrs now, pays decent... But I have 140k in debt, yes most of it is a home, which is great that I own a home and have for a few yrs... But a lot of it that I am broke for is car payments and Credit Cards... Man I don't want to come on CC.com and see.... I just had my CIVIC SI REPOD BECAUSE I DIDN't LISTEN.....

Good luck on your search but man you reallllly should listen up....

GL
 

florida13

New Member
yeha i am getting it a lot now.. but say i had the money all cash.. would you go with the red one or check out the stock black one... i may just go with an older and cheaper one now but just asking which would you still prefer...

i have a website i own that is big enough to earn me a few thousand to...
 


vjf915

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Thats just how some companies work man. I dont know, maybe it is a BS policy, but its how they work. And honestly it made sense to me.
 

florida13

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ok... gotcha.. my dad also told me about this IMG or something he had... where he takes out money HE has... like a loan that is his own money that he wouldnt have to pay back like the bank..
 

vjf915

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Basically your dad pays for it and you pay him back?
 

lethal6

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If I understand what you are talking about, you still have to pay it back. My old roommate did that when he bought his harley. The loan was for $15k. He took out $12k from his savings and put it towards the loan as collateral instead of putting the motorcycle against it. Kind of hard to explain because I am tired, but basically as you pay the bank, the money goes back into the savings account. If the payments are missed they keep money instead of taking the motorcycle/car/truck/etc back.

What I don't understand is why your dad would willingly be an enabler to a young kid to put himself in over $10k in debt when said kid just started a job. My dad would fight me tooth and nail if I came to him at 19 and wanted to get a loan for something I ultimately couldn't afford. Also, my dad would NEVER co sign for me for anything like this. Neither would I in the same situation.

To me, I believe that parents should teach their kids about financial responsibility and just watching them jump into a situation like this blows my mind.
 

BlueSiclone

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florida13 said:
bluesiclone u said the red one right... but according to the above posts they say the mods he has on that civic may be because its beat up... but i am doing the loan thing today but there is one other black civic 2006 with 70k miles and all stock... with a navigation... so i am waiting to see pics and in person on Monday... cause i wont get an answer from the bank until tuesday anyways...
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Actually I said the same they are saying, here is my post in your last thread.

"Dude, you just have to put the work into finding the car yourself. Do your research on KBB, Edmunds.com. Go with a car that is as stock as possible. If it's full of aftermarket acc's, then it's most likely been ragged on. Other than that you just gotta put the work in and do some local research. Car values differ from state to state, region to region."

These ppl telling you to avoid debt couldn't be moe spot on. I used to sell Honda's (for 4 years actually) and now I'm into financing. I see this all the time. Younger people get caught up in the "emotional" aspect of car buying. Which as a sales person is the idea, when someone gets caught up in the emotions of the deal, it becomes an easy sell. You are young and there are much bigger things you should be focusing on. Get a nice car, that is good but having a nice car and not being able to go anywhere or do anything negates the purpose.

I agree, get yourself something that you can afford very easily or try to keep payments away altogether. If you do buy one of these, get on edmunds, kbb, etc. to figure out what they cost in your area. As I also said before, buy as stock as possible, don't inherit someone else's problems.
 

vjf915

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What are you planning on doing? Do you still plan on getting a new Si or do you plan on net getting into debt?
 

LowNotSlow

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Look at my sig. I bought that car for $15k and put $550 into it to make that power.

I eat civics and s**t out Kias.
 

BlueSiclone

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I have given up on this kid. He's gonna do what he wants to do, dunno why he keeps askin us. We give him a good answer and he just keeps going with what he wants, even if we are tellin him it'll ruin a lot for him....
 
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