Paying for your 240

I was wondering how did people buy there cars, I mean did you save up and pay cash or did you take a loan out? The thing is, If I save up my money, it'll take like 4-5 years before I can afford an S14 since I went back to school, so I was thinking I could take a loan out at the end of the winter, I dunno how much I can take out, I'm ganna go ask the bank, but then I can have the car I want now and pay for it over time, I won'T have any cash for upgrades, but at least I'll have the car and that'S what's important. Maybe I can take aloan out for enough for the car, nice wheels/tires, lower the suspension and the rest I'll get over time, but anyways, so how did you buy yours?

i just bought my 1991 240sx last tuesday!! yay i finally own a 240 :naughty: but i paid cash being that the car only cost me $800, seeing that i paid cash for it, i will be having to spend extra money on it because im declaring this car a "project car" needs the auto to manual swap, rebuild or sr swap, and needs new suspension.

lookiing for a s14 now, got about4k saved up and luckly my parents is gona help me with about 2500, so my buget is 6500, not that bad... no luck so far, just some autos with hi-milage, if i can get my probe sold for $1000 i can put more $ towards the 240sx..

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i hate to say it, but i'm very lucky to have my parents buy me the car becasue i needed it to go back and forth to school in college.

my parents gave me a loan, and i have to pay it off to them with weekly payments, i owe them like two grand, with the car and a few repairs for it... in a way its good b/c i got a better car, but it sucks that my parents have that much money over my head to make sure im good... if i do somethin bad they have everyright to take away my car (im only 17) and that part really sux

logik, if you're in school then some banks will give you a student line of credit. what that is is basically a loan with a very low interest rate, and all you have to pay back per month is the interest, but you can obviously pay more than that.. my interest is 4.75% right now and thats a hell of a lot easier than paying off a loan cause you'll owe like $200 minimum per month.. which isn't easy with a part time job.. go to your bank and ask about it.. or just tell them you need $4000 and ask which way is the easiest for a student with a p/t job.. one thing you'll need is a co-signer, but convince your parents that its not a huge risk for you to take.. all you have to do is have everything payed off by the time you're out of school (for me, i have atleast 2 1/2 years to pay off $8000 which isn't bad at all.. especially since i'm working all the time.. the other thing you have to consider is insurance.. i just found out that i was being ripped off by my company.. i got a new quote, which was $240/mo (coincidence? i think not..) down from $325/mo.. yours may be lower but you never know.. make sure you can pay for insurance and gas.. cause they're gonna kick you in the ass if you can't pay it.. either save up for monthly payments or pay semi-annually.. anyhoo, let me know if you have anymore questions..

well i took out a loan. under my own name i wasnt lucky my oarents didnt do a damn thing to help me but thats ok i bought my first vehicle when i was 14 it was a baby blue dropped mini-truck that was totaled so i rebuilt it till i turned 16 and could drive. but i soon got bored with it it was clean but slow so i took out a loan agianst my truck and bought a 93 240sx. then a month before the loan was payed off some one broke in to it and stole my system and rims. then i totaled it (one of the old tires i had to put back on was dry rotted and i had a blow out at 75 miles an hour) so i bought another 240 and then anouther one for my project car.

Shit, my parents didn't help me out either. I'm lucky I have an older brother that looks out for me, so he co-signed on a loan for me. 6.25% interest over four years isn't too shabby for a 19 year old, my car payment is only $124 per month............... oh wait, did I forget to mention that my insurance is $246 a month?!?! Oh well.

have your parents cosign and get the loan where you pay it off at what you can afford...like mine started at ike 83 dollars a month then i raised it because i make more then that extra from insurance and gas...and misc..like Food, and "Car Fund"... Almost there on the Exhaust for my car then after thats its save for the Auto-Manual...bleh

I was thinking more like 10 grand, lol, anyways, my mom will sign, she's the one who tol dme to get a loan and stop whinning. I have like 2 years of CEGEP left before I go to univeristy, if I go, but do I need it all payed off before I finish CEGEP or does it continue on to uni? What if I take 6 months off between the 2?

well my parents ownd my auto hatch and gave me it. THen i bought my coupe with cash. I always pay cash, especially for something so cheap. I mean if i was going to buy a brand new car or a house then i think a loan is called for. Just work your ass off, thats what i do. Got 2 jobs and go to night school

well its been a while since ive posted...

my parents have 3000 dollars in the bank for me that there going to give to me when i open my own bank account. next weekend hopefully. i finally got a decent job. i make about 800 a month. im considering getting a croch rocket because i cant find a decent 240 down here in miami. mabey when we move up to orlando ill find something decent. right now im driving my dads 01 cutlass.

im only 18, and still in highschool, but i work at least 40 hours a week while in school, just to pay for my car and all my mods, i have owned 9 different cars, and have paid for everyone of them. Right now I have a turbo II S5 with about 15k invested, and i just bought a clean black convertable last week for 3,500. I spend way too much on my cars.

PS-ChargeSpeed seat just came in last night!!!

The thing is, I have to focus on school, I can't go to night school, I can't work for more then like 8-10 hours a week until this summer, so I really can't save up for the car, that's why I wanna take out a loan, during the summer and winter breaks I can work my ass off, but not when I'm at school. Especially with the waymy classes are, I have one in the morning and one from like 2-4 so I have this 3 hour break in the middle of each day, rly sucks. I'll try to organize my schedule better next semester, but since this is my first, I got last pick.

I have it really easy my dad owns a car lot so I can just have my car registered under the lot and insurance is under the lot so all I have to pay for is gas. alsow it is nice being able to get cars at wholsale price.

And if I can't make the payements for some reason, I can just sell the car and pay off the rest right? I mean there's nothing to lose, except my Topaz!!! HAHA......ok...

that can be a problem.. never plan on not paying it cause it would cost you more in the long run if you sold your car for payments.. if you're gonna take out a loan, take out however much you want to buy your car, then add $2000 to put towards insurance so that is taken car of.. trust me its HUGE when your monthly expenses add up, its good to not have a $250 payment on top of gas, booze and prostitutes..
for the line of credit, i don't know if it applies to CEGEP students. you'd have to as your bank.. but the beauty of it is that if you take out an $8000 student line of credit (thats the max in ONT) then its basically like a bank account.. you use however much you want, whenever you want.. for example, i went to my bank and got $6000 cash before i went to buy my car, just in case.. i ended up paying $5250, then put the other $750 back in.. when insurance was due, i sent them a $1900 payment from my line of credit.. mind you this is ALL online.. so i can pretty much say i deposited $8000 into my account.. but if i spend it, i have to replace every penny at 4.75% interest.. anyways, when you go in to your bank, ask if you would qualify for one, and if not, whats the best way to borrow money for a student working minimal hours.. but always remember, you have to pay for gas too.. and if you want to mod your car, thats a dent in your pocket.. just sit down and write everything out so that you know what you realistically have to spend every month.. that way you'll know if you can afford it by march or not.. (assuming you wait to buy in march cause a lot of 240s are away for the winter..)

I won'T be buying one until they come back out for sale, there's like 2 S14s now on autotrader in ontario and one in quebec lol, anyways, im ganna c, and my dad pays my insurance (hopefully for the 240 to) and i wont mod it, or ill include basic mods in the original price of the car. anywyas, thx for the info.

Was wondering, does this student credit thing only involve the bank? Or do I have to fill out this form with the government to prove I need the money for school?

in ontario, all you have to do is go to your bank, apply for one, get a co-signer along with proof that you are in school and they'll call you back a few days later telling you if you've been approved or not (you will be approved if your mom co-signs it..)
then all you gotta do is take the money out when you feel like it.. i actually had to go to 3 different branches cause each branch can't give out more than ballpark $2500 in a day.. and i didn't have my line of credit attached to my bank card, which you can do.. but i don't know how much you can take out of a bank machine.. just head in before the cars start popping up on autotrader and get the line of credit.. you'll be in debt but it'll be a non-stressful debt.. i find it better than having a loan cause then i know i don't have to pay $250 back automatically every month.. all i have to pay back is the interest..
so in the end, no its not the government.. just show that you're in school and have a co-signer and you'll get it

Ok, that's cool, I was thinking of doing one of those things they have on the radio, they give you pills and take blood tests for a weekend and you get 1000$, it would help pay the debt back quickly. I'll go this week to the bank to see what they say.

hold on a sec.. whats this pill and blood thing?? i'll be in mtl in an hour if its true.. honestly i'll do it..

They have these research things for new pills, they advertise on the radio, i need to be 18 tho so not before august, but they give you pills and such, you have to go to this lab for a whole weekend, they take blood tests like 6 times a day and after all that is over you get 500-1500 $ depending on who is doing the research, and you sign this thing saying nothing will happen to you, its pretty cool, my cousin did it once, he got like 1000$

ok get a phone number for me and i'll do it
i'm 100% serious

K, next time I hear about one I'll give you a number, the only one I've been hearing lately is for senior citizens.

wow how gold would that be.. just remember,i'm 21 now.. so if there's any age restraints, you know how old i am

It's usually 18. Oh and my dad is up for the idea of taking out this loan, he even said that if I have to prove I need it to just lie and screw it, lol. Anyways.......

all they'll ask for is like a letter of acceptance
do you have tuition in cegep?

It's 101$ a semester...lol But books are like 300-400$ a semester.

Ok, so I'm ganna go to the bank on Wednesday since I finish early, so I just wanna make sure I understand this thing you have, so it's like a bank account that they put let's say 8000$ into, you can move money in and out as you wish, and you pay interest on what you take out, and you have to have it payed back by the time you are out of school, right?

Oh, and what bank are you with?

my parents are willing to pay or help (depending on the cost of the car) as my graduation present =). . .im planning to join the USAF so hopefully school wont drain all my cash

thats pretty much what it is.. ask them about a 'student line of credit' and they'll probably know what it is.. and if they don't then tell them you want them to double check cause i'm sure they have them in qc.. i'm with td canadatrust

Ok, cool, thx alot, I'll see what they say, and I'll ask at both Banque de Montreal and Royal Bank sine I have an account in each of them.

good luck

So how many people in here are actually in post secondary school? i had my first 240 (95 se) bought by my dad's business as opposed to getting a 3 dollar raise, things turned sour when i quit, left that and totalled it the next winter. i dbout any insurance companies will insure me because i have 2 tickets but they'll be off the record in a year, when i finish robotics. With the 10g's i have right now i'll purchase a car when i'm finished school because u really can't party and have a sports car and go to college so i'll wait for my time, but that time will be sweet - next ride will be a r32 gtr - legal in canada :evillol:

i'm at carleton university

I'm at Dawson College.

I'm at Red River College

awsome! what courses are you guys taking? is it related to cars? or is this just a hobby?

hobby, i'm taking the computer analyst/programmer course right now

almost done, one more term to go!

awsome! i'm takin electrical engineering specifically in robotics... although i'd rather get more in to electronics.. i hope with all i learn i'd be able to apply some of the electronics principals we learn to cars. i wouldn't mind making custom ecu's - quick response electrical systems , anyone into automotive?

I'm in general social science, it's horribly lame, I'm taking english, psychology, french, western civ, humanities, etc. I HATE THIS!!!! I wanna take mechnical engineering, they have it at Dawson, they build a dune buggy as their final assignment it's awesome.

well u shold follow what u think would make u happy, because if u do something u hate that's a waste in education, time and money. poor me... i play with robotic arms, digital circuits, amplifiers, intergrating machines and computers... ... ... i hate this :evillol: :evillol:

Yeah, I wanna do it, but...I dunnoo...I'm ganna change for sure, but I dunno what yet, probably ganna go into mechnical something or other, only problem is there's no chicks down there, I hope I have course on the higher levels to. lol

i'm undeclared at carleton.. taking psychology, sociology, anthropology, linguistics.. basically everything.. i wanted to be in biology but i don't think i'm ready for that program right now. i wanna live while i can, work and put money into my car and have fun.. so i'm gonna go into the pre-service firefighter training next year and hopefully have a job within a year after that.. eventually, i'll go back and my goal is marine biology..
anyhoo there are tons of hot broads on campus.. i love it there.. our campus pub is one of the top campus pubs in north america in alcohol sales, which only means good times.. and since there's 4000 people that go there and live in residence (95% of whom are 18-19-20) there's always a good number of good lookin girls walkin around and in class.. i actually met my gf at our campus pub last year, and she lived in res.. wow what a story

ohhh u lucky mofo... i'm in a hick ass college, where most chicks r married to their dad's already and yes they have overalls n pitchforks... ... actually there r alot of good chicks there but i don't get the advantage of livin on campus... i'm 40 min commute away

shitty.. i can see some of the towers from my house!

Shit, my parents didn't help me out either. I'm lucky I have an older brother that looks out for me, so he co-signed on a loan for me. 6.25% interest over four years isn't too shabby for a 19 year old, my car payment is only $124 per month............... oh wait, did I forget to mention that my insurance is $246 a month?!?! Oh well.

Damn I feel special. My parents pay for insurance and my bro bought himself a BMW and gave me his "old" car. Got no problem with that. All I pay for is gas, registration(once a year), and speeding tickets. Thats sad that I get speeding tickets before I have ever done a mod to it like I want to.

D-Bo, I got a number, it's (514) 381-2546, it's in Montreal, they give between 500 and 1500$ each time. It's called Algorithme Pharma or something like that.

and thats for people my age??

As long as you're 18.

SWEET
i'll call tomorrow and let you know whats goin on

K, cool, I'm ganna do it as soon as I turn 18 in August...gotta do it alot to pay off the loan, which btw I went to the bank and said to call for information, guess they didn't take me seriously....bastards....anyways, I'll see if I can take out 10 grand, that would be good, and I think I can since I now have about 4000$ in my name.

how'd you get the 4 grand??

I have 1000$ in my savings account, 300$ in my checking account, 1000$ in my investement account, 700$ in stocks and it seems that my car is worth 1000$ if I clean it up a little, so that<s like 4000$

oooh don't spend your investments

I'm only going to spend the money from my Topaz and the money in my savings account, I'm just saying that I can show them that I have money, I can manage money, you know, the more money you have, the more they will give you, and for a 10 grand line of credit, with 4 grand I'm at the top of the list. I'm thinking, 8000$ for the car, 2500$ for rims/tires/lowering springs and GT-Spec exhaust (and header+test pipe if I can afford it), 500$ for registration, first inssurance payment, etc and 1000$ if shit happens (repairs and whatnot).

that would be wayyyy too risky for me.. i wouldn't plan on $1000 in case shit happens money.. i'd say at least $2000.. and first insurance payment isn't the only one.. has gas been paid for yet too?? slap on another $300 per month minimum for that

Actually, inssurance will be like 1000$ a year (yes, it's low) and my parents will pay part of it, gas isn't that bad, I'll be working alot so that will pay for gas and again, I will be working so if any other shit happens I'll pay for it then, I just won't drive the car until I have the money to fix anything that's wrong with it, besides I want to at least have it lowered, rims and exhaust, so....lol

whatever floats your boat.. if you think thats gonna work then do it.. what year are you gonna look for??