Go Back   The Finance Forums: Financial planning, debt help, loans, mortgages, retirement and 401k, investment, and general finance discussion forums > Finance forums > Personal Loans


Personal Loans Discuss personal loans, secured and unsecured, and general borrowing.

Reply
 
Thread Tools
  #1 (permalink)  
Old 04-29-2008, 04:54 AM
kyle_w kyle_w is offline
Junior Member
 
Join Date: Apr 2008
Location: alaska usa
Posts: 1
Default buying an older car 1993

I am trying to buy a 1993 audi v8 from a friend and I can not afford the amount at once. I can afford the monthly payments tho. Banks will not lend me the money because of age. Any way to get the money around $4000 for the car that I can make payments on? I have no credit because of my age 19. Thanks.
Reply With Quote
  #2 (permalink)  
Old 04-30-2008, 02:22 AM
AllThingsPersonalFinance AllThingsPersonalFinance is offline
Member
 
Join Date: Apr 2008
Location: GA, USA
Posts: 69
Default Re: buying an older car 1993

Quote:
Originally Posted by kyle_w View Post
I am trying to buy a 1993 audi v8 from a friend and I can not afford the amount at once. I can afford the monthly payments tho. Banks will not lend me the money because of age. Any way to get the money around $4000 for the car that I can make payments on? I have no credit because of my age 19. Thanks.
First, buy another car. Consider the reliability and expenses of repair for a 15 year old Audi. See how much it costs for basic repairs - brakes, starter, heater, timing belt, AC. For $4k, you can find something better. Get a newer Toyota or Honda for about $4000-$5000. Not likely to break down as much and are cheaper to fix.

Work and save your money. Pay cash.

When you consider the price of the car, don't look at the payments. Look at the cost of the car. If $4k is your budget, look at those cars. Car salesmen can work magic to put you into debt that is unwise and can be unmanagable.
Reply With Quote
  #3 (permalink)  
Old 05-05-2008, 03:59 PM
imolina imolina is offline
Junior Member
 
Join Date: Apr 2008
Location: Spain
Posts: 7
Default Re: buying an older car 1993

I think that if you have an guarantee (like your mother or someone with enought revenues) any bank can lend you the money that you need. Consult 2 or 3 banks.
__________________
Mortgages in Spain
Reply With Quote
  #4 (permalink)  
Old 05-07-2008, 03:58 AM
maat55 maat55 is offline
Member
 
Join Date: Mar 2008
Location: USA
Posts: 98
Default Re: buying an older car 1993

Quote:
Originally Posted by imolina View Post
I think that if you have an guarantee (like your mother or someone with enought revenues) any bank can lend you the money that you need. Consult 2 or 3 banks.
Save cash and buy a newer more reliable car. Even if the audi were reliable, you should only pay cash. I would give anything to have the knowledge I have now at your age. Never borrow money for a car.

You can learn more in a short period of time about managing money and becoming wealthy by reading a few books, now. I suggest these books:

The Total Money Makeover by Dave Ramsey
Financial Peace by Dave Ramsey
The Millionaire Next Door
Master your Money by Ron Blue
The Wealthy Barber

These books have a common theme about remaining debtfree and investing. It doesn't matter how much you earn, you can be wealthy. Good luck. Sorry Imolina, this post was for Kyle.

Last edited by maat55; 05-07-2008 at 04:00 AM.
Reply With Quote
  #5 (permalink)  
Old 05-22-2008, 05:39 AM
shahab6 shahab6 is offline
Junior Member
 
Join Date: Apr 2008
Location: los angeles
Posts: 17
Default Re: buying an older car 1993

You might find aauto dealer that would give you the loan if you buy from them
Reply With Quote
  #6 (permalink)  
Old 05-22-2008, 09:52 PM
spencer24 spencer24 is offline
Member
 
Join Date: May 2008
Location: US
Posts: 52
Default Re: buying an older car 1993

"15 years old" and "Audi" in one sentence - this sounds scary . Seriously consider buying another car, as this one will be a money drain...
__________________
Never spend your money before you have it. -- Thomas Jefferson
Reply With Quote
  #7 (permalink)  
Old 05-22-2008, 11:12 PM
Jerrydill Jerrydill is offline
Junior Member
 
Join Date: May 2008
Location: Iowa, USA
Posts: 29
Default Re: buying an older car 1993

Everyone else's device is wise, however if you still want the car it would be wise to ask family or friends for the money. Since you are 19 I am assuming you don't have much credit, so loans are probably out of the question.
__________________
Payday Information
Reply With Quote
  #8 (permalink)  
Old 05-23-2008, 07:58 AM
sahilmiddha sahilmiddha is offline
The Finance Forums
 
Join Date: May 2008
Location: luhiana,india
Posts: 44
Default Re: buying an older car 1993

i think that if you have an guarantee of your father or someone any bank can give you money.
Reply With Quote
  #9 (permalink)  
Old 11-04-2008, 10:18 AM
JamesMartin JamesMartin is offline
Junior Member
 
Join Date: Nov 2008
Location: Oregon
Posts: 4
Default Re: buying an older car 1993

loook up hard money loans on the internet.
Reply With Quote
  #10 (permalink)  
Old 11-06-2008, 02:18 AM
pants711 pants711 is offline
Member
 
Join Date: Oct 2008
Location: San Francisco, CA USA
Posts: 58
Default Re: buying an older car 1993

A 15 yr. old Audi V8 from a friend. Hmmm....High gas prices, expensive imported parts and labor, arguments w/friend about the lemon he sold you.

Buy a bicycle.
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


» Boards




All times are GMT +1. The time now is 08:22 PM.


Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2009, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.0.0 ©2007, Crawlability, Inc.