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Discussion Starter #1
I emailed a few of my local Ford dealerships and talked a bit about what I should do for my first car purchase. I am aware that I need a STABLE job and tomorrow I'm applying at Zellers (don't laugh) and I'm going to send another email back to the guy and here's what I sent him and what he sent me.

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Good day!

I was wondering if there are any good deals for someone who has not owned a vehicle before (16-yo teenager). I'm looking for a Focus ZX3 (possible SVT) that has preferably been pre-owned. I'm also probably going to mod it here and there so I'm also wondering if you sell different parts for the engine, dashboard, headlights, etc.

P.S. - Other deals from other dealerships (as oddly as it may seem to be asked this) would also be nice.

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Here's what I got back:

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Hello Andre-Philippe:

Thank you for inquiring at Evangeline Motors for you first car purchase.

An established credit is essential for the purchase of any vehicle, especially the model year you are looking for (2000 and up). In order to get approved for a bank loan for the purchase of a used vehicle, you, of course must have permanent steady employment and because of your age another person must co-sign. It might be possible to put you in an older model car, by using other sources of financing. ( Citifinancial or Trans Canada Credit for example). The interest rates at these institutions is considerably higher than the banks but if regular payments are made, then a good credit rating can be established.

It would be in your best interest to call me, Barry Lewis at 679-6663, so that I may make an arrangement for you to see our Financial Adviser, Ivan Brownell (25+ years in the banking business) to discuss the many financial options that you may have and thus determine what would be affordable.

P.S. Cost of car insurance must also be considered.

Thank you


Yours truly

Barry Lewis

Evangeline Motors Ltd
679-6663

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I need to get myself organized but I'm really looking into this.
 

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i didnt even have a job when i got my car. I had one starting a week after i got my car. All i had was a cosign. I traded my maxima and put another 2k down and payments were 194 a month. I forget what % i got. I was making 6 bucks and hour and had no problem paying for the car. Just dont get in over your head.
 

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Discussion Starter #4
And how does the co-sign thing work?

And what about Citifinancial or Trans Canada Credit... what is that?
 

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And how does the co-sign thing work?

And what about Citifinancial or Trans Canada Credit... what is that?
yeah you don't have to have crap for a job as long as you get a co-signer, like your parents or something- what that means is that they are financially responsible for the car if you choose to not pay on it.

as far as Citifinancial or Trans-whatever, he probably mentioned those because they are 3rd party loan companies. in other words, if your credit isn't good enough yet to get a loan from Ford Credit for a new car, he could probably set you up in an older car with one of those companies giving you the loan.

also, car salesman will usually never ever tell you about a better deal somewhere else. and as far as asking them about modding it, i would ask us instead
...aside from not being very knowledgable on what parts they sell (when you go to a dealer, your best bet is to go with an actual part # if you want something they sell), you would probably get misinformation from them regarding your warranty.

honestly, you're gonna pay thru the roof for a loan, unless you have a parent or someone sign for it. that's what my parents did for me, and i got a good rate because they have good credit, and i had jack for credit when i was 19 and bought my Focus. the thing is, if you screw up on payments, you ruin your parents credit, which would suck majorly for all involved (they would probably never let you borrow money again.)

so, my suggestion, would be to get a job, and for a month or two or three, put aside the amount of money it would cost to operate your car on a monthly basis. we'll say, ohhh $300 for a car payment (yours will vary, but play it safe for this), $20 a week for gas or whatever, and what it would cost for a monthly payment of insurance. that way you'll get an idea of how much you'll be able to pay towards a car (or how much you'll be able to work to afford it).

...for the average job, to be able to afford a car and still have a bit of spending money, while going to school, you're gonna probably want to work about 20 hours a week, if not a little more. and even then money might be kinda tight to afford a newer car.

but i did it, although it was cuz i had a low interest rate with my parents cosigning. just make sure you think about how important it is to have a new car at your age, versus having free time and spending money.

i'm 22 now, so i'm not some old fogey giving you advice ha ha. my friend's little brother is 18 and bought a WRX, and he goes to school full time, and he has to work his ass off to afford it, so he never has money for other stuff, and never has free time cuz he's working.

suggestion: buy a '00-'01 Focus for like $8,000, and be happy with your extra spending money and free time.
 

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And how does the co-sign thing work?

And what about Citifinancial or Trans Canada Credit... what is that?
A co-signer basically gives the bank (or whoever) someone to get their money from if you don't pay. In your case it would probably be your parents.

Citifinancial and Trans Credit are VERY HIGH interest rate lenders who specialize in lending money to high risk people.
 

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Discussion Starter #8
High-risk? lol

I'm starting to get it, but what if my parents don't want to sign?! I mean, they're always on my back about everything and never let me do anything anyway.
 

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Then you be screwed!!! Get a rich girl friend!!!
 

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High-risk? lol

I'm starting to get it, but what if my parents don't want to sign?! I mean, they're always on my back about everything and never let me do anything anyway.
get a job, and work hard, and prove to them that you are responsible, and show them the breakdown of what you make versus what you'll be paying on the car, and how much money you'll have left over, etc etc. if you have a plan and show them that it's well thought-out and can prove that it will work, it's much better off than just begging them to co-sign with them lacking confidence in your abilities to pay on the loan regularly.
 

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Discussion Starter #11
Yeah... But I mean, just today at work I parked the car against a sand dune and misjudged the slope of the sand and stuck the bottom part of the bumper into it (Volkswagon Jetta TDI 1999). I feel so stupid
 

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It's going to be hard to afford to drive a new car, working part time for a low wage.

If you can, see if you can get financed through Ford Credit for 0% (you'll need your parents or someone to co-sign). They usually have specials on end-of-year models they want to clear off the lot for the new models coming in.

But if you arent positive you can make all your payments, and still afford your current standard of living.. then reconsider buying a new car, until you've saved up a good sized downpayment, and possibly some extra to fall back on. The last thing you want is to screw up your parents credit..
 

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Discussion Starter #13
I just told dad about driving the car into the sand...


Turns out he just washed the car
that actually made it funny

Then he brought up the time we went by each other (I was going to work with the car, he was going home with the van) and asked me "Don't you need 2 hands to drive a car?" cuz i had my left arm out the window and he also asked me how fast I was going and I said 60 (km/h in a 50 zone) and he said wasn't 50 for sure and I told him "of course it wasn't, I JUST told you how fast I was going!
" then my mom got involved and kept telling me that speed limits are for a reason - and frig, like she'd know - she gets pulled over every second time I'm in the car with her.

"One of the first things they teach you in Driver's Ed is where to put your hands on the steering wheel. They tell you to put them at ten o' clock and two 'o clock. [censored]! I put mine at 9:45 and 2:17. ... Gives me an extra half-hour to get where I'm goin'."
 
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