@@threethirtynine1514so you wouldn’t help your child and teach them how to build their credit up. Jeez no wonder why kids don’t have respect these days how can I respect someone who does bare minimum. Hopefully the next generation can fix the bad parenting that is common in the last one
@@gamingkid3088 entitled mindset. Not every parent has the capabilities to “set their child up financially”. It has nothing to do with respect levels. Their are well mannered children from each generation and disrespectful children from each generation. But Im sure you were the perfect child growing up and never showed any signs of disrespect.. 😉
Correct, it is not the responsibility of your parents to set up you up financially. It is their responsibility to set you up for financial success though. Just like how your parents are the ones to teach you how to conduct yourself, embed their morals onto you, and the basic necessities like wiping your ass and brushing your teeth, the same is true when it comes to finances. No, your parent should not be handing you 10 grand, that would be entitlement. But they should be teaching you the financial system, how to navigate it, and trying their best if possible, to get you a head start in life. As for your response to the other commentor. It is not entitled in the slightest to believe that your parent should teach you how to build your credit up for the reasons I mentioned previously. You saying that it's entitled to think that way shows your dad went to get milk because only someone fatherless would have such a shitty "pull yourself up by the bootstraps" take.@@threethirtynine1514
Bought my 1st car 4 years ago and this is exactly what I did, basic hatchback, great fuel and reliable nothing fancy and my credit score Booming now, great video and tips for sure
Thanks for this wonderful video... here is what I understood :) 1. Importance of Decision-Making: - Emphasizes the significance of making informed decisions when buying a first car. - Highlights the lack of education on crucial aspects like home and car purchases in traditional schooling. 2. Determining Budget: - Stresses the importance of establishing a budget before heading to a dealership or searching for a car. - Advises on understanding monthly payments based on net income and recommends staying within a specified budget range. 3. Setting Realistic Expectations: - Encourages buyers to focus on essential factors such as reliability, affordability, and credit improvement rather than luxury features. - Suggests a budget range of $10,000 to $15,000 for a first car, considering individual needs and financial circumstances. 4. Bringing a Qualified Co-Signer: - Recommends bringing a co-signer with a credit score of 750 or higher and a strong credit history. - Explains how having a co-signer can significantly reduce interest rates, potentially saving thousands of dollars on the loan. 5. Significant Down Payment: - Emphasizes the importance of making a substantial down payment, considering it as an investment. - Advises that a larger down payment increases the likelihood of loan approval with lower interest rates and payments. 6. Credit Building and Own Financing: - Advocates for building a credit history from an early age by becoming a signee on credit cards. - Recommends establishing a relationship with a local bank or credit union for favorable financing terms when ready to purchase a car.
I turned 18 10 days ago and I also plan on gettin ma first car. I’m gonna start small and then build up to buyin a car. Then, I’m gonna go to buyin a house. Just one lil thing at a time.
I have a 701 FICO8 score and was approved with Honda Financial for their lowest rate of 4.9% for 60 months. Yes, I did have a significant amount to put down, but you can get the best rate without having a super high score.
I'm 42 ,on disability , I financed my first car 3 weeks ago put $4k down on a 2020 chevy trax $19,700 no co-signer needed cuz I work with my bank and built a 650 credit score payment $384 a month
that's awesome. If you don't deal with a local bank or credit union START NOW! These big banks don't care about us.Change your checking, savings, etc over now and after 6 payments hit your report approach them to refinance. make sure you don't tack on extra time. for example if you financed 72 months and have paid 6 payments, don't sign another contract for 72 months. only do it for 60 mos or 66 mos.
I got the load thru credit union , I just opened a savings account with Huntington ( my regular bank ) lady told me they sometimes run really low apr% on refinance so I'll wait till September n see what she can do after 6 month . I'll knock it to 60 months ( save me 6 months payments) not sure how much that will save per month but 6 mo x $384= $2304 of not paying ... not sure how to calculate it tho....
1.figure out what is important to you when buying ur first car {no braking down,good milage,safety, cost of maintenance} 2. Bring someone with a 750 credit score( has had credit for 10+ years) 3.put big money down(when you bring 500-1k){that's considered a down payment} (when u bring 20%-30% thas considered an investment)(increase ur chances of a yes) 4.ask ur parents is u can sign on their credit score so that u can have good credit history 5.use ur own financing (making a relationship with the bank)
My life is already messing up right now. Can't use either emails to get into any credit app, can't find a car or save up money quickly, but I'm watching this for when I do get my life together
Pay a fair price for the vehicle. Market adjustment fee is just another way for a dealership to make money. Tax title and license. No add-on money makers for the dealerships. They will try. Fund set aside for upkeep. Insurance with mom and dad. Cosigner could end up paying for the vehicle in the end. Take care of the vehicle and drive safely.
Guys, just buy a 5k to 8k car and be happy, no payments, no 20k bill from him, 5k-8k is the sweet spot for cars. Dealers just dont make money off that area of pricing so they wont recommend it. Find dealers that sell cars between 4k-9k, youll find much better vehicles you can afford.
I’d sell 100 5-9k cars per month if I could find dependable and reliable ones. Anything under 7k is pretty rough nowadays. Plus this doesn’t help a young persons craig get Built up
Problem is, a 5-8k car thats not a complete POS is getting rare as a family home in a good school district for less than a quarter mil. Only option is to let the market burn itself down and then buy.
I’m 18 and about to move to college and unfortunately I have the feeing my 20 year old car with 230,000 miles on it won’t be reliable enough for me to make the long trips that will come with me moving away. About to buy my first car in a few weeks, just something reliable and fuel efficient (already know exactly what I’m going for) and aiming for 14-15k max. I have my own credit card and have over a 740 score. Going to be putting at least a 20% down payment. Only have had one job and going on my third year of working with them. Bringing my dad to cosign with me as he’s got a way better score than mine. Hoping to get a low interest rate
As well as different types of ways to handle money in everyday life. I alr know abt a bank statement: history of the amount of money that is spent. And I also know about checking accounts (kinda). I got a long way to go tbh lol.
Could you break down how payments and interest rates are calculated? Every online payment calculator gives different numbers on all aspects. Buying a new used car soon and this has always been one area dealership try to slip things past me so i wanna be ahead of the game.
This video had a lot of great information that I definitely feel I could use. Only thing is, my family doesn't have a good credit history. So what would you suggest for saaaayy a 23 year old who actually just got approved her first credit card after trying since 19y.o., with no cosigner and a fair credit score? 😅
On #4 "Bring a co-signer". You forgot rule #1 of credit: "Never ever ever never co-sign a car loan for anyone. Not son, not daughter, not grandchild, not friend, not child of friend. NOBODY."
The cosigner doesn't voluntarily want to be in a position to make payments on a car they don't own, want to try to take back or sell when times turn rough. My hands are broken. A tax refund makes a great deposit along with the "Daddy 401" savings match of 25-50% to the kid as an incentive feeding the piggy bank if in a position to do so. However, "Authorized user" on a credit card from an 800+ fico with a fat file at year prior is the best I can come up with. Had a local smaller bank decline a kid with $3,000 monthly income even for a $500 secured card. Banks are getting paranoid it seems lately. Hearing and seeing repo's but our auto auctions are still only chucking out wrecked vehicles in SW Ohio. However, did score deals with rebuilt titles that were correctly fixed. Can't see much a difference between 3rd or even a 4th owner versus a rebuilt in price.
@@Funexpected Why not cosign? Easy. 1) Banks--who are experienced at assessing risk of the borrower--have determined that the buyer is too large of a risk. Instead of cosigning you might as well just give them the money, because most likely they will NOT keep the payments up. 2) Family experience. FIL cosigned for his nephew on a yellow sports car. Kid made 4 payments and none afterwards. 3) My wife worked in the repo department of GE Capital car loan division. She said 75% of the repos she handled had a cosigner on the loan. Usually a parent or a sibling. The kid with basement-level credit score bought a car and needed a cosigner, stopped making payments, and got the credit of the parent/sibling ruined.
Happily co-signed and am making 0% interest rate payments on the car we bought our daughter to help build her credit. We chose to do this instead of paying cash.
I’m in my early 20s and got my first professional job. I’m planning on getting a small hatchback car to start with low insurance. Then I’m probably going to save up for a Tesla and buy in full one day after I get a small house started.
I feel frustrated with my sister who bought a gently used late model car a month ago. She bought a 2021 bland sedan compact car. She was excited to tell me. "I can't believe how low the payment is. It's only $350 a month." What she fails to realize is how big a chunk of $1500 a month cash flow that is. She was so determined to get a "more beautiful" car as soon as possible after she sent in the last payment on her previous car.
@Thomas B Buying a car is rarely a hyper rational decision for an American. The person wants a status symbol, something that will look good to a potential romantic partner. something that makes them look like their favorite movie star, or OR just has more acceleration power.
I'm 34, been driving a 2007 f150 for the last 5 years, befor that a f150 2001. I never bought new, but looking to do my first purchase. Have great credit, but still hasendent on buy something new
Is it better to request a loan from the bank totalling the cost of the car? Or is it better to just put a sizeable downpayment and make the monthly payments?
Hi! I’m in the process of purchasing my first car now. My new 2023 ford maverick just arrived. I told the dealer I have my own financing. Working with the sales manager at the dealership he hit my with a 11.6% apr. I gave him push back and about 1 hour later he say oh this bank got back to me and the rate is now half. Can you review my invoice?
Lawyers for Americans All numbers from a car dealer are useless, most are made up. What you want to know is the total amount for the new car when paying cash, in other words, the amount that you put on the check and is this amount with or without tax. The amount should be agreed to by both parties and including the vin number before you go into a dealership. You have to decide whether this is a fair price. 1. Objectives : Establish total or the check amount price is with or without tax and with the vin number 2. Alternatives : Find dealership with base models in stock or in route that have listed the correct MSRP and a less insane destination. No destination should be over 600 in your calculations. You can travel great distances, to almost any dealer due to insane markups. 3. Offer or Counter Offer: Calculate your offer Copy this into your email.
Quick someone do the math for me and explain I have $5k saved I’m trading in my car also(it’s paid off) . Let’s say it’s valued at 2k minimum Car I’m looking at is 30k with all taxes title and fees included Credit is between 650-700 QUICK EXPLAIN HOW TO BUY THE CAR *never bought my own before. Parents bought mine right after I graduated…parents aren’t living so I’m going in blind 😅*
@thomasb282 It works if you are the kind of person who would work 20 hours a day rather than miss a payment. A lot of people with challenged credit are not like that
I told the dealer I'm not paying for all the upsell accessories.. not paying 2k for rear view mirror dimmer all weather rugs a d all the other msrp top dollar pointless things.... and im on my 20th car.. not worth the money..
I personally have a 750 at 19 should I still have a co sign? I only ask bc that’s kinda hard for me to do closest person that could do that for me is a 1000 miles away
Yeah, my first car was a 1989 Blazer probably worth any 200 bucks back when I was in HS in 1999. 2 different color doors and tons of rust. Why does everyone have such nice first cars now lol.
Because he wants you to pay more like all dealers, get a 5k car and be happy, dont believe what these youtube dealers say. They dont make much money off those lower priced cars its that simple. more you pay more they make
@@thomasb282 you mean a $300k home? It's called manual underwriting where a bank or credit union looks at your actual finances and gives you a mortgage that way
Your insurance company thinks otherwise. So does your electric, gas, cell phone provider, some employers, lanloards, etc. So yes you need a credit score in the USA 100%.
Hold on. Did you just suggest signing up teenagers for credit cards? That sounds like planting debt-worshipping in an individual from an early age, doesn't it?
are you out of your MIND i would not risk my 825 fico score for some 18-20 year old that may or MAY NOT PAY THAT LOAN OR MAKE LATE PAYMENT'S. RUIN ME YA RIGHT,THAT WILL HAPPEN THE FOURTH OF NEVER.....
Me watching this at 29 trying to get my first car. My parents never set me up financially so I'm slowly building up my credit
It’s not their responsibility to set you up financially.
@@threethirtynine1514no, but good parents do tend to. don’t be obtuse
@@threethirtynine1514so you wouldn’t help your child and teach them how to build their credit up. Jeez no wonder why kids don’t have respect these days how can I respect someone who does bare minimum. Hopefully the next generation can fix the bad parenting that is common in the last one
@@gamingkid3088 entitled mindset. Not every parent has the capabilities to “set their child up financially”. It has nothing to do with respect levels. Their are well mannered children from each generation and disrespectful children from each generation. But Im sure you were the perfect child growing up and never showed any signs of disrespect.. 😉
Correct, it is not the responsibility of your parents to set up you up financially. It is their responsibility to set you up for financial success though. Just like how your parents are the ones to teach you how to conduct yourself, embed their morals onto you, and the basic necessities like wiping your ass and brushing your teeth, the same is true when it comes to finances. No, your parent should not be handing you 10 grand, that would be entitlement. But they should be teaching you the financial system, how to navigate it, and trying their best if possible, to get you a head start in life. As for your response to the other commentor. It is not entitled in the slightest to believe that your parent should teach you how to build your credit up for the reasons I mentioned previously. You saying that it's entitled to think that way shows your dad went to get milk because only someone fatherless would have such a shitty "pull yourself up by the bootstraps" take.@@threethirtynine1514
Bought my 1st car 4 years ago and this is exactly what I did, basic hatchback, great fuel and reliable nothing fancy and my credit score Booming now, great video and tips for sure
Thanks for this wonderful video... here is what I understood :)
1. Importance of Decision-Making:
- Emphasizes the significance of making informed decisions when buying a first car.
- Highlights the lack of education on crucial aspects like home and car purchases in traditional schooling.
2. Determining Budget:
- Stresses the importance of establishing a budget before heading to a dealership or searching for a car.
- Advises on understanding monthly payments based on net income and recommends staying within a specified budget range.
3. Setting Realistic Expectations:
- Encourages buyers to focus on essential factors such as reliability, affordability, and credit improvement rather than luxury features.
- Suggests a budget range of $10,000 to $15,000 for a first car, considering individual needs and financial circumstances.
4. Bringing a Qualified Co-Signer:
- Recommends bringing a co-signer with a credit score of 750 or higher and a strong credit history.
- Explains how having a co-signer can significantly reduce interest rates, potentially saving thousands of dollars on the loan.
5. Significant Down Payment:
- Emphasizes the importance of making a substantial down payment, considering it as an investment.
- Advises that a larger down payment increases the likelihood of loan approval with lower interest rates and payments.
6. Credit Building and Own Financing:
- Advocates for building a credit history from an early age by becoming a signee on credit cards.
- Recommends establishing a relationship with a local bank or credit union for favorable financing terms when ready to purchase a car.
I’m 18 just paid for my first brand new car in full, this video was very helpful! Thank you
how much did you pay and which car did you get? I'm thinking of paying in full too (Corolla Cross)
I turned 18 10 days ago and I also plan on gettin ma first car. I’m gonna start small and then build up to buyin a car. Then, I’m gonna go to buyin a house. Just one lil thing at a time.
I’m 25, on my 4 vehicle and still much to learn appreciate the help
As a Car Consultant, Thank You CD for all the tips of the trade. It really does help as i use some of what you say to my customers.
I have a 701 FICO8 score and was approved with Honda Financial for their lowest rate of 4.9% for 60 months. Yes, I did have a significant amount to put down, but you can get the best rate without having a super high score.
60 months lmfao
@bhaalgorn It's paid off pimp! 😎
@@shojus good shit m8
@@bhaalgorn 👌🏻
I work for a power company. When the weather gets bad, that's when we get busy. I have and need 4wd
I'm 42 ,on disability , I financed my first car 3 weeks ago put $4k down on a 2020 chevy trax $19,700 no co-signer needed cuz I work with my bank and built a 650 credit score payment $384 a month
In 6 months I'll refinance for better interest rate than 12.99% APR
that's awesome. If you don't deal with a local bank or credit union START NOW! These big banks don't care about us.Change your checking, savings, etc over now and after 6 payments hit your report approach them to refinance. make sure you don't tack on extra time. for example if you financed 72 months and have paid 6 payments, don't sign another contract for 72 months. only do it for 60 mos or 66 mos.
I got the load thru credit union , I just opened a savings account with Huntington ( my regular bank ) lady told me they sometimes run really low apr% on refinance so I'll wait till September n see what she can do after 6 month . I'll knock it to 60 months ( save me 6 months payments) not sure how much that will save per month but 6 mo x $384= $2304 of not paying ... not sure how to calculate it tho....
Hi I'm 40 years old and I'm buying
1.figure out what is important to you when buying ur first car
{no braking down,good milage,safety, cost of maintenance}
2. Bring someone with a 750 credit score( has had credit for 10+ years)
3.put big money down(when you bring 500-1k){that's considered a down payment} (when u bring 20%-30% thas considered an investment)(increase ur chances of a yes)
4.ask ur parents is u can sign on their credit score so that u can have good credit history
5.use ur own financing (making a relationship with the bank)
My life is already messing up right now. Can't use either emails to get into any credit app, can't find a car or save up money quickly, but I'm watching this for when I do get my life together
Damn I should’ve watched this when I was 11
Pay a fair price for the vehicle. Market adjustment fee is just another way for a dealership to make money. Tax title and license. No add-on money makers for the dealerships. They will try. Fund set aside for upkeep. Insurance with mom and dad. Cosigner could end up paying for the vehicle in the end. Take care of the vehicle and drive safely.
Guys, just buy a 5k to 8k car and be happy, no payments, no 20k bill from him, 5k-8k is the sweet spot for cars. Dealers just dont make money off that area of pricing so they wont recommend it. Find dealers that sell cars between 4k-9k, youll find much better vehicles you can afford.
I’d sell 100 5-9k cars per month if I could find dependable and reliable ones. Anything under 7k is pretty rough nowadays. Plus this doesn’t help a young persons craig get Built up
Problem is, a 5-8k car thats not a complete POS is getting rare as a family home in a good school district for less than a quarter mil. Only option is to let the market burn itself down and then buy.
yeah, that’s what you do to your 16 year old for their first car. invest in something better for yourself
@@mikes.6251you sound slow
All those cars have 100,000+ miles should I be concerned?? If I need to get the transmission changed or sum ??
Thank you for your videos I wish these videos were available 20 years ago.
Thanks big Mike, this video made it more simpler and less exhausting, thanks for the tips, very helpful👍
Good stuff as always Mike!
I’m 18 and about to move to college and unfortunately I have the feeing my 20 year old car with 230,000 miles on it won’t be reliable enough for me to make the long trips that will come with me moving away. About to buy my first car in a few weeks, just something reliable and fuel efficient (already know exactly what I’m going for) and aiming for 14-15k max. I have my own credit card and have over a 740 score. Going to be putting at least a 20% down payment. Only have had one job and going on my third year of working with them. Bringing my dad to cosign with me as he’s got a way better score than mine. Hoping to get a low interest rate
Unfortunately, I couldnt get into the credit system until I became of 22yo, yet still, these are genuinely good advices. Thanks for a good vid
They should really teach us these important things in school
As well as different types of ways to handle money in everyday life. I alr know abt a bank statement: history of the amount of money that is spent. And I also know about checking accounts (kinda). I got a long way to go tbh lol.
Got me at bringing a cosigner. Not an option for me unfortunately but need a car regardless
Could you break down how payments and interest rates are calculated? Every online payment calculator gives different numbers on all aspects. Buying a new used car soon and this has always been one area dealership try to slip things past me so i wanna be ahead of the game.
This video had a lot of great information that I definitely feel I could use. Only thing is, my family doesn't have a good credit history. So what would you suggest for saaaayy a 23 year old who actually just got approved her first credit card after trying since 19y.o., with no cosigner and a fair credit score? 😅
On #4 "Bring a co-signer". You forgot rule #1 of credit: "Never ever ever never co-sign a car loan for anyone. Not son, not daughter, not grandchild, not friend, not child of friend. NOBODY."
You didn't even explain why
The cosigner doesn't voluntarily want to be in a position to make payments on a car they don't own, want to try to take back or sell when times turn rough. My hands are broken. A tax refund makes a great deposit along with the "Daddy 401" savings match of 25-50% to the kid as an incentive feeding the piggy bank if in a position to do so. However, "Authorized user" on a credit card from an 800+ fico with a fat file at year prior is the best I can come up with.
Had a local smaller bank decline a kid with $3,000 monthly income even for a $500 secured card. Banks are getting paranoid it seems lately. Hearing and seeing repo's but our auto auctions are still only chucking out wrecked vehicles in SW Ohio. However, did score deals with rebuilt titles that were correctly fixed. Can't see much a difference between 3rd or even a 4th owner versus a rebuilt in price.
@@Funexpected Why not cosign? Easy. 1) Banks--who are experienced at assessing risk of the borrower--have determined that the buyer is too large of a risk. Instead of cosigning you might as well just give them the money, because most likely they will NOT keep the payments up. 2) Family experience. FIL cosigned for his nephew on a yellow sports car. Kid made 4 payments and none afterwards. 3) My wife worked in the repo department of GE Capital car loan division. She said 75% of the repos she handled had a cosigner on the loan. Usually a parent or a sibling. The kid with basement-level credit score bought a car and needed a cosigner, stopped making payments, and got the credit of the parent/sibling ruined.
So you want your child to get a crappy car at 25%???
Happily co-signed and am making 0% interest rate payments on the car we bought our daughter to help build her credit. We chose to do this instead of paying cash.
I’m in my early 20s and got my first professional job. I’m planning on getting a small hatchback car to start with low insurance. Then I’m probably going to save up for a Tesla and buy in full one day after I get a small house started.
Yes!!!!!! i want a Camaro its why im here!!!!!
What if I don’t have a co signer?
Currently 19 with a 770 Credit Score Im looking to buy a 2021 GT need sum advice
Buying my first car at the end of the month I built my credit first I’m at a 733 and still going..
Same here gotta 760 been building for a few years an gonna bring 10-15% down for a dp.
I feel frustrated with my sister who bought a gently used late model car a month ago. She bought a 2021 bland sedan compact car.
She was excited to tell me. "I can't believe how low the payment is. It's only $350 a month." What she fails to realize is how big a chunk of $1500 a month cash flow that is.
She was so determined to get a "more beautiful" car as soon as possible after she sent in the last payment on her previous car.
@Thomas B Buying a car is rarely a hyper rational decision for an American. The person wants a status symbol, something that will look good to a potential romantic partner. something that makes them look like their favorite movie star, or OR just has more acceleration power.
@Thomas B you what else is dumb leasing a car.
I'm 34, been driving a 2007 f150 for the last 5 years, befor that a f150 2001. I never bought new, but looking to do my first purchase. Have great credit, but still hasendent on buy something new
Is it better to request a loan from the bank totalling the cost of the car? Or is it better to just put a sizeable downpayment and make the monthly payments?
Probably both. You don’t have to use the entire loan you get from the bank. Putting down a down payment reduces the amount you pay back with interest
Bring a cosigner with WHAT 😂 my parents and family have like 200 credit score combined 😂
Hi! I’m in the process of purchasing my first car now. My new 2023 ford maverick just arrived. I told the dealer I have my own financing. Working with the sales manager at the dealership he hit my with a 11.6% apr. I gave him push back and about 1 hour later he say oh this bank got back to me and the rate is now half. Can you review my invoice?
Happy Monday Mike…!
Happy Monday 😎
Im 17 and need that scat pack
I’m planning on getting a ford mustang 2024 as a first car it’s fun it’s fast the most important things.
Lawyers for Americans
All numbers from a car dealer are useless, most are made up. What you want to know is the total amount for the new car when paying cash, in other words, the amount that you put on the check and is this amount with or without tax. The amount should be agreed to by both parties and including the vin number before you go into a dealership. You have to decide whether this is a fair price.
1. Objectives : Establish total or the check amount price is with or without tax and with the vin number
2. Alternatives : Find dealership with base models in stock or in route that have listed the correct MSRP and a less insane destination. No destination should be over 600 in your calculations. You can travel great distances, to almost any dealer due to insane markups.
3. Offer or Counter Offer: Calculate your offer
Copy this into your email.
Quick someone do the math for me and explain
I have $5k saved
I’m trading in my car also(it’s paid off) . Let’s say it’s valued at 2k minimum
Car I’m looking at is 30k with all taxes title and fees included
Credit is between 650-700
QUICK EXPLAIN HOW TO BUY THE CAR
*never bought my own before. Parents bought mine right after I graduated…parents aren’t living so I’m going in blind 😅*
RIP❤❤❤
What about insurance
I just want a reliable car I can go to work in, good fuel economy and low maintenance
Do not have a grandparent cosign. Parent is one thing, grandparent is another. Same with friends.
@thomasb282 It works if you are the kind of person who would work 20 hours a day rather than miss a payment. A lot of people with challenged credit are not like that
I told the dealer I'm not paying for all the upsell accessories.. not paying 2k for rear view mirror dimmer all weather rugs a d all the other msrp top dollar pointless things.... and im on my 20th car.. not worth the money..
I personally have a 750 at 19 should I still have a co sign? I only ask bc that’s kinda hard for me to do closest person that could do that for me is a 1000 miles away
You may need a co signer of income is low depending on car you want.
Good advice
financing your first car i just stupid and 10-15k for a first car is just ridiculous!!
So what if i got bad credit and no co signer?
Ive don't have a credit score. The hell am I supposed to do?
My credit is decent, the down payment is probably the hardest part.
Downpayment is the easiest part. The struggle begins when you pay for the car monthly plus interest rates.
Ty MCS!
Thank you sir
Chauncey Crest
#8 buy from your girlfriend's Father who is the Sales Manager at a Mazda dealership, 1973.
You don’t need to pay a down payment it doesn’t even go towards your car payment 🤷🏾♂️ it’s pocketed by the salesperson
1000% not true.
Huh
Donato Springs
where do I find a 15k car?
facebook market , carmax , carvana
This economic usa is so strange to european.
even as an american it's strange, i really wish it was like yalls economic system bahaha
Awesome
Why not a $5,000-$10,000 for a first car?
Yeah, my first car was a 1989 Blazer probably worth any 200 bucks back when I was in HS in 1999. 2 different color doors and tons of rust. Why does everyone have such nice first cars now lol.
Cause he sells $15k cars
Because he wants you to pay more like all dealers, get a 5k car and be happy, dont believe what these youtube dealers say. They dont make much money off those lower priced cars its that simple. more you pay more they make
Times have changed a lot. The likelihood of find a dependable and reliable car is extremely low. A 5k car nowadays brings nothing but problems.
@@MikesCarStore ok. I was wondering if that's why. I'm guessing a $500 car 35 years ago is a $5,000 car nowadays. 👍👍
Koss Shores
Lonny Mountains
Jacob Dover
Caden Ports
Cindy Valleys
Al Rapids
Mandy Heights
❤❤
Lura Ports
Tara Pines
Jones Drive
3:39 get nay nayed
People don't need a credit score if they do things the right way.
@@thomasb282 you mean a $300k home? It's called manual underwriting where a bank or credit union looks at your actual finances and gives you a mortgage that way
Your insurance company thinks otherwise. So does your electric, gas, cell phone provider, some employers, lanloards, etc. So yes you need a credit score in the USA 100%.
guaranteed you’re 48+ making that statement. dudes completely unaware that other generations rely on credit score
I'm 32
Bo Circles
Samir Hollow
Buying a car sounds like it’s only for the super rich
Sabrina Manor
Co-signer idea so bad for Co-signer.....bad bad advice
So you wouldn’t co-sign for you child? Just leave them on their own at 25% rate?
Hold on. Did you just suggest signing up teenagers for credit cards? That sounds like planting debt-worshipping in an individual from an early age, doesn't it?
Not if you teach your child the value of money and how to handle it.
What the tf is acredit score
are you out of your MIND i would not risk my 825 fico score for some 18-20 year old that may or MAY NOT PAY THAT LOAN OR MAKE LATE PAYMENT'S. RUIN ME YA RIGHT,THAT WILL HAPPEN THE FOURTH OF NEVER.....
so you are unwilling to help your children?
@@MikesCarStore no children trust nobody with my credit if you look out for NUMBER ONE ONLY no chance of being screwed