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/biz/ - Business & Finance

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51393396 No.51393396 [Reply] [Original]

He is financially responsible and has a good job, but can’t get financed due to lack of credit history. He is 20 years old.

>> No.51393419

>>51393396
>he is 20 years old
Why is he not buying a $500 junker cash?

>> No.51393442

>>51393419
Have you looked at used car prices lately?

>> No.51393607

>>51393442
have you not been a faggot lately?

>> No.51393611

>>51393396
What sort of car?

>> No.51393634

>>51393396
Just buy him a Kawasaki H2

>> No.51393927

>>51393396
Just buy him a $2,000 used car
Unless you're siging on a $2K loan already, then I don't know what to say

>> No.51393944

>>51393396
why the fuck would you take a loan to buy a car.?

>> No.51394026

>>51393396
Why doesn't your son have 5k to buy a used car?

>> No.51394084

>>51393396
Instead of co-signing, buy your son a pair of kneepads so can earn cash and pay for a car the right way.

>> No.51394241

>>51393611
>>51393927
>>51393944
>>51394026
His current car was $2000, he bought with cash 6 months ago, the engine threw a rod (not his fault, previous owner lied about maintenance, go figure). He commutes to work and wants to get something around the $10k range that is reliable and will last him a while. He has $5k for a down payment.

>> No.51394296

>>51394241
>previous owner lied


Just buy used, bro

>> No.51394300

>>51394241
Nope!!! Tell him he better figure his shit out on his own. That’s what my parents did for me and while I may be a bitter angry individual I HANDLE MY SHIT!!! He needs to save up $500 and get a 1994 Camry off Craigslist and then work 100 hours a week until he can buy something better IN CASH.

>> No.51394305
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51394305

Never borrow money for a god damn car you fucking retard

>> No.51394329

>>51394241
if you cant just give him $5000 maybe make him research and get a good second hand for $5000 instead? taking a loan for a car is always stupid

>> No.51394343

>>51393396
>>51394241
Yes, please help your son out. If you must, write a contract with him that if he fails payments and forces you to pay, it's going to be a loan with interest.

>> No.51394345

>>51394300
Why would I not help my son out? I’m not even offering to pay the other half (something many fathers would do). I’m only essentially vouching for my son’s ability to pay his bills, which I know he does because he lives under my roof.

>> No.51394355

Get it. Forget the assholes in the thread who want you to turn into an animal; he has a job anyway; it's not like you have a child.

>>51394300
Shut up.

>> No.51394366

Repair the car. wtf? Why do people just throw things in the garbage when they can be fixed?

>> No.51394367

It's a little weird that you've been a parent for 20 years and need to ask this question. He's your son, he has half of the money, from your own words he's shown himself to be responsible. He's coming to you for help because he trusts you.
Cosign it. Worst-case scenario you pay $5k but that'd be worth maintaining a good relationship with your soon.

>> No.51394428

>>51394241
Fix the car, retard. Maybe it will teach you both a lesson about cars.

>> No.51394438

>>51394305
Who is this lady?

>> No.51394458

>>51394305
whomst?

>> No.51394498

>>51394366
>>51394428
It needs a new engine and would cost more than the car is worth to fix it.

>> No.51394500

>>51393396
>Should I sign up myself and my son for jewish usury?

What is wrong with you.

Actually, now is one of the only good times to do that but only if you can find a low intrest loan somehow.

Still better to tell him to save and buy gold then sell later for a decent car.

>> No.51394534
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51394534

>>51394345
how far is his commute to work? get him a ebike for $2,0000 or build one for cheaper

it depends if co-signing will get him a really good interest rate. Like if hes gonna pay 12% interest without a co-signer and pay 2% interest with a cosigner then yeah i would sign

only sign for a borning car like a honda civic. no sports car bullshit

>> No.51394541

>>51394428
Worst response by far. Not the time nor place.

>> No.51394558

>>51393396
>>51394241
>hey dad I need a car to get to work
>spend 2k on a pos that will total in 6 months? thank you for the advice
>dad I can’t get a loan because I don’t have credit

>> No.51394584

>>51393396
Obviously the "make sure you can afford the payments" meme applies. My dad did this for me, I had commute heavy job (1.5 hours each way) w/ 0 tolerance for being late and had a used cars transmission die mid drive.

You may be better off with a few different options than the $10k car though.
1. Look into buying the car yourself and putting him on your insurance. Or abuse the "permissive driving" clause and avoid him being on your insurance whatsoever. Full coverage for a 20 year old male on a loaned out car is big $$$ at-least in the USA.

2. Lots of 0% down 0 interest rate options on new cars. Going to a dealership and getting a used $10k car is going to come with awful terms regardless of your credit score, and you can get burnt the same way you would buying off Craigslist, the 3 days to return the car and get it checked out meme isn't foolproof.

Shop the 2021-2023 Sedan market & see if you can do some insurance fuckery without messing up your ability to get covered in case of an accident.

>> No.51394591

>>51393396
Why can’t you buy him a car you fucking poor loser

>> No.51394598

>>51394241
What Would Cause an Engine to Throw a Rod? There are a few reasons why an engine might get to the point of throwing a connector rod: low oil pressure, too much engine revving, valve failure, or some loose nuts and bolts.


sounds like he was driving like a jackass. if car lasted 6 months, it was not the previous owners fault

>> No.51394602

>>51393396
Never cosign a loan, not for anybody, ever.

>> No.51394645

>>51394598
Fuck off Reddit

>> No.51394698

>>51394598
The easiest way to do it on any car, is to just never change the oil.

When I hear of broken engines and there was good oiling involved: I'm getting suspicious.

>> No.51394740

>>51394026
He's American.

>> No.51394766

>>51394698
drive it through a flooded road. kids do dumb shit. water gets in engine and during compresson the water doesnt compress. breaks the rod

>> No.51394910

>>51394305
Sauce

>> No.51394953

>>51393607
LMAOOOOO GIGACHAD RESPONSE

>> No.51395164

>>51394534
>only sign for a borning car like a honda civic. no sports car bullshit
For sure. He wants a Corolla.
>>51394598
>>51394698
He changed the oil when he bought the car and after putting 4k miles on it. It broke at around 5k miles after he bought it. I know I can’t see everything he does, but he is a good driver when I’m with him and is a pretty smart kid. It’s possible, but I doubt he was driving it hard.

>> No.51395170

>>51393396
Yes you stupid faggot boomer. You are supposed to help your children become established in life.

>> No.51395256

>>51395164
See if you can find another Mechanic's opinion. Well-oiled engines without extreme revving and without extreme fuckery (like that mud thing the other anon mentioned) is extremely rare.

E.g. I have a shitcar from 1996 that hasn't had a problem ever with its engine (well other than it "doesn't sound perfect" to an expert).

>> No.51395331

>>51394241
Yes co-sign the loan if he’s financially responsible. Don’t be a cunt parent. If he’s making the payments it’s still a learning experience for him. He will also ideally treat a nicer car better than if he buys a piece of shit in cash.

>> No.51396217

>>51394910
go to Japan instead of jerking off to porn if you like chinks so much

>> No.51396668

>>51394241
the most important thing on old cars is to change oil + filter and check oil every full gas tank used

2000$ 6 month is 333$ a month
thats not to bad

>> No.51396699

>>51394241
buy a used car from rich peoples. not from poor peoples. rich people will maintance their car while poor people ride it to trash.

>> No.51396754

>>51394241
If he is not a fuck up and works 40 hours a week. Yes help out your son. Once again. He has the ability to pay off the car and it not a fuck up.

>> No.51397089

>>51393396
It may not be a bad idea for you to co-sign, but asking this board was a terrible idea.

>> No.51397333

>he is financially responsible
>he has a good job
Yes and if you would incur financial hardship should he lose his job as that he start moving money into some type of escrow fund for the vehicle so it does not get repossessed while he is moving back home.

>> No.51399257

>>51393396
Buy him the car. I’m similar aged and my parents never bought me a car. Your son will get zero pussy without one

>> No.51399351

>>51394305
Unless you want to buy a rusted-out beater from Joe Six-pack, who can afford a car without an installment plan? Also, that is one hot-looking man.