View Full Version : Debt at 16
mrmattyk
03-04-2003, 08:24 PM
A family friend is 16. He decided he wants to LEASE a brand new Dodge Ram. With 0 cash down, it will be approx. 1146 a month for 48 months. I am pretty sure no dealership would let a 16 year old do that, but his Dad is leasing it for him. He doesn't want anyone driving his truck so he wont put the truck under his Dad's insurance. So I think he will be paying about 600-800 a month in Insurance (just my guess). Will he be paying higher or lower? Then when I try to explain to his family that he is a dumb ass and they are also dumb for letting him do this they look at me like I am high. This is a typical example of all those young people who want to have the nice :bigpimp: cars when they are young. There's no way he can afford that while going to school. :banghead:
Hes a fool, and if he is not going to listen to you let him screw himself over, when the bank repos his truck, someone will get a smokin deal on it at the auctions.
Glowrider
03-04-2003, 08:37 PM
That's pretty stupid. I got myself pretty deep into debt when I was 17 with a checking card. Damn Washington Mutual. Your friend will just have to learn his lesson like I did, the hard way.
Dope Dealer
03-04-2003, 08:42 PM
Originally posted by mrmattyk
This is a typical example of all those young people who want to have the nice :bigpimp: cars when they are young. There's no way he can afford that while going to school. :banghead:
Some people can do it? :dunno:
:thumbsup: :poosie:
Weapon_R
03-04-2003, 08:43 PM
Those who can, will
Those who can't, won't.
Give them the benefit of the doubt - if the parents are willing to lease a vehicle for their son, then obviously they are willing to take on whatever comes their way financially in the future.
mrmattyk
03-04-2003, 08:44 PM
Originally posted by Dope Dealer
Some people can do it? :dunno:
:thumbsup: :poosie:
Legit? We dont all push 30 pounds of dope daily like you :rofl:
kaput
03-04-2003, 09:00 PM
.
2000impreza
03-04-2003, 09:26 PM
he wants a truck so.... just let him be....... he probably doesn't give a shit about anyone's opinion. at the age of 16 most kids don't realize better things come later in life.... blinded by what they can have now and not later...
max_boost
03-04-2003, 09:35 PM
Originally posted by 2000impreza
he wants a truck so.... just let him be....... he probably doesn't give a shit about anyone's opinion. at the age of 16 most kids don't realize better things come later in life.... blinded by what they can have now and not later... :banghead: :banghead: :banghead:
rsxrsx
03-04-2003, 09:51 PM
hmm...1100 a month + insurance...16 year old...in school...daddy helping him out...
Please, please, convince him not to do this...sure he'll have the truck of his dreams...but god forbid he can't make his payments on time, he'll ge bad creidt for a very long time, does he know the possible outcomes?
It's wrong...but i guess he'll find out the hard way.
This is just my opinion, for your friend i hope things workout.
Dope Dealer
03-04-2003, 09:52 PM
Originally posted by max_boost
:banghead: :banghead: :banghead:
Sam knows first hand ;)
Mmmm, M3, eh Sam? :nut:
i think everyone agrees this is stupid, but let his parents decide. in the end its their choice. Plus, it will teach you something about these family friends (weather they are completely UM-tarded or slightly smart)
Originally posted by Weapon_R
Those who can, will
Those who can't, won't.
Give them the benefit of the doubt - if the parents are willing to lease a vehicle for their son, then obviously they are willing to take on whatever comes their way financially in the future.
exactly
his parents are most likely footing the bill
i know tons of kids with nice cars that think they work for them, when their parents pay their insurance, and give them a ton of cash each month in allowance. sure, they might make the car payment themselves, but their parents gave them the money in the first place...
Let him take his licks on this one!
16 year old kid doesn't need a car like that and his parents are smokin some crazy Amsterdam weed if they're gonna do it for them!
When I was 16 my car was an 1986 Dodge Omni!
heh don't go onto any of the BMW forums
tons of 16 year olds running around in M3's and shit
Originally posted by bol
heh don't go onto any of the BMW forums
tons of 16 year olds running around in M3's and shit
Bought by mommy and daddy no less!
GTS Jeff
03-05-2003, 12:58 AM
if i were u, i never would have tried talking them out of it in the first place. let them learn the hard way.
Dope Dealer
03-05-2003, 01:45 AM
Originally posted by GTS Jeff
if i were u, i never would have tried talking them out of it in the first place. let them learn the hard way.
Jeff, I have a hard time taking you seriously when you have an avatar like that.
GTS Jeff
03-05-2003, 01:51 AM
Originally posted by Dope Dealer
Jeff, I have a hard time taking you seriously when you have an avatar like that. and i pop a stiffy looking at your avatar...so what?
James
03-05-2003, 02:53 AM
First of all hes an idiot, if hes 16 and in School, there is no way HE'S paying for the car anyway, his parents are, and if they want to buy him a $50,000 Truck then thats thier problem....Second, Why the fuck would you want a Brand new RAM!! , do u know what else you could get with $1100 a month! :banghead:!!!
mrmattyk
03-05-2003, 02:54 AM
Originally posted by James
do u know what else you could get with $1100 a month! :banghead:!!!
11 mopeds :D
max_boost
03-05-2003, 03:34 AM
Unless the kid is working full time, there is no way he can afford a car like that......I was working my ass off and barely made the payments.......do I think it was worth it? Sure, I enjoyed my time with the car......but if I had the opportunity to do it over again......I would have saved and wait for the right time.....because you are just living beyond your means at that age.....sure I can go out and probably buy a real expensive car right now but is that worth it? meaning I will pour 99% of my paycheque into the vehicle? No, I am much smarter now......
I am sure most of the people on the forum will agree......a balance between everything is key
As you get older, you realize how uncertain these times are and that being practical and making the smart choices is the most important thing....
So what I am trying to say is, i'm saving my pennies for my savings account! hahahah
legendboy
03-05-2003, 09:41 AM
His insurance will be more than his lease payment. Like $500 bux more.
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