Financing a sled with bad cred

[GYMBRAT]

Isn't that a part of growing up? It was, in the not so distant past.

There is no reason a kid should be financing a brand new vehicle. Odds have it your first vehicle will hit the ditch. Encouraging kids to take the depreciation hit on a brand new ride makes no sense to me as well. "Hey, why don't you take six grand and set it on fire" which is effectively what you do when you drive that new ride off the lot. Let someone else take that hit, and buy something used. Granted, you won'y know exactly what has been done to it, but again, if you're 17, it's time to learn how to maintain stuff, rather than just take it in every time something is wrong.

Just one dude's opinion.

I do agree with you but unfortunately its not the case here....

Not trying to be a dick BUT you are in Kimberley BC. Here in AB the Oilpatch rules the economy and a kid at 18 can clear 10k per month. So its hard for them to just say "nah I dont want a new vehicle I want a $1500 POS".....I know trust me, I went through it step by step at an early age myself.

 

[JaySimon]

I do agree with you but unfortunately its not the case here....

Not trying to be a dick BUT you are in Kimberley BC. Here in AB the Oilpatch rules the economy and a kid at 18 can clear 10k per month. So its hard for them to just say "nah I dont want a new vehicle I want a $1500 POS".....I know trust me, I went through it step by step at an early age myself.

Don't get me wrong, I know money flows like water over in the patch, it has just always been driven into me that you work up to brand new stuff and things rather than finance your way there. I guess when you clear 10k a month, you can afford to pay the bank to have cool stuff. I guess it's the scot in me, there's no fawkin way I'm paying the bank to have things.
Strikes me as a 'keeping up with the jones' thing, which in my mind should be discouraged.

Again, just my opinion. Your mileage may vary.

 

[GYMBRAT]

Strikes me as a 'keeping up with the jones' thing, which in my mind should be discouraged.

You are right Jay, that is EXACTLY what it is around AB for most part!!! I fell into the same trap early on lol! Not anymore mind you as I grew out of it. I worked my way up from JUNK to new as well.

I respect your input man thx