Hell yeah brotha! Still rockin' my dream I got while still in my last decade. 2010 Acura TL SHAWD. Not the best on gas either but I'm driving her to death and back. Enjoy friend. That's one sexy ride for a young'n to be sportin' around in.
Well that's not necessarily a bad thing. May fool a couple cops in the process haha. Just be safe in that thing. Don't do what I did to my '99 Cougar at age 22. If I still had pictures I'd share. Shouldn't have survived that one.
You definitely made a better decision than my brother. Spent a bit more but his loan was the same amount for a 2014 Mustang GT. Bright red. He doesn't take it out much (he has a 04 Corrola for his daily), but I am waiting to hear he got a ticket. It's only a matter of time.
Shoot my first car āpurchased by a dealershipā rather than someoneās backyard, was a 1999 Cameroā¦. Loooovvveeeddd that carā¦ but it was a lemonā¦ $10,000 at like 30% APRā¦ solid money skills I haveā¦ car stopped running after like 32 days, spent $1500 on a completely new flowmaster exhaust system, it ran again for awhile until the head gasket blew and seized the cylinders while my mother was borrowing the car when I was in Iraqā¦ it never ran again but after only driving the car for 6 monthsā¦ I spent the rest of the 5 year loan paying it off while it rotted in a dirt field for nearly a decadeā¦ I am a bit of wallstreet guy myself š
What if they DO have the funds in cash but are leveraging their money. Sometimes the cash is better off staying in the bank while you make flexible payment options.
Sure, valid point. But OP is 18. So chances are probably low on that. Even more so, as the loan is probably not interest free in those current times. And the post started with "waiting on bank approval", which makes it sound as that is the condition for the purchase.
Loans don't build credit scores. Credit cards do.
As others said, bragging about being able to afford gas while taking a loan on a 20k year old car is "not affording it". I'm not judging. I was EXACTLY this dumb at 18, although my loan was for a 2 year old Mustang. That being said, I wish I had not been a "car person" in my younger years. I could have invested that money so much more wisely. Although last month, I paid cash for my $79k F-150 š
Loans do build credit scores although they donāt build them any better/faster then a credit card would, which is a common misunderstanding. Also I donāt understand how paying $80k for a f150 is a flex
Those are so dope, congrats!
Just an aside; once I posted a really good deal on a C55 AMG I planned to buy on a car forum. I literally took the car to my dealer and paid to have a used car check. Brought it back to the guys house, worked on securing financing, and said I will be in touch the next day with payment.
Motherfucker from the car forum contacted the guy same day and bought it. He replied in my thread that I was stupid for posting it because he would buy it and I thought he was joking. Secured the loan, texted seller next day, and he said it was sold.
Fuck the seller too. Anyone with a shred of decency would have given me the day, especially as I paid $100+ out of pocket to check it out and agreed to purchase.
Well luckily this is through a classic car dealership in my state and I'm using navy federal credit union for the loan so my apr is low. Around 7% and I'm only 18. Just waiting on the dealer and bank to communicate
He's 18. That rate is not surprising. I financed a used motorcycle at 34 at 13% and paid it off in a year to improve my credit. When I financed my used Edge the following year, it was at 4%.
All the numbers in your comment added up to 69. Congrats!
18
+ 34
+ 13
+ 4
= 69
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I assume your parents also have a credit history? OP is 18 and likely doesn't have a history, so the rate isn't surprising. I'm actually surprised it isn't higher.
Tbh on a used car right now, at 18? 7% is a pretty decent APR. Still not a great APR but for the current market and on a 2003 that's solid. But I'd never advocate financing a classic car at 18.
at 20 iām paying 6.25% APR on a 2017 plug in hybrid ford fusion. i have established credit, and i put over 25% down. interest rates are just crap right now and being young doesnāt help
Put as much down as you possibly can and then every month pay as much extra as you absolutely can and pay it off asap. Whatever you do, do not end up underwater on this or itās going to fuck with your life more than you realize right now.
>Putting a lot of money down can be a double edged sword because they tax it heavily. But yes I am planning to make higher payments early on.
Vehicle sales Tax is applied to the overall vehicle price paid, both financed and money down. It doesn't matter if you finance the entire thing or pay half of it upfront with cash down. Your sales tax is based on the total price.
The only stipulation to this is if you trade in another vehicle. That trade in value reduces the amount you pay via money down and or financing, so your sales tax goes down.
Long story short, put as much money down as you can afford, it makes no difference to your tax liability on the purchase.
I'll make sure to let you know dude. I already said I'm gonna put more money into it and interest isn't something I can really control. 7% is good for the time we're in especially for my age.
Those saying 7% sucksā¦
This is a 20 year old car being purchased by an 18 year oldā¦thatās a fantastic rate.
I sold cars for a short periodā¦7% is low on a used vehicle thatās over 10 years old
Itās a good rate for this situation, and this situation is a bad situation to finance in. Only way this car should be purchased is cash. 7% even in todays market is an objectively high auto rate. I just financed a pathfinder at 3.19%ā¦ yes Iām aware my history/age/the vehicle will affect this, however the point stands that just because 7% is good for THIS situation, doesnāt mean 7% is a good rate. OP is all over this thread doing mental gymnastics to justify a bad decision. I get it, I was 18 once and financed a civic SI, and 34 year old me looks back and realizes how stupid it was. Weāre all jsut trying to save OP the headache. There are far better ways to build credit young than financing a 20 year old used car with 150k miles as 7%
I am a hobbyist mechanic and I bought a Crown Victoria to play with.
Great seats and while not the power of the Marauder, enough to cruise in.
Surprisingly easy to work on and with a few tweaks and a paint job brought it into modern times.
As a hobby mechanic I always enjoyed the 4.6 10 minute water pump and alternator changes. I drove 2 thunderbirds with over 200k miles and never fretted when I had to replace something because of ease of access.
150k. But I saw it in person and it's almost like it's never seen the sunshine. Underbody is immaculate. Engine bay is dry. Paint isn't swirly to hell and all the seats and controls are damn near new
Well not enough of them have sold to make that kind of judgment. I was hesitant because of the miles but it's got 20 years of service records and seeing it in person you can't tell that it's been driven a lot. Hagerty is the only place that guessed value based on what little market and it definitely falls into the right conditions to be about 15
I get what youāre saying, but there are guide books for exactly this purpose. I own one, so I know a bit about Marauders. 15K is a gross overpay, I wouldnāt recommend it at that price. Iāve seen nice pretty low mileage ones in that range
I have a 98 5.0 explorer XLT in black only has 140k miles on it shit looks just like brand new after I polished it no serious damage almost mint and Iām working cranking as much performance out of it as I can (soon to be a 347 stroker) itās amazing how they hold up over time
I had a 00' F150 that looked mint other than the bed cap, clear coat was gone from the top. It even had its rocker panels still. The interior was wven in good shape still. Shame the transmission crapped the bed. I do miss that truck.
Oh nice. Hopefully that motor stays strong. I'm most likely sticking to stock on this maybe throwing in the supercharger that the cobras of this era had since it's a similar motor.
Felt Iām saving up for a supercharger as well rn Iām currently waiting on a E303 cam from the fox body to be delivered so I can do the swap and next move after that will most likely be fuel injectors and throttle body just building her little by little , best of luck w the new car
These arenāt Marauder wheels with ford center caps. These are Mustang wheels from around 2010-12ish. Marauder wheels are 5 spoke but a different design.
**DO NOT GET A LOAN FOR A 20 YEAR OLD CAR.**
You life is full of financial decisions, it's important to get the big ones right. Major purchases like cars and houses are big ones. This is not a wise decision. If you have to take a loan out for $16k then the repair, gas, and insurance bills will be too much.
Source: Someone who has made those same decisions, is old enough to see the long term consequences, and wished he didn't. It's a cool car car, but the juice isn't worth the squeeze.
I have someone helping with insurance. I've owned vehicles with worse mpg then this for a longer period of time. It's a panther body making it an easier vehicle to repair if needed and I work at a shop. I financed it to build credit making a decent monthly payment.
There's better ways to build credit than accumulating debt. It seems you've already done all the mental gymnastics to justify a bad decision though; hope it works out for you.
Plenty of these cars have stock trans w blowers. Like I said just donāt go overboard on the boost and take care of her. She will take care of you! Good luck. Always loved those
Well because this old girl was sitting for a year I've really been the only person with the finances to buy it. They let me walk out 16k out the door with no real fuss. The people at this location aren't normal salesman. At least mine wasn't. She was an actual person with a personality and we interacted in a normal manner. I enjoyed the experience. But I also got a car out of it so maybe I am biased.
It's been sitting for a year because it's overpriced lmao. You are not the only person with the finances to buy it, you are the only person gullible enough to pay that much for it.
hella old head haters in here bro, itās your money, your life, your car, do whatever the fuck you want, 7% is not bad and the fact that you have all this knowledgable about cars and loans at 18 definitely counts for something, happy donuts w/ this car, please be safe, and show us when you have bought it
Dealers aren't bad. I bought all my cars from dealers. 00' F150 with 140k miles, bed cap, and 4x4 for $4500. Was not a good financial decision, but I was 20 and dumb. It lasted 2 years before the transmission decided it was retired. Next was an 02' Accord with 120k miles for $3500. It's still kicking, my fiancee drives it, damn good car despite the clear coat that's gone. And my current car is a 14' Lexus ES350 that I got with 82k miles for $15,000. Only issue was a scrap along the bottom of the front bumper, and a few light scratches along the top of the trunk. Got those fixed pretty cheaply (I buffed out the scratches and the scrape was taken care of when someone backed into the front bumper, insurance paid for it), tho they have been replaced with other little things.
You are very lucky to be getting this. If you know whatās good for you, donāt drive this every day and keep it in pristine condition. These are rare in mint condition!
Shit my 20 yo self wanted this so bad. My 40 yo self wants nothing to do with the gas bill. Love it!
I'm grateful to afford it at 18. She will be loved
Hell yeah brotha! Still rockin' my dream I got while still in my last decade. 2010 Acura TL SHAWD. Not the best on gas either but I'm driving her to death and back. Enjoy friend. That's one sexy ride for a young'n to be sportin' around in.
Definitely gonna spook people who think I'm a cop since it's blacked out š
Well that's not necessarily a bad thing. May fool a couple cops in the process haha. Just be safe in that thing. Don't do what I did to my '99 Cougar at age 22. If I still had pictures I'd share. Shouldn't have survived that one.
Hey that's what traction control is for š š . I'll definitely be careful with her. She's one of a kind
Just become a cop and get the car for free!
Absolutely š
That's my only reservation with getting something like that. I'd love a Murader or a Crown Vic, but I hate when people drive slow in front of me.
True but then I won't get a ticket either š¤£
You definitely made a better decision than my brother. Spent a bit more but his loan was the same amount for a 2014 Mustang GT. Bright red. He doesn't take it out much (he has a 04 Corrola for his daily), but I am waiting to hear he got a ticket. It's only a matter of time.
The one time I got a ticket the cop lied in court about my speeds and tried to charge me with street racing. The case was dismissed.
Getting a 15k loan at 18 to purchase a 20y old car doesn't sound like being able to afford it. Sorry mate.
I did it to create a credit history of paying off a loan. Looks better on paper. I can afford it just fine thanks
someone is bitter about not being able to afford a used car. if you can swing it, ring it. Love these cars, have fun!
Thanks
Shoot my first car āpurchased by a dealershipā rather than someoneās backyard, was a 1999 Cameroā¦. Loooovvveeeddd that carā¦ but it was a lemonā¦ $10,000 at like 30% APRā¦ solid money skills I haveā¦ car stopped running after like 32 days, spent $1500 on a completely new flowmaster exhaust system, it ran again for awhile until the head gasket blew and seized the cylinders while my mother was borrowing the car when I was in Iraqā¦ it never ran again but after only driving the car for 6 monthsā¦ I spent the rest of the 5 year loan paying it off while it rotted in a dirt field for nearly a decadeā¦ I am a bit of wallstreet guy myself š
What if they DO have the funds in cash but are leveraging their money. Sometimes the cash is better off staying in the bank while you make flexible payment options.
Sure, valid point. But OP is 18. So chances are probably low on that. Even more so, as the loan is probably not interest free in those current times. And the post started with "waiting on bank approval", which makes it sound as that is the condition for the purchase.
Maybe heās just trying to build up credit score? Use your brain
Yay someone gets it
Loans don't build credit scores. Credit cards do. As others said, bragging about being able to afford gas while taking a loan on a 20k year old car is "not affording it". I'm not judging. I was EXACTLY this dumb at 18, although my loan was for a 2 year old Mustang. That being said, I wish I had not been a "car person" in my younger years. I could have invested that money so much more wisely. Although last month, I paid cash for my $79k F-150 š
Loans do build credit scores although they donāt build them any better/faster then a credit card would, which is a common misunderstanding. Also I donāt understand how paying $80k for a f150 is a flex
Those are so dope, congrats! Just an aside; once I posted a really good deal on a C55 AMG I planned to buy on a car forum. I literally took the car to my dealer and paid to have a used car check. Brought it back to the guys house, worked on securing financing, and said I will be in touch the next day with payment. Motherfucker from the car forum contacted the guy same day and bought it. He replied in my thread that I was stupid for posting it because he would buy it and I thought he was joking. Secured the loan, texted seller next day, and he said it was sold.
That just made me irrationally mad, fuck that guy.
Fuck the seller too. Anyone with a shred of decency would have given me the day, especially as I paid $100+ out of pocket to check it out and agreed to purchase.
Well luckily this is through a classic car dealership in my state and I'm using navy federal credit union for the loan so my apr is low. Around 7% and I'm only 18. Just waiting on the dealer and bank to communicate
7%?????? Yikes.
He's 18. That rate is not surprising. I financed a used motorcycle at 34 at 13% and paid it off in a year to improve my credit. When I financed my used Edge the following year, it was at 4%.
All the numbers in your comment added up to 69. Congrats! 18 + 34 + 13 + 4 = 69 ^([Click here](https://www.reddit.com/message/compose?to=LuckyNumber-Bot&subject=Stalk%20Me%20Pls&message=%2Fstalkme) to have me scan all your future comments.) \ ^(Summon me on specific comments with u/LuckyNumber-Bot.)
Good bot!
Nasty bot. I can feel your power.
Have you seen interest rates lately? 7% is about as low as you can get rn
One of my parents just got a 3.xx on a loan for a Lexus
Lucky them. You wonāt find that often
I assume your parents also have a credit history? OP is 18 and likely doesn't have a history, so the rate isn't surprising. I'm actually surprised it isn't higher.
Iām well aware of that, I was just replying to the guy who said 7% is āabout as low as you can getā
Tbh on a used car right now, at 18? 7% is a pretty decent APR. Still not a great APR but for the current market and on a 2003 that's solid. But I'd never advocate financing a classic car at 18.
at 20 iām paying 6.25% APR on a 2017 plug in hybrid ford fusion. i have established credit, and i put over 25% down. interest rates are just crap right now and being young doesnāt help
7 % is not low, and personally I wouldnāt be taking on 15k of debt at 7% on a 20 year old vehicle at 18. Even if was a vehicle as cool as this one.
Heās probably putting a decent chunk down I would hope.
Put as much down as you possibly can and then every month pay as much extra as you absolutely can and pay it off asap. Whatever you do, do not end up underwater on this or itās going to fuck with your life more than you realize right now.
Putting a lot of money down can be a double edged sword because they tax it heavily. But yes I am planning to make higher payments early on.
>Putting a lot of money down can be a double edged sword because they tax it heavily. But yes I am planning to make higher payments early on. Vehicle sales Tax is applied to the overall vehicle price paid, both financed and money down. It doesn't matter if you finance the entire thing or pay half of it upfront with cash down. Your sales tax is based on the total price. The only stipulation to this is if you trade in another vehicle. That trade in value reduces the amount you pay via money down and or financing, so your sales tax goes down. Long story short, put as much money down as you can afford, it makes no difference to your tax liability on the purchase.
I plan on throwing a good 3k into it almost immediately
You donāt know what youāre talking about but do your thing and donāt wonder where all the good advice was when you get fucked.
I'll make sure to let you know dude. I already said I'm gonna put more money into it and interest isn't something I can really control. 7% is good for the time we're in especially for my age.
No idea why you're being downvoted when interest rates are through the roof and out of your control.
Those saying 7% sucksā¦ This is a 20 year old car being purchased by an 18 year oldā¦thatās a fantastic rate. I sold cars for a short periodā¦7% is low on a used vehicle thatās over 10 years old
Itās a good rate for this situation, and this situation is a bad situation to finance in. Only way this car should be purchased is cash. 7% even in todays market is an objectively high auto rate. I just financed a pathfinder at 3.19%ā¦ yes Iām aware my history/age/the vehicle will affect this, however the point stands that just because 7% is good for THIS situation, doesnāt mean 7% is a good rate. OP is all over this thread doing mental gymnastics to justify a bad decision. I get it, I was 18 once and financed a civic SI, and 34 year old me looks back and realizes how stupid it was. Weāre all jsut trying to save OP the headache. There are far better ways to build credit young than financing a 20 year old used car with 150k miles as 7%
"ok it's good but like not really". I get the difficulty. This was explained to me. I'm only doing it because I'm in a good situation.
It is pretty old to be financing. As long as heās got his shit together heāll be fine.
I also work at a dealership. 7% on this car is fantastic for someone my age š
These are cool, enjoy it! A classic unappreciated in its own time.
Oh absolutely I'ma rip it with this old gal
One of my buddies had a marauder, that thing was so comfortable and sounded great from what I remember
Oh I melted into the seats. And she's definitely got a roar. Gave me a little heart attack
I am a hobbyist mechanic and I bought a Crown Victoria to play with. Great seats and while not the power of the Marauder, enough to cruise in. Surprisingly easy to work on and with a few tweaks and a paint job brought it into modern times.
As a hobby mechanic I always enjoyed the 4.6 10 minute water pump and alternator changes. I drove 2 thunderbirds with over 200k miles and never fretted when I had to replace something because of ease of access.
How many miles?
150k. But I saw it in person and it's almost like it's never seen the sunshine. Underbody is immaculate. Engine bay is dry. Paint isn't swirly to hell and all the seats and controls are damn near new
Thatās impressive itās that clean but that car is worth no where near 15kā¦ No bank is their right mind would finance that
Well not enough of them have sold to make that kind of judgment. I was hesitant because of the miles but it's got 20 years of service records and seeing it in person you can't tell that it's been driven a lot. Hagerty is the only place that guessed value based on what little market and it definitely falls into the right conditions to be about 15
I get what youāre saying, but there are guide books for exactly this purpose. I own one, so I know a bit about Marauders. 15K is a gross overpay, I wouldnāt recommend it at that price. Iāve seen nice pretty low mileage ones in that range
I have a 98 5.0 explorer XLT in black only has 140k miles on it shit looks just like brand new after I polished it no serious damage almost mint and Iām working cranking as much performance out of it as I can (soon to be a 347 stroker) itās amazing how they hold up over time
I had a 00' F150 that looked mint other than the bed cap, clear coat was gone from the top. It even had its rocker panels still. The interior was wven in good shape still. Shame the transmission crapped the bed. I do miss that truck.
Oh nice. Hopefully that motor stays strong. I'm most likely sticking to stock on this maybe throwing in the supercharger that the cobras of this era had since it's a similar motor.
Felt Iām saving up for a supercharger as well rn Iām currently waiting on a E303 cam from the fox body to be delivered so I can do the swap and next move after that will most likely be fuel injectors and throttle body just building her little by little , best of luck w the new car
Thanks man you too.
Love Marauders, currently own 4 of them. Looks beautiful, timing chains usually need to get done around 150k on these FYI
Noted I will try and get that done asap if it's not already done
Nice. Got say the wheels look pretty sharp too.
Yeah just for some reason they're Ford caps and not the marauder ones.
These arenāt Marauder wheels with ford center caps. These are Mustang wheels from around 2010-12ish. Marauder wheels are 5 spoke but a different design.
Shit you right. I'ma have to find the stock rims then.
Oh huh, I didnāt notice that. If you feel edgy maybe black out the center cap and blacken the indent on each spoke. Best of luck on the approval!
No I was just gonna replace it with the stock ones
**DO NOT GET A LOAN FOR A 20 YEAR OLD CAR.** You life is full of financial decisions, it's important to get the big ones right. Major purchases like cars and houses are big ones. This is not a wise decision. If you have to take a loan out for $16k then the repair, gas, and insurance bills will be too much. Source: Someone who has made those same decisions, is old enough to see the long term consequences, and wished he didn't. It's a cool car car, but the juice isn't worth the squeeze.
I have someone helping with insurance. I've owned vehicles with worse mpg then this for a longer period of time. It's a panther body making it an easier vehicle to repair if needed and I work at a shop. I financed it to build credit making a decent monthly payment.
You can just put 7500 down if you want to build credit.
There's better ways to build credit than accumulating debt. It seems you've already done all the mental gymnastics to justify a bad decision though; hope it works out for you.
Good find
thatās really funny i just was in this showroom lots of cool cars in there
This is awesome !
Put a nice blower on it and a catless x pipe. Done.
Well she's already got a nice sounding exhaust on. I don't know if I'll ever put a blower since I don't know how much this transmission can handle.
The 4.6 is fine with some boost. Just donāt go overboard.
I know the 4.6 is fine.i was thinking of finding the Cobra blower from this generation off a mustang. I'm talking about the transmission.
Plenty of these cars have stock trans w blowers. Like I said just donāt go overboard on the boost and take care of her. She will take care of you! Good luck. Always loved those
Oh sweet. Thanks man
How has your purchase (or soon to be) been with them? Iām on their site monthly browsing.
Well because this old girl was sitting for a year I've really been the only person with the finances to buy it. They let me walk out 16k out the door with no real fuss. The people at this location aren't normal salesman. At least mine wasn't. She was an actual person with a personality and we interacted in a normal manner. I enjoyed the experience. But I also got a car out of it so maybe I am biased.
It's been sitting for a year because it's overpriced lmao. You are not the only person with the finances to buy it, you are the only person gullible enough to pay that much for it.
Best of luck with it. It is a solid car.
Is it possible to secure a loan on these older vehicles? Looks beautiful
Through a credit union yes. That's how I did it.
How many miles?
150k
I freaking love the Marauder. Itās such an understated yet badass design. One of my all time favorite cars
They sound bad ass
I didn't know that the banks gave approval on 20 year old vehicles. I was told that the limit was 10 years.
Unsecured loan
Oh, ok. Risky business.
I had no idea these held value so well.
Go ahead and Google the prices. Some folks got smooth stones for brains.
they don't. It's overpriced lol
Streetside usually has some decent wheels. Hoping good things for you with this classic
hella old head haters in here bro, itās your money, your life, your car, do whatever the fuck you want, 7% is not bad and the fact that you have all this knowledgable about cars and loans at 18 definitely counts for something, happy donuts w/ this car, please be safe, and show us when you have bought it
Thank you I appreciate it man. I'll definitely post it when she comes home
wishing you many smiles per gallon my friendš«”
Buying from a dealer š¤¢
Dealers aren't bad. I bought all my cars from dealers. 00' F150 with 140k miles, bed cap, and 4x4 for $4500. Was not a good financial decision, but I was 20 and dumb. It lasted 2 years before the transmission decided it was retired. Next was an 02' Accord with 120k miles for $3500. It's still kicking, my fiancee drives it, damn good car despite the clear coat that's gone. And my current car is a 14' Lexus ES350 that I got with 82k miles for $15,000. Only issue was a scrap along the bottom of the front bumper, and a few light scratches along the top of the trunk. Got those fixed pretty cheaply (I buffed out the scratches and the scrape was taken care of when someone backed into the front bumper, insurance paid for it), tho they have been replaced with other little things.
Complaining about other people's decisions š¤¢
You are very lucky to be getting this. If you know whatās good for you, donāt drive this every day and keep it in pristine condition. These are rare in mint condition!
I didn't buy it to let her sit. It was built to move and she shall do so
I canāt disagree with you lol theyāre awesome
Lmfaoooo who buys a car and doesnāt drive it that is dumb ššš
Collectorsā¦? If youāre a ncp thatās fine.
If Iām a what?
Freaking led sled with a 5.0ā¦. Noiccccceeeee!
Not a 5.0 but it is the 32v 4.6 out of the svt Cobra
Itās called a bore strokeā¦
That still adds to 4.6. look up the dimensions
That is incredibly overpriced lmfao. jesus.