LosalPD

I'm 18... I'm workin at a job making a decent amount of money. I'm trying to buy this used black series my mom looked at it and got approved. She already has an m3 m5 and m6 (all 2013 production years). I'm trying to get this car for myself...? I don't get how credit works, and I was wondering would I even get approved? The only thing on my report that I know of is buying out the lease on my previous car (135i that was crashed and paid off by insurance) anyways summary... Will I get approved? How much would the estimated payments be if it's sold at 125k used?

Merc63

Is this a joke?

flooby

SaintC63

NO offense, but your mother should probably assist you as a co signer. A 135i is nearly a 3rd the cost of a BS. Granted you family probably has some money seeing what you claim your mother drives, I am sure she is probably more helpful than any of us when asking for advice about credit.

The quickest way to boost your credit score is to use and pay off your credit card. Long standing loans help too but not as quickly as using a credit card.

You might have your hands full with this one... = Black Series....

m3equals333

maybe 6-7 years ago (around the time when I was graduating college)...this is the same time period that Chase gave me a $40k spending limit for my first credit card with no real prior credit history...lol

nowadays you will have a tough time unless your mom cosigns or puts it under her name entirely...

SaintC63

Agreed on the cosign part, especially if there isn't any established credit. Probably would be best to have Mom cosign so this guy can also start building his credit.

larrybarber

Can I be the first to call bs on the original OP? Mother purchased M3, M5 and M6 all within the past 12 months?

SaintC63

Did you notice my "BS" flag on my first post....

Yeah, this does seem strange, but just incase I am still offering what I think I would do or give the best advice I can. No harm in that, right?

m3equals333

Yup, I like to give ppl the benefit of the doubt...if he's a troll or just plain delusional, that is his problem

_timothy

don't be a *****, just get a pagani

gthal

How'd you crash your 135i? If you already had a previous accident at your age, the insurance premiums on a BS would probably be as much as the car payment

_timothy

the only acceptable answer here is road head

callmiro

Swoody

Back away from the crack pipe! Are you 14yo? You don't understand how credit works? WTF

anthonymckay

LosalPD

anyone else wana hate? The other pics are too big to upload, but i would gladly go take a picture of all my cars with me and a middle finger to all you guys (:

LosalPD

I was asking about credit to all you ignorant people, because when I went to bmw they said my credit wasn't built enough to buy or lease any cars.... I was cosigned for a 135i and a 328i as a daily beater. I'm young and I don't know THAT much about credit. I just didn't understand if I had the credit to sign for it myself or I had to cosign

LosalPD

_timothy

haha please post those pics. i cannot wait to get those

youre probably looking at 2100-2300/mo for a pmt. assuming you dont have a real job and no one outside of family would ever pay you to do anything beyond bag groceries and also assuming a used car interest rate, 60 months, 115k purchase price after 10k down. you will need a cosigner. no bank would ever approve that loan. why not just have mommy buy it cash? maybe save it and get a bigger garage.

edit: i see your pics. where are you holding up the middle finger? get in those photos and try again

LosalPD

Even easier here's my instagram. Creep away at my job and my cars. Thanks (:

http://instagram.com/justin_shih/

anthonymckay

Why wouldn't you just ask your parents? Obviously they've bought enough cars to understand something about credit...

That said, I do love being proven wrong! Lots of awesome cars on that instragram. Good luck with the purchase of the Black Series, it's a beaut.

_timothy

callmiro

Your cars???....didn't you say "I don't get how credit works, and I was wondering would I even get approved?"

LosalPD

Thanks. I'm a computer tech person... Not some credit analyst or some ****

LosalPD

I'm not trying to ask my parents for help. It's one of those things I'm trying to do myself? Parents are annoying