My next daily and my CG news

[Nam1911a1]

I really like the Honda Pilot/Acura MDX. But really toyota has come up a lot. That 3.5L v6 is pushing almost 300hp and still getting great gas mileage. But as a college student you need a RELIABLE vehicle.

Lexus is really nice but you are gonna have to pay to play.

Also real talk as a 18/19 year old with no line of credit or job history no bank will give you a loan for the vehicle if you want it in your name. The only way you will be able to get a loan on the vehicle is with a co-signer with credit.

 

[datechboss101]

I really like the Honda Pilot/Acura MDX. But really toyota has come up a lot. That 3.5L v6 is pushing almost 300hp and still getting great gas mileage. But as a college student you need a RELIABLE vehicle.

Lexus is really nice but you are gonna have to pay to play.

Also real talk as a 18/19 year old with no line of credit or job history no bank will give you a loan for the vehicle if you want it in your name. The only way you will be able to get a loan on the vehicle is with a co-signer with credit.

How should I start my line of credit? My personal banker said I am not able to get a credit card until I'm 21 with the bank that I have my checking and savings at.

So far as of right now, I have a monthly phone bill that costs me $80 with Verizon.

With the Acura MDX, I am on the forum with that and I have no problems with the MDX. What I see with the MDX comparing to the RX 350 is the value that I am getting for the same price. And then with the Pilot, I have to go with the Touring trim which is bringing me to the territory of luxury suvs.

But as of right now, dad is paying the maintenance for my daily, so everything should be fine. If everything does go as according to plan, I should be in med school in a couple of years, and that's where I really need to have a reliable vehicle, which boils down to Honda, Acura, and Lexus (Toyota has too many econoboxes that are boring and bland IMO).

 

[Sketch o5]

How should I start my line of credit?

see if your bank offers a secured credit card. it's basically a prepaid credit card. you give them the amount of money needed for the line of credit, and you use it and pay it monthly like a normal credit card, but instead of paying down debt, you're really just reloading the card. it'll build your credit though and then you can get a real card after a credit history has been established.

 

[Nam1911a1]

If you do get a type of credit card don’t pay off the whole balance every month. Leave $1 on the balance And your credit will go up. Call around different credit card companies.


The interest rate only matters if you overspend and not pay off most of the balance. But if you just use it for gas or small things and don’t rack up a huge debt you will be fine. Hell even a store credit card to target or some other store can help bring up the credit score.

 

[Nam1911a1]

I raised my credit from zero to 720 from just getting a few things on the Victoria Secret credit card. I paid it off in three months and then bought another 100 dollars of stuff for my wife and paid it off again in a another three months. And bam my credit score was 720 lol


What they don’t teach you in school is finances and interest rates.

For a $16,000 car with a 6 year loan the monthly payments are around $300/month. You want a $30,000 car the payments will be over $600/month

 

[Sketch o5]

when i bought my 86 i got a $16k loan through toyota for 6 years and it's $225 a month. 0.09% interest, which was a special they were running at the time.

 

[Nam1911a1]

Your down payment will also highly affect the rates. The rates I posted are with little to no money down

 

[datechboss101]

I looked at credit karma and they suggested Citi secured card, and I am familiar with Citi bank since the parents have them from Costco.

I was thinking about $10k downpayment regardless of the total car price. The Accord is still on the back of my mind, but I am really not sure how reliable the 2.0T really is. And then my future plans on modifying it, giving me something that I should get the 9th gen Accord if I want to get an Accord.

Theoretically, the financial aspect, an Accord does work, but it does take time and adjustments for me to go back to the lower height though and the same goes for the civic. And if I were to get a CVT, how much boost will it even handle before it becomes a serious issue.

But, even though I want a luxury brand that is reliable, is it possible to make a mid-level Accord or Civic turn into a Luxury vehicle?

 

[DarkSideAccord]

If you do get a type of credit card don’t pay off the whole balance every month. Leave $1 on the balance And your credit will go up. Call around different credit card companies.

that makes absolute no sense... it doesn't matter if u leave a balance or not.. credit score is based on a few things, mainly:

1. length of credit history (that's why you never want to close down your first CC)
2. utilization rate (if you have $100 limit and you use $50 every month, that's a 50% utilization rate. You don't want this too be too high or low)
3. no missed payments

my credit score is over 800 fyi

 

[datechboss101]

that makes absolute no sense... it doesn't matter if u leave a balance or not.. credit score is based on a few things, mainly:

1. length of credit history (that's why you never want to close down your first CC)
2. utilization rate (if you have $100 limit and you use $50 every month, that's a 50% utilization rate. You don't want this too be too high or low)
3. no missed payments

my credit score is over 800 fyi

Dam! My goal is to get over 800 just like my dad. Also, happened to find out that my dad might be able to let me trade in the Rogue to lower my loan cost. So by the time I'll be getting a new car, the Rogue will be worth roughly anywhere between $6k-$8k, due to the high mileage.

I'm trying to get a $300 limit since I do make more than $300 per month (more like $600 if I work 12-13 hours per weekend and more like $2k for a month if its a good month and I don't have school for a month). This will definitely be used for gas and for my phone bill, but it also depends on the limit that I get.

So looking at how much I will be making, in August, it might be $2k and December it might be $3k, but it all depends if the GM gives me full-time + overtime. That right there is like $5k if she gives me the hours that I wanted. And that $5k is going towards me saving up for the new car.

But my downpayment in cash will still be $10k regardless how much money I have saved, because I might want to get my own insurance policy and might also start my build immediately, because the inner car side of me is really tempting me.

 

[Accordx]

Sad to see another Accord leave this forum from around the time I used to be active on here As a fellow student, good luck with school and hopefully you find a car you enjoy!