how can i afford a new hatch

[efcee]

i want a 02 civic so badly

how do all of you guys pay for your hatches i was reading the posts and there are some 17 year olds on here if they got hatches how could you afford it ???? parents buy it for you or something?
there is a black 02 hatch at a dealership nearby its priced at 18500
uhg i want it
i used to not even like the 02 hatches but now its the only car i want
after lookiing at it so much it seems to make other cars look
.... i dont know
look not as good heh

[DynaSpeed]

efcee,

To tell you the truth, I'm a Financial Analyst for an Automotive Firm. You sound quite sincere, therefore, I'll give you some guidance in regards to what you have (Capital), and I'll tell you what you can afford, and how to finance and stuff like that.

[efcee]

guide me

[BlackSi2002]

whats up, i'm 17, i bought a 2002 si. i just got out of high school and have a job, i've had one job since i turned 16, i make 10 dallors an hour and work full time as a assistant produce manager at a supermarket.. i can afford my si, i had to finance it for 6 years though, and my dad had to sign for it till i turn 18, and then we will refinance. i'm up for a raise, so i will probley refinance it for 5 years and up the monthly payment. we will see, later.

[DynaSpeed]

Nice... $10/hour will definitely do it (as long as you don't have a mortgage). You're 17, so I'm assuming you don't. :)

A new Si with 0 down will cost ~$400 / 60 months. Therefore, $10/hour at 40 hours a week is $20,800 / year - taxes. You're young and relatively in a low tax bracket and I'm assuming you are a dependant of your parents. We'll say 17%. Thats $17,264 take home.

The Si is ~$4800 / year ... Thats a 27.8% debt-ratio. Very good if you ask me and *any* bank would loan that to you as long as your credit history is unmarred.

Any help, Efcee?

(BTW, thanks BlackSi2002 for the example)

[efcee]

yeah
im 18 and i had a job since i was 14 at a grocery store and i work in the produce section also heh wierd
but im planning on quitting and getting a new job cause this one pays shit
even after 4 years of working there

and i have another job where i make 10 an hour but its not consistant enough its more of an on and off summer job
so right now im looking
i still got one more year of highschool left heh i started later than you probably
but once i find that yeh ill prob have to talk to a bank
and get a loan

think prices will go down much with 03's come out?
i was thinking i could try to get a little better deal than 18500 at the dealership because the 03's will be coming out so hopefuly they wanna get rid of the 02 si's that they have right now heh