Quote:
Originally Posted by TheRealSy90
Yeah, so they called me back and couldn't approve me at the 10% interest that I signed the contract for, and had to raise it to 16% and asked me to come re-sign. I said i'll bring the car back and would like my deposit back. I've just had a shitty feeling all day long about paying 22k in the end for a 2008 base model Z that has faded paint and dents in the fenders already.
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Honestly, this was the smart thing to do.
Burying yourself in a 9 (or 10 year old car depending on when it was actually built) was not very wise. Part of the reason why your interest rate was so high was due to the age of the car.
Build your credit up, even if it means leasing a cheap 4-door if you need a reliable daily driver.
Back when Scion was around, they had some great leasing programs for first time buyers.
I managed to help my brother lease a new 2016 Scion iM for $165/mo.
Obviously the car might not be for everyone, but how are you going to say no to a driving brand new car with free maintenance for the first two years for under $6 bucks a day.