How bad would 18 y/o financing be?
#11
09-27-2006, 03:09 AM
RE: How bad would 18 y/o financing be?
Well, I didn't have parents helping me out when I was 18. I have had a job since I was 15, and I paid for everything I owned except for food and rent when I lived at home. When I was in college I had friends with $5000 credit cards going to the bar every night and charging $100. Then their daddies would bail them out when they couldn't pay off their $2500 credit card bills.
I am just an advocate of smart credit use. Most 18 year-old males are not mature enough to handle credit wisely. AS always, there are exceptions to the rule. Plus I think he would value the bike more if he had to bleed, sweat, and cry to buy it with cash.
I am just an advocate of smart credit use. Most 18 year-old males are not mature enough to handle credit wisely. AS always, there are exceptions to the rule. Plus I think he would value the bike more if he had to bleed, sweat, and cry to buy it with cash.
#12
09-27-2006, 10:32 PM
#13
09-28-2006, 07:20 AM
RE: How bad would 18 y/o financing be?
I'm 25 and got two credit cards earlier this year. One has no annual fee and 16.99% after the up to 55 days interest free period and is usable pretty much anywhere, and the other has no annual and a free rewards scheme but it not so widely accepted... anyways, before I got them, I had no credit history and I don't know where I could find out what my number is... like 722 or 640, but one of them recently offered to increase my limit to $17,000!
I use them when ever I can and always pay them out before they are due so I never pay interest or fees. I hope that is going to score me brownie points when I decide I need a home loan or something. But I would never go into debt for a toy, and I consider bikes as toys. Save up and get a bike that is in good condition that you can afford without going into debt. Then, the money that you would have paid in interest can go into an exhaust and paint job... paint makes any old bike good!
Anyways, I say going into debt is for business or a first home, pleasure is more pleasureable when it is yours to do with as you like... keep the smelly banks fingers off it.
I use them when ever I can and always pay them out before they are due so I never pay interest or fees. I hope that is going to score me brownie points when I decide I need a home loan or something. But I would never go into debt for a toy, and I consider bikes as toys. Save up and get a bike that is in good condition that you can afford without going into debt. Then, the money that you would have paid in interest can go into an exhaust and paint job... paint makes any old bike good!
Anyways, I say going into debt is for business or a first home, pleasure is more pleasureable when it is yours to do with as you like... keep the smelly banks fingers off it.
#14
09-28-2006, 11:28 AM
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RE: How bad would 18 y/o financing be?
ORIGINAL: TennesseeCBRF2
Well, I didn't have parents helping me out when I was 18. I have had a job since I was 15, and I paid for everything I owned except for food and rent when I lived at home. When I was in college I had friends with $5000 credit cards going to the bar every night and charging $100. Then their daddies would bail them out when they couldn't pay off their $2500 credit card bills.
I am just an advocate of smart credit use. Most 18 year-old males are not mature enough to handle credit wisely. AS always, there are exceptions to the rule. Plus I think he would value the bike more if he had to bleed, sweat, and cry to buy it with cash.
Well, I didn't have parents helping me out when I was 18. I have had a job since I was 15, and I paid for everything I owned except for food and rent when I lived at home. When I was in college I had friends with $5000 credit cards going to the bar every night and charging $100. Then their daddies would bail them out when they couldn't pay off their $2500 credit card bills.
I am just an advocate of smart credit use. Most 18 year-old males are not mature enough to handle credit wisely. AS always, there are exceptions to the rule. Plus I think he would value the bike more if he had to bleed, sweat, and cry to buy it with cash.
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