AlsCobra

Just not gonna jab at a kid whose parents buy him a new car. Most of us worked hard for our stangs. Most of us will take a free one in a heartbeat also.

MRGTX

Shouldn't knowing how to spell words like "you" and "they're" be some kind of requirement before operating a 1.75 ton machine?

Fridaze

Yes, while my parents never bought me a brand new car, I cannot begrudge parents with the means who do so. It sounds like a bit of jealousy for some, sure I wish I could get one easy, but that is not in the cards for me. I don't see the need to make someone feel unwanted here simply because our situations are different. He could have went after a Lancer Evo or something, so kudos for a good choice in a muscle car!

MRGTX

That's fair. Everyone has different ideas about parenting and what's "good" for a kid and what's not.

I have no kids of my own so I'm not in a place to judge on this...but my gut feeling is that this is not a great idea. One of the most important lessons and deepest joys of becoming an adult is making the connection between working hard and having something to show for it. When two brand new muscle cars (in a row!) are given to you, there has to be a disconnect there somewhere. Even if you intellectually know that someone is sacrficing for these cars, I can promise you that it's not registering on the same level.

Secondly, if your parents are taking out such a long term loan for the car, this is a pretty deep sacrifice. I'm sure they mean well...but that's not something that I'd want to put my parents through!!

Just my opinion.

kcoTiger

I take offense at those suggesting jealousy from people such as myself who worked my tail off to get everything I have. I will freely say without reservation that working for what I have has made me a much more responsible, careful, capable human being/husband/employee. I was finishing sniper school when I was 19. I lived in the barracks to save money so I could afford to pay for school while I waited for the GI bill to accrue. I continued to live in barracks when I wasn't on assignment to save money for my first "new" car, a 1991 4-cylinder ranger. I grew up with parents who made plenty of money but made me and my brother work hard for what we got. I'm a better person for it. I know there are scads of people who are less than what they would otherwise be if they knew the value of patience and hard work.

There's nothing wrong with asking someone to do more for themselves. It's not jealousy, at least in my case, it's a matter of self respect. That does still matter in this world, right? Geez.

Fridaze

All extremely valid points and I can say I agree with you on many levels. Buying this 2013 as my 20 years of active duty present surely means more to me now than having it given to me at 18. I just wasnt sure it was fair to accost the kid without us knowing any of the situation. Perhaps he is a straight A student, pillar of the community, works two jobs, goes to college, we really don't know so it isnt fair to assume the kid doesnt deserve it. Hell, maybe he has cancer and is dying, one just never knows so we should reserve judgement.....

brewsky54

I SAY AGAIN: This looks like a Facebook post rather than a meaningful forum discussion starter (OP). I was not jabbing or insulting the feller. Just breaking the guys ballz a little bit. I would gladly take a new mustang if my parents offered it to me.

I'll start a thread on how frustrated I am that my dog digs holes in my backyard, and see where that gets me.

kylerohde

First, OP, you have got to use some proper grammar; I could barely follow your posts because they are that bad.

As others have said, a 72 month loan is nuts on a car - it almost guarantees you'll owe more than it's worth before the loan is paid off. Anything longer than 48 months is likely something that costs more than you can really afford.

I don't know the OP or his story so my thoughts below are in general and not specific to his situation.
On the issue of buying your kid a muscle car at such an early age, I wouldn't do it, personally. I think helping your kid with buying something they've worked hard for is one thing, like the kid saving $4,000 from working part-time and you paying the other $6,000 so he/she can get a $10,000 car. But if people have the financial means to buy a $40,000 car for their kid, that's their prerogative and that's fine.

However, I do take issue with buying someone that young a 412 horsepower car. Very few kids have the experience and sense of responsibility to handle a car like that and not end up in a bad place. That amount of power is beyond the true abilities of most drivers, let alone young drivers. If your kid loves Mustangs, help them get a gently used V6 from the early to mid-2000's so they can have the style and some responsibility without so much of the danger. And buy them a Street Survival driving course and as much extra training as you can.

Overtorqued

If a 72 month loan is necessary for the parents to buy their adult son a new car, then they can't afford to do so. Sorry...I just can't get on board with this attitude that perpetual debt is ok or the idea that if you can *borrow* the money it means you can "afford" it.

brewsky54

This You sir, are the champion of this thread.

Personally, I chose the 72 month term because the payments are lower. I currently am able to double up and chunk down the principle, which was my intention from the beginning. I just wanted a lower payment in case an emergency came up.

Fridaze

But again, you are all assuming they cant afford it, maybe they are doing the exact same move you are.

Everyone is just assuming this kid's situation with zero insider knowledge.

Flagstang

I think good parents teach kids things(like how to work for things) and bad parent sign checks. I also do not like when people try to show off and brag about fruad and using ones parents for something they could buy and earn themselfs. just because a person has rich parents doesnt mean they are rich.

Flagstang

He gave enough info for people to understand whats going on. They got he loan because they lied on the app about his moms work status. They got a longer loan term because of credit(75 months).

Rjaniz

Considering they killed the deal over a 75 vs a 72 month loan, and with the knowledge that the mother does not work and thus needed to lie on the loan papers, it's not really a giant leap in logic to gather the 72 month time frame is a necessity and not a luxury.

Fridaze

You're right I just re-read that, I stand corrected!

exchallenger

I can see buying a car for a deserving 19-year-old. Not a Mustang Gt, too much power for an inexperienced kid imho. We passed down my wife's Lumina to our daughter and the wife got a new car. Believe or not everybody was happy.
I think forcing kids to work and go to school so they "learn the value of a dollar" is vastly over rated. Sometimes it's necessary if family income is modest (like when I was a kid), but I'd rather have the kid studying than working all things being equal.

Flagstang

I think a person of worth and talent can work and study. It was good enough for America until now.

didnt Albert Einstein work and come up with pretty good things in his free time.

HizliBullet

Good point. In Canada since the price is way higher for the same car it makes sense to go 72 and keep the payments lower and pay off the principal in chunks. Same car in US is 10k cheaper so I'm not sure if it's smart to do the same there.

OPs English is bad but I got the gist, I don't think 3 extra months makes a huge difference considering dealers have same rates for 72 and 75 month terms here.

For a non Canada born(immigrant), unable to work with a student visa, my dad bought me my first car at age 19 to get to classes, then later I worked to get my current 08 mustang so I've been on both sides of this debate. I support the guys who were born American and worked hard since birth to get the car, and i also support parent-assisted who didn't have the privilege to start working earlier especially if they came from overseas trying to adapt to Canada/USA.

kboxvegas

The bottom line is that it sounds like neither yourself or your parents can afford the car and may not have the credit either.

Your young dude, enjoy yourself and don’t make it to where you are just a slave to pay off the things you own, as they will just own you. With a little bit of planning and financial responsibility the things you want will come to you. Besides we all know we are just going to have to have the 2015 when it drops. Set a goal, start now and be able to truly enjoy the fruits of your labors in just two years and you will be ahead of the game.

06GT

72 months wow that is a long time