18-20 year olds, how did you afford your 03/04 cobra?

[VeNoMiZeD]

Im 22. Builded my own credit (763 Fico at time of purchase). I started banking at 18. I have 5 years as a teller. I now work at Citibank as a teller making $31k salary (for a kick back job). Im on my own right now for the first time. Rent sucks, but i have a bad ass 03 cobra, and moved out into a 4 bedroom house with 3 other roomates. Yeah, i dont have a bunch of money left over, but i have enough to pay my rent, my car, and still have enough to enjoy everything else that i need daily. Overall im happy with everything. And its possible if your young, you just have to work at it.

 

[temjin9876]

I am 21 (22 next week)

I had a 98 cobra before this and got an insane deal on it. Two years after that it was basically paid for. My buddy at Gwinnett Place Ford was leaving his job and told me to come down to the dealership. He made it happen for me with a deal that, at the time, was the cheapest i had heard of on it. Put a thousand down plus the crazy trade-in he got me on my 98. Finance for 4.5 years @ 3.00%. Bam

If it wasn't for my job, I would still have my 98. I got a job at Lenscrafters as a Lab Tech and from there got my Optician's certification and started getting raises. With experience, they pay quite handsomely.

Insurance is still under my parents but I pay it. 1445.76 a year (collision and liability).

I am very fortunate to have been in my situation. I would not have dug my financial grave for it however. You have the rest of your life to buy anything you want. I have a hard decision coming up at the end of the year: I have to pay half of my payoff by Law School time next year or trade in on a lesser car for little or no payments. (It feels great having 15k in equity:-D )

good luck

 

[Chris C]

im 20, but got my cobra at 19... My parents put 5k down (bought my 97 v6 stang off of me) they put the car in their name for interest rate and insurance purposes but ive been making every payment on it since then, i work as a leasing agent for a apartment complex and make about 1600 + comission working part time... I have since been building credit and plan on putting it into my name, in the next few months. I will admit though it took me 4 years of good driving to prove to my dad that i wouldnt kill myself in a fast car, he wouldnt even get me a sn95 GT way back when. I just proved myself as a decent driver. but living at home, and the only bill being a carpayment and insurance, its quite easy to afford about 813 total (insurance and car payment)

chris.

 

[errray's 03 svt]

i'm 21 goin on 22 in april. my mom put a descent amount down (15,000) and now i just pay the monthly. she pays for insurance and gas too.

 

[Epic]

I got my first new car when I was 20. An LX 5.0; I had a good job but couldn't justify spending the extra dough for a GT or Cobra at the time. Although, I bought a brand new home when I was 23. Sold the LX in '03 and bought a '03 GT Vert. Couldn't get into the whole convertible thing and need more hp so I traded it for an '04 Cobra. Next car will be in 2014

 

[Surfnerv89]

18 here. I got a 75% tuition scholarship from florida bright futures. so school is only about $300 a semester. my parents pay for school. I bought the cobra for $26,500 used, and I am making payments over 6 years. payments are $395 a month. I work 20 hours a week and that pays for it, plus living. I still live at home too.

 

[davidmax]

I dropped out of school at 14 and became an emancipated minor,back in 68'.I had always worked and saved and while at work as shipping and handling mgr. got a call from a penny stock salesman who sold me a 1000 shares of Lincoln log,pre-fabricated log cabins.I paid a.75 cents per share he then called all excited(I had lied about my age and said I was 19)Lincoln logs in play its at 4.50 per share I said great sell it.He said I was much better off till my warrants came due in 3 years because if I sell the stock here there go my warrantts.
I demanded he sell at 4.50 he did in 3 weeks it was worthless.
Another few months later I git the same pitch from another Jersey penny stock firm and they later explained why they just get free shares for selling you 1 share.
It was Aloha airlines little inter island commuter jet service and the deal was they were going to announce LA and Frisco direct to Hi,any Island you want for 199.00 r.t. Very Cheap in 1969,Pan Am(R>I>P) buys them for 14.50 a share I sell and excersize my warrantts these bylaws were not take over unfriendly like Bailey Plastics.I got 5000 warrantts and 3 -4 months later sold them for 5.50 each and after my 1st trade on lincoln log(the sales person got fired,I had to get my cousin Sam in on it,he was lead prosecutor and then I get Aloha just weeks later.
So i bought the Ford dealers car.A CHERRY RED,repainted with Ford enamel but done and baked by hand not bad paint he just wanted show qaulity.
It had a 390 4 barrell and a 4 speed C-6 od trans and a white ragtop.Pony interior no A/C Auto pb,ps pdlbuckets and console shifter less than 35 made that year w/o a bench seat and console shifter.
I would have sworn it was the fastest car in NYC except my 1st race against Jeff Kimmelstein in a highlly modded road runner 426 hemiwith 3 deuces.
Off to the drawing board balanced/blueprinted 427 side oiler out of a death wreck AC Cobra.Cam,heads,solid lifters,accel/mallory ignition,fuel pump,dual quad set up,(much simpler than the 3 deuces) 4:88 gears in a Dana 60 series and 11 second 1/4's that walked that HEMI while no one could do before the tiny 427.
I eventually got it to 10.90's at 150 mph with a 4:11 gear and some more mods.
Right before I sold it I found a good home a man who installed 2 seperate Paxton 4 lb. Super Chargers,never saw it run at the track and Jeff though I was told and read in Hot Rod that it was built by a teenager which back then was huge and I read he managed a 8.90 or so with a tqe.flight Auto and some drag suspension.
So young guys dont have to do bad things it can very easily be a young hard worker like myself and some friends who failed terribble and those like me that turned out good.All the best Dave Smilovic
PS:With the 4.50 lincoln log at the brokers trial several years later when he wouldnt sell mt lincoln log and I yelled SEC he sent 3000.00 the next day warrants he kept claiming and I said over and above all my friends said leave well enough..... 2 days later Hounding him from office to office he sent out the remaining 1500 with 0 commisions on the sale and 275 on the buy.
Why cant we do that everyday and his list stunk getting a 15 year old who he couldnt scam to many relatives in prosecuting jobs.
GMI ser
vices was shut down by SEC and opened and shut and changed there name and 2 guys finally did 2 years at Rahway state prison
Dave Smilovic.

 

[fast1]

Im 22 years old, still living at home, and seriously thinking about diving into a used 03 Cobra. I have a decent job(i guess). I make $22,000 a year. This sounds low but for my area, it's not bad. The thing that kills me is the damn insurance. I figure $350-400 a month car payment, and $300-350 for insurance. Plus, $250 a month for supplements. After that, I would totally be tapped out:burn:

 

[fubu795]

Re: Re: 18-20 year olds, how did you afford your 03/04 cobra?

Originally posted by jimwood
You cant, without a)putting yourself in serious jeopeordy of defaulting on the note. b) Parents paying for almost everything else.

Anyone who has had to pay for everything themselves, has continued to have to pay for Insurance, Clothes, etc. Anyone who has saved 10k-15k at the age of 18 has only done so because parents paid for all other expenses. That doesnt discount the self control to save. But there it is.

Anyone who owns a car worth 15k outright at 18 has had help.

Just what I have seen in life when your a student.

The only exception I have seen is guys in trade, plumbing, electrician. They get a lot of money and normal can get good training in highschool. Journeyman out of High School, and if you save you could get a Cobra honest by 19-20.

I dont think you give some people the benefit of the doubt buddy. I started in sales at the age of 19, I currently still fill the same position, (21 now) and last year I netted about 38k. My parents haven't paid for shit, I put myself through school and I am currently paying back school loans. Yes things get tight sometimes but I feel that what I've accomplished in my short years, I deserve a nice car. I got bills out the ass but you only live once. I pay for apartment, liviing expenses, school loans, bike loan, a few credit card payments. I do see alot of people who have everything because there parents pay for it, but its not always the case. I've strived hard to be where I am and within the next 2 years hopefully I'll be promoted to District Sales Management, pull about 75-80k, depending on commision. I just think you don't always judge a book by its cover and never open your mouth until you know the story.

Just my 2 cents

 

[PacWest]

I would have loved one of these at 20 yrs old too. I think some people can handle it and some can't. I probably would have crashed. I crashed my Camaro at 30....may have killed myself at 20.

I got a 2000 SS all by myself at 27. It took 5 years of working after college to do it. I'm 30 now and have the 03. I bought it used (2,500 mi) to save as much as possible.

1 income, house, 2 cars, 3 year old son....it gets very expensive!!

More power to you whenever you get your Cobra.

-Ryan

 

[SVTdubs]

19, 20 in march. I had a 99 electric green cobra convertible at 16 working at turtle wax car wash. I had to give my dad $140 A WEEK to pay for the car, insurance and then I had to pay for gas too. As you all said, young and stupid with too much power, I crashed it. Totaled. I then worked for another year in my dads electrical company and got my 00 SVT Contour. I worked in my dads company for a few years while going to school and playing baseball. I got almost a full ride to college on a baseball scholorship. My dad and I then decided that I was ready for a cobra again after a few driving schools (racing) and he offered to pay again as long as I made my payments, which would have been the same to a bank minus insurance. The insurance is under the company that he owns. Then last year, I started working for a guy who sells perscription medicine. I branched off of the company starting my own little sector in Indiana, where I am located now.

www.msi.0catch.com

My sister and I run the show and the money is good since my sister and I split profit 50/50 no matter who sells more.

I am eligible for the MLB draft next year again as I had a shot out of high school but I unfortunately got injured making a diving catch in center field. Im not one to brag so I will end it there but for the people who know me, there is a lot of potential for big money. For those that follow baseball, I played with lBJ Upton in California last year at the area code games in Long Beach. He was the second OVERALL draft pick and signed for 4.3 million dollars!!! He is on the cover of baseball america magazine all the time. If you are all familiar with Baseball America magazine, check out last months issue... Im in it:rockon:
The top right of Page 42 under the "best tool" section, I was ranked in Baseball America as the best outfielder/arm in the Missouri Valley Conference. It is the issue that says College Preiew 2004 and has 3 players from Rice on the cover.

Anywho, I work as an Electrician in the summer as well as own a branch of Mailscripts with my sister. I also recently work for a performance shop in St. Charles, my home town in IL as a marketing/part owner I guess for Dean's Performance. We install mods on all cars and give discounts to SVTP members!

Here are the links to our companies, check them out!!!

www.msi.0catch.com
www.rjeil.com

take care

-Eric Jones

 

[fast1]

That's awesome. Good luck, don't forget about us when you sign that 252 million dollar contract(ARod):beer:

 

[SVTdubs]

I wish:bowdown:

I started all but 2 games as a freshman here and hit a whopping 257 :rollseyes as a freshman and hit 4 home runs :rockon: .
I was hitting 304 with two weekends to go and I went 1 for my last 36 because college plays almost twice as many games as high school. I was just drained out. Plus we finished up against Southern Illinois and Witchita State:whine:

Its ok though, Im in the best shape of my life now, bigger and stronger than ever. Im excited for the season to start. We leave for South Carolina, Myrtle Beach on Wed!!! :beer:

 

[Zinc03Cobra]

I'm 21 and afford my cobra by working full time and going to school full time. Yeah, my parents helped me out, and I continue to make the payments every 23rd of every month from here to forever. It's worth every penny and so are the mods! I'm just trying to finish up college in the next year or so, and get a *real* job. As for right now, it's easy working, making a car payment, going to school full time, and enjoying life. Just my story.

 

[03InThe11s]

bought my first cobra (a white 96) at 17. paid it off quickly while i was in high school. after graduation i bought a 2001 F150 supercrew 4wd. then i worked 60-65 hours a week while going to EMT school, and fire school. when i bought my '03, i put down 20,000 plus i traded in my 96. now i work full time, and im in paramedic school. my parents helped by letting me live in their house. thats about it. i have paid for everything when it comes to my cars. btw im 21 now.

 

[cobra4.6L]

I also had an electric green vert when i was 17. I traded it in 4 months ago for my redifre coupe. I am now 19 and love my s/c cobra

 

[soniclightning]

i'm only twenty and i paid cash for my 03 lightning. one word INVESTMENTS:read:

 

[BmxBlaster]

NUXX.... Does your girlfriend have any sisters ? =) haha

22 here just working a decent job with minor expenses and a nice downpayment from selling my 94 gt helped me get my 03'. Insurance does suck though im paying over $4,000 a year for insurance. and thats the cheapest i can find. ANYONE have any other companies in New Jersey that have cheap insurance trying to find a lower rate. thanks

 

[nuxx]

Originally posted by BmxBlaster
NUXX.... Does your girlfriend have any sisters ? =) haha

No just a brother
... but he's married :loser:
-Peter

 

[Tru_Ice]

Originally posted by Steel City
Vettes are for Fat, Bald ****

:nono:

LOL, so I hear, but I'm not Fat nor Bald and will make sure til' the day I die that I will not end up like that. Don't get me wrong I love and respect them Cobra's and I am considering purchasing one, once the 06 comes out(especially w/ the discount) but the Vette has just always been my dream car. To each their own, huh.

BTW nice aviator!!:beer: