so my son buys his first car today. On his own....no co-sign.
cool.
He comes to where I work and says, "I got it!"
"That's cool son. Can ya handle the payments ok?"
"Oh yeah."
"What's yout interest rate?"
"....uh..."
"ok...how long's the contract for?"
"...uh..."
I worked in this print shop when I was like 16 in inner city Detroit. The guy that worked the press, was a young guy, probably 19 - 22 or something - anyway - he was always bitching cause he had no money - apparently most of his check was deducted and sent to pay his car note. Apparently he bought some brand new car and didn't get it insured and totaled it like a month after he got it - so he was stuck paying off this like $15,000 car that didn't run...
