i think with my age.. i couldn't even get the loan
I don't think
too keen on giving out big loans to 19 year olds especially for purchasing a 8-10 year old Japanese sports car. Maybe with the current economic climate - you could try but probably need
huge deposit.
im 19 years old.. i think im financially fit for the loan.. as ive never made a loan on anything in my life..my current car also continued payment
On top of that, you have no credit history whatsoever as far as the banks are concerned. What was the reason for getting your current car under continued payment? If it was due to inability to obtain financing for some reason then hopefully that is no longer the case.
I hope you don't take this wrongly, but then again you're asking for opinions on a public forum so take it with a pinch of salt - both the good and bad comments. The way I see it, at the age of 19 the
absolute last thing you would want to do right now is burden yourself with debt. Not before you've had a chance to start earning steadily.
However, if your circumstances are different and you have parents who don't mind and have no problem buying you a Skyline then by all means go ahead. In short, my point is if you're looking to pay for all this yourself out of your own pocket then I'd wait a few years.
Following is totally off-topic but for those interested, you know how I love to ramble:
I've sort of been expecting the economy to turn bad as most people have for the past 2 years
BUT never did anyone dream of a slump of this magnitude. So basically late 2007, before the General Elections were held, in fact before Hari Raya, I made the decision to exit from all my risky investments (stock market), keep a healthy cash reserve and made sure that if I owed money, any form of debt at all, it would be for an asset such as mortgages or business loan but never for something that is a liability. I ventured into safer businesses although in hindsight I did not move enough in that direction.
So what I'm saying is, the world now is so uncertain we all don't know how much money we'll have in 6 or 12 months. In fact, just last week a tenant for one of my properties got retrenched and sent back (expat). Luckily I moved quick and secured another expat tenant who is moving in on the 1st of March. So I've lost nothing - no downtime on my assets so they're always generating revenue in fact I came out on top cause the previous tenant forfeited deposit.
These are the things you should be doing, looking out for assets first to pay your toys later. I started very very young. If you took that money and invested instead, I can guarantee that in your mid to late 20's, you could walk into a car showroom and buy the latest GTR in cash.
Hmm.. I sound like my Dad. This is fkd up.
