In a pickle, car pickle. Help!?!

[GR3EN]

GR3EN,

Good to see you posting again! Good on you! I'm actually surprised to have a credit limit of $1,000 actually. Don't know many 19 year olds with that high of a limit. Last time I checked, my credit score was in the high 600's which is also pretty good!

The Volvo seems to be running fine right now, but I know that could change any day. Interestingly enough, the "misfires" seems to be less pronounced once the engine has had time to warm-up and run for a little while which is great!

-Alex

As other have said in the thread the miss fire is just going to be a wire or coil or cap and rotor depending on how old it is. Easy fix you could even do yourself. And 600s is plenty of credit. In terms of car loans they look more at how much money you make and what other payments you currently have. Credit unions are a lot easier to deal with in the loan business. I used $15,000 of my loan and my payment is only $350/m for 6 years with no early pay off penalties etc so I usually put a bit extra down from income taxes so I can pay it off a little early.

 

[Cyparagon]

Last time I checked, my credit score was in the high 600's which is also pretty good!

Not really.

 

[Rivem]

Not really.

True. I'd also add that checking your credit score with many services is also usually very misleading since it can be calculated pretty differently depending upon who's giving you the score and who wants to know.

 

[Chrisbee]

GR3EN,

Good to see you posting again! Good on you! I'm actually surprised to have a credit limit of $1,000 actually. Don't know many 19 year olds with that high of a limit. Last time I checked, my credit score was in the high 600's which is also pretty good!

The Volvo seems to be running fine right now, but I know that could change any day. Interestingly enough, the "misfires" seems to be less pronounced once the engine has had time to warm-up and run for a little while which is great!

-Alex

My score is just over 720, and I usually qualify for the best interest rates. The dealer will search different banks/credit unions to try and get you the best rate. I was quoted 3% on my used '04 Masdaspeed Miata, and I agreed to it. Then they called me back the next day and said that they found a different lender that would do 2.75%, and they would send me the updated paperwork to sign!

Also, because your car running smoother after warming up isn't uncommon if one of your spark plug wires has a crack. When cold the wire insulation is hard, and the cracks are more able to let spark jump happen. But after the insulation gets hot, it becomes more pliable, and seals the crack/s better.

Sounds like it's overdue for a tune-up!

 

[Encap]

Also, because your car running smoother after warming up isn't uncommon if one of your spark plug wires has a crack. When cold the wire insulation is hard, and the cracks are more able to let spark jump happen. But after the insulation gets hot, it becomes more pliable, and seals the crack/s better.

Sounds like it's overdue for a tune-up!

Exactly, Chrisbee.

Hap give a set of new wires a try---they don't cost much a pair of OEM Volvo wires are $46 on Amazon, other brands for less. If it fixes the problem that's great, if it doesn't you are not out much and if you are careful with the new wires you probably can return them

A car with a check engine light can't pass inspection and nobody would buy it unless it could pass so the car is basically worth nothing until you fix the problem. Protect your investment and preserve the car's value. You would be surprised at what a big difference a fresh set of ignition wires and/or coil packs can make. Engine could seem to be on it's last legs ---new wires and it is running like new.

 

[NightExplorer96]

Not really.

Do take into account I'm only 19 though

Edit: Thanks Encap!

-Alex

 

[Richie89]

Now Now, it can't be that bad with a 5th gear overdrive:beer:
Before putting my 70 GS 455 in storage well over away 20 years ago with the intentions of replacing the trunk panel "which I haven' done a thing yet" I could actually see the gas gauge needle drop every time I punched it. It sure is worth it though isn't it
Boy did we stray from the OP subject but ""Hap"" please do yourself well and start with little things like changing the oil and filters. It will really make you feel good and be proud of your self buddie, Ask anyone here that is pushing you that way

You're actually right, lol it's not too bad, '70 455 whewwww! I'll bet it sounded mean as hell too

 

[Bionic-Badger]

Don't take out a loan to pay for a downpayment. In fact, never take out a loan to pay for part of another loan. That'll only hurt your credit score even more as there will be more debt held against you. Keep one credit card (each additional dings your credit) and simply pay off the balance every month. You don't need to do interest payments.

Keep a job, stay in school, avoid debt and new forms of credit (like credit cards). Your credit score will build over time.

I also wouldn't have your parents on the hook for co-signing. Co-signing is an incredible evil that can wreck the co-signer's finances and credit if something goes wrong. There are times when it is needed, but buying a new car with little credit is not one of them.

As for new cars...

I don't think I'll ever buy a new car unless there are some special subsidies or deal that allow me to get it for a huge percentage off. Both my cars (one bought after I lost the first one in a crash) I bought on Craigslist and both worked perfectly. My current car, a Subaru Outback '05 was the best model Subaru made in that year and I got it in excellent condition with about 90k miles on it. For the same price I paid to buy it outright, which was around $10k, the best I could've I could have only gotten new was some lowest-end tiny econocar or some crap like that with no features, if even that. I could've gone quite a bit lower in price too if I didn't want a particular engine in that model.

One thing some of the newer cars have going for them is better gas mileage, but you don't need the newest model to get that kind of mileage. Plus, you might as well wait until good gas mileage is actually needed. Right now gas is cheap, so enjoy it while you can.

 

[Rivem]

Don't take out a loan to pay for a downpayment. In fact, never take out a loan to pay for part of another loan. That'll only hurt your credit score even more as there will be more debt held against you. Keep one credit card (each additional dings your credit) and simply pay off the balance every month. You don't need to do interest payments.

Keep a job, stay in school, avoid debt and new forms of credit (like credit cards). Your credit score will build over time.

I also wouldn't have your parents on the hook for co-signing. Co-signing is an incredible evil that can wreck the co-signer's finances and credit if something goes wrong. There are times when it is needed, but buying a new car with little credit is not one of them.

As for new cars...

I don't think I'll ever buy a new car unless there are some special subsidies or deal that allow me to get it for a huge percentage off. Both my cars (one bought after I lost the first one in a crash) I bought on Craigslist and both worked perfectly. My current car, a Subaru Outback '05 was the best model Subaru made in that year and I got it in excellent condition with about 90k miles on it. For the same price I paid to buy it outright, which was around $10k, the best I could've I could have only gotten new was some lowest-end tiny econocar or some crap like that with no features, if even that. I could've gone quite a bit lower in price too if I didn't want a particular engine in that model.

One thing some of the newer cars have going for them is better gas mileage, but you don't need the newest model to get that kind of mileage. Plus, you might as well wait until good gas mileage is actually needed. Right now gas is cheap, so enjoy it while you can.

Subarus are awesome, but the used market can be insane in some places. I drive a Legacy around myself. No other cars beat them in the crazy winter weather I have to deal with. Even my family's truck and SUV don't do nearly as well on ice.

On getting new cars, I think anybody considering a newer car now should also consider waiting for the electric vehicle boom that looks poised to start next year. The amount of money an EV can save in fuel costs and little to no maintenance costs is really astounding.

 

[InfinitusEquitas]

Keep one credit card (each additional dings your credit) and simply pay off the balance every month.

Good advice to start off with, but necessarily good long term. Credit, with time, becomes a question of bank balances, and credit utilization, as well as payment history. It's also ok to carry a balance short term, especially if it is a balance at zero interest.

Unfortunately most people just aren't disciplined enough, especially when younger and stupider.

 

[Pi R Squared]

Unfortunately most people just aren't disciplined enough, especially when younger and stupider.

It's unfortunate how we start off in life stupid and inexperienced, and we get smarter and more experienced as time goes on and by the time we know how we should have lived our lives it's too late and we are often loosing our memory by then.

Alan

 

[Cyparagon]

Do take into account I'm only 19 though

I don't think lenders care about your age. They only care if you pay back their money, and a credit score is a more accurate indicator of that than age is.

 

[Bionic-Badger]

Good advice to start off with, but necessarily good long term. Credit, with time, becomes a question of bank balances, and credit utilization, as well as payment history. It's also ok to carry a balance short term, especially if it is a balance at zero interest.

It also helps to not use up much of the credit available on the cards, as that can indicate that there are some financial problems amiss. I think only in super exceptional circumstances have I gone past 50% of my CC's credit.

Unfortunately most people just aren't disciplined enough, especially when younger and stupider.

And some people get into bad habits, feeling like money burns a hole in their pockets or accounts or something. Also the less reserve funds you have, the less ability you have to take advantage of timely opportunities like good deals or other kind of stuff that pays in the long run. Credit cards can be nice for those opportunities too, but need to be used just to buy a little more time.

 

[RedCowboy]

Changing spark plugs and spark plug wires is a good basic tune up first step, it's not expensive and if you have a skip that's a good thing to do straight away.

Your 2000 Volvo S40 has no distributor, it has a crankshaft position sensor and a coil for each spark plug.

So simply change your plugs, then see if you have a weak coil, but it's probably a worn out spark plug.

Coil packs and a crank position sensor should show up on a diagnostic, but change the spark plugs first, it's easy, you can do it yourself.

 

[Lifetime17]

GR3EN,
Hey are you back in laser land buddy? Sorry about off topic but i seen your post and wondered. How are you an your squeeze doing fine i hope . The 462nm i bought from you is still kicking butt thanks.

Rich

 

[Encap]

I don't think lenders care about your age. They only care if you pay back their money, and a credit score is a more accurate indicator of that than age is.

Exactly, Cyparagon.

Credit decisions are more about how much of any financial capability you have can you do without and live long enought to reliably pay any money borrwed back.
No much about age.

Interesting article:
40 Young People Who Became Millionaires Before They Were 20 | Inc.com