About the loan application... - Page 2

ElDiabloConCaca · #9 January 15th, 2004, 02:56 PM

Cheaper, yes, probably. You may have to get your parents to co-sign if you want to get a limit on the credit card high enough to spend $2000 in one lump sum. My limit was $800 when I first got the card and has since been raised over $2000, but it took a year or two of making large purchases and paying them off on time.

Instead of looking for ways to get a large line of credit, maybe you should talk this over with the parents. Tell 'em you want it and you're willing to pay it off at $XX amount every month and ask them for some advice. Jumping into a multi-thousand dollar purchase on credit isn't a good way to begin your credit history, since (and no one's accusing you of anything) statistics show that the majority of people who open their first line of credit for multi-thousands of dollars usually end up in debt and stay that way for a long time.

I think this purchase is going to end up being a lot more expensive than you expect, and we'd all like to see you get a new Mac and not ruin your credit.

Zidion · #10 January 15th, 2004, 03:36 PM

my paretns said they really dotn want to spend it right now, but they said if I pay the $50/month for the next 2 years, after that they will pay it off for me.

ElDiabloConCaca · #11 January 15th, 2004, 03:42 PM

That's not a bad deal at all... and hey, if you can live without certain creature comforts (since you will have a new G5 and all -- or whatever machine you're getting) you could up that to $100/mo. and pay it off in a year.

Get that in writing from your parents. Make them sign in blood and go for it! :P

Zidion · #12 January 15th, 2004, 03:57 PM

cuz I have the money, but my dad wont let me spend it (its in a trust fund). But thye say if I can wait 2 years, they will pay it off for me. Not a bad deal IMO.

and do you know how it owrks? Do they just take it out of your account, or do they send you a bill or what?

ElDiabloConCaca · #13 January 15th, 2004, 06:29 PM

No, usually, like a car loan, you're expected to send the payment to them on time each month. No bills, no notices, no nothing... you just gotta pay it off. They'll give you statements that outline what you borrowed, what you've paid off and what you still owe, but it's pretty much up to you to get the payments to them on time.

Zidion · #14 January 15th, 2004, 06:37 PM

okie dokie, thanks

ElDiabloConCaca · #15 January 15th, 2004, 06:58 PM

Great, let us know what system you get... I gotta live vicariously through other people, since I'm still using my trusty old G4/400 PCI machine... I don't think I'll ever let this one go! :P

Arden · #16 January 16th, 2004, 02:20 AM

How old are you? More importantly, how close are you to getting into college? If you're a ways away from going to college, your parents may be able to afford a new computer right now and save up for college as time goes by. But if you're close to going to college (like, in high school), I suggest you wait until you graduate and get a good job to get a nice, expensive computer. You should put as much money as you can toward getting a good education because, unless your parents are filthy stinkin' rich, you're probably going to have to get student loans, and you'll have to pay those off for many years after graduating, not to mention a new computer.

Depending on what your needs are, you could get a cheaper computer now and save up for a nice expensive machine later. You can get an eMac for $749 through the educational store, which would take practically no time to pay off (payments are $7/month). Sure, it's not a G5 speed machine, but it's still quite a decent computer.