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Younger GTI owners car payments

afctom

Ready to race!
I've noticed there are lots of 17-21 year olds on here with GTI's (presumably still in college and not in full time employment), and I'm in the market to upgrade from a Golf to a GTI. How have you arranged your car payments? Directly through Volkswagen or is it a case of parents buying the car and you paying them back a certain amount per month? Any response is appreciated, Thanks!
 

Toomanyrpms

New member
haha ^solid answer! A lot of factors come into play here you could either hit up a bank for a loan or hit the dealer. Then refinance. Debts cheap these days!
 

rawbdog

Go Kart Champion
Bought my first mk6 TDI through VW credit a 1.9% when I was 22. Then traded it in when I was 24 and jumped into a GTI. Got raped on %Apr bc my credit has dropped, but it's not easy. I schedule my car payment with my monthly bonus along with my car insurance. But unlike most I pay up the ass for car insurance bc bad record/lead foot syndrome. :laugh:
 

clownish

just clowning around
Bought my first mk6 TDI through VW credit a 1.9% when I was 22. Then traded it in when I was 24 and jumped into a GTI. Got raped on %Apr bc my credit has dropped, but it's not easy. I schedule my car payment with my monthly bonus along with my car insurance. But unlike most I pay up the ass for car insurance bc bad record/lead foot syndrome. :laugh:

17-21 ??


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whitewolf33

Go Kart Champion
From what Ive read of it sounds like there are a few people who arent the ones making the payments on it... im not hating, I would let someone pay the bill for me too if I could
 

steemax

Go Kart Champion
Leased my mkv Jetta through the dealer and paid for all of it myself with a job... then financed a GTi when I turned 20 under my Parents name since I didn't have the necessary credit but I have been making all the payments since then.. and now there's about a year left of payments and the car will be paid off. (I'm 24 now)
 

brobst

Go Kart Champion
Cosigner with good credit. And credit union that does lower apr loans.

sent from superior interior telepathy
 

Tk_mkv1

Go Kart Champion
I got my mk6 gti when i was 20, mom insisted me being the cosigner, traded in my old car for $10k, i believe it was .99 apr. Now that my mk6 got totaled and got a huge check for $21k (havent received yet), i got a mk7 (23 now) under my name but dad co-signed, but i believe i pay 2.99 apr now, also i have excelent credit score than my parents, 800 to be exact. Payment starts in november as i got the car last saturday.

I work 30 hours a week, and work extra on some weekends at festivals about once in every month in warm seasons. I still go to school, wrapping up my degree, i make pretty good amount of money for someone in my situation, id probably move out by now, if i didnt get the gti or didnt get the mod bug.
 

lilfleck

Go Kart Champion
The folks that had mom and dad pay are likely not going to chime in... don't blame them either. It's just reality. Honestly, if you aren't sure if you can afford it, I would not buy it.

It's really not worth having a financial obligation that is really not necessary. In the event you can't make payments, you're credit is going to take a dump and will cost you MORE money in the long run.

The GTI is awesome... but don't put yourself into a tough situation that you can't afford comfortably.
 

Kyle805

Ready to race!
Picked mine up right before my 20th birthday. 3.9 apr without a consigner and every payment made by me. Pretty high rate but given my age and a new car I can't complain, worth every penny.


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NYCSuits

Go Kart Champion
Got my car once I graduated college (had a job out of school), 21 years old with my mom as a co-signer, 0.9% Top Tier through VW Credit...the car and the bills are all in my name
 

vwgti2.0t

Go Kart Champion
Bought mine brand new in Jan. 2011 (car is a 2011). First new car, and had graduated college 6 months before. I turned 23 like 10 days before I bought the car.

1.9% APR, 60 months, $1500 down, no cosigner. Paid it off in June of this year.

FWIW, I'm not sure if VW still has this, but they used to have a "recent college grad" program which is what I used. I believe you can get it 6-12 months before you grauate if you have a job offer and you can use it up to a year after you graduate. If you have had no bad marks on your credit, you get the best interest rate possible at the time and VW even pays your first months payment. So basically I got 1.9% interest and a free $450 (first payment) for being a college grad. Definitely something to look into.

I would assume anyone under 18 that has this car, it's being paid by mommy and daddy. I would also assume most people still in college with this car, it's being paid by mommy and daddy with a few exceptions. Over 18 with a good job I don't see it being too tough to make the payments though. I know people that never went to college and went into the union right after high school and immediately started making some pretty decent coin.
 
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