16 year old in a 2005??

AdamD

New Member
Apr 4, 2004
15
0
0
walnut creek,ca
Hey

IM 16 and want to buy a car. Would it be possible to lease the car, meaning i pay a certain amount of cash each month to pay for it all???I have the cash and i work my ass off, im not spoiled or anything and i really want a mustang.Maybe, my dad would get the car and say its his, but i would just be the one driving it the whole time and giving him all of the payments. and yes, i know insurance will be high on a mustang GT with the v8 and all, but i have a great job that pays well. Would the ford dealership let a 16 year old lease a new car, or do you have to be an adult?In that case I might just have it under my dads name,and i will drive and pay for it. Yes, i know i cant modify it, but i dont care, its stunning stock.

-adam
ps. no bashing!
 
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Get the car dude. Just don't be an a** like all the other 16 year old kids I see on the road. And get it in your dads name. You say you have a good job but I gaurantee with you being 16 the insurance is going to eat you alive along with the car note.

And even if you have have experience drive high performance manual transmission cars, that isn't saying much. Anybody that is 16 years old doesn't have much "experience" doing anything, JMO so don't get upset.

If you want to get the Mustang, get it but do yourself a favor and let your old man purchase it. It'll save you a ton of cash. Just don't be a typical wreckless 16 year old in it cause he'll probably be pretty d*** upset knowing that he put his a** on the line for you.
 
It will cost a 16 year old about $5,000+ a year to insure a 2005 Mustang. My 16 brother just got quoted $2500 for insurance on a 1999 Grand Prix with 107,000mi.

Insurance on any new car is going to be too much $$$ for a 16 year old. expect insurance to cost about double the car payment.
 
AdamD said:
Hey

IM 16 and want to buy a car. Would it be possible to lease the car, meaning i pay a certain amount of cash each month to pay for it all???

What you are describing sounds like financing, not leasing.

AdamD said:
I have the cash and i work my ass off, im not spoiled or anything and i really want a mustang.Maybe, my dad would get the car and say its his, but i would just be the one driving it the whole time and giving him all of the payments. and yes, i know insurance will be high on a mustang GT with the v8 and all, but i have a great job that pays well. Would the ford dealership let a 16 year old lease a new car, or do you have to be an adult?In that case I might just have it under my dads name,and i will drive and pay for it. Yes, i know i cant modify it, but i dont care, its stunning stock.

-adam
ps. no bashing!

Speaking as a neutral party, If you've got the cash and you think you can deal with it, go for it. Just make sure you sit down and do the math on what it will take to run that car. Between payments, insurance, fuel, maintenance, you could find yourself making payments on a car you can't afford to drive. Iv'e seen it happen more than once.

Now for the unpleasant bit: should a 16 year old, or anyone with little or no driving experience own a car like this? My default answer would be no. That is a lot of car with a lot of power and any lack of ability/respect will get you into a lot of trouble.

I would have loved to have owned a mustang GT when I was 16, but being a little older/wiser, I realize that I would probably be dead right now if I had. I thought I was a pretty good driver earlier on. Then I started racing. At that point, I realized I didn't know sh**.

If I were you, living in walnut creek CA, I'd recommend taking some of that money and heading down to Laguna Seca for a 2 day Skip Barber driving course. Actually, I'd recommend that to any new driver. It's a lot of fun and You'll learn a lot. If also means you can avoid a bending that new car, then it's money well spent.

Good luck.
 
AdamD said:
Hey

IM 16 and want to buy a car. Would it be possible to lease the car, meaning i pay a certain amount of cash each month to pay for it all???I have the cash and i work my ass off, im not spoiled or anything and i really want a mustang.Maybe, my dad would get the car and say its his, but i would just be the one driving it the whole time and giving him all of the payments. and yes, i know insurance will be high on a mustang GT with the v8 and all, but i have a great job that pays well. Would the ford dealership let a 16 year old lease a new car, or do you have to be an adult?In that case I might just have it under my dads name,and i will drive and pay for it. Yes, i know i cant modify it, but i dont care, its stunning stock.

-adam
ps. no bashing!

To answer your question...

No, Ford will not lease to a 16 year old. It is against federal law to enter a legally binding contract with a minor (under 18). Therefore, you are not eligible to sign a lease agreement. Nor are you old enough to be covered under your own insurance. Also, Ford (and every other vehicle manufacturer) will only lease a car dependant upon credit rating which you do not acquire until you are 18. Once you turn 18, you are legally able to enter into contracts that will effect your potential credit history. You start with no credit at all. This is not bad because it is better than poor credit. The downside to this is that if you are to purchase any high dollar item with credit, you will be stuck with an astronomical percentage rate (25% area).

I am not trying to deter you, I am simply stating the facts. There are ways to get what you want, but you WILL pay dearly for it.
 
shatner saves said:
Now for the unpleasant bit: should a 16 year old, or anyone with little or no driving experience own a car like this? My default answer would be no. That is a lot of car with a lot of power and any lack of ability/respect will get you into a lot of trouble.
I am also 16 and have driven powerful cars. Soon I will be driving a 289 65 fastback around (when summer acualy comes in ohio.) I work for a guy, Paul Monea mantaining his yard and cars. He has Lamborghinis, Mustangs, Shaq's old rides and some West Coast Custom stuff. The thing is you can't act stupid when driving powerful cars or any car for that matter. And it seems that when there are other peers around you can find yourself showing off for them. I know I did in my maverick and I went around a corner to fast and there was loose gravel. I found my self in a fish tail recovering and then my wheels hit the pavement and I shoot off the road. The good thing no one or anything got damaged. (I shoot in a driveway) Anyway that scared me and now I find my self not being stupid and being more caseous. And I am glad it happend now because it seemed to set in how easy it is something could happen and you will be screwed.

As for the fact you want to get a 05 gt. I would love to have one(well I was looking at a mach 1). But I realized that it doesnt seem practical to get one. I quated insureance and it was like 400 a month. Plus car payment and gas and all the mods I would want to do to it.

But if you can be resposible for the power and handle it the way it was ment for, then it will be fun.
 
Folks,
He is not asking whether we think he can be responsible or not, he is asking if it is possible to lease a vehicle at the age of 16. Seeing how we do not personally know him, how can any of us judge his level of responsibility?
 
Jeff Gordon and many other people where racing professionally at 16 so I dont think without know this person anyone here can make a definative judgement on weither he would be responsible/able to handle the car.

Probably the best thing would be to get your dad to buy the car with financing and you making the payments. Also get the car on his insurance with you as a driver. Your father is probably one of the only people that can tell you weither you are ready for this car and the fact that it will be him that is legally liable for the car should make him honest about if he thinks you are ready or not.

Either way do all the math like people talked about above. I know many people that got a nice car just to find out that after payments/insurance/gas that they couldnt afford to go anywhere in their car because they where always broke. You will have alot more fun with a crappy car and alot of funds vs. a nice car and no funds.
 
I wouldn't do it. I'm 16 and have my 5.0, and yes I think my 5.0 is too much for any driver. A 16 year old 99% of them will go WOT at some time, especially in a mustang. If you wreck it, you ahve no money left. Do waht you want, but I would not do it. Beside the responsibility points, you probably can, but I would get a nice used fox-body or a good used cobra. Cheaper, just about as much power, and more money left for gas/mods/ etc, and if you wreck, your not totally screwed. Just my .02.
 
90_Red_LX said:
I think my 5.0 is too much for any driver. .

LOL... 5.0L isn't enough power for me.. I don't ever want to buy a Mustang that is slower than a LS1 or Mach 1.

If he wrecks the car insurance will pay for it.

AdamD, Unless you can afford $450 a month for payments and another $400+ a month for insurance I'd say go for a used 5 year old Mustang GT. And since you are young get a Stang with traction control. It will help you not kick the back end out and into a ditch.
 
I meant any 16 year old driver... :D lol, sorry

I also am parking my 5.0 from daily driving when my dad gets one of the jeeps fixed. I just would feel better not putting as many miles on it, and I know while I love my 5.0, I have and done have made some bad mistakes that I have come out lucky so far, but feel that I won't.
 
I don't see why the dealer wouldn't let you buy it, you'd most likely need a co-signer though since you have no credit.

But I think it is a bad idea. If I had my 97 back when I was 16 I would be dead. Kind of like if i had a '03 Cobra right now! But that is just me, you may be more responsible.
 
tylers65 said:
Folks,
He is not asking whether we think he can be responsible or not, he is asking if it is possible to lease a vehicle at the age of 16. Seeing how we do not personally know him, how can any of us judge his level of responsibility?

We already know more than enough to answer his question. As has been posted, NO he cannot lease a vehicle. At 16 you can't enter into such a contract. Nor could he buy the car, for the same reason.

If he gets a car, any car, it will be in his parents name.
 
Adam, do what I did. At 17, since thats the driving age in NJ, my parents bought me a decent stang, used 2000 V6. I worked hard for 3 years and at 18 my Dad started a cheaking account for me and co-sighned a credit card for me. I made small online purchases to establish a small amount of credit, 3 months ago, at 19, I bought a Mach 1 :D . My parents had to co-sighn for me. If you wait 3 years, save a down payment, and get a loan in your name at 19, its an excelent way to establish your own credit, if at 16 or 17 you let your dad buy the car at your expense, you'll be spending 26,000 and none of that credit will be in your name. So wait until your at least 18, that way the car loan is in your name. Even though it might save you some cash if its in your fathers name, you need to establish that credit so it will make life easier for you in the future. :spot:
 
i dont feel like reading through all of these posts so im sorry if this was already said... if you want it you should get it. im sure you can afford it if your dad hooks you up. by this i mean he should put everything in his own name, that way he can get his low interest rate assuming he has good credit. and then just pay him for the monthly payments. if you have a job that pays pretty good, im sure you could handle it.

and as far as some of you suggesting that a 16 year old cant handle the power? please. when i was 16, i had a 13 second car and i was perfectly fine. if you think youre up to it, im sure youll be fine too.