Ok I have thought long and hard day and night about turboing my car and all the ways to go. So I've finally thought out getting a loan and all that fun stuff and I have narrowed down my goal to somewhere around 170 or sum hp. And I'm leaning towards buying the Hahn stage 1 turbo kit and getting my tranny redone. And I would really just like some advice or input on the way I'm going. Thanks.
getting a loan to modify a car is stupidity at its finest. do not do it, not worth it. save your money and buy later rather than get a loan and be in debt.
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- Sold my beloved J in April 2010 -
I to would advise against getting a loan to modify a car. Look at it this way say you get a 6k loan to do work on it. after the setup any unexpected parts tuning tranny work and such your going to eat it up quickly. Then say you got it going like a dream and something internally in that engine fails what are u going to do? Paying on a loan for a moddifyed part thats on a car sitting in your drive while your saving this time to fix it. Plus your reg. says your cars a 97 sunfire how many miles on that engine? your young when u boost it your going to want to keep getting into that throttle who knows where thats gonna go. just giving u some advice from my view.
I have a loan to build my car, but my car is also my business. I can write it off....you can't. Don't do it. As much as I'd love to sell you a kit and make some money I'd feel really bad about it. Save your money and earn your build. You'll feel much better that way and you won't have to worry about making a payment every month for the next 3-5 years.
If you decide to not heed the advice given, give me a shout. I'll get you those parts you need.
I used to race cars, now I race myself.
5K PB: 24:50
10K PB: 54:26
This post scares me.....
Or it's more funny when people care more about modifying their car than financial well-being for the rest of their life.
Sunfires... eh (Tom) wrote:This post scares me.....
Or it's more funny when people care more about modifying their car than financial well-being for the rest of their life.
Isn't it. I'm seeing this on more and more forums though. It's not just J-Body guys.
I used to race cars, now I race myself.
5K PB: 24:50
10K PB: 54:26
Get a second job. That is how I pay form all my mods. If you make the money then spend it when you finally decide it is no longer worth working so much at least you are not in debt.
FORGET GIRLS GONE WILD WE HAVE GOVERNMENT SPENDING GONE WILD!
I thought about it myself, but realized the following.
1.) It's a Jbody, not worth a signifigant loan agreement to modify it
2.) It's my only car, and in my case, wasn't even paid off yet
3.) Interest rates SUCK
4.) School loans need repaid too
5.) Health insurance would be nice
6.) Interests rates Really Suck
7.) Patience pays off, I'm now done paying on the car and can afford to do many things with it. Plus I was able to afford taking care of it rather than being broke and having to pay on outrageous loans and bills rather than do the simple repairs.
Good luck, and have fun!
well...lets just see here
first loan- $2000, got this to modify my beretta...money well spent-acomplished my goals.
had $800 of it paid off...
found my 97 z24 in a car lot-had to have it- refinanaced and now had a loan for $6000
had it paid down to $5000, refinanced again for $500 to buy parts to get the z running after a blown motor...
keep in mind, the original loan woulda been paid off at this point...
for the next 2 year after words i still paid and paid... i blew the motor again, and now the car sits with no engine and the body has gone to total crap because of the weather.
i now owe $1600 on that same loan...the car now sits in a garage, no motor...paint is pretty much worthless.
moral- it really BLOWS to hafta pay $150 a month for a car that just sits. and if i would have never gotten that first loan to mod my car...it woulda been paid off by now.
DO NOT GET A LOAN TO MODIFY YOUR CAR.
White 98'Z-alive n kickn
Black 97'Z-down for the count
Just Save ur Money and little by little buy parts .. BUT""" BUY THEM AS SOON AS U GET THE MONEY"""" or U WILL SPEND IT IN SOMETHING ELSE...more stupid... so if u get even just $200 go and buy something for it.. just make sure u dont buy something u will have to replace cause u want something bigger or better later on...
505xplicitZ24 wrote:Just Save ur Money and little by little buy parts .. BUT""" BUY THEM AS SOON AS U GET THE MONEY"""" or U WILL SPEND IT IN SOMETHING ELSE...more stupid... so if u get even just $200 go and buy something for it.. just make sure u dont buy something u will have to replace cause u want something bigger or better later on...
To me getting a loan is just as bad as spending the money as you get it. Are you going to have money when it breaks down? no. because you spent it on a body kit... then you have to take out the loan to actually fix the car.
Modding car is second to having money saved up for a house/rainy day. I usually try to make sure that if I'm spending money on my car, I wait until I have AT LEAST the same amount to put into savings. It's just a cavalier, it can wait to get the turbo or whatever other things you want to do to it.
Anything good is worth waiting for
" To study and not think is a waste. To think and not study is dangerous. "
Ok thanks guys for the input. And I understand where you're coming from and all but the loan i take out is only going to be for maybe 1000 - 1500. Which will most likely only be about 100 or so a month and 25 bucks outta each paycheck doesn't seem to bad to me. But I am still figuring things out right now and I guess I ill see what happens. And thanks again for comments.
The only situation i could see this being semi good idea is buying a new car. Like buying a 8K car and geting a loan for say 10k and using that extra 2K for fixing it up. Even then it would make me a little uneasy. Plus payments suck! What would hapen if you got the loan and 2 weeks later get rear-ended and total the car? Think isnurance is going to help you pay off that loan? To many posable ways for things to go wrong.
- 97 Z24 Racecar work in progress
- 04 WRX STi
ATR Crew Member
