Pay off car or buy 6.0L for it? help me decide!!!
01-12-2007, 06:11 PM
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Pay off car or buy 6.0L for it? help me decide!!! I've ran into a dilemma here, For my 1990 Firebird, I am getting my GI bill backpay and will be more then enough to pay off my bird, I took a $2k loan for it, paid 1200 for the car and 375 for rear axle, suspension, and driveshaft, as well as wheel spacers for the front. Anyway, $1900 is how much I owe on it still. I also picked up a good TH350 core for $50.
Anyways, I found a used 36,000 mile 6.0L (Vin "U" LQ9) from an 02 truck. It is for sale for $1500 and comes w/ a 90 day warranty. It may or may not come w/ all accessories and coil packs. Its hit or miss w/ those at the yard Im looking at. I obviously wouldn't swap it in right away, Id at least pull the oil pan and replace the cam. I would put it on a stand and piece the rest of the build together.
What should I do???
Anyways, I found a used 36,000 mile 6.0L (Vin "U" LQ9) from an 02 truck. It is for sale for $1500 and comes w/ a 90 day warranty. It may or may not come w/ all accessories and coil packs. Its hit or miss w/ those at the yard Im looking at. I obviously wouldn't swap it in right away, Id at least pull the oil pan and replace the cam. I would put it on a stand and piece the rest of the build together.
What should I do???
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01-12-2007, 10:32 PM
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Originally Posted by cabech984
The thing about it is that if I pay off the car, Ill likely have to take another loan to do the Swap. I dont know. The car is only $100 a month
I personally would pay it off then save up the money to pay cash for the mods.
But if you are hell bent on getting a loan to pay for mods I would figure out what the interest rate would be. If it is higher than what your current loan is take the $2k from the Goverment and buy the engine. If the loan for mods would be lower interest pay off the car and get the loan to buy the engine.
01-12-2007, 11:55 PM
#10
Regardless of anything, I'd pay off the car. How old are you? When I was 18-19 I made a few dumb financial decisions and it took me almost 4 years to fix them...I've only been in a good financial situation for about a year now (I'm 24) and it's been the best year ever because of it. Wait until you have some cash saved up and buy an engine to swap in. A 6.0 swap isn't going to happen for the $1500 you're buying the engine for, so wait until you can afford the engine outright and afford the downtime with the car for you to figure out what else you need to buy, and save up and buy it. I'm paying off my truck, so the most "mods" I've done to it is a decent stereo and sylvania silverstars, I own my car, so I'm going a bit nuts with mods on it, which also means it's taking me a long time because I'll save up some cash, decide whats next on the list, buy it, then do a lot more engineering/fabrication while I save up more cash for the next phase. It' sbeen worth it at the end of a logn day when I can sit down and not think "should I go get a second job to get out of debt?"...instead it's "lets find out what stuff will cost, and then figure out how long I'll need to wait to buy it outright"...and that usually isn't very long at all.
01-13-2007, 01:29 AM
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Here's another option, keep the ol 6-banger in the 1990, which is worth a hell of a lot less than your 1998 T/A, and just DD the hell out of it. There is a lot to an LS motor swap into a 3rd gen. I say you should pay off the car, then start saving money and mod the hell out of the LS1 T/A, make that one your racecar.
01-13-2007, 01:43 AM
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Originally Posted by 09CPTN
Here's another option, keep the ol 6-banger in the 1990, which is worth a hell of a lot less than your 1998 T/A, and just DD the hell out of it. There is a lot to an LS motor swap into a 3rd gen. I say you should pay off the car, then start saving money and mod the hell out of the LS1 T/A, make that one your racecar.
Sounds like a great option to me. You've already got a car with an LSx in it, why not just mod that one and keep the other as your daily driver?
01-14-2007, 12:06 PM
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Im probably gonna wait a little longer. I dont need it as a DD, I got an ultra reliable 95 Saturn(just drove 400 miles yesterday to Detroit auto show). My 90 is def. getting the swap at some point. I know that the engine isnt the only thing Id have to buy. Id still have to build a tranny, front suspension, wiring, fuel, exhaust. I may just wait and buy a complete pullout engine & trans. Looks like I'll pay off most of it plus an old Credit card bill.
I just get too excited about this stuff and when I got it it aint nothing to me.
I just get too excited about this stuff and when I got it it aint nothing to me.
01-15-2007, 01:36 PM
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You could sell the nittos you dont need for that 3.1.. haha
If you just pay it off and save for a few more years youll have enough money to do what you want and the engine/parts will be cheaper and more available.
If you just pay it off and save for a few more years youll have enough money to do what you want and the engine/parts will be cheaper and more available.
