tax return FTW

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Old 02-28-2007, 01:19 AM
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Default tax return FTW

well just found out how much my tax return was, with the money i have now + tax return i can pay off all debt i have right now and every penny i make from now on + $$$ from selling the LT1 can go towards a new vehicle which is looking like $4500+ as a downpayment (which isnt bad for a full time college student).
Ill have my car all back together from putting it back to stock here in at most 2 weeks so i might use my spring break if my car sells quick enough to go get my new car if i find one fast enough lol. Which those timelines prolly arent realistic but i can hope for it lol.

Got a few question for you guys though i have a few options

1. Get a low mileage nicely modded f-body thats already fast enough to keep the mod bug away for a while or a clean 2002 mostly stock f-body and not be in the hole as long paying it off and still have money left later to mod
2. Or get a more expensive car that is stock and wouldnt be as fast i.e. vette, 03 cobra or ls2 gto and not be albe to do anything to it for quite a while, like until after I finish my M.E. degree

this is where im starting to loose my motivation to try and get a vette, i can prolly get a 11 sec streetable f-body if i wait for a good deal to come around or my other options of pretty much completely stock cars that wont be even close to that

What you guys think
Old 02-28-2007, 02:36 AM
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Do some ME co-ops, I make about $23/hr when I'm doing one. Not bad for having next to no responsibilites. I should be graduating December '09 or so.

I would buy a clean, new f-body, that's bone stock, and put every bolt in it yourself. I wish I had saved my money and bought a nicer/newer/cleaner car. Mine was stock when I bought it, but it wasn't in very good shape.
Old 02-28-2007, 07:48 AM
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Financing a 5 year old car could cost you...

In 2004, I bought my 99 SS with 10k miles on it. I have an extremely good credit score and they gave me an 11%+ interest rate. After 4 months, I said screw that and paid that bitch off.

Being a college student with limited income could hurt you...don't get in over your head.
Old 02-28-2007, 07:58 AM
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Keep the LT1 for now. Just save your money a few years and buy a car in cash and save yourself the interest. Keep in mind usually one full year of payments is strictly interest.
Old 02-28-2007, 09:19 AM
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Originally Posted by brad8266
Keep the LT1 for now. Just save your money a few years and buy a car in cash and save yourself the interest. Keep in mind usually one full year of payments is strictly interest.
id like to do that but im going to be driving 100 miles a day and if i end up at Texas Tech thats a 1000 mile round trip to come home, so i want to get something a little newer

As for the financing i know all about that stuff, i already make 500$ a month working 2 days a month and whatever part time job i have is just more income other than that, this is where my dad is pretty cool i have a really high credit score also but no history, he will cosign for me to help out with the financing and i have plenty of money/income to afford a 20k$ or less vehicle maybe slightly over 20k$ since my downpayment would prolly be about a 1/4 of the total price

money isnt really a problem, i have a limit on how high the initial cost of the car will be but other than that theres not to much else to worry about, i just dont know what i want to do now

Also i do all my loans through a local bank that my dad is good friends with the owners and officer's so i usually get the hookup on loans, i just got a 3500$ loan 2 years ago for fixing the tranny on my car with a interest rate of like 6.5% which isnt the best but considering the amount thats pretty good
Old 02-28-2007, 09:24 AM
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Originally Posted by TheBlurLS1
Do some ME co-ops, I make about $23/hr when I'm doing one. Not bad for having next to no responsibilites. I should be graduating December '09 or so.

I would buy a clean, new f-body, that's bone stock, and put every bolt in it yourself. I wish I had saved my money and bought a nicer/newer/cleaner car. Mine was stock when I bought it, but it wasn't in very good shape.

yeah im really leaning heavily towards this now, if i go this route i may keep looking at C5's also cause ive been watching and every now and then ill see a 50k or less mileage C5 going for 15k$-17k$ which i could afford easily, if i cant find a good C5 i know i can find a good f-body




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