Wimimc

iTrader: (2)

are you doing mods? if so do you have any special way of using/saving your money?

by that i mean if i'm gonna spend $500 bucks on a part i may want to put $500+my next months payment when it comes up.

or maybe doing mods once a year.

i'm trying to figure out what to do. right now i have the idea of taking 20 bucks a week out of a paycheck for mods. then when i pay off the car i'll use that money for mods

80 a month
which is 960 a year.
1920 in 2 years.

now sure that can go to mods but with monthly payments of 292, that 960 a year could cut 3 months off.

just going back and forth is making me crazy lol, what are you guys doing!

NoGo

iTrader: (2)

save save save or borrow borrow borrow.

I'm pretty sure that's how most do it.....probably more people on the borrow borrow borrow side though.

RobRomero

iTrader: (1)

Just DO NOT make the mistake of taking out a loan for mods. I've read post after post of people with that regret.

Wimimc

iTrader: (2)

yeah that i would never do.

though for a procharger... haha just kidding

250racer

iTrader: (10)

How about a second job for mod money!

cookba

iTrader: (10)

your going to have the mod bug, its natural. The longer you take to mod the more experience you will have at picking the right parts the first time. So you will in the end save yourself money.

Pay your car off as fast as possible. The APR regardless of what it is, is stealing money from you. The faster you get rid of a car payment the easier life is and the faster modding can begin.

Wimimc

iTrader: (2)

that iss an interesting thought. because in the summer i do have 2 jobs. lifeguarding, i usually make about 2,500 by the end of the summer. though i never have it because its usually spend on necessities, car necessities that is.

hm i like that though

Slowhawk

iTrader: (12)

2- jobs. Pay the car off as fast as possible.

YeloFevr

When it comes to my car, I refuse to load up my credit card with something that I couldn't pay off immediately. I just did basic bolt-ons while I finished paying the car off.

x3d187

iTrader: (11)

I agree totally. I pay more than what I need to pay on my payment, pay all my bills and actually still have money to spend modding the car. I have a very strict budget that I stick to and usually I can get a part every other week(I get paid weekly) and still am able to go hang out with friends etc. It really just depends on how you want to do it, but I suggest making payments/doing bolt ons over time.

itsslow98

iTrader: (18)

Hindsight for me, i wish id have put the money towards the loan rather then doing anything to the car. Im done with the car for now until its paid off then i can get serious with it the way i want.

The thing that bothers me the most now is, if something major happens(motor, trans, rear) if i cant afford to fix it and it sits for 6 months, im still paying the loan every month and not using the car.

Devilish34

iTrader: (2)

I have the money for the next round of mods but don't feel like spending it yet. The only time I put something on credit is if it's 0% for 6+ months and then pay it off before then.

DannoWS6

iTrader: (5)

I've had a car payment every year for the last 10 yrs of my life.

I bought my Trans Am practically new when I was 21 in college, financed it for 7 yrs (yeah I know). I did everything to the car before it was paid off for the most part. In the time frame I've owned my TA I've also gone through 4 other cars I used as drivers, 2 of which I also financed, not including my wifes last 2 cars either.

My advice, pay off the car asap. You can do little things to dress it up and add a little pep, but don't go big till you pay it off. Look into a 2nd job, a better paying job, or another means you can generate income, so you can pay it off early .

Until you have the title its not your car if you loose your job they will repo it along with your forged motor or 9" rear if they can..., plus if you slap a blower on it and smoke a couple ringlands in a year or 2, you are looking at almost 3k to fix it if you pull the motor yourself. Sucks on a car you are making payments on.

Also before you go big on a car make sure its the car you wanna keep. Stripping it down later or selling it as is sucks either way and you'll take a hit.

Like everybody said, pay it off as fast as you can and look to generate more income. 2 grand is a drop in the hat in this game. Helps to have buddies who can wrench too, you will learn and save money, although that can sometimes feed the mod fire...

Atleast you are questioning your intentions now. Last thing you want is to skip college to work 2 min wage jobs to afford your fast ride, parked next to your trailer or your moms house when your over 30 lol.

What it all boils down to...
My Gigalo side job made it all happen for me

DannoWS6

iTrader: (5)

Yeah don't get stuck in that mix either. you don't want cc debt with today's rates. Nowadays for anything if I can't pay cash or pay it off that month I don't need it. I keep the CC for emergencies only.

Look towards the future too, if you are planning on things like buying a house in a few years, you want to be in good credit standing with no debt, it will save you a ton in the long run when you get the better rate or qualify for the better loan program.

Devilish34

iTrader: (2)

The rate is what makes sure you pay it off.. Otherwise you get nailed with the back interest. I personally only do it if I have the $$$ for that which I'm buying

Tracer X

Pay your car off as fast as you can. I would do little-free mods first. Also ask for mods for X-mas, birthdays, father day, Black History Month, Teacher Appreciation Day...etc. That's how I got some of my stuff when I was in the game.

I ALWAYS pay my CC off at the end of the month. I hate giving those companies extra cash that I've worked for. Plus it keeps my credit score high.

Good luck with whatever route you go.

DannoWS6

iTrader: (5)

Man you get stuff for black history month too, man I was gypped. LOL. I got excise tax for that month.

Wimimc

iTrader: (2)

thanks for the advice, i guess i'll stick with little stuff like speakers, hiding the antenna, etc.

i seldom use my credit card, i usually wait till i have enough money before i buy a part

i'll just pay the loan off early and ask for parts, or even gift cards from summit or something.

stumprrp

iTrader: (2)

i pay a note on my silverado but its not that much - 199 dollars a month, but the insurance KILLS me, it just went DOWN to 349 a month, full coverage and im only 21. i love my car but i dont want to work 60 hours a week to be miserable and have no time with my girlfriend. between my regular job (40 hrs) and powerlifting im worn out enough by friday night.

back on the topic, cars are just expensive dude, if you can afford to put away a little a week (even 20 bucks) by next season u could have enough for a good amount of upgrades.

RedRocketZ28

iTrader: (19)

I feel the same way. I spent money on my car and now am regretting it. I sometimes regret getting rid of my LT1 or my 99 Z28 I had before the SS. Both were paid off, both had low miles, and both were very clean. I am sure both of those cars would be quite a bit faster than my current car is as well.

I need to focus on paying down my debts now. I can't afford to have my car keep causing me problems and needing fixed either. I would be screwed if my motor decided to pop right now.

Great advice as been given in this thread. Pay off the car as quickly as you can. Get established, and start having some fun modding the car.