Quote:
Originally Posted by Goingnowherefast
This.
OP, you keep mentioning you have the money to buy it out right. I don't know why you'd even consider financing a purchase like this that will likely hurt your credit more than help it.
Additionally, cheers on the mechanical engineer route. If you're a car-guy there's no better career for you, and it pays well. But I think you'll also find that as you age, and you surround yourself by fellow engineers that putting a ricey looking body kit, with stupid expensive wheels that don't fit is going to net you quite a lot of scrutiny. Honestly, I would save the money. If you're looking to do something car related with it, try a track day and then put the $5,000 that you saved into a Roth IRA account. Also worth noting, there's basically no greater way to destroy a cars value then to add a wide body to it. People generally like clean, unmolested cars, not one's cut up to look like their favorite youtubers car.
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I have financed parts over the years and when I did a credit report in November they’ve only helped my credit in small increments and I don’t mind continuing that trend with 0% interest. Keep in mind I’m only financing using small inquiries so it hardly lowers my score initially and then it just goes up overtime as I pay.
Secondly I plan to keep this car for the rest of my life if I can or pass on to my future son etc. so the whole value of the car thing kinda doesn’t apply to me. If ima this car for that long I might as well make it look nice how I like it. And I personally do love widebodies.
I do plan to take the car to the track possibly after I rebuild the engine and supercharge it, which are future plans. I just don’t have the time for all that right now.