Question about turbo? Financing?!

[diss7]

Originally Posted by utekineir

If you need to finance a turbo you shouldn't be buying a turbo.

The same should be said about the car in the first place.

[Gixxersixxerman]

Agree with the rest.. Being young and ruining my credit then paying for it for years suck.. Finally out of the whole, fixed credit and what did I do, buy the car lol.. Only parts or anything that goes on the car is bought up front, not credit cards or financed.. Also it's FI, we had a club member install a turbo, 15 mins later it had a popped motor.. The shop that did it is/was a very reputable shop.. Built lots of high powered cars and nationally known.. They blamed the failure on him at the track the week before and "oil starvation" he ended up trading the car in with a ruined motor and months later sold the turbo kit.. Last week the guy was going through his new kit with 15 mins of use, and opens the wastegate, 15lbs of spring in there on a 91 tune for 7psi.. Just like that his situation changed.. You need to make sure your in the financial situation that if that happens, you can still do something about it.. He took a 3k loss on the turbo and 8k loss on the FRS, then ended up getting a WRX and not sure where he is at on that.. But over all at least 10k he was out.. That's a possibility when messing with your car.. 90% of the FI cars here haven't had problems.. We have lots making huge power and driving daily.. But there is that chance

[utekineir]

Originally Posted by diss7

The same should be said about the car in the first place.

maybe in the land of crocodile dundee and huge knife fights

but here where interest rates on auto loans can be less than the return on a low risk investment that isn't necessarily the case.

even though that isn't what most people are thinking when they finance a car

[diss7]

Originally Posted by utekineir

maybe in the land of crocodile dundee and huge knife fights

but here where interest rates on auto loans can be less than the return on a low risk investment that isn't necessarily the case.

even though that isn't what most people are thinking when they finance a car

There are as many crocodiles in New Zealand as there are Americans that appear to possess basic geographical knowledge.

[utekineir]

Originally Posted by diss7

There are as many crocodiles in New Zealand as there are Americans that give a shit about distinguishing an aussie from a kiwi.

Fixed

[DeBiase]

Originally Posted by diss7

There are as many crocodiles in New Zealand as there are Americans that appear to possess basic geographical knowledge.

Lol. But if I don't finance a car I'll never afford one. Well I could but it would take a long time.

[MeFryRice]

I'll be beating a dead horse by now by saying I stand by those that have already answer with "don't do it". Lets say something happens and you end up totaling the car (I pray that this doesn't happen). You're still stuck with the loan to pay off for something you're no longer enjoying. What happens if/when the engine lets go? Are you going to get another loan to fix it?

If you still feel the need to borrow money for said turbo kit, see if your parents are willing to help you out that way no interest is due nor do you risk ruining your credit. I consider credit these days as your life report card. Everything is based on these days; job opportunities, utilities, insurance, etc. This is something you definitely don't want to ruin as it will haunt you. Look at everything in the long term, not short term gains.

Originally Posted by diss7

The same should be said about the car in the first place.

Depending on the interest rate. I purchased my car with a 2.25% rate and based on the dollar amount that I borrowed from my credit union to purchase it, I'll have less than $1,500 in interest paid at the end of the loan. I'm always one month ahead in payments and paid a good chunk of the loan up front so I'm not worried about being upside down. Although I could afford a much more expensive car, I'd rather have a car note that is well within my reach opposed to stretching out my finances.

[DeBiase]

Originally Posted by utekineir

Fixed

oooohhh

[diss7]

Originally Posted by utekineir

Fixed

That actually made me laugh!

[djliquidsteele]

Originally Posted by Monogram

So you are on an automotive internet forum, bragging about using your high powered attorney to rip off a parts vendor for $8,000.00, while giving advise?

"Hey buddy, don't go ripping off vendors like I did"!

I guess it's good advise.

Touche.

But the parts vendor got their money up front as it was through a third party finance company. And yes, I was young and dumb. And $2000 was the original debt. The rest was interest and fees. And if you REALLY want to get into, I had to use a lawyer because the judgment was gotten illegally without notifying me there was even a case being brought against me. So long story short, I kept myself from being bent over while paying my original debt.

[PoWn3d_0704]

I bought my car with cash and I still wouldn't finance a damn thing on it. No way in hell do I want to wreck my car and then STILL be stuck making payments on her.

[ZionsWrath]

This reminds me of a website I found that finances cheap wheels with chinese tires, but worse... Just no.

Honestly I feel that even buying this car I should have waited but it's too late for that ^_^

Don't spend unnecessary money on something like this until you are living in you own place and have a secured job and are contributing to your retirement funds maximally. (You can omit the last part if you are following YOLO)

[midnight23]

If you want some more power at a low cost just get headers and a tune to get a bit more kick out of it while you wait for boost.

[diss7]

Easiest way to get more 'power' is to run the shittest chinese tyres you can find on the rear, and get a track pipe.

It will feel like it has much more power, at least over 9000.