My question is, did anyone use a loan to pay for your turbo? if so, what kinda payments are you paying?thanks

 

i'll be in debt for life

 

I took out a loan for $2000 a year ago and was paying 180 a month. But I paid it off quicker to avoid interest charges.

 

My credit card owns me for the next 2 years

 

what do they look for in order to approve the loan?

 

Mine owns me for the next 5 probably!! Sucks, **** adds up so damn fast, I have no idea how I spent sooo much money this summer

 

Credit cards suck. I just waited a little longer and worked some mad overtime and paid cash for all my turbo stuff. No debt and turbo goodies, yay

[edit] If you do have to go in debt for your stuff I would suggest a small loan over a credit card anyday. You will get a way better interest rate and you can pay the loan off as quick as you like. I had a $3000 dollar loan in the past for something not car related and it was like $140 a month, I paid it off as quick as I could tho to avoid all the interest. Cash is always best though, unless you like lots of bills

Justin


[Modified by justinCO, 3:38 PM 9/22/2002]

 

yea, try having both, a loan and credit cards...and im still making payments on the cars!....oh ya, i havent even started to buy my turbo stuff, and my engine isnt even back from the machine shop yet...but itll be worth it

 

Ditto..........well worth it!

 

Never been in debt, but I'm still 19. Save till you get enough for what you want, then get it. Something like a turbo that isn't really needed...You wait less time to save the money than you will spend paying off the credit cards (Unless yer mad rich )

jB

 

loans would be the way to go over any credit card. credit card companies will throw things in you didn't know they had within the small print that most people don't read. i took out a $6,000 loan and am making $130 payments monthly.

 

I only have one credit card to avoid shopping sprees and I owe 700 bucks. Start out by getting a small loan you could afford, then pay it off, then ask for a bigger loan, and then bigger....

 

going in debt to boost.
does is make that much sense.?





[Modified by Giuseppe, 9:27 PM 9/22/2002]

 

Going in debt to get boost is a bad idea...

Pay for your mods in cash...

Suprdave - Who is in debt for his first round of mods...and only pays cash now.

 

well, yeah it makes sense!! we'll be fast!!

besides...u only live once..he,he..

 

humm, loans & credit cards
Im in the same boat.
Calculated everything and it turns out..
With a massive loan and the use of credit cards for a 4year term. I can get full motor build, turbo parts, and..
no boost because the cost of Hondata and the necessity of a laptop to tune it. phauk

 

i got loan for 2k a year ago for the turbo but I paid it off within 6 months. I just got anonther loan for 1500 for hondata and injectors. I again plan on paying this off early. As for the motor I paid for everyting in cash.

 

you do only live once, but there are such things as priorities!!
escpecially if you cant afford the few thousand it costs to get a
half *** kit.!

 

I have never owned a credit card

anyone know how much debt the US has from JUST credit card payments?

 

1. Credit Cards are great for buying stuff online and for auctions.
2. Responsible use of them helps build your credit.
3. If you make a plan to pay them off in a timely manner (and stick to it),
credit cards aren't as evil as people make them out to be.
4. In the end, interest expenses will only be 5% of my total costs for my buildup.
Time is money and I'd rather pay a little bit of interest than have to wait 2
years to accumulate enough cash for my setup.

>John

 

There are so many people who create a huge credit card debt, that they can never even pay it off. Many people end up dieing with out paying back all the money.

To tell you the truth, our country has accumulated over a trillion dollars in debt from credt cards alone.





[Modified by Bryson, 10:42 PM 9/22/2002]

 

credit cards are awesome they give me the
chance to buy the stuff i need and i pay them back later.

keep on using them. rack up your debt,
keep on making cc companies millions of dollars.

its a good thing !!!

edit: on a side note, going into debt to finance your education is another
issue altogether, the marginal costs WAY outbenefit the marginal expenses.

but **** when u have to eat cereal for DINNER.!!
(and ive read threads which stated this) for a clutch or a tranny
or anything thats not a necessity...



[Modified by Giuseppe, 12:56 AM 9/23/2002]

 

I only use CC when I have the cash to pay it off. I only use CC and ask for loans to build credit. I will only ask for a loan when I have money already in the bank.

 

How Is spending money we dont have a good thing?

It is like asking our planet to make more fossil fuels. It has been a fact of nature that you can't get something for nothing.

In theory it will work for a while, but I think it will cause more problems then solve them.

 

Credit cards are a tool, you just have to use them responsibly.

Very few things happen without a plan, and if you don't have a plan to get out of debt then you probably won't.

I'd be willing to bet half the people bitching about credit cards in this thread don't even have one.