K, Getting A Loan To Finish Off My Car.... Do I Got Everything?
#1
Member
Thread Starter
Join Date: Nov 2003
Location: UT
Posts: 363
Likes: 0
Received 0 Likes
on
0 Posts
Car: 88 Camaro S/C
Engine: 350
Transmission: 700-R4
K, Getting A Loan To Finish Off My Car.... Do I Got Everything?
K, I have an '88 that has just had all the body work done, the rust worked over, shaved the hood emblem, shaved the antannae, shaved the door bumpers, and it's got an '82 fg hood, 92 gfx, and a hi rise. It's just been painted as well, so most of the exterior is done.
It's got Flowmaster exhaust, 18" Eagle Alloys, but I need tires for them, a'94 disc rear end, 4th gen seats, glow gauges, ipod, etc. So these are the last few things I'm gonna do and I think it'll be done. I have a Paxton supercharger, I just need the mounting brackets and pulleys.
So here we go.
$1200 - supercharger brackets and pullys, and various parts for the rear end swap.
$550 - tires so I can put my wheels on
$150 - dropzone lowering springs
$300 - Have jongbloed cowl worked over and painted to match my car
$175 - Sub Frame Connector's
Anything else I should really consider before I decide how big the loan will be?
It's got Flowmaster exhaust, 18" Eagle Alloys, but I need tires for them, a'94 disc rear end, 4th gen seats, glow gauges, ipod, etc. So these are the last few things I'm gonna do and I think it'll be done. I have a Paxton supercharger, I just need the mounting brackets and pulleys.
So here we go.
$1200 - supercharger brackets and pullys, and various parts for the rear end swap.
$550 - tires so I can put my wheels on
$150 - dropzone lowering springs
$300 - Have jongbloed cowl worked over and painted to match my car
$175 - Sub Frame Connector's
Anything else I should really consider before I decide how big the loan will be?
#3
Junior Member
Join Date: Apr 2005
Location: Tennessee
Posts: 52
Received 0 Likes
on
0 Posts
Car: 92 Camaro RS
yeah dude I definetly wouldn't take out a loan for that. Loans are okay if you need something, but you don't really need a super charger and what not. That's more of a want than a need, and if it's a wan't, I'd save the money or else you'll put yourself in the hole, especially if you really do need something soon.
#4
Supreme Member
iTrader: (2)
Join Date: Jan 2003
Location: Maryland...DO I HAVE TO ADMIT TO THAT?!
Posts: 1,857
Likes: 0
Received 0 Likes
on
0 Posts
Car: 1991 Chevy Camaro RS
Engine: 283
Transmission: 700r4 Auto
you really need to think about what all you want to do with the car. i agree with Dan & rbeshadow but its YOUR money & only YOU know if you can truely afford the loan & all that. i guess what im saying is im not for the loan & im not against it either. its whatever YOU want to do not everyone. good luck with everything!!
#6
Member
Join Date: Dec 2004
Location: Garage
Posts: 208
Likes: 0
Received 0 Likes
on
0 Posts
Car: 85 Camaro Z28
Engine: 350
Transmission: 700-R4
Originally posted by shawn18jgr
Just get a low interest rate credit card. It might cost you $100.00 or so over 12 months to borrow 2k
Best reguards
Just get a low interest rate credit card. It might cost you $100.00 or so over 12 months to borrow 2k
Best reguards
#7
Member
Thread Starter
Join Date: Nov 2003
Location: UT
Posts: 363
Likes: 0
Received 0 Likes
on
0 Posts
Car: 88 Camaro S/C
Engine: 350
Transmission: 700-R4
Yeah, I know it may not be the best idea in the world, but basically, my car is completely paid off, and I'm already getting a loan of 1100$ at least to pay off my other 3 credit cards. So now I'll have one low payment. The money is for the most part just to finish off the stuff I already have.
Like I have a supercharger, I just need the extra little money to put it on. I have the 18's, but no tires. I have the jongbloed cowl but I just need a couple dings fixed and have it color matched.
The SFC's are a given with a supercharger heh, and the lowering is one of the few "unneccessary" things.
But what do you guys really think? I figure, since my cars paid off I have no monthly payment, other people may age are getting into debt with $10,000 plus cars, and I'll just have a $3000 debt that will ultimately paid off with tax returns this year. All my extra money for the past year and a half has gone into my car, and now I'm finally close to getting it close to how I've always dreamed.
Anyways, if I don't put it into my car it's going into a quad or a k5 blazer
thanks for any feedback guys!!!
Like I have a supercharger, I just need the extra little money to put it on. I have the 18's, but no tires. I have the jongbloed cowl but I just need a couple dings fixed and have it color matched.
The SFC's are a given with a supercharger heh, and the lowering is one of the few "unneccessary" things.
But what do you guys really think? I figure, since my cars paid off I have no monthly payment, other people may age are getting into debt with $10,000 plus cars, and I'll just have a $3000 debt that will ultimately paid off with tax returns this year. All my extra money for the past year and a half has gone into my car, and now I'm finally close to getting it close to how I've always dreamed.
Anyways, if I don't put it into my car it's going into a quad or a k5 blazer
thanks for any feedback guys!!!
Trending Topics
#8
Senior Member
Join Date: Sep 2004
Location: Chouteau, OK
Posts: 572
Likes: 0
Received 0 Likes
on
0 Posts
Car: Bitchin' 92 RS
Engine: 350 TPI
Transmission: 700R4
i'm all for the loan, with you can get your payments under 200/a month and you'd have it the way you want. I'm doing the same thing with my car
#9
yeah i take out loans all the time for my car. its my way of building me credit. it works fine. like he says i have no car payments and with loans you can do alot at a time and pay it back, take out another and do it all over again. i say take another couple grand j/k
#10
Supreme Member
iTrader: (1)
Join Date: Aug 2004
Location: colorado
Posts: 2,122
Likes: 0
Received 0 Likes
on
0 Posts
Car: 1992 Trans/am convertible
Engine: 305 TPI
Transmission: 700r4
Axle/Gears: 2.73 drum WS6
My girlfriend took out 1200 bucks for a computer and she is paying 40 bucks a month for 3 years. It sounds great, if you know what I mean. My parents would kick my *** if I did that. So, if I get enough guts I'll take a loan out and install 350 and NOS it!
Or get a crate motor.
If you love your car, than go for it. She is worth it.
Or get a crate motor.
If you love your car, than go for it. She is worth it.
#11
Supreme Member
Join Date: Apr 2001
Location: Changing Tires
Posts: 5,675
Likes: 0
Received 3 Likes
on
3 Posts
Car: too many ...
If you do decide to go for it I'd say definately get a personal loan from a bank instead of using credit cards. Credit cards are evil, get rid of them all!! The incentives always sound great, but its the small print that will come back and get you, things you would never have thought of that can void the rates you have, not to mention shady re-occuring charges. I've had my perfect fixed rate shoot to the roof out of nowhere because of a 5 day late $24 payment 4 years prior on a completely different card that had been payed off and closed. They also usually have very bad customer service and catch you out of nowhere with unknown fee's. Once you owe them they own you and you have to deal with it. Banks are much more reasonable, they will not try to stab you in the back. They cost a little more in the long run but from my experience its alot safer. I've only taken out loans to buy the car itself and I always pay them off before modding. But I know people that have done what you're considering. The car does get finished alot faster and you can enjoy the parts earlier. Only bad part is if the part is broken or stolen and you're stuck making payments for stuff you dont have or use anymore. Consider getting the loan for a little more than you think you need, just in case of unseen or unknown hangups (this happens to everyone), then whatever you dont use you can pay right back.
Add in the cost to have the SFC's installed. Also might as well do struts/shocks if you're gonna do springs. And bushings, dont forget about bushings. And make sure you got everything you need for the S/C setup, fuel system, injectors, tuning, etc ...
Add in the cost to have the SFC's installed. Also might as well do struts/shocks if you're gonna do springs. And bushings, dont forget about bushings. And make sure you got everything you need for the S/C setup, fuel system, injectors, tuning, etc ...
Last edited by CrazyHawaiian; 09-06-2005 at 02:40 AM.
#12
Supreme Member
Join Date: Oct 2002
Location: Thornton colorado
Posts: 2,378
Likes: 0
Received 0 Likes
on
0 Posts
Car: 91 Camaro RS
Engine: TBI
Transmission: 700r4
Interesting, your figuring tires are gonna run 550 for 18's? i havent done 18's yet since the tires were gonna run like 250 a pop for what i want....
Personally i wait and save up more than enough money, like right now i am getting ready to bag the rs, gonna run me a little over 2k, but i'm waiting till i have about 1500 extra in the bank just in case the rear end goes or i run into other expenses
Personally i wait and save up more than enough money, like right now i am getting ready to bag the rs, gonna run me a little over 2k, but i'm waiting till i have about 1500 extra in the bank just in case the rear end goes or i run into other expenses
#13
Member
Thread Starter
Join Date: Nov 2003
Location: UT
Posts: 363
Likes: 0
Received 0 Likes
on
0 Posts
Car: 88 Camaro S/C
Engine: 350
Transmission: 700-R4
I estimated $550 for the tires 'cause I have two hookups that work at tire stores. One guy can get me them for $215 but I haven't talked to him in a while.... ps I'm not gonna ask how he's giving me them so cheap...
also for the SC, I think my dad will let me use one of his Holley 950 cfm units, and if not, I'll still need new injectors, but I think we can make it work with stock efi if I have to. I'm also including a hi-flo fuel pump and a couple other knick knacks.
and I was thinking about the bushings and struts, I guess I might as well. What's a good cheap shock/strut/spring combo out there?
also for the SC, I think my dad will let me use one of his Holley 950 cfm units, and if not, I'll still need new injectors, but I think we can make it work with stock efi if I have to. I'm also including a hi-flo fuel pump and a couple other knick knacks.
and I was thinking about the bushings and struts, I guess I might as well. What's a good cheap shock/strut/spring combo out there?
#14
Supreme Member
iTrader: (2)
Join Date: Feb 2005
Location: West Warwick RI, postal code: 02893
Posts: 4,337
Received 55 Likes
on
41 Posts
Car: Building LS3, T56 Z28
Engine: LS3
Transmission: T-56
Axle/Gears: Moser/ 4.11
AGX KYB's for struts/shocks....ebay, new
sportlines or something..........ebay, new
Thats what I did and all done for about 500 bucks to my door. i put it all in myself.
sportlines or something..........ebay, new
Thats what I did and all done for about 500 bucks to my door. i put it all in myself.
#15
Supreme Member
iTrader: (1)
Join Date: Aug 2004
Location: colorado
Posts: 2,122
Likes: 0
Received 0 Likes
on
0 Posts
Car: 1992 Trans/am convertible
Engine: 305 TPI
Transmission: 700r4
Axle/Gears: 2.73 drum WS6
Just do it.
The more you hesitate and the more you think about it, the worse you'll feel. Trust me.
Be done and enjoy. Burn some ****, and show mustangs that birds can fly...... like a freaking JET!
Oh, you should add NOS to your list
The more you hesitate and the more you think about it, the worse you'll feel. Trust me.
Be done and enjoy. Burn some ****, and show mustangs that birds can fly...... like a freaking JET!
Oh, you should add NOS to your list
#16
Senior Member
Join Date: Jun 2003
Location: Acworth/Marietta, GA
Posts: 749
Likes: 0
Received 0 Likes
on
0 Posts
Car: 88 IROC
Engine: 350 TPI
Transmission: Pro 5.0 shifted T56
Axle/Gears: 10 bolt 3.73 posi
Whats wrong with taking out a loan? I am very seriously considering it. I have been banking with Wachovia ever since i started working when i was 14 and they recently told me i could get a $5000 loan. At the time i said hell no because i was afraid of debt but the more i think about it i realize that my old MG motor is getting tired, losing compression, and starting to act like a 48 year old car. A $150 loan payment isnt that much, and I really miss owning an Iroc. Plus me and my friends recently abandoned certain illegal activities that were costing us money (mary jane) so now we have more money to put towards useful stuff. (like heads and cams )
I say go for it.
I say go for it.
#17
Senior Member
Join Date: Jan 2004
Location: Connecticut
Posts: 678
Likes: 0
Received 0 Likes
on
0 Posts
Car: '89 Firebird Formula
Engine: 305 TBI
Transmission: T5
Originally posted by irocbirdbuilder
Interesting, your figuring tires are gonna run 550 for 18's? i havent done 18's yet since the tires were gonna run like 250 a pop for what i want....
Interesting, your figuring tires are gonna run 550 for 18's? i havent done 18's yet since the tires were gonna run like 250 a pop for what i want....
#18
Moderator
All these replies and nobody has given any feedback on the original question. Let the guy do what he wants with his finances, just help him spend his $$.
In regards to the loan, it's a smart choice. You get the opportunity to enjoy the car NOW with all the mods you need without waiting 1-2 years to save the $$. I believe the same is true when buying cars. I'll take out a loan up front and buy the more expensive car that's in better shape. I don't see the benefit of buying a car that needs alot of work and fixing it up over time as the $$ becomes available. "When $$ becomes available" could take longer than the loan terms and can also cost more in the end.
In regards to the loan, it's a smart choice. You get the opportunity to enjoy the car NOW with all the mods you need without waiting 1-2 years to save the $$. I believe the same is true when buying cars. I'll take out a loan up front and buy the more expensive car that's in better shape. I don't see the benefit of buying a car that needs alot of work and fixing it up over time as the $$ becomes available. "When $$ becomes available" could take longer than the loan terms and can also cost more in the end.
#19
Supreme Member
iTrader: (1)
Join Date: Feb 2000
Location: Norfolk, VA. USA
Posts: 7,964
Likes: 0
Received 3 Likes
on
3 Posts
Car: 86 Trans Am, 88 Formula
Engine: 95LT4, 305TPI
Transmission: T56, T5
Just factor in some extra money in the loan for unexpected hangups. don't want to end up paying on your loan and your car isn't dirvable or finished.
And taking out a loan to build up a car isn't a bad thing, just make sure that you have insurance that covers at least 75% of what you put into it so if it does get totalled you are not out all of that money and still paying off a large amount of the loan.
A friend of mine took out a $14K loan to build up his 82 Trans Am. took out enough to get the car done right the first time so he basically has a brand new 82 Trans Am with 400rwhp for $14K.
And taking out a loan to build up a car isn't a bad thing, just make sure that you have insurance that covers at least 75% of what you put into it so if it does get totalled you are not out all of that money and still paying off a large amount of the loan.
A friend of mine took out a $14K loan to build up his 82 Trans Am. took out enough to get the car done right the first time so he basically has a brand new 82 Trans Am with 400rwhp for $14K.
#20
Member
Thread Starter
Join Date: Nov 2003
Location: UT
Posts: 363
Likes: 0
Received 0 Likes
on
0 Posts
Car: 88 Camaro S/C
Engine: 350
Transmission: 700-R4
Well the question whether or not to do it so much as is there anything I'm forgetting? I think I just added struts to my list, and that's it. Sounds good. It'll be a decent daily driver, not a show car by any means, but I think I'll be happy
#21
Supreme Member
iTrader: (2)
Join Date: Feb 2005
Location: West Warwick RI, postal code: 02893
Posts: 4,337
Received 55 Likes
on
41 Posts
Car: Building LS3, T56 Z28
Engine: LS3
Transmission: T-56
Axle/Gears: Moser/ 4.11
Well that is whats most importat.
I get Q's about my car all the time. Weather it is going to be NHRA legal and all that crap, cuz the bars, 5 points, huge tires and all. But truly I really don't care about the running my car at the track. I just want a very fun street car.
i say aim for what you want, and do whatever it takes to get there asap.
I get Q's about my car all the time. Weather it is going to be NHRA legal and all that crap, cuz the bars, 5 points, huge tires and all. But truly I really don't care about the running my car at the track. I just want a very fun street car.
i say aim for what you want, and do whatever it takes to get there asap.
#22
Supreme Member
Join Date: Mar 2001
Location: Portland, OR www.cascadecrew.org
Posts: 6,577
Likes: 0
Received 0 Likes
on
0 Posts
Car: 1990 Camaro RS
Engine: Juiced 5.0 TBI - 300rwhp
Transmission: T5
Axle/Gears: 3.42 Eaton Posi, 10 Bolt
Originally posted by KBeez
Well the question whether or not to do it so much as is there anything I'm forgetting? I think I just added struts to my list, and that's it. Sounds good. It'll be a decent daily driver, not a show car by any means, but I think I'll be happy
Well the question whether or not to do it so much as is there anything I'm forgetting? I think I just added struts to my list, and that's it. Sounds good. It'll be a decent daily driver, not a show car by any means, but I think I'll be happy
now, my $0.02 on the loan. I think it is a bad move. Debt is never a good thing (unless it is a buisness, or home loan). The whole sum of the loan could disapear on you in an instant, if you wreck the car, you will not get this money back, and you will still being making payments. Being upside down on a car is not a smart move. You need to look at this with the assumtion, that something 'might happen', if you lose the car, and have to continue making the payments, what is that going to do to you when you go to purchase a new car?
Thread
Thread Starter
Forum
Replies
Last Post