how should i go about doing what i want to it?

65fastback2+2

New Member

Aug 4, 2003

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Louisville, KY

Nov 2, 2004

#1

• Nov 2, 2004

• #1

Should I just take out a $4000-$4500 loan and just do it up, or should I save and save and save and get one thing at a time slowly.

Heres what Im wanting to do...

My new front end (needed) - $1500
Disc Brakes - $350
Wheels - $500
Tires - $500
Stereo - $700
AOD - $1000

*runs and hides from ron*

 

jst6

Founding Member

Jan 9, 2002

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Tucson, AZ

Nov 2, 2004

#2

• Nov 2, 2004

• #2

the kid in me says, "Get the loan! and go get your toys!!!"

but the responsible person in me slaps the kid and and says, "Don't go in the hole for you toy. Own it outright."

for me the responsible person is stronger than the kid. for others the kid is strongest. it just depends on how patient you are and how long you are willing to wait

 

65fastback2+2

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Aug 4, 2003

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Louisville, KY

Nov 2, 2004

#3

• Nov 2, 2004

• #3

jst6 said:

the kid in me says, "Get the loan! and go get your toys!!!"

but the responsible person in me slaps the kid and and says, "Don't go in the hole for you toy. Own it outright."

for me the responsible person is stronger than the kid. for others the kid is strongest. it just depends on how patient you are and how long you are willing to wait

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well, the tough thing for me is, i make $500 a month now, me and my bro are fixing to sell a car we own together, i'll get $1000 outta that, plus I work at Best Buy full-time over the summer. So a $4500 loan Id have paid off in 7-8 months easy.

 

DukeGnarley

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Apr 2, 2003

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Auburn/Ellensburg, Wa

Nov 2, 2004

#4

• Nov 2, 2004

• #4

then just wait the 7-8 months to get it all completed. that's not too long to wait.

 

S

steel1212

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Jun 24, 2004

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Frankfort, Ky

Nov 2, 2004

#5

• Nov 2, 2004

• #5

I second that. If you could pay off a loan in 7-8 months buy what you can afford one step at a time. There is no reason to pay 8-13% on a loan when you could have done it all in 8 months.

 

corbetts_auto

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Nov 1, 2004

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Nov 2, 2004

#6

• Nov 2, 2004

• #6

I suggest you save up then do it all at one time. More or less. Most of the work seems to be front end related. Doing it all at one time will save time, which in most cases saves money.

just my $0.02

 

DukeGnarley

Member

Apr 2, 2003

597

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Auburn/Ellensburg, Wa

Nov 2, 2004

#7

• Nov 2, 2004

• #7

corbetts_auto said:

I suggest you save up then do it all at one time. More or less. Most of the work seems to be front end related. Doing it all at one time will save time, which in most cases saves money.

just my $0.02

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I disagree, i would do it in "phases". even though it's more work to do it this way, you also can get disc brakes 7-8 months sooner

 

Jester67

Member

Sep 21, 2004

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TN

Nov 2, 2004

#8

• Nov 2, 2004

• #8

1.Disc Brakes !!!!! This will help to keep the rest of your sheet metal straight
2.Tires, wheels again this will help to keep you out of trouble
3.Then it depends on the transmission you have now if it works get the metal straight
4.AOD
5.Stereo
My personal creed is make it stop, turn, go, only then comfort. This is the plan for me. Just my 2 cents.

 

corbetts_auto

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Nov 1, 2004

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Nov 2, 2004

#9

• Nov 2, 2004

• #9

DukeGnarley said:

I disagree, i would do it in "phases". even though it's more work to do it this way, you also can get disc brakes 7-8 months sooner

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Sooner is great....but sooner and budget don’t mix well. In this case piece by piece should not add to the cost, and is not a bad idea, but 7-8 months in the grand scheme of things is not that long.

Rims, tires, and brakes just make sense to do all at one time.

 

65fastback2+2

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Aug 4, 2003

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Louisville, KY

Nov 2, 2004

#10

• Nov 2, 2004

• #10

problem is, is me saving the money, its easier for me to pay on something, because i know its a responsibility, than to save it....

 

R

Ronstang

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Apr 4, 2004

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Houston Texas

Nov 2, 2004

#11

• Nov 2, 2004

• #11

If you need a loan for school that is one thing but to take one out to satisfy your impatience then that is simply foolish. Save up the money and do it in phases and learn some patience and fiscal responsibility. I am helping you all I can and if you find those AODs in the junkyard and brind me one I can rebuild it for cheap and you can have an AOD for a lot less than $1K.

I'm gonna kick your..........

 

Rent-A-Racer

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Jan 5, 2004

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Nov 3, 2004

#12

• Nov 3, 2004

• #12

Hey Ron, move to KY and I'll let you help me on my project!!

 

oboebrian

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Aug 8, 2002

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In the Gutter Gaurding the Closet Door against She

Nov 4, 2004

#13

• Nov 4, 2004

• #13

It depends, have you had a credit card before? Have you ever had a loan or paid one back (at a financial institution)? If you haven't then it may be hard to get a loan. But on the other hand it'll start and build your credit history. I'm glad I took out a 5k loan about 6 years back (and took 2 years to pay it back). It really helped to establish some hard credit history.

 

L

Luminox

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Jun 18, 2004

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Anne Arundel County, MD

Nov 4, 2004

#14

• Nov 4, 2004

• #14

Here's what I did to save money to buy my 66. Worked as much as I could, set a dollar amount I needed to pay bills and everything over that I transfered into another account and forgot about it. I'm not the most responsible person with money either but the out of sight out of mind stuff worked . I was ready to buy my 66 and was suprised to have 8k in the bank to buy something nice.

Don't take the loan out...save. In my case I bought a ton of things up front and it took just as long to get them on the car as it would if I would have waited and bought one thing at a time... Once again I have a entire car in my basement waiting to be finished .

 

65fastback2+2

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Aug 4, 2003

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Louisville, KY

Nov 4, 2004

#15

• Nov 4, 2004

• #15

oboebrian said:

It depends, have you had a credit card before? Have you ever had a loan or paid one back (at a financial institution)? If you haven't then it may be hard to get a loan. But on the other hand it'll start and build your credit history. I'm glad I took out a 5k loan about 6 years back (and took 2 years to pay it back). It really helped to establish some hard credit history.

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Ive had a 11k loan before I paid back in a year.

 

L

Luminox

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Jun 18, 2004

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Anne Arundel County, MD

Nov 4, 2004

#16

• Nov 4, 2004

• #16

I assume when you say you make 500 dollars a month that you meant week because even with the "New Age" math that's not adding up .

 

65fastback2+2

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Louisville, KY

Nov 4, 2004

#17

• Nov 4, 2004

• #17

Luminox said:

I assume when you say you make 500 dollars a month that you meant week because even with the "New Age" math that's not adding up .

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no month, i had that other loan before college haha, back when i had tons of money to do anything i wanted. and that was on a different car i dont have now