I'm sure there are TONS of people on these forums that have used their CC's for major mods, but they just won't admit it. I sometimes see REALLY nice cars in raggy apartments, and I like to assume that they have a lot of debt. But that's just guessing.

 

Alot of people do... not just Z owners... Of course nobody not going to admit to it they will get flame out there right mine

 

Performance Motorsports offers financing through a 3rd party lender... I'm assuming it will be similar to current credit card rates which are on the rise. I agree if you can't swing it cash or mostly cash, it's obvioulsy something you can't afford. You are better off waiting....

 

Being senseable about EVERYTHING in life is boring!! Enjoy the one and only life youre gonna get. If you finance FI and cant pay it back, so what. A few thousand dollars worth of debt isnt going to be the end of the world. Being able to live beyond your means is what makes this a great country.



......Now that i think about im going to keep my wheels i posted in the classifieds

 

I had about $10k combined on two of my cc's from buying all my parts (turbo kit, coilovers, exhaust, etc). However, the big difference for me is that I had the money to pay it off at anytime. With 0% apr, I had no incentive to pay it all up front so I just made payments. I've got 5 more months of 0% and 3k left on one card. Next month I will pay that off with some of my 05 bonus money.

 

I'm glad someone spoke up because I really saw this thread turning into the "who wants to brag they had thousands of dollars of liquidity to drop on a turbo setup" thread.

 

I am glad that there are people out there that still know how to manage there money. The key phrase at the start of this thread was "I have the money now to do either but damn thats a lot of money to drop at one time and still have to buy rims" I said the same thing as Nismo350ZRT on thread #15 if you follow the steps that Nismo did you have money in the bank, you are building credit, you have your job still paying you while your making payments at 0%, and you have the parts that you want, if you do it right its a win, win situation,

 

I got thousands, but im the first to poormouth, and the first to take advantage of double cc points.Do what you want and dont listen to the BS

 

The best way to pay for it is have your insurance company pay for it, thats the way I went. The only downfall is you have to wreck something first and get money out of it.

 

Yes, if you have the money (already) and get 0% interest then fine. But:

A) The actual end price is ALWAYS much higher than it first looks on paper
B)Pay it off before the penalties hit
C) Plan for the FACT you may have to replace your engine
D) Never finance such a ridiculous thing if you can't pay it off at the end of the month.

 

I agree with most of the others say using a CC for it is ok...but make sure you have the means and ease of paying it off. Basically, if you know you can afford it, but just want to speed up the the process/timing of getting it, then yeah its fine..but if you are already stretched with making payments and other bills, I wouldnt suggest it.

 

Speaking of insurance (and not to get too far off topic), how many of you guys with ST or TT's in this thread have your turbo setup insured??? I know I do....at this point, every mod on my car is insured (parts only). Sorry for getting off topic.

 

This is the reason my rates are so high , but by reading all the feedback I'm just not ready to dump all the money because really I wasn't even thinking about if the motor went out or not, I could pay with cash I def would not do a CC, but I was just wondering if shops did this or not thats all, so looks like I will just continue saving buy a few bolt ons and some exterior and I will be ok, thanks

 

I agree and would say to finance only if you have the money but don't want to spend it all up front. The rates that are out there are just too high if you actually finance a turbo kit, but it is available. I'd just put it on a card or pay in full up front because as someone said earlier if you don't have the money to pay for a turbo AND have some rainy day/blown motor money afterwards you should probably wait.

 

I agree with the last couple of post, the only way that this equation will work is if you have the money if not I don't recommend using your cc for performance parts. Your just putting your self in the trick bag, because those company's always get you at the end of the 0% period if you don't pay the balance off. BTW great topic and good question for you guys that are just getting into the sport.

 

AMEN....best post so far

 

I don't see any rason not to really, however i would look at it this way. Buy your kit, and be ready to finance the motor that may need to be built.

 

a bank or finance company would do it but i would only finance half if anything. you'll feel alot better only having to pay half back ranther than all of it especially if you want to get rid of your car.

 

If you got the money, then pay for it all cash at once. If not, then save up, and then buy it all at once. I financed my procharger kit cause i couldnt wait to get the damn thing boosted. At the time i felt it was an OK idea, after a couple months, they started to tack on interest and some security plan fee, and that will definitely hurt you. If you are sure you can pay off that turbo kit within 3 months or so, then it would not do much harm if you financed it, but if your only gonna fork up 200-300/month, then dont even bother getting the kit until you have a load of cash saved up.

 

IMO...if you have a low interest credit card...use it...why not. Have fun and enjoy the car/life.

****, you can save all the freaking pennies in the world and die tomorrow.

If the credit cards you have have high interest rates...I would suggest getting a personal loan. While you’re at it, consolidate all the credit debits into the loan. Make one simple payment rather than juggling 3 to 4 different payments.