Buying wheels on credit card isn't a terrible idea. Just know that it's not worth it since in the long run you end up paying for more on a product that will deappreciate drastically and is prone to more than average wear and tear. If you buy rims on a CC, please ensure you have enssurance to cover possible theft.

 

we really need that smiley on the menu list these days with all the kids getting z's.

 

I dont see the big deal that everyone is having, its not like any have you have never bought parts on credit. Granted he will pay way more in the long run if he does it this way but as long as he makes his payments it actually helps his credit.

 

Rent a Dub!

Rent to own are about the only places that will do something like this. Bad idea, get a line of credit somehow...

 

Any gas stations out there finance a fill up. Its about $30.

 

take whatever money you were going to spend monthly for the wheels, put it in an ING account, and when you have enough, buy them outright. Since the Z is financed, its not a good idea to finance the parts that are on it... The ideal thing would be to just pay off the Z early but...

 

im telling, these are the very same people who will finance wheels. then slam the car by getting some really ghetto lower springs. can never afford to get camber kits and get alignment and then complain how they cant afford new tires 6 months later.

 

www.citicards.com

 

Well to tell you the truth I have used http://www.rimfinancing.com/ before for one of my other vehicles. I ended up paying it off way before because the total of the wheels was going to be over 3000 bucks for a 1500 set of wheels. I wouldnt use them again. I also used Les Schwab for wheels and suspension stuff for some of my old cars when I lived in Washington. On my Z I paid cash for my Volks and my cusco zero2s and my cusco front and rear camber set but if and when I do need new tires I can pay for those too.

 

If you need to finance a few thousand...then you DO NOT have the money to buy it.

 

You a correct he doesnt have the money to buy them that's why he wants to finance them. Same thing can be said for a car or house.

 

^Same principle in the lending sense, totally different in terms of means IMHO.

There is a difference between the wheels and financing a car because you may have other important uses (investment/emergency fund/unexpected daily living expenses/etc etc etc) for the huge amount of money that you could spend all at once on the car. Financing allows you to hold on to the large lump sum usually for other means of financial gain or just monetary security in case of emergency. In the case of financing a car: some/most people who don't make 100k plus, it's wise to take the loan rather than spend the money even if you have it as their financial buffer is likely not huge. Ideally unless you have a high inflation/low interest rate situation, you shouldn't finance your car at all if you can help it, conflicting reports exist on what is best for what situation.

This is also very different from a house as it's a decades long purchase. Few people have cash for a house but consider a long term "investment" although studies have shown it's more a neutral asset than a truly positive one when accounting for inflation, taxes, and maintenance. But again, you likely don't have 100k-1mil in liquid assets to plonk down on a house, but if you did, not a bad idea market conditions considered (obviously not this market).

The OP on the other hand like many Americans, is likely (no on knows for sure) financing something he can't afford at all currently in the hopes of making enough to pay it off in the future. This on principle, again as stated above, makes a lot of sense as lending and credit is a lot of how wealth is generated. But this crisis and the actions of many irresponsible lenders to many irresponsible people has led to a huge deficit in peoples ability to ACTUALLY pay crap off. This situation wreaks of that more than a sound need for a loan/financing for something that is an actual investment.

Ie, if you can't afford a 3000-4000 set of wheels because you don't have the financial buffer for other things after you spend the money/don't have the money for the wheels at all...then likely any sort of unexpected expenditure that is bound to happen in life will put you in a situation where you just don't have the money to pay off what you owe. I'm sure a lot of people do this, hence a lot of people being morons when it comes to monetary savvy, ergo the current crisis.
But if you are smart and want something like wheels/mods/low budget expenses that aren't investments, you should have the money to buy it and enough liquidity to cover most reasonable expenses outside of that as well. So no kidding he doesn't have the money, it means he shouldn't buy freaking Volks...

 

^^ Drilling-down your message to a more elemental level…

So… If you are making car payments (you don’t own the car yet), you probably do not want to add more debt by adding a credit card purchase that you don’t pay in 30 days?

I think that’s what you are saying. Certainly that makes a lot of sense.

--Spike

 

Exactly...very well put.

If you are increasing your debt by other means AFTER you take out a loan (debt) for something (especially if it is NOT an investment)...then you shouldn't have taken on that much debt in the first place. Take out less in loan or cut back elsewhere to be able to afford something you want and live within your means.

This sadly is something very few people do, even those who make substantial amounts of money. I have seen people with 350k+ salaries try to finance 1 million in cars because they can...it rarely ends well...

 

Well when I financed my rims for my ride I paid 250 down then the next month I paid the first payment of 130 then the next month I paid the balance off. So I got my wheels two months before I would of had the extra cash for them. It worked out fine for me.

 

Yes you can...rent wheels. May I suggest these...

Obama will hook you up...

 

the op have just disappear .