S2000 Talk Discussions related to the S2000, its ownership and enthusiasm for it.

Financing for Used S2K + mods?

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Old Mar 6, 2008 | 02:51 PM
  #21  
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Originally Posted by MikeyCB,Mar 6 2008, 07:16 PM
You missed the important part though. Drive for 3 years and then, boom, accidental fire. All clear! Obviously I kid.
haha! that reminds me of those toyota commericals where the owners wreck their cars to get a new toyota.
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Old Mar 6, 2008 | 03:04 PM
  #22  
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Originally Posted by silvers2k01,Mar 6 2008, 06:51 PM
haha! that reminds me of those toyota commericals where the owners wreck their cars to get a new toyota.
Those damn ads... I still can't believe that a major corporation is airing ads encouraging insurance fraud.
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Old Mar 7, 2008 | 02:54 PM
  #23  
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Originally Posted by silvers2k01,Mar 6 2008, 04:51 PM
haha! that reminds me of those toyota commericals where the owners wreck their cars to get a new toyota.
Kind of like the Home Depot commercials where the woman tears apart her kitchen so she has to get a new one...only without the insurance fraud.
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Old Mar 8, 2008 | 07:29 AM
  #24  
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Originally Posted by S2K-DJ,Mar 6 2008, 07:21 AM
Hell, my friend traded in his Elantra for a new Eclipse, and he had about $5000 added to the price of the car on the loan, so the bank was already $8000 in the hole because the car lost $3000 the moment it was purchased, like pretty much every car does. After one year, he couldn't afford the payments, the car got re-poed, and after they re-sold the car, they went after him for the $10000 still left on the loan. He didn't even have very good credit either when he initially bought the car. Of course now he has no credit. HEHE

This can 100% without a doubt be done!!!
And what did we learned from this post? Also, why would you want to be in 8k debt just for mods? If your business is doing so well just wait out a month or two and u can start building.
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Old Mar 8, 2008 | 08:01 AM
  #25  
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If you want to get a large chunk of $ right away for mods, the ONLY way to do it is to finance more of the car and put less down. When I financed I figured out the max payments I'd be comfortable making and how much of a loan that was, and when I sold my old car I put enough down to cover the rest of the car cost, and kept a large chunk for mods and to assist in making payments for the first year.

That's the ONLY way you can do it without screwing yourself over. As it is now I've been able to easily make my payments and buy things for the car, I graduate in May and my larger income should easily cover payments then.
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