classic car Finance ??
Racer
Joined: Sep 2024
Posts: 261
Likes: 26
Now you're trying to talk common sense!! LOL
My experience with people who finance a lot of their things is their thinking is generally a "have it now" mindset, less on long-term costs. And truth be told...either path is fine ...or not good for others. Some people dream about having a corvette forever and come 50 yrs old they still didn't have their corvette and are no longer (in many cases) in the financial or health condition to do so. Maybe they should have financed when they had a chance?? Whereas the financing guy might be on his 3rd or 5th Corvette.
My only caution or advice for the OP is to make sure you have: 1) Really good insurance, and 2) Some rainy-day money on the side b/c with a classic car like that, a lot of things can go wrong which can turn costly real quick. If you have yourself covered that way, you'll be less likely to get into a pickle if the engine dies or someone in an F350 backs into it at a parking lot, or girl texting on her phone T-bone's ya.... or engine blows, etc. I've known a couple guys who had everything financed and didn't have a pot to pi$$ in. One co-worker, he'd ask if he could borrow money from me on occasions (aww jeez, wife's got a kid on the way, I'd have to tell him). When something would happen he struggled to afford even minor repairs. Then he got into not paying shops after they did repairs, even after considering options like affirm reviews for easier payments. Obviously that would be worst-case ...and a place to not get into. Not saying the OP is like that. And honestly I don't really judge anymore how people live their lives ..as long as it's not hurting me or people I know.
OTOH, everything my co-worker had was nicer than mine
. But....then when the great recession came, he had to liquidate his toys and I was buying toys for pennies on the dollar (not his). Either way, things work out in the end. And if they haven't worked out it probably isn't "the end". And if it is "the end" does it matter at that point anyway?
.
My experience with people who finance a lot of their things is their thinking is generally a "have it now" mindset, less on long-term costs. And truth be told...either path is fine ...or not good for others. Some people dream about having a corvette forever and come 50 yrs old they still didn't have their corvette and are no longer (in many cases) in the financial or health condition to do so. Maybe they should have financed when they had a chance?? Whereas the financing guy might be on his 3rd or 5th Corvette.
My only caution or advice for the OP is to make sure you have: 1) Really good insurance, and 2) Some rainy-day money on the side b/c with a classic car like that, a lot of things can go wrong which can turn costly real quick. If you have yourself covered that way, you'll be less likely to get into a pickle if the engine dies or someone in an F350 backs into it at a parking lot, or girl texting on her phone T-bone's ya.... or engine blows, etc. I've known a couple guys who had everything financed and didn't have a pot to pi$$ in. One co-worker, he'd ask if he could borrow money from me on occasions (aww jeez, wife's got a kid on the way, I'd have to tell him). When something would happen he struggled to afford even minor repairs. Then he got into not paying shops after they did repairs, even after considering options like affirm reviews for easier payments. Obviously that would be worst-case ...and a place to not get into. Not saying the OP is like that. And honestly I don't really judge anymore how people live their lives ..as long as it's not hurting me or people I know.
OTOH, everything my co-worker had was nicer than mine
. But....then when the great recession came, he had to liquidate his toys and I was buying toys for pennies on the dollar (not his). Either way, things work out in the end. And if they haven't worked out it probably isn't "the end". And if it is "the end" does it matter at that point anyway?.
