Financing Strategies Wanted

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Jul 10, 2006 | 12:24 AM

#41

az57chevy

Pro

Joined: May 2005

Posts: 592

Likes: 17

From: Tempe AZ

Quote:

Originally Posted by rcingram

1. If you have a 401k, borrow on it if you must. You're paying yourself the finance charges. The rates are low.

2. Cash

3. Have wife or significant other get a 2nd job.

4. Sell the baby

I would never borrow on a 401K. If you ever lose that job (even with nothing you did) the entire note becomes due right away or the IRS penalizes you

Jul 10, 2006 | 12:51 AM

#42

Varmit

Team Owner

Joined: Jan 2006

Posts: 20,800

Likes: 59

From: Tellico Village, Tn

St. Jude Donor '08

Quote:

Originally Posted by johnnyvettes

buy it if you can afford the note . wait for what you could be dead in 3 years . I lost my wife she was 46 just starting to live again the kids in there early 20s .she went to bed and didn't wake up never sick no signs of heart problems . live for today we do not know what tomorrow will bring

No guarntees in life, do what you can for tomorrow is unasure. Just don't plan on doing any mods until it's paid off

Jul 10, 2006 | 12:59 AM

#43

Prosecutor

Le Mans Master

Joined: Feb 2005

Posts: 6,038

Likes: 3

From: Charlotte North Carolina

Quote:

Originally Posted by ktrixx

Well I don't think you will ever afford a Zo6 with the knowledge you have on purchasing let alone be able to drive one. What you need is something more like a 97 or 98 coupe A4 , and learn a little more respect for the other models. Then you might get a Z. Just HMO

Is this post as obnoxious as it reads to me....or am I crazy?

Jul 10, 2006 | 06:04 AM

#44

JCFILM

Burning Brakes

Joined: Feb 2005

Posts: 838

Likes: 0

From: Illinois/Ca

Quote:

Originally Posted by EnglandGreen

Save up - buy it for cash. Best way.

Or buy a high mileage coupe - circa $15-17k

Jul 10, 2006 | 02:28 PM

#45

jangelo

Racer

Joined: Mar 2006

Posts: 253

Likes: 0

From: Penna.

Quote:

Originally Posted by simulacra

How are you guys financing your cars?

I'm looking for about a 30K loan for a used Z06
What can I expect with mediocre credit rating?

Specifics are welcome. Thanks in advance.

Some of the post are interesting. I do not know your complete financial picture. However based on your post, you will most likely pay a high interet rate with mediocre credit. What do you mean by mediocre credit? What caused this? These questions come into the analysis. There are companies that specialize in this financing, however it is expensive. Do you have any down money? You need to sit and go over your total financial picture and cash flow to see what you can afford then go for it. There are plenty of vettes out there in the right price range for those who want one. Just have to look for them. Just my $.02. Good luck>

Jul 10, 2006 | 03:38 PM

#46

07blackcoupe

Burning Brakes

Joined: Dec 2004

Posts: 1,067

Likes: 3

From: Lost in the Pine Barrens with only ketchup and relish packs, New Jersey

A lot of good financial advice here but one thing is lacking- remember the first post! The thread starter indicated that he had "a fever". Considering that info, forget about waiting, forget about getting something cheaper that is not exactly what you want and don't worry about paying more to finance. The only way to cure your fever is to take your time, spend all your effort finding the exact car that you want and jump on it! Otherwise, that fever will not go away and you may just get worse!

Now stop wasting your time in C5 General and move over to C5's For SALE!!!

Jul 10, 2006 | 10:10 PM

#47

simulacra

Thread Starter

Advanced

Joined: Jun 2006

Posts: 50

Likes: 0

From: Brooklyn NY

LOL on the money mag

Thanks to all.

Now, whos got a low mile, dirt cheap Z for sale

Jul 11, 2006 | 12:34 AM

#48

troy144

Safety Car

Joined: Oct 2005

Posts: 4,000

Likes: 1

From: henderson nevada

Quote:

Originally Posted by slverc5

Well he asked on how and I don't think he ask about how it's going to affect his relationship.

anyways, there are a lot of options as far as acquiring some money on buying a car,
1. Straight auto loans ( banks, credit unions, etc)
2. Paying cash
3. Home equity loans
4. Borowing from your RETIREMENT ( I don't really like this but I've known some people who did this).
5. Or just plain stealing it

I agree with you. A car is just a car-but.........tell that to all drivers and car owners who bought their cars in different means and different ways.

I know I sounded so "old" in my response

... I saw the success of my parents when I was young and now it is so hard to "let go." They just said go finish school in a profession that pays well (in my case pharmacy) and let the rest (cars etc.) take care of themselves. To original poster SIMULACRA if you need it now- I think second job, credit union and or significant other's help. Really and sincerely I wish you good luck. If you find something let us at CF know. I am always interested in what people decide when they creatively problem solve.