Questions about financing a c5..
Le Mans Master
Joined: Sep 2013
Posts: 8,900
Likes: 1,074
From: Wisconsin
I agree the purchase is only part of it, I would think with two years planning op would know if he can afford it or not. He has a car payment now he knows his budget. I dont agree with the guy that says its an obsession, thinking two years out is smart, who knows he may change his mind by then. I think his car payment could be lower depending on values and loan terms in two years.
Your advice is sound as others here. Not knocking you for it.
Your advice is sound as others here. Not knocking you for it.
I comfortably retired at 57 and never felt I missed out on anything. I bought all the toys I wanted, but I only paid cash. One just has to be patient.
It is his business, but some of here are trying to give him advice based on our experiences. He does not have to take it, but it is something for him to think about. He may wish to buy a home in 2 years.
Last edited by JR-01; Dec 14, 2015 at 01:35 PM.
Melting Slicks
Joined: Jan 2014
Posts: 2,764
Likes: 375
From: Central Florida
I just believe if he is planning on buying a Corvette in 2 years he should be saving up the money instead of figuring out where he can borrow it today. People that borrow money for everything they want never seem to get ahead. Thirty years later, many people I grew up with, including my own blood, have nothing to show for it. They had the same mentality. If you want something and someone will give you the money, buy it. Closing in on retirement age they are pretty well screwed. They even ask to borrow money from me. They should have listened to me before they got in the mess.
I comfortably retired at 57 and never felt I missed out on anything. I bought all the toys I wanted, but I only paid cash. One just has to be patient.
It is his business, but some of here are trying to give him advice based on our experiences. He does not have to take it, but it is something for him to think about. He may wish to buy a home in 2 years.
I comfortably retired at 57 and never felt I missed out on anything. I bought all the toys I wanted, but I only paid cash. One just has to be patient.
It is his business, but some of here are trying to give him advice based on our experiences. He does not have to take it, but it is something for him to think about. He may wish to buy a home in 2 years.
You are giving very good advice!
Last edited by Forcedvert; Dec 14, 2015 at 03:10 PM.
Advanced
Joined: Sep 2018
Posts: 68
Likes: 18
From: Florida
Having had a Mortgage Broker's License here in the State Of Florida I use to council many folks that came to me with bad credit. Not that your credit is that bad but the key to good credit is a score of at least 720. If your target is 2 years that is also a key to fixing credit. I as the Lenders will agree a corrected pattern in credit is 2 TWO YEARS. In other words do everything right for two years keep your loans down and your credit score will improve to 720, providing you pay off credit card debt as agreed , get rid of debt and do not have anymore issues.
Team Owner
Joined: Jul 2012
Posts: 34,479
Likes: 532
From: Central PA. - - My AR15 identifies as a muzzleloader
I believe in the Beer Fairy
Having had a Mortgage Broker's License here in the State Of Florida I use to council many folks that came to me with bad credit. Not that your credit is that bad but the key to good credit is a score of at least 720. If your target is 2 years that is also a key to fixing credit. I as the Lenders will agree a corrected pattern in credit is 2 TWO YEARS. In other words do everything right for two years keep your loans down and your credit score will improve to 720, providing you pay off credit card debt as agreed , get rid of debt and do not have anymore issues.
Pro
Joined: Jul 2018
Posts: 611
Likes: 415
From: Sarasota, Florida
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