I was just wondering how everyone pays for their turbo kits. I'm guessing most people pay cash but I'm the kind of person that wants what I want and I want it now. I can't be alone can I?

 

which turbo setup are you interested in most? just curious

 

i know zpi goes through some financing company.....i think if you finance a stage 0 and and other parts running you like 3600, your monthly will be like 150-160 bucks.....thats easily affordable if you have a job....but then again, this is the cost if you install and maintain yourself.....i payed like 50%, and financed the rest, to build my credit score, haha.....

 

building the credit score is definitely a good idea, never thought about it like that, hmmm.

 

Yah its not bad to build your credit score with something like this. Although its not too smart if you're using a 3k+ purchase and paying a high interest rate for quite a few months.

I paid with a credit card and then paid it off when the statement came in the mail.

 

saved my $$$$ for a couple of months

 

saved my money.

 

Cash, I sold a car and saved some money for a few weeks.

 

That's just not a very smart idea to finance a turbo kit...

 

Why do you say that? Others may not have cash readily available to purchase something they really want. kinda like the majority or people who FINANCE anything in life.

One may also want to build a little credit by paying on a monthly loan. Everyone has there reasons.

If your going to try and make a point, try to elaborate a little on WHY you think it isnt a smart idea.

 

financing mods is the same as financing a car. most ppl finance cars cuz they want a car really bad but don't have cash to pay for it in full. same thing goes for mods. i say if u want it bad enuff and can pay the monthly for it do it. in the end its ur debt and noone elses so those ppl might as well stfu.

 

I sold my Hayabusa!

 

well think about it this way....if you don't have a steady good paying job, its pretty hard to afford something without having to live paycheck to paycheck.....i had the money, but only paid half, and financed the rest cause my dad always emphasizes building credit....its just like financing a house with a mortgage...i don't think most people have the hundreds of thousands for a house, so by taking a loan, you finance a house....same concept, just on a much lower scale....i say, if you can afford the monthlys, then go for it....just remember that there could be maintenance cost that comes from your own pocket, and that financing a turbo is a commitment for a few years, so make sure you're looking towards your future as well

 

People finance things like a house and a car, as others have said, becuase it's a necessity not just becuase they want it bad enough. If you can't afford something you want and you resort to a high interest rate credit card then your buying outside of you means. Building credit is just an excuse to make you feel like "it's okay to pay off $5k for the $3k I financed" You build credit by financing small purchses that leave you with a good debt/income ratio then making payment on it.

If you finaced "anything in life " you wantd then you can't afford it and your trashing your credit not building it. Good credit isn't just paying your bills it's the ratio of debt verus credit avaiable and income.

You finance a car becuase it's something you must have... a mod isn't. Yes, your making a payment but it's no where near the same thing.

 

that credit score idea is a good way to get the rents to lean towards getting a turbo hmmmmmmmmmmmm

 

Your kidding right?

Your telling me that your credit score will be trashed if i finance something, but pay it off too? thats the most rediculous thing i have ever heard of. If anything, yor BUILDING good equity when you take out a fairly good size loan. do you honestly think credit card companys are going to help your credit out if you pay off small purchases before the first 30 days. yeah, cuz there really making a whole lot of money off of you.

You can do whatever you wish when it comes to paying for something. Im not objecting that. I infact dont like to buy things unless i have the cash for it. Thats why i just saved over $ 7,000 in the last couple of months to turbo my tC. But others may want to pay it off over time.

and yes, people have wants and necessities. its what makes them happy. Why do you think MasterCard / Amex / Visa / Discover are all in business

 

No, i'm not kidding..It's not the size of the purchase that matters, CC companies don't raise a credit score becuse you made them money..

If you had a $5k limit and you had a $4900 balance and still make the payments on time...your score is going to drop. It's a ratio of debt vs. credit available.

 

If you make payments on time for your credit card it helps your credit score. I had a credit score of 722 by the time I was 19 just by buying gas on my CC and paying the bill in full every month. Same thing goes with a loan. Make the payments on time and you're fine. The problem is when you get a loan for something that's a non-essential like a turbo, you get screwed by the interest. Instead on 4.5% like on a car loan you get atleast 10%. But people like me have trouble saving money but no problem making my car payments on time. My philosophy is why not pay for the turbo while I'm paying for the car since I should have the turbo as long as I have the car. I just wish I thought of it when I got the car loan so it would be consolidated and have a lower interest rate.

 

i think this might help

http://money.howstuffworks.com/credit-score3.htm

 

I don't know about you guys, but I got a CC with 15 months no interest on purchases. So its like getting the kit for free, well, kinda. lol