modifications supported by credit cards??
Oct 23, 2006, 08:59 PM
#18
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i paid cash for all my mods except for FMIC but it's almost paid off so i'm ready to save some spare money and buy next mod. I'm always putting like $150 a week on a seperate checking account that i'm using only for mods
Oct 23, 2006, 09:25 PM
#20
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Tax returns = mod money from the government IF you're not in debt. Otherwise get rid of your debt first.
I paid for every single part on my credit card because I purchase products on the internet. Of course I transfer the amount that I charged to my credit card from my checking to savings account so I don't touch that amount. When I get my statement, I transfer the statement balance from my savings to checking and write out a check for the full amount. It's self control that'll keep you from losing everything you have when the debt finally catches up.
I paid for every single part on my credit card because I purchase products on the internet. Of course I transfer the amount that I charged to my credit card from my checking to savings account so I don't touch that amount. When I get my statement, I transfer the statement balance from my savings to checking and write out a check for the full amount. It's self control that'll keep you from losing everything you have when the debt finally catches up.
Oct 23, 2006, 09:29 PM
#21
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Originally Posted by WhiteEvo05
I would hazard to guess that the vast majority of owners have "financed" their mods, whether they admit it or not. There is a certain public stigma associated with this, but secretly many owner's sense of instant gratification and "keeping up with the Jones" wins out. Remember, it's your ride. If you're modding to be accepted or thought of as cool, then you need to find a cheaper "ego booster" unless you are pulling in some major dough and have a large expendable income.
I myself have "financed" some mods...however, my approach is a bit different...the only times I have, have been when there is a true sale on something that I have been wanting, but the fun fund isn't big enough to absorb. The trick here is to have enough self-discipline to pay that off before moving on to the next gotta have mod.
Self control is a difficult thing to excercise. Just don't fool yourself in to thinking that if you outwardly put on the show of being able to afford this stuff, but privately you are in debt up your eyeballs, everything will be fine. That is the real danger.
I will now get off the soapbox and turn in my collar.
I myself have "financed" some mods...however, my approach is a bit different...the only times I have, have been when there is a true sale on something that I have been wanting, but the fun fund isn't big enough to absorb. The trick here is to have enough self-discipline to pay that off before moving on to the next gotta have mod.
Self control is a difficult thing to excercise. Just don't fool yourself in to thinking that if you outwardly put on the show of being able to afford this stuff, but privately you are in debt up your eyeballs, everything will be fine. That is the real danger.
I will now get off the soapbox and turn in my collar.
I agree with u 100 %
Last edited by 19psi; Oct 23, 2006 at 10:27 PM.
Oct 23, 2006, 10:35 PM
#25
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Credit Cards are awesome, IF you have money. I don't have a car to mod, but I recently bought an HDTV for 1,700, and with a decent credit card, you will get a minimal reward WITH no payments on the credit card themselves. Just keep the bills under control, and the credit card is a very valueable asset.
If you are having to pay the credit card for more than the original payment, wait until you get the money. It isn't worth paying extra, espesically with CC companies high interest rates on loans.
If you are having to pay the credit card for more than the original payment, wait until you get the money. It isn't worth paying extra, espesically with CC companies high interest rates on loans.
Oct 23, 2006, 10:47 PM
#26
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i have a credit card but i got it for unexpected school expenses only. my career path is more important to me right now then racking up debt for something that loses value like a rock.
Oct 23, 2006, 11:08 PM
#28
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I got my old engine swap with my 240 through a loan from my bank. The only reason i did that was cause my stock engine and tranny was going out and i had a good paying job and could afford the payments and pay my other bills off and still have plenty of money left over. Thats the only way i support using credit/loans. Make sure your priorties are straight and take care of the important stuff first.
Oct 23, 2006, 11:09 PM
#29
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i feel the best way is to buy everything with credit cards and then pay the card off at the end of the month in full, this way you a) gain a good credit history, b) dont pay any finance charges, and c) if you have a credit card with cash back (like american express) you get free money back for the stuff that you buy. Its a win win win situation. In one year i got nearly 400 dollars for free all by buying on my american express and paying it off immediatley.
Last edited by Vishnu_Evo8; Oct 23, 2006 at 11:12 PM.
Oct 23, 2006, 11:22 PM
#30
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Originally Posted by Vishnu_Evo8
i feel the best way is to buy everything with credit cards and then pay the card off at the end of the month in full, this way you a) gain a good credit history, b) dont pay any finance charges, and c) if you have a credit card with cash back (like american express) you get free money back for the stuff that you buy. Its a win win win situation. In one year i got nearly 400 dollars for free all by buying on my american express and paying it off immediatley.