What to do now about money

[phoenix6]

My credits wacked out, I need a cosign to get a loan for $1500. My MOM WILL, but she works today and this is my ONLY FUCKING DAY OFF. I work all week and when I get off banks are closed, including saturdays! What the fuck! She works til 4 today and no banks here are open after 4. I need major help this is to fix the supra. This fucking sucks my whole day and plans are shot to fucking hell. I hate credit.

 

[Ckanderson]

getting a loan to fix a 20 year old car is stupid. buy another car.

 

[phoenix6]

$1500 loan for $1500 Ill have in 3 weeks to pay back, I just need it fixed now. I dont want to end up in another monthly car payment and all that. I hated it, I finally dont have to any more. If I have to shell out $1500 to fix what I have, then fine.

I looked at some places for a cheap car, I need a co signer with my credit and $100 for something down, my mom wont and shes the only option.

 

[supradan22]

damn so you need 1500 to rebuild the N/A?

 

[Ckanderson]

dude. your car is 20 years old. BUY another car. taking out a loan to fix a car is a very bad idea... what happens when it breaks again before you pay off the loan? get another loan?


sell the car... buy a reliable 2000-2003 car or lease a new car for like 200 a month.. if you mom has good credit

 

[phoenix6]

Her credit is awesome, mines the opposite. I was a dumb teen. I need $1500 as a safety net, I only need about $800. Loan is paid back in 3 to 4 weeks tops. I need to get an engine and a hoist, some hoses and then pop it in. I found a 94 Celica for $4k down the road, gonna check them out they have second chance financing and stuff. If my mom agrees and I HAVE to, I will drop $450 down. Thats all I cna do right now. The car looks clean and Im gonna check into it. I really dont want any more payments but I fear I have no choice, I need to get to work.

edit sorry, $3499. not $4k

 

[phoenix6]

damn so you need 1500 to rebuild the N/A?

And yes, to REBUILD my current N/A to make it almost bulletproof I need about that. I spun a rod.

 

[ValgeKotkas]

If you want to drive what you really like( I assume supe is that) then I guess go for it...

 

[phoenix6]

right now I just want a car thats somewhat decent, import, and prefer a manual. I found some civics, celicas, Im looking aruond.

 

[trucker]

i'mnot gomma preach here, but getting any loan for any car is a bad idea

here's the math

average car payment is 364 and some change over a 64 month period.

that average car payment invested over an average working lifetime,in a decent mutualfund, from20 to 62, works out to $4.4 MILLION dollars

thats how much that car is costing you,hope you like it

as far as taking a loan to fix a car? that dude is right, it's a dumb idea

credit cards? even worse,pay everything with cash,the dirty little secretis,you don't need credit for ANYTHING but getting into debt

 

[phoenix6]

I give up, this city is full of shit.

So what do I do? I HAVE to get to work, the bus wont go there, I need at least 3 weeks before I have the money to fix my car. What do I do

 

[trucker]

buy a bicycle...that what i did in your situation.

it wont get you laid...but getting your car fixed is the goal here,isn'tit?

 

[supradan22]

Or buy a 400 dollar CRX and pray nothing goes wrong but im in the same situation supras down but im the reason its down its being built I just carpool and chip in for gas.

 

[phoenix6]

ok, Im convinced, I called the auto place, no 7ms, tons of 1JZ clips. Im getting a 1JZ, wheres that page on the swap info? This is going down soon.

 

[Jeff Lange]

When I'm in these situations... I borrow money from Daddy.

 

[phoenix6]

When I'm in these situations... I borrow money from Daddy.

Daddys a broke ass bitch in England running from the IRS for me, I have a rich grandma and aunt, millionaires, wont let me see a dime. I have to learn the hard way according to them.

 

[Facime]

If you like the car, and you want to keep it. Throwing money at it isnt all that bad. These people discouraging you to do it obviously have enough money to buy a new car so their opinion is tainted.

Look at it this way, you know the car now. If you put $1500 into making her tip-top then at least you know the mechanical condition of her. If you drop $1000-1500 on some beater just to drive, there is every chance it will require lots of repairs as well. You just cant be sure.

Secondly, money spent on an old car like the Supra is what I call "entertainment money" if you enjoy the car, and you like to work on it, any money you spend is really no different than say...going to a movie or a concert, or buying a CD. So long as you keep the spending within reason over the course of a year...its all good.

Finally a few notes on vehicle ownership. Buying a new or new/used car and making payments or leasing as one person suggested is a big expence. Even with really good credit and some money down lets say your payment is only $200/mo. Add to this the cost of Full coverage insurance, and typical vehicle depreciation, you are easily spending about $4000/year just to drive a car. Now take the typical $2-3k Supra that you already own. Insured for the state minimum or maybe even a little more, with next to no depreciation (Its pretty much at rock bottom already) and you can put in ALOT of repairs to that car over the course of a year and still be saving money.

Someone commented on my thread in which I outlined the over 40 cars Ive owned, how none of the cars were new, or even all that close to new. The reason for that is while a car needs to get me where Im going, its also a hobby and recreation for me. I just happen to like to keep that recreation on low budget side.

 

[phoenix6]

I agree, its a major hobby and entertaining. I am dropping a 1jz into it, make it reliable, and finally get the desired power Ive been wanting. Front clip is snatching me about $2100. I know its hard work but Im ready to finally do it. I ok'd it with the woman, she said do it, so green light. Im gonna do research tomorrow and today and the rest of the week I guess on EVERYTHING Il need, its a 86.5 MA70, NO RUST.

I know its gonna be heavy but I wanted to do this anyways, I called the engine place, sucked dry on 7Ms, LOTS of 1JZs, the guy even offered me some deals bc he said his Toyota Market is hard to push. He said if I found him some more people he would discount me. Im going this week to inspect which clip I want, he even has 2 with VVTi, but Im not sure if I want it or not. Im hoping this wont be hell on earth, Im not expecting a walk in the park either.

Im also hoping Ill be one of a FEW people in Houston who have done this, right now I dont know any, but I know they exist.

 

[ValgeKotkas]

Weezl is 100% right in my eyes
and like me father says, the Supe has costed him at least 2-3x less than a car he would LIKE to drive as much as he liked driving the Supra

 

[NgoFcukinWay]

i think fstlane88 has a 1JZ, but i don't know where he is exactly in town.

i'll be willing to help you out depending on my work schedule since october is competition month for my gf.