boom50cal Posted March 10, 2015 Report Share Posted March 10, 2015 A few weeks from now I'll have enough saved over my comfort zone, and enough put back in my rainy day fund, to pick me up a new set of wheels and tires. I got to thinking though, it's a fairly big investment... Roughly $3800, BMF Novakanes and Nitto Trail Grapplers.... tires are needed pretty badly. Why not finance them? But in a particular way. Finance them, but have an account that has the lump sum already deposited into it, that deducts every month/twice a month, to pay them off. I'd have to talk to my banker about it, to see if it would even be possible... But to me, it sounds like a half decent idea? Money would all be there, and it would help me increase my credit score in the process, without interfering with my other finances. Over 12 months, payment deducted every other week, at maybe 4, 5 percent interest? Yeah, I realize I'd be paying a bit more, but the help/hurt ratio is something I would like opinions on. Thoughts, share them please. On 1/4/2013 at 9:31 PM, HatersGonnaHate said: Wow. 184 posts and I think you're a fucking asshole. Link to comment Share on other sites More sharing options...
ToNasty Posted March 10, 2015 Report Share Posted March 10, 2015 if work is steady i see no problem, plus builds your credit, and 3800 isnt a huge amount. Go for it ***Super Sellers List***http://www.stevemeadedesigns.com/board/topic/25829-super-sellers-buyers Link to comment Share on other sites More sharing options...
Broke_Audio_Addict Posted March 10, 2015 Report Share Posted March 10, 2015 Things like wheels and tires I'd just pay off if you have the cash, don't waste your time financing things like that. For all you know you could go out break a wheel or trash a tire and. Now you are stuck with payments for something you don't even have. That being said a lot of people's definition of "music" is a clipped 30 hz sine wave with some 80 IQ knuckle head grunting about committing crimes and his genitals. Link to comment Share on other sites More sharing options...
Kyblack76 Posted March 10, 2015 Report Share Posted March 10, 2015 Build credit bro..... just make sure you pay it off before "in time"..... SMD SUPER SELLER The Burban Build Blazer Build sold Acura trunk build sold Link to comment Share on other sites More sharing options...
gckless Posted March 10, 2015 Report Share Posted March 10, 2015 Shit man. Why not get a more reasonable set and pay it in full? Or if you're looking to build credit, finance for 12 and pay it off in 3-4. Don't wanna pay interest here if you don't have to, just make sure you don't get penalties for paying early. Or maybe it's better to open a credit card and pay that in full? "Clipping" is the biggest forum boner now. It's like witchcraft... it automatically explains just about everything people don't understand. My build log: http://www.stevemeadedesigns.com/board/topic/200295-gckless-2011-chevrolet-impala/ High resolution photos: Gilbert Kless Photography Link to comment Share on other sites More sharing options...
n8ball2013 Posted March 10, 2015 Report Share Posted March 10, 2015 I'd set the money aside. Make sure there is no penalty for early pay off and have at it. Pay them off over four payments and call it a day. THERE IS NO BUILD LOG! 1998 Chevy Silverado ext cab Alpine CDA-9887 4 Team Fi 15s 2 Ampere Audio TFE 8.0 2 Ampere Audio 150.4 3 Digital Designs CS6.5 component sets Dual Mechman 370XP Elite alternators inbound! 8 XS Power d3400 6 XS power d680 Second Skin Stinger Tsunami Wiring Sky High A Real Voltmeter not a piece of shit stinger. Link to comment Share on other sites More sharing options...
Kyblack76 Posted March 10, 2015 Report Share Posted March 10, 2015 I'd set the money aside. Make sure there is no penalty for early pay off and have at it. Pay them off over four payments and call it a day. Boom...... Ive done it to 3 cards, and 7 signature loans..... SMD SUPER SELLER The Burban Build Blazer Build sold Acura trunk build sold Link to comment Share on other sites More sharing options...
meade916 Posted March 10, 2015 Report Share Posted March 10, 2015 if you are a bill payin' mofo, i say yes! If you know you aren't very responsible i say no way. I finance stuff sometimes for the sole purpose of building credit even though i have the cash to cover it. Same thing for cars. I know i am responsible and have made every payment on every car i have ever owned, paying everything off as agree'd (that i didn't trade in). So knowing that, i don't mind always having a payment to have the car i want. But if i was bad about bills i certainly wouldn't do it. But my credit is 2 points shy of 800 right now so it seems to be working I'm not in a lot of debt at all either. I guess "don't get in over your head" would be my best advice. All SMD products + MORE available at my store here! https://wccaraudio.com/ Subscribe to My Youtube Channel! Over 1,000,000 subscribers strong! Turn on your notifications! http://www.youtube.com/meade916 Follow My Instagram! Daily live feeds from the shop, exclusive content way before it hits my Youtube channel...and little squares with photo's in them http://www.instagram.com/meade916 The Official SMD Facebook fan Page https://www.facebook.com/SteveMeadeDesigns/ Follow my Tweet (Twitter) http://www.Twitter.com/meade916 Link to comment Share on other sites More sharing options...
boom50cal Posted March 10, 2015 Author Report Share Posted March 10, 2015 Thanks for the responses guys. I'm pretty set on financing them out if i can. My truck payment is set on autopayment every friday, thats how i get paid. Never missed a payment on my toy truck i bought. The big issue i have, even though i have a steady job, good work history, and I'm able keep payments on time, is that i have basically no credit. Almost 19, goal is to have an 800 or REALLY close by 21, 22, somewhere around there...get a nice home loan at that point. Again, thanks for the replies and thoughts. I'll talk with my banker, see about early payoff penalties, and to see how this can/will happen. On 1/4/2013 at 9:31 PM, HatersGonnaHate said: Wow. 184 posts and I think you're a fucking asshole. Link to comment Share on other sites More sharing options...
n8ball2013 Posted March 10, 2015 Report Share Posted March 10, 2015 That 800 is a mythical beast right? Makes no difference for financing really but you want to have it. I almost pissed myself when I saw what mine was THERE IS NO BUILD LOG! 1998 Chevy Silverado ext cab Alpine CDA-9887 4 Team Fi 15s 2 Ampere Audio TFE 8.0 2 Ampere Audio 150.4 3 Digital Designs CS6.5 component sets Dual Mechman 370XP Elite alternators inbound! 8 XS Power d3400 6 XS power d680 Second Skin Stinger Tsunami Wiring Sky High A Real Voltmeter not a piece of shit stinger. Link to comment Share on other sites More sharing options...
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