Financing Thoughts

[Karkov]

If financing causes you to pay interest then maybe you should figure out how much extra the rims will cost you when all is said and done in the end. Just a thought.

Also, i did everything perfectly to get my credit score high but still hovered around 790 till I hit about 30 before it went over 800. I think the time thing is legit, just seemed so for me.

I applaud you for trying to think about credit in advance, being able to save money, and ask advice before just buying stuff at your age. Lots of good stuff going on in your mind bud. best of luck whatever you decide.

[meade916]

It's all in what you chose Meade, you know that.

People use that example as a reason not to go. Which is wrong.

You can see the annual salaries to the right of the job description when you are seeking the degree.

My sis and I both went to college, she makes beans as a teacher, and I make twice as much as she does as an ER Nurse.

.....because I saw that average salary "$69k-$80k". The annual is now $95k per yr. in 10 yrs it will be a bach. degree only

with >$100k as the income average.

If you pick a business degree, a psych degree, or liberal arts degree, the salary spread may be $40k to $200k, but

the reality sets in that it's the lesser.... thus the point you mentioned.

I'm laughing thinking how this word bothers people soooo much.

I will always be a pro-college, under 40hrs a wk sort of guy.

To each his own.

Sorry to jack your thread boom.

-Frank

Pay attention to what i posted. i am not "anti college". I am all for it if that is what someone wants to do. I said it isn't "automatic job/money". Which is true. I also said i know more people that don't have anything after years of college which is true. Sure if you are dedicated and love what you do.....and stick with it, you will have a better chance of making a good living later. Especially if you choose the medical profession (like you did) and you are good at it (no idea if you are). Choosing something that has no chance of landing you a job can happen, and it does.

[meade916]

shoulda gone to college so you could buy outright instead of financing.

I know more than a few people that went to college and don't have a pot to piss in. I know people that dropped out of high school that are doing very well. So going to college doesn't exactly mean "great job" and "lots of money".

Nothing wrong with financing as long as you pay your bills and i would suggest making double the minimum payment if possible.

You missed his thread about the corvette didn't you

must have....but looking now and on page 2. *goes to get popcorn* SMH

[rocking.that.eclipse]

Well just came up in my life that i bought a new amp and then my laptop dies. I don't have the cast to buy one outright but I do make enough to pay it off in a month if I needed so I think that I will pick one up on no interest and pay it off asap.

[donpablo]

Building credit is a good idea...i believe anything over a 730 gets you the best rates anyway

[boom50cal]

I've yet to speak to my banker about this yet... Spent all day yesterday and half a day today on a 10ft ladder wiring up 101 2x2 LED Lay-in fixtures that are dimmable, and the control unit that dimms them with a photocell that takes outside light to light the showroom accordingly. $300 our cost a light, each one takes 15-30 minutes to wire depending upon AC units.... labor included our sale price is close to $600 a fixture. Expensive, yes, but they draw .3a of current each at 120v...

Anyway, thanks for the input again guys. I know many of you are a pay off immediately people, others are pay out over time, I respect all of that.

When the time comes, in the following weeks, I will give updates to this thread. Dependent upon my bankers opinion, and if he even would finance this for me at a decent rate, is how this deal will go down.

And yeah, I'm a young kid this young kid has been saving parts of each paycheck since I was 16 though. Got a hefty rainy day fund alotted, and beginning to prep investments for a retirement account. I resist that urge a LOT... Big deal maker too, very picky. Back when I was buying my truck, the dealership wanted me to finance through them. $1500 down, 0% for twelve months...and a whopping 15% for the remainder of the 5 year loan. lol nope. 3 year 3.9% fixed through my bank... May be young, but responsibility is something I take very, very seriously.

[Deeznutz]

Boom,

I could tell you have a good head on your shoulders. The fact that you like to always mention your work in your posts tells me

1. You like your job, I mean it really satisfies you, the way I like my job,

2. You are motivated and determined!

Keep at it! Now in the future, because at 19, you have the world at your feet, you can actually do something big in the construction field which is big business.

Savings like you're doing.....You need to foster this in you because you sorta sound like you're an entrepreneur in the making.

As for the wheels, it can go either way.

Just do it, like Kardov said, see the end price. Even with a good interest rate and length of term, if the wheels are $2900 outright, and at the end you are willing to pay $3400 for them.....than do it. Either way, like I tell Christian "Don't do it son, unless you are dead set on it, than do it, and if it turns out to be a mistake you can always learn from it". This way I am not bursting his bubble, but adding an 'I told you so' in the same sentence. lol. Let this deal be determining factor in future finances vs. payoffs!

Let us know how you work that deal!

-Frank