ok, so heres the plan...

teamliviD · Post by **teamliviD** » Thu May 03, 2007 10:22 pm

So since I cant get a loan for the $5k I need to finish the Neon, and I dont have $5k just laying around anywhere, and everyone wants me to finish the Neon so bad, I'm gonna try to refinance the car for what its worth, $9k. I only owe $5800 on the car, so the extra $3200 should help out alot. I talked to a budy of mine that used to work in the loan department for a bank and hes pretty sure I can do that. So, next week sometime I'm gonna go to the bank and talk to them to see what they say. If everything goes to plan, I can have the Neon finished in about a month or so. If not, check the for sale board and ebay for all my parts. Keep your fingers crossed for me, but not double crossed cause thats bad luck.

fixitmattman · Post by **fixitmattman** » Thu May 03, 2007 10:32 pm

This is a bad idea.

Financing cars is a bad idea, financing mods are even worse.

J-Villa · Post by **J-Villa** » Thu May 03, 2007 10:48 pm

even though i want you to finish your car...i just think it's a bad idea....paying cash to finish your car isn't bad....but goin into debt with interest just to finish it is not worth it...(i know you won't be in debt over a 9k something loan but just stating)....if i was you...i'd sell everything off of it...you'd have almost enough money to pay it off...put a stock motor in it from like ebay or a junk yard and make it a DD...and keep miles off the charger

-Devil- · Post by **-Devil-** » Thu May 03, 2007 10:50 pm

very bad idea

teamliviD · Post by **teamliviD** » Thu May 03, 2007 11:02 pm

Ok, I pay $400 a month now for the car payment, it will be payed off in about a year. If I refinance it even at 11% for 2 years I'll still be paying close to $400 a month. I think it would be worth it. Hell I've been paying for a car that I havent driven in almost 3 years, I would be happy to a hole nother year of car payments just so I can drive a car I'm paying for.

ragek23 · Post by **ragek23** » Thu May 03, 2007 11:09 pm

yeah i agree better to have the car working especially since u have put so much into it already. don't give up now!!! Good luck!

tooslow · Post by **tooslow** » Fri May 04, 2007 9:20 am

personally I would not do it.
but I had buddy take out a personall loan 5k too turbo his 350z he regreted it and ended up selling the car since he was in too much of hole with car payments and the loan payments.

Mr Josh Zombie · Post by **Mr Josh Zombie** » Fri May 04, 2007 9:30 am

You do what you feel you CAN do.

underway · Post by **underway** » Fri May 04, 2007 9:38 am

GO IN THE HOLE....worst case scenario you just quit payin it and ur credit goes to shit... worth a shot....credits over rated anyways.....wat are u building again? lol.... o i just happen to be lookin in the garages and happen to click most moddified cars and guess whos at the top?...YOU...... finnish the car

TNK · Post by **TNK** » Fri May 04, 2007 10:52 am

i say do it. if the wife and i had better credit, we would refi both neons and use the $$ to pay off our credit cards, but we have smurfed our credit up so badly that we are smurfed.

anyways, joe, good plan, good luck, and i cant WAIT to see her finished.

KrackstaR · Post by **KrackstaR** » Fri May 04, 2007 12:25 pm

Man as long as you not taking out a loan thats greater than what you can afford and that the loan is not greater than what you could sell parts and car to clear yourself incase you need too.

I agree at this point with the amount of money vested in the car go ahead and complete it you wont live with your self if you never get to enjoy the car for atleast one year in a complete state.

Arro · Post by **Arro** » Fri May 04, 2007 12:39 pm

I say wait one year till it's paid off.

Then decide. Gives you plenty of time, plus you won't be making the payments on it anymore, which gives you extra $$$ each month to shove into mods. Plus you won't OWE on it anymore.