Boosting a finance mustang *?*

[5.oh]

Who covers mods? This is news to me. Granted there are some niche insurance companies that cover kit cars, mods, and the such but I haven't heard of any national company cover anything more than what you bought at the dealership.

State Farm did a good job of covering my old car's blower set up, suspension, wheels etc. the only things they did not cover were fuel system and a few odds and ends.

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[DeadLoad]

How about 30k invested into a 30k car just in the firs year. 15 body and suspension and 15 motor. Could have paid the car off in full by now lol.

 

[pwny]

I hate this shit. Regardless of what happens the person on the loan is liable for the balance of the loan. While the bank may "own" the car you still gotta pay to play.

I say as long as you are not upside down on the financing go for it but if you are one of the people who put 0 down and only make the minimum payments id think twice. anything happens and you are screwed.

That's not always true. Since most auto loans are nonrecourse debts the lender can seize the vehicle but typically cannot follow up on you for depreciation or devaluing the vehicle due to modifications or impairing the vehicle (such as blowing the motor). In theory, you could beat the shit out of the car, pop the motor, take the credit hit and wipe your hands clean of the situation.

I'm definitely not against modding a financed vehicle. Like you said though, you have to pay to play. Most of the time it makes more sense then plopping down $40k cash on a car, modding and breaking something without the proper reserves. I'm just saying for OP's peace of mind, there are far more people taking advantage of financing the car then there are people that own the car outright.

 

[foff667]

I personally would try and avoid it. I am assuming if you weren't able to pay for your car with cash up front you will be adding the blower to a credit card so you are stacking interest on top of interest. But then who are we to tell you what to do. I can just tell you from experience that once parts start to break when you are paying $500/mo for your car + insurance + gas + broken parts you might start to regret it. I was lucky enough to have been able to pay 75% of my car through my down payment and then had the other 25% paid off within 5 months, wasn't until it was paid off when I went boosted.

 

[Angry50]

I wouldnt worry about it unless you are going to be pushing the limits. if you get some know commonly safe setup and do everything right. i wouldnt worry. sure there is always a chance but if you put thousands on it stock with no issues odds are you are safe. im looking to get some boost, maybe with my extended warranty refund lol

 

[3beeps]

Yep 0% financing on mine. No point in laying out all the money if you can use theirs for free.

Just don't get the mods on credit if you don't have the money.

 

[M151A2]

Had my car for 4 months and pulled the trigger on a blower. I have a 0% loan and pay double the payments. A 0% loan is a now brainer.
I have about 10 grand worth of add-on's and haven't looked back. Might as well have fun right out. The hell with Warranties too.
The only time I go to a dealership (read crooks) is to buy the car.

I say, go for it!

 

[ahl395]

I financed my car, financed part of the blower, and financed the trans repair when it broke afterwards. :lol:

It's only money. I'll probably be in debt for 6 years but it's all worth it to me.

 

[z06psi]

Mine was financed but not now. Paid off the car and the house this month.


Building another house now.

It never ends.

 

[oesman]

I paid cash for my car, because it was destined for serious abuse from day one. I would pay off any car before doing any serious work to it. I believe you should own project cars. My daily Audi is a virtually interest free loan I don't even try to pre-pay, in fact I'll sell the car before I pay it off, but I don't mod it.

Legally in 99%+ of cases you should be able to mod it all you want. Maybe some strange contracts exist, but I've never seen anything like that. Many people do heavily mod cars they don't have much equity in. I just think it's dumb. I have close to $60K into my car if you count the price of the car itself. If I were making payments I'd probably still owe the bank around $20K on the car. I'd feel like I poured nearly $30K into something I own ~$10K of. Plus to me a heavily modified car with a loan against it screams "it's your daily and you won't be able to afford it when it blows up and you can't get to work".

 

[5.oh]

I paid cash for my car, because it was destined for serious abuse from day one. I would pay off any car before doing any serious work to it. I believe you should own project cars. My daily Audi is a virtually interest free loan I don't even try to pre-pay, in fact I'll sell the car before I pay it off, but I don't mod it.

Legally in 99%+ of cases you should be able to mod it all you want. Maybe some strange contracts exist, but I've never seen anything like that. Many people do heavily mod cars they don't have much equity in. I just think it's dumb. I have close to $60K into my car if you count the price of the car itself. If I were making payments I'd probably still owe the bank around $20K on the car. I'd feel like I poured nearly $30K into something I own ~$10K of. Plus to me a heavily modified car with a loan against it screams "it's your daily and you won't be able to afford it when it blows up and you can't get to work".

60k and only 663 hp that's silly. My bank owned car makes more power with way less money in it. Also not my daily, interest free loan, owe less than 30% of its value etc. fml I'm so dumb

 

[stang17]

I financed the blower and some of the exhaust and suspension components.

Traded my 2013 Hyundai sonata in (paid off) for $14,800 which was my down payment along with $1,000 cash and took a 84 month 2.9% loan out for the balance with monthly payments of $459.

Absolutely zero regrets.

I also intend to keep the car in the family forever.

Insurance is though Traveler's. They offer additional coverage for aftermarket accessories and parts, albeit it is expensive.

 

[oesman]

60k and only 663 hp that's silly. My bank owned car makes more power with way less money in it. Also not my daily, interest free loan, owe less than 30% of its value etc. fml I'm so dumb

Hahahahahahaha I havent updated that signature since I first installed the PC kit on the bone stock car. Furthermore my car is a track build, not drag/street racing, there is no ac, its gutted, and rides like its on rails. However, it makes just a little bit more than 663 after the headers, fuel system and straight 104 race gas ;). Ultimately $60k isn't money I lose any sleep over and its going to be even more expensive sooner than later. Need a full cage, fire suppression, racing seats, lots of tires, more wheels and a spare trans and motor. I bought a truck to tow it lol.

 

[Notagain]

LOL Foot N Mouth..................

 

[pwny]

This is all I can think about after that response:

[ame]

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