Financing Performance Parts?

[Stymee]

U could search a few more. Here ya go

https://www.moneyunder30.com/credit-card-cash-sign-on-bonuses

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[crcpdx]

Lol, it's not 12.5% .Cards will give you a set amount, in this case $500 if you spend $4000 in the first 90 days. After that it's usually 1or 2% back

 

[Stymee]

Lol, it's not 12.5% cards will give you a set amount, in this case $500 if you spend $4000 in the first 90 days. After that it's usually 1or 2% back

Exactly so in the first 3 months I use 2 types of these card and spend 4K, each card gives me 500 off, I won’t ever use the card again

I’ll keep the debt til the 0% runs out and then switch to another 0% card

WIN.....

 

[5ohh_kenny]

Exactly so in the first 3 months I use 2 types of these card and spend 4K, each card gives me 500 off, I won’t ever use the card again

I’ll keep the debt til the 0% runs out and then switch to another 0% card

WIN.....

That is... If you don't mind possibly taking a hit to your credit applying for multiple credit cards and closing cards after a short period of time. Otherwise this sounds like a no brainer.
I think there is just a stigma about carrying multiple credit cards in this manor.

 

[Stymee]

That is... If you don't mind possibly taking a hit to your credit applying for multiple credit cards and closing cards after a short period of time. Otherwise this sounds like a no brainer.
I think there is just a stigma about carrying multiple credit cards in this manor.

I don’t close them ever, that’s stupid. I just carry a 0 balance after paying them off

I have 832 credit score, believe me I’ve done this for trips, gifts, and I’ll do it for the blower purchase when I’m ready to buy.

CC companies throw these deal to people who have establish, perfect credit

ME

 

[hossman]

Yep use the banks money for you. Stymee is on point. Besides it’s your money and if you want to finance your parts that’s your call.

 

[VTR16]

I don’t close them ever, that’s stupid. I just carry a 0 balance after paying them off

I have 832 credit score, believe me I’ve done this for trips, gifts, and I’ll do it for the blower purchase when I’m ready to buy.

CC companies throw these deal to people who have establish, perfect credit

ME

@Stymee has it figured out. I think a lot of people relate a credit card with making that silly, never-ending, minimum payment. You can pay however much you want on the purchase whenever you want. Make 2 payments on it....or 12. Doesn’t matter. Just make sure it’s NOT the minimum payment. There’s definitely a strong negative stigma that follows credit cards. Which is created by those who abuse them. Which is extremely easy to do lol. Some folks can manage $10,000 cash on a purchase at once. Others can’t. Split the $10k into a few chunk payments and it’s easier on the wallet. It’s definitely not for everyone cuz it’s certainly a slippery slope.

 

[Zeb8806]

The older I get the more I realize everyone is comfortable with a different level of debt. Personally, I opened a 0%intro rate card 5 years ago to purchase a H/C/I package for my gto, paid it off before the 0% was up. I still think that was the best way to do it at the time. Today though I try to limit the number of reoccurring payments I have, I use a travel rewards card for all purchases but pay it off each month.

Lots of ways to skin the cat, all comes down to what your comfortable with.

 

[Stymee]

The older I get the more I realize everyone is comfortable with a different level of debt. Personally, I opened a 0%intro rate card 5 years ago to purchase a H/C/I package for my gto, paid it off before the 0% was up. I still think that was the best way to do it at the time. Today though I try to limit the number of reoccurring payments I have, I use a travel rewards card for all purchases but pay it off each month.

Lots of ways to skin the cat, all comes down to what your comfortable with.

Exactly but again the stock markets killing right now so me, I wanna hold onto my moola, chip away until a decline then pay off the balance

I think the markets good for another 5-8 months, especially is we make the 2nd deal with the Chinese

 

[Braski]

Wondering what everyone’s opinion is on financing performance parts.

I see the option for affirm on most retailers websites. They are offering 10% financing for 1-3 years which seems rather high. How often do people really use this option?

I’ve been eyeing the hellion TT kit for awhile now but 10k(built to my likings) is out of reach right now after buying my house. Why can’t the likes of @LethalPerformance & @beefcake offer in house 0% financing like most jewelry, home improvement, or furniture retailers? Is it simply a question of corporate size and profit margins?

All depends how old you are OP! If your older in life chances are your current financials aren't going to significantly improve so have at it. However if your in your younger years hold off on the turbo and start working on saving for your retirement and paying off any unwanted debt! By doing this buying a turbo later in life would be no big deal. Personally I would never finance mods for a car!

 

[Stymee]

All depends how old you are OP! If your older in life chances are your current financials aren't going to significantly improve so have at it. However if your in your younger years hold off on the turbo and start working on saving for your retirement and paying off any unwanted debt! By doing this buying a turbo later in life would be no big deal. Personally I would never finance mods for a car!

Did u buy your mustang with all cash?

 

[gixxersixxerman]

Years ago i built a car on credit. It really bogged me down. I was lucky and worked at a company that i was able to get deals at cost or below cost on everything. I spent every month making minimums. When i parted out the car i was pretty much able to sell everything at what i paid for it because of the deals. some i even made money. I paid off all my credit then. SOOO if you are going to be paying minimums then no. dont do it lol. If you are going to stretch yourself to get the parts you want, especially FI, what happens if the engine lets go? if you are stretched to pay for the FI how do you pay for the engine? you have a garage piece sitting there. Stymee has it figured out. I just broke the 800's and use a method that he stated before. Now i have cards with 0 on them and 1 card that has a stupid high credit line that has very little on it during the 2 year 0apr. and it wont have anything once that promotion is up. Ill never finance the build again. the car yes, parts nope.

 

[Braski]

Did u buy your mustang with all cash?

No, I financed it for 36 months @ 0.9%! The money I had working for me in the stock market for those 3 years far out performed the the very little interest I paid! One of my finance rules is to never take a car loan out for more than 3 or 4 years so I can get the lowest interest rate possible!

 

[Stymee]

No, I financed it for 36 months @ 0.9%! The money I had working for me in the stock market for those 3 years far out performed the the very little interest I paid!

So I go 0 for 15 month on 2 CC that would give me $500 x 2 if u spent $4k each and made payments just as u made on a Car

Figure I pay 350 for 15, that’s 5250 and then I balance transfer the other 1750 for 15 at 0 and pay a teeny bit over a 100 a month


Blowers paid for in 25 months and all the while my 8000 is making 7- 14% in the market?

Granted I can buy it cash right now but why, not everyone is in that position though so I get it and honestly if u can’t afford to pay for now then u shouldn’t finance it at all

I can do either at any point so for me it’s a no brained

 

[Braski]

So I go 0 for 15 month on 2 CC that would give me $500 x 2 if u spent $4k each and made payments just as u made on a Car

Figure I pay 350 for 15, that’s 5250 and then I balance transfer the other 1750 for 15 at 0 and pay a teeny bit over a 100 a month


Blowers paid for in 25 months and all the while my 8000 is making 7- 14% in the market?

Granted I can buy it cash right now but why, not everyone is in that position though so I get it and honestly if u can’t afford to pay for now then u shouldn’t finance it at all

I can do either at any point so for me it’s a no brained

I'm not disagreeing with you or looking for a finance lesson. I simply gave my opinion towards the OP's question. He did state he doesn't have the cash for it after buying a house.

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