bransdaman78

well the car not being fast doesnt make it an unnice car... to much redneck emphasis on being fast... guess what an old rusty and primer camaro with a built big block and n2o is fast... but that doesnt mean its not a POS. Even if you put 10k in your motor there are 1000 people that would smoke you... (now this is true here) you should be happy with you have, I am making my car fast(er) 2.. but bc thats what I enjoy.. not to impress others (solely anyway ] the point being that a car is a not like a house to add on to with a loan.. esp not performance modding it. Bc you could spend 20k on the best of the best and still blow it up on the dyno... then youd be really steamed. I say save your money and buy what you want... but thats just my .02

AJ06GT

+1 for the bad idea. If you want to do something for your car, put the money aside each month until you have the money to buy it. I'll come out and tell you that getting a loan is just plain stupid. Buying a car you don't have money for at the time is one thing, but getting a loan for parts for a car... that's ridiculous.

Brady98GT

if he wants to do it, hes prob gonna do it. he asked for our opinion and this thread turned into telling him not to do it.

Derf00

We interupt this thread for a reality check...

Mmmmm I'm with the nay sayers on this. Here's why. I understand what you're saying about people saying you're slow. I had an 87 Nissan Sentra through my college years AND the first couple of years outside of college in teh real world. Use a credit card if it's that important to you. If you don't have a card that has a high enough limit then there's obviously people in the real world that don't think you can handle your finances.

You say you have no debt right now. That's good. I was always in debt in college. You probably figure you'll have a great paying job when you get out of college in what..2-3 years and you can pay it off then. You say you don't have many bills right now...do you live at home? If you do, that is a MAJOR red flag. You don't have a clue what it costs to live in the real world and that personal loan of 4-10K with "low monthly payments" can sometimes make the difference between having money to pay for the bills or being broke or worse, with a negative net worth (if you don't know what net worth is, I rest my case).

Do what you want, I just hate to see when people get lost in the college world regarding money. Life comes at you fast and a car is a liability, not an asset.

You may now return to your regularly scheduled tread... [8D]

AJ06GT

And I gave him my opinion. That I would do none of it because it's a stupid idea. We're certainly allowed to share our opinion in hopes that the kid wont make a mistake that he'll regret later. I'm young and would love more power, but I know better than to do something like this, so I'm just trying to help him out. Hell, even when I get $1100 back from taxes, I'm being VERY generous to myself in allowing myself to spend $500 on gears, then the rest is going straight to my high interest savings account.

nanaki

nah derf. having that 4-10k loan on your credit report could be the determining factor between approved for a brand new mustang or a used hyundai.

majinprodigy

aside from bad idea or not.... Im in similar situation (except not with loans and everything) id suggest a built up 4.6 2v (prob cost around 4-5k)
and add a 100-150 shot of NOS + good tune youd be looking at about 7000 depending who does labor and everything and have a good 350-400 RWHP thats at your finger tips, you wont suffer gas mileage loss as you would with a s/c and you can always add one later on for more power...
again just my idea so you get best of a few worlds and you get your "fix" of speed =)

newb2000GT

Some jobs run credit checks these days...sure wouldn't want to miss out on a job because of a mod loan.

It doesn't always take bad credit to get a low credit score, just outstanding balances onno credit.

exLT1to01GT

I'm glad u guys are giving your input on this...trying to persuade me to do otherwise and all is cool, I respect everyone's opinion...I have been saving up and it just doesn't seem like the money is flowing in fast enough. I'm not going to get the loan just yet but I am using some of my tax return, for a stall, ET streets, strange adjustable shocks/struts, and upper/lower control arms. Hopefully this will curb my appetite for more speed for a while and then I'll probably just buy a zex wet kit once I get a few more paychecks. Again, thanks to everyone's input...I HAVE SEEN THE LIGHT! With that stuff and the rest of my bolt-ons I hope I am in the high 12s at least!

PWORLDSTANG

[sm=smiley32.gif]Good job everyone. We helped him make the right decision in the end. Job well done.