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Did you take a loan for your mods

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Discussion Starter #1
So I want to do several things to my FJ and a couple of them I want done at the same time. This all adds up to quite a bit of cash. Have any of you guys thought about or have already taken a loan to do some of them?

D
 

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2008 Toyota Trail Teams Special Edition FJ Cruiser
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I say absolutely not. If you save and pay outright...then you'll appreciate it all the more.

No fun doing it all at once! slow and steady and most importantly - as you can afford it!

I know its hard looking around this forum...but everyone is in there own circumstances. You just can't compare.

And although it may look like some of these rigs were created overnight...most were not.

Debt never made anyone feel good about anything.
 

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I say absolutely not. If you save and pay outright...then you'll appreciate it all the more.

No fun doing it all at once! slow and steady and most importantly - as you can afford it!

I know its hard looking around this forum...but everyone is in there own circumstances. You just can't compare.

And although it may look like some of these rigs were created overnight...most were not.

Debt never made anyone feel good about anything.
What BC said...he knows what he's talking about...I'll go one step further and put a little more spin on it. If anyone's read my build, they know that if I can do it myself I will. I actually feel just a tiny bit of contempt (some people ((like my wife)) would call it jealousy) when I read some builds and do a running tally in my head of what it cost them to get to where they are. But you have to realize that some people actually have a little more jack to throw around than you or I do.

Bottom Line: different strokes for different folks, but the banker is the only winner in a "Bank Loan Build".

Ryon
 

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Most of my mods were cash. A few mods, like my supercharger, were CC purchases, because I wasn't really planning on it, just couldn't pass up the deal. :)
 

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What if you get in wreck? IMHO and as stated above, I wouldn't buy anything unless you have the money, FJ included.
 

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My morning song:

I owe, I owe, so off to work I go...

Assuming that "loan" includes credit cards.
 

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About a year and a half ago, I got bitten hard by the mod bug. I made some mistakes and bought some things I couldn't pay for. I'm still paying for them now. Take it from me; only buy what you can actually afford.

All of my purchases for the past 8 months now have been cash. You know what? It feels really good.

The question you should ask yourself: Is having a heavily modified FJ going to give you a transformational experience compared to just enjoying your stock one and slowly building it up as money (cash) allows?

This is all my opinion, but I speak from experience (mistakes).
 

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Discussion Starter #12
What if you get in wreck? IMHO and as stated above, I wouldn't buy anything unless you have the money, FJ included.
Never thought about the wreck situation so good point.
I have the cash, but I'd rather not let it all go at once. I thought maybe a loan/CC would be a great option.
 

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Discussion Starter #13
About a year and a half ago, I got bitten hard by the mod bug. I made some mistakes and bought some things I couldn't pay for. I'm still paying for them now. Take it from me; only buy what you can actually afford.

All of my purchases for the past 8 months now have been cash. You know what? It feels really good.

The question you should ask yourself: Is having a heavily modified FJ going to give you a transformational experience compared to just enjoying your stock one and slowly building it up as money (cash) allows?

This is all my opinion, but I speak from experience (mistakes).

Makes a lot of sense. :bigthumb:
 

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Never thought about the wreck situation so good point.
I have the cash, but I'd rather not let it all go at once. I thought maybe a loan/CC would be a great option.

Sounds like a lenders dream!

Someone who has the cash but would rather pay interest!

Don't take it personally, blame it on Dave Ramsey...haha
 

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Don't buy things you can't afford if you don't need them.

I.E. Don't buy truck mods unless you have spare cash to pay for them (or save up money a little each pay check).

I.E. A house is something you need, but not many folks are financially able to just pay cash for a house up front, so here a loan is a good idea. (same with a car as long as you are making enough money to easily pay it off)
 

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I don't pay retail so I have to pay cash for my mods. Seems with cash you can get better deals anyways.
I don't think it's a bad idea to charge it as long as you don't get over your head and take years to pay it off.
Some purchases we use cc for but it's in our budget to pay it off asap! Promotions like no interest for 1yr are great. JUST PLAN ON A 10 MONTH PAY OFF!! $hit happens and that's what the 2 extra months are for
 

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As already mentioned, with 36000 members floating in here, you have 36000 different bank accounts and situations. I for one cheated! My FJ came with DEALER INSTALLED Lift kit! I puchased it at the year and got a huge discount just so they wouldnt get hit with taxes on the thing after the first of the year. Its taken 2 years and some allowance money ( Wife controls the money) to get it where I have it. Plus I do all the work Myself.
I guess you could go all in, Finance the FJ, Take out a loan, get all the goodies installed, have a 60,000 Dolar rig, pay out 700 a month for both @ 10% over the next 7 years... And pray you dont break, bend or total it before then.....
You dont have to keep up with the Jones's...
 
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