typhoone Posted June 13, 2007 Share Posted June 13, 2007 Okay, let me start by saying that i have no real money problems, i am just far from good at saving up my money. I really want a hybridz, and i have been thinking about taking out a decent sized student loan this coming school year. I have scholarships that take care of all of my tuition and books, so i could take out a loan and put all of that into my car and bank account. There is a shop that is just opening up in my town and the owner has already done a full rb25 swap into a 280, and i was talking to him about doing my swap. He said that he could do a full rb25/26 swap into my Z in ONE WEEK for 1,500-1,800. At MAX it would be two weeks, and that is with problems. i have looked at his car, and the car that he has done the swap into and it is nice. He knows his swaps, he does it right, and he doesn't cut corners. Of course i would have to pay for the motor, but i have talked with my sponsor and they will kick in and help with the costs of course. So here is my question, i am going to be a Junior this year, and as of yet i haven't taken out any loans during my college career and the payments would be reasonable plus i wouldn't have to pay anything until 6 months after i have graduated. Is it a good idea? It seems like a good idea, but let me know what you think. thanks for any and all opinions. -Typhoone Quote Link to comment Share on other sites More sharing options...
mark Posted June 13, 2007 Share Posted June 13, 2007 One of the stupidest financial decisions I've heard in a long time. Getting out of school debt free is worth more than any car you would end up with. Which by the way will end up being a money pit. They guy will end up charging way more than you expect, the motor will end up needing parts and a rebuild. It will go on and on. Get out of school, get a job, learn to save, save, pay cash for toys! Quote Link to comment Share on other sites More sharing options...
SteelToad Posted June 13, 2007 Share Posted June 13, 2007 Okay, let me start by saying that i have no real money problems, Yes you do!, there's a huge hole at the bottom of your pocket, go ahead, take a look. If you don't have money problems now, thats great, drive your car and continue to be happy. But DON'T take out a loan that will charge interest to spend on something that can only depreciate. It just doesn't make any mathematical sense at all. But hey, I'm just another voice on the internet. Please go to any of your local banks, and talk to the qualified loan officers there. Tell them you'd like to take out a loan to put a bigger engine in a 20+ year old car. Quote Link to comment Share on other sites More sharing options...
Guest Death69 Posted June 13, 2007 Share Posted June 13, 2007 One of the stupidest financial decisions I've heard in a long time. Getting out of school debt free is worth more than any car you would end up with. Which by the way will end up being a money pit. They guy will end up charging way more than you expect, the motor will end up needing parts and a rebuild. It will go on and on. Get out of school, get a job, learn to save, save, pay cash for toys! exactly! my brother went to college and was a complete idiot. he bought clothes, shoes, didnt save up any money to help pay for college. my parents had to get him out of 60,000 dollars of debt, and they were considering making him pay for it himself to "teach him a lesson". Just save up, cars come and go, but that college debt can list forever! Quote Link to comment Share on other sites More sharing options...
johnc Posted June 13, 2007 Share Posted June 13, 2007 Really, really bad idea. Quote Link to comment Share on other sites More sharing options...
EvilC Posted June 13, 2007 Share Posted June 13, 2007 Really, really bad idea. I second that. I just finished school a month ago......DO NOT DO IT! Quote Link to comment Share on other sites More sharing options...
typhoone Posted June 13, 2007 Author Share Posted June 13, 2007 Dang, i don't think i have ever seen so much negative feedback in one thread. lol.. Well, guess i will just have to try and work out some deals and do a lot of talking with my sponsor etc and try and get this done the other way. lol. Thanks for all the Common Sense Smacks. lol. Quote Link to comment Share on other sites More sharing options...
JSM Posted June 13, 2007 Share Posted June 13, 2007 Yeah don't do it. Good advise by Mark. Quote Link to comment Share on other sites More sharing options...
proxlamus© Posted June 13, 2007 Share Posted June 13, 2007 NO Student loan is for school man. come on just be patient. Quote Link to comment Share on other sites More sharing options...
Trevor Posted June 14, 2007 Share Posted June 14, 2007 Get a job now. I worked 2 jobs, 55 hour-weeks in grad school. I had to graduate, just to get a break. One job, free time to work on cars, and no school felt like a vacation. Quote Link to comment Share on other sites More sharing options...
typhoone Posted June 14, 2007 Author Share Posted June 14, 2007 i do have a job. i work 6 nights a week, 5-12 and during the school year i am taking a minimum of 5 classes. Quote Link to comment Share on other sites More sharing options...
proxlamus© Posted June 14, 2007 Share Posted June 14, 2007 just be patient man. seriously Quote Link to comment Share on other sites More sharing options...
Thanh Posted June 15, 2007 Share Posted June 15, 2007 Okay, let me start by saying that i have no real money problems, i am just far from good at saving up my money. I really want a hybridz, and i have been thinking about taking out a decent sized student loan this coming school year. I have scholarships that take care of all of my tuition and books, so i could take out a loan and put all of that into my car and bank account. There is a shop that is just opening up in my town and the owner has already done a full rb25 swap into a 280, and i was talking to him about doing my swap. He said that he could do a full rb25/26 swap into my Z in ONE WEEK for 1,500-1,800. At MAX it would be two weeks, and that is with problems. i have looked at his car, and the car that he has done the swap into and it is nice. He knows his swaps, he does it right, and he doesn't cut corners. Of course i would have to pay for the motor, but i have talked with my sponsor and they will kick in and help with the costs of course. So here is my question, i am going to be a Junior this year, and as of yet i haven't taken out any loans during my college career and the payments would be reasonable plus i wouldn't have to pay anything until 6 months after i have graduated. Is it a good idea? It seems like a good idea, but let me know what you think. thanks for any and all opinions. -Typhoone If your not good at saving up, what happened if something comes up and you gotta drop out of school? You would have to save up and pay the school loan rightaway. Remember, the loan says you don't have to pay it back as long as you are in school or until you graduate. Think its a bad idea? Just have fun with your car, save up money, cut back on going out all the time and you will have that money in no time. Quote Link to comment Share on other sites More sharing options...
Guest blackhyb Posted April 11, 2008 Share Posted April 11, 2008 i say do it i would. why not you only live once and it the lowest intrest rate your going to get so the hell with it do it what do you really have to lose as long as you have job why they hell not Quote Link to comment Share on other sites More sharing options...
jknc90 Posted April 11, 2008 Share Posted April 11, 2008 Welcome to HybridZ blackhyb, but you might want to check the date in the upper right hand corner of each post. This post is pretty old. Regardless, welcome. Quote Link to comment Share on other sites More sharing options...
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