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Well I owe a good amount on my car and can't really justify doing anything to it until its paid off. How do you guys feel about modding a car with a loan?
 

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As long as its not a lease, I say go for it. I financed my 13 civic for 5 years and ive already done a bunch of stuff before my first oil change lol


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The bank may "own" your car till its paid off, but there is no agreement that would prevent you from doing any mods to the car, like a lease would. If the warantee is important to you, than just do mods that won't void anything and you'll be in safe waters


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He didn't say he couldn't do it, he said he couldn't justify it. From a responsible adult perspective, I can tell you that I plan to do very little to my car at least up front and it has nothing to do with warranty. Rather, it has to do with... well, if I have let's say $2500 to spend on "mods," wouldn't it make more financial sense to pay an extra $2500 on the LOAN? There I am spending "extra" money I have on the car when I don't even really own it yet and when I could spend that "extra" money to get me closer to being out of debt?

Do the grown-up thing. Pay that extra money on your loan. When it's paid off, there's nothing better than that feeling of pure ownership when the bank sends you the original title and you don't owe anybody ANYTHING.

P.S. on the same line of reasoning, leases are for suckers. No personal offense intended, but one would have to be mathematically disabled to find any way in which leasing a car for an individual is a better financial decision. It's dumb. (corporate is different, tax write-offs and such).
 

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Couldnt agree more, a lease is just throwing money out the window for 3 years


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Leases might cost more but its because your limited on mileage. Lets take a example of cost for a LX. 159*35=5565+2100 cash due at signing which is negotiable equals 7665. Then after the lease if you decide to buy its 11500. So adding it together it equals 19165 or sticker price. You then have to pay for the tires and brakes in some cases and generally all the maintenance that might be needed. If you are buying a lease car off the lot you're going to spend 16000 or more.

It all depends on your credit and if you're upside down on your trade in. It can be a great deal because you just jump into a new car and don't have the extra maintenance costs.
 

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Well I owe a good amount on my car and can't really justify doing anything to it until its paid off. How do you guys feel about modding a car with a loan?
Don't do it on a loan.. Save up and buy the mods outright.. Why would you want to pay interest?
 

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Couldnt agree more, a lease is just throwing money out the window for 3 years


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Why your throwing money away if u mod a lease car?

Almost everything we buy for the car are bolt on, just take them off before lease return.

There is a classified section to sell your used parts that's no longer needed.

Even if your renting, you still can spending money to turn it into a home that you like to be live in it..




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Well I owe a good amount on my car and can't really justify doing anything to it until its paid off. How do you guys feel about modding a car with a loan?
You need to really look at your Financial situation.

If you crash your car, are you able to repair the car with your own money ?

If you can't, don't mod your car, save your money for a raining day.

Example, rear bumper damage cost $600-1000, front end fender bender is about $2000-3500, and these are very minor damages.










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I took a 5 year loan,I owe about 15k,and just sunk 8000 in my car,state farm will cover any extras as long as you have receipts,I would sc it but warranty stops me.go for it.i would also question modding a lease,except tinting windows.


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Whoever said a lease is throwing money out the window is wrong. Especially if you decide to buy the car at lease's end. I'm looking into leasing a crz or a fit as a work car, and i can say i will be leasing so my initial payments are very low. And i plan on purchasing whichever car when my lease is up. That way, when my Si is paid off l, i'll just finance the rest of what i owe from the difference of what i paid on the lease.

Do the math. If you don't have a lot to put down as a downpayment or trade-in, leasing to own is the way to go.
 

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Whoever said a lease is throwing money out the window is wrong. Especially if you decide to buy the car at lease's end. I'm looking into leasing a crz or a fit as a work car, and i can say i will be leasing so my initial payments are very low. And i plan on purchasing whichever car when my lease is up. That way, when my Si is paid off l, i'll just finance the rest of what i owe from the difference of what i paid on the lease.

Do the math. If you don't have a lot to put down as a downpayment or trade-in, leasing to own is the way to go.

i purchase all my cars from 1986 till 2011...

i just now realized lease is a better option..

i spend more money on coffee a month than my civic's lease payment.

when i'm ready to return my civic, i'm gonna return my lx with brand new stock tires & hub caps, brand new stock springs, brand new muffler, brand new air filters, brand new stock headlights, brand new grill & very new stock sway bars...

pit crew will charge me $400 to put everything back to stock & it will take them about 4 hours..

and because i mod my lx, stock parts are pretty much all brand new, i will not get charge for wear & tear...
 

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Whoever said a lease is throwing money out the window is wrong. Especially if you decide to buy the car at lease's end. I'm looking into leasing a crz or a fit as a work car, and i can say i will be leasing so my initial payments are very low. And i plan on purchasing whichever car when my lease is up. That way, when my Si is paid off l, i'll just finance the rest of what i owe from the difference of what i paid on the lease.

Do the math. If you don't have a lot to put down as a downpayment or trade-in, leasing to own is the way to go.
btw, you know honda is giving $2000 cash back on crz, insight & civic hybrid
 

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Well IMHO if your making payments on your car and come upon some extra cash I would use those funds to payoff the car. For me that would be my priority rather than mods but we all know how tempting and addicting modding can be lol.
 

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If you lease to own it works buying the car if you buy it outright in the end cash.if you finance at a used car rate the apt will be higher.the absolute max I'll pay for my car if I go to terms with finance charge and doc fees will be less than 21,400.i plan on paying it off within 12 months so it won't break 21,000. Leasing for 3 years and buyout for even a 3 year loan at 2.9 or whatever apr I would get( it would be low, but not .9) for a 6 year total would break 21000. It just matters what works for you,IMO leasing is still a risk if you end up not liking the car,then most is lost.some need a lower payment,some go for 7 years,it's a matter of what works for you.I used to lease,it just didn't work for me.


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I seriously dont see the fun in using extra money to pay down the loan but we all know its the most sensible thing to do.I wish I was more sensible.My family budget is a serious part of life and IF Im lucky my overtime will allow me 100$ a month.thats a HuGe If!
 
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