Mods : Cash (paid for) Or Credit (Still paying)

Same.

 

You can finance anything even debt.

 

Somebody has to support the finance sector. I'm just doing my part.

 

I would say something about student loan debt and fed bailout but that would probably fly too close to the sun on this forum......... That being said, our economy is 70% consumer spending so if everyone acted financially responsible, and never took on debt, we'd all be living like it's still 1850.

 

Seriously. Besides Clark Howard makes a better financial advisor and he's not a total dick.

 

I financed my Truck. I won't brag or boast or lie about my situation. I am a 60 year old partially disabled veteran. I have 7 payments remaining.

If I can't afford it outright...I finance. So does MOST everyone else.

 

Thank you for your service

 

Thank you for your service


At the end of the day it doesn't matter who paid what or financed what. As long as YOU are happy is what matters.

 

Credit card then paid off. Need those Hawaiian Miles for when this COVID thing ends.

 

Cash only. The only debt I've ever had is my mortgage. I don't even like to lose money on mods if I can help it. It's always my preference to buy good condition used parts if possible vs buying new. That way the initial buyer takes the depreciation hit.

I've also learned that typically if you buy junk it's not worth much on the second hand market if you don't like the mod or decide to sell your vehicle...etc. Whereas quality parts that are in high demand you can likely resell for little-to-no loss. This doesn't so much apply to our trucks but with my Integra lots of the parts I've bought over the years have actually increased in value. I recently liquidated a hoard of Integra parts I'd been collecting and used that $ to fun mods for my Tacoma.

 

Agreed. Except for those who also have stellar credit and can acquire super low if not 0% interest loans. Even the super wealthy have debt because they know borrowing free money while keeping there capital for other things is wise money management.

 

This. Money is cheap to borrow right now. I owe a few grand on my work truck still, but so what?
I could pay it off today if I chose, but there are better things to do with that cash

Edit: I totally get those that dont like having debt, though. That truck loan nags at me too sometimes.

 

Why the fuck are people talking about mortgages & truck payments?! The thread is about if you finance mods or not. MODS!... & I’m definitely not taking financial advice from people who can’t read. Thanks anyway.

 

With all that money to pay cash for all of those things they either have shit credit or incompetent advisors or they'd keep their cash and finance it all for practically nothing. Classic case of more money that brains if paying cash for EVERYTHING is their option of choice.

 

Holyfuck!! For me working at a body shop I’m able to do side work. That being said I put some cash toward mods and other shit. My credit is fine by the way.
DGAF

 

Last year I paid of A LOT of stupid and old CC debt, I didn't realize how it affected me until it was over, I sleep much better now. I read a line that stuck with me and started the change "debt is voluntary slavery"
I'm not preaching,,, rather hoping it saves someone from going down that path.

 

The mods are paid for. Tires Wheels and shocks. The stereo is also paid for. Just the Truck. I had to finance that.