what should i do?

[EastBayStang98]

well i bought my car for 7k almost three years ago, i now owe about 2900, ill have it paid by the end of the year but its been giving me alot of problems, i want a termi SO bad i wont mind going into payments but then i know if i keep my car i gotta spend alot of cash just to make it run 13's, wat shpuld i do? keep my car and just build it, or go into payments and get a termi?

 

[JerZeyStangz]

Build up the GT. Payments on a terminator is hell. I know a couple friends who did it and said they hated it.

 

[94svtturbo]

I think you should keep your current stang. For the amount of money you would have to pay for the termi you could build you car to be faster than a termi. and you could customize to however your liking for that money

 

[snoball]

Buy a used, already modded termi.. they are in the low 20s with solid axle, pulleys and everything done to them already. You can find kb and whipple cars for that too if you look hard enough.

 

[bottlefed97]

My girl and I went and test drove this beast:

http://www.autotrader.com/fyc/vdp.jsp?ct=p&car_id=271837355&dealer_id=64853709&car_year=2003&rdm=1263560938112&lastStartYear=1981&model=MUST&num_records=25&systime=&make2=&highlightFirstMakeModel=&start_year=2003&keywordsfyc=__Y29icmE%2C__&keywordsrep=099111098114097&engine=&certified=&body_code=0&fuel=&awsp=false&search_type=both&distance=75&marketZipError=false&search_lang=en&sownerid=614110&showZipError=n&make=FORD&keywords_display=cobra&color=&page_location=findacar%3A%3Aispsearchform&min_price=18000&drive=&default_sort=priceDESC&seller_type=b&max_mileage=&style_flag=1&sort_type=priceDESC&address=33065&advanced=y&end_year=2003&doors=&transmission=&max_price=21000&cardist=31&standard=false&rdpage=thumb

And were literally going to buy it, but since Cobras hold their value, and the bank goes off of NADA prices, they would only give us $17,200.

Nevertheless it was the first time I drove a Termi, I definitely liked it!

 

[mustangshane]

Keep your car! Dont live your life in debt! Save the money if you want it that bad. Pay off your car and make payments to your savings account.

 

[gt96stang]

Keep your car! Dont live your life in debt! Save the money if you want it that bad. Pay off your car and make payments to your savings account.

+1 to not living in debt.... I'm paying off my CC's and I HATE the feeling of owing people money.
And my motorcycle payments.... Screw financing

Save the money up and drop it into the stang.

 

[Dalamar]

That would depend on the price of the Termy and what loan rate you can get.

 

[Mustang Mark]

save the 18k+ you would spend on a termi and put it into your car. think about what you could do with all of that money!

 

[97ponygt]

I'd save the money and spend it on modding your car

 

[ARdoller]

Financing an $18k car is far more realistic than taking that amount of a lump sum and just throwing it at a car you already own. If he was to drop $18k into his car, he'd probably have to wait 4 or 5 years to do so, by the time he has the money... by then, he may have already sold the car, and/or have other expenses to take care of. At least if he finances the car he wants, he'll have it right then and there, and can enjoy it now.

I dont know too many people that can just pull $18k out of their pocket for modifying their car. Where-as, financing a car, you're paying for it monthly, which for most people is much more feasible, and also gives them what they want to buy right up-front, rather than having to bank that money and buy whatever you're looking to buy, after you have that money saved up.

 

[joekd]

my two cents, call for an insurance quote before you even think of doing anything on a cobra

 

[97ponygt]

Financing an $18k car is far more realistic than taking that amount of a lump sum and just throwing it at a car you already own. If he was to drop $18k into his car, he'd probably have to wait 4 or 5 years to do so, by the time he has the money... by then, he may have already sold the car, and/or have other expenses to take care of. At least if he finances the car he wants, he'll have it right then and there, and can enjoy it now.

I dont know too many people that can just pull $18k out of their pocket for modifying their car. Where-as, financing a car, you're paying for it monthly, which for most people is much more feasible, and also gives them what they want to buy right up-front, rather than having to bank that money and buy whatever you're looking to buy, after you have that money saved up.

Nobody said he has to dump 18k right away. I mean a mod or two here then a mod or two there. Besides what if something happens in his life and he ends up not being able to make the payments? It's up to him and what his economical outlook is.

 

[bottlefed97]

Financing an $18k car is far more realistic than taking that amount of a lump sum and just throwing it at a car you already own.

Agreed

 

[JonBeast]

This is really a decision you have to make for yourself...

Do you have a steady job that will allow you to pay for the high car payments and high insurance payments? Will you have this job 5 years down the road?

Financing 18k is a lot of money...depending on credit, your age, your income, etc...payments could be stressful.

By the end of this year, your car will be paid outright...and if you put 400+ into your car every month, instead of into a car payment...you could build your car into a beast over time. Except, the bonus with owning it outright...is if you can't afford the 400 on certain months, you won't have to spend it...unlike a car payment.

 

[ARdoller]

Financing an $18k car is far more realistic than taking that amount of a lump sum and just throwing it at a car you already own. If he was to drop $18k into his car, he'd probably have to wait 4 or 5 years to do so, by the time he has the money... by then, he may have already sold the car, and/or have other expenses to take care of. At least if he finances the car he wants, he'll have it right then and there, and can enjoy it now.

I dont know too many people that can just pull $18k out of their pocket for modifying their car. Where-as, financing a car, you're paying for it monthly, which for most people is much more feasible, and also gives them what they want to buy right up-front, rather than having to bank that money and buy whatever you're looking to buy, after you have that money saved up.

Nobody said he has to dump 18k right away. I mean a mod or two here then a mod or two there. Besides what if something happens in his life and he ends up not being able to make the payments? It's up to him and what his economical outlook is.

If that was a valid reason to not buy a car, no one would ever finance a car. That's like saying you'd rather live out on the street because you're afraid of financing a place to live, because you're afraid of possibly losing your job sometime in the future... especially when you have no reason to think that.

 

[Win]

my two cents, call for an insurance quote before you even think of doing anything on a cobra

Depending on your age yes, but when i called i got a quote with full coverage on a 04 Cobra, full coverage on a 08 4 runner and liability on my 94 GT. I did not the max but about middle of the road with a $500 deductable and it was only 180 a month for all 3

If i was making more money right now i would do a car payment as long as the financing was a good rate.

This is really a decision you have to make for yourself...

Do you have a steady job that will allow you to pay for the high car payments and high insurance payments? Will you have this job 5 years down the road?

Financing 18k is a lot of money...depending on credit, your age, your income, etc...payments could be stressful.

By the end of this year, your car will be paid outright...and if you put 400+ into your car every month, instead of into a car payment...you could build your car into a beast over time. Except, the bonus with owning it outright...is if you can't afford the 400 on certain months, you won't have to spend it...unlike a car payment.

If you have good insurance and shopped around you should be fine on insurance rates.

 

[ARdoller]

If you have good insurance and shopped around you should be fine on insurance rates.

I agree. People are way to wrapped up in the name "Cobra" when it comes to insurance. If you drive like an idiot, and have the tickets to prove it, then sure, a Cobra is going to cost you a mint to insure. I have one speeding ticket to my name, and my Cobra costs me $5 LESS a month, than my 98 v6 cost to insure.

For those of you who seem to think a Cobra is never cheap to insure, I pay $1010/yr to insure my car, for a $100,000/$300,000 plan WITH A $250 DEDUCTIBLE. That means, I pay less than $100/mo for FULL COVERAGE, I am under the age of 25, I am listed as the primary driver for the car, and my name is registered to the vehicle.

It also pays to be a good driver not just to avoid outrageous rates, but to get discounts. I get a safe driver discount for never being in an accident (which doesnt count the tire-blowout that caused my last car to wreck), and having only one moving violation in 5 years.

If you drive like a moron, you're going to pay for it. Just because you drive irresponsibly, doesn't mean that insurance rates are out-of-hand, it means you are out-of-hand as a driver.

Basically, in the end, YOU ultimately determine how much you pay for your insurance, not the insurance company.

 

[Win]

my two cents, call for an insurance quote before you even think of doing anything on a cobra

Depending on your age yes, but when i called i got a quote with full coverage on a 04 Cobra, full coverage on a 08 4 runner and liability on my 94 GT. I did not the max but about middle of the road with a $500 deductable and it was only 180 a month for all 3

If i was making more money right now i would do a car payment as long as the financing was a good rate.

This is really a decision you have to make for yourself...

Do you have a steady job that will allow you to pay for the high car payments and high insurance payments? Will you have this job 5 years down the road?

Financing 18k is a lot of money...depending on credit, your age, your income, etc...payments could be stressful.

By the end of this year, your car will be paid outright...and if you put 400+ into your car every month, instead of into a car payment...you could build your car into a beast over time. Except, the bonus with owning it outright...is if you can't afford the 400 on certain months, you won't have to spend it...unlike a car payment.

If you have good insurance and shopped around you should be fine on insurance rates.

If you have good insurance and shopped around you should be fine on insurance rates.

I agree. People are way to wrapped up in the name "Cobra" when it comes to insurance. If you drive like an idiot, and have the tickets to prove it, then sure, a Cobra is going to cost you a mint to insure. I have one speeding ticket to my name, and my Cobra costs me $5 LESS a month, than my 98 v6 cost to insure.

For those of you who seem to think a Cobra is never cheap to insure, I pay $1010/yr to insure my car, for a $100,000/$300,000 plan WITH A $250 DEDUCTIBLE. That means, I pay less than $100/mo for FULL COVERAGE, I am under the age of 25, I am listed as the primary driver for the car, and my name is registered to the vehicle.

It also pays to be a good driver not just to avoid outrageous rates, but to get discounts. I get a safe driver discount for never being in an accident (which doesnt count the tire-blowout that caused my last car to wreck), and having only one moving violation in 5 years.

If you drive like a moron, you're going to pay for it. Just because you drive irresponsibly, doesn't mean that insurance rates are out-of-hand, it means you are out-of-hand as a driver.

Basically, in the end, YOU ultimately determine how much you pay for your insurance, not the insurance company.

Yep Agreed.

I was stupid when i was younger and have moved on from that stage. My last ticket was 4 yrs ago for 46 in a 35 in city limits. I hadn't had a ticket since i was 19 till that one for yrs ago. I am now 29 and have great rates. You determine your insurance.

 

[ARdoller]

I'm not saying I obey all the traffic laws all the time, but I'm also not dumb about how I drive. I know the majority of the tenancies of local police, as to which roads are more heavily monitored than others, I may speed sometimes, but I dont drive at a speed that is excessive to a point where I cant get within a reasonable speed in a quick enough time, without having to lock-up the brakes.... Beyond that, what else is there really? Everything else is pretty straight-forward. I'm not gonna tell you how to drive, because thats your decision, but to knowingly drive around like an immature person, then complain about how expensive your insurance is or how expensive it would be for the car you want, is all on you at that point. There are plenty of people driving very nice cars that dont pay out-the-ass for insurance, because they know how to, and actually do drive responsibly.