So over the next 6-8 weeks i am going to be coming into about $5000-$6000… and im wondering what you would do? Should I put it down towards my car loan which i have roughly 10k left or should i build my car/motor? idk what i should do…
Do you have any other debt? Consider splitting it over both sources to be fair?
if you are really smart, you wouldn’t spend any of it on your car. Dump 6k into a 10k car and still have a car worth 10k… boo. Take a small chunk of that money and put it into the car. No more than a 1/4 of it. IMO.
no
yeah thats what ill prolly end up doing … i was thinking about buying Cams for my car and a chip that would cost me around 1500 total and then put the rest towards my car loan so i can refinance it and have a lower payment
Have you thought about saving it? Perhaps spend a little on your car but then invest the rest.
go buy a huge bottle of nos and just open it in your house
haha yeah guy i can get enough nos to blow us all up lol…
yeah actaully i was thinking about investing it into my car loan so that i will be able to pay it off in less that 1/2 the time and save a few thousand in interest
Are you upside down on your car loan, what’s your rate? Paying a car off early is seldom the wisest financial move.
of course there are wiser things to do with you money, but between the two options… paying off the loan early is a much better idea.
http://www.youngmoney.com/calculators/auto_buying/auto_loan_early_payoff
my rate is like 5.3%
5.3% is pretty good for a used car rate(I assume the car your talking about is the one in your avatar, correct me if I’m wrong), if your not upside down on your loan you’d be much better served investing the bulk of the money.
I prefer to pay it out and enjoy the credit rating increases.
yep try to pay off your car as soon as possible, think about the money you will save, you could use the money you would save to buy parts for your car…hookers, beer, whatever
i would def try and pay the car off
definitely put together a turbo kit, you can get the aa stage 2 c38 kit for around 5k iirc…the TRM turbo kit is $5500 and that’s EVERYTHING you need to see 350ish whp.
hehehe
does your employer have a 401k?
dont listen to these guys, planning for your future is for the birds, youre young, live it up :rofl
:haha Says the 26 year old retiree, I can’t recommend strong enough to save as much as possible when your young. Sure I busted my ass when I was younger and missed out on a lot, but now I have the rest of my life to make up for it; if I could go back and do it over the only thing I would change is to save even more, if I had I would be driving a new Porsche instead of a new S2k, now I have to wait till I’m 30 for the Porsche 
Let me use my awesome PC skills and be honest:
If you work at the local thruway authority and hand out thruway tickets or work at fast food or make like $25K or less a year, you should not be spending $5K or anything on your car.