People need to wise up financially...

[Silver Ecstasy]

I have seen it since I've ever been on a car forum. I've bit my tongue until now. And what a better time to come out and speak the truth - when the economy is down and people have less and less cash in their pockets.

You guys really need to start thinking longer term sometimes. I see alot of people piss away alot of cash into their cars, way too fast, way too soon. And then, one of two things happen:

-A "i'm broke, selling mods" sale thread pops up
or
-Warranty issues that you never anticipated

It actually pisses me off after a while because I feel like aftermarket companies milk people dry just because we can't help but have instant gratification for our cars. And then ontop of that, you go broke so you put up all your used mods up for sale and make 50% of your cash back. You might as well save your mods, enjoy the hell out of them and live more frugally and save up as much as you can going forward, instead of selling used-ass mods for half off. It's a viscious cycle almost, and I just can't help but wonder whats going through peoples heads when they do this!

And then on top of it, people will buy whatever is available, slap it on their car, have an issue then expect the dealership to cover it when you've altered your car in so many ways you can't even retrace the steps where something might have happened or narrow it down to the point you can prove theres no way that single or multiple mods caused the issue.

The point i'm trying to make is, is any of that financial or emotional stress worth it??? I'm going to mod my car for sure, but I think long term all the time. I like being financially capable of doing what I'm doing at a young age, but I wonder why other people don't catch on to any of this. Especially younger cats. And when you start like that, you never change. I started like that and found out real early that I have to stop pissing money away left and right on my car. I woke up and changed my ways.

[disclaimer= please keep this civil, I don't want anyone pissing and moaning because their offended. Truth is truth, lets chat about this.]

 

[NCZ13]

This thread and post gets a big +1.

i myself have been spending a bit more lately than i should be, but i still live at home, and go to school full time, so im still reliant on my mom for the most part.

but i see threads like "i just got my speed3 and ive ordered these parts"

and they are people who are just about my age (18), and possibly dont make enough to afford a car payment, plus mods...

gas is up, food prices are up. we all need to learn to conserve (our money that is)

 

[mountjonas]

it's not just kids. browsing craiglists you can find so many damn toys for sale. i was looking at a $2000 pool table going for $500 because the guy had to "move out" of his house. people like to live well beyond their means.

not car related, but my friends went looking for a house last weekend. 2 of the ones they saw looked like "they ran around the house with a hammer." they destroyed their house right before they moved out because of foreclosure. every wall had a hole in it, mirrors were broken, fixtures taken, and wine was poured onto the carpet. it's pretty sad. wait... what were we talking about?

 

[kickniteasy]

+1.....quick story on this:

My good friend/former roomate, a teacher, decided that as soon as he got his first pay check he was going to go out and lease a 4 door toyota tundra. I sat him down a few times to try and tell him a single guy with no need for a truck doesn't need a 4 door gas hungry monster but he wouldn't listen because he could afford it (barely) at the time. That was about a year ago and, sure enough, gas prices go up and he got in an accident so his insurance went up and just like that he couldn't afford to keep gas in the truck. He said a lease buy out was too expensive so his truck literally sits in his driveway and doesn't move, he borrows his roomate's car and puts gas into that since it's so much cheaper than gassing his truck.

I think a lot of people just don't think things through. It's one of those things where I go by my dad's motto, "If you have to sit down and really wonder whether or not you can afford it, you can't". As someone with 2 dogs, a cat, and a bunny, I know a big vet bill can loom just around the corner so I stay away from what I want at this point and stick to what I need. I want a WRX....I need whatever will get me from point A to point B.

 

[lowpro35]

i definitely hear what you are saying ............looked at national debt lately????

(what i'm sayin) maybe you should address this to the country.....

 

[thaikim]

Well modding cars can be pretty addicting... I mean some days it can be downright bad like intervention and automotive anonymous... you think with each mod the lust for parts will be quenched but then there's always something else.

Now I myself do find it mildly annoying how people dump a crap ton of money into their cars and within a few months/weeks strip it down and sell it... It's like chasing this girl for months putting all this time and money into woo-ing her and bam you nail her, pull up your pants and stop answering her texts....

I also think its retarded how people don't do things right the first time and essentially waste money, they buy mediocre parts cuz they can't afford quality stuff or don't have the patience to save up and get it (immediate gratification) and then 6 months later they buy what they wanted in the first place and up goes for sale the knock off e-bay crap.

Bottom line: Modded cars are pits in which one throws money into... Some pits are deeper then others...

 

[lowpro35]

that's a lot of commas right???

 

[mazda protege 2]

i worked my ass off for 3 years prior to getting my car.

bought my ES, spent enough coin on it, live with my girlfriend at a shared house, pay insurance, just got out of school and im 18.

i just planned all my stuff thats all. but i will admit trying to scrape up some cash for my turbo build is HARD!

 

[kickniteasy]

yep...modded cars are pits, I just want to make sure that I can afford a pit before I start digging =).

 

[Donas64]

Excellent post.

This is why I smile everyday as I drive my slow as molasses P5 back to my very affordable home where I don't have cable or a plasma TV. My wife and I pay our bills and our 30 year fixed mortgage and then we lay our heads to bed at night and sleep knowing that we might not be living the high life, but we're not living beyond our means and all the bills are paid. And we even have enough left over to go out for a fancy dinner once in a while.

Would I want an MS3 or Pontiac G8? You bet I would, but not at the expense of peace of mind. More power to those who can afford them comfortably though. Maybe one day I will join your ranks

This post brings to minds stories like this:

http://blogs.wsj.com/developments/2008/07/31/extreme-makeover-home-in-foreclosure/

Extreme Makeover’ Home in Foreclosure

Associated Press
From rebuilt to foreclosed: A home featured on an episode of the ABC television show “Extreme Makeover” (pictured, left) in January 2005 is scheduled to be auctioned off at the Clayton County Courthouse on August 5, according to, the Atlanta Journal Constitution reports.

The Harper family of Lake City, Ga., used the new home as collateral for a $450,000 loan to finance its own construction business, a venture that ultimately failed. The Harpers original house included a faulty septic system that backed sewage into the home when it rained. After tearing that structure down, “Extreme Makeover” and Beazer Homes USA, a home builder based in Atlanta, built the new four-bedroom home. More than 1,800 volunteers took part in the six-day project, which was the show’s largest one to date at the time.

Complete with a three-car garage, four fireplaces, a music room and a solarium, as well as a fancy yard full of magnolia and cypress trees, the new home stood out in its neighborhood of ranch and split-level homes, the Atlanta Journal Constitution says. The materials and labor, valued at about $450,000, were donated.

But the Harpers didn’t just get a fancy new house after the show. Beazer Homes raised $250,000 as contributions for the family to use as scholarships for the three children and for a home maintenance fund. While the home was being built, the Harper family spent six days at Disneyland.

ABC responded to The Atlanta Journal Constitution by email and stated: “Extreme Makeover: Home Edition” advises each family to consult a financial planner after they receive their new home,” ABC said in an email to the Atlanta Journal Constitution. “Ultimately, financial matters are personal and we work to respect the privacy of the families.”

 

[MazdaSpeeder]

This is a good word...I had some serious mod fever when I first bought my P5, but I am learning to be content...there are way more important things!

 

[Silver Ecstasy]

I think part of the reason we're in such crappy shape as an economy now is because people have made so many stupid prior mistakes, that everyone's negative in the hole right now.

Here's my take on modding: I went that route, and I had issues, and I couldn't get them taken care of under warranty. I'd buy something new every weekend, then install it. The more money I spent on the car, the more I was in debt (emotionally as well--freaking out that someone could break into the car, steal things, or the car all together). I was becoming a slave to my car.

One thing I could never fix, was my crave for speed. I decided that it wasn't worth attempting to toss more "go" mods into the car, so I traded it in for a 2005 GTO. Biggest mistake I could have made. I didn't consider the winter being so damn difficult (even though the guys on the forums of almost all RWD cars says 'Winter tires will make all the difference in the world!!!' -- Yeah right..when you've got 400hp under your ass..it's sorta hard to stay in a straight line). I also didn't consider the fact that I was paying $400+ a month for WHAT! A fast coupe. Big whoop. It had no trunk, it had no practicality, it had no versatility. It just did one thing really good - go fast as ******* hell. And I loved every second I was going fast. Then reality sets in, I can't go fast like that all the time because i'm going to racking up tickets like hell, lose my license, or my Life!

Thankfully enough, the car was gone due to lemon law (long LONG story). I thought, "well I want speed, but I want practicality" and thats when I leased the Trailblazer SS. It did everything my GTO didn't, and more. But it was a lease. I was spending $75 less a month, just to borrow it, rather than buy it and own it eventually. And buying the lease would mean I'd be financing this car for 8 total years (3 years lease, 5 year loan to finish off the remaining $20k). By then, it'd have a ton of miles and I might get rid of it eventually anyhow. So I sold the lease on swapalease.com.

I love everything my MS3 stands for in my eyes. It is the perfect solution to all my problems. It's quick, it's good on gas, good build quality, beautiful ammenities, might I add that I absolutely love boost?!? But I can toss two mountain bikes in the back, I can move 4 people comfortably with luggage, I can rest easy in the winter time (With winter tires of course!). I made enough wrong decisions to finally right them.

I must add that I never lost financially on the cars, other than my down payments. I never rolled a payment, never dug a deeper hole, other than restarting a new loan. I bought this car with the long term in mind, and with that being said, I want to take care of it for the long run.

Do I want a Cobb SRI, BPV, Exhaust, Wheels, OEM Navi setup, Dashhawk/Boost Gauge setup?!? Hell yes. But that s*** can wait. Because none of that helps me get back and forth to work any better, and none of that will matter if I were ever to break my leg and can't drive a manual car back and forth to work. (worst case scenario possible lol).

Another cool story, I was really interested in getting a mountain bike to ride outside with my gf. I hadn't rode a bike in the longest! I had shopped, and shopped, and shopped. If it's one thing i've learned to do (in a good/bad way), it's be indecisive and think things through thoroughly! I ended up debating so long, the sales ended on the bike I looked for. So I ended up scrapping the idea until I found another deal. 3 days ago, my mom went to her corporate picnic and won a raffle for a Men's 26" Magna Mountain Bike (retail cost $300)!!! It pays to be patient!!!!

All I can say guys, is think things through. Don't rush to be broke, you arn't impressing anyone, and don't put yourself through the anguish. Learn to think about the future and of course, the worst case scenario, and start building up some cash that you can call "emergency funds". I know so many people who'd love to cash in on the housing crisis but were too stupid to put cash aside for the past couple of years, they don't have the credit or the significant down payment to afford a beautiful home for so cheap. Plus, they've got $$$ in credit card debt.

I can say i'm thankful I had emergency funds, because I was able to loan my father start-up cash for rebuilding his credit and he's paying me back slowly. It feels so good to be able to do that, rather than shrug my shoulders and say "sorry dad...should have thought about that.." He had a body shop with a partner, and the partner basically screwed him over, so it put him in really bad shape with the debt (cost of the shop, tools, utilities, cost-of-doing-business) and eventually went out of business due to the catastrophic situation.

BTW..I don't mind taking advantage of your foolishness. If you're in a cash crunch, i'll give you $150 shipped for your used TWM Short Shifter. Saves me $75 off of a brand new one

 

[SleepyMSP]

I should read this again before I gear up to by my next mod...

 

[Rush]

SO true.

B and I talk constantly about how we have no pity for the people going through a mortgage crisis. It's their fault they got into the situation in the first place -- they bit off more than they could chew out of greed, and now the whole nation is suffering as a result. Awesome.

I've never understood how people can get themselves so far into debt. I go into panic mode if my ONE credit card (I refuse to have more than one) balance gets above a grand.

There has only been a single mod on my MSP that I've bought before I had all the money for it saved up. Every other mod had the money specifically set aside, AFTER all my other bills were paid. Of course, I've owned my MSP since it had 4 miles on the odometer in July of '03 -- so it's taken me five years to get to where I am, and I'm STILL not done.

Modding cars can be an addiction -- but use your brain to control your lust for parts, unless you want all those mods to vanish when you realize you're in over your head. ESPECIALLY since all those mods will vanish, and be sold for a FRACTION of what you paid for them in the first place. No matter what, you're in the hole.

People just have no patience and no concept of living reasonably. It's all about gimme-gimme-gimme.

 

[autoxes]

It's all about gimme-gimme-gimme.

Yeah, gimme-gimme-gimme those parts that people are selling to pay off their debt lmao.

I only parted out my Protege when I decided to get rid of it.

 

[Mikey444]

No mods on my cars, happy as is because anyways eventually every car will be traded for something else, so everything you put in is lost. A car is an endless money pit. Far from being an investment that some people think.

 

[TUNGSTENGREYWIDOW]

This is a great thread, but what you have to remember is you are preaching common sense. In this day and age common sense isn't common. People see all the glamorous things in the media and go way beyond their means. The sad part is people with kids are teaching them the same mistakes. So instead of having a new generation of thinkers and problem solvers, we will have a new generation of muck ups. Not fair for them nor us. The more muck ups, the higher the cost of things will be.

 

[SleepyMSP]

I have to admit right now I am learning this hard lesson, I decided to get the car, and had no intentions or money to start modding her...but the more time I spent either on the forum or just toying with the car I got bit by the bug....and now I'm just in trouble...though I was in a little trouble to begin with.

ironic how I read this and at the same time I myself am thinking "strip the parts, sell them, try to get back on track"

I just have to learn to save before buying

 

[Silver Ecstasy]

Not only learn how to save, but also learn to justify whether cetain things are worth it or not!

Most successful, wealthy people do NOT like to spend money. That's part of how they became successful. They spent wisely, they made important financial decisions, and they built up their capital.

Whether you spend $1000 in mods on your credit card, or with your hard-earned cash makes no difference. You're still out $1000. The point is to learn how to justify it. Set goals of how much you'd like to save AND spend. Say, if you said "I'm going to save $3,000 but allow myself to spend $500 as a treat." Then set a new goal and allow yourself a new allowance amount. You'll appreciate it 10x more, especially when you have to wait, debate on how important that product really is to have, then you cherish it like none other because you disciplined yourself and you EARNED IT!

But once you know what the feeling is like to have a good amount of cash, you won't let it go so easily. Trust me on that. When I had my old job and lived at home, $600 a month went into my savings account. Within the year, I had saved over $12,000 dollars (monthly savings + commissions checks). I'd toss around the idea of exhaust and gauges for my GTO but I was too anal at that point. Why lose $1k just for an exhaust? Why spend $500 on color-matching gauges when I have no other performance mods, and don't even know why i'm even monitoring it? You beat it to death and after a certain while, you either forget about it and save the money, or end up choosing one out of the two. Or two out of the four. It's all about compromise and discipline. But start slow, and set goals for yourself. Instead of setting a goal of what you want to BUY, set a goal of how much you can SAVE.

If there's one statement thats true in life: "There's always someone out there willing to take your money."

You have to consider the money spent as money lost. Don't count on re-cooperating any costs. Don't even de-mod because even after shipping, you'll be down in the dumps. Keep the mods, leave the past behind, and look forward.

 

[Scott]

I agree completely. Luckily I have saved up enough money to benefit from people who are wasteful. I just got a new house and have half-way furnished it with stuff from craigslist. A PC monitor for $10, set of Mikasa china for $12, microfiber couch for $50.

The key is to plan out your income and expenses as far ahead as you can. The more money you can set aside for "just in case", the better. For example, I decided to go back to school this year. The "just in case" money I had saved up is paying for my tuition in full, and leaving me plenty to keep in savings. I could have blown that on a fully built 1.8T for my Passat, but I don't NEED that like I need a proper education. The education will lead to a better job, and then I can buy a W8 Passat, and won't need to mess around with 1.8's.