troublemaker
Member
i think if the companys that made turbo kits offering financing they sell more kits because is easy for more people, not everybody have $4000 to spend
turbo kit financing ?
- Thread starter troublemaker
- Start date
CruzinAltitude
Member
- :
- 02 MP5
That is a damn good point, plus the stand to make profit on the interest. Troublemaker, you now have purpose to your life, go forth and email Spool, Hi-boost, flying miata, ect. and make your brilliant plan know! I know I would be one of the first people in line!
CruzinAltitude
Member
- :
- 02 MP5
No one else has thoughts on this? I thought all the piss poor mo-fo's like me (divorce is my excuse) would chime in on what a great idea this is.
CruzinAltitude
Member
- :
- 02 MP5
I would think you are more likely to get the financing necessary from the comapny rather than a loan from the bank with no true collateral.
andy_guerriero
Member
- :
- 2003 Protege5
If you can't save up for it, you can't afford it and don't need it, in my opinion. Start a turbo savings account and buy one when you have the cash. Take all the money you would have been paying in interest and buy some more parts.
DooMer_MP3
Member
At first it sounds like a good idea, but if you can't afford a turbo in the first place, you shouldn't really buy it. What happens if you lose an engine? Take out more loans for a new engine? Its just a financial mess. Seems to me like if you're getting a turbo, you should have some extra cash laying around for the things that might go wrong.
Chris
Chris
^^Yep.
It is a concern you have to take into consideration when buying a turbo. The kits are nicely built and overall you shouldn't have a problem, but you are still doing a major mod to a stock motor. There is always a chance something will happen.
And if you aren't in the position to buy the kit right out, then you may not be ready for any repairs.
Save, it is a good lesson in life.
It is a concern you have to take into consideration when buying a turbo. The kits are nicely built and overall you shouldn't have a problem, but you are still doing a major mod to a stock motor. There is always a chance something will happen.
And if you aren't in the position to buy the kit right out, then you may not be ready for any repairs.
Save, it is a good lesson in life.
troublemaker
Member
its not the same buy a turbo kit or a motor the turbo $4000 the motor $600 or $700 and the financing is good because you get the turbo right now its not same to save money all the month for one year
Cause 2 years down the road you will be like, "damm, still paying for this thing and my motor is blown". 
Almost the same when you factor in cost to put the engine in unless you plan on doing it yourself. Plus the down time of the car if it is your only mode of transport.
I do think it would be nice to be able to finance a turbo kit, but just take other things into consideration. And in the long run saving would be better.
Think of it in this respect. If you car died tommorrow and insurance in no way was going to dish out money for it or come close to what you owe. You would still be making payments to Mazda for it even though the car isn't there. Would kinda of suck. (Which is one reason the GAP protection is kinda of worth it, plus many dealers give it away extremely cheap)
I dunno I just like saving, it spares you the chance of missing payments or not being able to make them. Which will hurt your credit, plus having to many loans and credit cards will also hurt it. And that can take alot of time to fully repair.
I do think it would be nice to be able to finance a turbo kit, but just take other things into consideration. And in the long run saving would be better.
Think of it in this respect. If you car died tommorrow and insurance in no way was going to dish out money for it or come close to what you owe. You would still be making payments to Mazda for it even though the car isn't there. Would kinda of suck. (Which is one reason the GAP protection is kinda of worth it, plus many dealers give it away extremely cheap)
I dunno I just like saving, it spares you the chance of missing payments or not being able to make them. Which will hurt your credit, plus having to many loans and credit cards will also hurt it. And that can take alot of time to fully repair.
No, I disagree - my own personal finances not withstanding.
But instead of going into the semantics of it, I'll pose a question.
Would you be willing to pay between 13%-27% Simple interest on $4000. That is between $4520-$5080.
Break that up monthly.
12mo's@376.67(13%) 423.34(27%)
18mo's@236.12(13%) 282.23(27%)
24mo's@177.09(13%) 211.67(27%)
I realize that 13%-27% might sound high, but realize that to set up auxilliary financing through a creditor the prices are not cheap. I just sent an email to a friend of mine who owns www.iccicorp.com, he offers financing. When he writes back and lets me know what his percentage rates are set at, I'll post it here.
It might be a viable solution, but I doubt it.
Also, I would suppose that the people who are looking for financing, are unable to use their current credit cards to make the purchase - otherwise they would. Which is more of a reason to back up the higher interest rate. Department stores base their in house credit cards on this very idea. Not to mention that most of the people on this forum either:
A) have a car payment.
B) have mommy and daddy to thank
C) don't need financing because they can either pay for it cash, or use a credit card.
"The prince of tides is neither about princes nor tides, discuss among yourselves" - Coffee Talk
But instead of going into the semantics of it, I'll pose a question.
Would you be willing to pay between 13%-27% Simple interest on $4000. That is between $4520-$5080.
Break that up monthly.
12mo's@376.67(13%) 423.34(27%)
18mo's@236.12(13%) 282.23(27%)
24mo's@177.09(13%) 211.67(27%)
I realize that 13%-27% might sound high, but realize that to set up auxilliary financing through a creditor the prices are not cheap. I just sent an email to a friend of mine who owns www.iccicorp.com, he offers financing. When he writes back and lets me know what his percentage rates are set at, I'll post it here.
It might be a viable solution, but I doubt it.
Also, I would suppose that the people who are looking for financing, are unable to use their current credit cards to make the purchase - otherwise they would. Which is more of a reason to back up the higher interest rate. Department stores base their in house credit cards on this very idea. Not to mention that most of the people on this forum either:
A) have a car payment.
B) have mommy and daddy to thank
C) don't need financing because they can either pay for it cash, or use a credit card.
"The prince of tides is neither about princes nor tides, discuss among yourselves" - Coffee Talk
Micah,
Paid for my turbo kit with cash. I'm 23, got a car payment that mommy and daddy didn't help me with, saved my pennies and voila, paid for my turbo kit. It's a big investment with a s*** load of potential major problems. I saved up enough for all of my gauges(egt, A/F, and boost) installation of all this s***, and enough to fix the motorshould it take a crap. Your opening the door to a whole new world of potentially bad things, trust me, save your pennies. If you really need the money, how bout that 29% rate, payable in one year...... lol
Paid for my turbo kit with cash. I'm 23, got a car payment that mommy and daddy didn't help me with, saved my pennies and voila, paid for my turbo kit. It's a big investment with a s*** load of potential major problems. I saved up enough for all of my gauges(egt, A/F, and boost) installation of all this s***, and enough to fix the motorshould it take a crap. Your opening the door to a whole new world of potentially bad things, trust me, save your pennies. If you really need the money, how bout that 29% rate, payable in one year...... lol
I guess you read the post I made wrong. My kit is paid for. My tuning and dyno time is paid for also. However, I still haven't figured out what gauges I want, definitely Autometer Phantom series. I'm leaning towards "Boost 0-20psi", "Air/Fuel", "Transmission Temp", and maybe "Voltage". Nick has come up with a pretty trick way to mount the gauges in his car, but we still need to pick up some parts to do it. For my own car I'm either going to just buy a full pillar triple gauge pod from Jegs, and the steering wheel mount pod from protege5online - or, I was thinking of cutting into the bottom of the dash under the stock gauge cluster and just mounting the gauges 3/4 sunk tilted up towards me. As much as I like the stock look the second option would provide, I'm not big on cutting into my car. I'll probably just use the first option.
Anyway, back to my original point.
I was trying to stress to people the same point you were trying to make. Turbocharging a car is a major change, and potentially could lead to major problems. If someone can't afford the kit, then they won't be able to afford the potential problems that can arise.
I saw one person tried reasoning that a new engine was only $700. Unless they intend to do the labor themselves, - it's going to cost alot more than that.
Anyway, back to my original point.
I was trying to stress to people the same point you were trying to make. Turbocharging a car is a major change, and potentially could lead to major problems. If someone can't afford the kit, then they won't be able to afford the potential problems that can arise.
I saw one person tried reasoning that a new engine was only $700. Unless they intend to do the labor themselves, - it's going to cost alot more than that.
mikem said:
I figured your kit was paid for. I was simply just asking how your were paying for the kit because some people b**** about not staying on topic. I basically just threw that in for s**** and grins.
What I REALLY wanted to know is how your install is going. I thought your car would be done by now. What's the status with everything? The reason why I am curious is because I too hav ethe auto and am trying to figure out how his kit is with your car (dyno reults, pics, install, etc)
What I REALLY wanted to know is how your install is going. I thought your car would be done by now. What's the status with everything? The reason why I am curious is because I too hav ethe auto and am trying to figure out how his kit is with your car (dyno reults, pics, install, etc)
The turbo came yesterday, the Intercooler and manifold should be arriving tommorrow.
Installed on Sunday or Monday, Dyno tuning for the rest of the week. Gonna try to learn how it's done, so Nick is going to explain everything to me, as we do it. This way I will get to learn about how everything works. I'm a knowledge freak, I like knowing every little detail about completely anything I can think of.
Installed on Sunday or Monday, Dyno tuning for the rest of the week. Gonna try to learn how it's done, so Nick is going to explain everything to me, as we do it. This way I will get to learn about how everything works. I'm a knowledge freak, I like knowing every little detail about completely anything I can think of.
yea definetly..im looking into boost right now, I mean i've had this protege for 2 months now..i didnt plan on going boost so i didnt save up..i think we're all just worried that if we dont get it done now..we never will..financing is definetly a great idea..
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