Anyone ever finance a swap?

[Repo Man]

So I got another one of those pre-approved credit card apps in the mail last night. It got me to thinking, "Wow, I could pull off a swap and put it on the credit card!" Hell, I pay bills all the freakin' time anyway, what's one more?

Has anyone done this? Did you regret it?

I tore up the app and tossed it. Maybe I should paste it back together.

[AZhitman]

Good move on your part. Remember that cars are a BAD investment.

I have fully restored two antique cars (both had some solid historical value) and BOTH were sold for losses. Consider this: A $6,000 240 with $5000 in mods won't be worth $11,000. Sometimes a stocker is actually worth MORE to the informed buyer.

Just fix it up the way you want, for the least $$ possible. Also remember that your mods aren't insured, so if your car is totalled, you'll get book value for it.

[Repo Man]

Good move on your part. Remember that cars are a BAD investment.

I have fully restored two antique cars (both had some solid historical value) and BOTH were sold for losses. Consider this: A $6,000 240 with $5000 in mods won't be worth $11,000. Sometimes a stocker is actually worth MORE to the informed buyer.

Just fix it up the way you want, for the least $$ possible. Also remember that your mods aren't insured, so if your car is totalled, you'll get book value for it.

Ah yes, Hitman, the voice of reason and maturity. I appreciate that because I have been somewhat one step short of obsessed with more power in my car. I guess I should just chill until I have a surplus of cash. Or until my current engine gives out.

I pretty much lost my a$$ on my Buick with what I put into it. Could have been worse though.

[Cold_Zero]

I guess I should just chill until I have a surplus of cash. Or until my current engine gives out.

Do you need help with that? :chef

I pretty much lost my a$$ on my Buick with what I put into it. Could have been worse though.

Remember, you sold your Comaro, bought your 240 and had cash left over.

Bud :pface

[ninjak84]

Haha, I too believe credit cards are the devil....:firedevil

[Cold_Zero]

Crack and Credit are addictive.

[wingzero]

I tried getting a loan from the bank at my college for about $2500 for the swap, they only charged like 5% interest as opposed to the 15% my bank would've charged me, really got me thinking.....

[jemil118]

Also remember that your mods aren't insured, so if your car is totalled, you'll get book value for it.

That isn't totally true. You can have your car insured underneath a special coverage that is made specifically for kit cars/ show cars/ highly modded cars. Basically you stated it's value(you have to have reciepts for everything), you have to have other cars on coverage(to prove that this isn't your daily driver). Also the rates will be extremely high because the chance for it being stolen is much higher and of course the cost of the parts in case it is wrecked.I checked w/ my local Allstate insurer for all this usefull info

[AZhitman]

True - But it's gonna be hard to convince them of the inflated value of a 10-year old 240...