Anyone doing Carlisle this spring? P&S and/or Import & Kit Nationals?

dmhenderson

I will hold onto this insurance like grim motherf'ing death. They are amazing. They pre-negotiate my car buying prices, help me haggle my loan rates, provide me with credit when I need it and do pretty much anything else I've ever wanted. I mean, I understand that the car buying program is really for military wives whose husbands are deployed but walking into a dealership with a pre-guaranteed price after you've done your research is a really nasty trump card.

They tried to give me a boat loan a while back even though I didn't ask for it o_O

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dmhenderson

The ONLY way you'll end up paying less in the long run is if you get a lower rate over the same period of time. If that's not the case, you're getting scammed.
Tell you what, run the numbers yourself:

1) Take your original loan with original payment amount and run it for the course of the lien - pay special attention to the time it takes to pay it off. Now add up the interest payments you're making vs principle.

2) Now take the re-fi lower payment and run it for the course of the lien and do the interest vs principle thing again.

I would be shocked if 2) was less than 1)

****DO NOT FORGET THE MONEY YOU HAVE ALREADY PAID INTO YOUR ORIGINAL LOAN (excluding down payment)***
If you really want to save yourself money, make extra car payments and pay it off early.

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MyKindaGuise

OK.

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|445whp398tq|
|BW S259 Turbo|3" Downpipe\Exhaust|ID1000|AeroMotive|Tial|EcuTek|BC BR|S0-4|MaffFab|
MKGs-Single-Turbo

dmhenderson

Car/boat/RV refis are a racket and you will end up getting boned. I'm not trying to be a killjoy but do your research without the bank's input. If it makes sense to you, by all means.

Just trying to help :/

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XwChriswX

DM, have you made any progress on your board for your cars stats... I've never done a judged show before, so I dunno what is/is not required, or what I should do about that?

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Bonnie - Stage 2, Audio build coming this fall!
R.I.P. Abby 3/29/10 - 3/30/14

dmhenderson

Show boards aren't required but I'd recommend one. I'm going to let my (ohgodhelpme) still-girlfriend do mine for this year at least. Mostly because I bought her a really f'ing nice camera for christmas and I'll be damned if I'm not gonna get something out of it.

Other than that? Clay, wax and glaze the car prior to the show. Bring a bottle of detail spray with you to clean the wheels once you arrive if you're not using a trailer. You'll also probably want a lawn chair and a tent because you'll be sitting in the sun for 6-10 hrs while people wander by and ask questions.

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XwChriswX

Would it be a hassle (helping the competition ) to let me see yours prior to the show to know the basic premise?

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Bonnie - Stage 2, Audio build coming this fall!
R.I.P. Abby 3/29/10 - 3/30/14

dmhenderson

I mean think about home refis. You do it because A) you get a better interest rate at the cost of a longer loan term B) You're going to lose your home and are willing to take a long-term loss to save your investment or C) You need to free up equity.

Now think about this in terms of a vehicle. The bank will tell you they get nothing out of it but how does that make sense?

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MyKindaGuise

Well I came up with the numbers I did before contacting them. They came up with about the same thing. It was a little different because of hidden fees but still looked positive. I'll talk to a 3rd party to make sure I'm not getting shafted. Its not even like my payment is too much I was just simply going to do it because on paper it works out better for me. Seriously I'm glad your looking out for me. I'll look into this a bit more because I hate throwing money away especially if that's all this will do.

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|445whp398tq|
|BW S259 Turbo|3" Downpipe\Exhaust|ID1000|AeroMotive|Tial|EcuTek|BC BR|S0-4|MaffFab|
MKGs-Single-Turbo

aniceh

There's no way they get nothing out of it, but if you go to a new bank who can now borrow funds at a lower rate due to the Fed, they'll get something out of it, you might get something out of it, there's pretty much never a prepayment penalty on auto loans, everyone wins except the bank you left. Banks are perfectly willing to screw one another to get your business.

MyKindaGuise

All of the screwing in America!

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|445whp398tq|
|BW S259 Turbo|3" Downpipe\Exhaust|ID1000|AeroMotive|Tial|EcuTek|BC BR|S0-4|MaffFab|
MKGs-Single-Turbo

dmhenderson

Right which brings me back to: "If you get a better loan rate over the same time period, then you're ok."

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aniceh

Exactly. Go to a lower rate 3 year loan when you're 2 years into a 5 year, win. You just gotta consider that along with all the other factors that go into the decision to purchase a car.

MyKindaGuise

That's what I'm doing.

I'm going with a lower 5 year as I'm 1 year into my 6 year and Apr goes from 5% to 2.5%


Unless I are mathing wrong. Which is totally possible.lol

Also the new car really has nothing to do with lower payments it was just something that would be the case if I went that route.lol

I'm mostly looking at the new car because it'll hold 700hp with not much problem.


Only reason i m thinking of refinancing is to save me some money. I mean hell why not. Its nothing to do with lower payments I just thought it would save me something by doing it. If it really doesn't please tell me.lol

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|445whp398tq|
|BW S259 Turbo|3" Downpipe\Exhaust|ID1000|AeroMotive|Tial|EcuTek|BC BR|S0-4|MaffFab|
MKGs-Single-Turbo

MyKindaGuise

I said it a month ago and I'll say it again. I'm pretty sure DM has this shoe in the bag. Last year there was only 1 Z entry and he blows that one out of the park.

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|445whp398tq|
|BW S259 Turbo|3" Downpipe\Exhaust|ID1000|AeroMotive|Tial|EcuTek|BC BR|S0-4|MaffFab|
MKGs-Single-Turbo