How do people afford...

ZKindaGuy

Given the younger age bracket of most tuners I am certain they don't pay for it up front. And if they do its only because mommy and daddy are somehow helping them with most of the basic necessities such as food, rent, insurance, school and etc.

I also doubt that the majority of that same age bracket is saving up the money to pay for it because though they may be saving the money up for the modifications they are surely running up their credit cards on other thiongs they would normally use cash to pay for.

As for the older segments if they are modding it more than likely is by saving up and doing a little here and a little there though blower and turbo mods are realy not possible that way due to the repeated tuning costs that add up when doing it piecemeal. More than likely they are using their credit power to make the mods and then robbing Peter to pay Paul for 3 or 4 years to pay it off. And by that time they have spent enough on interest to have done the mods twice over.

I doubt if loans are being taken unless it is done against their retirement 401K investments. No bank is going to loan money on an asset that is viewed by them as a liability rather than an asset. Particularly after the wall-stree and bank debacle era we just experienced last year.

So I would say 99% of those doing the high-cost mods are borrowing out their azz in some fashion and ther other 1% can actually afford it without a problem.

And anyone who claims they can easily make such mods are just plain lying out the ying-yang.

qnsblvd

Then when you get in over your head, just declare bankruptcy and start over. Nowadays, I'd be real surprised if banks were tripping over themselves to hand out $15,000 unsecured personal loans and if they do, the rates are 15-20%. Just pay cash. Or put it on your card, get the points, and pay the balance off in full at the end of the month.

hellogoodbye

day trading yes. portfolio is newhere from 110-115k atm.

ok these r the stocks i bought and sold and the times that i bought and sold from the 18th to the 19th
LNC - buy - 12:33 pm 6143 shares @ 15.95 = 97,980.85 jun 18th
LNC - sell - 1:42 pm 6143 shares @ 15.99 = 98,226.57 jun 18th
WFC - buy - 10:18 am 1682 shares @ 23.66 = 39,819.78 jun 18th
WFC - buy - 10:23 am 2451 shares @ 23.62 = 57,892.62 jun 18th
WFC - sell - 11:23 am 4134 shares @ 23.74 = 98,141.16 jun 18th
CCL - buy - 11:28 am 3920 shares @ 25.08 = 98,313.60 jun 18th
CCL - sell - 12:33 pm 3920 shares @ 25.09 = 98,353.80 jun 18th
MSFT - buy - 9:40 am 2475 shares @ 23.51 = 58,187.25 jun 18th
MSFT - sell - 10:23 am 2475 shares @ 23.47 = 58,088.25 jun 18th
MSFT - buy - 10:11 am 4232 shares @ 24.17 = 102,287.44 jun 19th
MSFT - sell - 11:23 am 4196 shares @ 24.23 = 101,669.08 jun 19th
MSFT - sell - 11:43 am 36 shares @ 24.17 = 870.12 jun 19th
SIRI - buy - 9:40 am 101881 shares @ .41 = 41,771.21 jun 18th
SIRI - sell - 10:10 am 101881 shares @ .39 = 39,733.59 jun 18th
CI - buy - 3:23 pm 4167 shares @ 23.65 = 98,549.55 jun 18th
CI - sell - 9:58 am 4167 shares @ 24.92 = 103,841.64 jun 19th
KMX - buy - 11:28 am 6847 shares @ 14.96 = 102,431.12 jun 19th
KMX - sell - 11:43 am 6847 shares @ 14.89 = 101,951.83



yes ive seen that before, but unless i have a seriously bad trade and my 100k+ drops to like 10-20k i wont have to sell this car

also im paying out of state tuition at tx state, insurance, food, credit cards, and well everything else.
oh and car was paid for in cash so theres no monthly payments on that

EDIT:
Im currently in school to get my MBA so i doubt id ever work for walmart or any fast food place. also im making great money with the stocks (for now) so i might not need a fulltime job. its not guranteed but im making 5-20k a month (yes i have losses but overall im + every month) and the more money i make the more i can invest with so i make more. so maybe ill get a job to keep me busy but for now im gonna keep doing stocks til it doesnt work nemore

Roo

I call BS on your $5-29k a month. how about a screenshot of your portfolio?

hellogoodbye

scroll up and look at my trades from the 18th an 19th of june. do the math i made 5k profit on a single trade idr what my net gain was but trust me, day trading can make you lots. and i think u mean 5-20k. also if you dont believe me idc this thread isnt about me making money. i was asking a simple ? to get some advice which i got so maybe a mod should just lock this thread now

Roo

Because if you were making $5-20k a month you wouldn't be asking if you should finance $12k worth of mods at 13%.

hellogoodbye

once again thats not what im asking... i asked what most people do. also i would like an opinion b/c i use my money to day trade. if i payed it off outright id have less to use which means id make less. that would be the advantage of a loan in my case.

can u plz just stop posting on this thread? ur not answering the question which is the point of this thread ur simply being an annoyance.

Roo

So how much did you start with in your portfolio? How did you acquire this money?

Robert_Nash

Well...it's not that I don't believe you but I'd at least practice those phrases now and then.

Good luck...I think you'll need it.

__________________
Robert
-My Basset Hound Is Smarter Than Your Honor Student and Barack Obama -