Interest Rates & Car Modifications

4GTuner

Help Support 4GTuner:

ENGINR

ENGINR

Wannabe Racer
Joined
Nov 6, 2005
Messages
5,061
Location
Melbourne
Just a question that's been floating around in my head lately - Are those of you who are paying off a mortgage found the interest rate rises have impacted on your car modification plans?

How are you guys balancing the "Need to keep my house but at the same time have a bit of fun in life and my car is part of that fun" situation?

I've definitely started holding off on purchasing new parts and only making 'necessary' updates (ie ECU tune for example to get car running properly) and started trying to do mods the smart way (ie find alternative means or even DIY).

I just hope I'm not alone in this situation!

How about if we started up a "How to save $$$ in your daily activities so you have the ability to keep modifying" thread? Do you guys think that would help?
 
well i don't own a house or mortgage, yet, but i still go the 'smarter' way of injecting money into a depreciating asset ie my car :lol:

ive found that 90% of performance upgrades can be bought second hand, that are still very good quality and a great price. the only hard part is looking for those things when you really need it.

i try to do as much as i can myself.

-alex
 
i fixed my loan at the start of the year at 8.19% so im not really feeling the pinch of the variable rate rises! however i have almost stopped modifying my car.. actually i probably have stopped cos its for sale. I have maxed out my 'free' additional repayments for this year on my fixed loan so im doing a 'ok'.

but yer i agree with the times that its getting very very hard to keep your head above the water and when it comes to cars, they arent cheap to maintain or even modify so you have to really think about it before you do things!

how to budget?

well i guess you start with the easy things:

1. make lunches and take to work
2. buy bulk cans of softdrinks and take them to work instead of buying
3. instead of driving alone, maybe jump in a car with a mate who you work with and put a lil bit towards petrol.

many good ways to save money!

Jon
 
Being on the variable rate it has in a way "Slowed" my progress down. Also doesnt help when your on one income for the time being and have done lots of stupid things in the past with money. like, spending shit loads of it :)


however, having said that. I purchase alot of parts via ebay, over seas and second hand. Why pay $250 for a new item when you can get a perfectly good working one for $100? Same thing goes for why pay $200 in australia when the same item can be had for $150 shipped from the US??
 
Yeah i have a Fixed rate for the next 3 years at 7.99% interest. Even paying that much is holding me back from buying the things i want.
 
evopwr said:
well i don't own a house or mortgage, yet, but i still go the 'smarter' way of injecting money into a depreciating asset ie my car :lol:
Click to expand...

Same here mate... here's to future planning!
 
I bought a house at the start of the year and repayments are like 2.5k p/m and I'm not even living in the house yet!!!

Car mod's, the good thing is that I dont have to spend much money on the car as its pretty much complete (hardware wise), the rest of the stuff doesn't really cost money, its more of a time thing due to me doing the work myself.

I'm now trying to save dosh to modify my house! Which I have been told to budget around another $150,000 or so... but with the house, you get back what you spend on the thing.... Cars on the other hand, forget about your hard earned cash ever returning....

But you only live once!! Just work harder and make more money
 
bazeng said:
I bought a house at the start of the year and repayments are like 2.5k p/m and I'm not even living in the house yet!!!

Car mod's, the good thing is that I dont have to spend much money on the car as its pretty much complete (hardware wise), the rest of the stuff doesn't really cost money, its more of a time thing due to me doing the work myself.

I'm now trying to save dosh to modify my house! Which I have been told to budget around another $150,000 or so... but with the house, you get back what you spend on the thing.... Cars on the other hand, forget about your hard earned cash ever returning....

But you only live once!! Just work harder and make more money
Click to expand...

Hehehe you dont modify a house.. you renovate :p

Also when renovating try not to over capitalise too much on it! ie.. spending 100k to make 120k.. sometimes its better to spend just 50k and let the wave take it higher.. theres a good article somewhere about what sort of cash percentage of house value you should spend in certain area's ie.. kitchen 3-10% house value etc..

Jon
 
hahahahaha.... ^^^^^ I agree there. I increased the mortgage a couple years back for home renovations and added an extra $5k to cover other things including the car :) Now i'm nearly finished the car but the Mrs keeps spending and spending on shit we dont need. She cracked the shits on Saturday that I bought 2 pairs of jeans and 2 work shirts (first time I bought myself clothes in 2 years I reckon).. I spent a measly $60 total lol :lol: and yet she pulls out new pj's, shoes, make up, bras, jackets, pink shit and fluffy shit everywhere (Oh but she bought it on special which is supposed to make it alright eh?) :lol: The increase in interest rates (I have haf locked and other half variable) has definitely taken some extra cash away from the car although I havent spent a cent on my car in 2 months.
 
yeah women mate i just don't get it. you tell them to stop using the credit card, and they think that it means only around you, lol. And i don't think they understand that even tho something is interest free for a million years, YOU STILL HAVE TO PAY FOR IT!!!!! :evil:
 
HAHAHA what a laugh!!! hehe
being a chick myself, i know what ur mrs are saying when they say "i bought it on special" lmao i do tha same to my man. lol i tell him to stop spending so i can spend more.....hahaha, mind u thats stopping slowly cause we r saving for a niiiiice deposit.....lol i found that funny...girls all think similarly....

but just rememember...bras, makeup, shoes it kinda comes with women...

bras...well thats a necessaty, imagine all the saggy boobs without bras...

shoes....well u dont want us walking around bare foot when u take us out do u? lol

makeup....well thats what enhances the features we have so we look beautifull on a night out....

lol
emz
 
She can walk around in a garbage bag if it means i can get a Motec Dash or a se of takata harnesses....

Shit i said that out aloud
LoL








Just joking ladies u know i luv ya 8)
 
OFFON-4 said:
She can walk around in a garbage bag if it means i can get a Motec Dash or a se of takata harnesses....

Shit i said that out aloud
LoL








Just joking ladies u know i luv ya 8)
Click to expand...

shit man garbage bags? why not let her strut her stuff for the whole world to see what your getting ;)

Jon
 

Similar threads

morechunch
Hello all
Replies
1
Views
2K
4piknup
4piknup
ENGINR
Single Scroll vs Twin Scroll Turbine Housing - Dyno Comparison
Replies
10
Views
4K
evo-gsr
evo-gsr
Bodman456
Boden's RVR HSGR
2 3 4
Replies
79
Views
13K
jengi
J
grndsm
International Facebook Presence
Replies
8
Views
1K
Benzo4gT
Benzo4gT
I
83/84 KE70 corolla
Replies
2
Views
1K
Ian91
I

Latest posts

Back
Top