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

aniceh · 04-02-2013, 11:32 PM

Quote:

Originally Posted by 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?

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 · 04-02-2013, 11:32 PM

Quote:

Originally Posted by XwChriswX

You're not throwing away just money, time, research, labor, all of the things you've done/plan to do to your car will be tossed aside. For what? $50 lower payment, not worth it imo...

Just finish boosting it and you'll be so happy you won't even care about how much you pay for it.

I have more done then just those 3 things.

Chris were talking two different scenarios homie haha. If I went with the 135 it'd be a major change. And yes I know I'm probably going to boost it still. Just brain storming and being restless that I can't work on my car haha.

And I know you have a lot done I was naming the big 3 things you have over DM

MyKindaGuise · 04-02-2013, 11:34 PM

Quote:

Originally Posted by 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.

All of the screwing in America!

dmhenderson · 04-02-2013, 11:34 PM

Nothing on my car is a surprise to anyone here I don't think. Pretty sure everyone's seen it at this point. Odds are by the time carlisle rolls around I will have the V2 dual halos in with an outside shot at the nismo RC NACA ducts/z1 brake lines but I'm at the mercy of Nissan and various race teams for that.

dmhenderson · 04-02-2013, 11:35 PM

Quote:

Originally Posted by 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.

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

XwChriswX · 04-02-2013, 11:36 PM

Quote:

Originally Posted by MyKindaGuise

Chris were talking two different scenarios homie haha. If I went with the 135 it'd be a major change. And yes I know I'm probably going to boost it still. Just brain storming and being restless that I can't work on my car haha.

And I know you have a lot done I was naming the big 3 things you have over DM

Why can't you work on your car now?

No worries, we actually did a quick list of our mods, and for the most part we're side by side the same car. The only real "major" difference is his is a Nismo vs my Base + Sport Package. So that's really what it will come down to.

To be honest, if we can have a Z only category and no riced out 350Z shows up, I see us taking 1st/2nd. Which will be okay with me.

aniceh · 04-02-2013, 11:36 PM

Quote:

Originally Posted by dmhenderson

Lowering payments by extending the loan 1+ years. You are letting the lender take your future income for free and they don't even have to lift a finger.

Don't ever, ever do this unless you're going to like...lose your car.

I agree 100%, I'm just trying to help compare apples to apples. If you take your current car and trade it in on another car, you will finance the difference between the trade in value and the purchase price over the life of a typical auto loan, 5 years. If part of the decision-making process in a new car purchase is the loan payments, I think it's wise to examine how much of that payment decrease is simply due to extending the term. I'm not trying to pass judgement or push for a certain outcome, just trying to help with the analysis.

aniceh · 04-02-2013, 11:37 PM

Quote:

Originally Posted by dmhenderson

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

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.

aniceh · 04-02-2013, 11:39 PM

Quote:

Originally Posted by dmhenderson

Nothing on my car is a surprise to anyone here I don't think. Pretty sure everyone's seen it at this point. Odds are by the time carlisle rolls around I will have the V2 dual halos in with an outside shot at the nismo RC NACA ducts/z1 brake lines but I'm at the mercy of Nissan and various race teams for that.

It's purty.

dmhenderson · 04-02-2013, 11:41 PM

Quote:

Originally Posted by XwChriswX

Why can't you work on your car now?

No worries, we actually did a quick list of our mods, and for the most part we're side by side the same car. The only real "major" difference is his is a Nismo vs my Base + Sport Package. So that's really what it will come down to.

To be honest, if we can have a Z only category and no riced out 350Z shows up, I see us taking 1st/2nd. Which will be okay with me.

My headlights and wheels are unique or at least, different.

I'm not lowered (at all) and don't have much in the way of suspension mods unless you count my H&R spacers lol

dmhenderson · 04-02-2013, 11:41 PM

Quote:

Originally Posted by aniceh

It's purty.

:3

MyKindaGuise · 04-02-2013, 11:42 PM

[QUOTE=XwChriswX;2248047]Why can't you work on your car now?

/QUOTE]

Its part of what I was saying above. I'm doing some other finance crap that is more important right now thatll pay off huge in a few years so instead of dumping 2-4k Intl the Z its going into other things for the next few months.

dmhenderson · 04-02-2013, 11:42 PM

Quote:

Originally Posted by aniceh

I agree 100%, I'm just trying to help compare apples to apples. If you take your current car and trade it in on another car, you will finance the difference between the trade in value and the purchase price over the life of a typical auto loan, 5 years. If part of the decision-making process in a new car purchase is the loan payments, I think it's wise to examine how much of that payment decrease is simply due to extending the term. I'm not trying to pass judgement or push for a certain outcome, just trying to help with the analysis.

This is correct.

MyKindaGuise · 04-02-2013, 11:44 PM

Quote:

Originally Posted by 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.

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

dmhenderson · 04-02-2013, 11:46 PM

oh OH! You're going from a 6 to a 5? I thought you were going from a 5 to a 6. As long as you're ok with higher payments, you will save money over time. If you've been making extra payments, this may not be a factor at all which makes sense.

Auto loans have a huge APR jump from 5-6 years (oddly enough, not from 3-5 though). Your payments will be higher over 5 years but the interest payments will be much less.

04-02-2013, 11:34 PM	#469 (permalink)
dmhenderson A True Z Fanatic Join Date: Feb 2011 Location: Maryland Posts: 5,930 Drives: AWD TT 370z Rep Power: 26	Nothing on my car is a surprise to anyone here I don't think. Pretty sure everyone's seen it at this point. Odds are by the time carlisle rolls around I will have the V2 dual halos in with an outside shot at the nismo RC NACA ducts/z1 brake lines but I'm at the mercy of Nissan and various race teams for that. __________________

04-02-2013, 11:42 PM	#477 (permalink)
MyKindaGuise A True Z Fanatic Join Date: Feb 2012 Location: Pennsylvania Posts: 2,029 Drives: 11' 370z Sprt M6 Rep Power: 19	[QUOTE=XwChriswX;2248047]Why can't you work on your car now? /QUOTE] Its part of what I was saying above. I'm doing some other finance crap that is more important right now thatll pay off huge in a few years so instead of dumping 2-4k Intl the Z its going into other things for the next few months. __________________ \|445whp398tq\| \|BW S259 Turbo\|3" Downpipe\Exhaust\|ID1000\|AeroMotive\|Tial\|EcuTek\|BC BR\|S0-4\|MaffFab\| MKGs-Single-Turbo

04-02-2013, 11:46 PM	#480 (permalink)
dmhenderson A True Z Fanatic Join Date: Feb 2011 Location: Maryland Posts: 5,930 Drives: AWD TT 370z Rep Power: 26	oh OH! You're going from a 6 to a 5? I thought you were going from a 5 to a 6. As long as you're ok with higher payments, you will save money over time. If you've been making extra payments, this may not be a factor at all which makes sense. Auto loans have a huge APR jump from 5-6 years (oddly enough, not from 3-5 though). Your payments will be higher over 5 years but the interest payments will be much less. __________________

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