How did you pay for your car?

[pbrown]

I've been getting the itch lately. I want to order my car but don't have all the funds.

I'd like to here how others have done this. Did you finance or pay cash? If it was financed, how?

[Brent]

I sold other toys to pay for it (race car, trailer, spare parts)

Do not want to make payments on a toy. Don't have any credit cards. It took 2 years to finish the Cobra and she was free and clear when she was done.

The Mustang will be the same way.

[pgermond]

Cash - same as Brent..... paid as I went along..... sold my first born (LOL)

[davebetts]

Try a home equity loan - at least it's tax deductable.

[Justin Upchurch]

I saved $1500 a month for three years and put the money in CDs so that I wouldn't spend it on something else. In fact I had to wait an extra week to pay Unique the balance while I waited for the due date of the last CD to mature. For myself I find that if I can write a large check without feeling guilty that I know I have made the correct choice without buyers remorse, which I have never felt about this purchase.

You can always buy the DPK, and start on that part of the kit, do the body work and paint and just worry about the motor and trans later. Or work in reverse.

I guess a home-equity lone is always an option for funding some of the car. At least you could use some of the dead equity in your home without a significant impact on monthly cash flow.

Justin

[pbrown]

I have the engine already. It's a 393 stroker. And I have 20K saved for the kit. I was going to buy the pallet kit and some wheels to get started.

Anyone want to buy my Caspian race gun and a Mini-14?

[weaver]

We have several customers that have gone the home equity route and just worked with a credit union on another. I try to make all big purchases with my equity line because the interest can be deducted. When you get time email me with details of what you want and I will work up a price, it looks like Phil won't be buying another anytime soon so I will give you his discount.

Alan

[dmswann]

Convinced my wife that the Cobra was an investment.....not a toy. Took money from a non-qualified investment account and used it to buy a used FIA turnkey from UNIQUE. I keep showing her how the price for UNIQUE cars keeps going up and she still thinks it's an investment.

Alan, Maurice, Jean.....please don't tell Betty otherwise!!!!!

[eliminator]

Sold a block of stock I had, so I guess I could say one investment to another.

The intresting thing was this was bank stock that later became Bank of America stock, so at the present time I am a fan of my Unique Cobra and not a fan of Bank of America and it's business policies. Glad I sold the stock when I did.

(many of you probably understand this, some don't)

[Brent]

Might be this??????


http://www.snopes.com/politics/immigration/bankofamerica.asp

[ralphscott]

Brent, BINGO!

I refuse to use their services or buy their stock.

Ralph

[will butterworth]

go there, and get me started.There is an old southern term that fits washington very well---take a pine top and a bucket of s--t and run them off.Total dereliction of duty by our leadership in washington.Will-alabama

[will butterworth]

some savings, sold cows, and a little from our friendly folks down at the bank, some stock,too.Throttle up a little and i forget about all that though.Will-alabama

[TurnpikeBoy]

I just simply sold the house. No problem paying for it at all.

OK, that's a half-truth. I took a home equity loan first; then sold the house. Wife is getting used to sleeping with an emergency brake handle jabbing her in the buns now. :)

Nah, we moved to a townhouse after selling. But now you know the rest of the story.....

[ralphscott]

Cash, from side projects.

Will, absolutely. Who the heck is supposed to be running this country the people or a bunch of self centered politicians.
Ralph

[Russ Dickey]

...OK, that's a half-truth. I took a home equity loan first; then sold the house. Wife is getting used to sleeping with an emergency brake handle jabbing her in the buns now. :)...

Turnpike:
I heard of guys naming their manhood, but "emergency brake handle" is the most creative yet..;)


Patrick:
I financed my car through Capital One Auto Finance. Was quick and easy and got a great interest rate (however this was back in '03).

I bought my car complete from it's first owner and builder, so like any standard car loan, the car becomes the collateral. I doubt they would have financed a kit. I am a guy who enjoys instant gratification, and I wanted my Cobra now. Building one would have taken me years.

But there are a few nice completed Uniques over on Cobra Country...

[TurnpikeBoy]

....I suppose it has been an emergency brake handle once or twice...as in, Stop Now, Moron, Or Else..... :(

And, yeah, I guess that didn't quite come across the way it was supposed to, huh? :)



Roger (screaming in...) Payne

[mbenoit]

I financed part through my insurance company against my car and part against my pay and put the rest on a credit card (USAA). The good news is I paid for all of it in about two years and the car is free and clear. I remember at the time, financing was a pain. Next challenge - insurance.