i figure i should let you know that the expression is:
"to each, his own"

 

misinformation. if you do not pay a credit card balance in FULL, you WILL be paying MORE than what the actual parts cost you. the only exception is if you have a 0% apr or balance transfer going but i doubt that's the case.

 

bad idea...save your money first, and even then you shouldnt spend it and keep saving.

 

You really wanna know why doing this is a bad idea? Get to know this Guy...

www.daveramsey.com

He'll break it all down for you, especailly being a college student.

 

Yeah, don't do it. Credit cars thrive on kids (college age) that max out their credit cards because they are broke. Unless you can affirmatively say that you can put reasonably sized payments on your credit car once you put your wheels on it every month, I wouldn't do it.

 

3.0 GPA is mediocre. Stop thinking about wheels and focus back on your school work. If you want the wheels that bad, save up the money and buy them CASH! focus on what really matters FIRST.

 

looks like u will juts sink, save up first then buy the wheels, get what u have to right now to get u buy

sry to say this but are u juts working for ur car, or do u make enogh money to have fun also =0/

 

I was in your same situation Oh about 8 years ago when I was 18.
Here's is the deal I went out and bought stuff for my civic hatchback on credit and stated the same thing, "don't worry I'll pay it off." that is what the credit card companies want you to think this. By the time you actually get around to paying this off, it will be 3-4 years later and you will have ended up paying 3 or 4 times the original amount of the mod. Credit cards are good to have but only to use on gas, and pay off the full amount at the end of the month.

Or if you want to use them to build credit. buy gas or food with them so you are using them. pay 80% of the card at the end of the month, do that for 6 months, then at the end of the 6 months pay the full amount. do that every 6 months and you will be able to build your credit.

But truely the best way is to buy cars and pay them off, since its a big debt. I have like 3-4 cars paid off on my credit, my score is about 765 right now.


BUT back to the original post. DON'T do mods on credit. When it comes to mods. IF YOU DON"T HAVE THE CASH, THEN YOU DON"T DO IT.

 

Save Your Money!

 

Amen.

Good decision!

 

Sounds like you just need a little self control. If you can't pay off the bill in its entirety at the end of the month you are just throwing away money pretty much. Why pay more than they are worth? You can put all the money you would have spent on finance charges towards other mods. Seems like a no brainer to me.

From what I can tell, your only argument on why its a good idea is that you "really want" them and you are able to make the payments. Just because you can doesnt mean you should.

 

There are tooooooo many variable people. I think we can all agree that for 90% of people it's a HORRIBLE idea. And the bad idea is to use it on mods which you prob won't recoupe any money. In college, grad may06, i spent things on cards with 0% and 2.9 or 3.9% apr's I did this with the intentions of making BANK. I started at 31.5k and 3 months later am at 48k (new job in my field). I don't know if that's good but i would like more. So with that said if you think you have the discipline to live 'lavish' now and maybe cut it out after college try, but we don't know you.

I told myself i would buy some needed and unneeded things and then cut it out after college. To the most part after college i've slowed down, but if you can budget yourself and have a plan then you are set. Remember to have an emergency route if needed.

Let's just say i put a kink in my plans and now have to allocate 4k to it. It doesnt really change anything but it means i won't be putting it to other things. I was thinking rims and z1 whcih i SHOUDLNT do but what ive just done gives me more reason not to. Honestly one way or another i feel you will find some way to "blow" the money

 

^^^ Also i just did a quick calc if you locked up 10k in debt at 3.9 adn told yourself youd pay in 48 months at 225/month. You will pay finance of 1100. I personally feel that 1100 is nothing. I think a lot of you have spent that in mods and i know all of us could blow it in one small trip someplaces

 

this explains a lot lol!!

 

focus back on your school work and get on the deans list
listen to these guys ALL advising you not to, im sure if you save up for a little youll be able to afford them cash and not have to use the credit card

i would recommend against it