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      05-02-2013, 11:10 AM   #23
Alex07M3
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my position is I owe nothing on mine. everyone's financial position is different. you cannot take the money with you, but make sure you have some to retire. if your retirement plan is not well past 7 figures, it is too small.
I don't see the financial difference between paying the car before buying the s/c or buying the s/c after the car is paid but I see a big difference in having the s/c right now instead of in 3 years!! Carpe diem my friend!!
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      05-02-2013, 11:17 AM   #24
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ess stage 1 kit and put rest into paying off car
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      05-02-2013, 11:36 AM   #25
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What is the interest rate on the loan? If you are beyond the 50% mark most of your payment is going towards principal not interest like the beginning of the loan. If you were fresh into the amortization of the loan I would say pay down the loan. It would save a lot of money as you have now accelerated the amortization schedule.

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      05-02-2013, 11:38 AM   #26
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Quote:
Originally Posted by Andrew@ActiveAutowerke View Post
The used kit above is being sold because he purchased a f10 M5 and sold his car. He had it for a couple years so I guess it was time for a change.
Andrew@ActiveAutowerke since you chimed in...two things...

is this pre-owned system your new Gen 2?
and
should i worry that its pre-owned and future issues to look out for?

obviously this is a good deal
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      05-02-2013, 11:44 AM   #27
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Quote:
Originally Posted by Andrew@ActiveAutowerke View Post
The used kit above is being sold because he purchased a f10 M5 and sold his car. He had it for a couple years so I guess it was time for a change.
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Originally Posted by Dave07997S View Post
What is the interest rate on the loan? If you are beyond the 50% mark most of your payment is going towards principal not interest like the beginning of the loan. If you were fresh into the amortization of the loan I would say pay down the loan. It would save a lot of money as you have now accelerated the amortization schedule.

Dave

4% on $55k for 6yrs (3yrs left)
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      05-02-2013, 12:44 PM   #28
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Quote:
Originally Posted by aka_phox View Post
Andrew@ActiveAutowerke since you chimed in...two things...

is this pre-owned system your new Gen 2?
and
should i worry that its pre-owned and future issues to look out for?

obviously this is a good deal
1. No it is a Gen 1 with the larger Hks 8555 blower.

2. Car was running great before he took it off so there shouldn't not be any issues with the kit being second hand.
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      05-02-2013, 12:50 PM   #29
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Quote:
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He only owes 35K on a car worth 50k+ and you think hes in a bad debt position? Im all for the SC, OP. Live a little. Life is short and you cant take money with you.
I guess that I should have bought a Gallardo as I paid cash for my M3 when I bought it? Since I could buy the M3 outright, I should go buy a much more expensive car so that I can finance it, by your logic?

I know that I can't take it with me, but I also plan on living for another 45 years and not working for at least 25 of those. If you want to have a car payment for the rest of your life, then perhaps you may need to work for the rest of your life to afford it.

I say pay off the debt first.
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      05-02-2013, 12:57 PM   #30
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The package that akh23456 has for sale is a great kit and price. And I emphasize PRICE! That was $15k when it was released.
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      05-02-2013, 01:00 PM   #31
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Quote:
Originally Posted by aka_phox View Post
4% on $55k for 6yrs (3yrs left)
I am still mystified that people finance a depreciating asset over 6 years! How much interest is being paid over the life of the loan?!?!

There are people who pay off homes in less time with certain income properties cash priced below the cost of a military sales E93.
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      05-02-2013, 01:05 PM   #32
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Nice to see so many of you Americans with this mentality these days. This will help avoid the issues that arose in '08 in the future. Good practical advice.




Quote:
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Always pay off debt first.
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      05-02-2013, 01:08 PM   #33
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Quote:
Originally Posted by osteome View Post
I guess that I should have bought a Gallardo as I paid cash for my M3 when I bought it? Since I could buy the M3 outright, I should go buy a much more expensive car so that I can finance it, by your logic?

I know that I can't take it with me, but I also plan on living for another 45 years and not working for at least 25 of those. If you want to have a car payment for the rest of your life, then perhaps you may need to work for the rest of your life to afford it.

I say pay off the debt first.



Where did I say anything about buying a more expensive car?
My logic was, hes right side up 15k.

Either way he is spending the money so what difference does it make when he spends it? He can wait 3 yrs and then get a SC. Or he can buy a SC now and pay the car off over 3 yrs as he had originally planned to do when he bought the car right?

If you finance a car for 3 years then you knew it was a 3 year commitment to begin with. Clearly he put some big money down to be 15k right side up, so why does he need to put more down to be "smart".
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      05-02-2013, 01:13 PM   #34
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Yep, if he is not going to borrow against the equity in the car than +1



Quote:
Originally Posted by ILSMKU View Post


Where did I say anything about buying a more expensive car?
My logic was, hes right side up 15k.

Either way he is spending the money so what difference does it make when he spends it? He can wait 3 yrs and then get a SC. Or he can buy a SC now and pay the car off over 3 yrs as he had originally planned to do when he bought the car right?

If you finance a car for 3 years then you knew it was a 3 year commitment to begin with. Clearly he put some big money down to be 15k right side up, so why does he need to put more down to be "smart".
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      05-02-2013, 01:14 PM   #35
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Quote:
Originally Posted by osteome View Post
I guess that I should have bought a Gallardo as I paid cash for my M3 when I bought it? Since I could buy the M3 outright, I should go buy a much more expensive car so that I can finance it, by your logic?

I know that I can't take it with me, but I also plan on living for another 45 years and not working for at least 25 of those. If you want to have a car payment for the rest of your life, then perhaps you may need to work for the rest of your life to afford it.

I say pay off the debt first.
In fact you should just buy the car you want(if you can afford it), not the most expensive car you can afford!

You don't even know if he has some kind of investment someplace else, I don't think you can judge what his life will look like just by looking at his car payments! I have car payments not because I have to , because I prefer, that does'nt mean I will need to work for the rest of my life!

Maybe you just wanted to plug that you paid your M3 cash!!
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      05-02-2013, 01:32 PM   #36
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Quote:
Originally Posted by thegeneral101
Always pay off debt first.
This
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      05-02-2013, 01:55 PM   #37
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Quote:
Originally Posted by osteome View Post
I am still mystified that people finance a depreciating asset over 6 years! How much interest is being paid over the life of the loan?!?!

There are people who pay off homes in less time with certain income properties cash priced below the cost of a military sales E93.
this really is off topic and not relevent. i am sure it makes you feel good about yourself that you dont finance anything and pay off everything randy moss style with "straight cash homie".

there is ZERO wrong with taking out a loan at a low rate that allows you to be more flexible with the cash you have on hand. i could pay off my car, but have a 1.9% interest rate and have made much more with my investments over this time.

nothing wrong with financing as long as you have at least 20%+ down on the car or are paying cash for the car.

OP : do what you want, but id suggest driving an SC'd car first to make sure it will meet your expectations, and then determining how much value the mod has to you at that point.

Last edited by KennyPowers; 05-02-2013 at 02:03 PM.
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      05-02-2013, 02:05 PM   #38
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Quote:
Originally Posted by Alex07M3 View Post
In fact you should just buy the car you want(if you can afford it), not the most expensive car you can afford!

You don't even know if he has some kind of investment someplace else, I don't think you can judge what his life will look like just by looking at his car payments! I have car payments not because I have to , because I prefer, that does'nt mean I will need to work for the rest of my life!

Maybe you just wanted to plug that you paid your M3 cash!!

This. I think buying a $80-90K car in cash is foolish....unless ofcourse you have 2 million in the bank for just such purposes. Wouldn't you rather have that money earning 5-10% interest? Especially when loan interest rates are so low(mine is about 2.6%). This is one of those threads where you'll get totally differing opinions anyway......conservative/have NO debt or live a little & do what makes you happy NOW. Ultimately, it's up to you and what you can "afford" and what makes you "comfortable". I've known people that saved every penny, had no debt, retired at 55, and a week later dropped dead. No thanks, not for me. I say live a little......ofcourse, i'd never put my family in "jeopardy" over a car. This doesn't apply to all of you, 1 %ers on here ofcourse
PS: I just SC'd my car last week and I still owe on my car.......and I don't regret it a single bit!

Last edited by Tim B.; 05-02-2013 at 02:08 PM. Reason: adding
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      05-02-2013, 02:12 PM   #39
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You should take out loans now and turn it into assets as inflation will likely be higher than your loan rate.
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      05-02-2013, 02:16 PM   #40
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Quote:
Originally Posted by Andrew@ActiveAutowerke View Post
1. No it is a Gen 1 with the larger Hks 8555 blower.

2. Car was running great before he took it off so there shouldn't not be any issues with the kit being second hand.
is there any real big issue why the Gen 2 is better than this pre-owned system other than price?

the reason why this is so attractive to me is the price with being that since i budgeting $13k for the SC...i could be saving half that to put towards other things?
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      05-02-2013, 02:20 PM   #41
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Quote:
Originally Posted by ILSMKU View Post
He only owes 35K on a car worth 50k+ and you think hes in a bad debt position? Im all for the SC, OP. Live a little. Life is short and you cant take money with you.
THAT ^^^^^^
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      05-02-2013, 02:21 PM   #42
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Now that is a tough one my man. I have had both and I would not go back to Gen 1. If you have the cash and were prepped to spend 13k I would go Gen 2. It is much better, in all aspects.





Quote:
Originally Posted by aka_phox View Post
is there any real big issue why the Gen 2 is better than this pre-owned system other than price?

the reason why this is so attractive to me is the price with being that since i budgeting $13k for the SC...i could be saving half that to put towards other things?
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      05-02-2013, 02:22 PM   #43
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bro you already know what id say...SC that thing!!! but id wait a lil bit there are already a good amount practically being given away...just think once the F80 comes out i think that guys will be parting their E9Xs out to trade in...just my opinion brother
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      05-02-2013, 02:38 PM   #44
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Quote:
Originally Posted by aka_phox View Post
is there any real big issue why the Gen 2 is better than this pre-owned system other than price?

the reason why this is so attractive to me is the price with being that since i budgeting $13k for the SC...i could be saving half that to put towards other things?
Well besides one being brand new and including a 2 year warranty I can think of a couple bullet points.

- Gen1 level 2 will make about 30-40 whp more than the gen 2 level 1

- The Gen 2 Rotrex will allow for upgrading if you decide to go level 2 or 3 in the future.

-Gen 2 level 1 and level 2 do not come with meth.

-Rotrex blower is smoother with a better top end .
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