I agree with the group and say to pay it off. Once you start buying things for your car you might end up buying parts on credit, further indebting yourself. Pay off the car and then do whatever you want to it. But if you have the money for a payment and goodies, put that goodie money on the car, or take a shorter loan from the get-go. I took out a 3-year 0% loan, but my payment is $530/month. But in 3 years I'll be in a swank spot. Definitely pay off the car as fast as possible.

I disagree with some of the responses on here about credit. It is good to have balances on things, but you don't always need to maintain it. The worst thing to do actually is close a line of credit. For instance, say you buy a computer from HP and get a credit card with them. Once you pay off the account, don't close it. Maintaining a credit line with a good rating, regardless of the balance, will help you. So to disprove what was previously said, say you have 4 credit cards, all with balances. If you go to apply for a car loan or something and you have a few grand in credit card debt, a financial institution might find your debt-to-income ratio to be too high since you have 4 monthly bills to pay. Just my thoughts on the issue.

 

That's a battle I just went through and lost. I had a bunch of money from selling parts from my wrx, and intended on putting it towards my loan but...I got this instead

HKS 272/272
APS DP & Catless midsection
Greddy Titanium Catback
Super AFC2
manual boost controler
Defi Boost gauge
HKS turbo timer
Bushur Intake
Bushur Intake pipe
Bushur Upper Intercooler pipe

I feel so guilty though....BAD JOHN!

 

Get goodies enjoy them

 

i think the people that say get goodies are young and the ones that say to pay it off was young and acted stupid.. now regrets it

-joe

 

I didn't make a stupid decision and I'm doing great. I'll have a brand new $19,000 car paid off in 3 years and I'll have 2 more years after that of bumper-to-bumper warranty to cover any defects. What's so stupid about that?

 

I didnt' say you made a stupid decision.. i am saying that usually young people will generally not be forward thinking enough to pay off the car first then mod.. they will spend every last dime on mods and then sweat it when it comes to the payments

i got 0% apr from the dealer for 48 months.. so there is really no incentive to pay more than i need to anyways

-joe

 

Are you paying it off in 2 years or is it going to take you longer?

 

Well if I get the loan and dont get the mods then it will take 2 years or a little less.

 

im with the crowd on this one...PAY IT OFF. Im sure you'll be much happier in the long run. you already have significant mods, be happy good credit and no car payments is a dream for 21 year olds (like myself) make it happen.

 

Dude you have to pay it off... we all know how painful it is every month to write that damn car payment check. Goodies will come after you pay off the car.


-=RoscoES=-