****, Vosko! What you gonna do dude? How bad is the damage. I guess totaled means, TOTALED :O Were you draggin' on the street?

 

My .02
The only thing I will ever owe money on is my house. I believe if you can't pay cash for it you can't afford it (becides the house). I would have really liked to pay cash for it but I would probably have to save up 10 years and I needed a place to live now. I drove and still drive for the most part a beater car so I could save up a large chunk of cash to put down on my home. Once I had over 25% I bought the house, here in MN if you have over 25% down you can avoid PMI (private mortgage insurance) wich is bacically throwing money down the toilet once a month. Cars are luxury items, if you ask me no one should try to mod a FB,FC or FD if they don't have a pile of cash and all other debts payed off. After I bought my home and was settled in I started to really mod my FB. I have probably close to 9k in it now. Can you imagine having 9K on a CC and trying to buy a house at the same time! If your asking yourself if you should take out a loan to "go single" you can't afford the FD at this point in your life.
BUT if you can get one of those 0% CC for a year like the other guy and KNOW you can pay it off in that years time that may be a way to go.

 

i payed cash for my single turbo setup and upgrades.

http://f2.pg.photos.yahoo.com/ph/poo...=/RX-7&.view=t

 

Just when you think you have heard it all

 

poorboy sweet car man, nice setup, btw what color is your car painted?

 

I though it was a federal law that mandates only 20% eqity to get out of pmi. Regaurdless a way you can get out of pmi with a small down payment is to do a 80% 1st mortgage (or in MN I guess 75% pri mortgage). Then do a second mortage for the difference between that and your actuall downpayment. I've bought a house before with as little as 5% down by doing an 80% loan, 15% loan, and 5% down payment....and no pmi. Only your primary loan company can enforce pmi

Just a little tid bit of info for ya!

STEPHEN

 

Ahh, a loan for a loan. Thats a new one
I don't have any first hand experience with PMI, just what my friend told me that has to pay it. Either way it sucks and you're better off saving as much as you can before you make the big purchase.

 

was minding my own business going to my parents house on a sunday afternoon. car wasn't even warmed up. funny thing is had i been doing 100MPH i wouldn't have gotten in the accident with the MORON

 

Lesson learned, I will drive 100 wherever I go
Sorry about the car Vosco, I don't have an FD, but I have alot of parts (FC mainly), drop me a line if you need something, I'll give you any parts I have laying around for shipping. Carl

 

HaHa, yea I agree putting money down is good. I didnt want to put money down though cause the rate I got was about 5.75% which after the tax write off is more like 4.25%. I make substantially more interest than that in my savings so I didnt want to pull much money out of savings. Doing the 80/15 with 5% down is no different than doing one 95% with 5% down. You just break it up into 2 loans so you dont have pmi. If your buddy has a long way to go before he gets down to 75-80% equity tell him to refinance a portion of it so his first will only be 80% and he'll get out of pmi. Especially since you can do 2nd mortgages with no closing costs.

Sorry I got off topic, I just couldnt help myself lol

STEPHEN

 

Truth is I don't know why he hasn't refinanced! He got his loan a year ago Sep, I'm sure he could drop a point or more and also get rid of the PMI. I haven't thought of the two loan deal, makes sence in this situation or even a 2nd mortgage to get rid of the PMI. I'll have to let him know about the options, hell I think I have a couple friends that can benefit from this

On a side note, what kind of "savings account" do you have that pays more than 4.25% right know??

wow, all this in a single turbo Rx-7 forum talk about off topic! But on the other hand it takes a big stack of cash to play with these cars...

 

Well, its not really a "savings account", its my investment account at Etrade. I keep most of my money there and play around with it quite a bit. If I say how much interest I make I'd jinks myself....that would be kinda like saying my motor is still running strong.....cause if I said that it would prob pop the next day lol

STEPHEN

 

For me I had a consistant 3-5K Credit card statement to pay off at the end of each month for about half a year.
I'd say don't buy a mod until you can afford it.
I'm sick of putting money into the car by now, but it does give me a grin everytime I step on the gas.
Good luck with your conversion, and just remember that it's just not the Turbo kit. You have fuel, computer, IC, cage if you want to run 11.99 at the track or lower, wheels and tires to put the power to the ground, guages, you name it. You can look at my website to get the break down, and I'm still not finished. Need a Diff, axles, braces, Ignition, and cosmetics last. Like I said though good luck, and the single is the way to go, but wow it's expensive in comparsion to just maxing out the twins on the Stock ECU and running low 13's.

 

Ahh, I see. I kind of do the same thing with my schwab account buying/selling stocks and collecting dividends. If you play with it enough and do enough research you can make some money. Much better than letting it sit in the checking account or savings account at a regular bank. I don't even have a savings account at a regular bank anymore, said screw it, no reason for it.

 

dont spend what you dont have

 

You would hate to see some 16 year old kid pick up your fd for a couple thousand at a repo auction wouldn't you?

 

My FD has me in debt
not too bad though. should be clear in a few months

 

Well if you would of been do'in 145 MPH the MORON would have been behind you.... right?