Ok so I'm planning on getting the novi2000 mongoose kit from mph this summer. Why novi and not vortech you ask? Well for $500 more, it has more potential to expand and (from what i hear) makes more hp with 8 lbs of boost than a vortech, but PLEASE correct me if I'm wrong.


So I'll have about 4.5 grand saved by june/july, but rather than drop it all on the kit and have zero in my bank account, I was thinkin about gettin out a loan for about a 3 yr period of about 6 grand, which, after interest, would leave my monthly payments to around $200/month(which I can afford and still have spending money afterwards). I would rather do this just in case something came up and I needed a few grand(some kind of car/family emergency), I could just go to my account and take it out. Also if a month or 2 I happened to not be able to pay the loan payment for that month(which isnt likely), I could dip into my bank account for a few payments. As far as I can tell, it's pretty sureproof. Even if I lost my job, I could payoff most of the loan with the money in my account, but I just hate seeing my account with 3 figures instead of 4.

Anyone think this is a bad idea? I could easily pay the loan off plus I'd be able to get the entire novi2000 kit and everything else needed, like a new rear end, new tires, etc with the rest of the 6 grand. Plus if I needed a few hundred more, I'd still have my $4+ grand in my account.

Any input is HIGHLY appreciated!!!

 

actually thats kinda a smart idea, (aside from the fact of whether you really need the NOVI kit in the first place lol)

GO FOR IT! hell you might even wana upgrade to deep dish rears to plant that power better...

 

I'd say go for it, but I would do one thing. I would use $1k of your $4 for a downpayment on the $6k. That will get you a better interest rate and payment option.

And I have been looking at MPH's mongoose kits too. Is that their installed price or just the kit?

 

omg, DannyB with 400 plus. I can imagine your first video.

Sounds like a good plan. Its sort of similar to what i did.

 

If you have a job and decent credit, banks will give you 0% on a credit card.

I have an open deal with my bank. 40k credit limit on a card which guarentees me 0% on any purchase for 12 months. I owe NOTHING on it, but if you have been reading my current posts, I will be using it to pay for my new motor swap and then just plopping money on it as I get it. You may not need 40k, but you may just find exactly what you need. JUST BE DICIPLINED.

 

sounds like a good idea, I did the same thing when i baught my car, I took out a student loan, I needed money for school and needed a newer car, so i did that and I dont have to start paying until after graduation, I have also done the same thing since I blew my motor, I just recently applied for another student loan for summer school and to fix my car, i was aproved for 27,000 dollars but opted to drop it to 7k, the only thing is on this one ( iwent with another comapny) I have to start paying 2 moths after i get the money, but interest only, and the repayment period is up to 20 years,( witch i will never do), So my payments after i Graduate will be around 150-300 witch is nothing as long as i Have a decent job ( like a PHED teacher and coach at a HS) it will be no problem.......Just be smart and make sure you go through the numbers over and over

 

Put a decent down payment on the blower and then finance the rest. As long as you are disciplined enogh to make a healthy 200-300 buck payment each month you should be fine. It's just scary to blow your whole load at once in case something does come up, IE marriage. Thats basically how I pay for my mods, pay a chunk, and then make payments, not in your $ category tho. Can't wait to see it.

 

It all depends on what you want to do with you and your car. Is it a DD? Is it a primary car? Do you NEED the car if something does break?

I also very well could get a blower this summer with no financial problems and still ahve a healthy amount left. But I wouldn't be able to do other things that I see are more important right now. My car is a DD and to me it's not the smartest decision for me and I dont wanna bust anything else, IE auto tranny. I'm just saving my money and in 2/3 years I'll be getting blown.

 

Smartest thing Ive ever heard Greg say lol. I also so no on the loan. Dont turn a 4k dollar supercharger kit into a 6k dollar one. Just my opinion.

 

a cheaper option, especially if you dont want boost 24/7....look into nitrous..that's what im doin

 

:stupid:

 

I agree with Greg, it's a bad idea. If you can't just pay for something that's a "luxury" without getting a loan then you can't afford it in my book. I know after I spend a lot of time on this board and others I get all fired up about mods and wanting to have a super fast stang, but then when I really sit down and think about the reality of things.....it doesn't mean squat. it looks like your about 21??? Save your money man, do you go to school? Have any student loans?? Want a house or condo anytime soon?? I mean those are all things you should think about before doing something like this.

 

I dont know its his money and life, Im sure whatever decision he makes it will turn out to be good, He seems like he responsible enough to me, remember we are not exactly talking about the supercharger, we are talking about if it is a good plan, will he be able to fork out the extra dough a month? None of us know the answer to that question except him, and by what he is telling us he can do it, I am no financial advisor but If everything he says is true( about have about 4-5k in the bank) then i dont see why he wouldnt be able to handle this, I would recomend do half and half, half down, half loan,.....also i would recomend building up your engine, you never know what could go wrong

 

Wait wait wait...you nitrous hater now you decide to use it ......come over to the dark side.

 

nitrous hater? your getting me confused with danny, I've never hated on nitrous..my only beef with nitrous is expensive fills, id rather have a blower but that ****'s expensive

 

yeah i love nitrous, fill ups arent that bad.... just imagine what i can do with nitrous when i get my engine built:clap: :clap: :clap: f the supercharger

 

No I bet I can find a few threads with you saying.....Have fun getting a new motor....lol

Thats what you said when I bummped up to a 125 shot

 

thats a big *** shot lol, but i never said i didn't like nitrous

 

Any shot below 125 is for girls

 

Its good idea based on the fact that you really thought this through. You even factored in, if you lost your job. As long as you have a dd you will be alright.

 

Damn greg, you are a smart boy I have to agree with the man. House > supercharger. And people wonder why the car is going back to "stock"....

 

What? your getting a house>???? getting married??

 

Thanks for the input guys. Alot can happen in 3-4 months so I'm not jumping to do anything quite yet. As for if my car got wrecked, I have gap insurance, so all I would owe after a wreck would be the s/c payment(if i had one) plus I'd have a higher insurance rate. I know that I'll never get out of it what I put into it but I've promised myself I'll never get married beore I graduate, and I have a solid 2 more yrs before I can graduate. By then, I should have a nice job lined up(after having done a few internships) and a payment of a few hundred bucks could easily be paid for the last year of the loan(if I got it this summer).

Also, I'm not one that cares a whole lot about being "free" and having my own place, so I'm not moving out anytime soon. Nothing wrong with me living at home while I'm going to college, then once I graduate and get a steady job, I'll get my own place. But yes, if I did this, it would be another 3-4 months so I got plenty more time to think. I'd still appreciate ANY other peoples' thoughts on this matter

 

so they can suck all my nitrous down.

PS i did some math fallow me for a sec. a new kit like his is 4,500bucks. it costs me 26-28 bucks to filll my 10lb. tank so that means minus my kit whihc in total cost 550 to setup with my msd window swtich fpss etc... now i have 3,950 left.
I can fill my bottle 141 times going to the more exspensive 28buck fill place. I fill mine about once a month.

I can fill my bottle for 11 and half years then i will have spent what he did.

So how exspensive is nitrous again?

 

lol this argument isnt for me. Thats not why I dont care for nitrous.

 

Good math man.......and the torque numbers cant be beat