do you think?

"Frank Grimes" (FrankGrimes)
04/30/2016 at 02:15 • Filed to: None

A bank would loan me money to buy wheels that cost the same as i paid for my car?

DISCUSSION (16)

Steve in Manhattan > Frank Grimes
04/30/2016 at 02:18

The Bank of Usurious Interest Rates? Maybe. The Bank of Everybody Else - nope.

AddictedToM3s - Drives a GC > Frank Grimes
04/30/2016 at 02:21

HNNNNNGGGG! Mag Blue Volks. I need them.

6Cylinder > Frank Grimes
04/30/2016 at 02:35

Probably.

Frank Grimes > AddictedToM3s - Drives a GC
04/30/2016 at 02:43

they are like $2,400 no wheels is worth that!

Chewbakkah > Frank Grimes
04/30/2016 at 02:48

HRE’s are.

Chewbakkah > Frank Grimes
04/30/2016 at 02:50

It’d be considered a personal loan. If you can’t afford them from saving for 4 or 5 months you probably don’t need them. If you CAN afford them after saving for a short period that’s a better idea. If you for some reason have to emergency buy a set of wheels then maybe you can get a decent credit card and buy on that? Not sure how old you are, or how experienced in saving/finance you are but I would caution you against big purchases you can’t pay cash for. (I learned the hard way... twice)

jordang1028 > Chewbakkah
04/30/2016 at 03:04

THIS! Get a credit card that will reward you for the purchase. If you don’t have the credit score to do so, just save up. I know all too well the lure of instant gratification, but do you really want to pay the interest on a personal loan? Sure, you can get one, but especially if you have a low/average credit score, interest on such a loan will generally be in the 10-20% range. So that $2400 will turn into $3000 real quick.

Frank Grimes > Chewbakkah
04/30/2016 at 03:27

i can buy lighter flow formed wheels for like $150 each.

Funktheduck > Frank Grimes
04/30/2016 at 07:04

Only if they really consider themselves a cool bank.

Aaron M - MasoFiST > Frank Grimes
04/30/2016 at 07:22

A set of Volks costs $2400 and weigh 11.5 lbs each (15x8).

A set of 949 racing 6ULs costs $650 and weigh 11.6 lbs each (15x8).

Just to be clear about what that extra $1700 is getting you...you’d be buying a Coach bag for your car.

Jarrett - [BRZ Boi] > Aaron M - MasoFiST
04/30/2016 at 08:16

I cried when I learned how much it would cost me to get 6ULs shipped to Canada. The want is strong.

Shour, Aloof and Obnoxious > jordang1028
04/30/2016 at 09:41

If you have a really good credit score, you can generally score a personal loan for a better interest rate than a credit card, however.

My credit union was unwilling to give me a used auto loan (4%) to buy a 16-year-old car (even if it was a luxury sedan) , but a 735 credit rating scored me a signature loan (6%) with zero hassle or collateral needed.

Carbon Fiber Sasquatch > Frank Grimes
04/30/2016 at 10:30

As a banker, you would want an unsecured loan. NEVER use a credit card for short term loans, the interest rates will destroy you. I don't recommend either option though. You will save soooo much money by just saving for them

Demon-Xanth knows how to operate a street. > Frank Grimes
04/30/2016 at 10:49

I have a car that is worth $3k, I have a CC with a limit more than $3k. So...why not?

theuserformerlyknownasaluminumfoil > Frank Grimes
05/02/2016 at 08:39

What? Where?

Frank Grimes > theuserformerlyknownasaluminumfoil
05/02/2016 at 23:14

good win racing