Finance Car Parts?

"Supreme Chancellor and Glorious Leader SaveTheIntegras" (jegoingout) 06/26/2017 at 09:24 • Filed to: None

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Apparently that’s a thing. The website Kseriesparts.com lets you finance car parts; which I think is insanely stupid but I’ve always been curious as to what life sucking rate you get. Thankfully some idiot did and he bought $2200 coilovers, financed them and is paying a 20% interest rate.

I feel like car parts or modifications of any form are things you should not finance..but that’s just my $0.02

Smallbear wants a modern Syclone, local Maple Leafs spammer > Supreme Chancellor and Glorious Leader SaveTheIntegras 06/26/2017 at 09:27

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If you need to finance car parts:

a) You need a more reliable car,

or

b) You really don’t have the money for mods. Don’t be an idiot.

Of course, this is coming from someone who never intends to finance a complete CAR unless it’s unavoidable, so ymmv...

Honeybunchesofgoats > Supreme Chancellor and Glorious Leader SaveTheIntegras 06/26/2017 at 09:27

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Financing $2200 at 20%? I don’t even.

fintail > Supreme Chancellor and Glorious Leader SaveTheIntegras 06/26/2017 at 09:30

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Not exactly a risk-free proposition for the lender either.

TheBloody, Oppositelock lives on in our shitposts. > Supreme Chancellor and Glorious Leader SaveTheIntegras 06/26/2017 at 09:33

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“A fool and his money are easily parted” never rang so true as it did here.

I’m speechless...

nermal > Supreme Chancellor and Glorious Leader SaveTheIntegras 06/26/2017 at 09:36

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How is that different from using a credit card? For that matter, is this simply a store credit card?

404 - User No Longer Available > Supreme Chancellor and Glorious Leader SaveTheIntegras 06/26/2017 at 09:38

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Title plus website name makes it sound like it’s run by some K-Car owners’ club.

Steve is equipped with Electronic Fool Injection > nermal 06/26/2017 at 09:48

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That was my first thought. My first credit cards were between 24-29%

My Best Buy card is still up over 20% but I haven’t used it in two years. Plus I still get 0% for 6 months so anything I might buy I pay off asap.

Nothing > Supreme Chancellor and Glorious Leader SaveTheIntegras 06/26/2017 at 09:52

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I use a credit card for points. When I don’t use it long enough, I usually get some silly 0% for 18 month offer. The only time I ever “finance” is when I get 0%, otherwise, I pay the balance off monthly. Even when I do get 0%, I still don’t like to carry a balance.

Smallbear wants a modern Syclone, local Maple Leafs spammer > Honeybunchesofgoats 06/26/2017 at 10:02

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I’d also like to know the length of the deal, frequency of payments, how much they required up front and whether it’s simple or compound interest.

Unless it’s a VERY short term deal, say 6 months or something... it’ll never be paid off.

bhtooefr > fintail 06/26/2017 at 10:41

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Well, if you’re selling cheap Chinese parts, you’ve probably made your money back after a couple of payments, the rest is pure profit.

DC3 LS, will be perpetually replacing cars until the end of time > Supreme Chancellor and Glorious Leader SaveTheIntegras 06/26/2017 at 11:03

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I’ll take things Army privates do for $500.

Supreme Chancellor and Glorious Leader SaveTheIntegras > Smallbear wants a modern Syclone, local Maple Leafs spammer 06/26/2017 at 11:39

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He says he pays $90 a month, so i do not know what that equals out in terms of payment length

Supreme Chancellor and Glorious Leader SaveTheIntegras > nermal 06/26/2017 at 11:43

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Considering the website does not personally finance this, its a 3rd party company..it’s not a really a store credit card

Smallbear wants a modern Syclone, local Maple Leafs spammer > Supreme Chancellor and Glorious Leader SaveTheIntegras 06/26/2017 at 11:58

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Over 2 1/2 years, at least. Depending on how often they tack on the interest.

Once a year, 31-32 months. Monthly, he’s paying forever.

DrScientist > Supreme Chancellor and Glorious Leader SaveTheIntegras 06/26/2017 at 12:58

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same basic idea though. this car parts store probably doesnt have the financial backing or infrastructure of a company like, say, macy’s.

nermal > Supreme Chancellor and Glorious Leader SaveTheIntegras 06/26/2017 at 13:05

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Looks like financing is thru a company called Affirm. They appear to be a startup financing institution targeting online stores. So it’s not quite a credit card.

Most store credit cards are run through an actual bank, such as HSBC.

merged-5876237249235911857-hrw8uc > Nothing 06/26/2017 at 13:28

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That’s how we use our cards too, similar to a debit, but at least we are afforded the protections a credit card offers online vs debit cards that are linked to your checking account.