Performance Loans how many would be interested

Performance Loans how many would be interested

i did this poll on nico and wanted to get more votes. just vote you can ask questions or make comments.

what's a performance loan?

Unless you are going to make a career out of racing, I wouldn't do it. To me, performance is for fun, like an expensive toy. I don't take it seriously. I do like to drive fast, but not to the point of going all out racing all the time. What I do to my car as far as performance go, is sort of like a hobby. If I have some leftover money, I'll buy some performance parts here and there to make my car better. Of course, the thought of having a fast Corolla is fun too at the same time.

performance loan is money you can spend on car parts. Like say you take a 10k performance loan well you can spend all that on your car

you mean banks will actually give u loans to modify ur car? if so, do they expect u to profit from ur car by racing inroder to pay the loan?

given enough a high enough credit rating (and the desire to pay 2 digit intrest..), you can walk into a bank and walk out with a cash "signature" loan. if you put up the car as colataral, might be cheaper. but most folks have a loan on the car anyway, so that blows that.

for that matter if you didnt have a loan on the car already, sell the car to yourself. you keep the car and the money, bank gets the title. you pay a simple used car loan rate.

[dad mode on] either way, mod what you can afford to fix. if you need a loan to pay for the mod, you shouldn't be modding. [/off]

i am talking about people being able to take out what they can pay. Not so they can be in debt

[dad mode back on/] what you describe is paying cash. taking out any loan is debt, and you are going to get whomped with intrest, probably in the 15-20% range for a "performance loan" which id guess to be on par with most other unsecured loans. [/off]

If I had a way of paying it back, I wouldn't need a loan would I?

its a faster way then waiting 2 years smart ass

mm I agree with beak and matrix. Unless you plan to mod it out, race it constantly and attempt to profit off it, don't bother. The idea of loaning out money with any interest without profiting from it doesn't seem like a good idea to me. It will at first having all the money to play around with. But in the long run you'll have to pay for it all anyway, except with the loan you got the big interest. Just my 2 cents[/list]

Still rather save it up than pay 1.5 the cost for it cause of interest :?

trust me, if anyone wants to give me an intrest free loan to mod the car with, im all over it, but for me, id rather not have, than pay the intrest on a mod.