And the real ***** Oz is that I'm paid to drive down the Gold Coast a few times a week. A convertable would make that a real chore .
Mentioned the idea to my Pa and brother today and they both put their hands up for a resto job. Wonder what a shell from the states would cost! Then I wonder what the new Boss 290 costs......
Mentioned the idea to my Pa and brother today and they both put their hands up for a resto job. Wonder what a shell from the states would cost! Then I wonder what the new Boss 290 costs......
Hmmmm, Boss 290 in a 1969 Vert !
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1995 Mustang GT - Vert
RHD Conversion, Vortech V2-SQ, 42# injectors, CAPA Chip, 18" BonSpeed Wheels, 3.73 Motive Gears, AutoMeter Gauge Pod, Pedders Springs, Koni Shocks, 13" Cobra Brakes, BBK Shorty Headers
~~ He Who Dies With The Most Toys Wins. But Is Nonetheless Dead ! ~~
You need more than 290kw's??? Remember there's about 600kg's less weight than the FPV...............I reckon it'd be quite the handfull.
Well it's fate now, I saw two late 60's stangs on the weekend, one in my street, and one down at supercheap, and that's the first stangs for about a year. Fate I tell ya. The second was a 68 convertable, sure looked long with the top down!
Well I spoke to my Bank today and I have the go ahead as far as selling and paying out my current car, but I have a bit of a hitch. They will bend the rules for me because of my history, but bank policy is not to finance a car with more than two owners. So I need to find a car with paperwork...........or a finance company that caters for classic cars.
Any ideas?
I'm sure I can get around this, but need to ask if anyone else has gone this road.
You need more than 290kw's??? Remember there's about 600kg's less weight than the FPV...............I reckon it'd be quite the handfull. .
Someone said "Too much Horsepower is almost enough" and it's allways nice too know you've got power to spare even if you don't use it (often)
Quote:
Originally Posted by cogdoc
Well I spoke to my Bank today and I have the go ahead as far as selling and paying out my current car, but I have a bit of a hitch. They will bend the rules for me because of my history, but bank policy is not to finance a car with more than two owners. So I need to find a car with paperwork...........or a finance company that caters for classic cars.
Any ideas?
I'm sure I can get around this, but need to ask if anyone else has gone this road.
Greg.
You could add it on to your mortgage but the trick is to work out the repayments on the extra amount over 3 or 5 years and add that amount to your existing repayment
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Wimblton white 66 coupe C code 289 auto
97 Jeep Wrangler 4.0 auto, lift ,winch,33's etc
04 Holden VY SS 5.7 auto (wifes)
88 KLR 250
DISCLAMER:
Please feel free to ignor all advice/information offered
I could be wrong...... I have been before.
Personal loan or add it to your house mortgage. Thats about all I can think of....
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1995 Mustang GT - Vert
RHD Conversion, Vortech V2-SQ, 42# injectors, CAPA Chip, 18" BonSpeed Wheels, 3.73 Motive Gears, AutoMeter Gauge Pod, Pedders Springs, Koni Shocks, 13" Cobra Brakes, BBK Shorty Headers
~~ He Who Dies With The Most Toys Wins. But Is Nonetheless Dead ! ~~
I get a decent car allowance at work, so I can fund the car, it's more finding a company/bank that will loan on an older vehicle. I am currently with Comm Bank, and they wil not loan on a car without a papertrail of ownership. Adding it to the home morgage is not a good option!! That's a stack of interest my friends!!!
I get a decent car allowance at work, so I can fund the car, it's more finding a company/bank that will loan on an older vehicle. I am currently with Comm Bank, and they wil not loan on a car without a papertrail of ownership. Adding it to the home morgage is not a good option!! That's a stack of interest my friends!!!
Greg.
I'm interested to know why you think adding to your mortage isn't sound financially.I've allways worked on the principal that If I was going to buy a $40K car and pay it off over 5 years at current mortage rates I'd be looking at about $200 per week on top of my current mortage repayment.
If there's a better way I'd like to know it
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Wimblton white 66 coupe C code 289 auto
97 Jeep Wrangler 4.0 auto, lift ,winch,33's etc
04 Holden VY SS 5.7 auto (wifes)
88 KLR 250
DISCLAMER:
Please feel free to ignor all advice/information offered
I could be wrong...... I have been before.
Interest rates on car and personal loans are usually higher. Therefore I would have thought adding it to the house loan would be the cheapest option ???
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1995 Mustang GT - Vert
RHD Conversion, Vortech V2-SQ, 42# injectors, CAPA Chip, 18" BonSpeed Wheels, 3.73 Motive Gears, AutoMeter Gauge Pod, Pedders Springs, Koni Shocks, 13" Cobra Brakes, BBK Shorty Headers
~~ He Who Dies With The Most Toys Wins. But Is Nonetheless Dead ! ~~
It is true home loans have a cheaper interest rate, but if you shop around, only about 1%. My home loan is roughly 6.5% and the car lease 7.5%.
Upside of adding the car to your home loan is cheapest interest rate, and easy way to get the car as a house is great security.
Problem is the trap of not paying the car off in the usual 4-5 year period, and paying much more interest than a straight car finance loan in the longrun. Depends on you dedication. Also if anything goes wrong, your house is in jeapody, whereas with a lease you just lose the car.
You can't write your morgage off on tax, whereas if you can use the car in your employment ( good accounting? ) with a lease you can get a tax advantage. As a sales rep this is certainly true in my case.
Remember interest is calculated, then added to your initial debt ( principal ). I'm sure you have seen the typical loan curve, where you pretty much pay interest for the first part of the loan, but as the principal drops, you pay off more and more. The higher the principal, the longer till you start to make headway. Add the car to your mortgage, and it's going to be more time paying mostly interest, unless of course you have the dedication to make the right extra repayments to cover the car.
I am no financial expert, but this is my understanding.
I am no financial expert, but this is my understanding.
Neither am I, but I do know the more you can save on finance and tax, the more you can spend on modifications ! :thumbup And thats all that matters
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1995 Mustang GT - Vert
RHD Conversion, Vortech V2-SQ, 42# injectors, CAPA Chip, 18" BonSpeed Wheels, 3.73 Motive Gears, AutoMeter Gauge Pod, Pedders Springs, Koni Shocks, 13" Cobra Brakes, BBK Shorty Headers
~~ He Who Dies With The Most Toys Wins. But Is Nonetheless Dead ! ~~
If only I could think of a way to claim my running expences on tax . . .
Is a Supercharger considered a tax deduction ???
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1995 Mustang GT - Vert
RHD Conversion, Vortech V2-SQ, 42# injectors, CAPA Chip, 18" BonSpeed Wheels, 3.73 Motive Gears, AutoMeter Gauge Pod, Pedders Springs, Koni Shocks, 13" Cobra Brakes, BBK Shorty Headers
~~ He Who Dies With The Most Toys Wins. But Is Nonetheless Dead ! ~~
1995 Mustang GT - Vert
RHD Conversion, Vortech V2-SQ, 42# injectors, CAPA Chip, 18" BonSpeed Wheels, 3.73 Motive Gears, AutoMeter Gauge Pod, Pedders Springs, Koni Shocks, 13" Cobra Brakes, BBK Shorty Headers
~~ He Who Dies With The Most Toys Wins. But Is Nonetheless Dead ! ~~
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(often)
