Hello from Missouri - Jeep Wrangler Forum
Jeep Wrangler Forum

Go Back   Jeep Wrangler Forum > Community Forums > WF New Member Check In

Join Wrangler Forum Today


Reply
 
Thread Tools

Please support our sponsors and let them know you heard about them on WranglerForum.com
Old 05-16-2007, 09:20 PM   #1
Jeeper
 
Farmboy's Avatar
 
Join Date: May 2007
Location: St. Louis
Posts: 22
Hello from Missouri

Hey Guys & Gals!

First and foremost let me just say how much I enjoy this website! You guys are AWESOME. There are some real pros on here with some good technical information. This is the first place I come when I want to know something about my Wrangler. BTW - She's a Silver Metallic '06 X Model. My 2nd Jeep. See poser pics below...don't laugh!

Well, I guess since I am a new member, YES!, I will ask my first question. I tried searching already (forum etiquette) and found little to nothing on this subject. It is about somehow paying for my suspension and tire/wheel package. Well, if you're interested here's the situation:

I have a loan with Chrysler which I owe about $15,000 currently.

Would I be able to re-finance my loan for, say, $18,000 (with another bank, loaner, or even Chrysler) to cover the charges of those upgrades? And just have my monthly payment go up? Or would I be better off just taking out a small personal loan? Or just saving the cash (the hardest and longest)?

I have good credit and I always pay my bills on time. Would this be bad for my credit?

What would you do?

Any suggestions or opinions would be excellent.

Thank you in advance and PLEASE keep up the good work!





Farmboy is offline   Quote Quick Reply
Old 05-16-2007, 09:38 PM   #2
delicate %$^&*@ flower

WF Lifetime Member
 
tiny terror's Avatar
 
Join Date: Feb 2006
Location: California
Posts: 14,753
I can't give you any advice on refinancing, but welcome to the forum. I have a silver 05 that I've modded for a very small amount of money. He's not done, but I'm not in debt over the mods either. Slow and steady.

tiny terror is offline   Quote Quick Reply
Old 05-16-2007, 09:55 PM   #3
Jeeper
 
JCS05Rubi's Avatar
 
Join Date: Mar 2007
Location: central md
Posts: 2,748
Think of it this way. You get a loan for 3,000, youll have the cash RIGHT away to add mods (and void your warranty probably) but you are also going to pay, say for instance, 4,000 for that 3,000 over time.

Or you could just save up that same amount (say an extra 50-100 a paycheck) and only pay 3,000 out of 3,000, and put the extra 1,000 into something else Not to mention you will appreciate the mods more since you worked for em.

Maybe I am just biased though because I HATE banks and CCs and only use them when I need to

BTW nice Jeep
__________________
Dad's Blog! http://justkeepliving.blog.com/
T-Shirts for Dad, based on his "Just Keep Living" philosophy. http://www.cafepress.com/justkeepliving


1997 Wrangler Sport - 5 spd. Retired
2005 Wrangler Rubicon - 6spd|KC 55watt fogs, IPF H4s with fatboys,Uniden CB radio/Teraflex mount
http://www.4x4s-pod.com/
JCS05Rubi is offline   Quote Quick Reply
Old 05-16-2007, 10:47 PM   #4
Extremely Humble

WF Lifetime Member
 
Scout's Avatar
 
Join Date: Jun 2006
Location: Midland Texas
Posts: 11,549
Images: 12
Hey welcome to the forum!

To answer your question(s) about financing:

If you want to refinance your loan you'll have to go through a local bank or credit union. Chrysler Credit can only originate a loan on an untitled vehicle or a previously titled vehicle that is currently owned by a franchised automobile dealer (a Chrysler, Dodge, Jeep etc dealer). So basically, in simple terms, only a dealer can originate the loan.

Like I said that doesn't mean that you can't go elsewhere and refiance it though. The main thing is, of course, what your interest rate is compared to what you will qualify for elsewhere. Your Jeep is now a used vehicle (assuming you purchased it new) and used vehicles typically have higher interest rates.

If paying cash for your mods is out of the question then my recomendation is to look for a low or zero interest credit card if you can pay off the balance before the interest kicks in. However if you carry the balance beyond that date you'll pay dearly for those already depreciated mods. But you have good credit so you probably already knew that.

If the credit card isn't an option then I would roll the extra into your refinance note with your bank as long as the additional money doesn't exceed their loan guidelines. If you went this route you'll pay interest on the mods but it will be based on simple interest and depending on your interest rate it really wouldn't amount to much.

If you're interested in knowing the money breakdown of your current loan versus a refinanced loan I can calculate all of that for you as I have some of that software on my computer at work.

HTH
__________________

|
|

03 Rubicon | 36" Iroks | Chromo D44's w/Rear Spool | 5.5" RK LA | 5.13s | Armored Head to Toe
Scout is offline   Quote Quick Reply
Old 05-16-2007, 10:56 PM   #5
amy
Kalashnikitty

WF Supporting Member
 
amy's Avatar
 
Join Date: Aug 2006
Location: Spokane wa
Posts: 5,580
Send a message via Yahoo to amy
Quote:
Originally Posted by JCS05Rubi View Post
Or you could just save up that same amount (say an extra 50-100 a paycheck) and only pay 3,000 out of 3,000, and put the extra 1,000 into something else Not to mention you will appreciate the mods more since you worked for em.
Welcome to WF.

I agree with JCS ^. Plus, it'll give you a chance to see what your stock wrangler can do. My first jeep was stock and it took me just about anywhere I wanted to go.
__________________
Good girls go to Heaven. Jeep girls go where ever they want.
amy is offline   Quote Quick Reply
Old 05-16-2007, 10:56 PM   #6
Jeeper
 
amerijeep's Avatar
 
Join Date: Apr 2005
Location: Mississippi.
Posts: 3,951
Don't do it. You're giving yourself the shaft if you do. Pay off your jeep then save for the upgrades, unless you have other things that need to be paid.

Don't put yourself farther into debt, even if you can afford the payments. Save and pay cash.
__________________
To all who serve, Thank You.
amerijeep is offline   Quote Quick Reply
Old 05-17-2007, 11:52 AM   #7
Jeeper
 
ol'bob's Avatar
 
Join Date: Apr 2007
Location: Houston, Texas
Posts: 183
Welcome to WF. It definitly is a good and friendly place to be. I'll have to say i lean towards tiny and JCS and say slow/steady and save it up as you are able. Also saving as your able gives you a chance to really think over the mod you are intersted in. It just may turn out that before you have finished saving you have discovered a better product or a better deal.
ol'bob

__________________
2006 TJ - Warn bumpers front and rear - KC Slimlites - 2" bb - 1" bl - 31x10.5 BFG A/T's - and a few ideas.
ol'bob is offline   Quote Quick Reply
Reply

Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the Jeep Wrangler Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Thread Tools

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Ok so who is in Missouri? Levinoss Missouri Jeep Forum 437 12-04-2014 10:16 AM
TJ full hard doors - $750 (edit - Festus, Missouri) bmxstreet15 Classifieds Archive 6 05-31-2008 01:52 PM
Aloha from Missouri! Levinoss Off-Topic 22 10-30-2007 12:48 AM
Highly modified 05 Unlimited Rubicon - Missouri English Dave Classifieds Archive 13 05-14-2007 12:34 AM
Jeep Girl in Missouri katiejane WF New Member Check In 23 01-29-2007 11:49 PM



Download our Mobile App

» Network Links
»Jeep Parts
» Featured Product

All times are GMT -5. The time now is 10:45 AM.



Jeep®, Wrangler, Liberty, Wagoneer, Cherokee, and Grand Cherokee are copyrighted and trademarked to Chrysler Motors LLC.
Wranglerforum.com is not in any way associated with the Chrysler Motors LLC