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Tell us how you paid for your FFR... Take the survey on the front page: www.ffcars.com
[ August 02, 2002, 12:15 AM: Message edited by: Bill ]
[ August 02, 2002, 12:15 AM: Message edited by: Bill ]
New survey - how did you pay for your car?
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Long one.
Well first of all, when I ordered back in Nov 2000 there was a 6 month waiting list. I was in love (not just with the car) with my girlfriend at that time (Fiancee Later, Wife and Mother of my child now - I work quick on everything but my car.)
Well I was shopping for Engagement Rings while wanting to get the FFR. Finally I broke down and ordered the Kit and sent in a Check for $1000 to FFR. The next day, I broke down and bought the ring on Credit which I paid off just before the 0% 6-month time period ended.
Six months later, FFR wants their $15,000 (I had a few upgrades
) I didn't have the cash as the market was and still is tanking. So 0% interest 1yr Credit Card Check for $15,000. I hope the credit card company was happy about that.
The next thing that happened was I had an uninsured motorist fail to yield the right away (some dumb ass pulled out across the road infront of a Flat Nosed Bus as I was going along side the bus which was stopped.) I T-boned her at about 45 MPH sending her vacuum cleaner flying out the back end of her '72 Ford F150. This totalled my '97 Bonneville, thankfully nobody was injured. I got $16,500 out of the boneville $2000 went for the remainder of the car note and the rest went to pay for the Cobra Kit.
Then I took out a loan to get my pickup truck so I could haul parts.
As for the other half of what the car's costing me to build, I pay for it a little at a time.
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TAZ
Well first of all, when I ordered back in Nov 2000 there was a 6 month waiting list. I was in love (not just with the car) with my girlfriend at that time (Fiancee Later, Wife and Mother of my child now - I work quick on everything but my car.)
Well I was shopping for Engagement Rings while wanting to get the FFR. Finally I broke down and ordered the Kit and sent in a Check for $1000 to FFR. The next day, I broke down and bought the ring on Credit which I paid off just before the 0% 6-month time period ended.
Six months later, FFR wants their $15,000 (I had a few upgrades
) I didn't have the cash as the market was and still is tanking. So 0% interest 1yr Credit Card Check for $15,000. I hope the credit card company was happy about that.The next thing that happened was I had an uninsured motorist fail to yield the right away (some dumb ass pulled out across the road infront of a Flat Nosed Bus as I was going along side the bus which was stopped.) I T-boned her at about 45 MPH sending her vacuum cleaner flying out the back end of her '72 Ford F150. This totalled my '97 Bonneville, thankfully nobody was injured. I got $16,500 out of the boneville $2000 went for the remainder of the car note and the rest went to pay for the Cobra Kit.
Then I took out a loan to get my pickup truck so I could haul parts.
As for the other half of what the car's costing me to build, I pay for it a little at a time.
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1,852 Posts
2500 deposit credit card (millage plus =2500 miles!)Had previously saved the balance and sent cashiers check
TEC
TEC
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7,097 Posts
Teach college at nite and lumped the rest into a Home Equity loan as I have to build an all season room for the wife. Hey she has her project & I have mine!
I was gonna buy a house for rental income, then I got bitten. My house down payment turned into a cobra fund. Still have a line of credit for half of the cars value. I make a payment every month but it seems like one step forward, two steps back. Now I am stuck living at home, at age 23, building a cool car in the old mans garage. He is still pissed I didn't buy a house. He used to be a hot rodder, now he says,"I've spent my years on garage floors, don't wast your money on cars, just buy one and drive it."
Thats my story,
Cheers Chris
Thats my story,
Cheers Chris
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4,275 Posts
I wrote an Excel spreadsheet trying to figure out how I am going to save that much cash, and still pay my mortgage. Turns out I will need to find a second job (nights).....Currently, I should be ordering sometime in May or June of next year. Damn time goes by slow! Guess I will be spending my time removing/rebuilding parts from the 92LX donor I've already purchased!
Cheers!
[ August 01, 2002, 05:35 PM: Message edited by: Rickster ]
Cheers!
[ August 01, 2002, 05:35 PM: Message edited by: Rickster ]
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156 Posts
I wrote a check for the kit. I am trying to limit myself to $300 per week for the other stuff (not including the donor that I bought a few weeks ago). The $300/week deal costs extra on freight or I have to wait several weeks to order stuff in but it makes me more careful with the money. I have to stay out of Harbor Freight Tools or I will never have enough $ to finish. I may have to doing something horrible in the store so they will get a restraining order to keep me out and I can spend more on the Cobra.
Mike
Mike
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1,114 Posts
I'm planning on saving until April 2003. By then, I should have a fair amount of money saved up (read: enough for the kit+options and the parts needed immediately).
I am planning on paying for the build using my HELOC. This way, I don't tie up my saved up cash in making large, lump sum payments (read: continue to accrue money market interest) and I'll use the saved up cash to make incremental payments on my HELOC. The net amount of interest I pay should be fairly low and my cash stays liquid. The key is to not borrow more from HELOC than you have saved up!
That's the plan anyway, we'll see how it goes. Hope this helps.
CJ
I am planning on paying for the build using my HELOC. This way, I don't tie up my saved up cash in making large, lump sum payments (read: continue to accrue money market interest) and I'll use the saved up cash to make incremental payments on my HELOC. The net amount of interest I pay should be fairly low and my cash stays liquid. The key is to not borrow more from HELOC than you have saved up!
That's the plan anyway, we'll see how it goes. Hope this helps.
CJ
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8,267 Posts
I sold a 65 Mustang I had restored and an old VW based 1932 Alpha Romeo kit that I had thrown together off and on for years for the kit. Saved up for the rest, did my own body and paint.
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In 1994 I bought, and financed, my first Cobra, an LAExotics. I put in a 390 with an auto, loved to drive it every were. I drove it for seven years and 40k miles. I had a lot of requests for my convertable top from FFR owners so I decided to sell my LAE and buy an FFR to be able to built tops on my car, which will fit any FFR.
I sold the LAE, paid cash for the FFR MK-II kit, the donor Mustang ('88 GT 5.0 HO five spd. and five lug disc brakes all around) and still have enough for leather interior, the wheels and tires I want, and several other options that I am going to add during the build.
BTW, Paying cash (not from savings) is not one of your survey choices.
[ August 01, 2002, 06:33 PM: Message edited by: CRZN427 ]
I sold the LAE, paid cash for the FFR MK-II kit, the donor Mustang ('88 GT 5.0 HO five spd. and five lug disc brakes all around) and still have enough for leather interior, the wheels and tires I want, and several other options that I am going to add during the build.
BTW, Paying cash (not from savings) is not one of your survey choices.
[ August 01, 2002, 06:33 PM: Message edited by: CRZN427 ]
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