Buying buggies

[TacomaJD]

If you can pay for toys in cash, congratulations because you are likely more successful than the majority of the people in teh sport. Us little guys count as people in the sport also. Nothing wrong with it at all, in fact, I agree that paying for toys in cash is the best way to do it....if it is feasible in ratio with your budget. With that being said, to simply state that as the answer to one's question such as the OP's, is a bit naive imo. Then again, asking how you afford something could be a sign that you may not be able to aptly judge what you can and can't afford regarding borrowing money from a bank lol.

Either way, there is no single right answer, because everyone's situation is 100% different than the next guy's. BUT....stating to never finance toys is like "that guy" that always says "Well just put an Atlas in it" "Go to a v8 and tons with xxxxxx brand name everything" ****, some of us can't afford to **** out $3k+ left and right everytime something breaks or needs improving. And I don't wanna even get started on the "well, you gotta have deep pockets if you wanna wheel" That statement just pisses me off. :****:

 

[TacomaJD]

I think financing is part of why the UTV market is so hot. I often laugh when I hear someone paid 16k for a SXS, thinking I could buy a clapped out YJ and build a more capable buggy for that $. But you cant just walk into the bank and say "I want a loan to build a buggy" -but you can easily finance a UTV...

THIS!!! And some of them are more than $16k straight off the showroom!

 

[pholmann]

I've been doing this for about 15 years. I wheel and deal and buy and sell to get what I want or need. I just never sell anything that could be useful on another build. I now have 2 ton crawlers, well one under construction and the other complete. Both of which are paid for. I just thousand and hundred dollar **** to death until it's done. Side jobs also help. As for my diesel truck and trailer, that **** has been paid for quite some time. It was financed at one point though. Plus the misses and I can't have kids to have to pay for so that helps.

 

[stroyer]

I financed my first jeep, built it, then was afraid to break/wreck it as I was still paying on it. Been wheeling & dealing finding parts for my buggy and building it myself. Time consuming but have been paying cash for everything. Good deals out there if you can have the patience. I bought a 5.3 with 110k for $250 from LKQ and will upgrade once I have it fine tuned. I'm splurging on axles from the get go, as I feel those will far outlive any other components.

 

[bobo]

I'm with the cash only for toys crowd here.

My wife and I got on the Dave Ramsey band wagon 2.5 years ago and will be debt free (other than our house) by March 2014. We have had 2 kids in that I me frame as well. We pqy cash for everything now including new to us vehicles. Best thing we have ever done. Amazing how much stress money or lack there of can put on a relationship.

I have a 1 ton jeep on 42's. Bought basically built for a song and upgrading as funds allow. Don't get to ride as much as I would like but as D.R. says "Live like know one else now so you can live like no one else later".

IMHO the whole borrow for everything/keep up with the Jones thing is what has our country where it is today.

My $0.02 for what its worth.

 

[kturner]

A smart man once told me, no matter where you are in life you should never have youre house paid for and have a car payment. Borrow money against youre house for that car , at least then you can write off the interest at the end of the year.

 

[xjpaddler]

I think financing is part of why the UTV market is so hot. I often laugh when I hear someone paid 16k for a SXS, thinking I could buy a clapped out YJ and build a more capable buggy for that $. But you cant just walk into the bank and say "I want a loan to build a buggy" -but you can easily finance a UTV...

This is exactly what im talking about!! I had a buggy that i had sold, paid of a few things and helped out my daughter.
I had the opertuneity to buy it back, and make money on the deal, but could not get a loan on the rig itself. I could borrow aginst my truck, house, camper, lawnmower, cat, dog, neighbors wife, anything but the buggy itself!!!!

Then to really piss me of i come home to damn razor!!! Wife just walked in and drove out!! Lol!!

John i agree cash would be the best, i was just curious how others were makeing it happen.

Adam, did the bank itself do the apraisel??? Insurance i coyld get, but none of the local banks, includeing the bank i have been a member with for 20+ years, would even consider it.

 

[xjpaddler]

Spend your money on tools and build it yourself

I would rather build myself!!! But it will be a while before i can build my own.

 

[TacomaJD]

Re:

This could turn into a massacre of an argument. It's difficult for me to refrain from being entirely overly defensive against those that are so biased toward the "pay for it in cash mindframe."

 

[SomewhiteGuy]

I paid cash while building mine for everything until the deadline started getting short to riding season, I pulled a loan on my 401k to finish it out and made a year of payments to my self with intrist.
I have been wanting to buy a rzr for a while now and the wife is even cool with it but just can't bring myself to have a car payment sized loan on something I know I can break in half. :****:

 

[Elliott]

A smart man once told me, no matter where you are in life you should never have youre house paid for and have a car payment. Borrow money against youre house for that car , at least then you can write off the interest at the end of the year.

No offense but that is crazy, Say things went terribly wrong and you got sick and lost your job and couldn't make your payment You would loose your house but keep your car, that makes no sense. And we spend more money in interest on our houses by the time they are payed off than anything else we ever buy. Common sense tells me to pay my house off as quick as I can.

 

[leeman1790]

I have often wondered how the F people are coming up with the cash for these 60 70 80 90 or 100,000 dollars buggies. I know alot of pretty well off people that don't just have that much cash laying around to
throw out for a offroad rig. Building a rig is a different story, cause you dont need it all at once...but buying them outright is what i wonder about.

 

[The Luke]

Re: Re: Buying buggies

I just thought everybody owned carwashes??

 

[tonybolton]

Re: Re: Re: Re: Buying buggies

I just thought everybody owned carwashes??

Lmao!

 

[bradzuki]

Re: Re: Buying buggies

I just thought everybody owned carwashes??

Easy there. Fastest way to get labeled a "hater" or someone to point out that you didn't make good choices in life.

 

[Rokcrler]

Re: Re: Buying buggies

Or chicken farms? :****:

 

[al1tonyota]

Adam, did the bank itself do the apraisel??? Insurance i coyld get, but none of the local banks, includeing the bank i have been a member with for 20+ years, would even consider it.

No a third party did the appraisal. The bank actually did research to check the prices of some of the parts! Everything was fine even the "custom" vin but they didn't have a rate for 400hp so they canceled the policy after a year? It was titled as an atv custom chassis.
5 yr note 4.25%

 

[lowbudgetjunk]

I am with John on this one. John didn't have 38 Special when he was 20 and he upgraded to Solo Buggy when money allowed.

Look at my screen name. I wheel what I can afford and hope to get to what JohnG wheels by the time I am his age. In the mean time, I had just as much fun wheeling with him, bad80cj, Gary Smith, Landspeeder, MuddinMetal and the rest this past weekend. And that was with my toyota sitting on the sidelines with a cut down tire.

As for getting the big dollar buggies and being competitive at a really young age. Without sponsors and a big bankroll, I think it is risky. Do the benefits out way the risk? Lots of differing opinions I guess.

It was fun to see John out wheeling with Eric and having so much fun in the cheapest rig that was on the trails. Not to mention he was warm and dry.

 

[TacomaJD]

Re: Re: Re: Buying buggies

I have often wondered how the F people are coming up with the cash for these 60 70 80 90 or 100,000 dollars buggies. I know alot of pretty well off people that don't just have that much cash laying around to
throw out for a offroad rig. Building a rig is a different story, cause you dont need it all at once...but buying them outright is what i wonder about.

Inheritance, life insurance, or married into money? Just some things that are not uncommon.

 

[tonybolton]

Re: Re: Buying buggies

I always loved dealin with the Bank of M & D, but seems like when I turned 18 they all shut down and cant find other branches!! 0% interest and real flexible payments....if any at all ;D


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