What did you do to your Supra today?

[PowerGetter]

If you pulled money from a regular checking or very low yield savings account then good choice. If you liquidated an investment, even if earning less than the rate you were paying on the Supra, then it was likely not the best choice. Interest on a car loan is applied to a decreasing balance while investment yields are on increasing balances (generally). In most cases you end up earning more in your investment accounts than you pay in interest over the course of a car loan. I used to do F&I and could literally show people the math of how at the end of a 5 year car loan at say 7% the customer would have more net money if they kept their 5% 5 year CD instead of cashing it in and paying cash for their car. Probably 80% of customers couldn’t grasp the concept and cashed in the CD/other investments to pay cash, some actually accused me of lying, and only a small handful were like damn, you’re right, thanks for showing me this. Of course, this assumes you can afford the payment from current income but if you can’t you likely aren’t getting approved for a loan anyway.

I usually leave a years worth of cash in a high yield savings, so I used a portion of that to pay the car off. Didn't touch investments or retirement I have good credit, but the addition of the car added to my debt/income ratio so my interest on the car wasn't favorable at all. I obviously need to build the savings back up to a comfortable cushion again, but that's ok. Good advice all around though!

 

[Andrew4Supra]

Decided to the pay the car off. Over the course of the year I've "owned" the car, the interest being paid just felt criminal so I decided to pull some money out and just get rid of this burden of a monthly payment. Freedom feels great. Happy thanksgiving yall.

ditto. title in hand. love having no payments.

 

[FLtrackdays]

If you pulled money from a regular checking or very low yield savings account then good choice. If you liquidated an investment, even if earning less than the rate you were paying on the Supra, then it was likely not the best choice. Interest on a car loan is applied to a decreasing balance while investment yields are on increasing balances (generally). In most cases you end up earning more in your investment accounts than you pay in interest over the course of a car loan. I used to do F&I and could literally show people the math of how at the end of a 5 year car loan at say 7% the customer would have more net money if they kept their 5% 5 year CD instead of cashing it in and paying cash for their car. Probably 80% of customers couldn’t grasp the concept and cashed in the CD/other investments to pay cash, some actually accused me of lying, and only a small handful were like damn, you’re right, thanks for showing me this. Of course, this assumes you can afford the payment from current income but if you can’t you likely aren’t getting approved for a loan anyway.

I’m sure you see the worst of the worst at car dealerships. Hopefully most guys “buying” Supras can afford them in the 1st place. Like Randall & Andrew, I paid mine off as well. Knowing this is a depreciating asset, using cash reserves is likely more common.

Since CDs have prepayment penalties, they are not considered fully liquid. So you’re right in that aspect if that was their only choice. However, if a client moved one of their cash investments into a CD, in anticipation of purchasing a car at the maturity date, then that would make a more sense.

At some point in life, your liabilities (other than primary residence) shouldn’t be tied up in any loan, paying interest to a bank. You loose the ability to invest in other opportunities. That’s why we all have emergency funds (3, 6, 12 months of income) and fully liquid cash investments that is a percentage of our net worth. That should be part of anyone’s portfolio.


Oh yeah…. I bought the xHP transmission tune, downloaded the app, went to get the software code and realized my car is at the auto spa ? again getting some minor adjustments for her next track weekend ??‍

 

[TSmkV]

I’m sure you see the worst of the worst at car dealerships. Hopefully most guys “buying” Supras can afford them in the 1st place. Like Randall & Andrew, I paid mine off as well. Knowing this is a depreciating asset, using cash reserves is likely more common.

Since CDs have prepayment penalties, they are not considered fully liquid. So you’re right in that aspect if that was their only choice. However, if a client moved one of their cash investments into a CD, in anticipation of purchasing a car at the maturity date, then that would make a more sense.

At some point in life, your liabilities (other than primary residence) shouldn’t be tied up in any loan, paying interest to a bank. You loose the ability to invest in other opportunities. That’s why we all have emergency funds (3, 6, 12 months of income) and fully liquid cash investments that is a percentage of our net worth. That should be part of anyone’s portfolio.


Oh yeah…. I bought the xHP transmission tune, downloaded the app, went to get the software code and realized my car is at the auto spa ? again getting some minor adjustments for her next track weekend ??‍

Considering the xHP also. Would love to hear your take once installed.

 

[TSmkV]

Considering the xHP also. Would love to hear your take once installed.

EDIT: Just found an entire thread on xHP performance and feedback…I’ll look there!

 

[Gabe]

Punched another hole in the hood. .

 

[Rensuhlo]

Did some night Touge with Bridgemoto.

 

[Gabe]

Installed the Verus wheel vents. I’m already feeling faster. I think they give you at least 13 extra hp. ?

 

[sojusoulja]

Installed the Verus wheel vents. I’m already feeling faster. I think they give you at least 13 extra hp. ?

Can you post more pics? Dont see it up on their site. How much are they going for?

 

[Gabe]

Can you post more pics? Dont see it up on their site. How much are they going for?

This is a Pre-production run. They are gonna go for about 1000.

quality is too notch. Every side has 2 pieces and they go very well with each other.

I was able to install them without instructions, as of now there are none.

I will post a YouTube with the install process

Does not allow me to post videos.

 

[razorlab]

This is a Pre-production run. They are gonna go for about 1000.

quality is too notch. Every side has 2 pieces and they go very well with each other.

I was able to install them without instructions, as of now there are none.

I will post a YouTube with the install process

Does not allow me to post videos.

RIP your windshield. Also, $1000 for trash cans? lmao.

 

[Gabe]

Can you post more pics? Dont see it up on their site. How much are they going for?

 

[Gabe]

RIP your windshield. Also, $1000 for trash cans? lmao.

T-5 days to test. I don’t think I am that fast that the windshield is gonna break ?

 

[Andrew4Supra]

Maybe it's just me but I not certain what the benefits are of cutting a hole in your hood ... only to expose the top of the tire through the hood?!? Am I missing something?

 

[Gabe]

To me, working my hands doing stuff is benefit enough. Although I take this car to the track, I’m not chasing shaving tenths of seconds with everything, (my engine is stock), and when I go to the track I just plan to have fun for a couple of days here and there.

In the era of internet, people take other people’s stuff too seriously. Besides fun, this car does not represent anything else to me, is not my daily, I’m not looking to compete with anyone, So Let’s call it fun in the garage!

Im also fixing a 1967 WW beetle…. For no reason in particular, If I would post it here someone would not be happy about it.

not everything has to make sense.

There is even a pink Tesla here at home. ??‍!!!