RX8 roastable reliable affordable

[APEXMX5]

I love my RX8. It is one of the best driving cars IMO. I also love to roast and this is a problem because the stock RX8 is not really roastable. I know how rad it could be from driving in the snow so I must have roastability.

after much deliberation and weighing costs I have chosen a powerplant. It came down to 2 final choices. ported 20b single turbo v. cammed ported GM LS V8.

for cost reasons and weight reasons the V8 has won out as the motor of choice. (turbo 20b engines are not as light as you may think)

This thread is for making sure every step is done in the best manner I am capable of. Any suggestions are welcome on any and all phases of the project.

Phase 1: Financing
Phase 2: Engine/Trans Purchase
Phase 3: Supply/misc Purchase
Phase 4: Teardown DIY
Phase 5: Fab/Install/Start DIY
Phase 6: Renesis swap sell off/cost recovery
Phase 7: Pay off financing and improve credit


The idea is to use credit to purchase all the parts, supplies, and material needed all at once in the beginning. This is to reduce the down time to a minimum. Once I have everything on hand I will start on the project and work like mad until it is done. Once the car is back on the road I will begin selling the stock shiz to pay off the credit cards. I dont want to pay very many payments so I hope this doesnt take more than a couple few months once I start purchasing parts.


Hokay. Financing. I have a couple low limit CC's total availibility maybe 1,500.00. I think I am gonna need more haha! I would like to find maybe a 5,000 to 7,000.00 limit card.

I am looking around places like creditcards.com but any suggestions would be helpful.

[zero.offset]

http://www.credit-land.com/1050/1050_page_12779_23254_180.php

[MattCHEW]

Sounds like you kinda have your mind set on using a credit card, but going in debt to mod a car is not a smart thing to do

[zenkiderek]

he actually has it planned out really well. we talked about this for a good 10 minutes. he's selling a bunch of his rx-8 stuff that people are willing to pay for. so some of it will pretty much wash out.

[zero.offset]

Sounds like you kinda have your mind set on using a credit card, but going in debt to mod a car is not a smart thing to do


putting yourself in debt over cars in general does suck.

but putting yourself in debt to build a car that will be reliable and competetive in formula d...... priceless!

[CRIMES]

have you thought about a personal loan from your bank?

[DubstepDave]

^^ this is the way i'd go. i did the credit card thing once, and trust me, you don't want to go that route.

[APEXMX5]

debt can be manageable. its how I got my truck, my rx8, my tools. the pressure of debt forces me to stay focused. I cant blow my cash partying and recreating if I am obligated by financial commitments. I suck at saving but I can pay bills. This way makes the car a monthly bill lol! It also has the advantage of getting me going this year.

The cost recovery phase is supposed to pay down the cards and the tax refund next year should pay it off.

[DubstepDave]

but still, why not go the route of a personal loan through your bank? you will have lower interest and most likely lower minimum payments, so that if for some reason you do get into a bind, you don't get behind and have to pay all sorts of late fees, etc.

[APEXMX5]

If that was a possibility I would.

[Jserman]

buy LS motor you mean LSX (corvette,GTO,camaro) motor or the cheaper I think L33 the truck motor???

[APEXMX5]

LS(X)

X=1,2,3,6,7 etc...

[DICKARM]

Since when someone mentions "gm ls v8" I automatic refer myself to the L33 truck motor

[APEXMX5]

well lets just say I am gonna put a lot of power in the car.

it will have 8 pistons
it will be be made of aluminum
it will be from a GM vehicle

so whatever thats called.

[zero.offset]

^^^ i believe it is reffered to as "rad as fuck-shit!"

[DICKARM]

well lets just say I am gonna put a lot of power in the car.

it will have 8 pistons
it will be be made of aluminum
it will be from a GM vehicle

so whatever thats called.

i knew what you wer talking about, just not the other guy

[APEXMX5]

Rad shit boyz!!! I have figured out the financing end of the project so I should be able to move on to phase 2 by October and actually acquire what i require lol!

I found a local buyer for my Renesis drivetrain which gives me enough to put the rest on the CCs I already have; provided I pay them back down a bit. I reworked my budget to be able to do this shit in 4 months.

I am going with the LS2 and I want to put down 450 to 500 hp and tq. Now I need to make sure I am 100% educated on the LS2 and the T56. I dont know much so the next 4 months I will use this thread for a LS2/T56 crash course.

[DICKARM]

you need to talk with cale (calebot) about that shiz, he's got some pointers i bet

[polishpat]

I haven't even read the rest of the posts, but I'm going to say what I have to say.

First off, if you have several cards, all amounting to only 1,500, I'm guessing your credit score is not so hot.

If you have a decent enough score to be able to apply for more cards, you will just continue to hurt your credit, especially once you start maxing out your cards, let alone go over 50% of your total credit limit.

Even if you ARE able to get a credit card with such a high limit, you know they're going to charge you a high APR, and that in itself will hurt you because a 7,000 loan will take quite some time to pay off, because obviously if it wasn't hard to pay off, then you would just save your money and buy what you WANT when you have the money saved.

By the way, if you want more money and have a good payment history, call your CURRENT card companies, and ask for limit increases. That way you're not hurting your credit all over the place, yknow.

...But then again that's just me being the voice of reason. Do what you will, and I look forward to seeing your project completed one day :)

EDIT: After reading the posts, Crimes and Dave are right. Personal bank loan is best way to go. ...I'm kind of wondering why you say it's not an option? o_O

[APEXMX5]

its not an option because of job history, not much time at any job. my score is high 600s and my CCs total a 3300$ limit but only about 1500 is avail. That is why I need to pay them down. I have 3 cards. each @ about 50%, I try not to ever go past 50% unless I know I will pay them off quick. My current creditors want me to have less accounts before they will increase limits.

None of this matters because I have a buyer for my stock shit, and thats makes the remaining cost affordable w/o maxing my cards... if I pay them down first. I could do it now if I maxed them out, but I dont like doing that.


the financing is all mapped out now.