I am trying to weight the pros and cons of buying a built motor'd Lightning and I am struggling with the decision ALOT. One minute I want it, the next minute I feel that I may be jumping from the frying pan into the fire. Give me your take on this, what would you do?

With that said, here is the situation I am facing:

I want to buy a very tastefully done Lightning that is for sale with a built motor (JDM), converter, ect ect already installed. This truck does not have a KB or MAF to feed the built motor FYI. The GM of the dealership I work for has agreed to buy this truck outright for me and sit on it for a few weeks while I get my truck back to somewhere near stock and transfer my expy center console, gauges, wideband ect ect over to new truck. (he is a great guy and friend)

I would then trade my truck in against this truck and be on me merry way. However there is a big money difference involved because I am a little "upside down" on my truck and the other truck is way over normal loan values. I dont really have the cash to throw at it to be even able to get the new truck financed (loan to value). This would entail me basically selling my KB, maf, inj, ect ect ect and putting a good size down payment on my CC just to get financed and then I would be 7+K upside down in this truck and if I get into trouble financially im screwed. Its not like I could part out the built motor easily or quickly.

I already have a VERY fast truck, it makes over 500hp+/600trq+ to the wheels, but I am at the edge with my stock bottom end and its probably just a matter of time before something happens. My truck will easily go into the 11's on the pump gas with a very safe tune. The difference basically boils down to the fact of the built motor, we have similar mileage and both trucks are the same year.

I value the opinions of many of you folks and I really need the input from you!!!

Bob

PS. I am not selling any of my mods at this time. I will cross that bridge when and if the time comes.

 

It would be ridiculous to do what you're proposing.

Why not just put a built short block on your credit card and leave it in the garage while you slowly add heads, cobra pump etc... to it with real cash.

It's not the most financially sound thing one can do but it's more sound than the whole upside down trade thing and not to mention it's a lot less of a pain in the *** than parting out your current vehicle.

 

A built truck is not worth more . We all know mods have very little value if any when selling. I would just keep what you have and save for a built motor for it. The truck you have is a known quantity you know whats where and why, someone elses truck you have to figure out why they did things and what might be wrong... Just my opinion

 

If you'll wnd up that far upside down, why not just add a built lower to the mix you already have on your truck? My JDM short ran me less than $4200 shipped to my door and there are other options too. JLP make a good lower and Johnny was willing to work with me on good core exchanges. If you have a non-holed block with a good crank and all the pieces where they should be, you could 'sell back' some of that and be easily in the less than $3000 area.

Besides, you've already modded two trucks with the parts your running now - do you realy want to swap all that over again to be in another truck (not necessarily a better one) and have to start collecting all over again?

My suggestion would be to stay with want you've got and add the lower to it.

Herb

 

Bob, I think it's a bad idea. I think you should sell your truck and buy my turbo beast .

 

I wouldn't do it. keep your existing truck and build it over time.....

 

Bob, big mistake brother. Do yourself a favor, step back for a few weeks, and leave the truck alone. It will make sense then.

Worst-case scenario, call up VT, pick up a built lower, get a couple cases of beer, and call me. I will drive up there and help you install the lower end. Save you some cash, at least, and get me drunk at best!

All jokes aside, bad investment, bad returns.

joe

 

That right there would scare me into not doing it.

 

sounds like your digging yourself a bigger and bigger hole. Stick with what you got.

 

i agree with the consensus. CC debt very bad. paid off truck good. no "emergency" fund bad. buying "built" truck that goes "boom" and really leaves you in deep ****, very very bad. there's probably a happy medium here somewhere here. this built truck could go boom just as easily or quickly. think on it.

 

Thanks All

I am going to talk to the owner of the truck and withdraw my offers. You guys are right I am just going to stick with what I got.

Bob

 

Good call. You know your L inside and out. I spent a few hours at Burger King on Saturday hoping to run into a few L’s there was a DSG over on the side but none of you KB guys. We moved away after Ivan. It was the first time seeing the island. I was shocked how bad it still looked

 

Well Bob, believe it or not, I agree with most of the opinions posted above.

As alot of folks here know, due to a number of reasons, including some stupid decisions on my part, I was in a BAD financial position this time just last year. I was in debt (credit card & other) up to my eyelids, I was making less money at work than I had been a year before, you name it, I was upside down. THEN my Lightning's motor blew up...


It took help from friends, acquaintences, strangers, family, and finally the selling of my house to correct my financial situation.

I'm happy to say that I'm now debt free, I paid off and cut up all of my credit cards, somehow my credit score is back up in the EXCELLENT range, and I've even got a little money in the bank for a change.

I'd like to think that I learned alot from my mistakes.

Believe me, it's much nicer on this side of the fence.

Unfortunately, I'm still without a house, which in a "round-a-bout" way is what started this particular thread to begin with.

All the same, I think you made the right call.

It's too bad though, I'm sure you would have enjoyed the truck. and I would have enjoyed knowing it was going to a good home.



take care.

sincerely,
chris haynie

 

Thanks Chris -

I did not mention it was your truck I was considering, I still would really like to have that bad boy sitting in my garage but I do not have the resources (cash) at the moment to pull it off. I could use the CC to make it happen but that scares the hell out of me.

Bob

 

Good choice Bob. I love my truck but when i bought it,however it was a very bad financial decision. Traded in a car that i lost my *** on, and my downpayment was only enuff to cover the inequity. Glad you did not do the same. Youll thank yourself later no matter how much it bothers you now.

How much inequity would you have had in your current truck?
i.e. the diff between what you owe and what the dealer would give you for it.