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Old 03-06-2014, 05:13 PM   #1
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How do you pay for big repairs?

So last year I spent about $6K on repairs. Although I will admit to having a Jet Blue credit card, as a matter of principle I make every effort to avoid the credit card industry -- I'm convinced that no matter the perks, you will never enter into a worse agreement once you've read the fine print. All for the privilege of letting them make money on your purchases. I previously had an Amex for over 15 years but got tired of paying $350 every year when nearly everything they offer I can get somewhere else without paying a dime. My mechanic will actually take a check but maybe I'm not that old school... I once paid a $5K invoice in cash but that seemed like an unecessary risk, although I do carry a utility knife.

So how do you pay the big ones? bitcoins?

p.s.
on second thought.. investment account agreements that require you to give up your rights to bring action in civil courts (in favor of heavily pro-defendant arbitrations), in the event that they screw you over royally, are actually worse than the credit card agreements so I take that back.

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Old 03-06-2014, 05:45 PM   #2
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Liberian gold. I got an email from a deposed General from their Army who was holding it for their Treasury dept. I was able to "buy in" to this deal by sending $20,000 for 500 grams. They said that gold was selling for $1,400 per gram so I paid way under market price. Best deal I ever made!
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Old 03-06-2014, 05:52 PM   #3
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Last year when I got the motor done at LN I borrowed a 2.9% against the car It had been paid off with no debt, as of January it is again.
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Old 03-06-2014, 05:55 PM   #4
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Capital One, At least I can fly the family to a vacation destination every two or three years from the earned points. It works for us. We pay it off every month.
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Old 03-06-2014, 06:50 PM   #5
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Here's $7000 cash. Two weeks ago.

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Old 03-07-2014, 12:38 AM   #6
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Depending upon the work done, Beaver Pelts or Conch Shells............

Seriously, I always offer to pay cash if it results in a significant reduction of invoice or I personally know the guys (in which case I'm already getting a discount), otherwise it goes on the "Royal Caribbean" rewards Visa to keep the Mrs. happy with future holidays.
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Old 03-07-2014, 05:22 AM   #7
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My car is paid for so When the IMS and clutch needed to be done I just parked it until the money was available. It took three months to get around to but I am a happy camper again.
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Old 03-07-2014, 05:55 AM   #8
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With money of course...

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Old 03-07-2014, 06:10 AM   #9
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So far I am my own mechanic. I am really cheap like that.
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Old 03-07-2014, 06:47 AM   #10
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I try to work on my cars as much as possble from mechanical, electrical, to body work.

What did you repair last year that cost you $6K?
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Old 03-07-2014, 06:49 AM   #11
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By far, most of our customers pay with plastic.
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Old 03-07-2014, 08:03 AM   #12
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Here's $7000 cash. Two weeks ago.

This pic makes me laugh for so many reasons.
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Old 03-07-2014, 08:14 AM   #13
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The boxster, I've done pretty much all my own work so far. Our other vehicles, I have an arrangement with my mechanic whereby I hand him an envelope of cash and I pay a substantially reduced price. Shhhhh...
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Old 03-07-2014, 09:28 AM   #14
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This pic makes me laugh for so many reasons.
That went towards car parts and a new roof.

I grew up poor. Dad was a Union iron worker, our family car was a 65 beetle then a 78 Pinto wagon. Some lean times.

That was the second most cash I have ever held, and I felt a pic was indeed necessary. I have come a long, long way to be able to withdraw that.

Posted it because cash talks. I always carry cash and it often lowers the cost significantly.
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Old 03-07-2014, 09:50 AM   #15
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Buy all my parts online, do the wrenching myself with an experienced general mechanic who provides the lift and a tool room. I pay him by the day.
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Old 03-07-2014, 01:02 PM   #16
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People who ask for a large discount for cash seldom last long at my shop. I always say no. The cost of the transaction is built in and withdrawing large wads of cash does not impress me. You either have it or you don't.
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Old 03-07-2014, 02:09 PM   #17
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Actually credit is king. Credit is how wealth is leveraged. It makes perfect sense to have someone else float your purchases for 30 days at no cost while your money earns interest. Its all about playing the spread and if its good enough for banks, its good enough for me.

That $7,000 was really worth $7,018 (at about 3% for a month). Making almost $20 on a purchase for doing nothing? It can't get any ea$ier.
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Old 03-07-2014, 02:16 PM   #18
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People who ask for a large discount for cash seldom last long at my shop. I always say no. The cost of the transaction is built in and withdrawing large wads of cash does not impress me. You either have it or you don't.
I guess the term "large discount" is relative, as often than not I don't have to ask since shop owners outlay the difference up front, usually 15 to 20% discount for cash. Luckily for me it has usually been for paintwork since I do most mechanical work myself, I can fortunately count on one hand the number of times I've done the cash thing. IMO if you can save money and the shop owner can do the same with a green payment it's a win-win.

BTW....pulling out a wad of cash would generate a major eye roll on my end also, it would evoke images of Little Enos from Smokey and the Bandit.
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Old 03-07-2014, 03:39 PM   #19
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Actually credit is king. Credit is how wealth is leveraged. It makes perfect sense to have someone else float your purchases for 30 days at no cost while your money earns interest. Its all about playing the spread and if its good enough for banks, its good enough for me.

That $7,000 was really worth $7,018 (at about 3% for a month). Making almost $20 on a purchase for doing nothing? It can't get any ea$ier.
I'd rather help a small business with their cash flow than give those credit card rentier *#~^'s more of what they don't need and someone else does. I'm also moving my cash accounts to smaller non-TBTF banks and avoiding purchases from non-regional retailers in place of companies who keep the revenue/earinings local. If I want to make some money off the Bailed-out bank/credit card co. of the month, I'll buy the sector ETF.
OTOH...Help the local economy and jobs, increase competition. win win.
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Last edited by Perfectlap; 03-07-2014 at 03:41 PM.
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Old 03-07-2014, 03:41 PM   #20
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credit cards and tears

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