Sold FS: Sundown amps, BTLs, Blue Tops
- Thread starter Kenny Pollock
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why do you have so much bills at the age of 16? i read something about an accident but i dont know. i never had bills at 16
i have a sundown for sale since kenny cant decide wether or not to sell his //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif
OP
- Thread Starter
- #80
Got into a car accident... I don't have collision covered and the whole front end of my car was messed up. I decided it'd be better to fix the car then call it a loss.
Had to order most of the parts from the dealership... the hood alone was near $600, the trim piece for the hood was $200, all new headlights and all, which I got online for $400-$500, new light bulbs ($50).. Replacing hood/repainting hood and under hood components and installing headlights was $700, had frame pulled in the front and grille painted $200...
Instead of holding off on the audio thing and paying for this... I asked my mom for some help. She paid for the accident, told me to pay her back when I could... very nice of her to offer, and I took advantage of it. She also paid my insurance for a few months until my audio equipment was all purchased. I owe her near $5,000... she hasn't asked for it back much... it's no big deal that I pay her back NOW. Not to her, but it is to me.
That's quite responsible of you. If you sell off, you will lose and then change your mind and stuff. I am 23 and make ~$40k and I don't do the car audio thing like you did. You should be proud of yourself. But in the end, it will be for the better. You tried your hand and decided it wasn't for you.
Personally, I think you should try to trade your way to a nice Daily Driver setup. It took me over a year to realize that competing wasn't for me and I got the money to support it, so don't feel bad about it. I don't have the will power to build a loud system, but I haven't met a person at a show yet that executed a swaption. You do you and you'll be happy. Atleast you will always remember the experience.
Personally, I think you should try to trade your way to a nice Daily Driver setup. It took me over a year to realize that competing wasn't for me and I got the money to support it, so don't feel bad about it. I don't have the will power to build a loud system, but I haven't met a person at a show yet that executed a swaption. You do you and you'll be happy. Atleast you will always remember the experience.
OP
- Thread Starter
- #85
Pretty sure a swaption is when you pay off a loan and get the same loan again for something else... could be wrong though
In a way...you are trading interest rates. You are selling your interest rate thinking the fed is going to increase/decrease interest rates. It is an essentially a hedge against adjustable rate loans.
I guess a good example that you see is credit cards. Many credit cards have adjustable rates. What if I would guarentee you a rate of 10% when the current rate is 8%. You felt that rates were due an increase but (pretend, credit cards are easy, other types not so much) it is extremely costly to get out of the loan. What you would do is pay me a premium (or fee) to guarentee that you only pay 10% on the balance on the loan. If interest rates increase beyond that of the premium (or fee) I lose. If intrest rates stay the same then I win. (essentially you don't see an increase in interest payments and I walk away with the fee). These are contracts set up for certain periods.
I can only do it on a really small scale. I implement them with check cashers, like those who say who can write a check for cash and wait 14 days or whatever. After a while, people get behind and the interest rate increases (although these places call it a fee) I get a premium (usually electronics or something I can sell) to guarentee a fee (I make up the differrence in cash) but I also 'take over' their finances for a week or two (I give them an allowance) and ensure the debt is paid. It is not a real swaption as in the customer does not understand the interest rates involved, but it is as I serve as a go-between to mitigate risk for customers. Again, this is high risk for me as they could simply rob me and take the premium back. I only have a few customers because of this.
Something I can do on a larger scale is simple trading stock options. It's fun, exciting, and will make an atheist pray to God. If you want more info, let me know. I love this kind of stuff.
Right, my comment was about him discovering the competing may not be for him. I was encouraging him to find out things that work for him.
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