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Regular Contributor
Siopao
Posts: 125
Registered: ‎03-09-2013
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Re: Need advice...Please be nice

I just want to know what kind of car it is :smileywink:

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Valued Contributor
thom02099
Posts: 1,334
Registered: ‎08-30-2011
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Re: Need advice...Please be nice


Siopao wrote:

I just want to know what kind of car it is :smileywink:


Inquiring minds wanna know ...! ! ! !

 

 

Audi A6/A8?

 

Beemer 5 or 7 series??

 

Jaguar XF??

 

Lexus or Infiniti???

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stealthc63
Posts: 34
Registered: ‎12-02-2012
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Re: Need advice..Please be nice

Nope....I went for the all American muscle. Corvette ZR1. Just to clarify I never said I make 90k....I said approx 80k. To be exact I make 77.5k which if you divide into 26 paychecks per year comes out to $2,980.76. After good ol' Uncle Sam does his magic trick I clear roughly 2k per check. Subtract rent, utilities, cc bills, food etc I'm not left with much at the end of every month. I think I'm just gonna ride it out the rest of the year, use my tax return which is usual 4k to pay down my cards then apply for a consolidation loan to pay off the cc's after my bk clears. I just can't part ways with the car at this point in time.

Valued Member
thirst305
Posts: 64
Registered: ‎03-03-2013
0

Re: Need advice..Please be nice

Where is the gratification of enjoying a nice car if you're financially barely getting by?  Is it a strain when you buy gas?  Do you think twice about driving it because your tires are wearing quickly and you might need to get new pads + rotors soon?  Have you budgeted maintenance?  

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Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011
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Re: Need advice..Please be nice


thirst305 wrote:

Where is the gratification of enjoying a nice car if you're financially barely getting by?  Is it a strain when you buy gas?  Do you think twice about driving it because your tires are wearing quickly and you might need to get new pads + rotors soon?  Have you budgeted maintenance?  


This.  Wait until you have to spend $1k for tires, and it will be soon as 15k-20k is about the most you are going to get.  If the numbers you gave are accurate, sell the car.  Take the profit and put as a DP on a car you can actually afford.  If you are barely able to pay the minimuns now you aren't going to be able to make those payments once 12%-20% interest starts to kick in.  I understand you love the car but it's going to cause you financial ruin.

Valued Contributor
tcbofade
Posts: 2,415
Registered: ‎09-26-2011
0

Re: Need advice..Please be nice


stealthc63 wrote:

Nope....I went for the all American muscle. Corvette ZR1. Just to clarify I never said I make 90k....I said approx 80k. To be exact I make 77.5k which if you divide into 26 paychecks per year comes out to $2,980.76. After good ol' Uncle Sam does his magic trick I clear roughly 2k per check. Subtract rent, utilities, cc bills, food etc I'm not left with much at the end of every month. I think I'm just gonna ride it out the rest of the year, use my tax return which is usual 4k to pay down my cards then apply for a consolidation loan to pay off the cc's after my bk clears. I just can't part ways with the car at this point in time.


OK, that gives you roughly 4K per month.

 

Rent is 1k?

Utilities are 300?

Groceries are 600?

 

I promise, I'm not trying to be mean, but I don't think that you're being honest with YOURSELF....

 

You don't have to post it here, but write a budget down on PAPER and see where your dollars are going...quickly.  :smileyhappy:


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Valued Contributor
Gunnar419
Posts: 1,183
Registered: ‎01-23-2013
0

Re: Need advice...Please be nice


stealthc63 wrote:

I'm going to try and make a long story short here. I recently traded in a car that I was about 12k upside down on for a car that was priced 20k below blue book. I couldn't pass up the deal. Not only did I get a better car but I am now 8k ahead of the game.


Whatever you decide to do about the car (and I'm with those who think you should sell it ASAP and for the next few years at least just drive a used car that provides basic transportation and not "validation"), you'll do yourself a favor if you follow the budget-on-paper system another poster suggested. You need to give yourself not only a budget but a stern reality check.

 

Here's what I'm hearing from your posts:

 

* You've already been bankrupt once.

 

* You already bought at least one vehicle that put you in a bad spot ($12k under water)

 

* You not only just bought another vehicle that's put you an an even worse spot because of that crazy cc debt, but you're telling yourself that you're "$8k ahead" when in fact you lost a huge chunk of that value the moment you drove the thing off the lot.

 

This is delusional.

 

I get the emotional appeal of cars, but there are plenty of ways to satisfy an emotional itch without spending your life on the crumbling edge of a financial cliff. Sell the car. Try a different lifestyle for a while. Above all, make yourself look at the reality of what you're doing.

 

Good luck.

 

Valued Contributor
jsickz32
Posts: 1,987
Registered: ‎06-25-2012
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Re: Need advice...Please be nice

ZR1 has carbon ceramic rotors same they use on ferraris so when you need to replace them you are looking at 5k!
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Established Contributor
Chris123nTx
Posts: 500
Registered: ‎05-11-2007
0

Re: Need advice..Please be nice


stealthc63 wrote:

Nope....I went for the all American muscle. Corvette ZR1. Just to clarify I never said I make 90k....I said approx 80k. To be exact I make 77.5k which if you divide into 26 paychecks per year comes out to $2,980.76. After good ol' Uncle Sam does his magic trick I clear roughly 2k per check. Subtract rent, utilities, cc bills, food etc I'm not left with much at the end of every month. I think I'm just gonna ride it out the rest of the year, use my tax return which is usual 4k to pay down my cards then apply for a consolidation loan to pay off the cc's after my bk clears. I just can't part ways with the car at this point in time.


 

I really like the looks of the convertible on the new model coming out. Dont think they priced it yet, but sweeet.
Senior Contributor
fishbjc
Posts: 3,427
Registered: ‎11-30-2007
0

Re: Need advice..Please be nice

Sheesh, my friends husband earned almost 700k last year and he drives a 90k car.  He can afford it.  You have to decide if you want to be 'car poor'....for something that declines in value so quickly.

 

I understand the fun, but look at the bigger picture.  When you do get married, kids are expensive, weddings are expensive, engagement rings are expensive, but to each their own.  At least, have fun driving it and try not to go too fast (or your ins. rates will skyrocket).  :smileysurprised:


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