cancel
Showing results for 
Search instead for 
Did you mean: 

Need advice...Please be nice

Regular Contributor

Re: Need advice...Please be nice

I just want to know what kind of car it is Smiley Wink

Message 31 of 46
Valued Contributor

Re: Need advice...Please be nice


Siopao wrote:

I just want to know what kind of car it is Smiley Wink


Inquiring minds wanna know ...! ! ! !

 

 

Audi A6/A8?

 

Beemer 5 or 7 series??

 

Jaguar XF??

 

Lexus or Infiniti???

EX = 849 EQ = 850 TU = 850 as of 07/2017
Retired and Retiring Cards!
Message 32 of 46
New Contributor

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.

Message 33 of 46
New Contributor

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?  

Ch7 BK discharged 3/2009
Bloomies (10/99): 4k Alliant (8/10): 4k
SCEFCU Visa (9/12): 6k SCEFCU auto (9/12): 22k
Barclays Apple (10/11): 5k iTunes: 3k SLM: 15k
Amazon (8/12): 15k Walmart store (9/12): 6K
Partners (9/12): 20k CapOnex2 (1/10): 10k Discover IT (3/13): 5k
SDFCU: 20k Amex BCE: 8k
Message 34 of 46
Valued Contributor

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.

Message 35 of 46
Senior Contributor

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.  Smiley Happy


Gardening since 10 Jan 2018. Gardening until I hit 700 or 15 April. Whichever comes first. Smiley Tongue
Zero percent financing is where the devil lives...
10/01/17 Fico8 scores: EX 660, EQ 647, TU 663
01/01/18 Fico8 scores: EX 655, EQ 661, TU 650
Message 36 of 46
Valued Contributor

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.

 

Message 37 of 46
Valued Contributor

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!
Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
Message 38 of 46
Established Contributor

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.
Message 39 of 46
Senior Contributor

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).  Smiley Surprised

Message 40 of 46