Originally Posted by allngn_c5

you said "obligated to make smaller monthly payments by doing a refi" (not exact quote, but get the point. Here's the problem brother, smaller payments with interest over more months. Its still bad. You will make the cost of the vehicle go up due to compounding interest.

Let me say this, I know a little about a lot of things. I know everything about saving, and making your money work for you. I turn 33 this month, I am hoping before my 39th bday that I am totally liquid (no debt of any kind) I also have to say that I came from a single parent home, welfare, free lunch and all the other disadvantages you could get. However what doesn't kill you only makes you stronger. I got an education, applied it, employed in Law Enforcement for over 10 yrs, and am on pace to make 100,000 or more for the 3rd year in a row. I max out my retirement, I do deferred comp, and I have an overspending fiance. She blows her money and tries to spend mine. Your wife is going to have to step up to the plate and help you more. Pay extra on everything. Stop smoking/drinking if you do. Cut out the fancy dining and eat your steak at home. If I could sit with you personally I would do for you free of charge (something I've done for many of my partners that live there lives based on overtime) a complete analysis of your situation. I would break it down and give you a way out that most likely would let you keep your Vette, but you would have to eliminate other things. Or vice versa, eliminate the vette and keep the other things. As far as pool, absolutely not. It only compounds the problem. It will be a new bill, it will raise your home owners insurance significantly. A pool is just another luxury. If I had details of take home pay, and monthly bills, and misc items we could break it down and give you a plan brother. Feel free to PM me if you have any questions. Good luck

Originally Posted by 87silverbullet

Your wife is going to have to step up to the plate and help you more"
I don't have a wife I'm paying for all this on my own.

"As far as pool" Where did that come from I didnt say I was getting a pool?

I dont drink or smoke

The only reason I would refinance the vette is to reduce the note. I would pay up on it when I will get extra money but only pay the actual note when I dont have the money handy.

I came from the same situation as you I went to public school, I have a degree in automotive technology and I have worked for the phone company for eight years. A few of those years I have made 6 figures too (yes the phone company pays us that kind of a salary). I should have used that money more wisely but I was young and wanted alot of things. I got into drag racing and we all know this is not a cheap hobby.

I have gotten out of jams before. I will get out of this one

Originally Posted by Ragtop 99

If you really love the vette, unload the truck unless it is necessary to earn your living. If you need a truck occassionaly to move stuff, rent one. If will be far cheaper than paying for the truck and insuring it. At a minimum, you can downsize the truck by buying an older model for less money.

If you have to pay for parking and have a 2.8 mile commute, start riding your bike to work if there is a safe route.

Originally Posted by 87silverbullet

If i sell the truck that still leave me with the vette note. If I sell the vette, I get the money out of it to pay off the truck that gives me no note .

Originally Posted by Ragtop 99

If eliminating the note (and insurance) on the truck doesn't solve your finances, then you do need to sell the vette.

Good luck on your decision.

You can make a lot of money on investment property, but it can mean a long holding period and not always be cash positive. Be prepared if you go that route.