98TAjwh

iTrader: (4)

it's already been mentioned but your family is more important than a car. luckily i was able to keep mine when my daughter was born (i did contimplate selling and getting something more family friendly, can you say G8?) but i loved my car a lot and my mother in law ended up giving us a super cab truck so i was able to keep my toy. but kids can be expensive and an unnecessary car payment can be a pain in the ***.

pat-ls101

Yeah, a car payment does suck.... And, we have been doing all the above to save money(not eating out, renting, etc) and, we're not struggling by any means. Its tight but manageable but I kinda want to think ahead.... Cause if I did sell I could drive my truck cause I dont owe on it. We'll see I guess the guy hasnt contacted me back so who knows?

OSU Football Fan

iTrader: (23)

Why not sell the truck & daily drive your camaro.
Your camaro with 2.73 gears has to get a lot better gas mileage
than your truck. Plus you could use the money from your truck
to help out until your wife goes back to work.

Of course that plan goes out the window if you work construction
& you have to have your truck.

69camaross

iTrader: (4)

On the left it says he's in Oregon, so unless he works at home he's gonna need a truck 5 months out of the year.

pat-ls101

I think im leaning more towards keepin it. My wife just got another substitute teacher position starting in Dec. And I started thinking, I got this car after I got out of the army. I saved enough to put a down payment, i've just been through alot to get it, I think id regret it.

The car sits during the winter and yes, it nice to have a truck around here! So, the wife and I may be going to the hospital tonight! Shes having contractions, I think the baby is on its way!!!

pat-ls101

Hey 69camaross you got some wise words brother! Ive seen some of your other posts and your advice and its spot on!

And, Thank to everyone else for all the advice you guys are great!!!

69camaross

iTrader: (4)

Thanks man! Just trying to help my fellow f-body brothers out whenever I can.

CranMaro99

iTrader: (10)

Call the insurance for the car to say it is parked for the winter and to temporarily cancel it until you uncover it for the summer again. Save some money there, too.

JayplaySS

iTrader: (15)

This will be long winded so bear with me.

If the payment sacrifices any respect from your wife, sell it. If you need the extra money for the baby, sell it.

If you can afford it and you actually use it, keep it.

I sold my 06 C6 3-4 months ago and was saving for a C6Z. I decided on a modded 08 LS3 M6 since it's much cheaper ($32K modded) and I swear the day I bought the car, my wife discovered she is pregnant. No ****, the same day I bought the C6...

I am thinking of changing jobs (better pay) and I only have a company truck right now so either way, I will need a car. My wife and I paid off all our debt ($5K) in the 3-4 months I did not have the 06 C6 so right now our entire debt is less than $800, probably less since we still use our CC's to keep them but pay them off right away.

Even with the 2 car payments (hers and mine) we can still save $1,000 a month if we don't eat out and movies etc every week. That's an extra $7k for the baby.

NOW- when the baby arrives and my wife takes 2 months off, if the C6 payment ($530) causes a problem, you will see it listed here for sale and I will grab another one in a few years. Daycare is what I fear the most, it usually runs $150 a week here, that's the C6 payment. I hope my family can help and in all honesty I'm sure they would love to.

I have always had a fast car as a hobby and when I get upset or depressed I need to mod, drive or race to destress. I am terrified at NOT having that option.

My hope is that when the baby arrives, I won't have the same desire obviously to mess with the car, then it won't be a sacrifice selling it. I know my car time will be limited anyway with the arrival of the baby, but there will still be enough time for a nightly drive since it's nice every season here in FL.

Family > Toys (unless you can really afford both and you actually use them)

Just figure out how much will the payment actually help. If you save $300 a month selling the car, are you going to spend the same $300 on unnecessary items (Taco Bell, Blockbuster, PS3 games, etc) where that car would have been more fun for the same $300? I hope I'm clear on that..?


BTW, congrats dude.

slayerized6

iTrader: (12)

sell the car. its only a z28; its not like its a 35th SS or CETA Trans Am. Once you and your family have the baby and get financially stable, then go out and buy yourself a toy

BobDoLe

iTrader: (11)

if you weren't making payments on the camaro, i'd agree about selling the impala and getting into something more affordable to get out of making payments and needing full coverage insurance.

on the other hand, i wouldn't expect my pregnant wife (who he said was going to have a baby in a few days ) to get a job.

there's nothing wrong with getting your wife and kid a nice suv while you drive a POS... or in this case, keeping her impala and getting into a high mileage LT1 (hint) if you're making payments on the camaro.

pat-ls101

UPDATE: Babies been born! on 10/19 he was 8lbs 9 oz healthy baby boy! And, ive been talking this camaro issue out with the wife. She doesnt want me to get rid of it either. And, she will start working as a sub teacher part time in december-january time frame so, im thinking we're gunna keep the camaro and when she goes back to work full time, im gunna put double payments and pay it off.

And, yes it may be just a z28 but, I love that car its been through alot with me and my family and holds quite a bit of sentimental value. With that being said, if something horrible ever happen were I couldnt afford it, Id sell it.

But, im hoping I can get it paid off before anything bad happens! lol Again, Thanks alot guys for all your advice I took everyones point into consideration.

RPM WS6

iTrader: (3)

I like this advice. I second it. I haven't had a car payment in YEARS, cash is king and there's so much less stress involved in owning a car when you know it's paid for. The only exception to this rule is if you can get a loan at a lesser interest rate than whatever investment return you can get on the cash you would have used to buy it. Case in point; when I bought my Nova I was able to get a cash advance from my CC at 2.9% for the life of the loan. The cash I would have used otherwise was sitting in an account making 4.25% interest, so it only made sense to take the loan instead.

Debt is an awful thing when stuff goes wrong in your life. Cash money and being debt free = freedom and safety. I am unemployed as of the begining of this month, but I have no worries. I won't be selling any toys, nor running short of cash to pay my living expenses with. My entire adult life I've been a beleiver in saving money so that when the **** hits the fan, you don't have to panic or make drastic changes. I'll hopefully be back to work in December, but even if it took a year to get another job, I'd still be ok, and I'd still have my toys. My point here isn't about bragging, it's just about how important financial security is, and how it should always be your #1 priority..... for your sake, and the sake of your family. That way, you don't have to count on liquidating your toys just to make ends meet when a rough patch comes.

Another tip..... do you have a monthly budget? If not, you need one. And if you do, now is a great time to revisit all your monthly expenses and find places to make cuts or changes to save some extra cash while your household income is down. As soon as I lost my job, the very first thing I did was review the entire buget, and my wife and I brain stormed about changes we could make to save in every catagory of expenses. It worked great, we actually have given up very little, but by being smarter about how and where we spend the money, we've removed a lot of waste.....literally hundereds of dollars a month.

JayplaySS

iTrader: (15)

CONGRATS MAN!! A healthy baby, Thank you Lord.

Dude, I am with you, cars can become almost as close as family. You may even want to keep it more now since that will be the 1st car your son will be introduced to.

pat-ls101

RPM WS6, those are true spoken words! couldnt of put it better myself bro! And, the reason I got a new car and this camaro is, I figured if I can get them paid off, Id have a new car and the car I always wanted. So, I figured id stick it out....

But, you are right the debt sucks for now. But, if I can hold out like 2-3 more years it will be paid off!

pat-ls101

Thanks alot man! and yes, they do become family. Ive had so many fun times and that cars always been around the "good times"(family get togethers etc.)

It would just pain me to see it go. Im so used to it sitting under the parking cover when I get home and, its always there when ive had a bad day and want to go for a drive. Its the best medicine drive it and feel your probs melt away!