Phil8616

iTrader: (11)

Very good example, It paid off in a few years after driving a POS. If you want to set money aside and pay off other loans while in college, then that should be your prerogative. I was lucky to be able to save money in highschool while driving my dad's old truck and buy my Z with cash when I was only 17. Id save now and enjoy being able to mod and not owe anything on your car. Just my opinion...goodluck though with whatever you decide

I8URLS1

iTrader: (15)

haha... well worth it though.

allblacksrt4

iTrader: (3)

so all you are really saving is $50 a month on insurance, since you can pay off your car at anytime. Do you have a job. Because i work 40 hours a week and take 12 units a semester and so does my wife.

YoungGunLs1

Yes I have a job now, but as of February I am leaving the country to study abroad, which is not cheap, so I need money for while I am over there as well. So from February through July I will be gone, without a job, and spending money. My parents have told me that I don't owe that much and I can pay it off whenever I want, but PERSONALLY I hate oweing money on a car right now, it gives me no financial freedom being any money I make automatically goes to pay for insurance and the loan.

I may be selling sooner now as I am pretty sure I have a buyer.

I8URLS1

iTrader: (15)

pay it off before you leave and drop the insurance while you are not driving it. You'll save 300 dollars of that 600 you are speaking of right there.

bww3588

iTrader: (49)

wtf? you dont need a house! as long as you got a pot to **** in your set. you should have kept your goat.

I8URLS1

iTrader: (15)

I'd much rather own a nice house than a nice car and this is coming from a 20 year old lol. Cars come and go you can always get another one. But in this case I think the "car" at hand should be kept since he only owes 3k. Just put it in storage while he is gone and take the insurance off. It's a nice car and low miles. I would hang onto it.

bww3588

iTrader: (49)

i was just ******* with you anyways. someone is going to get ahold of it and run the **** out of it. thats one thing i hate more than anything is people who have a Z28 or T/A and dont realize they have a bad *** car. they just drive it like its just another grocery getter. they dont keep it clean, they take it to quick lubes to have the oil changed, and they run 87 gas in it. they dont care.

I8URLS1

iTrader: (15)

Yeah I hear you. I saw a red Z28 the other day that was so dirty it was turning black. I don't get some people. I take better care of my beater car than that lol. I unfortunately don't have any f-body anymore. But lets just say the Mustang has a "competitive edge"

BayAreaSS

iTrader: (10)

I'm with everyone else. If you ONLY owe 3K you should'nt get rid of it. Just take the insurance off when your out of the country. You said you can pay it off whenever, i just dont see what your dilemma is. You will regret getting rid of your T/A FOR SURE!

I think you should just tell us you dont really want the car anymore.

bww3588

iTrader: (49)

I think that would be a first on LS1tech. probably a last also.......

YoungGunLs1

The buyer I might have lined up is a car enthusiast, it is a family friend and they are into cars as much as my dad and I are...they actually have several classic cars, so if they take it, it will go to a good home, and I wouldn't doubt it will be taken care of even better than when I have had it, which is hard to top.

It's time to move onto something different now, and I have already made my decision to sell and move on to something more practical.

YoungGunLs1

Also as far as having something kick *** to drive, during the summer I will now instead be driving our 70 chevelle SS 454 and a 69 Camaro SS convertible for the nice fun cruise days, so it's not going to be all the bad....

My Dilema is that right now with the way my schedule works, I only work enough hours during the school year to pay my living expenses plus groceries, gas, and if I am lucky have some spending money each week. 3 grand to me is a lot of money, maybe not to some of you, but I only made about 4 grand working last summer. I spend over 2 grand a year on insurance, 1500 a year on gas, plus all my other expenses such as rent, school, every day expenses, so I don't have money to pay for it now, nor will I by the end of summer, plus I owe about $2000 on some other things right now as well...so in all I owe about 5,000, plus If I kept the car, I would owe another 1000 for insurance when I put it back for the rest of 2007 after I am back, plus gas, expenses, $500 for new tires it needs etc...all on about 3-4k I make during the month and a half I am out of school for the summer...so at the end of next summer on the $3-4k I will make, I will owe over $7,000 plus if something for some reason would go wrong with the car I wouldnt have the money to fix it.

So most of you are telling me it is good for a 21 year old guy who is trying to start his life out the right way and not work my way into debt, that I should keep it and stay in debt?

If I sell, and buy a car, I will end up paying off everything I owe, buy a car, plus have about 1-2k to put into savings, all BEFORE the 3-4k I make next summer, so lets see, I will then have 2-3k more into savings for emergencies, other expenses and have no money I owe, etc.. rather than be $7000 in debt...

So that is about a $9-10k difference now...not just the $3k I owe on my car...you see where I am going?? And each year that goes by with the limited income I have during college will just push me further into debt...

I think I am making the right decision, I don't care if you guys don't agree with me, but the responsible, and practical thing to do right now is to sell the car. PERIOD.

I bought this car with a great job at the time, and was going to be working for the same company the following summer, which would have allowed me to pay for the car plus put money into savings, but things didnt work out and the company had problems and was laying people off rather than hiring, so I lost my job and my summer income went way down....So it is my mistake for buying a car before I had the money to pay for it, I was 99% sure I would have it payed off in a year, but **** happens and life takes unexpected turns and you need to do what you need to do...

You guys act like these cars can never be replaced, I love my car, and am going to miss it, but c'mon I can get another one someday, Sometimes you have to get your priorities straight, and my priorities right now are other things besides my T/A.

End Rant...