Me too..... lol

 

Put her up forsale if you really don't want to have to make the payments, there is thousands of Z's out there so you can always get another one.

Cash flow is tight for me right now because I am also paying down a student loan (ugh I can't wait till you go away!) and I pay for my used Z at the same time which I purchased on a line of credit, and of course my living expenses on top of all of this. I to also had a pay cut here at work :'(.

One thing I'm really glad I did was buy the car on a line of credit, no silly auto loan. If times get really tough I can pay less than $100 a month for my Z lol. If things get that bad though I would put it up forsale, recover my financial situation and then starting looking into toys again.

 

You're almost there man don't give up.

 

That's almost just as bad - the interest on Lines of Credit is ridiculously high compared to current auto loan rates - and people wonder why they get their cars repo'd and their homes foreclosed on....not trying to offend either of you just saying that it's not very smart and I'm glad that both of you still have your vehicles - just in the future if I were you I wouldn't do it again.

 

sell your car.. buy a cheap used beater.. save up and do it the right way next time...

 

sell your body and dignity on the street corner...bottle your tears...Poland Spring water is expensive

 

The rule that I calculated for myself when purchasing a car is that your car note should always be less than what you earn in a week.I have never heard of someone getting a loan for a downpayment.

 

You had all negatives going for you from the beginning. Specially getting a loan for a down payment.

Sounds like you're almost done, so stick it out... additionally, get a second job.

 

Don't take it back, you'll be losing too much. Just budget your money and keep going at it until you pay off your loan.

 

For 3 years I was working extra 10 hours a week. 2 weeks after I bought my Z, I lost the extra hours due to slow down at my job. I was like damm, if i had waited just 2 weeks I would not have bought this. But I was not taking it back after years of dreaming to own one. So I took action. I cut down on unecessary driving to save some money on gas, stopped my once a week restuarant dinner (sorry no tips for the servers), take and bake pizza instead of pizza hut, Wal-mart instead of Macy's. I looked at all areas to save money. Guess what, everything is under control and I am even saving more than before. Look at your way of living and adjust. 10 months would soon come.

 

I almost was in your situation, except BEFORE I bought the car. I'm a college student and I saved for my entire freshman & sophomore years for the 350Z not ever even buying McDonalds, or new clothes or anything really. I even packed my lunch to eat at work every night. Looking back on it now, I realize how much of my college life I sacrificed because I was at work EVERY weekend and friday night.........I went to 0 parties in 2 years because I was at work. If you count class & homework, I was working 60 hours per week. But I realized that's the kind of dedication it took to own a 350Z at my age.

I bought it in cash 5 weeks before my Junior year, it took all my money ($15,000). 6 days later my ECM died and I had to borrow $1,600 from my parents to fix it. Now I'm STILL SAVING. That's the kind of dedication it takes to drive a 350Z. All the people out there drive 1990s civics because they don't put any dedication into it.

Unless you're rich, that's the kind of dedication it takes to own a car like this. I'm 20 and if I can do it (without any help from parents) then I'm sure you can do it. Good luck!

 

 

You failed miserably at this purchase, and if you return the car you're going to lose your shirt.

Get a second job and make sure you keep the Z for a few years after your payments are completed so that you don't have a car payment and you can start to pay yourself back.

I would also look into refinancing either of your loans for a better rate (if possible).

In the future don't count on anticipated income for buying a rapidly depreciating asset (like a car), it's a very, very risky move.

 

ouch...

 

Pick up a part time job, it's really all you can do at this point.

 

sorry, no sympathy will be found here

 

Don't think selling will help much, what's your settlement amount?
Z's value depreciate fast.
Due to interest he might be with out car and still have some payments left.


Don't make stupid choices when the pressure on.....see it as a challenge, second job's a good start.

 

Get a second job, and tough it out.

 

You call the bank and tell them you're having financial issues. They will allow you to skip, in most case, a payment. They basically add it to the rear of the loan.

Sell some stuff you don't need. And, get a part-time job doing anything.

10 months left will go by fast.

When I was younger I got laid off. I worked three part time jobs for a year to make sure I could pay my bills. And, saved some money so I wouldn't have to go through it again.