hmm not too sure about that one...if you've got the discipline, it's a good way to boost your credit score before making the jump to buying a house.

 

Just hand them the keys. I believe it is called a voluntary repo.

Your financial situation is unfortunate but common. Some people live beyond their means. Maybe one day you will figure it out. Maybe not.

 

Best of luck to you man. Tough times right now for a lot of people.

 

It's only a car why do people put so much stock in a car. A good life should come before a nice car.
Hope you life turns around buddy.

 

about a week after that post the insurance bought those off me. They got ruined after that ordeal. Terrible offsets anyway.

 

true its really just making sure you debt to income ratio stays at a balanced medium.

 

haha i truly appreciate the defense but hes right i should have done more investigating before making such a significant purchase.

 

thanks for all the kind and wise words. Im glad i never ended up on the "more car than ii can handle list" but i have gap insurance and that acctually would have ended up better haha for myself atleast.

 

Sound financial decisions come tough when you're young. We live and we learn but it sounds like you have learned from your mistake. I hope if you can't work it out with this Z another one will come your way when you are in a better situation. Good Luck

 

I know how those Z32s can drain your money easily, that was your first mistake and mine too btw. Should of bought a low mileage one or just start off with a newer model (Z33) right off the bat, that way maintenance on the Z32 would have been paid to a loan for a low mileage Z or the newer model. Take it easy on this step, a car is not that important compare to your family, stuff happens all the time and life is not linear, it has its ups and downs just like the economy. The real task would be to take care of your babies and you can stand on your feet with your new life, forget about the Z for now. Later when your economy gets stable you might find another one but don't put material things in first place. You'll do great, turning the keys would be first step, that is if you can't find any other way to keep it..

 

The problem is there will probably be a deficiency balance left on the car. The bank will sell the car and apply whatever that amount is toward the loan. The original poster will still be responsible for any balance left. And I suspect the bank will pursue their balance with a vengeance. There is no easy way out of this one because I suspect the car is deeply underwater.

 

WOW!
hmm...so if your in financial problems and lost your jobs why would you get married? Wouldn't you want to be stable before raising a family?

And everyone who looses a job always complains about the Economy. SHEEEEEEEiitt...McDonald's is always hiring people!

 

He has a job. It pays 2/3 of what he made before. If he worked at McDonalds, he'd make 1/3 of what he made before. That's a win alright.

 

haha, didn't see the part that said he had a job. but hey MCD's is a good start for anyone to least get a job. a JOB A JOB when times are rough. besides at minimum wage 40 hours a week its rounded to 15k a year. Minus the marriage, or unless he still lives at home would of been a good start to jump back up on your feet. And if you do get married make sure your partner's not in debt or else it then fall son your back as well.

Problems with American society is that everyone thinks these kinds of jobs is below them.

 

I'm astonished that he bought a base Z with 40k on it for 28K...like... my mind cant even fathom it.

 

And I thought I payed alot for my brand new 07 Z for 28k otd.

 

like the saying goes...."there is a sucker born every day."

 

Aww that must have been super hard to do best of luck in the future!

 

OP, you have made some good decisions and some bad...which you have learned from.

Based on what you wrote here, I have no doubt that things will get better for you. Just keep trying, and don't give up your dreams.

 

^^^That was beautiful ^^^