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You still aren’t getting it. You cannot afford $800 in car payments, regardless of whose paycheck it comes out of. You do not make enough, combined.
Well consider i have yet to miss a payment, im doing ok. We got the extra car because we really needed it. Hours were not feasable with one car and the activities to keep the kid happy, among other family needs. Be times were i would be gone 12-16 hours a day, and she had a DR appointment, not like she can drop me off, when my job require me to travel. So it was a need at the time. I dont regret getting them, just regret getting the high payment hoping to get the cars paid off quickly as possible, vs spreading it out and banks gain more interest on me. screw that..
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,569,440 times
Reputation: 16698
Quote:
Originally Posted by QuilterChick
for $20/month ?
Now that really p'd me off. Heartless !
If you are p'd off then you have no sense of the dilema this guy is in.
No, what's heartless and dumb is you. You put the pets over the welfare of his kids. The guy needs to trim whatever he can.
Since you so caring, why don't you send him the $240?
Yeah I thought so.
Well consider i have yet to miss a payment, im doing ok. We got the extra car because we really needed it. Hours were not feasable with one car and the activities to keep the kid happy, among other family needs. Be times were i would be gone 12-16 hours a day, and she had a DR appointment, not like she can drop me off, when my job require me to travel. So it was a need at the time. I dont regret getting them, just regret getting the high payment hoping to get the cars paid off quickly as possible, vs spreading it out and banks gain more interest on me. screw that..
Exactly. It’s not about missing car payments. If $800 a month out the door isn’t a problem, you wouldn’t be posting here. You make a small salary. Period. Yes, you need 2 cars. You shoul’ve bought a couple of cheap cars with small payments (note I did not say to drag your existing loans out over more time!). I make 2.5 times what you do, and I would never take on that much car!
Dump one, take the hit and get a cheap car for your wife.
Please answer: how much is each car worth? How much do you owe on each car?
Exactly. It’s not about missing car payments. If $800 a month out the door isn’t a problem, you wouldn’t be posting here. You make a small salary. Period. Yes, you need 2 cars. You shoul’ve bought a couple of cheap cars with small payments (note I did not say to drag your existing loans out over more time!). I make 2.5 times what you do, and I would never take on that much car!
Dump one, take the hit and get a cheap car for your wife.
Please answer: how much is each car worth? How much do you owe on each car?
2017 is new.. so still owe around 16k for it.. 2013 still around 6k.. both are still not in range for me to sell and pay off, i would have to put something with it.. So not going to go that route. It will be nice if i could if i knew the situation i am in now. Yea i am askin because i cant see were i am losing money, but not gaining anything.. Just need to make the wife work harder is my goal, but like to prove to her that her earnings will help alot more than not having anything at all.. But yet see some folks just making 30K and able to purchase a house. .so how that possible.. and here i am busting balls to pay rent.
I cant take the hit, or it will take forever to get my credit score back to were it is now.
2017 is new.. so still owe around 16k for it.. 2013 still around 6k.. both are still not in range for me to sell and pay off, i would have to put something with it.. So not going to go that route. It will be nice if i could if i knew the situation i am in now. Yea i am askin because i cant see were i am losing money, but not gaining anything.. Just need to make the wife work harder is my goal, but like to prove to her that her earnings will help alot more than not having anything at all.. But yet see some folks just making 30K and able to purchase a house. .so how that possible.. and here i am busting balls to pay rent.
I cant take the hit, or it will take forever to get my credit score back to were it is now.
YOU BOUGHT TOO MUCH CAR FOR YOUR INCOME
Seriously how many times do we need to state it?!?
You should be driving around in 15 year old Corollas or Civics paying liability only insurance rates. This would save you close to $1,000/month.
Wife should have a job, any job, that contributes.
You could easily be a +$2,000/month household even at your lower income...you know how to live cheap and frugally, your past proves that, now you need the income side of the equation.
Note with a household income roughly 6x yours, we have an eight year old Prius and a 20+ year old station wagon that I got in 2003...cars are where you lose the majority of your money. I have never had a car payment in my life. Have always done all my own repairs. Liability only insurance saves A TON, at one point my insurance was $30/month for the two cars, you're paying $200...
You have a 3 year old car and a car that is virtually brand new. We make far more money than you and we have a 2002 Ranger, a 2005 Mazda and our newest is a 2012 Civic. As others have posted paying $800/month in car payments is insane for your situation and there lies your problem.
As you said you owe too much to be able to get out of it now. But for God's sake once the loans are paid off do not make this mistake again.
As an aside, it should probably be criminal that a lender qualified you for the second car loan.
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for $20/month ? 
