So, I was doing ok paying for my 06 until I graduated from school. I went to school for film, and have been pursuing since the second I graduated. After 4 months I moved to Brooklyn to pursue to the fullest, and have been here ever since. Things are goin good, but I'm afraid realistically I won't really be making much money for probably a year, as I am training to become a DIT (Digital Imagine Tech/Camera Tech for short). Between insurance, rent, loans, everything else I'm basically making as much money in a month as my bills.... but that was also due to a 30+ hr/wk internship which kept me from a lot of work, which will be up next week. So I will be able to work a lot more, but I'm still scared of not being able to afford my $450/mo payment.

I owe 18k on the car still which is great I think for an 06 SE w/ 26k miles, since I couldn't buy another one for nearly that good of a deal, so it's so hard to give it up knowing I'd be losing out, and that I'd have to start over with getting an EVO that won't be "mine". I bought it 18 months ago, with 6k on her, so she was basically new.

So, I was thinking of refinancing the car since it's only a 60 month loan, but, according to my bank's website, 60 months is the maximum...so I don't know what I'm gonna do. Another downfall is that my dad is now on disability, and so my parents cannot/will not co-sign like they did on this car, so I can't really apply for a new loan with another bank.

I feel like I'm screwed and I don't know what to do. Not even sure if I can refinance it. I'm gonna see how much work I can pick up now that I'm done interning, but I'm just fearing having to give it up, since it's essentially what I enjoy most (track days, little fixes, etc are what I love)

 

sell it for what you owe or slightly more and dont look back, you dont need a car for now. When you are back on your feet in a career find another.

 

here is what you do i have delt with a lot of this lately not not being able to bay the bill just wanting to get it lowered. You have been on the loan that your parents cosigned correct? if so you have been building credit and you should be able to apply for a loan from someone else and if you refinance you should be able to drop the payment to about 300 if that is low enough for you to afford it then do it also be advised that banks will want another downpayment on it even though you already are paying for it. The down payment they would want is usually about 1000 but maybe you will be lucky and find a bank that will work with you and make you not have to make another down payment.

Good Luck!

 

i would say sell it and get something cheaper, or trade for a 03 or something, but it is way easier said than done especially with a evo. i hope you keep it.

 

Keep your car, i'm sur you will regret selling your baby and having to buy a new one 1 year later and start all over again.

 

in your situation, i would try and sell it. your career is way more important right now than some car. once you're ready again, you can always purchase another evo or something better even...

 

a car isn't more important than your career and family. consdering you might be one day afford something more expensive and faster.

 

these are all things I contemplate... I just don't wanna regret getting rid of such a perfect car, and it's more than just a car to me... it's what I look forward to more than anything....... especially when you move away from your hometown to somewhere like NYC, in which I'm too poor to go out or do anything really... I just look forward to my car, and tracks days in the spring etc. But maybe getting an 03 or something will be a good thing, I don't know.

 

Dude I'm with ya all tha way ...I was looking into a house bt I don't wanna get rid of my evo ...I couldn't haggle tha deal cause carmax is a bunch of haters...when there's a will there's a way ..u will pull through man ..try to keep it.

 

I would shop around for banks. Maybe try a credit union. They should be able to refinace the loan for lower payments. Explain the situation. Banks will usually work with you. Also see if you can defer you studen loans(if you have any), untill you make more money.

 

If you cannot afford the payment,how are you able to afford track time,wear and tear associated with track use etc. Just sell the car and buy another one when you can afford it.do not start your career in a world wide recession with more debt.( drives 06 IX mr se)

 

It's a car. I know you become really attached, however, there will be other cars out there just as exciting when you are able to fully afford one without sweating every payment. Your overall happiness will increase when you don't have to stretch every dollar.

 

it's financed through a credit union right now, I haven't talked to them yet, but their website says used cars have a max of 60 month loans, so I guess I'll see what they say when I call.


and I understand what everyone's saying about getting another one when I'm more financially stable.... it's just such a hard decision because literally this one's been perfect as long as I've owned it, still stock clutch, and it's hard to say goodbye to it, but I guess I'll know this week.

 

I would sell it. Nothing that has not been said already.

Your Family and then you career should have priority. To worry about a car when your are just getting started with career.... is not good. Been here done that. Let it go.

 

this thread's going on twice haha.....