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Travel Budget, Money Matters, Financial Talk Mom, can I borrow ten grand?! Gimme yo mastercard! How the heck can I pay for my trip?! Ideas for making money. How much dough do I need?

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Old 03-09-2005, 05:26 PM   #1
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Ok Kids,
time for more tpunk consulting.

I have 8500 in credit card debt. I have a steady job now with TWO potential full-time leads starting as early as next month. If those fall through i still have my current job. The thing about those two are that they are both at the stadium I already work at and my boss would love to give me both if he can. (two companies, same location, he has say about it though)

Anyway as I was driving home today from the doctor (time for a post-brasil check-up ) I see a 91 Nissan Maxima for 2900 OBO.

Now the blue book value is 2350 so I am sure I can get him down to 2500 or less but should I go into further debt??? I am really sick of bumming rides or borrowing my parents car and if I have my own than I am so going to coachella and wherever else my little heart wants to.

What do you think? Incur an additional 3000 (with insurance) worth of debt to have my own car again?
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Old 03-09-2005, 05:59 PM   #2
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How quickly could you pay off the credit card debt if you don't by the car? I mean if you REALLY focused on paying it off? I'd say, at least bite a big chunk out of that $8500 first - that way you can get rid of it soon.

I avoid debt like the plague

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Old 03-09-2005, 06:29 PM   #3
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yeah rash decisions...

My pops works at a Nissan dealer out here, he reminded me that if i had informed him of my need for a vehicle he can more than likely get me a better car (mpg, etc) for a better price at the dealer...

so i wait.
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Old 03-09-2005, 07:05 PM   #4
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Either way, just start socking money away and pay for it cash. A car payment/loan is about the worst kind of loan you can take on, considering cars depreciate just about every minute of every day. If you can't wait that long, at least save up enough for a HUGE down payment so your repayment terms don't hurt.

I'm currently frustrated with my GTI (in the shop.. AGAIN.. for a week!) and have been pondering taking out a loan and buying a brand-spanking-new car, but the more I think about it, the more it seems illogical to go into ever-increasing debt for an ever-depreciating piece of property. That and I've been driving POS domestic rental cars and realize just how good I have it with my little krautmobile, despite its age and regular need for service...

Moral of the story: don't take out a huge loan, pay cash (or mostly cash) for a car you like AND can afford.
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Old 03-10-2005, 12:28 AM   #5
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Yeah man tough call my buddies hardcore in debt so Im gonna give him the same advice I give you........Get rid of your debt especially your Credit Card cuase the insurince on that mother will keep building up and your gonna have a harder and harder time gettin rid of it, I say get outta the hole and then worry about buying stuff when your in the surplus
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Old 03-10-2005, 01:17 AM   #6
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Jake, if yer still in this predicament in May-ish of '06, let me know. I'll sell you my car uuuuuuuber cheap as I will be looking to get rid of my belongings.....that is unless my plans change........again.........yeah.
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Old 03-10-2005, 02:56 AM   #7
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I'll second what everyone else says...get the debt down first - that has to be priority number one. I've been there, and it will feel good to get that off your back. Also, if you have high interest rates and haven't tried this already.........see if you can get your rates as low as possible......either through balance transfer options to other cards or even between existing cards, calling the credit card company and try to convince them to lower your rate (threaten to transfer balances, perhaps) etc. Good luck and forget the car for now.
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Old 03-10-2005, 08:15 AM   #8
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dude..seriously, pay off the CC debt...I have been knocking mine down a bit, and it has opened up a lot of doors because of it..dont forget, w/car comes insurance, inspection, maintanence....it sux
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Old 03-10-2005, 08:47 AM   #9
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I just sold my car. People keep asking me if it sucks to not have a car anymore and I keep telling them that I'm loving it. It definately helps living in an area which doesn't require driving to get to the grocery store. People talk about the freedom of owning car, but its a double edged sword. The cost of insurance, gas, repairs, on top of the cost of the car can be very restricting. I love not having to worry if someone's going to smash my window or key my door or bump into it in the parking lot. I love not having to deal with idiots on the road.

I love living in a city with a working public transportation system (unlike most northamerican cities).
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Old 03-10-2005, 09:44 AM   #10
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yeah..i may move to taipai if a job works out and i cant wait to get rid of my car...but i may get a scooter if im there
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Old 03-10-2005, 12:00 PM   #11
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If you need a car you need a car, but I suggest looking for the cheapest reliable car you can find. Hopefully your dad can help you. I don't know what kind of restrictions you have in Arizona... but whatever...

I will agree that debt is like a plague.
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Old 04-14-2006, 03:17 PM   #12
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wow. I feel like a moron. I went from 8500 a year ago to 19000 now.

Completely wrong way. :sigh:
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Old 04-14-2006, 03:51 PM   #13
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Quote:
Originally posted by TheJake@Apr 14 2006, 11:17 PM
wow. I feel like a moron. I went from 8500 a year ago to 19000 now.

Completely wrong way. :sigh:
[snapback]112371[/snapback]
8500 to 19000.

I told you not to spend so much on airplane lessons and hookers in South America.

Bad Devo----UUUH

I mean Jake.

Yes.

Jake.
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Old 04-14-2006, 03:52 PM   #14
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those hookers will get you every time. I swears it!

But devon if you notice the dates this was POST brasil. That means that the past year i've been in phoenix i spent all this money.
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Old 04-14-2006, 03:54 PM   #15
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Yeah, sure.

Excuses excuses.

You can't fool me with your senior mod trickery.

You tricky bastard.
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Old 04-14-2006, 03:55 PM   #16
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At least i don't fall for every brasilianemohornydoctor that comes my way.
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Old 04-14-2006, 03:56 PM   #17
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No, you don't.

But almost.
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Old 03-19-2007, 11:56 PM   #18
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well i am back down to 8500! Got some work left to do but I am in a hella better place than I was!
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Old 03-20-2007, 12:20 AM   #19
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Ouch!! CONGRATS!!! thats awsum! life in general must be feeling lighter!!hehehehe my mum just freaked when i explain how much i was probably gonna rely on credit in europe.........meh...
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Old 03-20-2007, 05:01 AM   #20
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Jesus! What did you spend all that money on??? Oh wait, in most cultures it's rude to talk so blatantly about money, right?... I have no social skills.
But I do have a credit card which makes me feel a little more secure about my impending travel... Unfortunately when I got it my financial situation was so pitiful/non-existant that they gave me a very low limit. In worst case scenario, I can't even buy a plane ticket home on it. (I got here on a one-way ticket) So basically I could get stranded in europe. Nice.
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