Huge dilemma.....need help from my maca friends

[WillyBob98]

Ok so I just got engaged and we are about to move out and im still in college. College bills are coming soon and as you all know the insurance on these cars is insane. I only make 10.33 an hour right now part time and every extra penny I have (which is not much) always goes into fixing something in my car, not that its a junker but I want it to be in the best shape possible, so little things drive me nuts!! Not to mention my car payment is 230 a month and I still have 8K left on it. Thats not that expensive, but considering I drive to college every day (40 miles round trip) and drive to work everyother day (25 miles round rip), the gas is eating me alive!!!! I wanted to stick it out through college then just claim liability once its payed off but I found out the insurance will not be much cheaper and my fiance and I will both be teachers so there is no way we could afford 3 car insurances and 2 car payments (for her car and the cobra and DD for me) with all of our college debt, and everything else that comes with moving out and stuff. Should I sell it and get something practical, then a couple years down the road just pay cash for a cheap 5.0 and work on that? I just cant imagine me not having a cobra, or any mustang at all. I dont know what to do but im tired of not having money and tired of my fiance having to pay for everything. Sorry for the book :bored:

 

[SVTORANGE]

Ok so I just got engaged and we are about to move out and im still in college. College bills are coming soon and as you all know the insurance on these cars is insane. I only make 10.33 an hour right now part time and every extra penny I have (which is not much) always goes into fixing something in my car, not that its a junker but I want it to be in the best shape possible, so little things drive me nuts!! Not to mention my car payment is 230 a month and I still have 8K left on it. Thats not that expensive, but considering I drive to college every day (40 miles round trip) and drive to work everyother day (25 miles round rip), the gas is eating me alive!!!! I wanted to stick it out through college then just claim liability once its payed off but I found out the insurance will not be much cheaper and my fiance and I will both be teachers so there is no way we could afford 3 car insurances and 2 car payments (for her car and the cobra and DD for me) with all of our college debt, and everything else that comes with moving out and stuff. Should I sell it and get something practical, then a couple years down the road just pay cash for a cheap 5.0 and work on that? I just cant imagine me not having a cobra, or any mustang at all. I dont know what to do but im tired of not having money and tired of my fiance having to pay for everything. Sorry for the book :bored:

There are a few of us who were in the same situation as yourself. My advice is to perhaps find a much better paying PT job or add more OT in your current job. Times are getting tough with everything going up in pricing and gas being at almost $3.30 a gallon. If you are that strapped then sell the car and relax for a while then when your financially stable enough I am sure you will find your dream car at an affordable price. But for now you must ask yourself is the car WORTH all the STRUGGLINg your doing?

Good luck with your decision sounds like you already know what you need to do. Go with your inside feelings DO NOT LET OTHERS DECIDE FOR YOU.

 

[WillyBob98]

^^Yea I would love to get something to get me graduated and settled down, and then get a cheap 93 cobra about 5 years down the road as a project car. I dont know though:shrug:. Thanks for the help though :beer:

 

[IronTerp]

I had to sell my cars when the kids started coming. We thought it best to have my wife at home with the kids and we were pretty much stone broke for nearly 10 years. I drove some real POS's back then: Pinto, Maverick, Ford EXP......all cheap used cars with high mileage that got good gas mileage. I saved a TON of money doing it, but it was surely no fun. I finally bought an 86' GT and kept it stock but had a blast with it. Now, I'm back into some decent horsepower and loving the scene again.

Unfortunately, our families and essential financial responsibilities come first and sometimes it's just not possible to juggle our car hobby with those responsibilities.

 

[04yellowcobra]

Reality sucks bud, and we have all been there. I am currently in the middle of making decisions like you as well. Only I am looking at the money that is up in smoke right now and it makes me sick. Both between property investing and car hobby. I would be well on my way to paying cash for a house right now, but no, I am just about living pay check to pay check (engineering salary ... and high cost of living). This doesn't mean selling the cobra just yet ... but it may come to that, seeing that there is tons of equity there that is only depreciating.

Good luck in your situation and I hope I can pull through as well. We are all in the same boat!!

Later
Jason

 

[Red Devil]

Not sure how old you are but I didn't get my first mustang til I was 27. You just need to set your priorities. I drove what I could afford. The cars will always be there so don't make a shortsighted decision and affect what's really important in your future(Family,house,career etc.). A car is just a car(it hurts a lil to say that).

 

[SVTORANGE]

^^Yea I would love to get something to get me graduated and settled down, and then get a cheap 93 cobra about 5 years down the road as a project car. I dont know though:shrug:. Thanks for the help though :beer:

We have all had to sell something we love sometime BUT have always bounced back and got something even better later on when the money was right.

 

[BIGBAIR]

O man.!!!! Am i right there with all you all!!!!!

REALITY !!!!! SUCKS!!!!

 

[1fastredcobra]

I had to sell my cars when the kids started coming. We thought it best to have my wife at home with the kids and we were pretty much stone broke for nearly 10 years. I drove some real POS's back then: Pinto, Maverick, Ford EXP......all cheap used cars with high mileage that got good gas mileage. I saved a TON of money doing it, but it was surely no fun. I finally bought an 86' GT and kept it stock but had a blast with it. Now, I'm back into some decent horsepower and loving the scene again.

Unfortunately, our families and essential financial responsibilities come first and sometimes it's just not possible to juggle our car hobby with those responsibilities.

+1. I was a hot rodding fool when I was in my late teens and early twenties. I would buy my cars less engines and trans and put them together the way I wanted. When my girlfriend (now wife) and I decided to get married, my then project car was a 68 Nova with a fresh 396 and turbo 400 trans, with a 3.73 posi 12 bolt rear waiting to be installed. It didn't take long to figure out that the hot rodding was going to have to be put aside for responsible spending, so I sold the Nova and didn't look back. Now 28 years later, I've got my Cobra and I'm back in the game.
Take care of now. Cars are an irrelevant thing when it comes down to it. When the right time comes along, you'll be back!

 

[WillyBob98]

thanks for the help guys, really puts things into perspective!!

 

[wheelhopper]

I have owned a Mustang since 1988, sometimes 2. I always worked hard, sometimes 2 jobs to have the toys I wanted. In the end they are just that, toys. You have to decide whether you want to put more time and energy into working and increasing your income, or if you would rather have the free time you have now. For me personally I hate sitting around doing nothing, watching tv, and so forth. I have nearly always had 2 jobs/careers, even now. Do what you have to do to be happy, you only live once.

 

[SVTORANGE]

Times are getting a little tougher out here:cuss::beer:

 

[kens03cobra]

You will know the right way to do it when the time comes. If you are in love with the current car, perhaps sell it to an uncle or something and buy it back later :shrug::shrug:

I did some time on the WIC program while in the Navy, believe it or not. Had two kids by the time I was 22, and was driving escorts, tempos, and rangers for the longest time.

Now I am back in the game as well...

It will work out, just keep plugging away.


Ken

 

[N2DAMYSTIC]

Biting the bullet myself these day's and will soon be forced to make a decision. May not be the end of the Cobra day's but doing everything I can to hold on. Tough part for me is having no payments on the Cobra, but $900 in payments between my truck and the wifes Jeep.

We are all there or have been there before. Good news is your young and not sitting under a house payment and such. Assuming your like me you will fight till the end, but be sure to prioritize your long term goals, your marriage, and your credit. They are worth far more than a car.

 

[sunburned]

I'd definitely listen to these guys, they have way more experience with this sort of thing than us young bucks. I've told myself in the past that if I was really strapped for cash, my car would definitely be the first thing to go. I'm attached yes, but not to the point where I would live a crappy life just to keep a car. I had a civic before and would easily go back to one if the circumstances called for it. Since you took the plunge and got engaged, now is the time for you guys to start off your life together the right way. If I were you, I'd ditch the cobra (especially if you are constantly fixing stuff) since the car payment plus insurance must be murder. If you are only working part time, there is no need to have two cars and be struggling for money. Your passion for cars will never go away and either will the cars themselves. Focus on keeping your life in order and when you finish school, get a good job, and starting raking in money, you can get the car of your dreams.

 

[gcassidy]

When I was just out of high school, I had a great job working on imports that paid shit. I had a motorcycle to get around on, and an old van. Shared an apartment with a friend. Once I married, she had a beater, and we spent years getting good motorcycles and crappy cars (2 incomes do help, as you'll find out). I rode the bikes to work year round (snow is fun if there's no cars around). After years (and years) of that, we bought a new car, then finally a new '85 Mustang GT. There's been struggles since then, mostly our kid's college and stuff. And I sure don't have all I'd like done to the car, because I can't afford that. But I am glad for all the time I spent with awesome bikes (they were cheaper then). So don't sweat having to part with the Cobra if you have to. In 5 years, who knows what the used market will hold that will be better than it?

 

[Redneckbmxer24]

dont get married?:shrug:

 

[JRS BLOWN SNAKE]

Don't go broke over a car.. Don't ruin a relationship over a car.. Same here. I sold my GT when I got married in 1989.. Bought a house, had 3 children, put the wife through college. Bought the first Cobra in 2002. We are on the 6th Cobra currently..

It will work out if you lower your shoulder to it and don't look back..

 

[sunburned]

^I'd listen to this man lol. Just look at the mods in his sig now.

 

[BIGBAIR]

dont get married?:shrug:

i here ya on this one!