bnightstar
Well-Known Member
You are not 15 are you ? You realise that all times saying screw it lead you to 21% interest on a car that depreciate like crazy ? At 21% interest I honestly don't think you can afford this mistake. Let me put it in perspective for you if you even miss one payment and at your situation I'm sure you will you will never recover from this mistake. Like you will be paying this car even after your death. Just ask yourself is this worth it so much that your kids or whatever dependants you have pay for it after you are dead ? If I was you I would sell it as fast as I can I will call all people that I own money to credit card companies, hospitals, cable operators etc write what I own and at what interest on a pice of paper and start paying this down from the biggest interest to the lowest. After you clear your debt. I will save an emergency fund of at least 3 months of income. Once this is done you can look at taking a loan for a car but definitely not a Mustang GT probably an used EcoBoost if you so much want a Mustang.Cib24, I agree with you completely on those points. If I’m being honest, I think coming close to death made me say screw it, I’m gonna get this car and enjoy my life even though it’s a bad financial decision. Sometimes we make mistakes in a fleeting moment, then sanity kicks in. Luckily I can afford this mistake, but I’d like to try and clean it up. My credit report will be clean in about a yeah and a half, so maybe I should just get a high mileage Accord or Maxima and wait it out.
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