Hello all!! I 've been an Evo IX owner for about 3 months and just wanted to see how people would respond...

I've lived in LV for couple months from CA, moved for a new job and was getting paid pretty well. An IT job btw, i used to work for a real estate co. in cali and made a good living there too...anyways...i just recently got laid off from my new job and have been having trouble finding a decent paying job, i had a job offered to me in IT again, which i accepted but i will be making twice as less.

Let me get to the point already... i can afford my car still but just barely, what should I do!!!!! Its not as easy as just giving it back to the dealer. Especially when credit is involved, and when my dad is the co-signer. and i don't want to give it ack either, cause i still need a car to get around, so giving it back would just make me get another.

 

Your going to have to look at your losses on both sides.


First CAN you sell the evo for more than you owe?
- If so how much do you gain?
- Can you buy a car with that?

Can you change life styles to help with your financial situation. IE cut back on other things like eating out etc..

Loosing your job is tough and only you are going to know the answers to these simple questions. Financial planning is always the same at a basic level. Its just a matter of what makes you the best return for your dollar. The only other question you throw in the mix is can you live with it?

Good luck... and get a better job

 

Basically, Roadspike hit it right on the spot. You need to to see if selling the car will even help you all that much. Depending on the miles on your car, you're only going to get about 26-29 (assuming its a GSR w/o SSL)

 

best advice get out of the IT field unless you like looking for jobs alot.

2nd do you have any bad habits? drinking smoking hookers?? if so drop them. brown bag lunch. raman noodls are good with sauce. many ways to cut back.

 

Bro you are way too funny

 

That's some fairly poor advice; I've been in IT for around 12 years and have had the reverse problem: Too many offers and too many job choices. I just resigned from Microsoft due to excessive travel (and there are many local opportunities to make more money). How anyone can dog a career field where 6-figure incomes are available to low-to-mid twenty year olds is beyond me... my guess is you've had a bad experience, or have no experience at all (all second-hand information).

My suggestion would be to look for other opportunities. Have you considered consulting? If you're skilled enough, there are plenty of amazing opportunities out there. If not, develop your skills and consider completing more certifications and becoming involved in user communities for whatever your particular technology focus is. People networking is always the best way to find jobs.

If you're resigned to keeping the lower paying gig, I would suggest offloading the car if you are not upside down. It's definately more important that you make enough money to save for your retirement and rainy day fund than it is to drive a $30k Mitsubishi product. There will be plenty of Evo's for sale in the future.

Best Regards,
Cris

 

Thanks for the responses guys! It was a pretty bad experience, new company that didnt do any good starting out, risky getting into and depending on income from that. As far as experience goes, i've only been in IT for a few months so real experience is limited on my end. All i have is my education to work from when interviewing for a job, which sometimes make it pretty hard to secure a good position. I'll probably just man up to that specific financial responsibility. I like to work hard and reach goals i set for myself, i land back on my feet soon.

And no, i don't smoke or involve myself with hookers. (funny though!)

Thanks again!!

 

so you drink then?
strip clubs?

 

I say, stick it out and continue looking for something better that pays more. Take the lower IT paying job and go from there.

Making a decision wheter being right or wrong is one made. If you have you heart in the right place everything will work out. Have faith.

 

Sell it now. You only get one chance to build good credit, and this car may get you into trouble with bills, etc. Get a fuel efficient car or just a beater, get on your way with the career, then re-visit the EVO. As an earlier poster said, there will be plenty around to pick up in the future. IMO.

 

"but i will be making twice as less."

Not to sound like a teacher, but wouldn't this be half as much =)

 

whats your payment's like? I will take it over for you.

 

Yeah my pay is pretty much half of what it used to be, actually it is exactly half. I can still afford the car and maintenance but i won't have enough for the booze and high price strippers...j/k.

Seriously though, it just might be easier if i didn't have the IX during this 'bump' in the road.

I think i'm going to keep it and just be tight with my pennies for a short while. The car payment is only $558 anyway and i don't have any bils anymore, cause i just paid off both my credit cards. Maybe i'm not being as optimistic as i should be.

 

i say stick with it and just budget for all you know once you get rid of it a month later you could have a better job.

 

well, if i was in your position...i would bust my *** at work to pay for it...maybe 2 or 3 jobs if i have to...you just gotta make a sacrifice UNTIL you get your other job back thats pays double than IT.