How in Debt are you?
#31
I'm in debt and I'm not fully satisfy with warranty, quality, bull**** from etc. Was hoping this car will go 3-4 years without no problem same as the honda but I have a feeling it won't. Can't sell it now cuz resale value and I'll be losing money.
#34
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I owe the bank like 25'gs for my car (just got done paying the APR 4%). I owe $0 in modds (I only buy what I can pay for) and 17,150 for my student loan. Debt really really sucks.
#35
I owe around 6,500 over four years on the evo I will spare you the payment, however the future wife just graduated from medical school with around a 100gs owed so for the past eight months I have had to pay some crazy bills. That’s why I bought the evo right before I asked her.
#36
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The only real debt I have is the EVO. I was stupid and didn't put any money down and financed the tax and about 2K negative equity on my trades. All in all I financed about 34K for the EVO back in June '03 and owe a little over 28K on it now. I try my best to make double payments on it each month, but I always at least make more than the exact payment. I refuse to do any non-essential mods (cruise control [I drive 40K miles a year], and the new clutch goes in next week) until I at least have positive equity in the car.
I do still have about 4K in student loans, but now that I sold my condo and only rent, the interest on those are the only tax deductions I get, plus the interest is only 3% on them, so I make more money keeping my money tied up in investments then paying off those loans.
I don't use the investments to pay off my car loan, because I don't have much job security, so I can live off my investments for a year while still keeping the EVO if I had to.
I've never carried a balance on my credit card and I never plan to.
And I make about double of what I owe a year in total. So my debt to income ratio is good and my debt to asset ratio is good too, so the debt on the EVO isn't that bad considering I don't have any other debt.
I do still have about 4K in student loans, but now that I sold my condo and only rent, the interest on those are the only tax deductions I get, plus the interest is only 3% on them, so I make more money keeping my money tied up in investments then paying off those loans.
I don't use the investments to pay off my car loan, because I don't have much job security, so I can live off my investments for a year while still keeping the EVO if I had to.
I've never carried a balance on my credit card and I never plan to.
And I make about double of what I owe a year in total. So my debt to income ratio is good and my debt to asset ratio is good too, so the debt on the EVO isn't that bad considering I don't have any other debt.
#37
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im making a lil over 20- while i work two parttime jobs and goto school full time.. honestly, the debt thing is really starting to annoy me
i owe like 5500 on my credit card now- some due to mods(maybe 1500), other because of the clutch going(1300).(heh thank you very much launches and i just bought wheels and tires (1300)- but i needed summer tires after i bought the winter tires( that was another 450 right there) .( i wont even go into my speeding tickets from last summer- one occasion 3 tickets- yea i know my own dumbass fault)
all in all, yes alot of it is my fault- i dont blame the car in any way.. but it is a very expensive car to maintain overall..
oh yea i owe about 24-25 on it still..
whenever i sit down and logically think about it, i say to myself i should just sell this and buy like an 89 corolla. but then i get in the car and im just like... ahhhh i CANNOT sell this thing.. too addictive..
its a love hate relationship. im just hoping after i graduate in a month! yaya i can get into a full time job and start making some moola! and pay off the crappy card and car.
def spending alot on the car is not smart financially. but oh so worth it!!
i owe like 5500 on my credit card now- some due to mods(maybe 1500), other because of the clutch going(1300).(heh thank you very much launches and i just bought wheels and tires (1300)- but i needed summer tires after i bought the winter tires( that was another 450 right there) .( i wont even go into my speeding tickets from last summer- one occasion 3 tickets- yea i know my own dumbass fault)
all in all, yes alot of it is my fault- i dont blame the car in any way.. but it is a very expensive car to maintain overall..
oh yea i owe about 24-25 on it still..
whenever i sit down and logically think about it, i say to myself i should just sell this and buy like an 89 corolla. but then i get in the car and im just like... ahhhh i CANNOT sell this thing.. too addictive..
its a love hate relationship. im just hoping after i graduate in a month! yaya i can get into a full time job and start making some moola! and pay off the crappy card and car.
def spending alot on the car is not smart financially. but oh so worth it!!
Last edited by JaReDbOy; Apr 8, 2004 at 09:18 PM.
#38
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Evo is least of my concerns... saddled with 2 houses totals up about $4500 / mo just in mortgage, not to mention all the other **** and a new $25k remodel. Debt sucks ***... I actually said out loud to my wife that maybe we could sell the Evo... she said she would divorce my sorry *** if I sold the Evo. We could sell everything else, ok, but the Evo stays!!
#41
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Originally posted by svillata
Evo is least of my concerns... saddled with 2 houses totals up about $4500 / mo just in mortgage, not to mention all the other **** and a new $25k remodel. Debt sucks ***... I actually said out loud to my wife that maybe we could sell the Evo... she said she would divorce my sorry *** if I sold the Evo. We could sell everything else, ok, but the Evo stays!!
Evo is least of my concerns... saddled with 2 houses totals up about $4500 / mo just in mortgage, not to mention all the other **** and a new $25k remodel. Debt sucks ***... I actually said out loud to my wife that maybe we could sell the Evo... she said she would divorce my sorry *** if I sold the Evo. We could sell everything else, ok, but the Evo stays!!
if you have to sell the evo and she divorces you, tell him im single and have an evo.
lol hopefully i dont sell the car in the meantime..
LOL
#42
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Mods are paid in full. First mod was boguht in Oct. of 03' and this is what has happened.
HKS Carbon-Ti - $723
HKS dp - $330
HKS rs intake - $280
HKS turbo timer - $102
Tein S-Tech's - $152
Evo 7 tails - $325
Evo badge - $180 (bought 2)
Volk CE28's - $1100
Kumho MX's - $600
Defi gauges - $495
gauge pod - $56
Between my wife and I, we made about 106K last year. She had only been a nurse full time for about 3-4 months. Both our jobs have unlimited amounts of overtime that we can have.
My mortgage is $1000 and our cars run us about the same a month. On my salary alone, I pay for the cars and house payment with no problems.
We have a few credit cards that she pays on and she pays the utilities as well. Somehow I think I'm getting hosed.
When we moved in our house we had pretty much nothing and spent all of our money on getting married. We used my cards I already had and bought furniture and what we needed on 6-12 moths same as cash. They were all paid for within 3-5 months.
Here car payment come straight out of my check so it's kinda like I only have one car payment. I'm trying to stop spending money on the car and try to put more money towards the priciple.
HKS Carbon-Ti - $723
HKS dp - $330
HKS rs intake - $280
HKS turbo timer - $102
Tein S-Tech's - $152
Evo 7 tails - $325
Evo badge - $180 (bought 2)
Volk CE28's - $1100
Kumho MX's - $600
Defi gauges - $495
gauge pod - $56
Between my wife and I, we made about 106K last year. She had only been a nurse full time for about 3-4 months. Both our jobs have unlimited amounts of overtime that we can have.
My mortgage is $1000 and our cars run us about the same a month. On my salary alone, I pay for the cars and house payment with no problems.
We have a few credit cards that she pays on and she pays the utilities as well. Somehow I think I'm getting hosed.
When we moved in our house we had pretty much nothing and spent all of our money on getting married. We used my cards I already had and bought furniture and what we needed on 6-12 moths same as cash. They were all paid for within 3-5 months.
Here car payment come straight out of my check so it's kinda like I only have one car payment. I'm trying to stop spending money on the car and try to put more money towards the priciple.
#43
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If I had a wife that made what I make, we'd pull in about 120, I just have been living a frivalous lifestyle too long now. I think settling down and maybe finding a nice girl to complete the equation would actually improve my situation.
#45
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Between the house, cars, mods, credit cards, im around $175K in debt. Not including my child support every month for 15 more years. OH man you have to love the American Way!!!!
Chris
Chris