I’m a 22-year-old guy with $65k on my car and $27k in debt from credit cards, student loans, and a personal loan. I earn $29 an hour. The thing is, I’m emotionally attached to my car because it’s my dream car, but I know it’s probably a bad financial move. What should I do?
Earning 60k before taxes and driving a 65k car? Come on, man. You already know what needs to be done.
Bailey said:
Earning 60k before taxes and driving a 65k car? Come on, man. You already know what needs to be done.
Yeah, I get that, but I can work unlimited overtime. It feels like I can manage if I just work more.
@Jody
Sell the car, bro. Trust me. I was in the same spot a few years back, drowning in debt over a car. I sold it, focused on getting out of debt, and I’m in a much better place now. You can always buy another dream car when you’re in a good financial spot.
@Dallas
This is great advice. Downsizing now could save you a lot of stress.
@Dallas
Realizing that debt isn’t normal was a game-changer for me. I think that’s a realization many people don’t have until it’s too late.
Davin said:
@Dallas
Realizing that debt isn’t normal was a game-changer for me. I think that’s a realization many people don’t have until it’s too late.
Exactly. Social media makes people think living with tons of debt is okay because everyone’s showing off their cars and houses. But when you look at forums like this, you see people talking about saving and being debt-free. It’s a whole different mindset.
@Dallas
If I wanted to sell my car to get out of debt, where should I even start? I’ve never done it before.
@Jody
If you can work unlimited OT, why are you here asking for advice? At 22, no one should own a car that expensive. Sell it.
@Jody
You know what to do. Sell the car, work the extra hours, and pay off the debts. Simple.
@Jody
You don’t need a flashy car to impress anyone. Managing your finances will impress the right people way more.
@Jody
You already have your answer.
@Jody
Even with unlimited OT, there’s only so much time in a day. You’ll burn out fast.
@Jody
Here’s your solution: sell the car. I make twice what you do, and my car costs less. Either sell it or work yourself into the ground trying to keep it.
You already know the answer. Sell the car, work hard for a few years, and then buy it again when you can truly afford it.
If the car has to stay, there’s no real advice to give. Most 22-year-olds don’t have their dream car for a reason.
I once had my dream car. I traded it in and got something more affordable. You can always get it again later when you’re in a better position.
Dean said:
I once had my dream car. I traded it in and got something more affordable. You can always get it again later when you’re in a better position.
Exactly! You’re young, and you’ll have plenty of chances to own your dream car later. Focus on getting your finances in order first.
Dean said:
I once had my dream car. I traded it in and got something more affordable. You can always get it again later when you’re in a better position.
I traded in my dream car for a cheap Corolla. A few years later, I’m debt-free, and now I have a Camaro that I can actually afford. It’s worth it.