To sell or not to sell....

[99RangerKrazy]

So here's where I am. I don't really know what to do, kind of looking for advice.

I'm a Senior in high school, senior class president. I'm taking several AP courses. I also work 20+ hours a week, $7.98 an hour. My truck payment is $200, half insurance $50, gas ~$100 per month. So I'm looking at roughly $350 a month just to get it on the road. My problem it is becoming very hard to balance my school work with planning our senior events (graduation, barbeque, baccalaureate, party, ect.) and then throwing work in the mix. I'm going to have to take a cut in hours to around 12 or so because of school. So I'll make about, after taxes, $280 a month, not nearly enough to pay for it. I talked to my parents to see what they can do to help me out, since I have a 3.9 gpa and ranked 11th in my class of 360ish. They (they being my mom, my dad didn't say anything which means he hates it) said that they will help me by paying half the payment and insurance, but I will feel terrible using their money. Just wondering what you guys would do in this situation. I mean I can always buy another truck, get another job, but I guess an education is a must. But I love the truck, my parents don't really want me to sell it, but gosh. I just don't know what to do. Thanks for listening haha, and to replies.

 

[LittleBigFoot]

I'm in the same shoes there man. Except I'm no where near a 3.9 and 11th ranked. I'm payin full coverage of around $140 and $250 a month to pay off the $3,000 dollar loan.

I'm teachin guitar to pay the bills, and it's a 100% comissions sorta deal. Business has been rough latly. I'm hardly makin enough to keep her on the road.

For school I changed my coverage, and started taking the bus, and only use the truck when I need to. I save about $180 bucks a month that way.

I've sold guitars to cover costs and in the end it's never worth it.

Ever think about tutoring? Usin your noggin to bring in a bit more

What ever happens, good luck, man.





Adam

 

[PARKINGLOT]

man, I'm glad I'm not in school anymore and I work full time...

 

[odie1969]

well if you sell the truck how will you get to work and school and if you need a car what would you get to replace it and how much will the replacement cost you.
But it all you, good luck with whatever you decide.

 

[85_Ranger4x4]

Are you going to be able to afford it while in college? A reliable vehicle is very nice to have while on your own, but if you can't afford the one you have it won't do you much good either.

 

[booblinker]

Just dont work less hours. Im at school 22 hours a week, and work 40. And when i was in highschool i was working 30+ hours and still got like a 3.8 my senior year.

 

[MAKG]

Sell the expensive POS and buy something you don't have payments for. But not for an '85. An '86 cost almost exactly the same and has fuel injection. It really works better.

You can get a working car for as little as $500. Once, not every month. My undergrad student did this when he blew up his Probe. From a dealer, no less (it was an ugly Pontiac LeMans TBI with a not-too-big dent in the driver's door).

The car I drove in high school was bought for $300 -- a butt ugly faded white 1975 Impala with a 350/350 and a caved in rear. It was 1985-86. I went to college with only two wheels and no gas tank. I *could* have done that in high school (and probably should have).

A car is simply not a necessity. A car *payment* doubly so.

 

[CJREX]

Time to sound like the old wizened prospector...

Put your education first.

It's not worth jeopardizing your future earning potential by getting hung up on a truck now.

There's only a gajillion (my youngest son's favorite number) or so Rangers out there so one will likely be available when you finish school and need another one.

Sell the truck, get something you can afford, finish your education, get a decent job, THEN get a nice truck.

Not the fun way and surely not instant gratification, but instant gratification can become constant misery it you let it.

If payments on a vehicle are putting you in a bind, it probably won't seem so nice to drive after all.

 

[85_Ranger4x4]

The only problem with buying a $300 car is if you depend on it can leave you high and dry without warning. Sure I never have put the same money per month in the two older vehicles I have had as I do payments on my F-150, but they had both left me high and dry and in my parents Explorer until parts came in. Granted I could have bumbed a ride with a friend or even walked the 2 miles to highschool in winter when my A4LD left me, but college was 120 miles away and in a different state when the $150 dampener pulley let go on my Laser during Thanksgiving break. It only took a week and a half to special order, dealer only item of course.

Your parents are probably willing to help you out to keep you in something they feel comfortable with to get you from A to B.

 

[Will]

Leverage for the future, man. That truck ain't part of the future. Shitcan it and take the bus.

 

[RaginRanger]

why are people in highschool driving newish vehicles in the first place? That's just stupid, live within your means.

 

[almostclueless]

You're doing a good job keeping school your number one priority. You'll thank yourself later. Keep your chin up.

 

[MAKG]

The only problem with buying a $300 car is if you depend on it can leave you high and dry without warning. Sure I never have put the same money per month in the two older vehicles I have had as I do payments on my F-150, but they had both left me high and dry and in my parents Explorer until parts came in. Granted I could have bumbed a ride with a friend or even walked the 2 miles to highschool in winter when my A4LD left me, but college was 120 miles away and in a different state when the $150 dampener pulley let go on my Laser during Thanksgiving break. It only took a week and a half to special order, dealer only item of course.

Your parents are probably willing to help you out to keep you in something they feel comfortable with to get you from A to B.

Leaving aside for the moment that reliability isn't that bad even for very old vehicles, you can buy TWO $300 cars and STILL be WAY ahead of a $200/month car payment in very short order.

I have been stranded exactly once with a breakdown in 23 years of driving. All three of my current vehicles (plus the former Bronco II) had over 200,000 miles on them. That POS Impala never broke, though its fuel mileage blew chunks (you don't buy a 350 for economy) and it was very ugly. My student's Probe blew up because his drunk passenger put the transmission in reverse on the highway, and he never changed the timing belt (until it broke...oops). You can't blame the car for either of those.

You DO have to budget for maintenance and repairs, but it's FAR cheaper than car payments unless you do stupid stuff.

THE way to get a cheap car is one that has been maintained, but looks like s**t. These are not rare.

 

[85_Ranger4x4]

Leaving aside for the moment that reliability isn't that bad even for very old vehicles, you can buy TWO $300 cars and STILL be WAY ahead of a $200/month car payment in very short order.

I have been stranded exactly once with a breakdown in 23 years of driving. All three of my current vehicles (plus the former Bronco II) had over 200,000 miles on them. That POS Impala never broke, though its fuel mileage blew chunks (you don't buy a 350 for economy) and it was very ugly. My student's Probe blew up because his drunk passenger put the transmission in reverse on the highway, and he never changed the timing belt (until it broke...oops). You can't blame the car for either of those.

You DO have to budget for maintenance and repairs, but it's FAR cheaper than car payments unless you do stupid stuff.

THE way to get a cheap car is one that has been maintained, but looks like s**t. These are not rare.

It isn't the money to fix that is the problem usually, it is the downtime that bothered me. It took 2 weeks of evenings to put a used tranny out of a $300 wreck in my Ranger (counting taking it out of the donar) and a week and a half to get parts in for my Laser, out here in the middle of nowhere public transportation is nil so if you don't have a backup you are walking. That varies from area to area obviously, but is something to think about.

 

[ranger1999 Bob]

look your parents will help you out with the truck payment you know what you have keep it any used car is a headache and most cheap rides are late for the boneyard. When you get out of school and start working use some of them smarts to find a way to pay your parents back, even if its only like $25 a month. there is such a thing as being penny wise and dollar foolish.. Hope that helps