Am I overspending?

[boosted180sx]

The RAV4 is being used somewhat by my other family members and I really need something to make commutes not suck. If that puts me in a slightly worse off spot than having no car payment, I'm willing to sacrifice a few grand for that satisfcation. I just don't know if I can...GAH

your gonna be in an accord. Your commute is going to suck compared to the CTR

Hello - if you get rid of the type r to save money then do it 100%. Don’t get the accord. That’s a bad financial move too. If you are going to make a bad financial move may as well let it be worth it.

+1

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[Zeffy94]

I honestly don't think I can do it. It sounds rather uh ridiculous (well, maybe not to car enthusiasts) but I don't think I've ever felt such a deep connection to a vehicle before.

I have traded in vehicles before, obviously, but never have I once cried at the thought of getting rid of one. Even if this was a stupid financial mistake by me, whatever it may be, I seriously don't want to lose it. I've once thought that the only way I could get rid of my CTR is by losing it to a natural disaster, or getting taken out in some way. I think that's still what it'll take. I've been crying for the past two hours at the thought of leaving it at the dealership for good.

I thought I would be ready to call it quits, but I'm not ready. I've spent so much cash already it makes no sense to offload it anymore. Sure, it's been in two accidents, but guess what? When I didn't have it I felt a giant void in my heart. Every memory I've had isn't replaceable.

Instead, I'll try refinancing at the current balance to lower the payment down, even if I refi at 72 months again, pay off more debt, and work on paying off the CTR sooner. If those medical issues come back, then I will take that damn RAV4 until I feel well enough to drive the Type R.

I can't leave this car. Not now. I ain't going anywhere. Thank you guys for talking sense and giving me suggestions.

 

[slowride]

The reason I live at home is because I want to. I refuse to pay rent towards something that builds me absolutely zero equity. I will move out eventually. But I’ve been here since your age and have no intention of bailing anytime soon. Does it bother you that you live at home? It’s funny in my experience. It pisses everyone else off because they are jealous or don’t understand. I joke that I’m “Live in Tech Support” because I’m always fixing things and setting up the new gadgets.

This is how serial killers start out. Do a search for John Wayne Gacy and don't make the same mistakes.

 

[alvav]

I honestly don't think I can do it. It sounds rather uh ridiculous (well, maybe not to car enthusiasts) but I don't think I've ever felt such a deep connection to a vehicle before.

I have traded in vehicles before, obviously, but never have I once cried at the thought of getting rid of one. Even if this was a stupid financial mistake by me, whatever it may be, I seriously don't want to lose it. I've once thought that the only way I could get rid of my CTR is by losing it to a natural disaster, or getting taken out in some way. I think that's still what it'll take. I've been crying for the past two hours at the thought of leaving it at the dealership for good.

I thought I would be ready to call it quits, but I'm not ready. I've spent so much cash already it makes no sense to offload it anymore. Sure, it's been in two accidents, but guess what? When I didn't have it I felt a giant void in my heart. Every memory I've had isn't replaceable.

Instead, I'll try refinancing at the current balance to lower the payment down, even if I refi at 72 months again, pay off more debt, and work on paying off the CTR sooner. If those medical issues come back, then I will take that damn RAV4 until I feel well enough to drive the Type R.

I can't leave this car. Not now. I ain't going anywhere. Thank you guys for talking sense and giving me suggestions.

Don’t forget that the real cost of a car is the difference between the purchase price and the selling price once you sell it. The Type R will certainly retain its value more than the Accord. So it’s probably also the best financial solution, assuming that the monthly payments are reasonable enough for you.

 

[Zeffy94]

Ultimately the sentimental value of the Type R proved to be worth it (to me) over saving a few hundred bucks. Plus, like you said, the CTR would probably retain value better. That doesn’t even include the fact I’ve sank tens of thousands into it already - why piss it all away now?

Refi makes no sense either, so I’ve decided to find extra money to pay off the remaining debt as fast as possible and use that to help bolster the payment.

Also, I read that uh the 9th gen Accords were kind of problem prone.

 

[Pierito]

This is how serial killers start out. Do a search for John Wayne Gacy and don't make the same mistakes.

Lol I thought I'd seen everything there was to see in online automotive forums...and then I read this.

 

[Z06Chris]

Skipping over the Gacy advice because what the fuck

OP if you weren't interested in advice why did you make this thread? If you wanted to be convinced one way or the other, it sounds like there's a pretty solid consensus that you shouldn't keep the Type R and should get something more economical.

Instead, you've said "I recognize the consensus and reject it." Which, whatever, I'm not your dad, I don't care; but if all you wanted was validation that you could actually afford this you should have said that. Be honest with yourself and what you want. Do you want a car you can afford or do you want the Type R? This forum (and basically every other car forum) is eager to cheer on people living off ramen to afford too much car ("you can live in a car but you can't drive a house") and would have happily backed you up.


So, one more time:

Do you actually want advice on what car you should be driving with your budget, or do you want cheerleaders?

OP honestly sounds like the 19-22 year-olds that work for me. They want advice and they're given solid advice, but they do the opposite anyways. That's why so many young people trade-in cars with negative equity to cars they can barely afford. It's why they're willing to pay 20%+ APR as long as the monthly payment dollar amount looks doable. It's why they'll live in apartments or with their parents forever. It's a generation Z thing.

 

[boosted180sx]

i mean there was a number of responses here ranging from keep it to sell it and he made a decision.

 

[Drew03]

Lol I thought I'd seen everything there was to see in online automotive forums...and then I read this.

Right?! When I read that I was like wtf? My Dad has been in the ICU for the last week plus. I rushed him to the hospital. Me! Because I was home. How does that make me a serial killer for wanting to make sure my parents are taken care of?

 

[ASH_CTR678]

Skipping over the Gacy advice because what the fuck

OP if you weren't interested in advice why did you make this thread? If you wanted to be convinced one way or the other, it sounds like there's a pretty solid consensus that you shouldn't keep the Type R and should get something more economical.

Instead, you've said "I recognize the consensus and reject it." Which, whatever, I'm not your dad, I don't care; but if all you wanted was validation that you could actually afford this you should have said that. Be honest with yourself and what you want. Do you want a car you can afford or do you want the Type R? This forum (and basically every other car forum) is eager to cheer on people living off ramen to afford too much car ("you can live in a car but you can't drive a house") and would have happily backed you up.


So, one more time:

Do you actually want advice on what car you should be driving with your budget, or do you want cheerleaders?

I think you need to take into context what he would replace the car with......which is maybe a car that is a little more than $5k less than he owes on the CTR. And with the little equity he has in the CTR, he will be financing most of the cost of the new car. If he was willing to sell the CTR and drive the RAV4 or buy something in the less than $5k range.....that's a different issue. His flaw from the beginning has been focusing on payments and not overall cost......and there went a year and a half of his take home pay in a car.

 

[IceyD]

he doesn't need to replace the car. he has a paid off RAV4 just sitting there. that's the craziest aspect of this story.

 

[Zeffy94]

Skipping over the Gacy advice because what the fuck

OP if you weren't interested in advice why did you make this thread? If you wanted to be convinced one way or the other, it sounds like there's a pretty solid consensus that you shouldn't keep the Type R and should get something more economical.

Instead, you've said "I recognize the consensus and reject it." Which, whatever, I'm not your dad, I don't care; but if all you wanted was validation that you could actually afford this you should have said that. Be honest with yourself and what you want. Do you want a car you can afford or do you want the Type R? This forum (and basically every other car forum) is eager to cheer on people living off ramen to afford too much car ("you can live in a car but you can't drive a house") and would have happily backed you up.


So, one more time:

Do you actually want advice on what car you should be driving with your budget, or do you want cheerleaders?

I was interested in advice. And I evaluated everyone's thoughts and to be honest, it doesn't matter that I was trying to trade it in, because it didn't work. And now I feel like I can't just sell it either.

I didn't know what i wanted before. I was lost. It took me to talk it through myself to realize that there are other ways to save more money without resorting to getting rid of the car.

he doesn't need to replace the car. he has a paid off RAV4 just sitting there. that's the craziest aspect of this story.

I'm not replacing it anymore. It was a dumb decision by me but for once I didn't go through with it.

 

[SCOPESYS]

I'm not replacing it anymore. It was a dumb decision by me but for once I didn't go through with it.

So, back to not decreasing Expenses, so need to increase Income.
Give up some of that wasted "Free Time", and get an additional source of income.

ie WORK hard to PLAY hard ...

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