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Discussion Starter · #1 ·
I'm 18 and I am moving away from home this week. I have a 00 GTi GLX that I got for hella cheap (sub 13k) and have put about 20k of MY money into. My parents have had no part in the buildup of this car other then my Dad's mechanic would help me with installs on the weekend. All parts were paid for out of pocket. I still owe about 7-8k on it.
I looked at my current financial situation and thought about. I am moving out on Sunday and I relize that my 275 a month car payment and and 250 insurance isnt that affordable anymore. I have my cell phone which is another $60 and of course the cost of rent, utilities and staying alive goes along with it. I can pull in about 1500 a month.
For some it would be easy to say just sell it and save yourself the payment. If I did that I would be out all my mod money as I cant expect to get it back and that would be a HUGE hit to me. Even more troubling to me than that is the simple fact that I love my car, nothing in the intire world has the same effect on me then even just looking at it, after all the mods I can look at it and see my personality, almost as if its an extension of myself.
If I sold it I am going to be honest and I would most likely get a Civic, they are cheap, reliable, and have a huge aftermarket for cheap isht to make em fast. Dont flame me for that because you have NO IDEA how much it pains me to type that I think that. I have owned 3 cars all European.
Sorry for the long post but I really dont know who better to turn to then car enthusiasts. Thanks and please take this seriously.
Edit* Knowing it says Civic there is driving me crazy, I will definetly be looking into other options but that was just an example.

[Modified by Demon_Dub, 2:19 AM 4-5-2002]


[Modified by Demon_Dub, 2:29 AM 4-5-2002]
 

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Discussion Starter · #4 ·
Re: what would you do?? (Henry)

Sigh........you'd think that would be the easy solution but my story is a sad one. I dont want to whine to you guys and I am sure you dont care to hear it, lets just say all my stock parts are locked up and the odds of me getting them are 0.
 

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Re: what would you do?? (elRey)

Is there any way you can sell off some of your mods to pay off the car? If you can get your car down $2-4k you may be ok.
If you have to let it go make sure it goes to a good home but with that much invested you should have the ability to sell off some pieces and pay it off. Then you have no car payment and your good to go.
elRay has a good point, the MkV isn't that far away, by the time your 21 you'll be ready to dump your MkIV and trade up. Do what you need to do to get by. Don't buy a honda, get a nice MkIII GTI if you have to, even a Golf Sport ( 2.0 is cheaper in the insurance department) but don't go to honda. I feel for you but I think it will all turn out ok, just hang in there you're at the begining of your journey and there are many fast rides still to come
 

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Discussion Starter · #7 ·
Re: what would you do?? (BoraSport)

There are other factors to consider as well, this VR6 isnt exactly "sipping" gas. Also the car is out of warranty (lousy 2 yr) but I have always had the comfort f a garage to park in and now that luxury is gone. I know none of you have seen the car since I havent posted pics but the reality of theft on this car is VERY real. Hell I wont even take it to the theater.
Also next year I start college and so help me god I am going, but I have to pay for it. Woohoo!! More debt!!!
 

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Re: what would you do?? (elRey)

Dont move out. Free rent, nice car, looks like your livin it up. Theres really no need to burden yourself with rent/bills/utilities/repairs etc...
Keep the car. Move out when your financially ready...
If you HAVE to move out, your car payments are freaking nice. You pay atleast $300 less per month than me and your cars almost paid off! shiet! nice.
keep on dubbin`
 

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Discussion Starter · #9 ·
Re: (kyokoris)

quote:[HR][/HR]yo cheer up dude.... i am 19, i guess you can sell all the mods on the fourm, and turn it back to stock and sell the car, then get a A1 or A2, and mod the SH*T out of it...

they are much nicer then brand new civics, and they have tons of potential to work on.....
good luck
[HR][/HR]​
I dont have ANY stock parts. I really dont want to tell the story of why lets just say its part of the reason I am in this situation. (No fault of my own, nothing illegal)
Ick new Civic.....not a chance. that was really only of an example I really dont want a Honda. An A2 would be ideal but I need a car that I can always count on and finding one like that quickly isnt going to be easy
 

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Discussion Starter · #10 ·
Re: what would you do?? (steez)

quote:[HR][/HR]Dont move out. Free rent, nice car, looks like your livin it up. Theres really no need to burden yourself with rent/bills/utilities/repairs etc...
Keep the car. Move out when your financially ready...
If you HAVE to move out, your car payments are freaking nice. You pay atleast $300 less per month than me and your cars almost paid off! shiet! nice.
keep on dubbin`[HR][/HR]​
I have to move out, no questions asked. I am still in HS and I cant put in all the hours I would like to. So I am a senior and I will be done in June but I have to spend every cent I have getting out of my house and once the bill start coming I dont know if I will be able to recover fast enough


[Modified by Demon_Dub, 2:49 AM 4-5-2002]
 

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Re: what would you do?? (Demon_Dub)

Then welcome to the real world =D
Gotta work hard to get the things you want/enjoy... If you can afford it... keep the car. If not..then hey. I'd rather have my ride and be broke till I graduate college, than take the train to school every day for 4yrs and be miserable. =D
I believe in you, Jedi
 

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Re: what would you do?? (Demon_Dub)

20K in mods... lets see, absolutely all of them replace stock parts? Take an exhaust for example... you can sell the exhaust system and require a trade-in of your buyer's stock exhaust. You still make some cash back and you get a stock part back in return. Same goes for a lot of other parts on a car. I doubt 20 grand in mods cannot be sold from a car.
Damn, 18 years old and moving out already? Why at such a young age? I certainly hope it's not "issues" at home. As steez said, living at home is the best...
Btw, you aren't I_Fly_GTI are you?
[edit] forgot to mention... don't let moving out/owning a car take over your priorities as a high school student... you *need* a high school diploma to get anywhere in this world.


[Modified by Deception, 6:58 PM 4-4-2002]
 

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Re: what would you do?? (Demon_Dub)

quote:[HR][/HR]Dont move out. Free rent, nice car, looks like your livin it up. Theres really no need to burden yourself with rent/bills/utilities/repairs etc...
Keep the car. Move out when your financially ready...
If you HAVE to move out, your car payments are freaking nice. You pay atleast $300 less per month than me and your cars almost paid off! shiet! nice.
keep on dubbin`
I have to move out, no questions asked. I am still in HS and I cant put in all the hours I would like to. So I am a senior and I will be done in June but I have to spend every cent I have getting out of my house and once the bill start coming I dont know if I will be able to recover fast enough
[Modified by Demon_Dub, 2:49 AM 4-5-2002][HR][/HR]​
Demon, take it from someone who is almost 30 and almost $20K in DEBT. DO NOT get yourself into a situation where you are financially screwing yourself over an attachment to a car. Especially at your age. You have *no* idea how hard it is to get rid of a large amount of debt no matter what the reason. ALWAYS remember that. Sometimes that requires making some very difficult decisions. And only making 1500/mo isn't going to help when you have bills up the wazoo. It will overwhelm you very quickly. You may not get ALL your money back, but if the car is in good shape, mods done right, etc., you shouldn't have too hard a time selling it. While it might suck to have to get a Honda, you will be glad you did the right thing ten years from now when you are financially stable.
Whatever you do, please don't make this an emotional decision. Use your brain and make it a business decision for yourself. Some sacrifices are worth it. Believe me. Good luck, bro.
Oh, and when you get that Honda DO NOT mod it. (If you're worried about theft, your Honda is much more likely to be stolen than any VW, just look at the stats.) Again, if you have limited funds, that is *frivolous* spending that will again land you in a tight spot. You will have plenty of opportunities in the future to build another car the way you want. Being on your own requires a lot of responsibility and discipline. You probably modded your VW because you didn't have to pay rent, etc. Now you do.
 

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Re: what would you do?? (Deception)

quote:[HR][/HR]20K in mods... lets see, absolutely all of them replace stock parts? Take an exhaust for example... you can sell the exhaust system and require a trade-in of your buyer's stock exhaust. You still make some cash back and you get a stock part back in return. Same goes for a lot of other parts on a car. I doubt 20 grand in mods cannot be sold from a car.
Damn, 18 years old and moving out already? Why at such a young age? I certainly hope it's not "issues" at home. As steez said, living at home is the best...
Btw, you aren't I_Fly_GTI are you?
[edit] forgot to mention... don't let moving out/owning a car take over your priorities as a high school student... you *need* a high school diploma to get anywhere in this world.

[Modified by Deception, 6:58 PM 4-4-2002][HR][/HR]​
I totally agree...part out the car if you need to. 20K in mods is quite a bit. I have a masters, live on my own and would find it hard to put that much money into a car...spend it on tuition and get a degree...then you can spend money EQUALLY on your car and your 401K...gotta be able to drive an S8 when I retire!
 

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If you were in this situation what would you do??

Sell the CAR!
Get a beater Honda civic or an Old Integra. You will thank yourself later when you have money to buy food with. Now that you will be out on your own, you have to remember the buck stops with you. Don't take the chance of messing up your credit either. Try to stay on a Money only policy unless an "Real" emergency comes up. Too many people use credit cards in their late teens and early 20's. I did make that mistake and paid for it several years later, the good thing is now I have plenty of cash in the bank and I don't use any credit unless I am buying something like a car. That is it,, have patients. Also get rid of the Cell phone, $60 a month is WAY to much, don't try to be a "player". Use Free internet access, think of ways to cut any and all bills down. Turn lights off when not in a room, simple easy things to do and it will carry you a long way. Also when you get your utilities bills they will always be higher then you think, so plan ahead.
I hope this helps, and when you reach your late 20's like I am you will thank yourself that you did wake up and take on the responsibility's of being an adult early in life. Trust me you will see friends that had mom and pops pay for everything, then on their own they cannot live up to the level they were at and have serious financial problems down the road.
Good Luck!
 

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Re: If you were in this situation what would you do?? (joesturbo)

Dude, dump the car. I was gonna get a 337, but the old finances kinda squashed that idea (I'm 19, still live at home, make $1500 a month easy, and i STILL couldn't afford it because of school(private college that costs my fat a$$ 18k a year)-hopefully it'll pay off). Anyhow, the point is, don't f' yourself over. And buy a pontiac so you have no desire at all to mod it. You and i both know that if you get another dub or a honduh you'll have to mod it. Good luck.
 

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Re: If you were in this situation what would you do?? (joesturbo)

sucks to be in this situation... if i was in your position, i would definately go to college, without it, not being able to afford a VW will be the least of your troubles... my car is paid for, but getting good grades in college and haveing a well paying job are a hard combo... as much as i want to mod my car, i need to leave money for other living expenses. again, i am gonna go with the crowd and say, either sell the car, or part it out for as much as you need.
if you sell it... you can always lease a beetle for 99 bucks a month
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Re: what would you do?? (Demon_Dub)

I don't know how to say this enough, but DON'T MOVE OUT!
I can't think of any reason to move out except if you're being kicked out by your parents.
If I had it all to do over again, I would milk staying at home as much as I could, save my cash and put it towards something useful.
If you have to move out, stay until June when you graduate, and put ALL your money into the car to pay it off. I think it would suck to sell a 30+k car (That you've put into it anyway) for maybe 15k... you're not just getting yourself into a more comfortable position by eliminating 7k of debt, you're throwing away a LOT of money in modifications... You'll never get CLOSE to what you paid for 'em all.
If it were a poll, I'd vote stay home and dump ALL of your cash into the car and pay it off quick, then move out.
I agree to dump the phone too, get a pager.

[/Rant]
 
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