From the article: I Can't Afford My Payment! What Should I Do?
We all make rash decisions, and foolish purchases occasionally, but when you do it with a car you may end up paying for it for a long time. What's the biggest mistake you've made? Or that you've watched someone else make? Share Your Mistake
- After working in the city for years I got a job in the suburbs that required a car. I convinced myself I "deserved" a Grand Cherokee. It's a nice car but the gas, insurance, and loan is killing me and the loan is still upside down two years later!
- —Guest NCC
young and dumb
- had a 06 jetta, wanted something "classier", bought an audi a6 2.7t for 8k, sold the jetta for 6k. about a week later both my turbos blew out, a 13k fix! now i have only 3k to buy a car when i had a good car to start with
- —Guest 22yroldidiot
Feel like crap..
- Traded in my PAID OFF evo x for a brand new GTR, worst mistake of my life. I can afford the payments but i have to watch my bank account now. Before i traded in the car I could buy whatever I wanted and not even worry about my bank account balance. Ugh... I can sell the car and break even but it sucks that because of this stupid mistake, my evolution is pretty much gone.
- —Guest Ugh
Not once but twice
- So I purchased an used SUV from an out of state dealer with advice from a mutual friend. I loved it on the surface but noticed issues. It smelled mildewed when I received it and had water in some areas. The dealer told me that it was from the shampoo. Put some air freshener and it was ok. Then a couple of months later check engine light started coming on. Took it to my local dealer and learned I had an oil leak . My car now needed about $3000 worth of work. A fast talking dealer said he could have me in a new car with no money down the same day. He was able to get me in a base level car financing my negative equity into loan. Car payment was $200 higher and I liked my car less. But it was brand new and had better gas mileage. Three weeks later I was in a terrible accident. Car could be repaired but would have been totaled if I had gap insurance, which I didn't. Now I owe about 15K more than my car is worth...and I hate my car.
- —Guest Mrs Baldwin
worst mistake ever
- long story short...I sold my nice nice truck for way cheaper than it was valued because my so called friend lied to me about his dad taking his truck, but its my fault for being so naive. Anyway, me and my girlfriend go and get a 2005 pt cruiser financed. Our monthly payment is 330. After the interest the amount of money we will pay is around 10k. I just looked up the kbb value, another naive mistake, I mean I should've looked it up while we we're at the dealership, but anyway...the freaking value is only like 3.5k for a good condition one. Ours has already broken down once and I feel it won't be the last time. If I could go back I would slap the me in the past and tell him to just keep the dang truck and get it fixed, which would've saved me probably around 5k in the long run. Idk what to do cuz we're like 2 months behind on the payments. I'm so retarded sometimes!!!
- —Guest drew
Mine takes the cake
- I have a 2011 328i BMW, traded in a POS car for it, and now I'm upside down. Well since the day I bought it, which was 4 months ago, it's been in the shop at least once a month for the same issue (possibly Transmission), so it's considered a lemon. Well I went to a lawyer, and they said it is definitely a lemon, but in order to get out of it, I'd have to pay off my negative equity which is $10,000!!! My payments are out of this world $793 a month for the next 56 months, I have no way out, I can't afford my payments anymore as my job changed. I am at a loss...
- —Guest Help...
The regret sucks
- I thought I could afford it, and I realized that was all I could do, just afford the car. Cant go out and im afraid to log into my bank account. Can't save a single penny and just wish I didnt cave into the desire for this car. You buy a car for the stupidest reasons and you soon learn that you don't need it. You may have a car now and are thinking of getting rid of it because it has "problems." DONT DO IT! Fix that car up and use your money to make it awesome, buying a new car isnt worth that feeling for a few short weeks. I love my new car but the truth is it wasnt worth the cost.
- —Guest Dont Do It
- Bought a used 01 accord neglected by previous owner. After dumping $3k in engine repairs, the trusted mechanic said we needed a new engine, which would be $5k. With no money left to rent a car, we drove the semi-dead car around for a few days to look at used cars. The month of inspection was almost over, so we had to buy *something* that wouldn't die on us. Panicked and Rolled over remaining debt into new car. Now Upside down on a new 2012 Ford Fiesta. 7% interest . Nice car, expensive payments. $339 a month. Can't make ends meet, can't sell it either. Only chance is to pay off enough principal to break even.
- —Guest Car Panic
- Had a 2001 camry with no payment and cheap gas but I decided I wanted to treat myself to an upgraded. Ended up with a g37 coupe with a car payment of 396 plus 150 insurance. Plus the car only requires premium. It makes me sick everytime I think I'm stuck with this for 5 years
- —Guest chaz
in debt because of this car
- I just got out of high school last summer and got a job paying about 15.00 an hour. I thought I was on top of the world. I went out and bought a brand new 2014 ford Mustang. Payments on the thing run me about 475 a month for 7 years! I lost my 15.00 an hour job and am now working for 13.50 at a coke bottling plant. Im struggling on bills because of this stupid car. Worst decision ever.
- —Guest cody
I just realized I made a hugemistake
- Ive read all 78 reviews and I realized that I've made a huge mistake. so in August 2013 I got my license. I'm 22 years old. A few days later I walked in a dealership with the mindset of getting a car note of no more than 250. I walked out with 373 for 48 months. By the way its a Chrysler 300. The car costs about 10-11 grand and he lowered it to 8 thousand so I'd be able to finance it. It totaled 10 grand. My interest rate is crazy high. I've paid 5 months now and my whole last payment went toward interest. I read my contract thingy and realized that over 48 months I would have paid 18000 dollars with interest included. I'm having trouble making payments and I dont want to turn it in cuz I still owe about 3 grand and I almost got tricked into trading it in for sonething else. Thank god I didn't. I have to learn from the mistakes of others and not rush into a decision. The car runs great to so why trade it for something cheap that might not work and I still have to pay for if it breaks down.
- —Guest zachary s
Stupid impulse buy
- I had a great used car, Toyota highlander '01. My state inspection was going to be expired the following month but I still had major issues with the car, therefore I would not be able to pass my inspection. I decided to get another car because fixing my highlander would be upfront 1k-2k and I didn't have that kind of money to fix the repairs and pass my inspection. So I went to a used family Kia dealership and bought a used $6000 gmc envoy. I actually got approved for a loan which of course made me think nothing of twice when I decided to sign the papers. Now I am stuck with a $6000 loan for a gmc envoy that I absolutely hate because gas is a big fat stinking mess when you are constantly driving all over the city. If I could had just saved at least a grand, I could of saved myself from this loan and this used car and these now occurring car notes that I will be paying off for the next three years. My highlander just needed to be fixed, that's all. But I had to impulse buy and regret it
- —Guest 23 year old mess
- Yeah I ran around for a year slowly deciding what car to get since I rid my perfect Nissan sigh... Anyway I was hard on salesmen like they are lying no matter, I was determined if I'm gonna get stuck buying new il do it right! Wrong. ! wtf it's hard to shop for a car without a car first off. Two I don't know where all the great used cars were but I almost thought maybe there were never any. And hate new cars ! No value and it's always a magnet for disaster. But I call to lease. They delivered a piece of crap Chevy ( lemon) Cruz to my door. Was awesome I stayed in pjs. Then a 6 months now popped tires, Eco friendly my ass, cost twice as much as any car I picked out with interest, dead battery, locked in , scratches ! , tail light. Lost job. And insurance goes up up I can't afford it. I at least would feel better if it was a good car! Fn bull D&M Leasing could suck it. Ran my credit thru so many banks I'm still getting denial loan letters. All that hard work with little credit I had :(
- —Guest I knew this would happen yet ... duh
Worst ever mistake of my life.
- I had a great vw golf that I traded in for an even better car ford mondeo, it was perfect and a fun car but then I made the most regretful mistake of my life and sold it and bought an opel monza, a car that nobody wants and the car with the worst trade in value, now im stuck with this falling appart piece of crap. Very sad choice I made!!
- —Guest Nico
- I know all you guys made a mistake and so did I , but let me give some advice , look at the car , get the best price, go home and think about it, if you feel , good about it the next day go and get it. best advice, believe me. grandad
- —Guest joe
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