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Sell or not to sell (Blue RS2)

This is a discussion on Sell or not to sell (Blue RS2) within the Focus RS Discussions forums, part of the Focus RS Forums category; Hey folks, I really love my RS. I bath it weekly. I realize that doesn't convience anyone that I love it but I made a ...

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Thread: Sell or not to sell (Blue RS2)

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    Question Sell or not to sell (Blue RS2)

    Hey folks,

    I really love my RS. I bath it weekly. I realize that doesn't convience anyone that I love it but I made a rather impulsive decision to vacate Virginia this year and I ended up purchasing a home. Money is a little to tight and my job security isn't the greatest. Seems I might have to take a cut in order to jump which means I have to drop some of my debt. I purchased the RS when I unfortunately living at home so I had the extra funds. Right now I make it pay check to pay check but if something pops up I would be S.O.L. I don't like being here. Suggestions or ideas? I haven't found any part time jobs yet that are remote type work.

    C++ programmer
    beginner automotive painter
    Virtualization
    Citrix
    Linux / Windows admin
    A.D.

    I am still about 10k upside down. I've already paid down 11k this year alone. Looking for pearls of wisedom, ideas. I am not set on anything. Since many of the folks here are a bit older like myself I am looking for new ideas.
    Sean
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    Being 11k under really limits your options, unfortunately. You are going to have to bake that into whatever car you end up replacing it with or taking out a straight up loan to pay it off. I've seen a few people try and downsize and the payments for their "economy money saver" aren't that much lower thanks to the extra debt and higher interest rates a more risky loan brings.

    Can you cut budgets anywhere else to help pay off the car or save up some more money? I have some pretty aggressive savings goals for the end of the year so I've been trying to save money where I can. Just some areas where I have saved some money: Washing your car two times a week comes to mind. Yeah, I do love cleaning my car too but it can get very expensive if you are doing it properly twice a week. Food is another great way to save some money. I stopped (well mostly stopped) going to fast food or restaurants for lunch which alone saves me $60 a week. Any other hobbies that you have that you can put on pause for a season or two?

    I guess the biggest piece of advice I can give is really think it through before you make any decisions. I find it's really easy in these situations to make rash decisions that aren't any better in the long run. I've certainly been there and done that before.
    17BluefocusRs2 likes this.

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    Quote Originally Posted by Ayada View Post
    Being 11k under really limits your options, unfortunately. You are going to have to bake that into whatever car you end up replacing it with or taking out a straight up loan to pay it off. I've seen a few people try and downsize and the payments for their "economy money saver" aren't that much lower thanks to the extra debt and higher interest rates a more risky loan brings.

    Can you cut budgets anywhere else to help pay off the car or save up some more money? I have some pretty aggressive savings goals for the end of the year so I've been trying to save money where I can. Just some areas where I have saved some money: Washing your car two times a week comes to mind. Yeah, I do love cleaning my car too but it can get very expensive if you are doing it properly twice a week. Food is another great way to save some money. I stopped (well mostly stopped) going to fast food or restaurants for lunch which alone saves me $60 a week. Any other hobbies that you have that you can put on pause for a season or two?

    I guess the biggest piece of advice I can give is really think it through before you make any decisions. I find it's really easy in these situations to make rash decisions that aren't any better in the long run. I've certainly been there and done that before.
    Yea, I'm using my retirement to pay off my debt. Unfortunately, I have student debt which is even hard to shake. For me though if I can drop my car payment in half that returns a big chunk of money. The down side is I will completely unhappy in whatever I drive because I totally love the RS. Sadly, there really isn't much more to shave. We spend 75 bucks a week on food. the electric bill is only 100 bucks internet is 40. I have already consolidated my student debt the best I can. If I take a pay hit I really won't have much of a choice. I am hoping to find a part time job working second shift remotely. Than I could put money in savings and use the rest to pay off debt.
    Sean
    2017 Ford Focus Rs2
    --------Mods-------
    Turbo smart Bov
    Exhaust flapper bypass
    --------Detailing-------
    - Adam's car shampoo
    - Adam's rubber cleaner <New>
    - Chemicals brothers window cleaner
    - Adam's rubber cleaner
    - Adam's tire cleaner
    - Sonex Alcantara cleaner

    Looking for a place to shoot some paint
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    If I had a place to work. I should shoot paint for extra cash. That would be ideal. Or even some welding.
    Sean
    2017 Ford Focus Rs2
    --------Mods-------
    Turbo smart Bov
    Exhaust flapper bypass
    --------Detailing-------
    - Adam's car shampoo
    - Adam's rubber cleaner <New>
    - Chemicals brothers window cleaner
    - Adam's rubber cleaner
    - Adam's tire cleaner
    - Sonex Alcantara cleaner

    Looking for a place to shoot some paint
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    It sounds like you took on debt to purchase a car, and then took on debt to purchase a house. It sounds like you shouldn't have done either, but here we are. Both have high transaction costs to selling, so I wouldn't sell either unless you fall on hard times in an emergency. I'd look to see where else you can cut expenses, like stop drinking or going out to eat, or earn a little extra change on weekends, like advertising on craigslist to do bumper repaints and things like that. Save up enough that you have an emergency cushion and start working through your debts.
    Wes001 likes this.

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    Quote Originally Posted by gxbry View Post
    It sounds like you took on debt to purchase a car, and then took on debt to purchase a house. It sounds like you shouldn't have done either, but here we are. Both have high transaction costs to selling, so I wouldn't sell either unless you fall on hard times in an emergency. I'd look to see where else you can cut expenses, like stop drinking or going out to eat, or earn a little extra change on weekends, like advertising on craigslist to do bumper repaints and things like that. Save up enough that you have an emergency cushion and start working through your debts.
    Thanks for the advise. We don't eat out. My girl and I have stomach issues. We primarly eat at home. Really can't cut to much out. We are already living pretty thin.
    Sean
    2017 Ford Focus Rs2
    --------Mods-------
    Turbo smart Bov
    Exhaust flapper bypass
    --------Detailing-------
    - Adam's car shampoo
    - Adam's rubber cleaner <New>
    - Chemicals brothers window cleaner
    - Adam's rubber cleaner
    - Adam's tire cleaner
    - Sonex Alcantara cleaner

    Looking for a place to shoot some paint
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    I mean, you have all the necessary knowledge to have a decent job in the area. Fredericksburg is a little far out to make a DC trek everyday, but have you thought about the potential of looking for jobs closer to the city and moving a little further north?

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    Quote Originally Posted by ardevas09 View Post
    I mean, you have all the necessary knowledge to have a decent job in the area. Fredericksburg is a little far out to make a DC trek everyday, but have you thought about the potential of looking for jobs closer to the city and moving a little further north?
    I'm in Charlotte now. sorry never updated profile
    Sean
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    --------Mods-------
    Turbo smart Bov
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    --------Detailing-------
    - Adam's car shampoo
    - Adam's rubber cleaner <New>
    - Chemicals brothers window cleaner
    - Adam's rubber cleaner
    - Adam's tire cleaner
    - Sonex Alcantara cleaner

    Looking for a place to shoot some paint
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    Quote Originally Posted by 17BluefocusRs2 View Post
    I'm in Charlotte now. sorry never updated profile
    duuude, gotta come back to the hub! I have aspirations of leaving NoVA, but truth is, job security just isn't as good anywhere else. I know that doesn't help in the interim, but maybe something to consider, if possible.
    17BluefocusRs2 likes this.

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    Quote Originally Posted by ardevas09 View Post
    duuude, gotta come back to the hub! I have aspirations of leaving NoVA, but truth is, job security just isn't as good anywhere else. I know that doesn't help in the interim, but maybe something to consider, if possible.
    Yea, but the only jobs I was being offered were in Reston, Arlington, etc and that was just to far to drive. My last job was in fairfax a 45 minute drive and I would spend 5 hours a day on the road. 2 hrs to work, 2 to 3 coming home. I was burning out from nothing more than being stuck on 95 and having zero life.
    Sean
    2017 Ford Focus Rs2
    --------Mods-------
    Turbo smart Bov
    Exhaust flapper bypass
    --------Detailing-------
    - Adam's car shampoo
    - Adam's rubber cleaner <New>
    - Chemicals brothers window cleaner
    - Adam's rubber cleaner
    - Adam's tire cleaner
    - Sonex Alcantara cleaner

    Looking for a place to shoot some paint
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