Hi y’all. First time posting here, didn’t even know this was a a thing until I googled it. So I’m 20, work a full time job & do classes online towards a criminology degree. My 2006 Nissan Sentra got totaled while it was parked on the side of parents house back in February of this year & I had no way to get to my job so my dumbass thought since I had a full time job I could afford a new car. That is simply not the case anymore.
I make $13 an hour while working at a law firm, I make 40 hours a week, pay is biweekly so around $850ish per paycheck. My expenses are not much, just my phone ($75 a month, $125 for car insurance, & I help my parents out with some bills in the house). My car payment is at $429.89 with 7.5% with a co signer for 84 months. I put $3500 Down. I’ve had it since April 2018 till now & I recently just made another payment on the 20th. Thankfully the job has been stable & ive made payments weeks early since I want my credit to improve & don’t want to ruin the co-signers credit either.
Since I’m only 20, I haven’t had credit at all until now, it’s around the 650 range which I still consider kind of bad. The rest of my money goes into an ally savings account which I just made. I usually have around $300-$400 per check left over after bills & all.
I obviously don’t want to pay the car for 7 years, it’s a 2018 Jeep Cherokee, what can I do to get out of this? Can I trade it for something cheaper & better on gas or just pay it off in 7 years or what not.
Submitted August 23, 2018 at 09:02AM by myfathairylolipop https://ift.tt/2wl1bAo
