Hello Mustachians,
This is my first post, so Ill give you all some background. I work as a mechanic. I hate it but it pays the bills. I recently decided that I would give real estate a try. Lots of people get rich doing that, but with school I just really don't have the time and didn't want to accept that. I bought a rather nice car, a 2012 Hyundai Sonata because it would be presentable for my new-found work vs the riced out 99 Corolla that my girlfriend is now driving. and now on to the point....
I don't use this car nearly as much as I thought I would, because I don't do much real estate, and without the real estate income I can't really afford the car. Truth be told, I don't even want a car. I work 14 miles from where I live so I don't pedal, but I still ride. I am pretty much convinced that as long as I have a motorcycle and computer to rent cars on relayrides I don't even need a car.
The problem is, I financed the car and I owe more than its worth. Is it possible to trade down, or sell it for whatever it sells for and make payments until I'm free? I really don't know how to fix this but I know my Mustacian journey cannot begin with this $305 car payment hanging over my head, not to mention insurance.
I know I screwed up, but how do I fix it?