Reader Case Study - Selling Car I Just Bought?

[MrMonkeyMoustache]

Life Situation: Single filing status ATM (may not be next year), no dependents, West Virginia, USA, 23 years old, $500 in bank account (will have another $1k once I sell some fitness equipment, which I'm pretty close to doing).

Gross Salary/Wages: $20,736

Pre-tax deductions: 5% to 403(b), employer matching 100% up to 5% starting January

Adjusted Gross Income (POST-TAX): ~$16,800, $1,400 monthly

Current expenses/month: College Tuition - $200, Car Payment - $252, Car Insurance - $90, Credit Card Payment - $150, Food - $300/month (including dog food and flea and tick medicine), Loan Payment To Parents - $90, Dropbox Storage - $1, Amazon Unlimited - $10, Gas - $100, Non-Grocery Supplies - $50, Misc - $50, Phone - $55

Expected Monthly Expenses Next Year: Hulu - $10, Rent - $300, Utilities - $100

Total Monthly Expenses Next Year: $1758 (will be sharing finances and apartment with GF, so it's still WAY too close, but can just barely afford with our combined finances).

Liabilities: See above. Credit Card Payment - ~$7,500 ($8,500 limit), 25% interest rate, Car Payment - $13,500 payoff, $252 payment, 63 months

Specific Question: As you can see above, my finances are tight. A huge part of that is due to making a stupid car purchase. I bought a 2014 Honda Civic LX 4D Sedan. Nice car, and it'll last a long time (only 25k miles), but put down 5k on my card (out of only $8,500 limit), and still have the liabilities listed above. Too much to save any decent amount, especially for an emergency fund, to put away for retirement, in case something like a baby happens, or to pay for another class every semester (can only afford one out of pocket ATM).

It's through Ally Bank, and I believe I can work it out to sell the car (harder because they don't have a physical location).

Was thinking of selling my 2014 Civic, and getting a 6th gen one (between '95-'00). They last a long time, and don't cost nearly as much. My plan is to try to sell it for $14k, pocket the difference between that and the payoff ($500), and use that $500, the $500 in the bank, and some money from selling my fitness equipment to buy the Civic. Would probably have somewhere around 120-140k miles, so it'll last me at least the next 5 years. It'd definitely have far more repairs, but not $252/month of repairs for the next 63 months.

So I'd eliminate that payment, and I'm pretty close to paying off my $2,500 loan from my parents that costs me $90/month. I'd then use that $252/month, plus whatever else I could scrap up from working overtime, to start paying off my credit card debt. I'd like to take the money and do that instead of buying the Civic, but the car payment is the biggest bill that needs to go, so I'd have to go that route.

I do plan on living near campus, so it saves me quite a bit in gas (maybe $50/month or so). In total, I could be looking at about $410/month I could cut my liabilities down.

Does this sound like a good plan? I'm almost certain the best plan would be to sell my car, but not sure what I should use that money for. Pay off the $2k loan or 1/4 of the credit card debt and take out a new auto loan for the older Civic at my credit union? That would come with a 60-month payment schedule, though, so not really worth it. Outright buy a ~$2k Civic?

Any advice?

[marty998]

Do you really need a car? Does your girlfriend have a car that you can share?

Specific Question: As you can see above, my finances are tight. A huge part of that is due to making a stupid car purchase. I bought a 2014 Honda Civic LX 4D Sedan. Nice car, and it'll last a long time (only 25k miles), but put down 5k on my card (out of only $8,500 limit), and still have the liabilities listed above. Too much to save any decent amount, especially for an emergency fund, to put away for retirement, in case something like a baby happens, or to pay for another class every semester (can only afford one out of pocket ATM).

A baby doesn't "just happen". Not my place to admonish you but please grow up and plan for it properly. Don't just let it happen while you (and her?) are still studying and don't have proper "adult" jobs and incomes yet.

[MrMonkeyMoustache]

Do you really need a car? Does your girlfriend have a car that you can share?

GF has a car, but not only is it on the verge of dying, but we also work the same shift in two different cities. So, unfortunately, cannot go without a car. Now, I am hoping to get into the police academy this summer, which would not only nearly double my pay, but then I could go without a car, as my university, work, and apartment would all be very close to each other (will be living essentially right next to uni, and police station is just an easy mile or so run/bike ride from uni).

Specific Question: As you can see above, my finances are tight. A huge part of that is due to making a stupid car purchase. I bought a 2014 Honda Civic LX 4D Sedan. Nice car, and it'll last a long time (only 25k miles), but put down 5k on my card (out of only $8,500 limit), and still have the liabilities listed above. Too much to save any decent amount, especially for an emergency fund, to put away for retirement, in case something like a baby happens, or to pay for another class every semester (can only afford one out of pocket ATM).

A baby doesn't "just happen". Not my place to admonish you but please grow up and plan for it properly. Don't just let it happen while you (and her?) are still studying and don't have proper "adult" jobs and incomes yet.

Well, birth control can always fail. That's why I say that. We both agree that we would not like to have children until we both have "real" jobs (careers).

In the short-term, that could mean police for me. In the long run, I'm hoping to get my bachelor's in Computer Science and do software development.

[MrMonkeyMoustache]

I know I screwed up, just trying to fix it (and my future).

[ysette9]

First of all, yes, sell the car. You absolutely can't afford it. It basically costs a whole year's salary or more which is ridoinkulous.

Secondly, pay off that credit card. The balance and the interest rate are absolutely killing you.

Secondly, I am surprised to find myself suggesting this, but can you consider some school loans so you can free yourself up to just study? Police academy while hoping to do a career in computer science makes no sense. They are both full-time jobs and pulling in totally opposite directions. In your shoes I would work the absolute minimum that keeps you afloat, use loans to take up the test, and focus #1 super hard on school. That is your ticket to a bright financial future, along with not making any "oopsies" babies.

School is tough and deserves your full focus. It is your number one job and top priority. It sucks but it is an investment in your future that will give great returns. Your future self will thank you.

[ysette9]

And don't spend any more than $2k on a car at this point. There is no point. Get a pre-purchase check done first to ensure you aren't buying a heap of problems and then drive it until it dies. If you can get school out of the way as quickly as possible then you won't need it to last all that much longer until you have a real job and can afford repairs or a $5k replacement.

[MrMonkeyMoustache]

First of all, yes, sell the car. You absolutely can't afford it. It basically costs a whole year's salary or more which is ridoinkulous.

Secondly, pay off that credit card. The balance and the interest rate are absolutely killing you.

Secondly, I am surprised to find myself suggesting this, but can you consider some school loans so you can free yourself up to just study? Police academy while hoping to do a career in computer science makes no sense. They are both full-time jobs and pulling in totally opposite directions. In your shoes I would work the absolute minimum that keeps you afloat, use loans to take up the test, and focus #1 super hard on school. That is your ticket to a bright financial future, along with not making any "oopsies" babies.

School is tough and deserves your full focus. It is your number one job and top priority. It sucks but it is an investment in your future that will give great returns. Your future self will thank you.

My problem is that the money would only pay off about 1/4 of the credit card debt. So I'd still have a $100+ payment and still have to take a small loan for a car.

Not eligible for federal or state financial aid, unfortunately. Again, due to poor decisions on my part.

Police isn't my #1 career aspiration, but it would definitely provide immediate debt relief. They do provide tuition assistance, and after the academy, I may be able to go back to school in the mornings while I work night shift. That would be the plan, at least.

[ysette9]

You have several things going on here. First, you can't affford the car and it makes no sense to waste a year's salary or more on a depreciating asset. Get rid of that sucker.

Second issue is how to get you transportation. If that means borrowing $2k from a credit union then you may need to suck it up and do it. Much better than your current payment.

Third issue is the credit card debt. Pay it off as quickly as possible, whatever fork that takes. Maybe you pay off 1/4 now and make payments with your improved monthly cash flow situation. That is fine because it is digging you out of your hole.

Next: school. How far into your program are you, what kind of school do you go to, and what are your grades like?

[MrMonkeyMoustache]

You have several things going on here. First, you can't affford the car and it makes no sense to waste a year's salary or more on a depreciating asset. Get rid of that sucker.

Second issue is how to get you transportation. If that means borrowing $2k from a credit union then you may need to suck it up and do it. Much better than your current payment.

Third issue is the credit card debt. Pay it off as quickly as possible, whatever fork that takes. Maybe you pay off 1/4 now and make payments with your improved monthly cash flow situation. That is fine because it is digging you out of your hole.

Next: school. How far into your program are you, what kind of school do you go to, and what are your grades like?

I agree. Was an idiotic purchase on my part. No question want to rid myself of it. The payment would most likely be $50/month for about 5 years. Long commitment, but yeah, would be much better. Even though the cash would only pay for 1/4 of the debt and lower my payment only about $50/month, it would do two other things: it would improve my credit utilization (and thus score), and it would also free up available credit should a MAJOR emergency happen before I can save up enough for an emergency fund. So I'd free myself of the $252/month, but that's it.

However, the $90/month payment should be completed soon as well. So I'll have $360/month extra soon if I can pull this off. And that's only if I can't sell my other fitness equipment. I still do have about $300 worth of metal weights, a $150 flat bench, and some other things.

Would sell my overrated Sennheiser headphones, but that was a birthday present earlier in the year from my GF. Wouldn't sell those and make her feel like shit!

[ysette9]

Yeah, don't make her feel bad. Relationships are important, especially if you think it will last. Is she on board with your financial goals?

[KCM5]

Have you looked into scholarship programs or loan programs specifically for people ineligible for federal student loans? Talk to your financial aid office.

And yes, agree with all above. Sell the car. Consider getting a job close to home so you don't need a car to get to work.

[MrMonkeyMoustache]

^Yes, highly would be optimal to get a new job within running/biking distance of my apartment. Would save a lot on gas, could lane-split, get a great workout in, etc.

Yeah, don't make her feel bad. Relationships are important, especially if you think it will last. Is she on board with your financial goals?

She's on-board with most of what I'm saying, but fears that an older car would cost too much to repair (it would obviously cost more to repair, but nowhere near $15k over the next 5 years).

[Crazycarl]

your current car payment  = $3024 / year. That is like buying a 3k car every year. Getting rid of it will also rid you of that insurance payment as well.

I would do the Police. You could then go to school after and work your way up with the police. It would be a state job and should have other great benefits.

[MrMonkeyMoustache]

your current car payment  = $3024 / year. That is like buying a 3k car every year. Getting rid of it will also rid you of that insurance payment as well.

I would do the Police. You could then go to school after and work your way up with the police. It would be a state job and should have other great benefits.

Well, unless I do get into the academy and somehow have a take home car, I'll still need a car, do still need insurance. But it'll probably be much lower.

[Dave1442397]

Police work + computer science may lead to a nice position. I had a friend who worked in IT for the NJ State Police. That was a nice job - all the perks but none of the danger associated with regular police work.

[MrMonkeyMoustache]

I'm just scared I won't be able to work around my school schedule. But couldn't pass up doubling my salary.

[MrMonkeyMoustache]

Definitely need to fix my credit situation soon. I have three cards.

Capital One Quicksilver- $500 limit, no debt
Chase Slate - $500 limit, $500 balance (free balance transfer to save me from interest for 15 months)
Huntington Voice - $8,500 limit, $6,500 balance, 3% back on gas, 1% all else

[JLee]

I'm just scared I won't be able to work around my school schedule. But couldn't pass up doubling my salary.

If you just want a job that'll get you through college, police work isn't it. You can throw your school schedule out the window for ~16 weeks when you're in the academy.

[MrMonkeyMoustache]

I'm just scared I won't be able to work around my school schedule. But couldn't pass up doubling my salary.

If you just want a job that'll get you through college, police work isn't it. You can throw your school schedule out the window for ~16 weeks when you're in the academy.

Oh, I'd definitely take that semester off. And I could see myself making a career out of it, but only as a backup. I'd like to get the experience and money hopefully while in  school.

[ChpBstrd]

Another option for mostly weekend work is the National Guard. That comes with risks as well, like deployment! Yet, it also features a clear career path.

Or...if you want a weekend job, your local temp agencies might have something. They might also find you something closer.

Ditto on the comments about moving closer to work, or work closer to you. If you could be close to both work and school, you might just ditch the car and use Uber or Lyft as needed. That frees up major cash flow.

Your credit card balance is a dumpster fire at a fireworks stand. Do the "0% interest on balance transfers" dance until the music stops. In the meantime, consider a personal loan from a credit union or crowd site like personallending.

Finally, is there room for a roommate, or at least an airbnb? $200/mo would go a long way right now.

One more thing. Whatever you do. Don't get a pet.

[cchrissyy]

sorry to say what you already know is true - you can't afford the car and need to sell it ASAP
also your credit card balance is a huge emergency. at 25% interest, the balance you owe with double in roughly 3 years. the only way to pay it down and not watch it grow larger is to, well, aggressively pay that sucker down!

can you get another job?
can you get a roommate?
can you live without a car for a while?
sell everything you can, and pour that money right on to your credit card fire

you're in a pretty bad situation. I agree with exploring student loans and grants or whatever else can help you advance your education and get out of this tough spot. the police idea sounds promising. So does the reserves.  no matter what you do, the fact is you have lots of debt and a low income, you'l need to increase it in order to get ahead. Work another job.  Good luck!

[MrMonkeyMoustache]

Oh, how could I forget my biggest debts? Student loans...

$15k Sallie Mae with 9.5% interest
$30k Nelnet  with 5.5% interest

Both currently deferred, Nelnet will be income-contingent. Sallie Mae will be my target after paying off my card. Basically just going by interest rate.

Can't really afford much else besides the minimum payment, so I really do need that police job. Even if it means delaying school for a few semesters.

[MrMonkeyMoustache]

BIG problem: can't have title immediately transferred and sent to buyer. It'd send to me, and we'd have to go to the DMV to transfer it... Probably about a week after paying for it...

I doubt any buyer would do that. Sucks, because I'd never even think of scamming someone.

Maybe refinance through the credit union and do it, since they have a physical location and would have the title on hand.

[crimwell]

BIG problem: can't have title immediately transferred and sent to buyer. It'd send to me, and we'd have to go to the DMV to transfer it... Probably about a week after paying for it...

Ask around locally (you must know a relative or friend that has sold a car through a private sale) but you may not need to actually transfer title yourself. Most states have an easy way to just fill out some forms and give the old title with your signature indicating you intend to transfer to buyer and then they take that to DMV and get a new title.


Look at this unofficial website that purports to tell you how it works in WV: http://www.dmv.org/wv-west-virginia/title-transfers.php

Id for sure check on the real WV DMV website or give them a call or go in to see them but don't let this be a holdup.

[Cassie]

Also see what carmax will give you for the car.

[MsPeacock]

Yes, sell the car.

Can you do a balance transfer to a 0% internet card for the one that is currently at 25%?

Can you get a side hustle going - dog walking, baby sitting, house sitting,raking leaves, something to bring in more income?

Can you get another job that pays better? 

It sounds likely already have a pet? If you can, maybe find a friend or relative who is willing to adopt. You have absolutely not one penny to spare.

No hulu. Watch what you stream free.

Be extremely proactive in avoiding pregnancy. Multiple forms of birth control are your friend. And plan B of there is any slip ups with the methods you are using.

[MrMonkeyMoustache]

Now, one concern is that the payoff will be higher. Not sure how it works. My current payoff is about $13.5k. High interest rate (6.5%, I believe) and 63 months left.

Refinancing with the credit union would get me probably 4% for 60 months. DO you think this would make my payoff higher, or possibly even lower due to less interest? Not exactly sure. Would be great if the payoff could be lower. Would put that money immediately into paying back my card debt.

[MrMonkeyMoustache]

Yes, sell the car.

Can you do a balance transfer to a 0% internet card for the one that is currently at 25%?

Trying to do that. Actually just got the Slate card. Second I activate the card, will immediately call Chase to raise my limit (not only because I expect to nearly double my income this summer, but also because credit card companies salivate at the mouth at balance transfers).

Can you get a side hustle going - dog walking, baby sitting, house sitting,raking leaves, something to bring in more income?

Looking into mystery shopping. If I can't sell my fitness equipment, I could put ads up to do some park workouts (I'm obsessed with strongman/powerlifting).

Can you get another job that pays better? 

With my zero qualifications, nope. Hopefully that changes in February, when I start the process of trying to become a police officer.

It sounds likely already have a pet? If you can, maybe find a friend or relative who is willing to adopt. You have absolutely not one penny to spare.

Yup, have a 120-lb. black lab. Bad financial decision in hindsight. I know it costs me. But he's one thing I'm definitely not willing to compromise on. I'll stay loyal to that little guy until one of us goes.

No hulu. Watch what you stream free.

Not really a necessity to me, especially since GF already gets Netflix for just $8/month (I think that's reasonable for tens of thousands of hours of entertainment).

Be extremely proactive in avoiding pregnancy. Multiple forms of birth control are your friend. And plan B of there is any slip ups with the methods you are using.

Oh, we are. Birth control, and always have Plan B around. Use foam as well if we're ever out of condoms (even then, we rarely risk it, like once a year, lol).

[urover]

I will be the odd one out here, but I suggest you keep the car. Instead of selling what you alread have, I suggest you look into Uber. You don't necessarily have to uber much, just enough to pay for gas+payment+insurance for your month. Do this each month until you are no longer so financially strained. And once you're there, you'll not only have a higher income, you'll also have a new car that'll run for years!  And oh, you will also make plenty of contacts (if you're the chatty type) while doing Uber. It seriously wont't take too much time of yours to make enough to pay your car-related payments.

EDIT:

You might want to look at your phone bill. 55$ is huge. And, sorry but, what the heck's Amazon Unlimited?

EDIT2:

How are you only paying $1 for dropbox per month?

[MrMonkeyMoustache]

I will be the odd one out here, but I suggest you keep the car. Instead of selling what you alread have, I suggest you look into Uber. You don't necessarily have to uber much, just enough to pay for gas+payment+insurance for your month. Do this each month until you are no longer so financially strained. And once you're there, you'll not only have a higher income, you'll also have a new car that'll run for years!  And oh, you will also make plenty of contacts (if you're the chatty type) while doing Uber. It seriously wont't take too much time of yours to make enough to pay your car-related payments.

EDIT:

You might want to look at your phone bill. 55$ is huge. And, sorry but, what the heck's Amazon Unlimited?

EDIT2:

How are you only paying $1 for dropbox per month?

Amazon Unlimited is essentially like the original Netflix, but with books. I read/buy a lot of books, so it helps keep my spending there in check. Mostly math/programming books.

[ysette9]

Have you checked out your public library? I bet you can get most or all of what interests you for free there, including movies and television programs. Then again, if you are working and going to school, how do you have time to watch TV?

[Bicycle_B]

Yeah, find a way to get the cheaper car.  You're thinking logically. Keep it up.

On police work and programming:  do it!  You are clearly have already stated your priorities - computers long term, police as a powerful shorter term tactic. Each is an excellent option for the purpose.  +1 to the comment that they can go together eventually. 

I have a relative who earned full 20 year retirement as NYC cop, then became a programmer/entrepreneur.  Didn't start the next Facebook, but ended up with his small business winning the entire service contract for communications of a large city's police department.  Very good outcome.

PS.  Once you have a law enforcement background, consider focusing your IT learning in the security direction.  You might have some awesome synergies as an investigator of white collar crime, an audit manager, a high priced consultant to forensic auditors (auditors for businesses whose job is to investigate and prove fraud), etc.  And a straight up security consultant, having a license to hack and a license to carry a gun at the same time... if that doesn't make you a badass, it will at least give you extra appreciation when seeing "The Accountant"!

https://www.youtube.com/watch?v=DBfsgcswlYQ&t=1s

[MrMonkeyMoustache]

Alright, so update on everything. Good decisions and a bad one. Don't judge me, lol.

Had that $7,500 in credit card debt. Sold most of my fitness equipment, took that money and some in the bank to pay it down to $6,500. Will be getting a $750 bonus at work this Friday, am trying to sell some more fitness equipment for a very fair $250, and will be getting about $1,000 in tax refunds, totaling another $2k that will immediately go back to my credit card debt, pushing it down to $4,500.

Since I'm not currently living with GF, expenses are much less, so I'm still paying about $200/month down on my credit card debt before all of the above. I'm going to start pulling some overtime at work (a little over $12/hr after taxes) to pay it back even quicker. Maybe even working a double here and there. Nothing too crazy, but I should be able to pay off my debt by the end of the year, especially if I can manage to pass my police fitness test on February 28, and join the academy, doubling my salary.

Lowered the price of my car to the $13k payoff, so don't even care about making a profit at this point. Still no biters, but I think I'm getting close to getting out of that terrible deal. Will seek to take out a small auto loan of about $2k to buy a crappy older Civic (6th gen, '95-'00) that I can run into the ground.

Now, here's the bad decision. Once all of that is paid off next year, want to take out another small loan of about $2k to buy a late 90's - early '00's Honda Shadow. Hopefully, though, I'm a police officer by then, and won't even have to take out any loans.

[MrMonkeyMoustache]

Thought about pulling out of my Vanguard Roth IRA to pay down my debt even quicker. Even though I NEVER want to touch my retirement accounts, it's a matter of a 12% return and a 10% penalty on the small earnings (would only be about $70), vs. 25% interest, a higher credit utilization, and a higher credit card payment.

I have $693 in my Roth IRA from Vanguard. Even thought I don't want to really take it out, it may be the more financially-savvy decision for me right now. Thoughts?

[MrMonkeyMoustache]

Actually, with business deductions, and rolling over last year's net-operating loss, I may be able to get about $1,500 in tax returns.

I can have about $8k in deductions. Those would be taken from the 15% bracket, which would give me almost $1,500.

[Cassie]

You can't get an auto loan on a car older then 7 years and there is also a limit on the # of miles a car can have.

[JLee]

You can't get an auto loan on a car older then 7 years and there is also a limit on the # of miles a car can have.

Sure you can.   I financed a 2005 with 179k miles 3 months ago.

[MrMonkeyMoustache]

Damn, just got my W-2. After looking at what was withheld, I can only get about $500 back. Not $1000.

Still, will be able to pay down my debt more.

[Cassie]

When we bought a car from a friend a few years ago we were repeatedly no if it was over 7 years old.

[MrMonkeyMoustache]

Damn, I somehow must have filled out my W-4 correctly. Even after extensive business deductions, I'll probably owe money rather than get a refund :/

It just never goes my way. I really hope I can get the police job...

[JLee]

When we bought a car from a friend a few years ago we were repeatedly no if it was over 7 years old.

Different lenders have different requirements.  In my experience, Penfed will finance just about anything.

[MrMonkeyMoustache]

Even though it's not what I was hoping, I can't whine over the fact that I may owe taxes instead of getting a big return. All I can do is move on.

No bites on my car. May have to lower the price to 12.5k, and that's if someone would even bite. I have a feeling I won't be able to sell this car for anything even close to its value...

[Hargrove]

The situation you're describing is... all over the place. You can't afford it, but you're setting a trap for yourself by trying to do it all anyway. You need to focus down to half as many priorities.

You mentioned police "could be" your career but it isn't your "#1." That's an awfully hard career to pursue while pursuing another career which is also extremely expensive... while holding that much debt.

You mention twice expecting your expenses to increase with your combined finances. Why on earth would they increase if you split your bills? If one of you lives with parents, given only the info you provided, it sounds like that one should stay living with parents. If you expect your finances to get worse if you live together... you shouldn't. Where does the relationship go if living together sabotages your finances further? You hint at a wedding, but unless it's a civil stamp with one witness, you're not in a position to aim for that yet. If you're repaying a 2k+ loan to your parents monthly, it doesn't sound like they'll be ready to cover a wedding for you.

Headphones? Sell the headphones with the cheerful knowledge that your future together will be brighter if you don't go bankrupt.

Then you mention a dog you also can't afford on account of the debt emergency, which you are also not willing to give up...?

You may know physical fitness cert doesn't mean getting into an academy most places. Hopefully you already researched police careers in your state - my experience has never been that applicants get physically certified and then get a job in under a year, because the interview process takes a long, long time.

Right now, resolving your debt, handling a 2nd career, and moving in with your girlfriend are all mutually exclusive goals that you should probably tackle in that order. Student debt is not toxic, especially if you finish with a degree in Computer Science - that's a good choice. But if you're handling thousands or tens of thousands in very-high-interest debt instead of normal student loans to take it on, you're sabotaging yourself before you get there.

You don't have to say how you are ineligible for student aid, but 20k/yr is well under what FAFSA will typically help out with in ordinary circumstances. It's kind of amazing you have a 20k college job with a 4% bonus and a 5% employer match. That's maybe the best part going for you.

Current expenses/month:
College Tuition - $200 (you can't get this subsidized or deferred in college? If you are determined to finish CompSci, doing that would make it much easier)
Car Payment - $252 (already covered getting this lower)
Car Insurance - $90 (cheaper car also lowers this)
Credit Card Payment - $150 (this suggests you're paying the minimum, WHICH IS $6 LESS THAN THE INTEREST. This is absolutely your highest priority problem and you need to cut literally all other voluntary expenses to get rid of it)
Food - $300/month (including dog food and flea and tick medicine) Mmmmmm, Quaker oats and tuna. Cut that food budget by at least $150. Find the dog another loving home...)
Loan Payment To Parents - $90 (also can't be deferred?)
Dropbox Storage - $1 (ok...)
Amazon Unlimited - $10 (unnecessary)
Gas - $100 (driving just to work and school?)
Non-Grocery Supplies - $50, Misc - $50, Phone - $55 (Republic Wireless phone would save 20 bucks, cut the "Misc + Non-Grocery" categories down to one $50)

You really would do better to tackle one thing at a time here, because resolving one at a time makes all the rest easier. Taking loans and more loans to try to do all at once will cease to work if that car is repo'd or you run out of loans to continue with in college (and exit with no way to repay them). Best of luck to you.

[Dicey]

When we bought a car from a friend a few years ago we were repeatedly no if it was over 7 years old.

Were you talking to local banks or credit unions? It always depends on the lender and possibly the type/value of car.

[JLee]

Even though it's not what I was hoping, I can't whine over the fact that I may owe taxes instead of getting a big return. All I can do is move on.

No bites on my car. May have to lower the price to 12.5k, and that's if someone would even bite. I have a feeling I won't be able to sell this car for anything even close to its value...

Value is a tricky thing. Ultimately, it's only worth what someone will pay.

[MrMonkeyMoustache]

I'll update you guys some time tomorrow, but I wanted to address one thing. While I want to save as much money as I reasonably can, I'm not willing to do away with my best friend, my dog. You can judge me all you want for that, but how crappy is it that someone would give up the most loyal creature ever just for a few bucks? I wouldn't give him away even if someone wrote me a 1 million dollar check, no joke.

Call me anti-Mustachian all you want, but there are just some things I'm not willing to do.

Hey, I could also save money on stuff by breaking up with my GF! No more gifts or anything! But no, I love her. Some things ARE worth the extra expenses.

[MrMonkeyMoustache]

Actually, one quick update. Regarding the police career, contingent on me passing the 1.5 mile run a few weeks from now, I will have the job, and be able to save quite a bit when I'm gone for 4 months. After coming back, GF will come live at my parent's house for a couple of months until we find a good apartment that we can split 3 ways with her brother, lessening the burden even further on all of us.

Credit card debt is still an emergency, not really going anywhere. Had to make a few emergency purchases. But hopefully I can get something back once I do my taxes, and help pay it down (almost doubling my salary will help, too). Have had 0 luck with my car. My problem is that I can't really go much lower than the payoff amount, as it'll be money coming out of my pocket that I'd otherwise need to buy another car.

[MrMonkeyMoustache]

I doubt it VERY much as a rookie, but it'd be nice to have a take home cruiser with the police.

[Cassie]

I really hate it when someone tells someone they can't afford their pet. A pet is a lifetime responsibility until it dies.  So I applaud keeping the dog.

[Hargrove]

I really hate it when someone tells someone they can't afford their pet. A pet is a lifetime responsibility until it dies.  So I applaud keeping the dog.

Things can happen where people may need to realize they're not in the right position to care for another living thing, in which case caring for it doesn't mean hanging onto it no-matter-what. This is especially true when its care could suffer because you can't afford a complication.

If your complaint is that some people carelessly cast pets aside if it's financially convenient, yes, some people do that, and it sucks. It doesn't sound like that could possibly be the case here.