What Would You Do...?

Ok I have an 03 with over 80k miles racked up. i've invested 10k in mods and I still owe the bank 28k. I'm in the military and what do all good service members do? Go overseas. I'm out of here in dec to play in the gulf from anywhere between 1 year to 3 years. the later being if i reenlist. if not then only 1 to go. No i will be makin a significant amount of your tax dollars thanx to tax free zones and lots of incentive pay. i can easilly save 50k+ a year. if i re-up i'm lookin at an ill 45k to do so. i could gross near 90k in 07 alone.
So here is the dilema. I love my G, and with all the options to keep building I want to do that. I mean with beefin up the engin, SC's & Turbos, suspension, interior, exterior mods I could really have that car show worthy and over all bad ***. I'd have the funding to do it.
On the flip side i could just call it a day and trade it in for a gen2 G sedan. I really am not sold on the gen2 because THAT is an old mans car BUT it would be the new new. The gen2 coupe is pretty friggin tight, but i'm not really a coupe guy. I could possibly, and most likely, be overseas until winter holiday season of 09. Buy then there should be lots of new mods to make the gen2 less camry-ish.
Should i keep the 03 and turn it into the show car and get a new daily driver. OR just pay off my G and use it as trade in bait for somethin else? Or do something i havn't thought of yet? lol

Help a dude out.

 

Drive the G till the wheels fall off. With your projected income, save up and buy a house or a rental unit.

 

^bump

 

+111!!, not worth turnin it into a show car

 

^^^^save money and invest into somthing else

 

oh yeah!!!! that's actually a much more responsible route. lol +1
the only reason i've not thought about buyina home is because i'm not stable. i pick up and re locate every 3 years. so i was always considering that as something i'd do later in my career when i see myself and become fixed in one location

 

I would suggest keeping the car, if only because you couldn't sell it for what you owe on it, due to mileage and mods.

The main issue would be careful storage of it. If it is 3 years, then you want to take proper care (there is a procedure to follow).

Take care.

 

an 03 and you still owe $28K?!?!?!

i'd stop spending so money on that car and start paying her off first

 

Totally with him on this. You never start putting that much money on mods when you still owe that much on a loan. Had you been under $10,000 then I would be like by all means, but 28 that's a lot. Have you been paying $100 a month since buying the car?

 

Maybe he was upside down on a tradein car. If he had bought it used for, say, $25K, and rolled over $8K, then he could still owe that kind of money after a year or so.

Not everyone does like I did, $10,000 down, 3 years of payments, then a $11,000 payment to pay it off 2 years early Of course, I don't put money for mods on it either.

 

DING DING DING!!!! +3 I bought it in Jan of 05. The car was 25K on the lot lol my loan was for 33K. I pay $600 a month on it. y'all do the math.