Is me Career over before it even started??

[jspeed87]

GEICO's been great to me and my wife, even with one accident on my wife's record, really wasn't too bad of an increase. Nothing that caused us an inability to save, invest, and live a comfortable quality of life. And we're both under 25. We'll welcome the above 25 rate greatly though.

Don't plan on leaving them either, not after 6 years. They've matched every competitor's quoted price as well, which might be why I'm happy with them.

GEICO was actually quoting me around 500. Progressive was the cheapest I could find. What if I trade it in at a dealer for a cheap used car that I could afford? To be honest I'm itching to start flight training ASAP. Even my parents want to see me getting into a career. I'm not into college life and I'm slowly running out of time.

 

[wheelsup]

I would call your insurance company and get some quotes on other cars. Also consider no dealer will typically sell "beaters" which you could reasonably get liability only on.

 

[Barty]

GEICO was actually quoting me around 500. Progressive was the cheapest I could find. What if I trade it in at a dealer for a cheap used car that I could afford? To be honest I'm itching to start flight training ASAP. Even my parents want to see me getting into a career. I'm not into college life and I'm slowly running out of time.

How much do you owe on this car? If you don't really have much time to mess with selling the car, it is an option, but keep in mind that most dealerships are only going to pay average wholesale for most trade-ins. You could end up having to come up with quite a bit of money out of pocket if they give you an unfavorable trade. If you can hold out a month, I'd try to sell it myself first. Speaking from experience, you'll probably get about 15-20% more for the car, depending on how much its worth right now.

 

[thehobbit]

GEICO was actually quoting me around 500. Progressive was the cheapest I could find. What if I trade it in at a dealer for a cheap used car that I could afford? To be honest I'm itching to start flight training ASAP. Even my parents want to see me getting into a career. I'm not into college life and I'm slowly running out of time.

what are you "slowly running out of time" to do? are you behind on the payments? or are you running out of cash?

 

[danielhv]

Bad news, I can't afford my car payment anymore! I can't believe this is happening to me, however my only option is to turn in the car to my bank. Does this mean I have no chance of attending ATP or even worse getting a job as an airline pilot? anic:

Edit: lol typo on the thread title, I sound like a irish guy.

Sell the car? Upside down? Sell it for market value, and get a loan for the difference to avoid a repo. Worse case scenario, if it goes on your credit as a repo, shoot me an email, I can have it removed.


Edit: Oh, and one more thing... get a cash car. Sure you spend some money fixing it, but the money you're spending on a car note could go to flight training and get you much further towards your goal than a nice car you don't own will.

 

[taseal]

Perhaps. . .but doubtful . . . some airlines do view your credit report and score to gauge if you're a trustworthy individual and are responsible enough to maintain your finances in good order.

Honestly, and this is my personal opinion - not some airline hiring board's - but if I see someone can't manage their finances in good order, what is to lead me to think they'll be able to manage their professional life in good order? Food for thought.

You under 21? Under 25? Any college education? Any debt associated with that education?

looks like everyone that was young and stupid should not have a professional life I guess.

you'll be fine dude. ppl get in with DUIs, i'm sure you'll get in with bad credit. people still do have a heart and can be understanding depending on the situation.

 

[surreal1221]

Young and stupid?

I suppose. I was young and stupid, but not as stupid as my peer group.

Really has nothing to do with being young and stupid, but realizing your mistakes and becoming a better person. Which, hopefully this individual does.

Nevertheless, young and stupid is nothing more than an excuse that seems to make it an acceptable practice to be young and stupid.

So if you failed to realize young and stupid is not an acceptable excuse in my eyes.

 

[danielhv]

This is me everyday..............:banghead: :banghead: :banghead: Seriously I just fell In love with the car, and had to take it home! RPJ, has giving me some motivation to park the car and remove the plates. I still don't know what I'm going to do. I really don't care much for my credit. I don't plan to buy a house anyway. I'm more of an apartment guy, maybe a condo. The only thing i would need credit for is flight training, and I can arrange that with my father.

I got news for you man, you made a bad decision... and from this post, it sounds like you aren't learning from it, and continue to make bad decisions. You bought a car, cant afford it. Thats #1. #2: park the car and remove the plates (what ever happened to owning up to your 1st bad decision here? HONESTY AND INTEGRITY) #3: I dont care for my credit... so lets just say hell with those who let me borrow money cause I dont ever want to own a house or buy another car, or a plane, or anything else for that matter... #4: My father will pay for my flight training... well thats fine and dandy... but when you become a pilot, and make $19k/year and then get furloughed and dont have any money, are you going to just not pay him either cause you already have what you want and dont need anything else from him? That ruins relationships, hence the saying "Never do business with family" See my point? You need to do what you can to MAKE IT RIGHT. Sell the car, get a loan for the difference and pay it. Take it to them and say sorry, can we work out a payment plan to pay the money I OWE YOU.

You can find an easy fix for all this (which it sounds like you already have)... but if YOU don't change YOU, the problem will just show up in another form (and usually more expensive each time)

Just my .02, its worth exactly what you paid for it.

 

[WAFlyBoy]

JSpeed87,

It sounds to me that more than anything you might benefit right now from some advice and education on managing personal finances. If you're going to college, look for a class on the subject. Also, I'd suggest doing some reading on the topic. Some good primers (in my opinion) are Rich Dad Poor Dad and David Bach's book series. Bach has some very good ideas on managing money to satisfy your own values and goals. Although these readings are not comprehensive or one-size-fits-all, they may introduce you to a new (and improved) paradigm on how to lead your financial life.

Once you have a good, structured understanding of money and how it fits into your life goals, you'll be able to answer your own questions.

 

[WalterSobchak]

Bad news, I can't afford my car payment anymore! I can't believe this is happening to me, however my only option is to turn in the car to my bank. Does this mean I have no chance of attending ATP or even worse getting a job as an airline pilot? anic:

Edit: lol typo on the thread title, I sound like a irish guy.

With any luck.

 

[taseal]

Young and stupid?

I suppose. I was young and stupid, but not as stupid as my peer group.

Really has nothing to do with being young and stupid, but realizing your mistakes and becoming a better person. Which, hopefully this individual does.

Nevertheless, young and stupid is nothing more than an excuse that seems to make it an acceptable practice to be young and stupid.

So if you failed to realize young and stupid is not an acceptable excuse in my eyes.

and how are you going to tell they realized from one single interview? are you a psychic???

 

[Patrick]

You can find an easy fix for all this (which it sounds like you already have)... but if YOU don't change YOU, the problem will just show up in another form (and usually more expensive each time)

Just my .02, its worth exactly what you paid for it.

Probably the smartest bit of advice in this entire thread.

 

[surreal1221]

and how are you going to tell they realized from one single interview? are you a psychic???

By their word choices, and humbleness in regards to the situations.

Psychic skills not needed. If they appear to be truly remorseful and can cite how they have learned from their poor choices; excellent - welcome aboard.

Oh I know what it is. . .we want to make sure that every person can chase their dream of flying for a living right? No matter what baggage they are bringing, right?

Well, personally - while I know most hiring departments are this way - if someone has a track record of poor decisions as a teenager and young adult, I unfortunately can not have the highest level of confidence in their abilities to maintain a professional posture.

Don't really think that's too much to ask, but of course we are lowering bar everyday right?

 

[Holocene]

Check with your bank, because I could be wrong, but most of the time in a voluntary repo, (which is what your talking about) your still on the hook for the difference between what you owe and what the bank sells the car for.

The bank will unload it for close to nothing to a wholesaler and you still get to pay for it. Might be better to gut it out and work extra jobs or something to pay it off or sell it yourself. At least that way your still in control, not the bank.

Nice avatar...:cwm27:

 

[N826AW]

Have you actually priced anything out with them???

I've been with GEICO since I was a 20 year old with a new leased car. They've always been the cheapest for me.

GEICO was actually quoting me around 500. Progressive was the cheapest I could find. What if I trade it in at a dealer for a cheap used car that I could afford? To be honest I'm itching to start flight training ASAP. Even my parents want to see me getting into a career. I'm not into college life and I'm slowly running out of time.

Why don't you have your parents pay off your loan or refi it in their name so you don't have a chargeoff on your credit?

 

[EnnisLynch]

Having a new car when I was 21 was one of the biggest financial mistakes I have made in my life. Ditch the sucker. Try to sell it or trade it in for a beater, a good story and a lot of patience and you can still come out on top.

I still remember how much fun I had driving around in my Ghetto Van that I purchased for 800 bucks. When I was done with it I gave it to a friend to abuse, it ran strong for 2 years.

With respect to ending your career you don't have to start in your twenties. Many people wait until later in life to become a pilot. That said there are still many options with which to use to get your pilot training: Military Service and Student loans are usually the easiest way.

 

[HeyEng]

Hello?!?! This is SOOOOO simple. Put the car in a lake. Done and Done.






Yes...that is some .


The kid has plenty of good advice, but he's got SJS and we all know there isn't a cure for that.

 

[jspeed87]

Hello?!?! This is SOOOOO simple. Put the car in a lake. Done and Done.






Yes...that is some .


The kid has plenty of good advice, but he's got SJS and we all know there isn't a cure for that.

Nope, I have STPS!

 

[surreal1221]

Still not an excuse to put yourself in even more of a poor financial position. . .

 

[Barty]

I've been with GEICO since I was a 20 year old with a new leased car. They've always been the cheapest for me.

I don't know, maybe its just where I live, but their rates have always sucked every time I got a quote from them. I even quoted just my wife last year on her Jeep, and it came out some $150 higher a year than the current coverage we have now and she hasn't gotten a ticket or been in an accident since the late 90s.