Appraisal

And you pay $300/mo?

 

Yes due to my high intertest rate.

 

I think we can all agree it wasn't a great decision to buy the truck. Let's try to help him out now as he clearly realizes the mistake.

At least he's trying now to figure it out instead of getting the truck repossessed, etc.

 

You paid a crap load for that truck.

 

With only 17k left on your loan, I would try going to a credit union and transferring your loan to a lower interest rate. Since your parents helped you pay for it, maybe they will co-sign with you to get a better rate.

The Tacoma will last you forever and it has a great deal of space for your upcoming college life (if you choose). Besides, you already have it.

 

Glad you've never made a mistake.

 

Wow really it's a high school kid relax man !

 

Lol at your payment, 300 a month for truck on a 5 year loan is cheap! 40 bucks a week is nothing, I use at least 40 bucks a week on my 4 banger subaru. Tough it out and keep the truck you'l be better off in the long run, and learn to drive with a light foot to save a bit on gas.

 

You probably drive like a shit teenager too. Adjust your foot to help with your gas bill.

 

No sir. In my opinion, I'm a good driver. No accidents, no tickets whatsoever. Plus speeds here in Hawaii are very low.

 

I would go to your parents and thank them for giving you some money towards your first car. Once they say "You're welcome" punch them both straight in the mouth and say "are you fucking kidding me.. you let a 16 year old kid with no credit and poor judgement buy a $32K dollar truck that I can't even afford the gas for.."

 

Sell it. Buy something with the money you'll get back for cash. Pretty easily done. The buyer gives you a check and you give them the truck. You pay the truck off with the check and give the buyer the pink. Pretty painless process

 

This feels like a troll thread.

Parents let their kid buy a 30k car while in high school? High school age kid on an island has to travel a lot? What is going on in this thread?

Lets assume this is actually real. Surely the loan isn't in YOUR name, it has to be in your parents name. I would ask what they suggest. They goofed up in more ways than one, they need to be in on the conversation.

My advice is sell the truck, let it be the only major financial lesson you experience in life and buy an older, used Tacoma or SUV that you can actually keep even with the gas cost. Spend some time learning to wrench yourself and go that route.

And I would also suggest to save yourself a lot of headache and misfortune later down the road and spend your free time looking up investing, budgeting strategies and ways to save for retirement.

 

How much you want for it? I'm interested

 

Uhh, he just asked what it was worth. I'm sure he WANTS what he paid for it, but his whole point was figuring out what he could sell it for.

 

Don't get me wrong. I can afford this truck. I'm only thinking twice about it because I'm looking at my future (college, etc). But I also want to save money. I make more than enough a month to pay off my bills and gas.

I only wanted to know what people think about the situation.

 

No, you can't afford the truck. You can currently make the payments. But you sure as hell can't afford it going to school 8 hours a day. Sorry.

 

Sorry, this thread is baloney. When you live in Hawaii, you don't put 3,000 miles on a truck in six weeks, unless you drive it to the mainland, and that's not very likely, is it? It's only 112 miles all the way around Oahu, and you can't really drive all the way around the coastline.

There are other parts of this story that smell fishy too, but maybe it's just a load of poi.

 

I thought i was a good driver at your age too. Lol.

You drive like a shit, you just don't realize it yet.

 

In his defense I doubt in Hawaii you can really floor it wherever you go, however I'm sure he's a little heavier on the pedal than he will be in 10 years from now.

OP, what are you actually averaging MPG wise? Even saving 10 dollars a week on gas with something different over 6 years it's only saving about 3k. Your gonna lose more than that selling it or trading it in. So my advice is keep it and tough it out. Think of it as a learning experience. Your already ahead of most kids your age