well im screwed

[BlaineWasHere]

Sounds like this isn't a car you could afford in the first place.

[ipothas]

Another thumbs up for being a responsible adult.

[BlaineWasHere]

How do you even get a $33K loan for a $25K car?

[Calidrifter]

Find out what you are paying for. Sounds like they are trying to get you for back pay. But if the child was hidden there was no way you could have even attempted to not pay.

[wbradley]

Hey I am divorced from my first wife for 12.5 years and I have paid everything without fail, as high as $1500/month for 1 child PLUS additional expenses, summer camp, different lessons etc. I even made sure the max amount was contributed yearly to her education savings plan and I have a life insurance policy term until she's 19 to guarantee she makes it to university/college.

Kids are WAY more important than cars. Do what you have to do but embrace being a father and you will NEVER regret it.

[strat61caster]

Originally Posted by BlaineWasHere

How do you even get a $33K loan for a $25K car?

I can't seem to find this car for 25k, 33k is pretty much par for the course in California after tax, title, licence and dealer "options" *markups*

[IloveBaldEagles]

Best of luck with your situation OP. Get your life readjusted and this car will be waiting for you in the end.
We will be waiting for your return.

[BlaineWasHere]

Originally Posted by strat61caster

I can't seem to find this car for 25k, 33k is pretty much par for the course in California after tax, title, licence and dealer "options" *markups*

What the hell are you talking about? You can find cars without markups. I live in San Jose and I paid $25.2 before tax and $28,3xx after tax/reg ect with 100K miles warranty.

That's a hell of a lot less than $33K.

[fistpoint]

$33k is his financed rate after many years. He said he was $1k upside down already, so I think that means he put $0 down. APR was probably average at best too. That's how you get to $33k without a markup.

I'm guessing he paid around $28k for the car, + $1000 for upside down, and $3750ish interest on $29k borrowed at 4.9% @60 months.

It's kind of shocking that everyone in this thread failed to factor in the interest. I wonder how many people on this forum actually know how much their car is going to cost after 60, 72, or god forbid their 84th payment.

[czar07]

Originally Posted by fistpoint

$33k is his financed rate after many years. He said he was $1k upside down already, so I think that means he put $0 down. APR was probably average at best too. That's how you get to $33k without a markup.

I'm guessing he paid around $28k for the car, + $1000 for upside down, and $3750ish interest on $29k borrowed at 4.9% @60 months.

It's kind of shocking that everyone in this thread failed to factor in the interest. I wonder how many people on this forum actually know how much their car is going to cost after 60, 72, or god forbid their 84th payment.

Surely you dont have to pay all that interest after paying the loan off early?

[Foobar]

Originally Posted by czar07

Surely you dont have to pay all that interest after paying the loan off early?

Right. Early Payoff amount should be less than total term interest + loan.

He traded in a car that still had a loan on it so part of the new loan is covering his previous ride and he got a bad deal on purchase (or he added all kinds of dealer adds like warranties lo jack rust protection etc).

Sent from my Galaxy Nexus using Tapatalk 2

[Turbowned]

@marine321, also, tell your baby momma to get a damn job! I feel like I'm suggesting all the wrong things here, but here comes another one: an "exotic dancer" can make $270 in one night. One night. I have a friend who did it two nights a week through college, and guess what? She's graduated, debt-free, and now working a job in her field. Glamorous? No. Pays the bills? ABSOLUTELY.

[enjoi23]

...is it too late to wear a condom?

[BlaineWasHere]

Originally Posted by enjoi23

...is it too late to wear a condom?

Yes, but never too late for all of us to learn from the OP!