Anyone ever sell thier Charger to fund a business venture?

[JR]

Ok guys, serious question:

I'm 25, single, have paid down 25k in debt to 2500 over the last 2.5 years, and am currently working two jobs to make 19k a year. (if that isn't motivation to stay in school I don't know what is). I've been busting my tail doing whatever to get out of debt and free to make some serious changes. I've done pretty well with knocking out my debt, and I own a small house thats paid for in a small town.

I went to trade school to learn autobody and paint work after high school (for no other reason than I couldn't think of anything elese to do, inmature and dumb) worked for a small, struggling shop, worked 60hr weeks constantly, burned out. Now I work for an automotive trim shop doing custom work, but i'm only making 11 bucks an hour doing this, and I've come to realise the only money in anything automotive related, is to be the owner.

But I'm sick and tired of the two low paying jobs, and have been working to try and find my own niche. A friend and I have really been intrigued by the idea of opening up a local taxi service. (Not in the small town, but a college town 30 miles from my home). Its not that I ever dreamed of being a taxi driver or anything, but the initial startup costs seem ridicolusy low. (3.5k for used minivan, licenses, fees, equipment, etc) and I believe the business could be started for well under 10k. That seems about as cheap as you can get into any business for yourself, and worst case if it folds, we split a 5k loss a piece. That would suck, but atleast we would have tried.


Ok, I've gotta cut this short, but here's me.
Asset wise, I have
a paid for house. (worth 20k maybe? I know, crappy house, but as a single 25yo who cares?)
a 97 F150 4x4 (Worth 5.5k, I got it for 4 k, and only have 2500 left on the signature loan I used to get it)
an 86 Toyota AE86 (fun car/35mpg daily driver)
and my 70 Charger RT. Needs to be finished. But for the sake of argument, lets call it a 20k car.

I've had the Charger since I turned 16. It was my dream car I've wanted since i was a kid. well, You guys know why we love em so I won't get into that.

But the idea of 20k banked to start a business sounds more tempting every day than a car I can't afford to do anything with. (although it would KILL me to sell, the idea of unlimited income potinetial working for myself is tempting).

I don't think it's a good idea to put a mortage on my paid for house in case things go bad. That doesn't seem smart.

I could sell the truck, but 6k is going to go fast and not get me started I don't think.


So guys, serious question: What would you do?

[ZSmithersCharges]

Ok guys, serious question:

I'm 25, single, have paid down 25k in debt to 2500 over the last 2.5 years, and am currently working two jobs to make 19k a year. (if that isn't motivation to stay in school I don't know what is). I've been busting my tail doing whatever to get out of debt and free to make some serious changes. I've done pretty well with knocking out my debt, and I own a small house thats paid for in a small town.

I went to trade school to learn autobody and paint work after high school (for no other reason than I couldn't think of anything elese to do, inmature and dumb) worked for a small, struggling shop, worked 60hr weeks constantly, burned out. Now I work for an automotive trim shop doing custom work, but i'm only making 11 bucks an hour doing this, and I've come to realise the only money in anything automotive related, is to be the owner.

But I'm sick and tired of the two low paying jobs, and have been working to try and find my own niche. A friend and I have really been intrigued by the idea of opening up a local taxi service. (Not in the small town, but a college town 30 miles from my home). Its not that I ever dreamed of being a taxi driver or anything, but the initial startup costs seem ridicolusy low. (3.5k for used minivan, licenses, fees, equipment, etc) and I believe the business could be started for well under 10k. That seems about as cheap as you can get into any business for yourself, and worst case if it folds, we split a 5k loss a piece. That would suck, but atleast we would have tried.


Ok, I've gotta cut this short, but here's me.
Asset wise, I have
a paid for house. (worth 20k maybe? I know, crappy house, but as a single 25yo who cares?)
a 97 F150 4x4 (Worth 5.5k, I got it for 4 k, and only have 2500 left on the signature loan I used to get it)
an 86 Toyota AE86 (fun car/35mpg daily driver)
and my 70 Charger RT. Needs to be finished. But for the sake of argument, lets call it a 20k car.

I've had the Charger since I turned 16. It was my dream car I've wanted since i was a kid. well, You guys know why we love em so I won't get into that.

But the idea of 20k banked to start a business sounds more tempting every day than a car I can't afford to do anything with. (although it would KILL me to sell, the idea of unlimited income potinetial working for myself is tempting).

I don't think it's a good idea to put a mortage on my paid for house in case things go bad. That doesn't seem smart.

I could sell the truck, but 6k is going to go fast and not get me started I don't think.


So guys, serious question: What would you do?

Well first off go to an auto auction you can find a vehicle that is more than suitable for a much lower price.  Example: My friend who owns a shop bought a 2003 saturn station wagon 5 seats huge trunk one thousand dollars.  Runs fine only has 40,000 miles on it.  Given it needed new plastic on the front fender its much cheaper than 3500 bucks and is a good start.
Second off you had better be prepared to never see that car again.  And chances are if this venture fails it will be out of your price range maybe so even if it doesn't fail.  I'm not being harsh but I want you to be prepared.  Papa John's story was one in a million of getting his old car back and look what he had to pay for it to even get people to answer his calls on it!  If you think you could get 6000 out of your truck I believe that is MORE than enough money to get you rolling enough to at least get you an idea if you want to invest more in your venture or not.  Lets see what 6000 covers; Business License For Profit Limited Liability Company($200-300 usually Ohio's is 200), Tax ID(free),Vehicle($1000-3500) and that is all you really have to worry about from the start, I don't know what the meters for taxis cost so factor that in.  Also insurance factors into that as well you have to use different insurance from the one you have for personal use you have to pay for business insurance.  Now once you go to expand or you start making more money you'll most likely want to refile the LLC into an S-Corp to save more on taxes and liabilities.  NEVER do a sole-proprietorship or partnership filing as if something happens you and/or your partner are solely held liable and any assets you own are on the table for the courts to take away as settlement.  A limited liability company means if you get sued for an accident(lord knows they happen especially with taxis rushing from place to place) its not your assets they come after, its the companies.  So your personal property is protected.
I'm sure more people will chime in, and I really didn't proof read anything I just typed but it should get the point across.  Starting your own business can be one of the most rewarding and frustrating experiences all at the same time.  It won't be perfect so don't expect it to be, there will be problems and there will be days you want to just throw in the towel just like in your current situation.  But if you work hard at keeping your customers happy you will do well.  

Good luck brother.

[lisiecki1]

Ok guys, serious question:

I'm 25, single, have paid down 25k in debt to 2500 over the last 2.5 years, and am currently working two jobs to make 19k a year. (if that isn't motivation to stay in school I don't know what is). I've been busting my tail doing whatever to get out of debt and free to make some serious changes. I've done pretty well with knocking out my debt, and I own a small house thats paid for in a small town.

I went to trade school to learn autobody and paint work after high school (for no other reason than I couldn't think of anything elese to do, inmature and dumb) worked for a small, struggling shop, worked 60hr weeks constantly, burned out. Now I work for an automotive trim shop doing custom work, but i'm only making 11 bucks an hour doing this, and I've come to realise the only money in anything automotive related, is to be the owner.

But I'm sick and tired of the two low paying jobs, and have been working to try and find my own niche. A friend and I have really been intrigued by the idea of opening up a local taxi service. (Not in the small town, but a college town 30 miles from my home). Its not that I ever dreamed of being a taxi driver or anything, but the initial startup costs seem ridicolusy low. (3.5k for used minivan, licenses, fees, equipment, etc) and I believe the business could be started for well under 10k. That seems about as cheap as you can get into any business for yourself, and worst case if it folds, we split a 5k loss a piece. That would suck, but atleast we would have tried.


Ok, I've gotta cut this short, but here's me.
Asset wise, I have
a paid for house. (worth 20k maybe? I know, crappy house, but as a single 25yo who cares?)
a 97 F150 4x4 (Worth 5.5k, I got it for 4 k, and only have 2500 left on the signature loan I used to get it)
an 86 Toyota AE86 (fun car/35mpg daily driver)
and my 70 Charger RT. Needs to be finished. But for the sake of argument, lets call it a 20k car.

I've had the Charger since I turned 16. It was my dream car I've wanted since i was a kid. well, You guys know why we love em so I won't get into that.

But the idea of 20k banked to start a business sounds more tempting every day than a car I can't afford to do anything with. (although it would KILL me to sell, the idea of unlimited income potinetial working for myself is tempting).

I don't think it's a good idea to put a mortage on my paid for house in case things go bad. That doesn't seem smart.

I could sell the truck, but 6k is going to go fast and not get me started I don't think.


So guys, serious question: What would you do?

Well first off go to an auto auction you can find a vehicle that is more than suitable for a much lower price.  Example: My friend who owns a shop bought a 2003 saturn station wagon 5 seats huge trunk one thousand dollars.  Runs fine only has 40,000 miles on it.  Given it needed new plastic on the front fender its much cheaper than 3500 bucks and is a good start.
Second off you had better be prepared to never see that car again.  And chances are if this venture fails it will be out of your price range maybe so even if it doesn't fail.  I'm not being harsh but I want you to be prepared.  Papa John's story was one in a million of getting his old car back and look what he had to pay for it to even get people to answer his calls on it!  If you think you could get 6000 out of your truck I believe that is MORE than enough money to get you rolling enough to at least get you an idea if you want to invest more in your venture or not.  Lets see what 6000 covers; Business License For Profit Limited Liability Company($200-300 usually Ohio's is 200), Tax ID(free),Vehicle($1000-3500) and that is all you really have to worry about from the start, I don't know what the meters for taxis cost so factor that in.  Also insurance factors into that as well you have to use different insurance from the one you have for personal use you have to pay for business insurance.  Now once you go to expand or you start making more money you'll most likely want to refile the LLC into an S-Corp to save more on taxes and liabilities.  NEVER do a sole-proprietorship or partnership filing as if something happens you and/or your partner are solely held liable and any assets you own are on the table for the courts to take away as settlement.  A limited liability company means if you get sued for an accident(lord knows they happen especially with taxis rushing from place to place) its not your assets they come after, its the companies.  So your personal property is protected.
I'm sure more people will chime in, and I really didn't proof read anything I just typed but it should get the point across.  Starting your own business can be one of the most rewarding and frustrating experiences all at the same time.  It won't be perfect so don't expect it to be, there will be problems and there will be days you want to just throw in the towel just like in your current situation.  But if you work hard at keeping your customers happy you will do well.  

Good luck brother.

JR,

everything said above is on the money, all I have to add is:

DON'T SELL THE CHARGER!

My entire 31 years on this earth have been spent listening to stories of "When I was young....I had this car....I could kick myself for selling it...."  Please do me a favor and don't be that guy.   If you do wind up being that guy then don't tell me your story. 

[Todd Wilson]

With the economy being what it is right now I would keep doing what you are doing and finish paying off the 2500$ in debt and be debt free. From there you can start stock piling cash. Let things ride for a while and see where this economy is going to go. By the time things perk up you will have probably saved close to the 10k for your taxi idea. Or perhaps something else has come along. Usually when you arent looking.

If you own your own house crappy or nice the world cant hurt you a whole lot.  Under no situation would I put the house up for a bank loan in these economic times.


Todd

[Ponch ®]

I'd say don't sell the Charger (even though that's easy for me to say since I'm not the one in your position).

Whatever you end up doing, I gotta give you props for having the balls to be willing to take a risk in starting your own bidness and considering sacrificing your Charger.   

[69DodgeCharger]

You'll be sorry if you do.

[chargerboy69]

I am will have to disagree with most opinions here, but you will not miss it.  I have sold many Chargers.  A few were cars I had for years that I put a great deal of time and money into.  My last Chargers profits I put into a small camper and travel trailer business.  I was laid off by two different employers within a year and needed to make a change.  This summer was very, and I mean very good to my family and myself.  There will always be another one.  And in my opinion I do not see prices going up anytime soon,  so you should find one at a reasonable price when you are ready to buy.  Good luck to you.


Tim

[mikepmcs]

Don't be reactive(read that as impulsive).  You and your bud are riding on a brainstorming high right now and I think it is a great idea...taxi service college town = cha$$ching no doubt.  You've worked this hard and paid down your debt thus far, what's a couple more months of saving up.
Selling your Charger to me is not the answer. Hell, use the Charger for the taxi, use the truck for the taxi, use the toyota for the taxi, buy a mini van for a grand for a taxi etc..... I don't see you having to sell anything to fund this venture, just sit back take a breather and really put your head around what you want to do. Do not rush into just dumping everything on a whim.  
The taxi service idea is a great one and it really can't fail if you are the only game in town or just a couple of you around. You don't need a mint to get started, you are just anxious to get going, believe me I'm that way as well. I believe you will regret selling the Charger. I still regret selling my 70 Charger(first car) back in 84-5.
What's your buddy bringing to the table anyway? Just asking.  Anyway, I believe you can get in to a taxi service dirt cheap. $10k sounds a little steep to me.
v/r
Mike

[ZSmithersCharges]

Don't be reactive(read that as impulsive).  You and your bud are riding on a brainstorming high right now and I think it is a great idea...taxi service college town = cha$$ching no doubt.  You've worked this hard and paid down your debt thus far, what's a couple more months of saving up.
Selling your Charger to me is not the answer. Hell, use the Charger for the taxi, use the truck for the taxi, use the toyota for the taxi, buy a mini van for a grand for a taxi etc..... I don't see you having to sell anything to fund this venture, just sit back take a breather and really put your head around what you want to do. Do not rush into just dumping everything on a whim.  
The taxi service idea is a great one and it really can't fail if you are the only game in town or just a couple of you around. You don't need a mint to get started, you are just anxious to get going, believe me I'm that way as well. I believe you will regret selling the Charger. I still regret selling my 70 Charger(first car) back in 84-5.
What's your buddy bringing to the table anyway? Just asking.  Anyway, I believe you can get in to a taxi service dirt cheap. $10k sounds a little steep to me.
v/r
Mike

My thoughts exactly, If hes just the idea stormer make him VP and you the president.  The one with the money always gets the majority share and control.  What is he giving up to make this partnership work?

[JR]

This is FANTASTIC advice guys, thanks alot, keep the input coming. It's a reminder I should have stayed in school and not spent my 16-24yo years being stupid blowing the little cash I had, but then again experience is the best teacher. There's nothing elese in the world I would like more than to be sucessfull on my own, and not shoveling cash into my boss's hands for a little piece in return. I understand how bad the economy is, and it's probably a bad time to take a risk. But with such a low initial investment, and the potential return, I can't look away from this.

The town is a big college town and 30 miles from a HUGE military base, and within driving distance from two airports. I'm told by others in the business that the long drives to the airports are where the money's at. In addition though, being a college town its also full of bars, and drunk teens on the weekends. Seems like alot of potential here. There are already 3 taxi services here, two market fairly aggressively, but there's going to be competition in anything you do I suppose. And I'm HUNGRY, I don't really care what it takes to make a business work if I know there's payoff in it, then do it!

Borrowing money from the house wouldn't work in this economy, for obvious reasons as you guys stated.

Selling the truck would bring a good 6k, but I'm afraid that it will be gone in no time. After the vehicle, taxi meter, and other required business licenses/insurances, there's no coushin left here. Id really like to have some cash in reserve.

I have no idea how borrowing money from the bank for a new business would go, as a single 25 y.o. with no track record in any business. I do have an excellent credit score, probably 750 or so, but I dont like the idea of borrowing more money.

Keep the input coming guys, I"m all ears and very appreciative!

[JR]

Well the idea of my buddy coming in is we split the total investment cost/profits evenly. Being a small setup, we'd also split the driving duties.

I understand that there is more headache in a potential partnership, and less initial profit. However we have a mutual trust and it seems more efficient if we can both drive, and get a 2nd car running soon.

But I'm all ears guys, if you think it's better that I go it alone and hire help, him included, just tell me. My parents are business people, but I'm not counting on them for much help here. Not exactly the closest family if you will.

And I could bank cash without selling the car, it would just take me a while to bank the money when I'm making 450 bucks a week tops working two jobs.  And it maybe a combination of the burnout and being poor that makes me really want to get it going and potentially give up my car?

[69DodgeCharger]

Based on what I have seen in the past it is a really bad idea to enter into any type of business/financial venture with a close friend/relative.....If you want them to remain close friends or relatives. Have you tried to find private investors? If the business becomes successful enough you may be able to buy them out at a later point? Have you checked into loans and grants? Are you buying new or used equipment? Seems like with McBama throwing money away left and right some of it could trickle to you to start up a "service industry" business. I mean that is the future economy they keep telling us about.

[JR]

I honestly havent' checked into any grants as I wouldn't know where to begin to look. I suppose I could come up with a loan, but again I hate the idea of borrowing more money.

I hear ya loud and clear on the potentially wrecked friendship, and I can tell already I have more access to cash than he does. I suppose I could hire him, or make him a VP equivialnet position if need be. 

I do have a couple of people I know who maybe interested in becoming private investors, but I'll have to see how that goes.


Thanks again for the help guys!

[mikepmcs]

Also, have you been here?  http://www.sba.gov/localresources/district/al/index.html

I also forgot to mention about the buddy partnership deal. Rarely end well. If anything, and I'm sure you want to help him out, just hire him as a driver. If he has nothing to lose he will appreciate the job and if you get more successful, then you compensate him accordingly.  That stuff just ends badly and it sounds to me like you are the one that is going to be laying out the cheddar for this venture up front, am I wrong.

Like I said, I don't see you needing to get a loan, use the vehicles you have at first or buy a $1000 4 door ex cruiser or wagon, or mini van when you get the cash.  You keep the jobs you have and run the taxi service in your spare time, what little you have anyway.  That way you get an idea what you are up against when the time comes to make the jump, then hire your buddy on and give him the crappy shifts lol. or you get the vehicle, hire him to do the driving at first while you keep your jobs and then when it starts going good, take the plunge, and go full time with 2 drivers.
If your buddy balks at that and is pressing the split 50/50 and he isn't laying out the initial money, then you have definitely seen "the things to come" ..... in other words cut him out of the equation all together.
I applaud you and wish you the best.
Also, as far as pay, you pay your employee, you pay your business , and then you pay yourself if there is any left over.

[Tilar]

I gotta agree with Mike and 69dodgecharger here. Even though it's a good diea, don't jump right into this. Think about it. It is a good idea so while you stand back and look at the whole picture, don't be telling anyone about your idea until you can look at it with a clear understanding of what you are going to do. Also, any 50/50 business relationship with a good friend or family WILL turn a good thing bad. Think more along the lines of 60/40.  Someone has to be the boss and all parties involved must know who that boss is if you want it to work any longer than the first time one of you come in with another car without talking about it to the other "partner" first.

Oh, and don't sell the charger. 

[69DodgeCharger]

I gotta agree with Mike and 69dodgecharger here. Even though it's a good diea, don't jump right into this. Think about it. It is a good idea so while you stand back and look at the whole picture, don't be telling anyone about your idea until you can look at it with a clear understanding of what you are going to do. Also, any 50/50 business relationship with a good friend or family WILL turn a good thing bad. Think more along the lines of 60/40.  Someone has to be the boss and all parties involved must know who that boss is if you want it to work any longer than the first time one of you come in with another car without talking about it to the other "partner" first.

Oh, and don't sell the charger. 

And I would have to agree with Tilar. You're young and full of ambition right now. Sounds like you have a sound sense of finances and paying down debt/saving. These will serve you well, but this is a time to think first then act. Patience and educating yourself first would be very wise. As far as financing there are many, many options available to you. Ask around, talk to the cabbies of the other services. Have you checked into the safety and liability aspects of this? Are you putting up the majority of the cash and effort? Is your friend/partner responsible, finances, punctuality, doing what he says he will, how's his credit. It could affect the business. Is his license clear (no points/violations) there is a lot more to this than you may think. Selling the Charger to me is a sign of "jumping the gun" Take a breath, ask around, find out all your tax requirements and loopholes. How can you use them to your advantage. Keep in mind as our Govt. and Big Business continue to gut our manufacturing base that there will be more people entering into the "service" industry. Will you be able to compete and remain profitable? Have you taken any business management classes. I could go on and on but you should very carefull check into every possible aspect and scenario involved. Work for the best, but plan for the worst. DO NOT SELL THAT CHARGER! It could come in handy as a visual advertising tool for the business, and possibly even be used for tax write offs. Have you consulted an accountant? Business tax attorney..........It never ends.

[Neal_J]

Ever consider selling the Charger to finance, at least partially, a better education?   

A college education will last you a lifetime and may land your stand a better chance of landing a career rather than just a job.   

[69DodgeCharger]

Ever consider selling the Charger to finance, at least partially, a better education?   

A college education will last you a lifetime and may land your stand a better chance of landing a career rather than just a job.   

And 10's of thousands of dollars of debt at exorbitant interest rates. The college degrees aren't what they used to be. Still good things to have but no gaurantee of anything in todays world.

[derailed]

If your in the right location I think a taxi service is a great idea. I deal with them alot on my job and chat with some of the drivers about the operation. The owner of one company here makes out like a bandit. He has about 20 cars on the road and leases them to the drivers for $275 a week. Each car gets double shifted so thats $550 a week the cars bring in plus the owner gets 10 percent of the cash calls and the drivers pay for there own gas. I think it would be wise to run descent cars and not pieces of shit that will nickle and dime you. This guy operates newer impalas and camrys. Most of the drivers tend to treat the cars a little better when they lease them. Unfortunately its not the greatest time to be selling a Charger right now.

[Arthu®]

There is already a lot of good advise in this thread, but I would just like to add my 2 cents anyways. I don't know you personally and all the information I have on you is all based from this thread, which is not a whole lot to go on. But the way I see it you are a hard working guy and that is one thing that you are going to have to when you start up a business it is of course the american dream. But becoming rich or at least provide a decent living for yourself is not something that a lot of people have succeeded at. This post is in no way to discourage you, I applaud you for the fact that you are even considering this, especially in the current economic situation.

Now I have one basic question for you before we even start thinking about shaping a business. Why a taxi company (apart from the startup costs) and why a taxi company in that town?

Let's first start with the biggest problem (which others have already expressed a lot of good opinions about) and that the is the fact of the partnership. To be honest in my opinion this plan has the best rate of success when you would try it on your own. Especially if you do it like Mike has suggested and you keep your job or both jobs and first try to find out how you are going to manage this business. If anything the other guy can become either a competitor or maybe drive for you at a later stage.

Than there is the financing. There is no way that any of us can give you a perfect opinion on whether or not you should sell the Charger. There are a lot of voices here that are eager to say no don't sell it, but they are not in your position and I think it's very hard to honestly try to put yourself in someone else his position. So really ask yourself how much do you really love the Charger, both for sentimental reasons as well as the fun and joys it brings in your life currently. Could you do without or do you regret it not even starting it up once a week. It is very important to keep things that mean a lot to you close to you especially when you are starting a venture like this. Things can become stressful and difficult and I mean this in no way disrespectful but as you are single and not very close to your parents it might just make the Charger to give you just that little more support that you might need to keep going, moral is everything. I know that I honestly enjoy taking a spin whenever I want to clear my head or have some problems that I need to think about. So really this is a decision that you need to make on your own. Selling the Charger would mean an easy way to gain capital and in this economy every company that has capital can count itself very lucky.

I know we are not talking here about setting up a medium to large size company and even though it is probably not even mandatory to have in order to start up a business or get a small loan would that deem to be necessary, but to make a business plan is something I really suggest you do. You seem to have been brainstorming this idea quite a lot, but have you actually put them on paper in a certain order. Personally this always really helps me seeing the nitty gritty as they say it. These are economically challenging times to say the least, and despite positive news I doubt it is over yet. There are a number of resources both online and in cheap books that you can buy at any department store that show you a clear and simple way to make a basic business plan. If you were to make this I and others here (who most likely have a lot more real life experience as opposed to the theoretical knowledge that I have) would probably definitely not mind looking at it.

In which ever way this thing is going to work out I really wish you the best of luck and if you would like an objective opinion on something you can always e-mail me. I have my share in theoretical knowledge when it comes to corporate financing and marketing as well and have written my fair share of business plans and I might be able to help you a little, or at least try to. I love it when people take the effort and pride to make something out of a company and honestly it are a lot of small companies that take a lot more pride in what they do that a lot of managers in listed companies.

On a side note even though I like taking a spin to clear my head if it were the best way of financing a business I would never let that stand between me and the business venture, but like I said that is my personal opinion and it shouldn't mean squat to you. Just think about it rationally and you'll find the right answer, I'm sure.

Arthur

[Arthu®]

Ever consider selling the Charger to finance, at least partially, a better education?   

A college education will last you a lifetime and may land your stand a better chance of landing a career rather than just a job.   

A college/university education will definitely last you a lifetime and I can't argue that it gives you a better chance in getting a better paid job, I don't agree on the career part. It still takes special interest to create a career even with a higher education, it is a better starting point though.

[chargerboy69]

Ever consider selling the Charger to finance, at least partially, a better education?   

A college education will last you a lifetime and may land your stand a better chance of landing a career rather than just a job.   

And 10's of thousands of dollars of debt at exorbitant interest rates. The college degrees aren't what they used to be. Still good things to have but no gaurantee of anything in todays world.

  What?  Yea those 3% interest rates are a bitch.  Thirty grand for a bachelors degree is pennys compared to what you will gain from it. 

Now you do have to be smart and pick a degree you will be able to use.

[chargerboy69]

Ever consider selling the Charger to finance, at least partially, a better education?   

A college education will last you a lifetime and may land your stand a better chance of landing a career rather than just a job.   

Neal,


I applaud you.  That is a great idea.

[69DodgeCharger]

Ever consider selling the Charger to finance, at least partially, a better education?   

A college education will last you a lifetime and may land your stand a better chance of landing a career rather than just a job.   

And 10's of thousands of dollars of debt at exorbitant interest rates. The college degrees aren't what they used to be. Still good things to have but no gaurantee of anything in todays world.

  What?  Yea those 3% interest rates are a bitch.  Thirty grand for a bachelors degree is pennys compared to what you will gain from it. 

Now you do have to be smart and pick a degree you will be able to use.

Maybe I spoke too soon about the interest rates but my ex gf's loan companies were like mafia loan sharks. This was 6 years ago though.

[JR]

This is FANTASTIC advice guys. I'm at the 2nd job right now and only have a second, but thanks again for the help! This is the most helpful forum I've ever been a member of.

I have actually thought about using the money to pay for college instead, but basically I can't figure out what I would do. I had almost convinced myself to go in for computer repair/tech/etc, but then again there will be so much competition in that field as almost every young person these days is going in.

I suppose I am sort of anxious to just do something. It may stem from being broke all those years in debt and helpless while I had to take that measley pay I made because the bills were do and i couldn't afford school or to try anything. I've been really persistant on getting rid of my personal debt as I've learned debt=slavery. I'm never buying anything elese I can't pay for cash.

I'll chime back in here when I get off and anwser those questions, thanks again guys!