Topic: What would YOU do?

[summitlt]

Ok, just going into college. Needless to say im BROKE. Ive spent over $1500 in the last few days with truck payment, insurance, books and tools.

Right now, full coverage on my truck is $180, itll drop to about $70 liability. I need it to have full coverage for the loan on my truck.

To pay off the truck, would cost me $1300.  Then I could loose a $100 a month truck payment, and a $100 a month in insurance.

Ive got the truck, my dirtbike, which I think i could get $1800 for easily. My sled, which i could get a grand maybe. and the 750 which is worht nothing.

so the dirtbike makes the most sense to go. problem is, thats my backup ride right now. Im not sure if the 750 will be reliable. Since ive never ridden it. And if the truck dies, i have no way to go 20 miles to school. The 750 should be fine, but I dont know.

What would you do?

[BobbyR]

Having been a loan officer and hauled people out of big problems. I would say dump he sled and dirtbike and pay off your Truck. A 750 is reliable if it is in decent condition, you have to figure that out. What gets good people into problems is lack of cash flow and that gets them into further debt. Debt is very very ugly. When you are out of School and have some cash flow from a job, you can get another dirtbike, sled, and if you do well you can get whatever you want. I give the same advice to my own Son.

[Uncle Ernie]

You are going to be completely covered up with school work.  The less you have biting at the back of your head, the better.  Keep your eyes on the prize.  It's hard. but school is what's important right now. 
Get rid of your debt- there's more on the way.

[mattcb350f]

I've been in college now for two years with one more to go, I know your pain!
BobbyR's and Uncle Ernie's advice is solid, sell the dirt bike to pay off the truck then its your's and you'll keep the extra $200 a month that would have gone to insurance and loan payments. However, you may get more for the sled just as the snow starts to fly than you may think. I know because I've been suckered into impulse sled purchaces.
Anyway, when I started college I had no time to play with my sled or dirtbikes and might as well of not had them at all. I kept them because they were junk but would have sold them in an instant if they were worth anything, and yours sound like they are worth something. beleive me, with all that goes on in your first year of college (girl distractions included) you won't miss them.
Hope things work out for you, Matt.

[xtalon]

If you have a new truck, then why do you need a 'back up ride'?  Unless you really love having and riding your dirt bike as opposed to the CB, I would let it go.

--xTalon

[Rsnip988]

a better quetion is how ddid you get a $180 a month in bill just for a truck?

I will always have collision on my vehicles, yu never know when you may hydroplane or theft or something


def let the sled go for now, i wouldnt llet the cb go till later though

[summitlt]

easy when your 19. Insurance sucks. i pay $180 for full coverage, no ones cheaper. Thats with one accident, just my car, no other damage.

[old750]

I dropped out of school. Best decision I made.

[mattcb350f]

Stay in school.... College girls...nuf said.
 Matt.

[seaweb11]

Ya, but te powder will call..........

Every one wants you to sell the sled?   Perhaps they have never played high mark
Loose the dirt bike and put the $$ into the truck, wait and see how the snow flies and then decide if the mountains call 

[Buber]

Just stirring the pot.
I can never figure out WHY a student needs a TRUCK in States? In Europe students will commute on bicycles, and be happy! Are you having such huge book loads to study?
Get rid of the truck and buy something that serves the purpose of transportation, not the purpose of "having truck".... And maintained 750 will be helluva lot more economical (or that dirtbike for example) and a lot more fun....

but what do I know...... 

[Raul CB750K1]

Just stirring the pot.
I can never figure out WHY a student needs a TRUCK in States? In Europe students will commute on bicycles, and be happy! Are you having such huge book loads to study?
Get rid of the truck and buy something that serves the purpose of transportation, not the purpose of "having truck".... And maintained 750 will be helluva lot more economical (or that dirtbike for example) and a lot more fun....

but what do I know...... 

Believe me, distances in the US -where most of the people live in suburbs- are so huge that the bycicle option is not feasible. That being said, I don't know if you really need a truck or a smaller second-hand car will make it. When I went to University my father bought a 20-year-old car for the four siblings, and I was more than happy to go in that piece of crap than having to go on public transportation....




Once I finished the University and got a good job, I bought myself a brand new Audi A4 and now I have 5 bikes.....

[edbikerii]

Sounds to me like you've got altogether too many distractions as it is.  I'd sell everything except the ONE most reliable vehicle, and focus on getting my schoolwork done.

Besides, what kind of spoiled 19 year old kid are you anyway with all those toys?  When I first went to college I had to hunt for change under the couch cushions so I could afford bus-fare.

[summitlt]

Spoiled? hahaha. I bought it all myself, they call it work. You do it and you get paid. My mom has never bought me anything, well, except $400 of my dirtbike for a graduation/birthday present.

Other than that, its all my money.

And on the note of needing a truck, it snows in maine, and I live 27 miles from school.

[antiq]

You didn't mention your major or whether your (dirt) bike is an enduro (read that street legal). The bikes really don't matter in Maine. Your Schooling is fall through spring the bikes won't make good backup transportation. That said I doubt there is a path to take the sled to school either. I presume you bought the truck to transport the bike and sled. Did you at least get a smaller truck? If it were me and I had a place to store the cb I'd keep it. Sell the dirt bike and sled and pay off the truck. Sucks being a teen and paying so much for insurance cut as much cost as you can. If you can stay away from the ladies you can always buy more toys. If you don't you won't need them any way. In the end it's your call and you've been givin good advice here from all. There is merit to selling all of it and buying a good used econobox (not red) That would be minimizing your expenses for sure. The CB should be reliable and economical as well as fun for the summer months and probably the least profitable to sell so I'd keep it. If we weren't so far apart I'd even offer to buy it from you. I always liked the old 750's.

[edbikerii]

Spoiled? hahaha. I bought it all myself, they call it work. You do it and you get paid. My mom has never bought me anything, well, except $400 of my dirtbike for a graduation/birthday present.

Other than that, its all my money.

And on the note of needing a truck, it snows in maine, and I live 27 miles from school.

Good for you, man.  Good for you!  Sounds like you've got a good head on your shoulders then. So why the hell are you asking us dummies what WE would do?  You KNOW what you should do, right?