Originally Posted by PecosBill
I don't want to sound like a snob, but $16k sent you into bankruptcy???
$600/month payments for no car, for three years. It was far easier to just declare. Yup, it was stupid. No one told me about gap insurance for when a $32K car was worth only $12k in 2 years. The 944 had shit resale value.
But I bought and sold two houses in the three years after. Drove shit cars for 10. No credit card debt since. It was a hard lesson learned.