Is dinged credit worth it

[Andrew Johnson]

Hello BP! 

I want to thank you for the help.

I'm going to get to the point so i don't lose help. Basically i have a 500/mo auto loan and i want to know if it is worth it to walk away. I am in the learning phase of investing, i'm reading books and blogs trying to figure out what i can before i start.

To start out I know I need to have my finances in order so I cut back and save but that's not enough. I spend a ton of money on a vehicle I don't need so if i hurt my credit now is it worth it to save the money and start investing and come back from that ding in the future?

Also I would like to add, if this kind of question is not appropriate here let me know. I would like to follow the rules and stay with such a helpful community.

Thank You

[Natalie Kolodij]

@Andrew Johnson 

Okay...well $5,000 underwater isn't that bad. 

Do you anticipate a tax refund this year? 

Can you take on a 2nd job? 

Can you sell your plasma ? (You think I'm joking, but how bad do you want to invest?)

Can you pickup a seasonal job for the holidays? 

Can you Sell things you don't REALLY need- it all adds up.

Can you get rid of cable tv, phone plan extras, x box live subscription, ect? 

Can you sell a child? (this time I'm kidding) 

Can you do odd jobs on weekends for people? 

Can you Uber? 

You get the idea.....You're right that as you save it will depreciate more. May I ask what kind of car it is?  Can you list it in a market that's more appealing for the car? At $500 a month I'm guessing it's german or a pickup truck. Am I right?