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I am in trouble.
6 years ago
General
In the interests of efficiency, earlier this year I signed up to get solar panels installed on my house. I had some misgivings about my ability to pay for it all, but my math looked right and the sales pitch was solid. The solar panels got installed, and the internal hookups are due next week.
Then, last night, Mom went over my numbers while visiting and found I'd left out a calculation, one that puts me firmly in the red. I don't know what to do. Do I back out of the deal? The solar panels are installed- they can't be put on a new building and retain their warranty. Do I push ahead, hope the solar generation will cover the price of the loan, and look into getting a part-time job? Do I sell my recently-new car and buy a used one that can be paid off with the sale, thus eliminating my car payment from the calculation? Do I start a GoFundMe and try to pay off the solar loan that way? Am I missing another option? I don't know what to do. I have 14 months to figure this out before the solar company stops making payments on the loan for me.
Then, last night, Mom went over my numbers while visiting and found I'd left out a calculation, one that puts me firmly in the red. I don't know what to do. Do I back out of the deal? The solar panels are installed- they can't be put on a new building and retain their warranty. Do I push ahead, hope the solar generation will cover the price of the loan, and look into getting a part-time job? Do I sell my recently-new car and buy a used one that can be paid off with the sale, thus eliminating my car payment from the calculation? Do I start a GoFundMe and try to pay off the solar loan that way? Am I missing another option? I don't know what to do. I have 14 months to figure this out before the solar company stops making payments on the loan for me.
Is this one of those "we buy the power you generate that you do not use" kind of deals? Get really miser on your electrical usage.
Or you could see about selling your blood plasma, and do it on a regular basis.
Second, sell the car and get a more affordable one.
Third, look for a job.
Try to solve the problem on your own before you go the GoFundMe route. I think people are getting exhausted from appeals for money.
In your case, I'd talk to the company and explain what happened. They might recalculate your payment schedule for a longer payback period if you're up front and honest with them.
But to save money consider holding off on the extras but use coupons and keep an eye out for good deals. Though too buying on clearance is also a good idea like buying from the thrift meats section at the grocery store.