What a great article, thanks! As a prospective CFI, I also took a hard look at what I absolutely need. With a car payment of ($6200 in the bank) $150 a month payment, plus insurance, a student loan of $4000, and a cell phone bill, I felt that I needed to do something, especially since I am closer to my CPL and will be looking at a CFI gig. I just sold my much beloved Camry with a $1600 profit. I immediately went to the bank and deposited the $1600 toward the $4000 student loan. Now all I have is a $2400 debt. I hope to save as much as possible and pay it off asap. Good news, I feel very much relieved, bad news, I need a car. I am looking at a good old Honda Civic, Corolla or somethng to get by for now...