<prompt> Human: tldr should i use my car accident as a chance to bail out of buying a car that I cant afford, and get on a better trackOkay PF, Im on this subreddit quite often and now Im really hoping you guys can spell some things out for me.Background: Im a college student that comes from little to no money, leaving me with no financial assistance I do not seek on my own. I take out approximately 3,750 in student loans each semester. I am currently in my third semester, studying finance actually.Last year I was in an uninsured accident where I lost my vehicle and racked up 2500 in ER debt. A few months later, after I was offered a nice job making approx 2400a month, I bought a 2014 Scion tC at a cost of 26,100, and 4.4 interest. The employer fell through on his word and i remained in my job where i make about 800-1200 a month. What Recently Happened: I was recently hit in my nice new pretty little fucking car and it was really messed up on the side, but not totaled completely. The wreck is in dispute as both myself and the other driver seem to be blaming one another for the wreck. I am now luckily insured for both my health and my car, so Ive managed not to rack up any debt in this accident.What I Am Considering: Ive been thinking about totaling the car, and paying the gap of my financed vehicle in order to escape the decision I made when I bought a sporty car brand new as a college student. I feel like this is God giving me a chance to take a more responsible and financially sound path.WOULD this be a wise decision? I feel like Im practically paying for the car with my student loans, and once I graduate I wont have financial aid to help pay the bills, and I will then be bearing the payments on my loans as well. I am considering getting rid of the car and making payments on the remaining balance, and purchasing something like an electric bike as my commute to school and work are both relatively short. While doing this I want to save money to buy a car, but at a much more affordable price. I do not want to live out of my means. So PF, does this all work out in the end? I dont know how to run the numbers exactly but Ill lay everything out the best I can.Monthly I Pay:25 Credit Card Debt Total of 500 debt100 Medical 400 Car Note160 Car Insurance620 RentIncome:I bartend and recieve 800-1200 on average per monthEach semester I recieve about 6000 in financial aid excess from covering tuitionfeesNOTE: I have only paid off 2400 of my 32k or so auto loan, so I expect my gap would be a few thousand. BIG EDIT I am not considering wrecking my car, lmao, Im considering deeming it totalled through my insurance company  <response>: Is the insurance company giving you the option of calling it totalled? If not, you are considering insurance fraud and nobody here will help you with that.It sounds like you have learned a pretty good hopefully one-time life lesson: dont spend money you dont have! Even if you had that job, a 32k car is just stupid. I make much more than 2400mo and that seems like a dumb idea even at my salary. 