Credit is certainly gold. Check this out. My car.... I paid exactly $100 to walk out the door. I got a 6 year loan at 4.7%. (6 year loan wasnt something I wanted btw....the rates of the 5, 4, and 3 would have made it more expensive since very few banks were willing to play ball.) Truth be told I have the ability to pay off a huge chunk of it, but the money can be put to better use for the time being.

I think you just need to weigh all options before doing something drastic.

Big: Your house analogy. To be honest with you man, I wouldn't get either house. I would wait for a house that I both LIKED and could AFFORD came into range. Same with a car. I could have easily afforded to lease a BMW or just about any other luxury car for the monthly payment on my bought car. I didn't...why? Aside from the Accord just being more bang for your buck, upkeep costs need to be taken into consideration. I didnt want to pay BMW $100 for a $1 piece of plastic. Id rather pay Honda $50 for a $0.5 piece of plastic.

Car buying is a HUGE responsibility and the decision to buy/lease shouldnt be taken lightly. Im 23, this was the first one I've ever bought, and Im confident in my decision. I may be going to grad school soon, and even though they will pay me $22,000/yr to attend, if I can't afford the payment, I will know well in advance and I will sell the thing off hopefully for a profit.