Viewing 0 reply threads
  • Author
    Posts
    • #260446

      Well now I think that’s reallyfoolish. You end up owing 3,000 dollars for a car you don’t have anymore. And now you own a beater that’s going to break down 2 or 3 times per year. You are going to spend at least a couple grand per year on car repairs while you are still paying on the other car. Even if the repairs are small, you are putting yourself, your job and your family at great risk. No one knows where the car will break down or when. You could be on a busy highway in rush hour traffic when the beater breaks down. Been there done that. Ummm NO!

      Suzi

      Quote:

      Original Message


      From: Jessica
      To: Budget101_@yahoogroups.com
      Sent: Thursday, July 24, 2008 3:02 PM
      Subject: Re: Budget101.com : Re: Dave Ramsey Total Money Makeover

      Say you owe $15k on your car and you sell it for $12k, you then owe $3k + the money you spent buying a beater. So yes, you may still owe some–but your overall debt has decreased. Does that help??

      DRAIN THE SWAMP, #MAGA VOTE TRUMP 2020!


      Original Message


      From: Herlean
      Date: 7/24/2008 1:47:33 PM
      To: Budget101_@yahoogroups.com
      Subject: Re: Budget101.com : Re: Dave Ramsey Total Money Makeover

      I have a question about selling the car for a beater.

      DRAIN THE SWAMP, #MAGA VOTE TRUMP 2020!

      If you sell a car that has a loan on it, you are still responsible for paying that loan off. So, if you sell the car and get a beater, even paying cash for the beater, you still have the car payment for the car you no longer have. Or am I missing something? It is not like you get the money that you are currently paying for the car freed up to pay on your other debts.

      Can someone clarify this for me if I am mistaken?

      Thanks!
      Herlean

      DRAIN THE SWAMP, #MAGA VOTE TRUMP 2020!

      — On Thu, 7/24/08, Ria wrote:
      Have you considered selling your car and getting a beater car until you’ve been able to pay down your debt?

Viewing 0 reply threads
  • You must be logged in to reply to this topic.