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      Ok, I’ve been through Dave Ramsey’s FPU and I have a different take on this(Sell

      your car with payments & get a beater) arrangement. Here is my understanding of

      how it works. Say you have an 8,000 dollar car and still owe 4,000 dollars. You

      sell the car for as much over the 4,000 as you can get. YOU Pay OFF the 4,000

      and buy somthing cheap & drivable with what is left over. You may have to drive

      an old jalopy for a while, but you have no car debt. Without the payments you

      should be able to squirrel a little into an emergency fund to cover car repairs

      if needed.


      Original Message



      From: Suzi McMullen

      To: Budget101_@yahoogroups.com

      Sent: Friday, July 25, 2008 8:15 AM

      Subject: Re: Budget101.com : Re: Dave Ramsey Total Money Makeover

      Well now I think that’s really foolish. 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.

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