Dave Ramsey Total Money Makeover

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You may want to consider the miles per gallon you’re getting. My

hubby was contemplating whether to sell his pickup (was getting ready

to need some costly repairs and it was very high miles) and get

something different. It didn’t get very good gas mileage (with his

commute was making it ouch). He was looking at used cars originally

(really didn’t want a car payment) but he did some number crunching

and he’s saving enough money in gas just for his commute to work to

pay for a new gas-efficient car (as prices keep going up his deal gets

better). Never in my wildest dreams did I ever think he would ever

ever buy a brand NEW car. If you do not have a very long commute it

may not come out as well, but if you do be sure to look at gas

efficient vehicles compared to what you have. Of course you can look

at used gas-efficient vehicles. My hubby did but said there wasn’t

much price difference for the deal he was able to get and it made

better sense to go for the new (factor in maintenance etc).

In regards to selling your car and getting a beater…..the advantage

of doing so would be that you sell the car for more than you owe on

it, pay off the car, take the cash you have left over and buy the

beater. Then you have a car w/no payments and then you have money

freed up to pay other debts (unless you end up with something that’s a

gas guzzler and you end up spending all you’re freed up money on gas

that you wouldn’t have otherwise). Do some number crunching first.

trisha

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

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