Keep The Car I'm Upside Down On?

Brad is upside down on one of his car debts and asks Dave if he should sell it.

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[NeoAndersonReloaded]

Cars are the biggest scam. After the honeymoon phase its just from point a to b. My car is an accord at 13k and my wife got a benz 39k. All we do is go from one point to another. What a waste.

[DisabilityExams]

Driving fancy while broke = the American dream

[yamamancha]

When I started listening to Dave, I was just starting the process of buying a new car. Did a few test drives, did some research, talked to friends about their experience.
Less than 1 year later, I'm still driving my 10yo car, paid off $10k in credit cards, no debt other than my mortgage, and in the process of buying my first investment property.
I have a $30k credit line from 3 credit cards but I only use $1k/month to pay utilities, insurance, and subscriptions that I'd be paying anyway. That's just more convenient for me.
Thanks to Dave I eliminating the thinking that it's okay to carry a credit balance and approach all my spending from an available cash-based perspective.
But without a doubt the biggest thing I've taken away from listening to Dave is that vehicle debt is the great paralyzer!

[dominicankid]

Learned from mistake like i did and move on, never buy borrow money again not even 5 dollars

[EssentialOilStories]

Before I found Dave's show, I never knew a car could have negative equity rolled into the next purchase of a car.

[symlexbrn]

He rolled one car into another car into another 😳 wow the dealer must have had a party 🥳 on him

[CareerWatch]

The great news for Brad is that he lives in Wichita, KS.

Wichita is a very affordable place to live (median home value around 126k).

It is a great area of the country to build wealth.

[TheeSamuelNelson]

In 2017, I financed a brand new honda crv exl.. my only regret was making they payments much higher than required.

[PNWresistance]

So their net is around 100k. How the fk do people live beyond their means like they do.

[djflash]

You can be upside down in a house if you have a mortgage too.

[CharlesCurran-mp]

Might as well pay off the cars and preserve your credit. Maybe double up on payments. Hope he didn’t get some jacked up interest rate.

[strokerace]

I have to point out, salling an upside down car and buying a “cheap car” can be an absolute disaster financially. Keep your cars, pay them off and stop buying new cars.

[dilloncarpenter]

"My car is very reliable" - got a new engine at 70k. Sell both of them and free your bodies of this weight

[JohnAdams]

I have some question for you about my car loan I paid 3 years on a five year loan and my total only dropped 3k when I bought at14k

[rulop]

what if the car is not reliable anymore?

[pulse]

Where do I go to ask dave Ramsey a question online?

[taahdaah]

I don't understand the thinking that a car that needed a new engine at 70k is reliable.

[CareerPivotNow]

How do I get rid of a car if I can no longer make the payments?

I have negative equity and it’s worth 48k in value.

My car note is $1108 monthly.

My car is a 2022 Lexus RX 350 Fsport with 24, 534 miles.

Please advise.

[SueEmmDee]

I am spending thousands to keep my 11-year-old car on the road because I do not want the debt and I don't know if I'm right or wrong.

[calebbroege]

Sell it. If you have already put a motor in it after only 70k miles, its going to need another eventually if they put the same motor in it. And chances are the next motor wont be under warranty. My friend had the same thing happen to his v6 camaro, first motor blew, warrantied. Kept it around instead of selling it and then had to replace it out of warranty again not long after. When an engine wont last 100k dont expect the same engine to last longer after you replace it...