Sell My Car To Get Rid Of The Payment?

Sell My Car To Get Rid Of The Payment?

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[smhhardy]

I took my truck to the dealer today and walked out free of $38K debt. I even got a few dollars to put to a used car and paid the difference in cash. That truck was costing me quite a bit monthly- yeah no! I made that sacrifice and got rid of that debt.

[TheDjcarter]

I just don't think people realize that their retirement, kids college, and financial security for most middle class families is sitting in their driveway! Even if you get used car loans (which Ramsey is actually OK with if total comes down) You could go from $45k to $15k worth of car loans and get a $10k car for her and $5k car for him. Imagine what most families could do with $600-800 dollars a month in savings instead of car payments for new cars.

[Banshee]

True story on driving a beater car giving you motivation. We make about $320k in the household and I drive a $900 car while we work on paying the last $70k off of our home before being 100% debt free. It’s a great motivator.

[tramonwhitt]

Sold my suv yesterday loan got paid off and I got a few dollars from the sell feel like a weight has been lifted

[tmusa]

I know people do it all the time but just can’t imagine having all this debt and 1K in savings! I cannot live on the edge like that!!

[KNMK]

I am from India I bought a 1997 Maruti Suzuki Esteem LX. It feels so calming. Older cars do not bite, we bite them. Sacrifice is momentary.

[larrytucker]

Just bought a 2007 Subaru Outback with 162k miles for $6, 850. Very good condition. No payments.

[Rashaadthegr]

Your car payment and house payment are all stopping you from becoming a millionaire.

[SimplySage]

I’m selling my car too for the same reasons. I feel good about because I don’t like car notes

[seanchastain]

Matt and I are in the same boat, I still owe 24k on my vehicle, but thats my only debt. I'm a single guy, but that's what I'm working towards. My goal is to save around 7k-9k to buy a vehicle with cash. Because with my car payment and insurance every month adds up to about $1100, that's not including my rent, and utilities.

[Jim_Curtis]

I think she's not fully onboard with the baby steps. Although harder to find there are ways to get an ok deal on a used car. If she were fully onboard, she'd have more gazelle intensity to get the debts paid off, but instead she wants to be comfortable in the car.

[robertclontz]

It's an uphill battle in this situation. He makes it sound like his wife is telling him, "Honey, we don't have enough money. You need to get a second job, and your cute little program you want to follow is fine just as long as it doesn't interfere with me".

[kennethb]

The problem is $500 cars are now $3000 dollar cars and you will have to throw $300 a month to keep them running.

[cincinnatislider]

Trading driving security for financial security.

The driver has the biggest impact on how safe a car is.

[jyywkww]

We've became a car obsessed car dependant nation, and it's probably the biggest thorn in the middle class. If only we built our neighborhoods, towns, and cities like we used to, in a way cars aren't a need, but just a want.

[mikesmith-wkvy]

Safe is just another word for I like having a new car

[MartianAmbassador]

What's the deal with America's love of cars? How can you love something so much that perpetually keeps you poor?

[trekreview]

It is going to be extremely difficult to get most wives to sell her brand new car.

[Lon]

One thing about Ramsey people is they really don't seem to appreciate the full value of going carless, or for a single car family... but if people deliberately plan for this it's so easy to do - it means choosing a home that is in a walkable neighbourhood, with amenities (particularly groceries) within walking distance, close to schools, good public transit routes and pedestrian/cyclist infrastructure. That's supposed to be the entire benefit of living in urban areas... but too many people in cities poop on the idea of their taxes going towards paying for walkability.

[swnup]

The two most common things women fear, not having a place to live and driving a used car.