Should I Sell My Car or Keep It?

Показать описание

Pamela is trying to decided wether or not to sell her car. Dave walks her through the steps on making the right choice.

Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more!

Check out the show at 4pm EST Monday-Friday or anytime on demand. Dave Ramsey and his co-hosts talking about money, careers, relationships, and how they impact your life. Tune in to The Ramsey Show and experience one of the most popular talk radio shows in the country!

Ramsey Network (Subscribe Now!)

• The Ramsey Show (Highlights):

Рекомендации по теме

Комментарии

This was my exact question. I was wondering if I should sell my upside down car but be stuck without a car. Thank you for the advise I feel empowered to beat this debt I have brought on myself

DiamondCrystal

Love to hear people excited about becoming debt free

WendyShoniregun

I love this caller. She is great! So excited.

tmmyjbd

I love you Dave. Needed this. Had no money saved and was wandering to to sell and be able to get another car

astroqb

Learned something new. So if your car is less than half your income and you can have it paid for in 2 yrs or less (gazelle intensity) Dave says it's ok to keep. WOW. Here I was thinking I had to get rid of my car, but I CAN KEEP IT!! Thanks Dave.

talawoods

I'd agree with what Dave said but also keep in mind that you may spend a lot of money on top of that vehicle worth 3k. I had a car for 4k and I spent 5k in unexpected repairs. If the car that she financed works good then just pay it off and drive it for another 10 years.

jassi.s

Okay I have a question with you my car is only worth $1, 000 and I only owe but 1000 some-odd dollars on my car what do you think I should do should I trade it in or just go ahead and pay it off

kimberlytaylor

My “Dave makes me drive this” car put me $4, 000 In the red with repairs. After paying it, a teenager t boned me and totaled it. I got 3k for it and now I have a car note. I was too scared to go the cheap route again. If you are not a car person don’t by a bum car.

merriem

I do about getting a really cheap car, we have always bought cheap but then have lots of repair expenses, & Uber won't let you drive with older car. Lots of pros &

Edbeatty

Car is fairly new. It will last many years if well maintained. Pay off car this year. You need car to go to work and get groceries and other stuff. Worry about student loan and other debts in 2019. Focus on paying off car in 2018 and own it by December 2018.

wiseseek

I would only get rid of the car if the loan were a high interest rate (over ~6%) and she couldn't afford to pay extra on the car note. Based on her income she can "afford" a car valued at $15k so in that regard it wouldn't matter whether she's under water on a $3k car vs a $15k car. Add in the frictional costs and taxes it takes to sell and buy another car, plus (possibly) higher maintenance on a $3k car if she doesn't buy the right one, plust the frictional costs to eventually buy another car when she's debt free and it becomes more apparent how just keeping her current car might make more sense. Either way, this was an interesting call since it wasn't the typical person who bought a "crazy" car where the answer is to obviously sell. And all this said, I think GR's rule of thumb for car value is a little bit lax. I would limit the value of your vehicles to 25% of your annual income, not 50%....so if your income is $50k, you can only really "afford" a $12.5k car.

Julian-zcvm

It is hard to sell a car that way. Most people want a title in hand before money transfers. :/

azlizzie

Dave needs to offer “you need to sell the car” ringtones

rothbj

I need some information. What is the best way to sell a car when the car loan is more than the car is worth?

demetria

Ok, since watching DR. I started in 2016. Before DR I was -$23k. Negative. School note + car note. Now 3 years later in 2018. I am POSTIVE. $4k. No car note or school note. I'm 100% debt free because of DR. I am now going to INVEST in stocks. Going to put $5k in Disney stocks because they just BOUGHT FOX. I'M GOING TO BE A MILLIONARE before 28. WATCH ME WIN. THANK YOU DAVE.

drummergeorge