Sell My Car To Get Rid Of The Payment?

Sell My Car To Get Rid Of The Payment?
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[@smhhardy6580]

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.

[@austintomkewitz7206]

God bless you your on your way

[@genxx2724]

You can buy a nice truck again when you can afford it. Funny thing is, when you can afford things, they don’t hold the same attraction. Life foils us.

[@1LElife]

you had equity in it so that was an ideal situation, most people aren’t in that situation

[@KishJohnson]

Can you share how you sis this.

[@omertashawty]

How bro ???

[@Banshee365]

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.

[@TheDjcarter1966]

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.

[@alinatamashevich3354]

But, but, but zero interest! LoL.

[@musicpro7278]

@@alinatamashevich3354 I would like to make you my wife imagine the kind of wealth we can build together

[@alinatamashevich3354]

@@musicpro7278 Thanks for the offer, however I have a BF, it has taken me years to train him.

[@RealGalaxyGamers]

When does DR ever say to take out a car loan?

[@reyruiz9174]

@@RealGalaxyGamers for real lol. I never heard Dave say this.

[@tramonwhitt4012]

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

[@bbc20231]

Well done bro

[@0rignallity601]

Idk you could do that 😳

[@wonderingthoughts926]

Sometimes just a couple hundred bucks after something like that is enough to just sweeten the deal. The debt is gone and you got a little cash in the back pocket. Well done!

[@MD-xp2nd]

What dealership did you take the car to? I have a car i owe 19k on from carmax, where can i go to sell it?

[@davidgonzalez3252]

@@MD-xp2nddid you get it done?

[@robertclontz3728]

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".

[@rnt45t1]

Sounds just like a woman.

[@jimroscovius]

@@rnt45t1 No, my wife doesn't do that. Princesses do that.

[@clarifyingquestions]

@@jimroscovius Exactly - not a gender thing. There are Princes and Princesses and there are people like you and your wife. All the best in 2022.

[@jimroscovius]

@@clarifyingquestions Same to you, Colleen. Have a wonderful New Year!!

[@tmusa2002]

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!!

[@mandypdx]

That sounds terrible

[@SimplySage854]

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

[@Rashaadthegr8]

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

[@kennethb6211]

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

[@BrianLera]

Yep :/ that’s the only thing people don’t think about for some reason.

[@joshwilcox8941]

That's a bold claim. Do you have any data on this?

[@patty109109]

Agree they are not worth dealing with these beaters IMO.

[@blackworldtraveler3711]

That’s not true at all.

[@Argedis]

If you need to "throw $300 a month" then that means you had no due diligence when purchasing the car. At the very least pay a mechanic to check a car before purchase. A scan tool can also give you so much info on vehicle health (besides trouble codes) if you have the know-how

[@larrytucker222]

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

[@KNMK259]

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.

[@mikesmith-wk7vy]

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

[@austintomkewitz7206]

Safe is also another word for buying Toyota or Honda with 200k plus on it hahahaha

[@trekreview]

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

[@user-jy7yw5kw3w]

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.

[@blackworldtraveler3711]

None of that is needed. I don’t work. Filled my tank eleven months ago and it’s currently half a tank. Do all of my banking and shopping online. Can have groceries delivered now if I wish. Groceries once a month. Can walk or bike to cafes and restaurants or have them delivered. Travel a lot. Car in garage 95% of the time. When I worked it was driving 45 miles a day and I worked 3-4 days a week with a 2012 car since 2014. I’m not car obsessed. Was just a tool from point A to B. Neighborhood, towns, cities are fine. Just look in the mirror. All about choices.

[@Ibrahim-vx5kq]

@@blackworldtraveler3711 you should look at Amsterdam and some other European cities America has terrible public transport,it's extremely car dependant

[@markg999]

No problem with cars...but most people are buying vehicles they really cant afford.

[@stephenshelton4267]

The public transportation zealots are some of the cringiest zealots. I haveno interest in having to schedule my life to fit the government's bus schedule. I'm an adult, I don't _need_ this european micromanagent in my life thank you very much.

[@blackworldtraveler3711]

@@Ibrahim-vx5kq You totally missed the point. Been to Amsterdam and over 60 other countries. Spending time in these countries is the reason I’ve never spent over $15k for a car in the U.S. so far. Always cash. And I’ve always been dependent on car for transportation but much less now with services like Amazon, food deliveries,banking from phone,etc.. Most spent more for one car than I’ve spent for 2-3 cars in over twenty years and that’s the problem with people and their love for cars in the U.S.. Really had no reason to buy a $30k-$80k car when I could buy a $15k car that does the same thing and save/invest the rest.

[@Missbayka]

I bought a “beater” For $2900 April of 2023 and my husband one for 3 something and am going to sell my 2015 Ram TODAY to be rid of the 672/mo payment and expensive insurance. I am upside down but am doing what Dave called “paying the stupid tax” and NEVER doing that again. 😊 Also I’d like to add that ALL my friends and co worker have said “Well, isn’t that your baby/dream vehicle?” To which I say “YES, but I have the whole rest of my life to save and buy another one if I want, it’s just a truck”😉

[@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.

[@clarifyingquestions]

100 %

[@seanchastain9801]

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.

[@Briway]

Good gracious, how on earth is your car payment that high? Do you own a Ferrari?

[@seanchastain9801]

@@Briway Your guess is as good as mine lol. That's why I'm trying to get rid of it. It's tough enough just paying the car payment and insurance. Not to mention my other bills. And I'm single lol.

[@JB-ri6zp]

@@Briway If you put nothing down on a 24k car payment it can easily be $500, then $200 a month for insurance, $200 for gas, rest for maintenance, car wash?

[@cincinnatislider]

Trading driving security for financial security. The driver has the biggest impact on how safe a car is.

[@theunkownmr.562]

They're not talking about safety as a form of security, they're talking about reliability as a form of security.

[@blackworldtraveler3711]

This was the main excuse for buying brand new cars,minivan,and SUVs in the 90s.

[@clarifyingquestions]

@@blackworldtraveler3711 It is the marketing strategy!

[@jimroscovius]

We rode in the back of station wagons without seat belts when we were kids and, *GASP*, we're still alive!!

[@blackworldtraveler3711]

@@clarifyingquestions It worked well. Worked too well.

[@chappellpuppets]

Yeh you can get a pre owned car with a warranty too

[@dokken08]

Sold my Bronco today. I had to come a little out of pocket but it was costing me $700 a month with insurance. Now to sell my Goldwing.

[@MartianAmbassador69]

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

[@Answers721]

People love being in debt.

[@scaryguppy1071]

We also live farther away from everything we need in this country and we do not always have the choice of moving closer

[@lot2196]

We need to get around.

[@blackworldtraveler3711]

@@scaryguppy1071 That is no excuse. I’m in Oklahoma where you have to drive to get anywhere and I’m doing fine with a 2012 car I paid $15k cash for in 2014 and worth less than $6k currently. He said love for cars not need for cars. People spend and buy more car than they need. And from what I’ve noticed the past five years is many including myself have options to use services like Amazon and food deliveries now and drive less. Really the main reason for driving nowadays is to and from work.

[@blackworldtraveler3711]

@@lot2196 You don’t need expensive cars to fall in love with to get around.

[@swnup]

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

[@Lon1001]

The problem is that unless you work at a manufacturer dealership, ALL cars are used cars lol.

[@alinatamashevich3354]

@@Lon1001 My new car was a used car in 24 hours.

[@noellebatista3896]

Especially when she doesn’t work 👀

[@ccpanel]

no 3,000 cars right now

[@jorgitoz28]

I like the explanation for buying an old Toyota or Honda. Good job guys form Puerto Rico.

[@clarifyingquestions]

How do you feel safe when you make no money and are in debt? They are drowning, so how safe is that.

[@harknowhere]

Lol my friend has like 92k in car debt and he only makes like 50k. He’s paying like $2000 between payment and insurance

[@coppercoloredlifestyle9498]

🤣🤣🤣 that’s crazy!!!! SMH.

[@markg999]

That's a ridiculous amount of car debt...but many people try to appear better off than they are.

[@mannyjeanpierre4062]

my god!!! He needs to start taking the bus/train everywhere.

[@a.h.2667]

Unless he's able to live in the car, that is pretty ridiculous

[@richthepup]

Hope he knows you think he’s an idiot for that

[@GeorgeAusters]

Why do people even get into debt for a car? I always just save up and pay cash

[@CDTucker336]

Most people are paycheck to paycheck and aren't disciplined to save for a car. When I was young our neighbor got a new 95 f150. My dad told me the difference was that we didn't have 500 a month payment. I don't know why that stuck with me all these years.

[@blackworldtraveler3711]

They don’t have the ability to plan ahead and want things now. So the job becomes their life and work until they die.

[@Argedis]

Like Dave has said before, lots of people only ask "how much a month?" instead of just "how much" Debt is normalized and that's why he says be weird instead

[@brandonholmes1144]

And if 90% of the population wasn't doing that, there would be no civilization

[@DemetriPanici]

I definitely think that would be a good idea!

[@Lon1001]

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.

[@blackworldtraveler3711]

Yup. All about location and I chose my place carefully. People complain about property tax but where I live that’s the reason we have NG powered city buses with bike racks,bike trails everywhere even to other towns that used to be train tracks,walking to parks, restaurants,etc..

[@alinatamashevich3354]

Walk ability equals Mug ability!

[@Canelo2103]

It’s funny that in this day and age we don’t see our lives without a vehicle or even talking about public transportation. if we really wanted to we would make the real sacrifices needed.. I rode a bike for a while. It made me appreciate the clunkers other people had wishing I had one at that moment. Funny thing is my finances and my body got healthier lol.

[@danielbell7855]

Dude that's just not realistic for most people give me a break I deliver pizza seven days a week at two different restaurants full-time 70 hours a week try doing that on a bicycle

[@beastbee0118]

I drive 20mi to work. I really wouldn’t want to spend all night peddling a bike to get home when I get off at 1:00am…

[@Bertuzz84]

@@danielbell7855Pizza delivery is a job for teenagers on e-bikes. Not adults in cars. that would seriously increase the price per delivery. Don't tel me that you can deliver pizza's for me for 1.50 per trip in your car lol... that math just doesn't add up.

[@rayjgold]

Did you buy a new bike or a used one? Why didn't you get a used bike and upgrade to a newer used bike later?

[@noulafrantz8589]

❤❤❤ smart

[@benw1726]

I'm confused do they make 84k each or did they make 84k combined? If they make 84k each why the heck is this a big deal.

[@cosmomontanaro5759]

It's Modesto. No snow storms, barely any rain, great weather year-round. You can get around with a _scooter._

[@thetruth5635]

The Ramsey personal loves talking about car debt

[@Argedis]

Well cars are the 2nd biggest purchase people make and they are depreciating liabilities. So many people also buy more car than they can afford and remain broke with payments.

[@Ziotic]

One weird thing I noticed as I was driving through a really expensive neighborhood. Every single house didn’t have a brand new car in the drive way. Old cars/ trucks but no new cars

[@genxx2724]

Do you mean no house had a new car, or not every house had a new car? The homeowners were either gone, or their cars were in the garages and the cars outside belonged to domestic help and repairmen. If it was a weekday during normal times, husband and wife would both be at work while the kids are raised by nannies.

[@Ziotic]

@@genxx2724 I live right across the street from that neighborhood I see those cars all the time and my side or the neighborhood is like semi mid class and most people have expensive cars while the more expensive side doesn’t

[@genxx2724]

@@Ziotic That tells us something.

[@westsidesagittarius3103]

@@ZioticThats gotta be rare I haven't seen many rich neighborhoods but I did see plenty of high middle class neighborhoods while doing Amazon delivery and literally every last one of them had super cars outside

[@elmerramirez1215]

Right now I’m in the edge of doing that, but is so hard for me right now

[@ThePierlux]

Have you done it?

[@elmerramirez1215]

@@ThePierlux no I haven’t I got a pay raise lol

[@ThePierlux]

@@elmerramirez1215 good for you!

[@quelquun2018]

Cars are liabilities, most depreciate over time. what don’t she understand. The guy sounds tired…poor thing 😩

[@therationalistparty9742]

Dave would be yelling right now and have these two on rice and beans in a $2000 dollar car.

[@mattcrouch9348]

Top secret tip: there aren't any $2000 cars that run. Also NB: Dave actually still talks about "$1000 cars" as if that is a thing.

[@mattcrouch9348]

To clarify: I am ALL about super cheap cars. You can get a 20 year old Hyundai for $2400 or so, and it will almost certainly still have a couple years of life left in it.

[@djpuplex]

The wife is reluctant to sell. You don't say. Shocked. She's not gonna go without. Stay single you can drive what you want. Love how they tapped danced around her not selling, always keep the princesses happy. Look at Rachel's arms crossed trying to get around getting the wife to do something smart financially. Most guys throw on the towel and start spending why not if he doesn't the wife will. Stay single, just avoid these situations.

[@fhuber7507]

Sell the car... and a kidney.

[@ahbhmeh2725]

To quit the fuel consume of course,..

[@stevewardlaw]

1:15 if Dave were here, I think his immediate reaction at the wife being reluctant to sell her car too would be: You're both BROKE. Is she on board or not? You have to address that before you can get out of debt, or one partner will keep spending while the other is trying to snowball.

[@bbc20231]

Facts I’m unsure she is committed.

[@yang139]

I’m in Modesto too :)

[@dummgelauft]

A headon impact in a year 2005 camry is going to me just as good (or bad) in a year 2023 camry..

[@cameronlooper5128]

I’m thinking sell her car and keep his! They are both newer and hers has the equity and the bigger loan.

[@yoavmor9002]

Caller: "Sell the car?" Dave: "Sell the car." Caller: "Sell the car!?" Dave: "Sell the car."

[@edgehodl4832]

how many americans have all their networth in a 1000 emergency fund? seriously, america is broooooooooke

[@alinatamashevich3354]

Less than you think! Most cannot come up with 400 in cash!

[@jrwntctv8091]

I imagine most have a negative net worth.

[@alinatamashevich3354]

@@jrwntctv8091 And you would be correct.

[@rothbj1]

5:17 This the best advice

[@Love2Banime]

I was able to pay off mine in just about a year after I purchased mine. Totally worth

[@merriem24]

I have a 19k Subaru and I really wish I hadn’t bought it now 😢

[@buclaw1216]

Same here, I bought a $24k van 4 weeks ago n wished I got $9k van instead

[@sidharthchand8072]

Wouldn’t surprise me if the 32k is a Tesla

[@thesavannian4368]

There’s a dealership in my town that says everyone drives a used car

[@wholton101]

This is a real question, I do not have any debt and only a few grand in savings can you help me?

[@mikesmith-wk7vy]

Did he say they each make 80+ or total 80

[@hollyb6885]

A total of 84k

[@ana10g]

2:10 - he made it sound like both make $84K, so $168K a year.

[@donnafontaine2799]

Yes 84k total

[@untouchable360x]

Sacrifice is never easy or it is no true sacrifice.

[@404TRUCKERTV]

find a local auction, tow auction, storage auction, or a old lady selling a reliable used car. Toyotas or Hondas are the way to go. How determined are they willing to get out of debt. I read the comments, all I see are excuses to keep borrowing money. This is a complete mind shift and life style change. Or else....keep doing what you're doing, stressed out with payments, working every week, sending your money to corporate America for painted sheet metal on wheels, a depreciating asset. Should be ashamed, he doesn't have a few thousand to buy car.

[@chuckhockey9632]

Rent it out to other people

[@NeoAndersonReloaded]

Cars and clothes are the middleclass trying to look rich downfall.

[@otpicus]

Sell the wife ('s car) too

[@Skswords825]

Lmao I have positive equity but dealerships love to abuse me so when I tried to sell my car they told me I'm not allowed to do that 🙃🙃🙃

[@ciscostew9342]

Wtf so you are not allowed?

[@jameshunt4611]

Watch Scotty Kilmer’s videos and go with a Toyota for your used car. Done.

[@jamesklinkhammer7539]

They don't make much ...but want sweet vehicles

[@marcmini8137]

i love debt

[@Rrl32591]

She is gorgeous 😍

[@whiskers78753]

....exactly where can I find one of these $3000 Hondas or Toyotas?

[@roberttrojan9037]

You can't they're 10k with 150k miles lol

[@dafordkidfilms2264]

They’re worth $10k now even for a 2008 Corolla with 120k miles. You can’t find cheap anymore.

[@ridgerunner7980]

i know a guy who can take care of this

[@johnathansantoni4533]

geez went from car sales to relationship therapy real quick. awkward.

[@danielbell7855]

Did you ever think that Dave likes to push people to have a mortgage because he sponsored by Churchill Mortgage the company he always tells us does manual underwriting so it almost seems like there's a financial incentive for him to tell us that that is acceptable debt to have funny

[@alinatamashevich3354]

So tired of that worn out argument. Does your boss allow you to sell your competitors products?

[@janetjorgensen2124]

Daniel Bell most mortgage or banks will do a manual underwrite for the mortgage. Doesn't run through automated underwriting which is the norm today.

[@5thbassdrum]

Get rid of the wife and you're fine next topic.

[@OpgorillaS]

You both look short in height lol

[@johnmitchell2741]

You should sell the car and the wife and good luck finding a used car

[@noellebatista3896]

Why didn’t anyone ask if she even works and what she does?? What do you need a 30k car for?

[@johnmirbach2338]

😎👌✌🖖👍🤓