Need financial debt advice(paying off)

[Common]

The math doesn't add up. The dealership needs to make money to stay in business. The fact that there is enough of a markup that they can still make money doing a trade like this, does not mean that it is a good deal for the customer. It might be a better deal than the original car, but still not a good deal.

No debt in ~1 year is better than no debt in 3-5 years. But I work for a bank, so your bad decisions keep me employed. Please keep it up.

I like how you never once considered what OP states his case is and what he needs. Anyone with a shred of common sense will say zero debt now is always better but in this case, it's not that simple. He has no funds for new or any cars to replace what he has. He has to move away and keep somewhat reliable transportation.
Whatever else you said makes as much sense as me saying I like panut butter jelly sandwiches!:lol:

wtf. dealer makes profit on the car he takes in(a small profit but still...) and makes profit on the car he sells. OP wins by getting out of that large payment/loan into a smaller one that IF he wanted to he can reduce down to 1-2 years after cc's are paid off.

See your nonsense post above about me buying/selling cars (simple subtraction), and we see who really has issues with simple math. That'd be you. :lol:

And no, you do have payments. You also said you didn't have debt. You were caught lying, ya schmuck.

:lol:

straw man is back.
Built motor, kb, and various other thousands of dollars spent while paying interest on a car loan. STFU, you are not the one to speak....

 

[SM0KE]

I like how you never once considered what OP states his case is and what he needs. Anyone with a shred of common sense will say zero debt now is always better but in this case, it's not that simple. He has no funds for new or any cars to replace what he has. He has to move away and keep somewhat reliable transportation.
Whatever else you said makes as much sense as me saying I like panut butter jelly sandwiches!:lol:

wtf. dealer makes profit on the car he takes in(a small profit but still...) and makes profit on the car he sells. OP wins by getting out of that large payment/loan into a smaller one that IF he wanted to he can reduce down to 1-2 years after cc's are paid off.


:lol:

straw man is back.
Built motor, kb, and various other thousands of dollars spent while paying interest on a car loan. STFU, you are not the one to speak....

I never left, junior. :lol: You're on a goofy loop w/ words, bud. :lol: You're also a LIAR about being out of debt, when you're actually not even close.

Stop posting, bud.

 

[Iman01]

I like how you never once considered what OP states his case is and what he needs. Anyone with a shred of common sense will say zero debt now is always better but in this case, it's not that simple. He has no funds for new or any cars to replace what he has. He has to move away and keep somewhat reliable transportation.
Whatever else you said makes as much sense as me saying I like panut butter jelly sandwiches!:lol:

wtf. dealer makes profit on the car he takes in(a small profit but still...) and makes profit on the car he sells. OP wins by getting out of that large payment/loan into a smaller one that IF he wanted to he can reduce down to 1-2 years after cc's are paid off.

You are right, being responsible is hard. Especially when ignorant people are telling you how to stay in debt.

The profit the dealer makes comes out of your pocket. Encouraging that for someone in a tight spot is about as smart as sharing your sandwhich preference.

So to sum up...
Bad Idea - keeping the cars and all the debt

Better Idea - getting somewhat cheaper cars with a new loan

Best Idea - get rid of the cars, get a $200-$4k car in Europe (there are lots of cheap reliable options that are great on fuel). Pay the cards off like you are a gazel running from a lion. You're moving... time for a garage sale?

It won't be easy, but anything worth doing isn't. Pay off your stuff and never have this problem again.

 

[SM0KE]

You are right, being responsible is hard. Especially when ignorant people are telling you how to stay in debt.

The profit the dealer makes comes out of your pocket. Encouraging that for someone in a tight spot is about as smart as sharing your sandwhich preference.

So to sum up...
Bad Idea - keeping the cars and all the debt

Better Idea - getting somewhat cheaper cars with a new loan

Best Idea - get rid of the cars, get a $200-$4k car in Europe (there are lots of cheap reliable options that are great on fuel). Pay the cards off like you are a gazel running from a lion. You're moving... time for a garage sale?

It won't be easy, but anything worth doing isn't. Pay off your stuff and never have this problem again.

Hrmm...sounds familiar doesn't it, "Common?"

Just so you know, man...You're going to go in circles w/ a complete imbecile here. Read above for reference.

 

[Common]

I never left, junior. :lol: You're on a goofy loop w/ words, bud. :lol: You're also a LIAR about being out of debt, when you're actually not even close.

Stop posting, bud.

Hrmm...sounds familiar doesn't it, "Common?"

Just so you know, man...You're going to go in circles w/ a complete imbecile here. Read above for reference.

:lol:

Pathetic little formerly bankrupt asshat that modified financed mustang, loaned out money at 13% for a pick-me-up truck and is 250k+ in debt. Yep, you are the one to talk.

 

[Common]

Better Idea - getting somewhat cheaper cars with a new loan

This is my idea. As far as your third idea goes, OP doesnt have the means for that at the moment, hence me giving him not the PERFECT solution but in his case the only sensible one. Is reading comp hard for you at times or did you not understand what I initally was advising?

 

[SM0KE]

:lol:

Pathetic little formerly bankrupt asshat that modified financed mustang, loaned out money at 13% for a pick-me-up truck and is 250k+ in debt. Yep, you are the one to talk.

Now I'm formerly bankrupt!? :lol: What in the sam hell are you talking about!? You're really reaching for shyt now, aren't ya! We all know you're a liar, but at least try to hide it a little better than that! And here you go in your goofy loop again about the truck! :lol::lol::lol:

$250K plus in debt! Really? I own a home, bud. You however, are still riddled w/ payments (which we already know you like to LIE about), and probably living in your broke ass parents' basement at the age of 25!

 

[Iman01]

This is my idea. As far as your third idea goes, OP doesnt have the means for that at the moment, hence me giving him not the PERFECT solution but in his case the only sensible one. Is reading comp hard for you at times or did you not understand what I initally was advising?

Good job, you are a little smarter than a rock... :beer:

I am sure in the future we will look to you for kinda okay advice, but certainly not the "PERFECT," best, or right thing to do. :kaboom:

 

[Common]

Now I'm formerly bankrupt!? :lol: What in the sam hell are you talking about!? You're really reaching for shyt now, aren't ya! We all know you're a liar, but at least try to hide it a little better than that! And here you go in your goofy loop again about the truck! :lol::lol::lol:

$250K plus in debt! Really? I own a home, bud. You however, are still riddled w/ payments (which we already know you like to LIE about), and probably living in your broke ass parents' basement at the age of 25!

hahahaha, it's sad to watch you post actually. You don't own the home, it owns you and the bank owns it. Get it right, dork.
Did you post proof of any of the absurd claims you made?...zero credit, teenagers financing cars without history, compound interest fantasy formula you came about with 5 mil by retirement?.......

Good job, you are a little smarter than a rock... :beer:

I am sure in the future we will look to you for kinda okay advice, but certainly not the "PERFECT," best, or right thing to do. :kaboom:

So reading comprehension isn't easy?....i figured.

 

[thomas91169]

lol @ the n00bs going toe to toe with the Common.

Itll make ya famous.

 

[carnut101]

I don't understand why this is so complicated. OP, if you have a grand or more a month extra after the car payments, do as I said in my original post and knock out the credit card debt first. Based on how calm you are, and the fact that you're even considering keeping the cars, I'm assuming that you have enough left over after the car payments to take care of the credit cards without any significant changes to your lifestyle.

If you're barely making minimum payments on the cards after the car payments, then by all means, get out of the car loans asap.

If you're somewhere in between, consider how much you have left over after making the car payments and how soon you could reach positive equity if you paid for the cars first. Use this to decide if you should start with the cars and sell them once you reach positive equity.

 

[Bens4vcobra]

I'm not going to jump in the debate here, but given the fact that Dave Ramsey et. al. was mentioned a few times, I thought I'd comment.

My personal experience:

A few years ago, I graduated college, bought a house and got married all around the same time. I also did one of the dumbest things I've ever done. I financed a new car with NO down payment (2007 GT). I got great terms, so I thought what I did wasn't all that bad. There was also the matter of my student loans coming due. For about 6 months, I lived in denial about the amount of debt I had. One day I stumbled across Dave's radio show by accident. Long story short, the denial gave way to regret and frustration. I sold the GT for $2k less than KBB said it was worth just to expedite the process. I got a second job and my wife and I took no mercy on Sallie Mae. Here I sit typing this, only roughly $2,000 from being debt free. The sacrifices I've made have been deep. No restaurants, no movies, no Alabama football season tickets, no home internet, no smartphone with data plan, basic cable and tuna for lunch every day. I chose to live this lifestyle because it meant reaching my goal faster (ok I'll admit, I have a bit of an obsessive personality, I am a car guy after all).

I say without hesitation that Dave Ramsey changed my life. And not just from a personal finance perspective. Doing this made my marriage better. Following Dave's advice forces you to become goal oriented. I am now about to start a masters degree program (MAcc in Accountancy) in the spring (paying cash, of course). My wife is also finishing her degree next year.

Was I stupid? Absolutely. But I don't think my story is unlike a lot of others out there. I certainly fell into what you would call "normal." And doing what I've done over the last 2 1/2 years would definitely NOT be considered by most people to be normal. Most of Dave Ramsey's advice certainly falls into the category of common sense (get out of, and stay out debt, invest/save and live within your means). Unfortunately, it's becoming uncommon in our culture of hyper consumption.

I'm not going to push Dave Ramsey on the OP, or anyone else. In fact, there hasn't been ONE person I've recommended him too in my own circle. It's just not my style.

Just wanted to throw my experience out there. I don't think the OP was looking for any life changing solutions. The suggestion was appropriately made by s.x.i. and I think that's really all there is to it. It's ultimately up to the individual.

 

[SM0KE]

hahahaha, it's sad to watch you post actually. You don't own the home, it owns you and the bank owns it. Get it right, dork.
Did you post proof of any of the absurd claims you made?...zero credit, teenagers financing cars without history, compound interest fantasy formula you came about with 5 mil by retirement?.......


So reading comprehension isn't easy?....i figured.

Considering I have a considerable amount of equity in the home, it really doesn't "own me," ya c0ck suck. I don't really need to prove anything. Fact is, I'm not the one in here lying about shyt - You are. You've already been caught, remember...dumbass?

lol @ the n00bs going toe to toe with the Common.

Itll make ya famous.

Considering I've been around here longer than either one of you, I don't know where you're going w/ the "n00b" bull shyt.

And the fact is, there's not much to go "toe to toe" with. Common's mouth is about as loose as a two dollar whore on nickel night, and he's dumber than the dip shyt bangin' her. Why he has the f@git fan club, is beyond me...

 

[Common]

Fact is, I'm not the one in here lying about shyt - You are. You've already been caught, remember...dumbass?



...

-lied about Zero credit claim
- Lied about Financed truck at 13% without history as a teenager(it makes you look like a moron "even" if you did get that loan).....lose-lose there.
- lied about making mistakes while "young and dumb" when actually your sorry ass was doing same garbage up until recently. Now you're trying to "spread" the "wisdom" you acquired over your pathetic financial past.
-moded financed cars and dumped large amounts in them
- advised someone to laon a personal loan to pay down negative equity on a car loan( PURE GENIUS):lol: Nevermind the fact that the person here cant even buy other cars since he is low on funds so he would need to loan MORE money on personal loans even for clunkers you advised.

- Claims 5 mil$+ compund investment plan by 60-65 without ANY proof

Have you said ANYTHING sound or logical here yet?

You couldn't get any dumber, you could try but I doubt you would be successful.

 

[SM0KE]

-lied about Zero credit claim
- Lied about Financed truck at 13% without history as a teenager(it makes you look like a moron "even" if you did get that loan).....lose-lose there.
- lied about making mistakes while "young and dumb" when actually your sorry ass was doing same garbage up until recently. Now you're trying to "spread" the "wisdom" you acquired over your pathetic financial past.
-moded financed cars and dumped large amounts in them
- advised someone to laon a personal loan to pay down negative equity on a car loan( PURE GENIUS):lol: Nevermind the fact that the person here cant even buy other cars since he is low on funds so he would need to loan MORE money on personal loans even for clunkers you advised.

- Claims 5 mil$+ compund investment plan by 60-65 without ANY proof

Have you said ANYTHING sound or logical here yet?

You couldn't get any dumber, you could try but I doubt you would be successful.

You're a lying dipshyt, plain and simple. I may have made some mistakes, which I've talked about pretty openly, but I'm completely debt free and I haven't lied about a single thing. Again, you're in debt and you're a liar.

And ya, plug the same figures into a calculator (when your dumb ass figures out how to compute compound interest) and you'll get the same numbers, retard.

And holy shyt....Learn to spell before your stupid ass calls me "dumb." WTF is "moded" "laon" "compund" You stupid ass...

 

[Common]

You're a lying dipshyt, plain and simple. I may have made some mistakes, which I've talked about pretty openly, but I'm completely debt free and I haven't lied about a single thing. Again, you're in debt and you're a liar.

And ya, plug the same figures into a calculator (when your dumb ass figures out how to compute compound interest) and you'll get the same numbers, retard.

And holy shyt....Learn to spell before your stupid ass calls me "dumb." WTF is "moded" "laon" "compund" You stupid ass...

:lol:
You have been a financial twat since the age of 18 to about 26 and now you're dispensing financial advice as if it's your calling. History is usually a good indicator of the future they say....I wonder if you know that and are pointlessly trying to avoid it.

LOL at your spelling straw or my ONE payment I didnt mention right away that happens to be smaller than some people's cable bills.