Need Car Advice

**huntreiter3** · 02-05-2011, 12:17 PM

We are only on baby step one but I think I already know the answer. We have 2 vehicle loans. We have a 2008 Hundai that we pay $430 on a month - still owe 4 years on and my husbands 2004 Ford F350 we pay $350 on a month and owe 2 years on.

We had a friend offer us pay off on the pick up of $7600.00 + an older pick up that needs a little work. My husband likes the truck, but not sure he likes it enough to "downgrade."

Overview: We owe $7,600 Trade in value is $10,500 Private Party Value is $12,000. The amount in payments we have left if we continue to pay until normal payoff date is $8290.00

I know this is being childish that I need this but I really need someone to be blunt and tell me what to do because it's hard to give up the "cool stuff".

**HappyMama** · 02-05-2011, 12:27 PM

From your other post, that I gave advice to I already gave you the answer. It is not my life, my budget, or my decisions but I already told you what I would do. Cook from scratch, get rid of lunches ( not that you asked here ...lol) trim grocery budget, get rid of cars and downgrade now the opportunity presents itself. I would take it , pay off, snowball and be out of debt but that is me. You have to decide for yourself, if the debt hanging over your head is worth it.

Just the food alone could save you 9,000 a yr. Here is the advice I gave you before ( You need to cut this to an even figure, bulk shop, OAMC, coupons, bulk cooking on weekends utilized the crockpot and in this amount needs to be for all of you to take lunches from home. Go to get bulk things for lunch and just do it, the kids can help pack no matter how old. I have lived in california, the Northeast , and Midwest my budget is for 4-6 , and is only 500.00 per month and we eat lots of fresh fruits, veggies, organic and grassfed. Potential savings 660 a month when you include lunch money. This would be a 8,700 savings per yr. : Yikes:

Sorry put this here about the food, and other advice but you need to look at everything as a whole and decide, do or don't up to you. Your life, your debt.

Getting rid of the car and downsizing will eliminate a lot of your problem. Look at this from an outsiders view, then your own life, sit down and make a family meeting and see where you are all at. See what you are willing to give up to be free of the burdens and do it.

In this economy seems like friend is offering you a deal that will help your family, take it or leave it but private values of cars in this market are just what people have and are willing to pay. The value of anything is always subjective to what one is willing to pay for it. If you feel not enough , negotiate, or try to sell on your own, ( good luck in this economy ) ,or keep it. So there are life lines being given , advice being given but once again your life your choice.

**Russ** · 02-05-2011, 12:35 PM

May I suggest some reading? Tips for Failure - Or - How to Guarantee a Life Of Being Broke

**huntreiter3** · 02-05-2011, 12:38 PM

No need to apologize for any advice. I have been working on the groceries. I found some coupon sites online so I printed off coupons during lunch at work on Friday (before I went grocery shopping), bought a $2.00 coupon organizer yesterday and bought some crockpot meals, the rest will leave me enough to take for my lunches for the week. I've also been combing the sites for other good meal ideas so I can plan up a menu and perhaps shop once a month (except for staples that spoil). Going to the store with a list & a plan will save me money in itself.

I also know it's better to downsize & cut out a payment but this is the first real opportunity we have to actually do that and it's like the first hard reality check if that makes sense. I posted because I'm afraid if I don't account to someone, we will talk ourselves out of this the same way we talked ourselves into to debt to begin with. Sometimes it's harder to do the right thing than it is to do the wrong thing.

**huntreiter3** · 02-05-2011, 12:50 PM

I forogt to mention, some people on here mentioned using excel or quicken to set up their budget, I found Mint.com which I'm doing now as well. It is the free version of Quicken. I finished getting everything on there today. It imports all your bank info. and credit card accounts & you add your budget of course, so it updates your buget status as it changes. It is a wonderful tool to see on a daily basis. I'm using it along with my envelope system.