[allprostar31]

So, I'm new to Dave Ramsey's teachings. I'm wondering if someone knows what I should do based on his principles.

I'm currently on step 2 (getting out of debt except the house). I have a car I owe about $15 K for, that is worth around $23K. I'm planning on selling it, and using the money to buy a cheaper car. Once I have no car payment, I want to start saving up for the next car so I don't have to take out a loan again. My question is, do I start saving for the next car while on step 3 (3-6 month emergency fund), and if not, what step do I start that savings?

 

[frugalwarrior2]

I did a modified D.R. and am out of debt. Do you need to sell the car?
How did you finance it because if you got it through a dealer you already paid the interest. All those loans are front end loaded.
So the plan is to sell the car and get $8000. after squaring the loan. We just bought a car and the $8000. cars had $125,000 miles on them. What are your payments and what is the milage??

Ok to actually answer the question we put our BEF away and split the debt repay and saving plan together. If the emergency out flanked the BEf though we lost in the savings category. Most here do a modified D.R. plan. because people have diff risk tolerances and diff amts of variables to deal w/.