No. of Recommendations: 0
Stockbuyer,

I still think his immediate problem is the $1100/month in car and insurance payments. That $8000 definency is not going to get better 30 or 60 or 90 days from now. Now, I see where he wants to sell cars so, I assume he is working as a car salesman now. Most auto dealerships will give their salepeople a demo car to drive. If that is the situation with him, his transport problems could be solved as long as he is working for the dealer.
If that's not the case, he'll still be way ahead selling the muscle car and selling the caddy and cleaning up the definency and buying a used car. A lower interest rate won't fix his problem. He doesn't need a lower payment, he needs no payment. As we say in my business, there is no disgrace in being wrong but there is disgrace in staying wrong.
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement