Considering Giving Up my Car Post BK

[danaf]

I am seriously considering giving up my car. I didn't reaffirm it so can do this with no issue.

I pay 380 a month for it - it's a good mini-SUV - a toyota Rav4. Good on gas. Lots of room. 2007.

But my husband has 2 paid for vehicles. Granted they are old and not ideal to haul 4 dogs around in but they run good. (trucks)

380 is a big chunk of change to pay out every month to have a nice car. I don't know....just considering it. I don't live in an area where I can depend on public transportation and therefore really need a vehicle. But it would be nice to not have to pay out 380 a month.

[FLBK7]

The Toyota RAV4 is an excellent vehicle, I agree. How much more do you owe?

[danaf]

I owe about 21k....and out of that payment about 150 goes to interest. I could try to work out a lower payment but then I'd be liable and I'd be screwed if I lost my job.

[FLBK7]

I owe about 21k....and out of that payment about 150 goes to interest. I could try to work out a lower payment but then I'd be liable and I'd be screwed if I lost my job.

Okay, I think you just answered your own question. It's a very nice car, but you owe a lot on it and at a high interest rate.

I would definitely consider driving one of the hubby's trucks, since you said they both run good?

If you REALLY put your mind to it, you can then make the Toyota's $380 monthly payment to your SAVINGS ACCOUNT.

Believe me, it's amazing what you can do to save money when you pretend you are the creditor. It works. 100% if you want it to work. It's worked for me.

Good luck!

[ssdsco]

Great example of why you don't reaffirm autos and houses.