Latoya
Appearances
The Ramsey Show
Money Isn't the Problem—Your Behavior Is
Hi, thanks for taking my call. So I have a vehicle that I bought brand new last year, regretted it just a moment after I left the lot. And now we have alternate cars to drive, but this one has already depreciated so much. How do I get out of it without coming up with this dramatic difference from what has gone down already?
The Ramsey Show
Money Isn't the Problem—Your Behavior Is
So it was $39 on the front sticker in the car lot. I rolled over... seven from the previous car that I traded in. I wasn't aware of that. Um, I, the, it was not very detailed. It was not a thorough transaction.
The Ramsey Show
Money Isn't the Problem—Your Behavior Is
Yeah. 56. And now the vehicle is worth, according to Kelly Blue Book, about $24. What? Is that private party? Or is that trade-in? So that's like to sell it outright.
The Ramsey Show
Money Isn't the Problem—Your Behavior Is
Okay, maybe it was the... I tried Carvana and I tried Kelley Blue Book, and they looked about very similar, mid-20s. What kind of car is this? Just so everyone knows not to do this.
The Ramsey Show
Money Isn't the Problem—Your Behavior Is
My husband and I both have an alternate vehicle.
The Ramsey Show
Money Isn't the Problem—Your Behavior Is
Pretty much. So my grandfather co-signed with me, so I don't want to trash his credit. He cares a lot about it. He's taking care of it. So I'm kind of just hanging on to it for the sake of not ruining his trust in me.
The Ramsey Show
Money Isn't the Problem—Your Behavior Is
OK. Yeah. OK. So that's that. I just didn't know if it was things that maybe I wasn't options that I wasn't aware of. Like, I didn't even realize that I could do that with a person to cover the difference on. And I've just kind of been very scatterbrained with this whole thing. Like I said, moments after I drove away, I was like, can I turn around? No.
The Ramsey Show
Money Isn't the Problem—Your Behavior Is
No, not necessarily. He's just done it for a long time to kind of help me out. I mean, he's That's just what he does. Super helpful. And he didn't really give me much say. He's like, if you're good for the payment, then you're good. And considering we'd done this route before and everything went fine, he had no issues trusting me. Oh, this wasn't the first time.
The Ramsey Show
Money Isn't the Problem—Your Behavior Is
So I have paid off the things that I owe other than my student loans. So I don't have any debt. But the problem was that whenever, like I was 18 to 24, I had some silly things that completely trashed my credit. Like, you know, that first cell phone that you get, those first credit cards.
The Ramsey Show
Money Isn't the Problem—Your Behavior Is
And so by the time I've gotten to a stable point in life where I'm paying everything, they don't trust me with it. I see. So everything that I have paid and I've paid timely has been under someone else. I see. So it's not benefiting me. So I paid off three cars under my grandfather, but that didn't help me a bit.
The Ramsey Show
Money Isn't the Problem—Your Behavior Is
i'm still almost i'm closer than close way closer than i was i'm still in baby step two okay but i'm saying like this is it like we're not borrowing money we're not borrowing for cars absolutely i would love to never borrow again love that okay then i think yeah do you have other you said you have student loans still i do what's left on those working through those now um 50 okay and then does your husband have any debt in his name
The Ramsey Show
Money Isn't the Problem—Your Behavior Is
No. We've paid off his last personal loan, and our credit cards are all closed. Okay. Good.