(Closed) Does this make sense?

posted 5 years ago in The Lounge
  • poll: What should he do?
    Sell the car!!! : (36 votes)
    95 %
    Don't sell the car! : (2 votes)
    5 %
  • Post # 16
    8826 posts
    Buzzing Beekeeper
    • Wedding: Dorset, UK

    No brainer. Sell the car, clear the debt. Save some money, buy another 2nd car (second hand) if needed down the line.

    Post # 18
    1228 posts
    Bumble bee
    • Wedding: March 2014

    PolkaswithPitbulls:  +1.  There’s no such thing as money for nothing.  

    If a second car is not a necessity, I think this plan makes sense if you save the money you’re currently spending on car insurance and student loan repayments to buy a car in cash – eliminating the interest paid instead of just reducing it.    

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