Reply To: To sell or not to sell?

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#169198
SherrieL
Participant

Depends on the other accounts, their balances, and the interest being charged. What is the highest interest rate ones? Can you get those paid off with extra effort first, and apply the payments toward the car you decide to keep? I agree you need to sell one of the cars, and the Camry would give you the better “bang for your buck”. Can you check with a savings and loan to see if you can do a personal loan for the remainder on the Camry? If it is only a couple of thousand dollars, your lowered insurance payment plus the $328 you won’t be paying on the car would kick that out in a year. Then, keep paying that amount MORE on your remaining car or remaining debts (again, what has the highest interest?) and you could be out of a substantial part of your debt quickly.