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By Dave Ramsey
Dear Dave,
credit rating, so we could refinance the car at a lower rate. Can you give us any
credit rating, so we could refinance the car at a lower rate. Can you give us any
other advice?
other advice?
Josiah
Dear Josiah,
I can definitely help you with the interest rate problem. Sell the car!
No, I’m not kidding. I’m not trying to beat you up, but you’ve got no business with a
$13,000 car when you’re only making $20,000 a year. Even if you’d paid cash for it,
that’s way too much money tied up in something that’s going down in value. You don’t
own the car, dude, it owns you!
Right now your entire life revolves around finding a way to keep a car you can’t afford.
That’s ridiculous! If I were you, I’d sell the car, go get a little beater to drive, and give
my wife a big hug. This thing is putting unbelievable stress on your marriage, dictating
your direction in life, and it’s just a stupid car! Forget the idea of building your credit,
too! That’s one of the biggest myths around. Credit hasn’t been much of a blessing to
you so far, has it?
Here’s the deal. If you can’t pay cash for something, you can’t afford it.
When you pay cash, you don’t have any payments. Then, you have control of your
most powerful wealth-building tool – your income! Now that’s a formula for success!
- Dave
credit rating, so we could refinance the car at a lower rate. Can you give us any
credit rating, so we could refinance the car at a lower rate. Can you give us any
other advice?
other advice?
Josiah
Dear Josiah,
I can definitely help you with the interest rate problem. Sell the car!
No, I’m not kidding. I’m not trying to beat you up, but you’ve got no business with a
$13,000 car when you’re only making $20,000 a year. Even if you’d paid cash for it,
that’s way too much money tied up in something that’s going down in value. You don’t
own the car, dude, it owns you!
Right now your entire life revolves around finding a way to keep a car you can’t afford.
That’s ridiculous! If I were you, I’d sell the car, go get a little beater to drive, and give
my wife a big hug. This thing is putting unbelievable stress on your marriage, dictating
your direction in life, and it’s just a stupid car! Forget the idea of building your credit,
too! That’s one of the biggest myths around. Credit hasn’t been much of a blessing to
you so far, has it?
Here’s the deal. If you can’t pay cash for something, you can’t afford it.
When you pay cash, you don’t have any payments. Then, you have control of your
most powerful wealth-building tool – your income! Now that’s a formula for success!
- Dave
The Car Owns You
The Car Owns You
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