Saturday, August 6, 2011
I have been unemployed for 7 months and can no longer afford my car payment.?
I was thinking about selling the car but since I am actively looking for work I wonder if I will find a company where I will need to commute. This is my last debt so once the car is gone I will owe no more to creditors except for the monthly bills of rent, cell phone & utilities. What do you think I should do? Car payment is an ugly $515/ month and I owe $13,000 on my '06 Nissan Altima with 44K. While I've been out of work I've been keeping the mileage low and hardly driving out of the way with it. It's a Great car and going to last a Lonnnng time but do I continue to be gazelle intense with paying it off (big Dave Ramsey fan) or cut it and try to find another vehicle. Think I'm scared to sell it and go with a car that might need maintenance.
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