So, another Ramsey-ism — if you’re in debt, sell everything until you’re not in debt!
I’ve been doing quite a bit of this — finding extra stuff around the house that we no longer need, and putting it up on Craigslist and eBay. However, one of his big recommendations always seems to be to sell your cars. Even if I had any desire to sell off our cars (one financed, one leased), it would be a huge money-losing proposal for us (we owe more than $3k more than the financed car is worth, and selling off a lease is never profitable.) In a year or so, however, we could easily sell the financed car and buy a cheaper one.
Am I an idiot? Should I lose money on my cars, just so I can say I sold them??


No Comment
Post Comment