Quote:
Originally Posted by platinum
I can afford the cars and they are essential to keeping our income and jobs.
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Having a car is essential to your job. Having the cars you currently have is not. That's an important distinction.
I need a car for my job, too. I'm driving a 1998 Camry that I bought used in August 1998 when it was 1 year old, so it will soon be 12 years old. I paid it off many years ago. My wife's car is also essential. We paid that off the day we bought it 9 years ago.
Of course you could afford the payments if you didn't have a mortgage. The point is that you need to stop using debt to finance your lifestyle.
How much is each car worth and how much do you owe on each? Maybe the advice to sell the cars doesn't apply to you, but without numbers it is impossible to say.