Debt Payoff, Need Advice!

[jpg7n16]

Also, thank you all for the advice. I talked with my husband over our lunch breaks and I think the high interest car is the way to go.

Two very good decisions

Hoping for the best for you guys. Keep us updated!

[DebbieL]

I think the expectation that it is normal to always have a car payment must be an American thing. Here in Canada, while car loans do exist (of course), I don't know anyone personally that has one. Lots of people do have them, just not people I know I guess. I also don't think that it is expected that if you do have one at some point that you will get another for your next car, etc. I just prefer to pay cash (and buy used of course).

[littleroc02us]

I think the expectation that it is normal to always have a car payment must be an American thing. Here in Canada, while car loans do exist (of course), I don't know anyone personally that has one. Lots of people do have them, just not people I know I guess. I also don't think that it is expected that if you do have one at some point that you will get another for your next car, etc. I just prefer to pay cash (and buy used of course).

I agree, here in America it's normal to have car payments, and to finance everything and pay interest.

[Redraidernurse]

Why are you selling your current home to buy another one? Curious.

[couchrobt]

I think the expectation that it is normal to always have a car payment must be an American thing. Here in Canada, while car loans do exist (of course), I don't know anyone personally that has one. Lots of people do have them, just not people I know I guess. I also don't think that it is expected that if you do have one at some point that you will get another for your next car, etc. I just prefer to pay cash (and buy used of course).

That is right. To be a little practical would be great for this type of situation. Yes I agree too that having loans is not the way to do it. It is not the thing. Pay in cash when able and do not get another stuff when you still have something usable. And used cars ain't so bad.

[Eric80]

I think that you need to assess the situation and look at the bigger picture in terms of how to get yourself out of this situation completely. Have you ever thought of going to the citizens advice bureau or a debt advisor?